Zenith Bank Personal Loan (Education) is a loan product by Zenith Bank, one of the leading financial institutions in Nigeria. It is designed to help students pay for their education. The loan can be used to pay for tuition, fees, books, and other expenses.
The loan facility is offered with a minimum amount of N100,000 and a maximum amount of N5,000,000. With Zenith Bank Personal Loan (Education), the school fees is paid directly to the child or ward’s school.
It also has a maximum tenor of three months for Junior School, and a maximum tenor of nine months for Tertiary Institutions.
FAQs about Zenith Bank Personal Loan (Education)
Who can apply for Zenith Bank Personal Loan (Education)?
Anyone who is a parent, or a student of a tertiary institution can apply for a Zenith Bank Personal Loan (Education).
To be eligible for a Zenith Bank Personal Loan (Education), you must:
1. Be a Nigerian citizen.
2. Be a student enrolled in a full-time undergraduate or graduate program at an accredited institution.
3. Have a good credit history.
You can check your credit score for free on nairaCompare!
What documents do I need to apply for Zenith Bank Personal Loan (Education)?
To apply for a Zenith Bank Personal Loan (Education), you will need to provide the following documents:
1. A valid government-issued ID.
2. Proof of enrolment in an accredited institution.
3. Proof of income.
4. A recent bank statement.
What is the maximum amount I can borrow?
The maximum amount you can borrow depends on your creditworthiness and the purpose of the loan. However, the maximum amount is typically N5 million.
What are the interest rates and repayment terms?
The monthly interest rate is 0.6%, and the repayment terms are between 3 and 9 months.
What are the fees associated with Zenith Bank Personal Loan?
There is a processing fee of N10,000 for the Zenith Bank Personal Loan (Education).
What are the benefits of a Zenith Bank Personal Loan (Education)?
The benefits of a Zenith Bank Personal Loan (Education) include:
1. The ability to pay for your education without having to rely on scholarships or grants.
2. The ability to spread out the cost of your education over a longer period of time.
3. The ability to get a loan with a competitive interest rate.
How long does it take for money to be disbursed after my loan is approved?
Once you have submitted your application, Zenith Bank will review your application and make a decision within 24 hours. If the bank approves your application, you will receive the funds within 48 hours.
What is the USSD Code to take out a loan from Zenith Bank?
The code used to get loans from Zenith Bank is *966*00#.
Additional details about the Zenith Bank Personal Loan (Education)
● There are no prepayment penalties.
● The loan can be used to pay for tuition, fees, books, and other educational expenses.
How to Apply for Zenith Bank Personal Loan on nairaCompare
1. Click ‘Zenith Bank Personal Loan (Education)’.
2. Read through the information on the product page to get more details about the product.
3. Click on ‘Apply’ to begin the application process.
4. Fill in your personal details and provide all the necessary documents.
5. Submit your application form for review and processing.
6. After successful review of your application, you will receive an email notification confirming your application.
If the bank approves your application, you will receive the money in your bank account within 48 hours.
Visit nairaCompare to know more about the Zenith Bank Personal Loan (Education) and other education loans available.
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