Stanbic IBTC Instant Loan: Requirements, Interest Rate, How to Apply

Stanbic IBTC Instant loan: everything you need to know about the Stanbic IBTC Instant loan for employed and business owners in Nigeria and outside Nigeria.

Do you need a short term financing than a Fixed Term Loan? If yes then this article is for you.

The Stanbic IBCT Instant loan is a personal loan that provides you with the same interest rate and repayment al through the period of the loan.

NOTE: The Stanbic IBTC Instant loan doesn’t need any collateral and most importantly you will know the exact date you will payback.

What offers you?

  • Low-interest rates all through the repayment period.
  • You can access credit of up to 100% of your monthly income.

Stanbic IBTC Instant loan requirements

  • Your current employment must be up to or more than six months.
  • You must have a domiciled salary with them
  • You must be permanently employed or be a contract worker at any approved company with a valid contract term.
  • You must be a Nigerian citizen with a permanent residency.
  • You should be earning a minimum monthly income of N20,000.
  • You must fall within the age range of 21-60 years.
  • You must have a good credit report from the Credit Bureau.

Stanbic IBTC Instant loan customer care number/ services

Should in case you have any question concerning the Stanbic IBTC Instant loan, you can contact their customer service agent through;

Nigeria:  07003333333, 0700909909909

International: 1-422-2222

You can also reach out through email @ [email protected]

Types of the loan offered by the Stanbic IBTC Instant loan

Credit Cards

The Stanbic IBTC Visa credit card is a chip and payment card that gives you full access to a revolving line of credit to meet your cure financial needs at any given time.

What does it offer you

The Stanbic IBTC Instant loan has been designed to offer their customers various opportunities like;

  • Access to funds for cash withdrawal and point-of-sale (POS) purchase transactions at millions of merchant locations worldwide.
  • Up to 55 days interest-free
  • Exclusive offers and discounts.

How much will it cost you?

  • The Stanbic IBTC Instant loan charges a percentage on the interest accrued.

What do you need to apply?

  • You can contact their relationship officer or call their cards hotline 234 1 422 2222 and also you can as well contact them through email: [email protected]

Salary Advance

As a salaried employee, there are times you run out of cash and might some cash that will keep you till your next payment. The Stanbic IBTC Instant loan can be the best option here. It can be revolving so that you can use it anytime money is tight.

NOTE: You can remove your salary advance after 12 months, which is subject to a satisfactory review.

What does it offer you?

  • Quick access to your money.
  • A good flexible repayment option.
  • It’s affordable and secured.

Stanbic IBTC Instant  salary advance loan requirements

  • You must earn a minimum monthly income of N40,000 and must have a salary account with Stanbic IBTC bank for at least three months.
  • Minimum loan amount of N20,000.
  • You must have been employed for at least six months.
  • You must fall within the age range of 21-60 years old.
  • If you are a contract worker, note that you must be contracted to an approved company with valid contract terms.

Rental loan

The rental loan is a personal loan that helps you to meet up with your rent payments. The rental loan can be a short term or long term depending on your exact need.

What does it offer you?

  • A low-interest rate.
  • The minimum loan amount offered is N165,000, that means you can access loan up to 100% of your income.

Stanbic IBTC Instant rental loan requirements

  • You need to earn a minimum monthly income of N20,000
  • You must be employed for at least six months.
  • You need to have your monthly salary paid into your Stanbic IBTC account, i.e. you must have an account with them.
  • You must be permanently employed or be a contract worker with a valid contract term from any of their approved companies.
  • You have to be a Nigerian citizen with a permanent residency.
  • You must fall between the age of 21-60 years.
  • Most importantly, you must have a clean credit report from the National Credit bureau.

Overdrafts

The Stanbic IBTC Bank is one of the Nigerian banks that offers you an overdraft loan.  The overdraft loan can be the only solution when there is a tight economy. The overdraft can be resolving i.e. you can use it the countless time and it can be renewed after 12 months which is subject to a satisfactory review.

What does it offer you?

  • Quick access to money.
  • Flexible repayment option
  • Affordability and secured.

Stanbic IBTC Instant overdraft loan requirements

  • You must have a salary of at least N40,000.
  • You must have a salary account with them for at least three months.
  • The minimum loan amount offered is N20,000.
  • You must be employed for at least six months.
  • You must fall between the ages ranges of 21-60 years old.
  • If you are a contract worker, you must be contracted with any if the Stanbic IBTC Bank companies and with valid contract terms.

School fees loan

The Stanbic IBTC Instant loan is designed for parents who couldn’t afford to pay their children/child school fees as at when due.

What does it offer you?

  • You won’t be charged any withdrawal fee.
  • The interest will be calculated on the daily balance of your account and the loan is paid monthly.
  • Available in other foreign currencies like USD, EUR, GBP, ZAR, and Nigeria Naira.
  • There is no maximum balance on the account.

How much will it cost you?

The Stanbic IBTC Bank charges a percentage on the interest accrued.

Stanbic IBTC Instant school fees loan requirements

  • For you to apply for this loan, all you need to do is to have a current account with the required opening balance.

Personal loan

The personal loan is said to be a loan for the everyday living of an individual

What does it offer you?

  • Low-interest rates.
  • You can access the loan up to 100% of your monthly salary.

Home loans

Do you need a new house or you want to re-finance your current house, Stanbic IBTC Instant loan offers an outright purchase and homeowner loans which are also known as equity release home loans?

What does it offer you?

  • You can apply for the equity release or the outright purchase option.
  • They provide home loans for the following areas; Lagos, Ibadan, Port Harcourt, Ogun, Abuja, Kano, Kaduna, and Benin.
  • Flexible principle repayment options i.e. you can pay monthly, quarterly, or once or twice a year.
  • If you are self-employed or a business owner your maximum repayment period is seven years.
  • If you are employed, you can repay your loan as long as s20 years.
  • The minimum loan amount you can get is N3million naira.
  • The minimum property value for providing an equity release loan is N5million naira.

Stanbic IBTC Instant home loan requirements

  • You need to earn a monthly income of N200,000 for a home loan or N140,000 an equity release loan.
  • Your monthly salary must be paid into your Stanbic IBTC account.
  • You need to have a working experience with the same employer for at least 12 good months.
  • You must provide a letter of introduction from your employer or a copy of the letter of your employment if you have to be with your employer for less than 12 months.
  • If you work on a contract basis, you will provide them with a copy of your most recent contract.
  • You payslip for the last 3 months.
  • You are a citizen of Nigerian with a permanent residency.
  • Six months statement of account from another bank you operate if you Stanbic IBTC Bank were opened in the past six months.
  • A proof of your address, such as a recent utility bill or a billing document that shows your address.
  • A filled-in home loan application which you can get from any of their branches.

Car loans

The Stanbic IBTC Bank provides you with the opportunity to get the car of your dream based on convenient and affordable structured repayment, whether you are a new or existing customer.

What does it offer you?

With the Stanbic IBTC Bank, you can get:

  • A flexible repayment terms with up to four years tenor repayment.
  • They give access to competitive interest rates.
  • Access to their comprehensive dealers to help you get your dream car.

Stanbic IBTC Instant car loan requirements

For you to get started with your car loan, you must put the following requirements in place.

  1. A duly completed application form.
  2. A proof of income/ evidence of monthly salary domiciliation.
  3. A Proforma invoice for the care of your choice.

Generator loans 

The generator loan is an unsecured personal loan that provides loans to an individual who wishes to get a new generator set. The loan can be for a short term or a long term, depending on what you want.

What does it offer you?

  • Low-interest rate.
  • Collateral free loan.
  • You can access credit of up to 100%of your monthly income.

Stanbic IBTC Instant generator loan requirements

  • You need to be with your current employer for at least six months.
  • Your monthly salary must be paid into your Stanbic IBTC Bank account.
  • You must be permanently employed or be a contract worker with valid contract terms from their approved companies.
  • You should be a citizen of Nigeria with a permanent residency.
  • You must earn a minimum monthly income of N20,000.
  • You must fall within the age range of 21-60 years.
  • You must have a satisfactory credit bureau report.

Business working capital loan

The business working capital loan is a credit facility given to a business to meet its immediate ash needs. This business working capital loan provides immediate finance to your current business activities.

What does the Business Working Capital offer you?

  • The loan can be used to buy or upgrade the fixed property, finance fixed assets, capital expenditure or set up costs.
  • Your loan repayment can be spread to suit your business cash flow projections
  • A very good competitive interest rate is offered and it varies or fixed for the term of your loan.
  • It may not be used for the consolidation of debt or as a substitute for vehicle and assets finance.
  • The loan repayment ability is based on the past profitable or cash flow projections. Subject to first-class collateral.
  • The loan period is from 1year to 10years.

Stanbic IBTC Instant Business working capital loan requirements

For you to be qualified for this business working capital loan, you need to have been in business for about 1 year or more.

If you are, kindly visit any of the Stanbic IBTC Bank with the following documents.

  • Latest bank statement.
  • Directors’ personal balance sheets.
  • Cash flow projections for 12 months.
  • Resolution signed by the directors agreeing to apply for a business working capital loan.
  • Company profile.
  • Company registration documents
  • Your bank statement for the past six months.
  • Schedule of debtors and creditors.
  • Your bank statement for the past three months if you don’t have a business account with them (Stanbic IBTC Bank).
  • New customers need to open a transactional account.

Fixed-term loan

A fixed-term loan involves a pre-arranged limit over an agreed period of time. Under the Fixed Term Loan, they provide the following loans; UGX550,000 to UGX6million which will be repaid over 12 to 24 months. Note that the repayment of your loan will not be more than 30% of your net income.

What does the Fixed Term Loan offer you?

  • They help you meet both your short term and long term obligations.
  • Personal loan protection plan which covers death or total disability.

Stanbic IBTC Instant fixed-term loan requirements.

  • You are within the age of 18 to 60 years old for all other professions but up to 70 years for university lecturers.
  • You must have been with your current employee for at least 6 months.
  • Your net salary should be at least UGX 350,000.
  • You must also have managed the account responsibly with no dishonors.

NOTE: You are expected to have an account where your monthly salary was paid for at least 6 months. The account must be with Stanbic IBTC Bank for the last six months or with another bank for an additional three months.

If the previous account was held with another bank, you are expected to provide statements of your account held at other banks.

Unsecured personal loan

An unsecured personal loan/ Top-up loan is an additional loan amount that you can avail on an existing home loan, personal loan or even loan against property. You are eligible to apply for this loan only when you must have made some regular loan repayment on your existing loans.

What the Unsecured Personal loan offer you?

  • Money straightaway.
  • You could get your top-up straight away, as long as you apply online and agree to the pre-approved amounts and payment period calculated for your account.
  • Fixed monthly repayments.
  • Your loan repayments ill be fixed, and you can choose the repayment date which is suitable for you which will help you to budget and stay on top of your Top-up/Unsecured personal loan.

When should I apply for the unsecured/top-up loan?

Before you can think of getting n unsecured personal/top-up loan, you should consider the following;

  • You require urgent funds to meet your personal requirements.
  • You need immediate cash for your business expansion, marriage or vacation expenses.
  • You would prefer to take a short to medium tenure funds at low-interest rates.
  • You already have an existing personal loan that you have paid monthly installments on.
  • You want to get a loan with minimal no documents.

How can I apply for the unsecured personal/top-up loan?

  • Select ”Apply now” on the pop-up notification.
  • Enter the amount you would like to receive.
  • Select ”Show increased loan details”.
  • View details then select ‘Apply now”.
  • View the net disbursement amount and select “YES” to continue.
  • Review the details then select ‘Next”.
  • Tick on the confirmation box to accept terms and conditions.
  • Select “Accept”.
  • Enter the OTP (one time pin) sent to your phone.
  • Select “Verify”.
  • You will see a message- Congratulations! Your increased loan has been debited from your account.

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