Titan Trust Bank is giving out credit facilities to business owners and individuals who have no debts with other banks or financial institutions.
The loans are term loans given to customers with individual current account or business owners with corporate current accounts.
According to one of the marketers with the bank who to Newsway on condition of anonymity revealed that, new account holders with the bank (Titan Trust) who have operated their accounts for at least three months can apply for a facility.
Eligibility
As stated above, anyone who have outstanding debts with other banks or financial institutions which remained unpaid may not be considered for a facility. However, criteria for obtaining loan facilities from Titan Trust Bank are listed as follows:
1. The customer must have operated his or her account with Titan Trust Bank for at least three months to qualify for a facility.
2. Loan applicants must not have their BVNs blacklisted by Credit Bureau. Note that once a loan is fully settled, the bank or financial institution will remove your details from the credit bureau.
3. Customers must have had cash inflow from their main accounts for at least six months.
4. Loan applicants must be at least 18 years of age and above as stipulated in the constitution.
5. Must have a personal Bank Verification Number (BVN).
6. Must have a valid means of identification. This could be any one of the following (National ID, Voter’s Card, Driver’s License and International Passport)
The marketer also noted that female owned businesses are more favoured. Their businesses should revolve around Fast Moving Consumer Goods (FMCG).
What are Fast Moving Consumer Goods (FMCG)?
These are products or goods which can be sold quickly and of course at a lower price too. These are mostly household items that are often needed by families .
Individuals who are engaged in this kind of businesses are most likely to obtain a credit facility from Titan Trust Bank.
How to apply?
1. To get started, first you need an account from Titan Trust Bank so you need to Open Account Here to proceed.
2. After opening the Titan Trust Bank account, you can visit the nearest branch for documentation. Those who are resident in Abuja may visit the Wuse Branch of the bank for documentation.
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