XSLNCE School Relief Loan

In our bid to make Nigeria an educated society and bearing in

mind that school fees is a problem, we hereby introduce XSLNCE school relief loan. This is a credit product designed to relieve parents and guardian of the school fees burden. It enables parents to pay for their children or wards school fees without stress.

FEATURES

·         Repayment period: 3 months

·         Minimum amount: ₦40,000

·         Maximum amount: ₦500,000

BENEFITS

·         Relief in paying school fees

·         Easy access to Loan

·         Flexible repayment terms

REQUIREMENTS

·         Provision of school fees bill stamped and signed by the school.

·         Valid means of Identification of the parents or guardian.

·         6 months statement of account where salary or income is domiciled

·         1 passport photograph

·         Evidence of employment/ place of work/ Record of service.

·         KYC form duly completed

·         Guarantor – preferably colleagues from the parents/guardian place of work.

·         Utility bill ( not less than 3months)

·         Visitation report of the residence and employer by the account officer.

·         For those micro customers who do not have statement or are unbanked a further analysis is made to determine their suitability. Repayment would be structured in line with their business.

GUARANTOR’ REQUIREMENTS

·         Completed guarantor’s form

·         1 passport photograph

·         A valid means of Identification

·         Utility Bill (not more than 3 months old)

FEES

·         Interest rate: 6% - 8%

REPAYMENT STRUCTURE

·         3 Months repayment

·         Cheques from the customer and guarantors with the repayment amount written on them. Cheques to be paid at the end of the month.