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How to get Standard Chartered Loan

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how-to-get-standard-chartered-loan

How to get Standard Chartered Loan

In the ever-evolving finance and financial services landscape, securing a loan often serves as the link between aspirations and achieving those dreams and making them a reality. If you’re looking at the possibilities of getting a loan to finance your financial goals and dreams, one of the esteemed names in the world of banking, Standard Chartered may be the institution to help you achieve your financial dreams goals: “How to get Standard Chartered Loan.”

In this guide, we’ll discuss and take you through the steps on how to get a Standard Chartered loan, the benefits of Standard Chartered loans, and the possible types of loans you can get from Standard Chartered Bank. From understanding the loan options available at Standard Chartered to meeting the loan eligibility criteria you’ll learn all in this guide. Read on to if you wish to get a loan from Standard Chartered Bank.

About Standard Chartered

Standard Chartered Bank PLC has a rich global history in its over five decades of operation, the bank re-entered Nigeria on 15 September 1999 as a wholly owned subsidiary of Standard Chartered Bank Plc. This re-entry is after its initial operations dating back to 1894 were truncated after the Nigerian civil war and the bank’s shares of ownership nationalised.

Standard Chartered Bank is committed to its customers with the wide variety of products and services it provides in Retail; Wealth Management; Commercial; Corporate and Institutional; Private, Digital and Transaction Banking business. Standard Chartered has in its employ over 900 staff across its more than 22 branches of operation nationwide. Standard Chartered brings its global expertise to bear in its banking operations in Nigeria.

Does Standard Chartered Give Loans

Yes, Standard Chartered Bank provides a wide range of loans to its millions of customers around the globe in the areas where the bank has operational offices and branches. The different types of loans provided by standard chartered are designed to meet various needs of the borrowing public.

Types of Loans Offered By Standard Chartered

Standard Chartered has different types of loan products it offers to its customers, depending on the financial needs of the loan applicant. The main types of loans available at Standard Chartered Bank include:

  • Personal Loan: This is a loan that is designed for individuals to help them fulfil their financial goals and dreams, this is a loan that is unsecured and is given at a very low-interest rate of 1.083% per month. This loan has a repayment period of up to 60 months.
  • Overdraft Loan: This is a loan that allows you to overdraw from your account every month up to a maximum of 1.8 million Naira. This loan is for customers with a salary account with Standard Chartered Bank. The overdraft loan allows customers to overdraw 50% of their monthly salary up to a maximum of 1.8 million Naira.
  • Long-Term Loans: This is a type of loan that is designed for borrowers where the borrowers go into a contract with Standard Chartered Bank, for a period of financing between 5 years to 7 years. This loan is structured in a way that it is meant to finance specific transactions and assets.
  • Smart Business Loan: This is a loan that is designed to provide businesses with loans up to a maximum of 20 million Naira with no collateral for the sake of business expansion. This loan is available to new and existing customers of Standard Chartered Bank.
  • Trade & Working Capital Solutions: This loan is designed to provide financing for businesses to help such businesses grow and expand. This loan is also designed to provide transactional and operating capital to businesses and business owners.
  • Wealth Management Overdraft: This loan is open to customers of Standard Chartered Bank with an investment or investment portfolio with Standard Chartered Bank to borrow funds up to a maximum of $1,000,000. You can borrow this amount without fear of losing your returns on your current existing investment with the bank.
  • Business Mortgages: This loan is designed to help you fund the purchase and ownership of residential, commercial or industrial property. This loan has a tenor of up to 20 years and allows you to borrow up to 80% of the cost of the property meaning you have to pay a 20% deposit for the property purchase.
  • Secured Wealth Lending: This is a loan that is designed for your investment with Standard Chartered to work hard for you. This loan is secured and provides funds to customers using the customer’s financial assets as collateral for the loan.

Standard Chartered Loan Interest Rate

Standard Chartered Bank loan interests are very competitive to the lending rate obtainable in the banking industry in Nigeria. To obtain a loan with Standard Chartered Bank the interest rate ranges from 1.08% per month to 17% per annum or more depending on the type of loan you’re seeking from Standard Chartered Bank.

Standard Chartered Loan Eligibility

The different types of loans offered by Standard Chartered Bank have their specific eligibility criteria requirements. The eligibility requirements for the different types of loans are listed below:

Personal Loan

  • Bank statements for the last 3 months
  • Your salary account must be domiciled with Standard Chartered
  • Pay slips for the last 3 months
  • Letter of Awareness from employer to domicile your salary with Standard Chartered Bank
  • You have to be between 21 and 60 years of age
  • You need to be earning a minimum salary of ₦30,000

Overdraft Loan

  • You must have your salary account domiciled with Standard Chartered Bank
  • You must have a good credit bureau history
  • You must earn a minimum qualifying salary of ₦50,000
  • You must be 21 years or older

Long Term Loans

  • You need to have an account with Standard Chartered Bank
  • You have to be of legal age to apply for this loan

Smart Business Loan

  • You need to have a functional business
  • Your business has to have an account account with Standard Chartered Bank
  • You need to have a standalone board resolution to be able to request for this loan

Trade & Working Capital Solutions

  • You need to be a functional business
  • Your business needs to have an account with Standard Chartered Bank
  • Your business needs to have the necessary licenses and regulatory approvals

Wealth Management Overdraft

  • You need to have an investment or investment portfolio worth more than $1,000,000 or its equivalent with the bank
  • You must have an account with Standard Chartered Bank to be able to monitor your account activities

Business Mortgages

  • You have to deposit at least 20% of the cost of the property you wish to acquire
  • You need to have an account with Standard Chartered Bank for easy monitoring of your loan facility and funds movement

Secured Wealth Lending

  • You need to have an investment or investment portfolio of financial assets with Standard Chartered Bank
  • You need to hold an account with Standard Chartered Bank
  • You must be between 18 years old and 70 years old at the time of applying for this loan
  • You have to meet the relevant terms and conditions
  • You need to have any of the acceptable collaterals including Fixed Deposit; Mutual Funds*; Bonds & Treasury Bills

Standard Chartered Loan Application Process

The application process for any of the loans offered by Standard Chartered Bank is easy to follow. The application steps for the loans offered by Standard Chartered Bank are listed below:

  • You have to download and complete the loan application form depending on the type of loan you wish to request from the Standard Chartered Bank loan website
  • Then submit the completed application form to Standard Chartered
  • For the business loan types of loans you will need to have your Corporate Account Opening Form, Account Opening Checklist and Guide Form, and Standalone Board Resolution

Benefits of Standard Chartered Loan

Getting Standard Chartered Bank loans comes with several benefits. Some of the main benefits of Standard Chartered loans include:

Personal Loan

  • The loan tenor is very comfortable and guarantees easy repayment
  • The loan interest rate is very low and affordable
  • The loan requires no security
  • You are not charged pre-liquidation charges

Overdraft Loan

  • The overdraft interest rate is very flexible according to the amount of overdraft you use
  • There are no maintenance charges on the overdraft drawn
  • You do not require a minimum account opening balance to use an overdraft
  • This loan provides you with easy access to cash whenever you need it

Long Term Loans

  • This loan has a flexible repayment plan
  • Loan disbursement is very fast to enable you to meet your financial goals
  • You have 24/7 access to your account anywhere through Straight2Bank

Smart Business Loan

  • You do not need a collateral for this loan
  • You have access to top up this loan after the first 12 months if you make regular repayments
  • The repayment options are flexible and can be structured to suit your business for up to two years
  • This loan is available to new and existing clients and there is no waiting period for this loan during the application

Trade & Working Capital Solutions

  • This loan helps you to have access to bonds and guarantees from Standard Chartered Bank to help your business finance a wide range of contractual obligations
  • This loan can help you fund part of your import financing of products and services
  • This loan helps you fund part of your export financing
  • This loan helps you to grow your business by leveraging Standard Chartered Bank’s extensive international network
  • The loan grants you instant access to funds on approval of your loan request
  • This loan provides financing facilities including overdraft and trade services to beneficiaries

Wealth Management Overdraft

  • You do not require any other collateral aside from your pledged investment with Standard Chartered
  • You have access to competitive interest rates
  • This loan is available to customers in multiple currencies including NGN, USD, GBP and EUR

Business Mortgages

  • This loan offers a competitive interest rate
  • The repayment period of three a loan is very comfortable and flexible at 20 year repayment period
  • You are allowed to borrow up to 80% of your proposed property cost

Secured Wealth Lending

  • With this loan, you have access to multiple currencies to operate with including NGN, USD, GBP and EUR
  • With this loan, you can improve your personal liquidity position with no restrictions
  • With this loan, you can increase your portfolio returns and hedge your risks more

Cons of Standard Chartered Loan

Standard Chartered Bank has a plethora of benefits, but there are also some downsides to Standard Chartered Bank loans. Some of the cons of Standard Chartered loans include:

  • The maximum amount of overdraw available is small compared to the size and value of Standard Chartered Bank
  • The business loans have fees and charges that can pile up and become burdensome to the business finances
  • Many of the loan offerings do not have a specified interest rate stated on the bank’s website

Conclusion

Standard Chartered Bank offers loans with highly competitive interest rates compared to the lending and market rates. Standard Chartered is a bank that is committed to the growth of its customers hence the bank provides favourable criteria and terms of application to individuals and businesses seeking loans with the Bank. If you wish to get a loan that will help you achieve your financial goals without straining you or your business financially Standard Chartered Bank is the bank to go to. 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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