Frequently Asked Questions (Find out more)
Find the answers to what you want to know about AvisMoney
What do I need to be eligible for loan facility?
- You should be 21years and above
- You must have a valid means of identification
- You must run a current/Savings account with a commercial Bank in Nigeria.
- You must have a verifiable income.
- you must have a clean Credit Report
What are the requirements for your loans if I am a salary earner?
- Duly Filled Application form
- 1 Passport Photograph for Applicant
- A copy of valid ID and employee ID
- 3 – 6 months most recent salary bank statement
- Blank signed undated Cheques from applicant.
- If you are an outsourced employee or your employment has not been confirmed, you will be required to provide a guarantor who must be a permanent staff of your organization
- Copy of letter of Employment or Confirmation of Employment.
- A suitable guarantor who will provide the following:
- Copy of Guarantor employee ID Card.
- A valid means of ID card
- 3 – 6 months most recent salary bank statement
- Blank signed undated Cheques
- Guarantor mail (from official E-mail)
- Duly Filled Guarantor Form
What are the requirements for your loans if I am self-employed or own an MSME?
- Duly Filled Application form
- 1 Passport Photograph
- 1 means of identification (international passport, driver’s license or national ID)
- Certificate of Incorporation
- 3 – 6 months most recent bank statement
- Memorandum of Association
- Copy of applicant employee/business ID Card.
- Blank signed undated cheques from the Applicant
- A suitable guarantor who will provide the following:
- Copy of Guarantor employee/business ID Card.
- A valid means of ID card
- 3 – 6 months most recent salary bank statement
- Blank signed undated Cheques
- Guarantor mail (from official E-mail)
- Duly Filled Guarantor Form
Do I have to be a salary earner to get your loans?
No. You can access our loans if you have a verifiable source of income either from paid hire or self-employed.
What types of guarantors are acceptable?
- A staff of any commercial bank or recognized Corporate entity in Nigeria.
- A senior civil servant from grade level 14 and above.
What is the advantage of using a Banker guarantor?
- Using a banker guarantor guarantees quicker loan processing than the civil servant guarantor.
- Presenting a Letter of Comfort from your HR in addition with a banker guarantor guarantees a lower interest rate than using a banker guarantor alone.
What is the minimum and maximum amount I can borrow as an income earner?
- We offer loan amount ranging from N10,000 to N500,000
What is the minimum and maximum amount I can borrow as a business owner or MSME loan?
- We offer loan amount ranging from N20,000 to N1,000,000
What is the maximum repayment period?
Our maximum repayment period is 3 months depending on the loan type.
Can I have multiple loan facilities?
Yes, you can but is subject to credit history from pervious loan facility.
How long do I have to wait after repaying a loan in full before I can reapply for a new one?
There is no wait time. You can apply immediately.
How soon can I be availed of funds, after meeting the required conditions?
You can get your money within 12-48 hours after all required documentations has been submitted and verified.
Can I extend my loan facility?
Yes, you can. We offer such flexibility on all our loans.
As an investor how soon can I get my money back if I want to liquidate?
This shall be in line with the dates as contained in your agreement. However, if early liquidation is required, an ample notice should be given.