Level up your career. Secure funding with fast approval.
Refuge Finance for Professionals (REF-P) is a risk asset product for individual professionals. It is meant to create a strong bond between the clients and the bank through support and financing.
The following are the basic features of Finance for Professionals:
Minimum opening and operating balance of =N=100,000.00
The account is open to everyone in paid employment
The account can access facilities for land purchase, renovation and rent payment.
The facility is to be secured by an employer's guarantee, or in the absence of this, two guarantors from a commercial bank should secure it.
Life insurance on the obligor for the duration of the facility
Job loss insurance on the obligor for the tenor of the facility. The obligor will pay the premium
Maximum tenor of 6 months
Obligors in banks and other financial institutions must be of assistant manager grade and above.
Facility to be disbursed directly to the landlord in the case of rent payment
Maximum of =N=10,000,000.00
Facility to be disbursed directly to the landlord
Repayment tied only to salary
Repayments must be through cheques or irrevocable standing mandates
Maximum turnaround time of 24 hours, subject to submission of all necessary documents
Pre-Approval Requirements
The following are the Pre-Approval requirement of Finance for Professionals:
A signed application letter
A filled application form
Verification of request
Credit checks on two credit bureaus, i.e. XDS and CRC
Letter of introduction and guarantee from employer where required
Six months' bank statement of salary account
Proof of employment, i.e. offer letter, confirmation letter, etc.
Post-Approval Requirements
The following are the Post-Approval requirement of Finance for Professionals:
Duly accepted offer letter
Letter of guarantee from 2 eligible (eligibility will be measured by the amount earned with a loan request and other credibility variables) guarantors where required. Including employment identity cards, one passport photograph each
Updated cheques from the obligor for the tenor of the facility or verifiable evidence of irrevocable standing mandate
Payment of upfront fees
2 Undated cheques each from guarantors for the total amount and interest
Life and job loss insurance policy for the obligor
This product allows you to access funds for land purchases and renovations or even secure rent payments. Let us fuel your journey, whether you're starting a family, relocating, or pursuing exciting opportunities.
Uncompromising Convenience
Enjoy a maximum turnaround time of 24 hours upon submitting all necessary documents. Time is precious, and REF-P respects your busy schedule. We are committed to seeing your applications sorted at the snap of the finger.
Security You Can Trust
Your peace of mind is paramount. We offer employer guarantees or bank-approved guarantor options alongside life and job loss insurance for added protection. With this product, you can rest assured you are in safe hands.
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