How to apply for Nigeria consumer credit scheme loan
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The federal government, led by President Bola Tinubu, has launched close to 11 key initiatives aimed at stimulating economic growth, assisting small businesses, and developing the skills of Nigerian youth.
Among the initiatives launched by the president is the Nigeria Consumer Credit Scheme Loan. Tinubu’s mission is to enable access to consumer credit to all eligible Nigerians, starting with the consumer credit scheme and ultimately catalysing the entire industry.
The scheme will be rolled out rapidly, but in phases, and delivered via our several partner financial institutions. The portal to express interest in consumer credit is now open.
Step 1: Visit the CreditCorp Website
- Go to CreditCorp’s website.
- Click on the “Apply Now” button to begin your application.
Step 2: Select Your Loan Product
- Choose the loan product that best suits your needs from the available options:
- “I am an individual seeking access to consumer credit” – for personal loans.
- “I am a financial institution seeking capital or credit guarantees to expand consumer credit” – for institutional loans.
- Select the appropriate option based on your requirements.
- Click “Proceed” to continue.
Step 3: Provide Personal Information
- Enter your personal details:
- Full Name (First, Middle, Last)
- Phone Number
- Email Address
- Date of Birth
- Gender (Male or Female)
- State of Residence
- State of Origin
- Click “Proceed” to move to the next section.
Step 4: Answer Credit Need Questions
- Respond to the following questions regarding your credit needs:
- What is your most important need for credit today?
- How much money can you borrow today and pay back comfortably over 6 months?
- Have you ever borrowed money from a bank, microfinance institution, fintech, or loan app before? If yes, provide details:
- What is the highest amount of money you have ever borrowed?
- Enter your National Identification Number (NIN). You can obtain your NIN by dialing *346#.
- Click “Proceed” to continue.
Step 5: Provide Employment Details
- Primary Employment:
- What do you do for a living?
- For how many years have you been in your current employment?
- How much do you earn per month from your main employment? (Specify the minimum salary or income that enters your bank account monthly)
- In what bank do you receive this income? (This is where the credit will be disbursed if you qualify)
- What is your bank account number?
- Click “Proceed” to continue.
Step 6: Provide Secondary Employment Details
- Secondary Employment/Side Hustle:
- Do you have a secondary employment or side hustle? If yes, provide details:
- Years of experience
- Monthly earnings
- Bank where you receive your secondary income (if applicable)
- Do you have a secondary employment or side hustle? If yes, provide details:
- By submitting this application, you consent to a credit check and the use of your data for program needs.
- Click “Proceed” to continue.
Step 7: Face Capture (Optional)
- Optional Face Capture:
- Complete a quick face capture to finalise your registration. This step is optional but may help expedite your application.
- Once completed, your application will be submitted for review.
- Click “Proceed” to continue.
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