Snow microfinance bank was formed in January 2009 and began operating in February of the same year. They see being the reference bank in the entire of Africa and have worked on it from inception. In addition, the Nigerian central bank has granted the bank a licence to operate in the nation. So far, the bank has expanded and is on its way to become one of Nigeria’s top microfinance institutions. This post explains how to apply for Snow Microfinance Bank loan.
What are the advantages and disadvantages of a snow microfinance bank?
The benefits and drawbacks of using the services of the snow microfinance bank are as follows:
Advantages:
- Loans are simple to get.
- Interest rates that are competitive
- Different loan packages are available to fulfil certain requirements.
Disadvantages:
- Maximum loan amount is rather modest.
What products and services does the Snow Microfinance Bank provide?
Snow microfinance bank offers a wide range of goods and services in two main categories:
Loan:
Essentially, this category includes all the lending services available through snow microfinance bank. The following loans are available:
Quick Cash Loan
The quick cash service is for salaried individuals who want short-term loans to address financial problems. Essentially, it allows you to borrow up to 80%—100% of your monthly pay for 90—180 days. However, you may only borrow a maximum of N500, 000 from this loan. Read also How to Apply for Polaris Bank Payday Loan
Features
- You must be a part of a private firm with at least ten employees.
- Blue-chip company employees
- Civil servants and government employees
- Your pay must be deposited into a back account rather than being paid on the spot.
- Collateral is needed.
Biznes Loan
Snow Microfinance Bank’s ultimate lending package is the Biznes loan. As a result, it gives you up to N1 million to spend on any business asset of your choice. This is one of the methods for obtaining fast cash loans for your Nigerian business. Find out How to Apply For UBA Loan and Get It
How can I apply for a bank loan from Snow Microfinance?
It is extremely simple to apply for their loan. Follow the steps below to get started:
- Log on to the official Snow Microfinance Bank’s loan portal.
- Choose the type of loan you want to apply for.
- Before proceeding, review the loan’s features and criteria.
- When you’re finished, hit the apply now button at the bottom of the page.