Fidelity Bank Personal Loan: Fast Approval, Low Requirements, Flexible Repayment

Fidelity Bank’s Personal Loan is a competitive salary-backed loan designed for both private and public sector employees whose salaries are paid into a Fidelity Bank account. With an attractive interest rate of 2% per month (24% per annum), a maximum loan term of 12 months, and a swift approval process with no documentation required, this offer stands out.

Applicants need a salary account active for at least six months and a good credit balance to qualify. Loan amounts range from N10,000 up to 40% of net annual salary, capped at N5 million, ensuring flexible funding for diverse needs.

How to Apply: Step-by-Step

1. Ensure your salary is domiciled in Fidelity Bank for six months or more.
2. Dial the USSD code *770*08# on your mobile phone.
3. Follow the prompts to complete the loan application process.
4. Wait for a quick approval and disbursement, typically within minutes.

Why Choose Fidelity Personal Loan?

This loan stands out due to its low interest and flat management fees. There is also a substantial maximum loan size for qualifying salary earners. The application process is seamless—no paperwork and no collateral required apart from salary domiciliation.

The USSD channel makes it very accessible, even for those without regular internet access, giving it a broad appeal across Nigeria.

Potential Drawbacks

Only current Fidelity Bank customers with salary accounts for six months or more are eligible, potentially limiting access for new or non-Fidelity clients.

The loan amount is tied to your salary level, so those with lower incomes may qualify for smaller loans, which may not meet all needs.

Verdict on Fidelity Personal Loan

For Nigerians who receive regular salaries and want a hassle-free personal loan, Fidelity Bank’s offer is reliable and quick. The clear terms, speed, and flexible repayment structure make this a notable choice among salary-backed loans in Nigeria.