With the current state of the economy, securing loans is more vital than ever for both business owners and individuals. Regardless of why you require a loan, the majority of the work is spent locating a suitable lender. More importantly, this is why institutions like the Globus bank exist: to make things easier than they are now. Globus bank loans are among the most straightforward to obtain, having met the demands of a large number of people over the years.
About the Globus Bank
Globus Bank was established as a limited liability company on March 6, 2019, making it a newcomer to the market. They are also officially licensed by the Central Bank of Nigeria, and their major goal is to provide commercial banking services to Nigerians. Globus Bank, like many others today, is a digitally based institution that aspires to be Nigeria’s leading digital bank. Basically, this means providing the best, most timely solutions to suit their consumers’ needs.
What services are provided by Globus bank loans?
Despite the fact that Globus Bank offers traditional personal banking, its loan products remain the company’s key selling point. As a result, among the lending services they offer are:
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1. Individual loans
Employees of businesses can apply for personal loans from Globus Bank. In essence, the bank makes a deal with firms, allowing them to borrow up to 75 percent of their employees’ net annual wage. It should be noted, however, that this option is only open to candidates who are receiving terminal benefits.
2. Funding for the creative industry
The loan for the creative sector is funded by a Central Bank of Nigeria initiative (CBN). Its primary goal is to increase capacity and create jobs for those working in the fashion, software engineering, and information technology industries. You may also read about the loan from the Central Bank of Nigeria in this article.
3. Asset-based lending
This service was created by Globus banks for firms wishing to buy assets. As a result, it can support the purchase of equipment such as vehicles and machinery, as well as generate cash from the value of assets that the company currently has.
4. Automobile financing
Vehicle financing enables you to acquire the vehicle of your choice. In addition, rather than a tough flat sum payment, the repayment plan is flexible and includes interest.
5. Home loan
Finally, mortgage loans relieve you of the responsibility of paying for real estate developments directly. Essentially, the bank pays you in advance and allows you to repay the loan over a set period of time.
What are the interest rates that apply to Globus bank loans?
Globus bank loans do not have a constant interest rate; instead, it varies depending on the form and nature of the loan. However, one thing is certain: they will disclose the rate in the contract and notify you before the transaction is finalized. It’s up to you at that time to assess your options and accept or refuse.
What are the prerequisites for obtaining a loan?
Each loan with Globus bank has its own set of minimum requirements. However, the majority of loan products include the requirement that the consumer have a stable source of income. This is how the bank assesses your ability to repay the loan and considers the dangers of doing so.
What are the payback terms for the loans?
Following the completion of your loan application process, you and the bank will agree on a repayment term. As a result, they differ from one person to the next. Globus Bank, on the other hand, provides consumers with a flexible and convenient repayment option.
What is the procedure for applying for Globus bank loans?
Globus bank loans are simple to apply for. You can do so either through their online channels or in person at the bank. The procedures are as follows:
- https://www.globusbank.com/ is their official website.
- Select “corporate banking” from the “online banking” page.
- Make a new user account.
- After that, you can use the “borrow” tab to apply for a loan.
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