Our Products

 

MAINSTREET BANK MFB LIMITED – PRODUCTS.


S/N

NAMES

BENEFITS

TARGET

FEATURES

1

ENTERPRISES LOAN

    • Easy access with less stress.
  • Upon application, loan process

  and delivery shall not exceed
72hours

  • Personalized service 
  • Guaranteed repeat loans.
  • Financial advisory services.

(1) Micro and small Business                        entrepreneurs.
(2) Nigerian citizens within the
age bracket of 18- 60 years.
(3) The customer must have been
in their current line of business
for at least 6months for group  based customers and 12 months for individual customers.
(4) They must also have been in their respective business locations for at least 6 months.

  • Overdraft facility with minimum tenor of 30 days.
  • The facility is revolving with daily repayment.
  • Repayment of the

      loan shall be weekly, or                            monthly depending on
the customer’s business. For group-based customers,
The same preference shall apply
to all members in  the group.

  • Interest rate is 5% per month
  • Minimum equity contribution of 20%

2

BUSINESS EQUIP LOAN

  • Interest rate is 5% per month.
  • Assets are of good quality & purchased from major vendor.
  • All risk insurance on the leased item.
  • Micro Artisans.
  • traders, fashion designers, hairdressers, vulcanizers, okada associations, local food vendors, taxi drivers associations, motor  mechanics,

 

  • Minimum equity contribution of 20% depending on the equipment.
  • Minimum tenor of 90 days and maximum tenor of 365 days.
  • The equipment must be solely for commercial purposes.
  • Interest rate is 5% per month

3

QUICK CASH (Emergency) Loan:

  • Access to emergency loan.
  • Competitive Interest rate.
  • Value added chain facility.
  • Competitive repayment plan

Customers include micro traders, fashion designers, hairdressers, butchers, fish mongers, stationery shops, local food vendors, petrol attendants, telephone operators, petty traders and other micro, small and medium enterprises.

  • Salary earners can benefit up to 30% of their monthly income
  • Existing loan customers who have assessed any loan from the bank at least three times can enjoy up to 200% of their existing savings balance with the bank.
  • Turn around time: 24hours Maximum.
  • Must not be a line (one off)
  • Interest rate is 5% per month

 

4

SAVE AND BORROW
 (ROSCA) LOAN

  • Freedom from working capital stress
  • Easy repayment
  • Attractive interest rate

 

Customers include micro traders, fashion designers, hairdressers, butchers, fish mongers, stationery shops, local food vendors, petrol attendants, telephone operators, petty traders and other micro, small and medium enterprises.

  • Establish a relationship with     Mainstreetbank MFB
  • Minimum loan of N30,000
  • Maximum loan of N150,000
  • Maximum tenor  21days
  • 33% savings
  • Business must be a daily income generating
  • Interest rate is 5% per month

 

5

SAVE AND BORROW
SPECIAL

  • Freedom from working capital stress
  • weekly lodgments, monthly repayment
  • Attractive interest rate

.

This product basically design for traders, fashion designers, hairdressers, butchers, fish mongers, stationery shops, local food vendors, petrol attendants, telephone operators, petty traders and other micro, small and medium enterprises.

  • Establish a relationship with     Mainstreetbank MFB
  • Minimum loan of N50,000
  • Maximum loan of N500,000

Maximum tenor  3 Months

  • Interest rate is 5% per month

6

MAIN EQUIP LOAN MONTHLY (SPECIAL)

(1)Interest rate is 22% Minimum annum.
(2)Consumer loan for Household equipment, car and house improvement

  • Organized and registered groups
  • Civil servants and registered unions

 

  • Minimum tenor of 180 days and maximum tenor of 2 years
  • Beneficiaries must be members introduced and guaranteed by their associations
  • Domiciliation of union account
  • Evidence of standing order of repayment deductions with State government
  • Evidence of member being in active service

7

MAIN BOI/BOP LOAN

  • Freedom from working capital stress
  • weekly repayment
  • Attractive interest rate

.

This product is supported by Dangote Fund basically design for micro, small and medium scale entrepreneurs in business value chain with local content.

  • Establish a long time relationship with     Mainstreetbank MFB
  • Loan series of at least 10.
  • Minimum loan of N50,000
  • Maximum loan of N500,000

Maximum tenor  6 Months

  • Interest rate is 1% per month

8

MAIN SAVE PLUS

  • Easy, convenient, and flexible option, daily, weekly or monthly.
  • Access to credit facilities using the account as collateral.
  • Cash pick up services

The target market include all categories of micro clients such as; business owners, artisans, farmers, children, infants, students,

  • Competitive Interest
  • Minimum opening amount of N500
  • Financial advisory services.
  • The account will attract interest if withdrawal do Not exceed three times in a month.

 

9

MAIN FIX = GOLD

  • Free SMS Banking.
  •  Easy Access to loan facilities.

Middle & high income earner, private individuals, students, retirees, market men and women.

  • Minimum amount of N50,000.00
  • Minimum tenor of 90 days.

 

 

 

8

MAIN TARGET

  • School bills
  • House or shop rental

       renewal

  • Ceremonies: weddings,

      child naming,
Graduation, etc.

  • Festivals
    • Competitive interest rate of 7%.
    • Support of up to 50% of the account balance as loan.
  • Free advisory services.
  • Flexibility of deposit frequency and amounts.
  • Can be used as collateral

 

  • Business owners,

       artisans, farmers,
students & others

  • Minimum opening balance of N500.00.
  • Minimum account balance of N250.00.

9

GREATER TOMORROW

  • Attractive interest rate
  • The customer can use the account as loan collateral.
  • Easy safe towards graduation

 

Mostly artisans and businessmen/traders with up to two (2) apprentices.

  • Customer determines the deposit amount, frequency and maturity date.
  • Customer can collect loan up to 70% of the account balance after ten months, while the regular deposit continues. The account balance in such case will stand as loan collateral
  • It also gives the apprentice assurance of easy start in his future entrepreneurial career.

 

10

“ WE - WE” (Association/club account)

  • Attractive/competitive interest rate.
  • Access to Group Loan to members.
  • Access to flexible banking services.

 

  • Religious organization duly registered.
  • Social & business association
  • Flexibility in terms of deposit and withdrawal frequency,
  • Competitive interest rate
  • Savings or current account
  • Minimum number of members is 3

 

11

CURRENT ACCOUNT

  • Negotiable COT
  • Access to loan facilities based on the operation of the account.
  • It eliminates the risk of carrying cash.

 

  • Individuals
  • Corporate organization
  • Association/clubs
  • Minimum opening balance of

Individual = N5,000.00
Corporate = N10,000.00

  • Cheques, dividend warrant and other financial instruments can be lodge in the account.

 

 

This product would enable micro and small business entrepreneurs with existing businesses to satisfy such needs as stock piling goods and increase product offerings, etc.