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Fidelity Personal Loan (All You Need To Know)

Fidelity Bank is one of the fastest-rising banks in 2021. The bank has shown outstanding performance from great customer care to better and improved Services.

Today as a Fidelity Bank customer, you can now take a Fidelity Bank Personal Loan to fund your business, projects, pay fees, and many more.

The process of getting a loan from Fidelity bank is pretty straightforward and easy. But before we dive into how you can get a quick personal loan from fidelity bank without using your assets as collateral, let us look at some important things about fidelity bank and why they are regarded as one of the fastest-rising banks in Nigeria.

These days getting loans from financial institutions in Nigeria has become pretty easy, thanks to modern-day technologies like smartphones, computers, and machine learning technologies. Most of this technology, especially the BVN, allows lenders to evaluate your credit score almost instantly and evaluate your worthiness to get a quick loan. If you do not meet their criterion, you’ll be rejected almost instantly.

Fidelity Loan has become pretty easy now as you no longer need to visit the bank, sign some documents or even appear in the bank. All you need is a smartphone with an internet connection.

Also: Loan without Bvn

, Fidelity Personal Loan (All You Need To Know), Brillaweb

An Overview Of Fidelity Bank

Fidelity Bank was introduced into Nigeria in Year 1988. The bank started initially as a merchant bank and later became a commercial bank in 1991.
As time goes on Fidelity bank became a universal bank which was around 2001. This made the bank have a tremendous increase in their customer base which grew up to 5 Million. This sudden rise in their customer base was a result of their great customer service and services available in the bank. This made the bank start establishing various branches across the country even in the diaspora.

What Is Fidelity Bank Loan?

Fidelity Bank Loan is part of the service the fidelity bank offers to their customers. this service allows customers to take a payday loan from the bank and pay on or before the stipulated date. These loans being offered by the bank are Fidelity Easy asset leasing scheme, fidelity personal loan scheme, personal mortgage, instant salary advance scheme, fast loans, and fidelity credit cards.

What Are The Loan Services Being Offered By Fidelity Bank?

Fidelity offers different loan services as I have mentioned above. These loan services are unique depending on the kind of loan you’re looking for.
Below is the list of available loans in fidelity bank.
  • Fidelity Easy asset leasing scheme.
  • Fidelity personal loan scheme.
  • Personal mortgage.
  • An instant salary advance scheme.
  • Fast loans and fidelity credit cards.

Fidelity Easy Asset Leasing Scheme

The fidelity easy leasing scheme allows the customers of fidelity bank to get a loan for the acquisition of household appliances, brand new vehicles, generators, inverters, laptops, and much more.
Features of FEALS

  • Attractive rate with a flexible repayment plan
  • Minimum contribution as low as 20%
  • Flexible repayment plan
  • 48hours approval time
  • Choose from a variety of vendors/dealers and manufacturers nationwide

Fidelity Personal Loan Scheme

As a customer of Fidelity Bank, you can have access to this loan offer to cover some important financial obligations such as house rent, school fees, hospital bills, travel expenses, etc.
Features Of FPLS
  • Tenor is up to 60 months
  • The attractive interest rate with a flexible repayment plan
  • Provision for enhancement( top-up) after part liquidation
  • Provision for the loan buyback

Personal Mortgage

As the name implies so is the offer. This loan offer allows you to win your own property here in Nigeria by paying gradually for your dream house.

Features Of Personal Mortgage
  • Repayment up to 10years
  • 10% minimum equity contribution

Instant Salary Advance Scheme

The Fidelity Bank instant salary advance scheme allows you to take a loan as a salary earner. With this loan offer, you can take even half your salary and pay it back at the end of the month.
As individuals, sometimes were caught by some unforeseen circumstances even before our payday and this can make us restless. But as a customer of fidelity bank, you can get this loan to solve any problem you might encounter.

Features Of Instant  Salary Advance Scheme

  • Minimum required documentation
  • 12 hour approval time 

Fast Loans and Fidelity Credit Cards

We all need money at some point. When I say money I mean urgent money. This can be money to cover other important financial obligations such as sorting out emergencies, paying school fees, or business finance, amongst others.
This aspect of this loan is broad as fidelity bank offers other loans under the fast money loan. These services are
  • Payday Loan
  • Personal Loan
  • Point of transaction
  • Fidelity NYSC Loan
  • Fidelity Loan on Account Turnover
  • Migo

Payday Loan

The payday loan is a short-term loan that is designed to meet the immediate need of salary earners before their payday. In other to have access to this loan, your salary account must be domiciled with fidelity bank.
This loan amount is automatically disbursed within two minutes which you can access from any of the fidelity bank banking channels.

Eligibility Criterion

  • Must be a salary earner
  • Salary must be domiciled with Fidelity Bank Plc
  • Must have received a minimum of three (3) consecutive months’ salary with Fidelity Bank Plc
  • Must have a clean credit report

Feature and Terms Of The Payday Loan

  • Loan amount – up to 50% of your net salary income with Fidelity Bank Plc
  • Minimum loan amount – ₦10,000.00
  • Maximum loan amount – ₦1,000,000.00
  • Tenor – up to 30 days
  • Interest and fees – 4%. Interest shall accrue on the amount actually disbursed on a reducing balance basis and is payable at the agreed repayment period
  • Management fee – 1.00% flat
  • Credit Life Insurance – 0.25% flat

Personal Loan

Fidelity Bank personal loan is also designed for salary earners who have a salary account that is domiciled with fidelity bank. This loan is hassle-free and easily accessible.
Eligibility Criterion For Fidelity Personal Loan
  • Account must be active
  • Must be an existing customer
  • Must be a salary earner
  • Must have a clean credit report

Feature and Terms Of Fidelity Bank Personal Loan

  • Minimum loan amount – ₦50,000
  • Maximum loan amount – ₦5,000,000
  • Tenor – 12 months
  • Management fee – 1.0% chargeable upfront
  • Insurance fee – 1.0% chargeable upfront
  • Interest rate – 2.0% p.m / 26% p.a
  • Repayment type – Equal repayment monthly i.e., the equal amount repaid by customer.
  • Loan Top-up after three (3) successful periodic repayments.
  • A credit check is 1% of the loan amount subject to a maximum of ₦3,000
  • Full liquidation ability before the due date.
  • Loan recovery will be by debiting customers’ salary account monthly
  • Quick processing time
  • Instant disbursement into Fidelity Bank account

Point Of Transaction

This loan offer is designed to help you get quick access to funds when you have insufficient funds in your account during a point of a sales transaction. To avoid embarrassment you can request this loan to complete your transaction.
Eligibility Criterion For Fidelity Point Of Transaction Loan

  • The user must be a Fidelity Account holder
  • Account must have a minimum balance of above N500
  • Account must be in a credit balance
  • The customer must not have an outstanding POT loan
  • Total transaction value must not exceed the ledger balance

Feature and Terms Of Fidelity Bank Point Of Transaction Loan

  • Loan Amount – Up to N10,000
  • Tenor – 14 days

Fidelity NYSC Loan

As the name implies, the loan offer is designed for serving youth service corp members who are currently serving and in need of an urgent loan to pay their bills or expenses. The bank considered the fact that some corp members go broke even before their next allowance comes in, so they came up with the idea of making loans available to serving members.
Eligibility Criterion For Fidelity Bank NYSC Loan

  • The following conditions must be met before a corps member (customer) is eligible:
  • Must be a serving corps member
  • A credit check will be conducted
  • Must accept the T&Cs

Feature and Terms Of Fidelity Bank NYSC Loan

The Fidelity NYSC Loan consists of Personal and Payday loans:
Personal Loan up to ₦100,000;
  • Tenor – 10 months
  • Management Fee – 1% chargeable upfront
  • Insurance Fee – 1% chargeable upfront
  • Interest Rate – 2% p.m.
Payday Loan up to 50% of monthly allowance;
  • Tenor – 30 days
  • Interest and Fees – 1.95%.
  • Management Fee – 1.00% flat
  • Credit Life Insurance – 0.25% flat
  • Easy documentation
  • Quick processing time
  • Instant disbursement
  • Self-liquidation

Fidelity Loan On Account Turnover

You can only access this loan offer if you have an existing banking relationship with Fidelity bank. This loan offer is available through their digital banking channel.
Accessible via our digital channels – dial *770*08# for USSD and Fidelity Bank IVY on WhatsApp – 090-3000-0302 and Facebook.

Feature and Terms Of Fidelity Bank Loan On Account Turnover

  • Maximum loan amount – ₦100,000
  • Tenor – 30 days
  • Interest rate – 4.50% flat
  • Insurance fee – 0.25% flat
  • Loan extension for another 30 days (only once)
  • Restructuring fee – 0.5%
  • Instant loan/credit disbursed into Fidelity Bank account
  • No collateral required
  • No guarantor required
  • No hidden fees

Migo

A Migo loan is a loan offer that is disbursed to the customer without any documentation of any sort. As a customer, you can have access to this loan offer through their digital platform. It can be accessed via our digital banking channels: USSD – *770*08# & FastLoan App on the Google Play or Apple stores.

Feature and Terms Of Fidelity Bank Loan On Account Turnover

Interest: Determined by customer’s credit score

Fee: None

Tenor: Determined by customer’s credit score

Collateral: No

Eligibility

  • You must have a Fidelity Bank account
  • Your phone must be recharged 
  • Your phone must be registered with the bank.

How Can I Get A Fidelity Bank Loan?

Getting a loan from Fidelity bank is pretty easy and straightforward. You can get a fidelity bank loan by following these simple steps.
  • Ensure you have a mobile or smartphone with a cellular network then dial *770*08#
  • You can also send a text message to Fidelity Bank Ivy on Whatsapp. Their official WhatsApp number is 09030000302.
  • You can also request a loan by contacting fidelity bank through Facebook to get more information on how to go about your loan.

How To Apply For Fidelity Bank Loan

How To Contact Fidelity Customer Support

To contact Fidelity bank for any problem or inquiry, use the contact info below:
Address: 2, Kofo Abayomi Street, Victoria Island, Lagos, Nigeria 

Phone number: 0700 343 35489

website: www.fidelitybank.ng

Email: trueservice@fidelitybank.ng

Conclusion

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About the author

Jacob Efeni

Brillaweb is owned by Jacob Efeni, an internet marketer, Seo expert, writer, and affiliate marketer, under Brillaweb Connect. The blog is an information blog that gives you top-notch articles on Banking, Finance, Business, Mortgage, Insurance, Entrepreneurship, and Credit cards.

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