IBILE Microfinance Bank Nigeria Ltd | Frequently Asked Questions
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Frequently Asked Questions

I want to start a business. Can Ibile Microfinance Bank assist me with a business loan?

Yes, However, If you wish to start or expand your business, please see either your Relationship Officer or any member of our Business Development team who will be pleased to offer advice on Ibile MFBs Small Business Banking products.

I am unable to come to your Head Office as I live out of town. Do you have direct phone lines?

Yes. If you have any enquiries regarding IbileMFB products and services please contact our Customer Service Officers at the head office or call any of the following numbers; 07004440444, 07004441444.

If you have any other enquiries regarding our services please contact us.

Do I need to come to the branch to apply for a loan as an existing customer?

No, your application can be made online via your page on our secure portal. After the application has been made, our relationship officer would pick up your documents from your office.

Do I have to be in paid employment to get your loans?

We have different loan packages to suit customers in paid employment and MSMEs.

When my application has been moved to the next level, how will I know if it has been approved.

You receive a confirmatory text telling you the status of your loan within 6 hours.

Can I roll over my savings into a Term Deposit Contract?

Your savings can definitely be rolled into a high yield Fixed Deposit for as long as 360 days. Please send an email to info@ibilemfb.com

What types of products and services are available at IBILE Microfinance Bank?

The following products and services are currently available in the bank; Quick Loan, Salary Advance, Asset Finance, Education Loan, Agric. Loan, Traders’ Finance, Group/Co-operative Loan, Savings Account, Kiddies Savings, Current Account, Fixed Deposit. For more information about various product features kindly call customer care on 07004440444.

Must I operate my account for six months in Ibile MFB before I get a loan?

To get a loan from Ibile MFB, you are required to have an operational account. However, you can still benefit from Ibile MFB loans even if you have not operated your account for up to six months.

What is Online banking?

Online banking is a real time solution that enables you to access your account 24 hours a day, 7 days a week.

Who can use our Online banking?

Ibile MFB account holders can access our Online-banking platform. Your Ibile MFB All-In-One account gives you access to transact and access information on our Online Banking Platform.

How much does it cost to get on the Online Banking Platform?

Our Online Banking Platform is free.

What are the types of transactions that can be performed on the Ibile MFB Online platform?

  • Balance enquiry
  • Inter-bank transfers
  • Account(s) statement generation
  • Bills payment via NIBBS

What infrastructure has to be in place?

All you need is a Personal Computer, Tablets, hand-held device or other device that is connected to the Internet.

How can I get the Online Banking service?

Please visit our secured website at https://ibilemfb.com to login.

What are the benefits associated with using our Online Banking?

You can conclude transactions from one end to the other online. There is also the convenience of self-service 24hours every day.

Where can funds be transferred?

Funds can be transferred to all local banks in Nigeria.

I am a customer and I am not registered on the Ibile MFB Online Banking, How do I register?

You can register on our website at https:/ibilemfb.com , click on online banking and choose subscribe to register.

What is the minimum amount I can fix with Ibile MFB?

The minimum amount can be as low as N20, 000.00.

What is the minimum tenor?

The minimum tenor is 30days.

If I have urgent cash needs, can I liquidate and get my funds?

Yes, however, there is a token charged on the accrued interest.

How can I get my interest?

Interest payments can be paid into your account of choice monthly, quarterly, annually or upon maturity.

Can I get my interest upfront?

You can get your interest upfront with funds placed for a minimum tenor of 30days.