IBILE Microfinance Bank Nigeria Ltd | Loan Products
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Loan Products

Our loan products are:

IBILE Asset Finance

IBILE Asset Finance gives you the opportunity to own that asset you had always longed for. Be it a generator, mobile phone, laptops, washing machine, household furniture etc.

Talk to us today with your desired asset Pro Forma invoice, you will be glad you did.


Product features:

* Flexible repayment plan of weekly repayments
* Tenor 3- 12 months.
* Customer to submit proforma invoice.
* Direct payment by the bank in favour of the vendor
* The asset would be purchased in the name of the bank/ customer
* All financed assets are to be comprehensively insured.
* 20% equity contribution by customer
* For business assets, daily/weekly/monthly repayment must be accompanied with a compulsory minimum savings of 1% of loan amount.

Type of Asset to be financed:

  1. Generator set.
  2. Television set.
  3. Air conditioner.
  4. Cooker.
  5. Washing machine.
  6. Fridge, freezer.
  7. Other appliances.

IBILE Travel Loan

This product is designed to help you pay for your travel ticket with ease.


The maximum loan amount is N500, 000. 00. IBILE Travel Loan will help to take the financial burden of ticketing and travel fares off your shoulder.


This facility is accessible at a low interest rate of 3% monthly with an equity contribution of 20%. Management fee and Insurance fee of 1% each.


Product features:

* Account opened with full documentation
* Request letter from the customer.
* Duly filled loan form(s).
* Statement of account (3 months).
* Evidence of travel documents indicating destination.
* Letter of confirmation of appointment/employment.
* Instruction to place a standing order on account.
* Un-dated cheques. * Maximum Loan tenor is 6 months.
* For amount up to N200, 000 the customer will provide 1 guarantor, but above N200, 000 to maximum of N500, 000 the customer will provide the bank with two guarantors. Each guarantor must provide the bank with post-dated cheques.
* For private sector employees or business people, they will have to provide guarantors that works in the financial sector or MDAs.


If you are a salary earner and work with a well established organization outside the MDA sector then IBILE Salad is for you.


IBILE Salad enables you to have access to loan facilities which will be deducted from your monthly pay.


Product features:

* Statement of account (6 months).
* Letter of confirmation of appointment/employment.
* Direct debit will be placed on customer’s account.
* Tenor between 3-6 months.
* Management Fee 1%, Insurance Fee 1%.
* Execution of dud cheque indemnity form.


If you are a staff of any Lagos State Ministry, Department & Agency, then IBILE MDA Loan will grant you loan at a very attractive interest rate for your personal use.


With maximum loan repayments not more than a third of your monthly pay. 


Product features:

* Reduced interest rate of 3.25% monthly.
* Request letter from staff.
* Duly filled Individual loan form.
* Last 3 months statement of account.
* Letter of confirmation of appointment / employment
* Staff salary account does not have to be domiciled with IBILE MFB.
* Instruction to debit from source
* Work ID card.
* 2 recent passport photographs.
* Last 3 months payslip.

IBILE Easy Get Micro

IBILE Easy Get empowers both micro businesses and SMEs with viable businesses and capacity to borrow.


Product features:

* Loan amount below N500, 000
* Must run an account with the bank.
* 2 guarantors
* 2 months IBILE statement of account.
* Acceptable security/collateral.
* 3.5% monthly flat.
* 6 months repayment.
* 10% equity contribution.


This loan is for SMEs who wish to take their businesses to the next level. This loan is for Individuals and Corporate entities.


Product features:

* Loan amount above N500, 000.
* 2 months IBILE MFB account statement.
* 6 months other bank account statement.
* Adequate security.
* 3.5% interest rate.
* 6 months repayment plan.


IBILE LOYA is a savings account which gives additional reward for your investment in the bank while helping you make financial plans to meet future your needs.


Save for a minimum of 90 days without withdrawal and access loan twice the amount saved with no collateral required, higher interest on savings and lower interest rate on loans.


Product Features

* Customer saves at his/her own pace.
* Save for a minimum of 12 weeks without withdrawal & qualify for a loan.
* Account holder may apply for a loan up to a maximum of N500, 000.00 or twice the deposit in the account which must not exceed the maximum threshold of N500, 000.00
* LOYA savings may only be withdrawn after the loan has been paid back in full.
* Account will be used as collateral for loan.
* Interest will be forfeited if more than 3 withdrawals are made within a month.
* Loya loan facility is at 3% flat monthly interest rate.
* Initial opening balance of N2, 000.00
* Loya Savings interest rate is 7.5% per annum.


IBILE ROSCA is our savings and loan platform designed to help you plan and save more efficiently and build credit with ease.


This product is for business men and women who have immediate need for loans to do business.


How to be part of IBILE ROSCA

Open a savings account and save for a specific number of days (minimum of 10 days). This will qualify you to access triple the amount saved or an equivalent of 30 days daily contribution.

* Contribute a minimum of N1000.00 daily.
* Contribute for 10 days and qualify for a loan.
* Loan value = 30 days contribution.
* Continue daily contributions to payback loan.
* Customer to contribute for 21 days for repayment.
* Maximum daily contribution of N3, 000.00
* Daily contribution must be consistent. Bulk payment is not allowed.
* Maximum loan amount accessible is N90,000.00
* Customers to have a passbook for daily recording of contribution/repayments and savings.

IBILE Back to School (iBats)

If you are a parent or guardian and want to settle the payment of your child/ward school fees without any delays, our Back to School Loan is your best bet. This loan has a 90 day tenor.


Product features:

* Direct payment to the child’s school account
* Convenient weekly/monthly repayment plan range of 90days
* Original school fee invoice/ bill containing child details.
* Installmental repayment supported with undated cheques/direct debit instruction.
* Customer must be a salary earner or a seasoned professional
* No equity contribution required.
* Two guarantors with undated cheques plus work ID card.
* Maximum amount accessible is N500,000.00
* Interest Rate of 3.5% flat monthly
* Management fee 1%
* Insurance fee 1%

IBILE Get Together.

Are you a group, union, association etc and wish to have access to loan facilities? IBILE Get Together is for approved cooperative societies, associations and unions to meet personal financial obligations.


Product features:

* It must be duly registered & must have been in existence for a minimum of 1 year.
* Constitution/Bye-law empowering it to borrow as a legal entity.
* Members contribution for the last consecutive 6 months.
* Applicant must submit letter of domiciliation of contribution/dues and executed corporate guarantee.
* Applicant must submit copy of certificate of registration by relevant regulatory bodies.
* Tenor between 3 – 6 months.
* Competitive pricing and no hidden charges.
* Convenient installments/repayment.
* Interest rate is 3% monthly.
* Management fee 1%, Insurance fee 1%.

LPO Finance

Supplies financing for contractors to enable them take advantage of opportunities in Local Purchase Orders received from specific organisations.


Product features:

  1. Facility amount per transaction must not be more than 70% of cost of execution.
  2. Applicant’s employer must be on the EBL approved list of counter-parties.
  3. Tenor between 3-6 months.
  4. Competitive pricing and no hidden charges.
  5. Convenient repayment installments.
  6. payment shall be in full on or before expiry from proceeds of the LPO /Supply order.

Invoice Discounting Facility

The product is to provide self – liquidating advances to customers in a prompt, secure and profitable manner. It involves the provision of short term financing to Ibile MFB customers engaged in the supply of goods and services and execution of small to medium – scale contracts for Government, MDAs’ and reputable institutions.


Product features:

  1. The customer shall formally domicile proceeds of invoices to the Bank by instructing the paying company accordingly.
  2. Confirmation of invoice presented for discounting.
  3. Tenor between 3-6months
  4. Competitive pricing and no hidden charges
  5. Convenient repayment installments

Agricultural Finance

This loan can be accessed by arable/field crops farmers, fish farmers, livestock farmers, agricultural produce marketers, tree crop farmers. Ibile Microfinance is committed to serving the rural sector to improve the expansion of small and medium scale Agricultural enterprise.


Product features:

  1. Availability of moratorium
  2. Tenor between 3-6 months
  3. Competitive pricing and no hidden charges
  4. Convenient repayment installments