The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending(NIRSAL) announces everybody can now check their loan approval with just their BVN. Today we will be showing you How To Check NIRSAL Loan With BVN to know the status of your loan maybe it’s approved. Also, we will discuss a few of their loan products and how to apply.
what is NIRSAL microfinance bank all about
NIRSAL is a licensed microfinance bank in Nigeria. It was licensed in 2019 by the central bank of Nigeria to carry out financial activities within its reach and also for adequate distribution of loans to Nigerian youths and SMEs through the CBN.
It has its head office in Abuja and over 115 branches all around the state.
Before we will be talking about its loan products let’s quickly talk about how to check the loan approval status with just your BVN.
Step By Step On How To Check NIRSAL Loan With BVN
NIRSAL makes it very easy to check your loan status online on their official website from your phone provided you have your Bank Verification Number (BVN) with you. It is worth knowing that before you can even think of checking the loan status or if it’s gotten approved or not you must have registered or applied for any of their loan products but if not on subsequent subheadings in this article I will be showing you how to apply to some available loan products they have.
Depending on the kind of loan you applied for there are two different links to check it with your BVN just follow the steps
Step 1: If you applied for household loans just visit their official website using this link https://covid19.nmfb.com.ng/HomeLoans if you apply for a SMEs loan or business loan click this link https://covid19.nmfb.com.ng/SmeLoan
Step 2: After you click the above link respectively depending on the type of loan you apply for you will be provided with a box ‘Please Enter your BVN’ to enter your BVN! Slot in your BVN
Step 3: After inputting your BVN then you need to click the ‘Validate BVN’ button!
If you registered for any of their loans your BVN will be validated and you will be able to check the status of your loan but if not it will bring BVN not exist.
Nirsal Microfinance Bank Loans
Now that we have already shown you How To Check NIRSAL Loan With BVN let us quickly state the NIRSAL 6 loan products available that you too can apply for in case you have not applied and its absolutely free
- The Anchor Borrowers’ Programme (ABP
- Nigeria Youth Investment Fund
- Concept of Targeted Credit Facility (TCF)
- Non-Interest Targeted Credit Facility [SME]
- Non-Interest Targeted Credit Facility [Household]
- Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS)
How To Apply For Nirsal MFB loan
It is very easy to apply for the NIRSAL loan and the whole procedure is segmented into three stages which are the request stage, the approval stage, and the payment stage
The Request Stage: Nirsal has one of the easiest application procedures because of its transparency. You just need to visit the website https://nmfb.com.ng/ , select the loan type you want to apply for, and follow the prompt.
The approval stage: This is the waiting stage in that you need to wait for your loan to be verified and examined by the NIRSAL MFB and then send to CBN for approval. This is the stage you will need to be using your BVN to be checking for your loan status which was explained in this article
The Payment Stage: Once BVN grants your loan. NIRSAL started disbursing the loan to the applicants
But we also discussed and emphasis on how to apply for a NIRSAL loan in this previous article we wrote about NIRSAL ‘Apply For Nirsal MFB Youth Investment Fund with CBN SMEs Loan‘ you can check it out too.
we have given you simple steps in this article on How To Check NIRSAL Loan With BVN and some other information about the Micro Finance Bank.