Diamond Bank Personal Loan – Competitive Rates With No Hidden Costs
The Diamond Bank Personal Loan focuses on the employees of organizations as the bank considers them a key and essential part of the entire process.
Diamond Bank encourages entrepreneurs and entrepreneurs to guide their employees towards financial independence using the salary management product that the bank offers.
What are the features of the Diamond Bank Personal Loan?
Diamond Bank Personal Loan features include flexibility in meeting the needs of each individual.
For applicants with terminal benefits, the loan amount is up to 75% (based on the annual net salary).
For applicants who do not have the terminal benefit, the amount is up to 50% of the annual net salary.
Other factors related to the Diamond Bank Personal Loan are credit life insurance and the 36-month tenure guarantee.
About the requirements that the Diamond Bank Personal Loan demands
Some criteria are required to apply for a Diamond Bank Personal Loan, such as completing the application form properly.
The employee must complete the consultation with their status, which must come with an employer confirmation form.
You also need to have a proof of confirmation, which could be the last promotion letter for example, or a direct letter of confirmation.
You must have a copy of the job identification as well as valid means of job identification.
Credit check, BVN and a letter of guarantee or departure are part of the documentation determined by Diamond Bank when purchasing personal loans in accordance with the provisions set forth above.
Access to device finance
You can upgrade your mobile device by financing the purchase with a contract that includes monthly time package.
Free packages come with MTN, have up to twelve months and the process flow can be done by the Quickbucks app.
Once you download it from your smartphone’s app store, enter your email address and phone number to receive an SMS OTP for verification.
Once verified, you will need to create a password to log in to the app, as well as a PIN that will be used for the transaction.
Next you will enter your personal data as:
- Salary Account Number;
Finally, agree to the terms and conditions and click on “device financing” to complete the other required details.
Go to “get this device” to receive the transaction code by mail along with the requirements for withdrawing the device.
Types of Diamond Bank Personal Loan:
Payday Loan is for contingencies that arise prior to the payment date, and at Diamond Bank you can get this money by dialing * 901 * 11 # or * 426 * 11 #, or through internet banking, access mobile app, quickbucks banking app or whatsapp.
Suitable for salaried and self-employed customers, the payday loan has a low interest rate, no collateral and no documentation.
The service is provided 24 hours a day for 7 days a week and requires no visits to the bank, with a term of thirty-one days.
W Power Loan
The W Power loan was created with women’s power in mind to reduce the funding gap for women-owned businesses (at least 50% female-owned) operating in the following sectors:
- Beauty and wellbeing
- Hotel and Tourism
The loan can be made over time for those who want to acquire assets and infrastructure upgrades, with the purpose of buying equipment, machines, and everything that needs to grow the business.
It can also be done by working capital to buy raw materials or to remedy other day to day operating expenses.
According to the classification and type of company you can access up to 100 million Naira in loans.
The business, run by women, must be operating for at least 1 year and annually earn at least 5 million Nairas.
If there are new account holders, it must be operating for at least 30 days, and finally other credit checks, conditions and terms may apply.
Loan for the creative sector
The Central Bank of Nigeria has taken this initiative to empower and generate jobs for people and businesses in the following areas:
- Information Technology (IT)
- Movie Distribution
- Software Engineering Student Loan
- Film production
Benefits of creative lending include single-digit financing, flexible structure, low cost to the business, repayment plans, increased chances of achieving long-term business goals and great financial advisory service.
To apply for the creative loan you will need to prepare a business plan to know the amount required to invest in your business.
You can apply at any Access bank branch with the above statement or online through the creative lending portal.
There is a maximum interest rate of 9% per year with all charges included and the maximum repayment period is 3 years for loans directed to software engineering students and 10 years for the remainder.