Jaiz Bank Loan: The Requirements, Different Forms Of Loan And All You must Know

The Jaiz Bank PLC is a Nigerian bank operating in different part of the country under the principles of the Islamic banking. The Jaiz bank is the first non interest bank in Nigeria.

It is a Private bank which was established in the year 2003 with its headquarters at the Federal Capital Territory of Nigeria, Abuja.

 

The Managing Director & Chief Executive Officer of the Jaiz Bank PLC is in person of Hassan Usman. The Jaiz bank provides customers with different forms of loan like business start up loan, study loan etc. They do not say they are giving you a ‘Loan’ per say. They say they would help you purchase a service and you pay back in installment.

 

 

The Requirements For Collecting Loan From The Jaiz Bank PLC

For all interested persons who wish to get the financial help from the Jaiz Bank PLC, the requirements are summarized below.

  1. A means of Identification for each of the signatory such as International Passport, National ID Card etc.
  2. One or two copies of your own utility bill given to you within the last three months.

Originals of these documents will also be needed for confirmation.

  1. The loan application form, completely filled with correct details.
  2. Your own means of identification such as your National Drivers Licence, National passport etc.

Originals of these documents would  be needed for confirmation too.

  1. Two reference forms, accurately filled and completed by an individual, or a corporate body that is already having a functional current account with any of the various banks in Nigeria.
  2. A personal guarantee form, completed by the individual.
  3. Self explanatory resolution for the loan (for companies only)
  4. A passport photograph each for every signatory.
  5. You must be a client in the Jaiz bank. That is, you must have an account with them, and your account must be at least three months old.

If you do not have an account with them already, go to the bank with the following documents to open an account.

 

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  1. Your National passport, ID card, driver’s license or another document that identifies you.
  2. The new Jaiz bank account opening application form.

This would be given to you at the bank. Fill it correctly with the aid of their customer care service or agent.

  1. Your employment letter from the firm or organization where you are currently working.
  2. Your worker’s ID in this same firm.
  3. Any of your current utility bill like rent, phone, water etc. that you paid for within the last three months.
  4. A clear, recent passport photograph of you.

 

 

How To Apply For Jaiz Bank Loan

  1. Visit the Bank’s website at jaizbankplc.com
  2. Navigate through the page and click on the loan application tab.
  3. Click on apply now and select the type of loan you want to apply for.

The loan application form would be displayed.

  1. Fill it correctly and upload your passport photographs.
  2. Print the application form and submit.
  3. Go to the bank with the required documents and your hard copy application form.
  4. You would be given further directions by the bank’s customer service.

 

 

Conclusion

If you have meet the requirements above, the Jaiz bank would definitely give you the loan.

They are straight forward because they are running in the Islamic bank system.

And another good thing is that this loans are interest free.

You will not pay any interest on the money you are receiving.

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