Frequently Asked Questions | Primera Microfinance Bank - Quick Loans , Fixed Deposits, Savings, Savings and Investments, SME Loans, Quick Loans In Lagos

What are the requirements for a loan application?

You require a valid form of identification approved by the CBN (e.g. Driver’s License, National ID card, International Passport, etc.) OR your official ID Card (issued by your employers); Employment Letter; Pay slip OR Bank Statement and Passport photograph.

How much can I borrow?

You can borrow a little as ₦50,000 or as much as ₦20,000,000

What loan products do you offer?

We offer the following loan products: SME Asset Finance, Distributor Finance, LPO Finance for awarded contracts, Personal Loans (to private and public sector employees), Education Finance, and so much more.

What is the shortest loan tenor?

The shortest loan repayment tenor is three months.

How quickly can I get a loan?

Your loan request can be processed in as little as 6 hours, after receiving your application.

What is a credit report?

A credit report shows your credit history and provides information on your creditworthiness. It is independently prepared by approved Credit Bureaus.

Do I need to present a collateral for a Loan application?

Not all Loan products require a collateral. Only SME and Micro-Credit Loans currently require a collateral to be processed.

What is the least amount I can invest as a Fixed Deposit?

You can invest as little as ₦50,000 in a Fixed Deposit and watch your earnings grow!

For how long can I invest my funds in a Fixed Deposit?

You can invest your funds for little as 60 days or as long as 365 days. The longer you keep your funds invested with us, the higher your returns!

If I have an emergency, can I withdraw from my funds invested in a Fixed Deposit?

Yes, you can request for your funds (and accrued interest) at any time. However, you will be charged a pre-liquidation fee on the interest earned.

Is my Fixed Deposit investment secure?

Yes, your funds are safe with Primera MFB. All Fixed Deposit Investments are insured with the Nigeria Deposit Insurance Corporation (NDIC).

How can I make a transfer or payment using the NIBBS e-Bills platform to Primera MFB from a bank branch?

It’s quick, easy and instant – you do not even need to present a Primera account number! Submit an instruction and completed bank deposit slip to make a payment in favour of Primera MFB at any bank branch in Nigeria. The bank teller will process your request on the NIBBS e-Bills platform and issue a receipt to you afterwards. It’s that simple!

How can I make a transfer or payment using the NIBBS e-Bills platform to Primera MFB from my Internet Banking application?

You can make transfers or payments to Primera MFB from the comfort of your home, office or ‘on the go’. Just log in to your Internet banking application, and do the following: Click on Bill Payments >> Click on Payments & Collections >> Click on NIBSS e-Bills Payments >> Click on Choose a Biller >> Click on Primera Microfinance Bank >> Select the desired Product [ Loan Repayment or Fixed Deposit ] >> Input the desired amount >> Proceed to make the payment. It’s that simple!

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We are regulated by the Central Bank of Nigeria