Nigerians who wish to receive finances from their local banks to implement some projects, business ideas into life can get acquainted with Jaiz Bank loan requirements. This financial organization has a working capital it can ‘borrow’ you to make your dreams come true.
We should note that Jaiz bank loan is not exactly ‘loan’ in the full meaning of this word.
Jaiz Bank Plc is a company registered in Nigeria in 2003. Its headquarters are located in Abuja, the capital of the country. The organization is a private, non-interest one, and operates under Islamic banking rules.
Loan at Jaiz Bank
Usually, loan means the procedure of lending money from a bank (or a person) to another company, person. It is like a dept that you can receive from many Nigerian banks, however, Jais Bank does not offer loan to its clients because of its ‘interest’ nature.
The system applied by this particular Nigerian bank is called ‘Islamic banking’ and this is like a real partnership between an individual or company that has an account in this bank and a bank itself. Such financial support (most clients refer to as loan) is available for various projects. For example, you can get the money from your bank to build a house, purchase goods etc. and you will have to share in profit based on the signed agreement.
Both entrepreneurs and the bank have to share the same risks and profits (or losses). So while you cannot get Jaiz Bank loan, you can still receive finances if you need them and the bank agrees to provide them to you.
Requirements for getting financial help at Jaiz Bank
As you have understood, Jaiz Bank Plc does not give a loan to Nigerians even if they are clients of this financial organization. Instead, this bank can finance your needs (purchase what you ask for and sell it to you via installments) if you meet these requirements:
You are a bank client
You have a corporate account in Jaiz Bank
Or you have a salary account in this bank
Your account is at least 3-6 months old
Requirements for opening a salary or corporate current account are as follows:
One photo (same size as for passport)
Filled out the form for opening a new account in Jaiz Bank
Your passport, ID card, driver’s license or another document that identifies you
Your worker’s ID
A letter from the firm or organization where you are employed
Your current bill (rent, phone, water etc.) within the previous 3 months
You can find more information by visiting Jaiz Bank Plc website http://jaizbankplc.com/ or calling its official phones that are available on the site. Users who already have an active account with Jaiz Bank and who wish to get a loan (called facilities in this financial organization) can visit their local branch and request such facilities.
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