Kada Loan – How to apply for a loan from Kada bank
In today’s fast-paced business environment, securing quick loans has become easier, thanks to microfinance banks like Kada Microfinance Bank in Kaduna, Nigeria. If you’re a business owner or a salary earner in Kaduna looking for financial support, Kada Microfinance Bank could be your solution. In this guide, we’ll walk you through the offerings, application process, and requirements to make your loan journey smooth and efficient.
An Overview of Kada Microfinance Bank
Kada Microfinance Bank, licensed by the Central Bank of Nigeria in 2008, stands as a reputable financial institution serving the needs of business owners and salary earners in Kaduna.
Loan Products at Kada Microfinance Bank
- Microloans:
- Targeted at students, business owners, and petty traders.
- Loan application form and collateral are required.
- Competitive 5% interest rate with a maximum loan tenure of 6 months.
- Salary Advance:
- Exclusive for salary earners in reputable organizations.
- Maximum loan amount is 50% of the monthly salary.
- Quick repayment with a maximum tenor of 30 days.
- Group Loan:
- Designed for group borrowing, attracting a 4% borrowing fee.
- Ideal for those looking for collaborative financial solutions.
How to Apply for a Kada Loan
- Open an Account:
- Start by opening an account with Kada Microfinance Bank to demonstrate commitment.
- Fund Your Account:
- Actively service your account by regularly funding and withdrawing from it.
- Loan Application:
- Apply for the loan with a valid and genuine reason for borrowing.
- Provide Necessary Documents:
- Speed up your application by submitting required documents, including collateral details.
Requirements for Obtaining a Kada Loan
To secure a loan from Kada bank, you’ll need to present the following documents:
- Letter of employment
- Valid identification (National Identity card, passport, etc.)
- Staff identity card
- Pay slip
- 6 months statement of account
- Two credible guarantors
- Utility bill
Kada Loan Interest Rate
Kada bank offers an interest rate ranging from 4% to 11%, depending on the loan amount and type of loan product selected.
Contact Information for Kada Microfinance Bank
- Address: 3, RIGACHIKUN POLY ROAD, KADUNA, Tudun Wada, Kaduna
- Phone Numbers: 08098909343, 08036884586
- Email Address: kadamfbank@yahoo.com
Final Thoughts
Kada Microfinance Bank emerges as a reliable financial partner for Kaduna residents seeking accessible loans. By becoming a customer through opening an account, you pave the way for smoother loan processing. While collateral and guarantors are necessary, Kada Microfinance Bank’s offerings present a valuable opportunity for those in need. Contact them today and unlock the financial support you require.