CBN Non-Interest Loan is an option for those who don’t have enough money to pay their bills. The interest that you pay to CBN is 0% and it will be deducted from your loan amount.
You can apply for this loan online via the CBN website or at any CBN branch. All you need to do is fill out a simple form and submit it with all required documents and evidence.
If you are in search of a loan from CBN, you have come to the right place. With this article, I will be walking you through a step-by-step guide on how to apply for CBN Non-Interest Loan.
The non-interest facility loan has been authorized and opened by the Central Bank of Nigeria (CBN) in collaboration with NIRSAL Micro Finance Bank. Basically, this loan is offered to SMEs, AGSMEIS, and households. Therefore, the information below will instruct you on how to apply for a CBN Non-interest loan if you are interested and fit into any of these categories.
Who is Eligible For CBN Non-Interest Loan
The Non-Interest AGSMEIS Traders dealing in foodstuffs, electronics, allied products, computers/phones, spare parts, building material, transportation, and much more can apply for this CBN Non-Interest. Stop worrying about who is genuinely eligible for this loan.
NT: The majority of loans are being injected since not all people who want to borrow money from the cbn are adhering to or following this step. There are several actions you must complete before applying for the cbn loan note in order to be approved for this loan.
#Step 1: Determine your eligibility
#Step 2: Submit the application form
#Step 3: Check your application status
#Step 4: Apply again if you’re not approved
#Step 5: Wait for your loan
Now that we have talked about the steps that you need to take before applying for loans, let’s just dive straight: How to apply for cbn non-interest loan in Nigeria.
A step-by-step Guides: How to Apply for CBN Non-Interest Loan
Following are the steps to apply for a CBN Non-Interest Loan for Households and SMEs:
1. Begin by visiting the website for NIRSAL microfinance
2. After that, click “Apply for Non-Interest Facility.” You will have two choices after tapping it. “NON-INTEREST TCF” and “NON INTEREST AGSMEIS” are these possibilities. The “NON-INTEREST TCF” tab can be selected.
3. You will see two options when you select the NON-INTEREST TCF tab: household facility and SME facility. Select the choice that best suits your needs. After that, you can fully begin the registration process.
4. You will be asked if this is your first application or if you are returning to an earlier one. Choose “New Applicant” if this is your first time applying.
5. Next you are to input your bvn. After typing your bvn what does of your information will be provided automatically, then fill-in your other information that are necessary.
If your application is accepted, you should receive a message congratulating you on your success. If you have a registered business with CAC, you can use the SME facility. You only need your company’s TIN number and other CAC registration information.
Final Words:
I am glad you were able to read through the step by step procedure on how to apply for CBN Non-Interest loan, please who would like to hear from you in the comment section, How was your process when applying for the cbn loan and how many days weeks does it take you for CBN to approve the loan.
