Are you a Fidelity Bank customer and you want to borrow money from Fidelity Bank? Here’s a guide you can follow if you want to know how to loan money from Fidelity Bank.
When it comes to loaning money from commercial banks, Fidelity Bank comes out to be one of the few commercial banks you can take a loan from. While there’s no direct method to take a loan from their website or mobile app, there’s an alternative method
In this banking & finance article you’re reading on NaijaKnowHow, you’ll learn how you can borrow money from Fidelity Bank as a registered Fidelity bank customer.
How to Borrow Money From Fidelity Bank
Fidelity Bank offers fast loans if you’re a customer and you bank with them. Getting the right loan that’ll meet your demands won’t be much of an issue.
List of The Available Fidelity Bank Loans
1. Payday Loan
Requirement & Eligibility
- No documentation required
- Salary Account must be in Fidelity bank and be active for at least three (3) months.
- The customer must have a good credit balance.
- A good credit rating
Terms & Features of Payday Loan
- Tenor – up to 30 days
- Charge – 4.5% flat (Upfront)
- Minimum loan amount of N1,000.00
- Up to 50% of net monthly salary subject to a maximum of N500,000.00
- Pre-liquidation is allowed without penalty
- Domiciliation of salary & GSI
2. Migo Loan
Fidelity Bank Migo Loan is a type of loan service that’ll allow customers to get instant loans directly to their bank accounts without the need for any documents. This type of loan can be accessed quickly but one might not get a huge loan amount. If you want to get quick cash from Fidelity Bank, Migo Loan offers a way to borrow money from Fidelity Bank without delays.
Requirement & Eligibility
- The customer must have a Fidelity Bank account
- The customer’s phone must be registered with the bank.
- The phone must be recharged
Terms & Features
- Interest – Determined by the customer’s credit score
- Fee – None
- Tenor – Determined by customer’s credit score
- No Collateral
Steps to Borrow Money From Fidelity Bank
One of the easiest ways to access loans from Fidelity bank is by using their communication channels. You can either use their USSD code or chat with Ivy. To borrow money from Fidelity Bank while chatting with them on WhatsApp, follow the steps below. Note: You must your registered Fidelity Bank phone number.
Step 1: Go to Fidelity Bank loan page by copying this link (https://www.fidelitybank.ng/personal-banking) into your web browser. Then, navigate to the type of loan you want to apply for, you can ignore the loan request form under it.
Step 2: Locate the Channels section, then click on Ivy. By clicking on Ivy, you’ll be redirected to continue on WhatsApp. Once you’re in Ivy’s inbox, you can send a random message till you get Ivy’s prompt message.
Step 3: Select Loan Facility from the list of options in the Prompt Message. Ivy will check if your phone number is associated with a Fidelity Bank Account. Once it shows you have an account with Fidelity Bank.
Step 4: Select the type of loan you want, choose your repayment period and click on done. If approved, the loan will be disbursed into your Fidelity Bank account.
Conclusion
Taking a loan from Fidelity Bank is that easy. There’s no long procedure or need to follow different measures. Fidelity Bank loans are fast once you pass their approval stage. As a Fidelity Bank customer, this is how to borrow money from Fidelity Bank.
