Why Some Covid-19 TCF Applicants Have Not Received their Loan

The information reaching our news desk indicates that some people that applied for Covid-19 TCF Loan are yet to receive their loan from the Nirsal Microfinance Bank (NMFB). Here we will walk you through over why some applicants are yet to get their loan.

According to the Nirsal Microfinance Bank, below are possible reasons some applicants have not received their covid-19 loan after submitting application;

1. Applicant are a ‘tier 1 account’ holder. If that is the case, visit your bank to upgrade your bank account.

2. The names they used during application do not match with the one on their bank accounts. Please ensure that the name on your application matches with the name on your account to avoid error during payment.

3. They are found not eligible for the loan.

Kindly note that this applied to the first batch applicants (those that applied for the loan in 2020 and have not been credited).

However, it would also serve as guide for new applicants.

For those who applied for the loan in 2021 or about to apply, kindly take note of the above information to avoid error that could hinder your application from being processed.

NOTE: The 2021 Covid-19 CTF application is still ongoing, check out Covid-19 Loan Support Form (Steps to apply).