Does Mintyn bank give loan

Mintyn Bank is an online bank in Nigeria that offers various banking services to its customers.

One of its most frequently asked questions is whether the bank gives loans.

In this article, we will explore the answer to that question and provide more information about Mintyn Bank.

Firstly, it is essential to know that Mintyn Bank does give loans to its customers. Being an online bank, it makes the loan application process much more convenient, with most of the processes being digital.

Mintyn Bank offers three types of loans to its customers, namely personal loans, payday loans, and SME loans.

Personal Loans

Mintyn Bank’s personal loans are flexible and can be used for various purposes, such as paying bills, funding vacations, or even buying household appliances.

The personal loan amounts range from ₦50,000 to ₦5,000,000, and repayment can be made over a period of 3-12 months.

To qualify for a Mintyn Bank personal loan, customers must meet the following requirements:

– Must be between 21-60 years old.
– Must have a verifiable source of income.
– Must have a valid bank account.

After meeting these requirements, customers can apply for a personal loan on the Mintyn Bank website or mobile app by filling out an application form.

The loan is then disbursed within a few working days if approved.

Payday Loans

Mintyn Bank also offers payday loans, which are short-term loans that can help customers meet their urgent financial needs before their next paycheck arrives.

Payday loans can be obtained within 24 hours of application, and the loan amount ranges from ₦2,000 to ₦50,000.

To qualify for a Mintyn Bank payday loan, customers must meet the following requirements:

– Must be between 18-40 years old.
– Must have a verifiable source of income.
– Must have a valid bank account.

Customers can apply for a payday loan on the Mintyn Bank website or mobile app by filling out an application form.

Once the loan is approved, it is disbursed within a few hours.

SME Loans

Mintyn Bank also offers SME loans to small and medium-sized enterprises in Nigeria. These loans can be used for various purposes, such as business expansion, inventory purchase, or even working capital.

SME loans can range from ₦100,000 to ₦5,000,000, and the repayment period varies from 1-12 months.

To qualify for a Mintyn Bank SME loan, customers must meet the following requirements:

– Must have a registered business with the Corporate Affairs Commission (CAC).

– Must have a valid means of identification.

– Must have a business account with any bank in Nigeria.

After meeting these requirements, customers can apply for a Mintyn Bank SME loan on the Mintyn Bank website or mobile app by filling out an application form.

The loan is then disbursed within a few working days if approved.

Mintyn Bank Loan Requirements

Aside from the specific loan requirements mentioned above, there are general requirements that customers must meet to apply for a loan at Mintyn Bank.

These requirements include:

• Must be a Nigerian citizen or permanent resident.

• Must have a valid means of identification (National Identity Card, International Passport, or Driver’s License).

• Must have a functional bank account in Nigeria.

Mintyn Bank Interest Rates and Fees

Mintyn Bank’s interest rates and fees vary depending on the loan type, loan amount, and repayment period.

Interest rates for personal loans range from 15% to 20% per annum, while payday loans have an interest rate of 30% per annum.

SME loans have an interest rate of 22% per annum. In addition to interest rates, Mintyn Bank charges loan processing fees, which range from 2% to 5% of the loan amount.