Loan Products

At Accion Microfinance Bank, we offer a range of Loan products tailored to our customers’ needs and lifestyle.

My Own Loan (Small loans for individuals)

This loan provides working capital for micro-entrpreneurs who desire to grow their businesses.

My Own Loan Plus (Larger loans for individuals)

This is a larger working capital loan for small business owners that offers personalized cheque books. 

My Own Asset Loan (Fixed asset loan for small business owners)

My Own Asset Loan is an asset financing loan designed for micro entrepreneurs and small business owners who desire to acquire assets for their businesses.

PAYGO (Overdraft) (Customised overdraft)

This is a customized loan with the features of an overdraft. It enables you withdraw from your account beyond your actual balance and with an agreed repayment plan.

Our Own Loan (Group Loan)

This is a group loan for persons from a common area who form a group of 5-10 persons.

PLWD (People Living With impaired Disability)

This loan is meant for persons living with imparied disabilities.

My School Plus (Education based loans for schools)

This is a loan with an education focus. It is meant for school proprietors who desire to improve their schools.


There are no account opening charges.
RATES
Savings Account: 2% P.A ( interest earned by customer on account balance)
Lending Rates: Between 4% & 6% monthly plus admin fees and insurance totalling 3.5% of loan disbursed.
Cost of Cheque book: N750 per booklet
COT (where applicable): N5 per mille
SMS alert:  N10 per alert