Addosser microfinance bank – Everything you need to know

Addosser microfinance bank – Everything you need to know
Addosser microfinance bank – Everything you need to know

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Addosser Microfinance Bank Limited is a leading microfinance bank in Nigeria that was founded in 2008. The bank is headquartered in Lagos, Nigeria, and has a network of branches across the country. Addosser Microfinance Bank offers a wide range of financial products and services to micro, small, and medium-sized enterprises (MSMEs) and individuals, including loans, savings accounts, and investment products.

The bank is regulated by the Central Bank of Nigeria (CBN) and is a member of the Microfinance Banks Association of Nigeria (MBAN). Addosser Microfinance Bank is committed to providing financial services to the underserved and marginalized segments of the population.

The bank’s management team is led by Mr. Bayo Fabiyi, who is the Managing Director. Mr. Fabiyi has over 20 years of experience in the banking industry.

Addosser Microfinance Bank has a strong track record of financial performance. In 2022, the bank reported a profit of NGN100 million.

The bank’s mission is to “provide financial services that enable people to achieve their financial goals.” Its vision is to be “the leading microfinance bank in Nigeria.”

What services does Addosser Microfinance bank offer?

Addosser Microfinance Bank offers a wide range of services to individuals and businesses, including:

  • Loans: Addosser Microfinance Bank offers a variety of loan products to meet the needs of different businesses and individuals. These loans can be used for a variety of purposes, such as business expansion, working capital, or personal needs.
  • Savings accounts: Addosser Microfinance Bank offers a variety of savings accounts that offer competitive interest rates and other benefits, such as ATM cards and mobile banking.
  • Microhealth insurance: Addosser Microfinance Bank offers microhealth insurance that provides affordable coverage for basic health needs.
  • MyDormot Agent: Addosser Microfinance Bank’s MyDormot Agent program allows individuals to become agents for the bank and offer a variety of financial services to their communities.

In addition to these services, Addosser Microfinance Bank also offers a number of other products and services, such as:

  • Business advisory services: Addosser Microfinance Bank offers business advisory services to help businesses grow and succeed.
  • Capacity building programs: Addosser Microfinance Bank offers capacity building programs to help individuals and businesses develop the skills they need to succeed.
  • Microfinance training: Addosser Microfinance Bank offers microfinance training to help individuals and businesses learn about microfinance and how to access microfinance services.

Addosser Microfinance Bank has a network of 21 branches in Lagos, Nigeria. The bank is committed to providing financial services to the underserved and marginalized, and it has a strong focus on women’s empowerment.

ALSO READ: How To Get A Loan With No Credit

Here are some of the key features of Addosser Microfinance Bank’s services:

  • Quick and easy application process: Addosser Microfinance Bank has a quick and easy application process for loans and savings accounts.
  • Competitive interest rates: Addosser Microfinance Bank offers competitive interest rates on loans and savings accounts.
  • Flexible repayment terms: Addosser Microfinance Bank offers flexible repayment terms on loans, so you can make payments that fit your budget.
  • Personalized service: Addosser Microfinance Bank’s staff is committed to providing personalized service to all of its customers.

If you are looking for financial services in Lagos, Nigeria, Addosser Microfinance Bank is a good option to consider. The bank offers a wide range of services at competitive rates, and its staff is committed to providing personalized service.

How can I apply for Addosser microfinance bank loan?

Here are the steps on how to apply for a loan from Addosser Microfinance Bank:

  1. Visit the Addosser Microfinance Bank website or any of their branches.
  2. Fill out the loan application form.
  3. Provide the required documents, such as:
    • Valid ID (e.g., driver’s license, national ID card, passport)
    • Proof of income (e.g., bank statement, payslip, tax return)
    • Proof of residence (e.g., utility bill, rent receipt)
  1. Meet with a loan officer to discuss your loan requirements.
  2. Once your application is approved, you will receive the loan proceeds.

Here are the documents you need to prepare for your loan application:

  • Valid ID: This could be your driver’s license, national ID card, or passport.
  • Proof of income: This could be your bank statement, payslip, or tax return.
  • Proof of residence: This could be your utility bill, rent receipt, or voter’s card.
  • Other documents: Addosser Microfinance Bank may require additional documents depending on your loan type and purpose.

The interest rate for Addosser Microfinance Bank loans typically ranges from 5% to 15%. The actual interest rate you will be charged will depend on your credit score and other factors.

The loan application process typically takes 1-2 weeks. However, it may take longer if you need to provide additional documents or if your application is reviewed by a credit committee.

In Conclusion:

Addosser Microfinance Bank offers a variety of loan types and flexible interest rates to accommodate different financial needs. Whether you are looking for a personal loan, business loan, or agricultural loan, they have options available to suit your specific requirements. It is important to carefully review the terms and conditions of the loan before proceeding with the application process. Additionally, it is advisable to maintain a good credit score and provide all necessary documents promptly to ensure a smooth and efficient loan approval process.

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