The Guardian
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Firm unveils N1.8b collateral-free loan at 2.5% interest rate




The strategy for improved credit creation and greater share of client base has hit top gear as Rosabon, a licensed financial services provider, unveiled plans to kick off the disbursement of N1.8 billion in personal loans.

The plan, scripted for existing and new clients, is made more attractive with an all-time low interest rate of 2.5 per cent, even as the nation’s benchmark interest rate is at 14 per cent.

Besides, the personal loans, which could be obtained without guarantor or collateral will see qualified individuals obtain as much as N3 million to pay back in six or eight months.

According to the company, to qualify, the individual must be more than twenty-one years of age and not more than 58 years. The person must also be in paid employment, have a salary, pension account or tax identification.

Once an individual is qualified by meeting the terms and conditions, loans can be accessed within 48 hours or less, following documentations.

The Managing Director/Chief Executive Officer of Rosabon Financial Services, Chukwuma Ochonogor said: “As a company, we have remained committed to driving access to financial services over the past two decades. This is no different from what we have been doing in respect to our commitment as one of Nigeria’s foremost financial service provider.

“More so, providing access to personal loans at this time has become even more imperative as a result of the current economic circumstance. It is no longer news that we are in a recession and that has serious implications for disposable incomes, especially for most households.

“So, this scheme is geared towards providing Nigerians the financial liquidity they need to meet their financial needs at very friendly and ridiculously low interest rates.”

Also speaking, the Head of Marketing, Chidimma Onyeokoro said: “At Rosabon, providing people’s financial needs remains our goal. We understand what the economy is at the moment, which means that there is limited cash circulating in the economy. But this does not mean that people should put their lives on hold.

“This is why we are offering people these loans at these low rates. So that people can still meet their financial targets and sustain their lifestyles despite what the economy says.

“Over the past twenty-three years, this is what Rosabon has remained committed to, driving access to finance, helping people meet their financial obligations without going bankrupt, thereby touching lives in a very sustainable manner.”

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1 Comment
  • obos

    Guardian news please confirm if the 2.5% is p.a or flat monthly. Usually such funds are given at a flat rate, meaning instead of paying 2.5% the customer ends up paying 30%, if the fund is held for 12 months. I believe this clarification is necessary for readers of this story.