Lotus Bank Loans

Lotus bank is one of the fastest-growing new-era banks. The bank which is a non-interest bank offers awesome financing schemes to help salary earners meet up with their urgent financial needs. Before we take a look at the bank's loan scheme, let's learn more about Lotus bank: its core values and what they stand for.

About Lotus Bank

Lotus Bank is a Nigerian non-interest bank dedicated to ethical investing and success. Its roots are in ethical banking. its goal is to increase non-interest products available to the banked, unbanked, and underbanked population while also strengthening financial inclusion. The bank's principles are audacious, and moral, and encourage innovation. They demonstrate its ambition to provide a unique client experience that benefits Nigerian companies and increases shareholder value. Lotus bank's culture is shaped by adherence to a set of values that cover all the bank's stakeholders and helps achieve its ambitious Vision and Mission. 

The bank's core values are:

• Innovation
• Leadership
• Excellence
• Professionalism
• Integrity
• Team Spirit
• Empathy
• Social Impact

Lotus Bank Loans

Let us take a look at the bank's loan facility which can be beneficial for salary earners. Please note that as of the time of writing this article, Lotus bank has not commenced a salary advance loan. Notwithstanding, the bank has other loan products suitable for salary earners and the good news is that it is interest-free.

LOTUS RIDES (AUTO FINANCE)

The bank's extensive selection of finance plans and payment options meet all personal and professional needs, whether you're investing in a fleet of vehicles, a single vehicle, or a brand-new or moderately used vehicle. To apply for this loan, CLICK HERE

Features

• Competitive and affordable monthly rentals/Repayment
• New or Used Cars (up to 5 years old vehicle from verified dealers)
• Local or Foreign Used
• Payment plan tenured up to 5 years
• Bank to establish a partnership with Vehicle Dealers
• LOTUS Bank will finance up to 70% of the value of the car
• Low takaful/insurance rates

Eligibility Criteria

• Age Eligibility: 24 - 50 years
• Salaried OR Self-Employed (5 years experience in business)
• Small Business Owner (3 Years experience)
• 3 months payslip
• Salary domiciliation
• Other Bank statements (12 months)
• Asset as Security
• Equity contribution of 30%

HOME APPLIANCE FINANCE

With this loan, you can plan and enjoy a finance plan that supports your decisions. To apply, CLICK HERE

Features

• For the acquisition of Home appliances
• Flexible repayment of up to 12 months
• Partnership with Home Appliance/Gadget sellers (FOUANI, Samsung, etc.)

Eligibility Criteria

• Salary Account Holder
• Salary domiciliation
• Select Employers/Organisations
• Post-dated Cheque from select Banks
• Asset purchased is the security
• Employment Letter
• Statement of Account from other Banks
• Payslip (3 months minimum)

LOTUS All-Purpose Finance

With this All-Purpose Financing (APF), meeting your personal and business need is one less thing to worry about. To apply, CLICK HERE

• Used to finance personal and business needs.
• The Bank appoints the customer as its agent to source for the goods/assets the customer wishes to purchase.
• Tenor: Up to 36 months
• Affordable and competitive pricing
• Zero Facility Processing Fees
• Zero Account Maintenance Fee
• Access to LOTUS Digital Services including Internet Banking, Mobile Banking, and many more

Eligibility Requirements

• Age Eligibility: 18-50 years
• Salary Account Holder
• Self-Employed - 8 years experience in business
• 6 months payslip
• Other Bank statements where applicable (12 months)
• Asset as Security
• Minimum Equity contribution of 20%
• Asset purchased will be used as additional security
• Additional Security may apply
• Monthly payment: Maximum 33% of net take-home salary

Governing Contract

• Murabaha (Cost Plus)

LOTUS HOMES (HOME FINANCING)

Buying a dream house, investing in properties, or looking to reduce your finance payment? LOTUS Home Finance is here to help. To apply for this loan, CLICK HERE

Features

• Quick and convenient home ownership scheme
• Home Purchase & Home Construction
• Tenured up to 20 years and subject to customer's age till retirement
• LOTUS Homes will finance up to 70% of the value of f the property
• Low takaful/insurance rates

Eligibility Requirements

• Age Eligibility: 24 - 50 years
• Salaried OR Self-Employed (8 years experience in d business)
• Small Business Owner (5 Years experience)
• Salary domiciliation
• Other Bank statements (12 months)
• Asset as Security
• Equity contribution of 30%

LOTUS EDUCATION FINANCE

Looking to give your kids the best? Planning to increase your professional knowledge? LOTUS Education Finance is designed to take the stress out of learning. You can use it to finance primary, secondary, or university education. To apply, CLICK HERE

Features

• Used to finance personal and business needs.
• The Bank appoints the customer as its agent to source for the goods/assets the customer wishes to purchase.
• Tenor: Up to 36 months
• Affordable and competitive pricing
• Zero Facility and Processing Fees
• Zero Account Maintenance Fee
• Access to Lotus Digital Services including Internet Banking, Mobile Banking, and many more
• *Subject to applicable terms and conditions

Eligibility Requirements

• Age 18-50
• Salary Account Holder
• Self Employed -8 years' experience in business
• 6 months payslip
• Other bank statements where applicable (12 months)
• Asset as security
• Minimum equity contribution of 20%
• Asset purchased will be used as additional security
• Additional security may be apply
• Monthly payment: 33% of net take-home salary