What are the requirements to access a bank loan in your country?

[Kross]

Bank loans have different kinds of requirements from place to place. From needing to operate an account with that bank for a specified time to having a certain level of transaction volume on the account.

What are the requirements to access a bank loan in your country?

 

[Min George]

The conditions to get a bank loan is always very tough in my country. It is almost impossible to get it if you are a middle class person because you need a collateral.

 

[Augusta]

To access loan you need to be a bank customer for at least 6 months. You need to have your documents and legal ones like BVN, Nin and your utility receipts same with having a collateral

 

[Springtime]

First of all, you need to be a customer of the bank. That means, you have an account with them. To access a bank loan, you need to have good credit rating. And in most cases, provide a collateral.

 

[Trush Jodie]

Some loans require that you bring two civil servants who are at the peak of their career as guarantors.

 

[Xtynehappy]

The most important thing the bank consider mostly is the collaterals for the loan. The borrower should present an asset with equivalency to the loan amount and some guarantors that can be held accountable in case something happens to the borrower and fails to repay the loan on time.

 

[Kera]

What people don't know is that the bank are running a business and when they place high requirements to get a loan, they are trying to protect themselves too from the risks of people absconding with disbursed loans.

 

[Xtynehappy]

Bank loans are very helpful when being spent wisely. Therefore be advised that loans are very addictive and they should not treated as something that can help one to become rich overnight.

 

[King Belieal]

There is always an option to go for online loans. They are very easy to access but with very high interest rates.

 

[Kross]

There is always an option to go for online loans. They are very easy to access but with very high interest rates.

Online loans are easy to access but their interests are too much and they are capable of easily damaging your credit score.