Heritage Bank Personal Loans

Personal Loans to Meet Your Goals

You can stop wishing now, and take that step toward gaining possession of what you desire that will enable you get to where you are going.

We are tuned to helping you access the loans that fit your goals, as well as your current lifestyle.

Also check out our Small Business Loans

sme-shop-icon-3dWe have a category of loans all tailored to support Small Growing Businesses in the Nigerian space and enable them compete in a global economy

Open a tab below to find out about any of our personal loans

SALARY ADVANCE

This is designed for salary earners who require an advance before salary due date to meet urgent needs. It allows salary earners address cash challenges within the month easily and conveniently.

TARGET MARKET

The product is specifically targeted at staff of private companies, ministries, parastatals and government establishments with salary accounts domiciled with the Bank.

PRODUCT FEATURES

Facility: Salary Advance
Facility Amount: 50% of net monthly salary and single obligor limit of N500,000
Tenor: The tenor for this product is 30 days subject to the next pay day
Repayment: Monthly rental from salary domiciliation
Security: Salary domiciliation
Eligibility:

  • Applicant’s salary must be domiciled with Heritage Bank.
  • Applicants in paid employment must have been working for the current   employer for at least six months and must be a confirmed staff.

For activation and further enquires

  • Visit the nearest Heritage Bank experience centre
  • Call our 24/7 contact centre on 01-2369000 OR send an eMail to info@hbng.com

AUTO LOAN

This is a loan facility designed to part- finance the purchase of brand new vehicles for personal use by staff of select organization

TARGET MARKET

The product is specifically targeted at confirmed staff of companies whose salary accounts are domiciled with Heritage Bank.

PRODUCT FEATURES

Facility Amount: Single Obligor Limit of N10M
Tenor: 12-48 months
Repayment:

  • Monthly Repayment will be from the salary account domiciled with the bank
  • Irrevocable standing payment order authorizing deduction of repayment from salary account confirmed by customer’s employer and also pledging terminal benefits.
  • ISPO should be from central pay office, Bursar, Financial dept of employer, it should be signed by authorized signatory and confirmed by ICU
  • OR, Postdated cheques from salary account

Security: Vehicle will be registered in the name of the Bank
Benefits:

  • Free Vehicle Registration
  • Free first year AA rescue membership
  • Free Auto tracker for the first year
  • Free Comprehensive insurance on cost of vehicle

Equity Contribution: 20% equity contribution
Age Limit: Applicants should not be more than 60 years at the point of full liquidation, Maximum application age for Professors 65 years, Judges 70 years

For activation and further enquires

  • Visit the nearest Heritage Bank experience centre
  • Call our 24/7 contact centre on 01-2369000 OR send an eMail to info@hbng.com

PERSONAL LOAN

This is designed for salary earners who require finance to meet urgent needs and other cash challenges

TARGET MARKET

The product is specifically targeted at staff of private companies, ministries, parastatals and government establishments with salary accounts domiciled with the Bank.

FEATURES OF PERSONAL LOAN

Facility Amount: Determined by 33.3% of take home, Subject to N5million
Tenor: 12-36 months
Repayment: Maximum repayment per month should not exceed–33.3% of net monthly salary (i.e. ‘take-home pay’)
Security:

  • Salary domiciliation, plus terminal benefits/gratuity domiciliation( as applicable)
  • Personal guarantee with Notarised statement of net worth

For activation and further enquires

  • Visit the nearest Heritage Bank experience centre
  • Call our 24/7 contact centre on 01-2369000 OR send an eMail to info@hbng.com

PERSONAL LOAN TOP-UP

This is designed to allow salary earners with existing loans avail the amount already paid down to meet personal exigencies and other cash challenges.

TARGET MARKET

The product is specifically targeted at staff of private companies, ministries, parastatals and government establishments with salary accounts domiciled with the Bank.

FEATURES OF PERSONAL LOAN TOP-UP

Facility Amount: Subject to the existing retail loan
Tenor: 12-36months
Repayment: Maximum repayment per month should not exceed–33.3% of net monthly salary (i.e. ‘take-home pay’)
Security: Salary domiciliation, plus terminal benefits/gratuity domiciliation
RAAC:

  • Applicant must have paid up to 50% of his/her running facility
  • Applicant must have been consistent in meeting his/her monthly obligations
  • Applicant must have been servicing the existing loan facility for a minimum of period of 6months with
  • The top-up amount is applicable to the same amount repaid by customer

For activation and further enquires

  • Visit the nearest Heritage Bank experience centre
  • Call our 24/7 contact centre on 01-2369000 OR send an eMail to info@hbng.com

TERTIARY CLUSTER STAFF LOAN

This product is designed for staff of federal government tertiary institutions, enlisted state government tertiary institutions and private tertiary institutions in need of loan facilities to bridge financial gap. 

TARGET MARKET

Regular staff of federal tertiary institutions, enlisted state and private tertiary institutions.

FEATURES

Facility Amount: Minimum of ₦250,000.00 and Maximum of ₦5,000,000.00
Tenor: 12-36 months
Repayment:

  • Monthly Repayment will be from the salary account domiciled with the bank,
  • Irrevocable standing payment order authorizing deduction of repayment from salary account confirmed by customer’s employer and also pledging terminal benefits.
  • ISPO should be from central pay office, Bursar, Financial dept of employer, it should be signed by authorized signatory and confirmed by ICU.
  • OR, Postdated cheques from salary account

Age Limit: Non-Academic Staff  – 60 years, Academic Staff –  65 years, Professors – 70 years
Security:

  • Repayment will be from the salary account domiciled with the bank  OR
  • Irrevocable standing payment order guaranteeing deduction of repayment from source
  • Monthly payment (Maximum repayment per month should not exceed–33.3% of net monthly salary (i.e. ‘take-home pay’).

Repayment:

  • Repayment will be from the salary account domiciled with the bank  OR
  • Irrevocable standing payment order guaranteeing deduction of repayment from source
  • Monthly payment (Maximum repayment per month should not exceed–33.3% of net monthly   salary (i.e. ‘take-home pay’).

Eligibility: Federal Government owned tertiary institutions with or without domiciled salary and enlisted State Government/private institutions

For activation and further enquires

  • Visit the nearest Heritage Bank experience centre
  • Call our 24/7 contact centre on 01-2369000 OR send an eMail to info@hbng.com

SMART ADVANCE

Smart advance is a product designed for individuals who require an advance before salary due date to meet urgent needs.

TARGET MARKET

Individuals in paid employment whose salaries, allowances and other benefits are domiciled with Heritage Bank.

FEATURES AND TERMS OF SMART ADVANCE

Facility Amount: 50% of net monthly salary and Single obligor limit of N500,000
Tenor: The tenor for this product is 90 days
Repayment: The monthly repayment in addition to existing repayment obligation(if any) shall be subjected to DSR of 33.3% of the net monthly pay
Eligibility:

  • Domiciliation of salary with Heritage Bank customer must be a confirmed staff of the organization
  • 3 months’ salary domiciliation

Documentation: Loan application and employer undertaking form

For activation and further enquires

  • Visit the nearest Heritage Bank experience centre
  • Call our 24/7 contact centre on 01-2369000 OR send an eMail to info@hbng.com

HOME APPLIANCES LOAN

The product is designed to facilitate acquisition of home appliances for customers whose salaries are domiciled with Heritage Bank

TARGET MARKET

This product is targeted towards staff of the above listed institutions whose salaries are domiciled in the bank.

FEATURES

Facility Amount: Single Obligor limit of N1million
Tenor: 6-18 months
Repayment:

  • Maximum repayment per month should not exceed–33.3% of net monthly salary (i.e. ‘take-home pay’).
  • Monthly repayment shall not exceed 33.3 of self-employed individuals income
  • Monthly interest repayment should not exceed 33.3% of net monthly pay
  • Ownership of Asset financed

For activation and further enquires

  • Visit the nearest Heritage Bank experience centre
  • Call our 24/7 contact centre on 01-2369000 OR send an eMail to info@hbng.com

NIGERIAN ARMED FORCES PERSONAL LOAN

The product is designed for all rank and file officers of the following:

  1. Nigerian Army
  2. Nigerian Navy
  3. Nigerian Police Force
  4. Nigerian Security and Civil Defence Corps
  5. Nigerian Air force

This is to enable them access funds to meet urgent needs and other cash challenges.

TARGET MARKET

This product is targeted towards staff of the above listed institutions whose salaries are domiciled in the bank.

FEATURES

Facility Amount: Subject to 33.3% of monthly salary maximum of N3,500,000 (Three Million Five Hundred Thousand Naira)
Tenor: 12-36 months
Repayment: Repayment will be from the salary account domiciled with the bank
Age Limit: Non-Academic Staff – 60 years, Academic Staff – 65 years, Professors – 70 years
Security: Domiciliation of Salary; Credit Life Insurance and Third Party Guarantee
Repayment: Repayment will be from the salary account domiciled with the bank

For activation and further enquires

  • Visit the nearest Heritage Bank experience centre
  • Call our 24/7 contact centre on 01-2369000 OR send an eMail to info@hbng.com
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