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HomeLoansZenith Bank Loan For Salary Earners - Requirements and How to Apply

Zenith Bank Loan For Salary Earners – Requirements and How to Apply


The zenith bank loan for salary earners is a type of loan that makes it easy for salary earners to get a huge sum of money easily and solve their pressing needs why they pay back monthly using part of their salary.  


Borrowing money or taking loans from banks is inevitable, especially with the rise of things on daily basis. To make it even more demanding, everyone needs money to make living comfortable – either to meet a need or to pay for expenses when there arrives a need for it. 


sometimes, expenses above one’s budget make borrowing even a must, so we seek a solution. Other times, we may even need a loan to help execute a pressing project. But how and where we get this loan contributes greatly to how well things turn out in the end. 


while most people may prefer to get loans from individuals or other private loan sectors, the number and most recommended means of getting quality loans still remains the bank. 


This is why I have put together this post on the Zenith bank loan for salary earners to inform you of all you need to know before applying for their loan. 


So in this article, our focus would be on loans but specifically on the Zenith Bank loan for salary earners. Before delving into the subject matter in detail let’s take a look at what a loan is.

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What Is A Loan? 

Loans simply put is an agreement between two people whereby one person known as the lender gives a specific amount of money to the other party known as a borrower with intention of the money being returned at a given date with an agreed rate of interest attached to it.


Loans are beneficial to both party as the lender make a profit from it and the borrower has his immediate needs for taking such a loan solved.

Loans could be gotten from different people, it could be from friends, colleagues, financial institutions, online apps e.t.c.


When it comes to loans provided by financial institutions it varies in different kinds depending on what their customers want. Loans offered by most financial institutions came out of the desire and willingness of the financial institutions to help individuals who need financial assistance either for personal reasons, business, education .e.t.c. and it could be for a short or a long-term needs or expenses pending the terms of the contract.

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Zenith Bank Loan Services 

Zenith bank is one of the leading banks in Nigeria. They offer a wide range of financial services to their numerous customers and they are also known for their excellent customer service support and the quick, easy, and cheaper loan options it offers.


When it comes to loan services, Zenith bank has a wide range of loan options. They offer both long and short terms and it comes in different categories. Some of these categories include:


  • Individual Loan

One of the Zenith bank loan for salary earners is the individual loan. Although non-salary earners can acquire this loan, it is much easier for salary earners. It is a regular kind of loan that individuals apply for due to personal reasons and most times this loan requires collateral before it is initiated. Examples of individual loans include personal loans, asset acquisition loans, mortgage loans e.t.c.


  • Business Loan

This kind of loan is used mainly for business purposes. Individuals or corporations who take up this loan usually use it to start off a business. Collateral is required most times for this kind of loan. Some of the kind of loan in this category includes Small and medium enterprise loan( SME loan), Z-Woman business package, Term loan, Export finance facility, Import finance facility e.t.c


  • Education Loan

This loan initiative is designed to provide short-term funding to enable guardians the ability to pay tuition for their children.


  • Salary Advance Loan

Well, this post is mainly about the Zenith Bank loan for salary earners. This loan is restricted to only salary earners who require financial assistance for short-term needs or expenses and this kind of loan is very easy to acquire, Collateral is not required in this loan option and it also has one of the lowest interest loan rates. This loan option is the main focus of this study

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Also, check out the Sterling Bank Loan Including  Code

About Zenith Bank Salary Advance Loan

The zenith bank salary advance loan; as the name implies is a type of credit facility by Zenith bank and it comes with a low-interest rate., this type of loan service offers up to 60% of the borrower’s salary, and it comes with an interest of less than 5% with easy repayment option. This simply means that a person can borrow up to 60% of his salary in advance from Zenith bank and it’s expected to be returned once a person receives his next salary including the interest rate. 


It does not require collateral and it is beneficial to those who need financial assistance but are not eligible for the regular loan options. This loan scheme was designed to finance short-term needs or expenses that may arise before your next monthly salary. This kind of loan offer is available to only confirmed and professional salary account holders for a selected group of companies.


The interest rate is 26% per annum, which is 2.16% per month. In addition, the bank also charges a 1% flat management fee subject to a minimum of N5,000.



Requirements for the Zenith Bank Salary Advance Loan.

Individuals need to know the necessary requirement to see if they are eligible for the loan option.

The following are the requirement for Zenith bank salary advance loan


  • The salary and allowances of the applicant must be affiliated or domiciled in Zenith Bank which means that the payroll account(salary account) of the applicant must be opened in zenith bank.


  • It comes with an indemnity clause in which for any reason the applicant defaults in payment when due, Zenith bank has the right to recover the debt by accessing other funds the customers may have in other Nigerian banks using the applicant BVN (Bank verification number).


  • Applicants are expected to be within the age limit which is a minimum of 18 years and less than 60 years.
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  • Applicants must earn a minimum of 10,000 Naira per month to be considered eligible for this loan.


  • Applicants must ensure that they do not have any pre-existing loans with the bank or with any other bank and they must have a good credit history with the bank.


How To Get The Salary Advance In Zenith Bank

There are three ways of getting this loan from zenith bank and these includes:

  • Go to any zenith bank branch closest to you and apply for it.
  • Applying for it by using the zenith bank USSD code which is *966#. This is the bank USSD code used to carry out almost any zenith banking transaction straight from your mobile phone.
  • Using your emails: 

Your application will then be assessed and evaluated to see if you are eligible, should you be approved, funds will be advanced but it’s subject to you meeting certain terms and conditions and these terms and conditions will be laid out, most times in an approval letter.

If you use Access Bank, then check out Access Bank Loans Including The Loan Code


How Is The Salary Advance Loan Paid Back

The salary advance loan is paid by deducting from the customer’s zenith bank salary account once the next salary is paid by his employer. 



From the above research presented, you can see among the various loan types offered by the banks, the salary advance loan is the most suitable for salary earners.


Getting a salary advance loan is not restricted to only Zenith banks, most banks offer this loan service. It’s important to note that one must ensure that the loan must be taken for a significant reason. As loan assists individuals with a need or expenses that arise, it has to be paid back in the long run and misuse of it could be devastating. 

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