Asset & Equipment Finance - Moneyfield MFB

This product is for direct purchase of assets for (both income generating assets and household items) business owners and salary earners.

The Objective is to enable customers acquire assets/Equipment that will boost their income generating capacity or for personal use to improve their standard of living.

These Items include;
Household Item/Appliances, Motor Vehicles, Income Generating Equipment, etc.

Features

The tenure shall be between 30-365 days & insured if need be
Assets be bought in the name of the CITMFB
20-40% of asset worth to be contributed by lessor
Post Dated Cheques of Beneficiary
2 guarantor’s cheque.
Equipment/ Asset forms the Collateral
Interest rate at 4% per month and upfront of 3.5%

Eligibility

Any salaried, self-employed or professional Public and Private companies, Government sector employees including Public Sector is eligible for a Asset/Equipment Finance.

Maximum age of applicant at loan maturity: 60 years
Minimum Net Monthly Income: ₦20,000
Applicant should have the bank specified credit score.