Asset Finance Product
Asset Finance Product
- Mutual home offers credit facilities to customers to aid the acquisition of basic and necessary home needs and appliances.
- Mutual home need finance (Electronics and other home appliances).
- Public sector employees under Federal government payroll.
- Mutual Trust Asset Finance will be a COT free relationship.
Pre-Approval Documentation
- Letter of Introduction from employer
- 2 passport id
- Staff id card
- Alternative id card
- 2 recent payslip
- Application form/ Account opening form
- Sign off of a guarantor on the Loan Application Form and provision of guarantor’s IPPIS details
HOW IT WORKS
Get loan you can repay easily between
₦70,000 – ₦2,000,000
Loan repayment range from 3 months (90 days),
6 months (180 days), 12 months (365 days), and 18 months.
Monthly interest rates range from
3% to 4%
(APRs range from 35% to 48%).
Example of Mutual Trust Loans:
Loan amount of ₦1,000,000 borrowed over 12 months.
Interest rate (APR): 35.5% = ₦355,000
Total amount payable: ₦1,355,000
Monthly Repayment: ₦112,916.67 (In 12 months)
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