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Our products are tailored for people who have paid employment. But one of the great things about us is our flexibility where your requirements are concerned, so if you meet our conditions as a business owner, you can access our loans.

After the submission of all necessary documents, the money will be transferred to you no later than 24 hours

Simply complete our loan application form and we will get in touch with you within minutes.

No, this is not necessary. Repayments are made through post-dated cheques or transfers and deposits into our account. You can also place a direct debit instruction on your account

No, you do not. Everything will mostly be conducted online.

Yes, you can apply for a loan, even though you do not live in Lagos

Since our business is conducted online, our office is located in Lagos, but we have representatives in Enugu and Abuja.

You can get a loan for up to 12 months

Repayment dates are structured on a 30 day cycle from the date of disbursement. Actual payment dates are however flexible and usually structured to suit your cash flow

This depends on the type of loan being requested. We can however advance as much as N1 million where you fully meet the requirements. For high sums, contact us.

DSR is Debt Service Ratio, and this determines the maximum amount the Company should be exposed to you based on your net monthly income. DIR is Debt to Income Ratio, and it shows the percentage of your monthly income being serviced on debt obligations

Our rates are the cheapest in the market, allowing you to repay on reducing balance, reducing the overall effective rate or cost of funds to you

The rates can be applied as any of the following:

  • Equal reducing balance, where principal and interest elements are distributed to reflect equal payments monthly
  • Monthly interest repayment, where the interest element alone is serviced initially then the principal sum and interest are repaid on liquidation
  • Staggered repayment, where you have the choice of how much you want to repay monthly in the duration of the loan

This is a repayment method where you pay a portion of the principal amount up front, ensuring very minimal interest payment

Very flexible. You are allowed to choose which repayment structure suits you.

No. Only the interest to accrue on the facility as at the intended early repayment or liquidation date is calculated and applied. Meaning, you would only pay the interest accrued as at the intended pay down date

Upon meeting certain pre-conditions, clients are allowed to restructure their repayments to terms suitable to them and the Company. The Company has to be pre-notified of the intention to restructure and the restructure terms agreed to by both parties

A corporate worker with a reputable organization who is of a level not lower than Assistant Manager

No. Before a fresh facility is granted, clients are required to liquidate outstanding obligation on running facilities, if any

No, there are not. You will be informed of all applicable charges when you apply for the loan

A default is recognized when a repayment is left unpaid two days after the due date



Yes, you can invest with VFD Microfinance Bank. Click here to contact us for more details.