Standard Chartered Bank Nigeria
Get an unsecured loan up to ₦35M, flexible repayment up to 60 months, and low 2.19% monthly interest. No collateral required for employed individuals earning a salary.
Standard Chartered Bank Nigeria offers one of the most accessible personal loans for employed individuals earning a regular salary. With interest rates as low as 2.19% per month and a generous maximum amount of ₦35 million, this loan is perfect for those looking for financial flexibility. The loan comes with a repayment term of up to 60 months, making it ideal for managing larger needs without collateral.
Unlike many options in the market, no security or guarantor is required—you just need to have your salary domiciled with the bank. The bank also allows top-ups during your loan tenure if you meet repayment requirements. Standard Chartered provides a convenient, fast approval process especially suited to salaried professionals with a minimum income of ₦120,000 and aged between 21 and 60 years.
How to Apply for Standard Chartered Personal Loan
- Complete and sign the loan application form.
- Gather your bank statements and pay slips for the last 3 months.
- Obtain a letter of awareness from your employer to domicile your salary.
- Submit all documentation to Standard Chartered Bank Nigeria.
- Wait for the application to be reviewed and approved.
Pros of Standard Chartered Personal Loan
This loan is entirely unsecured— meaning you do not need collateral or a guarantor. The repayment terms are extremely flexible, up to 60 months, letting you control your finances with ease.
Interest rates are competitive at 2.19% per month, and there is the potential to borrow sizable amounts up to ₦35M. Early repayments attract no penalties, adding convenience and saving costs.
Cons of Standard Chartered Personal Loan
Eligibility is strictly for salaried employees of approved companies only, which may leave out self-employed applicants. Also, a salary minimum of ₦120,000 could be restrictive for some.
Another consideration is the requirement to move your salary to Standard Chartered Bank, which may not be convenient for all borrowers.
Verdict
Standard Chartered Bank Nigeria’s personal loan stands out for its accessibility and flexibility for eligible salaried workers. It’s an excellent solution for individuals with steady income seeking a sizable, risk-free loan without the hassle of collateral or excessive fees.
If you are employed, earning enough, and can domicile your salary with the bank, this offer ranks among the best unsecured loan options in Nigeria.