Account Packages

MICRO LEASE ACCOUNT

Available to individuals and Small Scale Enterprises to purchase equipment needed without funding the purchased equipment directly.

  • The customer identifies the desired equipment (Electronics, household utensils, Commercial Buses, Car Engines, Hair Saloons, EPL Viewing Centres, etc ).
  • The customer must provide at least 30% Equity Contribution of the equipment being requested, excluding management and processing fees.
  • Lending rate is subject to the type of equipment and associated risks
  • The bank purchases on its own name directly from the supplier and customer take possession.
  • Ownership is reversed after full repayment of the loan facility.
  • The leased asset may be comprehensively insured in the bank’s name until full repayment is obtained.
  • Additional security may be required subject to the nature of the micro lease.
  • Account can be opened either as savings or current account.
  • Minimum opening balance of N20,00.00
  • Repayment can be stretched up to 12 months duration.
  • Customer will have access to the account if no longer needed to buy the item.