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How To Get Fidelity Bank Loan

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How To Get Fidelity Bank Loan

In the chase to make our financial dreams become reality, having access to flexible and convenient loan options has proven to be a game-changer, in the quest to achieving personal and business financial goals. Fidelity Bank, as a trusted financial institution in Nigeria, offers a variety of loan options to help individuals and businesses achieve their financial goals: “How To Get Fidelity Bank Loan.”

Getting loans from Fidelity is easier than you think in many instances, if you’re planning to obtain a loan from Fidelity Bank, you’re on the right platform to get informed on how to go about getting a Fidelity Bank loan to achieve your financial goals.

In this guide we will discuss and walk you through the requirements and eligibility criteria for getting a Fidelity Bank loan, the types of loans offered by Fidelity Bank, interest rates of the different types of Fidelity Bank loans, the benefits of Fidelity Bank loans, and the cons of Fidelity Bank loans if any. Read on to learn more!

About Fidelity Bank

Fidelity Bank is a prominent commercial bank in Nigeria, the bank was founded in the year 1988 as a merchant bank and was converted to a commercial bank in the year 1999. The bank was established as Fidelity Union Merchant Bank Limited and then converted to a commercial bank in the year 1999 and became a universal bank in the year 2001. Fidelity Bank has over 7.2 million customers managed and serviced across its 250 service offices and several digital banking platforms.

Fidelity Bank is highly focused on a select niche corporate banking as well as serving Micro Small and Medium Enterprises (MSMEs). Fidelity Bank has continued to rapidly implement a digital-based retail banking strategy which has resulted in exponential growth in savings deposits for the bank over the last 12 years. This has led to over 57 per cent customer enrollment on Fidelity Bank’s flagship mobile/internet banking products.

Does Fidelity Bank Give Loan

Yes, Fidelity Bank gives loans to its eligible customers who meet and agree to the terms and conditions with which the Fidelity Bank loans are provided and offered. Fidelity Bank offers a wide range of loan products according to the needs of the loan applicants.

Types of Loans Offered By Fidelity Bank

Fidelity Bank offers several different types of loans to its millions of customers across all the regions where the bank operates. The main types of loans available on offer at Fidelity Bank include:

  • Payday Loan: This loan is designed and targeted at staff of public and private organizations whose staff salary accounts are domiciled with Fidelity Bank. This loan is given at a flat interest rate of 4.5% and has a tenor of 30 days. The minimum loan amount for this loan is ₦1,000 and you can apply for up to 50% of your net income up to a maximum of ₦500,000 as loan with the payday loan.
  • Personal Loan: This loan is designed for and targeted at individuals in private and public organisations with their salaries domiciled with Fidelity Bank. This loan is very suited for individuals that it doesn’t have any document requirements. This loan is designed with an interest rate of 2% per month or 24% per annum and has a maximum possible loan amount of ₦5,000,000 individuals can apply for.
  • Fidelity Point of Transaction (POT) Loan: This is a loan that is designed to be a short-term loan meant to provide a bridging finance to customers of Fidelity Bank, with this loan you can complete your immediate financial transactions initiated on the automated teller machine (ATM), Web, or point of sales (POS) due to insufficient balance concerns.
  • Fidelity NYSC Loan: This loan is designed and targeted at serving members of the National Youth Service Corps (NYSC). This loan is meant to help serving corp members get instant loans which will be disbursed into the corp members’ account to help the corp members with their financial needs. The Fidelity NYSC loan is categorised into the payday loan and the personal loan.
  • Fidelity Loan On Account Turnover (FLOAT): This is an instant loan type designed for active account holders with Fidelity Bank with a banking relationship with Fidelity Bank. This loan is designed with a flat loan interest rate of 4.5% per annum. To restructure this loan at any time you need to pay a 0.5% restructuring fee to Fidelity Bank to have your loan restructured.

SME Loans And Advances

These are the loans offered by Fidelity Bank to several MSMEs to help in powering and growing the Nigerian economy. This loan is specifically created for Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. It has been customized to address the challenges faced by MSMEs in accessing finance. Fidelity Bank aims to become the preferred bank for funding and providing support to MSMEs, as they play a crucial role in driving the growth and development of the Nigerian economy.

The SME loans and advances offered by Fidelity Bank include SME Quick loans, Commercial Support Short Term Loan, Commercial Support Overdrafts, Traders Support Facility (TSF), Specialized MSME Loans, Fidelity EduLoan, Fidelity Private Medical Support Scheme, Fidelity Pharmacy Support Facility (FPSF), Development Finance Loan, and Development Finance and Intervention Funds.

Fidelity Bank Loan Interest Rate

Fidelity Bank offers loan products to applicants who qualify for its loans at affordable and competitive interest rates. The interest rates of loans offered by Fidelity Bank range from 2% per month to as high as 24% per annum or more depending on the type of loan.

Fidelity Bank Loan Eligibility

There are several loan eligibility requirements for getting any of the loan products offered by Fidelity Bank. The eligibility requirements for the various loan types available at Fidelity Bank are listed below:

Payday Loan

  • No documentation required
  • Your Salary Account and GSI must be domiciled with Fidelity Bank and be active for at least three (3) months
  • The customer must have a credit balance
  • You need to have a good credit rating

Personal Loan

  • You do not need documentation for your loan application
  • Your Salary Account must be domiciled with Fidelity Bank and be active for at least three (6) months
  • The customer must have enough credit balance
  • You need to have a sound credit rating

Fidelity Point of Transaction (POT) Loan

  • You must be a Fidelity Bank account holder to be eligible for this loan
  • You must have a minimum balance of above N500, meaning your account must be in credit balance
  • You need to be free from any outstanding POT loan obligations
  • Your total transaction value must not exceed the ledger balance

Fidelity NYSC Loan

  • You need to be a serving corp member
  • You need to have your allowance account domiciled in Fidelity Bank
  • A credit check will be conducted on the applying corp member
  • You must accept the T&Cs

Fidelity Bank NYSC Loan Terms and Conditions

  • The loan tenor is up to 10 months
  • You have to pay a management fee of 1% which is charged upfront
  • You have to pay for insurance fee of 1% chargeable upfront
  • The interest rate for this loan is between 1.95% – 2% p.m.
  • This loan has credit life insurance at 0.25% flat

Fidelity Loan On Account Turnover (FLOAT)

  • This loan is very easy to obtain, the loan does not have a guarantor requirement, and no collateral for application
  • There is no requirement for a loan guarantor and collateral to be able to apply for this loan
  • There are no hidden charges to this loan

Fidelity Bank Loan Application Process

Each type of loan is available at Fidelity Bank, with each having its specific application processes albeit with small differences in the required documents for application. The application process for the different types of loans offered by Fidelity Bank includes:

Payday Loan

  • To apply for the payday loan you need to fill out and complete the payday loan application form on the bank’s loan website
  • You can also apply for the payday loan by dialling the USSD *770*08# and then following the prompts

Personal Loan

  • To apply for the personal loan you need to fill out the personal loan application form on the bank’s loan website
  • You can also apply for the personal loan by dialling the USSD *770*08# and following up on the prompts

Fidelity Point of Transaction (POT) Loan

  • To apply for the POT loan you need to fill out the POT loan application form on the bank’s loan website
  • You can also apply for the POT loan by dialling the USSD *770*08# and then following the prompts thereafter

Fidelity NYSC Loan

  • To apply for the Fidelity NYSC loan you need to fill out the Fidelity NYSC loan application form on the Fidelity Bank’s loan website
  • You can also apply for the Fidelity NYSC Loans by dialling the USSD *770*08# and following the prompts thereafter

Fidelity Loan On Account Turnover (FLOAT)

  • To apply for Fidelity Loan On Account Turnover (FLOAT) you are required to fill out the Fidelity Loan On Account Turnover (FLOAT) application form on Fidelity Bank’s website
  • You can also apply for Fidelity Loan On Account Turnover (FLOAT) by dialling the USSD *770*08# and then following the prompts afterwards

Benefits of Fidelity Bank Loan

Fidelity Bank loans provide several benefits to customers who apply for this loan and get their loan application approved. The benefits of the different types of loans offered by Fidelity Bank include:

Payday Loan

  • You do not require any documents or collateral to apply for this loan
  • You have access to borrow up to 50% of your net salary income
  • You can pre-liquidate your loan without incurring any penalties

Personal Loan

  • The personal loan is not tied to collateral lending, meaning you can apply for the loan without any documents and collateral
  • You are allowed to pre-liquidate your loan without any penalties
  • This loan offers you up to 40% of your annual income up to a maximum of ₦5,000,000

Fidelity Point of Transaction (POT) Loan

  • This loan is ideal for emergency small spending for individuals on a budget spending

Fidelity NYSC Loan

  • NYSC serving corp members can have access to emergency financing for their goals and needs during their service year
  • You can self-liquidate your loan
  • The loan is characterised by easy documentation
  • The loan has a quick processing time
  • The loan is disbursed instantly

Fidelity Loan On Account Turnover (FLOAT)

  • You can extend the repayment of this loan by another 30 days once on the expiration of the ideal 30 days loan tenor expires and you’re unable to repay the loan
  • The loan disbursement is instant once your loan application is approved
  • There are no hidden loan fees

Cons of Fidelity Bank Loan

Fidelity Bank loans provide several benefits to the loan beneficiaries, the bank’s loans Alps have some downsides including:

  • The payday loan has a very short tenor of just 30 days
  • The interest rate of the payday loan is taken upfront
  • The personal loan has extra fees attached to it the management fee is pegged at 1% flat and the insurance fee of the loan is pegged at 1.5% bringing the whole thing extra cost at a 2.5% flat rate.
  • The tenor of the POT is very short at 14 days

Conclusion

Fidelity Bank loans are very affordable for personal use and business development, this is especially the case for small and medium enterprises that are seeking funds to keep their businesses running. With Fidelity Bank loans millions of businesses have been able to meet their financial goals, and helped keep their businesses growing and operating. If you wish to get the funding to achieve your financial and business goals, Fidelity Bank is the bank to go to and be assured of loan financing, provided you meet the eligibility requirements for the type of loan you apply for. See

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FINTECH

How the Logistics Sector Can Improve On Payment Collection In Nigeria

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How the Logistics Sector Can Improve On Payment Collection In Nigeria

How the Logistics Sector Can Improve On Payment Collection In Nigeria

 

The logistics sector in Nigeria continues to gather momentum, especially in the urban centers that are densely populated with people of varying demands. This business is a critical part of the supply chain as it collects, transports, and delivers products to customers. Hence making it a lucrative venture in Nigeria.

 

However, the advent of technology has amplified the logistics sector as it now tends to leverage digital tools to attract customers seeking to employ the service for product delivery to different parts of the country. This has increased online presence through websites and social media platforms like Instagram, Facebook, and X (Twitter).

How the Logistics Sector Can Improve On Payment Collection In Nigeria

Notably, the logistics sector already has a synergy with other sectors like the e-commerce industry, which is primarily populated by small and medium-scale enterprises (SMEs).

 

Therefore, its relevance becomes germane to fostering the customer experience of any business. This is because a timely delivery of products is the hallmark of any logistic business.

 

However, payment structure plays a significant role in the effectiveness and efficiency of the business as this propels it to pick up products and get them delivered to people. So, product delivery will always be delayed when a firm payment agreement between an SME and the logistic business is not met. While this can affect the reputation of the SME, it can also reduce the patronage of such logistics.

 

In light of bolstering the operation of the logistics sector in Nigeria, it is imperative to employ payment methods that are easy and simple to use such that it does not lead to delays that hamper related businesses. Therefore, Fincra has put in place sustainable payment innovation to boost the growth of the logistics business in the country.

 

Notable as one of the leading fintech companies in Nigeria, Fincra is a payment gateway committed to improving the payment strategy of different sectors in Nigeria, including the logistics business.

 

Ways Logistics Sector Can Collect Payments On Fincra

 

1. Virtual Account

 

Logistics businesses can create a naira (NGN) virtual account on Fincra, which enables them to collect payments from clients across Nigeria. This virtual account can be temporary in the instance of a one-off transaction or a permanent one, which can be used to collect payments like the local bank account.

 

This Fincra virtual account allows easy reconciliation and effective payment management for businesses and logistics.

 

2. Payment Link

 

There is a Fincra payment link that logistics businesses can quickly generate to collect payments from clients. This link can be customized and shared across various messaging tools – social media platforms and text messages. It includes all the necessary information, including the account details of the logistics business for their clients to make payment via bank transfer or cards.

 

3. E-wallet

 

This is using the Fincra wallet to collect payment by the logistic business. However, it is only conditioned that the other client has a Fincra account to facilitate this transaction. This is another effective way of collecting payments because it is simple and instant.

 

Therefore, logistics may need to create a Fincra account and encourage their clients to create the account to enable a seamless completion of payment without delay. This will be a win-win situation for both businesses.

 

4. Card Payment

 

This involves the use of credit or debit cards to make payments. As such, there is a Fincra POS terminal that logistics businesses can employ to collect card payments from their clients. This is a mode of agency banking designed by Fincra to increase the coverage for the payment system in Nigeria.

 

It facilitates an in-person transaction that ensures quick completion of payments between the logistics business and its clients.

 

Conclusion

 

Nigeria’s logistics sector is a booming economy, with many entities foraying onto the landscape. But as this sector continues to become competitive to stay afloat, it is important to adopt better payment strategies that would push the business to the fore of attracting more clients.

 

Fincra provides different options to collect payments for logistics businesses. You can take advantage of that when you create a Fincra account now.

 

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FINTECH

How E-commerce Businesses Can Build Trust With Fincra Payment Collection Methods In Nigeria

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How E-commerce Businesses Can Build Trust With Fincra Payment Collection Methods In Nigeria

How E-commerce Businesses Can Build Trust With Fincra Payment Collection Methods In Nigeria

 

E-commerce is a burgeoning sector in Nigeria, with small and medium-scale businesses continuously entering the market to attract teeming online users who are potential customers. This can be owed to the widespread adoption of technology, which businesses are leveraging to grow sales.

 

Today, there is a proliferation of e-commerce platforms or stores across Nigeria designed to meet the purchasing needs of the larger Nigerian population. This has given rise to a competitive market with businesses adopting strategies that would give them a better position of generating and retaining leads (customers) in the dynamic business landscape.

How E-commerce Businesses Can Build Trust With Fincra Payment Collection Methods In Nigeria

There are many strategies e-commerce businesses employ in Nigeria and worldwide – from a user-friendly online storefront that is easy to navigate to a payment system at checkout. These are some significant factors customers consider to inform their buying decisions on an e-commerce platform.

 

We can not overemphasize the role of payment collection in e-commerce, as customers are always keen on ensuring that a system makes their payment at checkout seamless. This reinforces customers’ trust and confidence in completing their purchases on the e-commerce platform.

 

But, while bank transfers, card payments, and e-wallets are currently the popular methods of collecting payments in Nigeria, e-commerce businesses can harness different payment options on Fincra.

 

Payment Collection Methods On Fincra For E-commerce Businesses

 

Fincra is a leading fintech company in Nigeria that has become a trusted and reliable payment gateway for various business niches. As such, e-commerce businesses can use the payment options on Fincra or, better still, integrate with the payment API on the platform to ease the payment process on their respective platforms.

 

However, you can directly collect payments from customers across Nigeria on your Fincra account. You can achieve this with payment options that include:

 

  • Virtual account: this is a virtual naira account on Fincra that enables you to collect payment through bank transfers from your customers.

 

  • Payment link: there is a Fincra Payment Link, which is customizable – enabling you to share account details with product descriptions with customers on social or messaging platforms.

 

  • Direct API: this is a fully optimized payment system that provides a class array of different options on your e-commerce platform.

 

  • Checkout: a Fincra checkout can be tailored to your e-commerce platform, supporting your customers’ devices to provide an improved experience for your customers.

 

By and large, all these payment collection methods on Fincra are important to the payment strategy of any e-commerce business in Nigeria. They provide your company with a positive outlook to gain trust and confidence.

 

Benefits Of Payment Collection On Fincra By E-commerce Businesses

 

1. Low Fee

 

The fee is relatively low when you collect payments on the Fincra. It provides one of the industry’s best pricing such that you save more for your business while using the platform. This is with the understanding that the sole aim of business is to make profits. Therefore, Fincra is committed to maximizing your gains with its low fee structure on the platform.

 

2. Advanced Security

 

Fincra employs a state-of-the-art security system to keep your funds safe when collecting payments on the platform. It complies with industry standards to keep your financial information and funds from unauthorized access. Therefore, Fincra protects you from identity theft that could lead to a possible loss of funds.

 

3. Multiple Payment Methods

 

As a reputable payment gateway in Nigeria, e-commerce businesses can collect payment via different options that best suit them on Fincra. These are naira (NGN) virtual accounts, payment links, checkout, and direct API. Therefore, these make your business more trusted as you gain more customers.

 

Conclusion

 

People continue to use e-commerce platforms to buy their preferred products in Nigeria, even as others also offer a range of services. But the integral part of e-commerce is the payment system that is the best fit for customers. That is why these businesses need to use the various options on Fincra to collect payments in Nigeria.

 

You can create a Fincra account now to use different payment methods for your e-commerce business.

 

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FINTECH

AAS TOKEN (AAST): The Power of Early Cryptocurrency Investment

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AAS TOKEN AAST The Power of Early Cryptocurrency Investment

AAS TOKEN (AAST): The Power of Early Cryptocurrency Investment

In the dynamic landscape of finance, one phenomenon has consistently captured the attention of risk-takers and forward thinkers alike — the world of cryptocurrency. Stories of astronomical gains and heartbreaking losses fill the digital realm, but amidst this volatility, a strategy stands out: investing in cryptocurrency at launch. This article delves into the advantages of being an early adopter, exploring the potential for substantial profits and the unique benefits that come with it.

AAS TOKEN AAST The Power of Early Cryptocurrency Investment

The First Mover Advantage: The undeniable perk of diving into a new cryptocurrency at launch is the first-mover advantage. Early investors gain exclusive access to potential gains before the wider market catches on. Securing tokens at lower prices paves the way for significant profits as the project gains traction and demand. This early entry positions investors at the forefront of groundbreaking digital currencies, offering a unique edge in the volatile crypto market.

Discovering Hidden Gems: Investing in cryptocurrency at launch opens the door to discovering hidden gems amidst the sea of digital assets. While established players like Bitcoin and Ethereum dominate headlines, emerging projects can provide unique features and innovative solutions to real-life problems. Being an early investor allows individuals to identify and capitalize on the next big thing before it becomes common knowledge, potentially reaping substantial rewards.

Timing the Market Waves: Timing is crucial in the cryptocurrency market, and investing at launch provides a unique opportunity to ride the initial market waves. As a project gains attention and momentum, early investors can strategically capitalize on price fluctuations, buying and selling to maximize returns. While navigating early market dynamics requires an understanding of volatility, the potential rewards outweigh the risks for savvy investors.

The Token Launch: A Privileged Opportunity: Introducing a token launch that presents a privileged opportunity for early investors. Pre-sale information is shared, including the dates (19th and 20th of November 2023) and the corresponding prices for each phase (15 cents, 20 cents, and 25 cents). The token’s total supply is highlighted as 10 billion, with 50% in circulation and the remaining 25% allocated for liquidity provisions, business development, and special projects.

Economics of the Token: A breakdown of the AAS token’s economic structure is provided, detailing the allocation of the 10 billion tokens. Categories include liquidity provisions, business development, special projects, an arbitrage system team, and marketing and operational costs. The reserve purposes are emphasized as a security measure, instilling confidence in potential investors.

Building a Long-Lasting Investment through AAST: The article emphasizes the advantages of being part of an early investment in the mentioned token through the AAS platform. The early investors are encouraged to sign up and leverage the potential benefits of being among the first to access the token when it hits the open market. The minimum registration amount is disclosed, and the article stresses the opportunity to earn a weekly return on investment.

Conclusion: In conclusion, the article is meant urges readers to seize the opportunity presented by the upcoming AAS token launch. Drawing parallels to the early days of Bitcoin and other successful cryptocurrencies, the author highlights the potential for substantial profits and the chance to be part of a revolutionary investment. The call to action encourages readers to subscribe, like, comment, and sign up for the AAS platform to embark on a journey of financial growth and success.

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