Zenith bank loan (requirements, how to get, etc.)

by Abdulrazaq

Are you in need of money to solve some problems, pay your bills, support or start a new business? Or are a salary earner and looking for the way to get salary loan from Zenith bank? Here, we will explain to you the eligibilities and how to step by step get loan from Zenith bank at the comfort of your home using mobile phone.

Zenith bank is the best commercial bank in Nigeria among other banks that give loan to their customers for starting up business, buy new house, car, pay their school fee, pay their bills, etc. without collateral all carried out at their comfort zone. If you are interested to know how to get personal loan from Zenith bank, then continue reading as that is the topic we will discuss with you in this article today.

How do you feel if you get a personal loan from Zenith bank without severally providing the documents or visiting their branch with your collateral? Fantastic, right? Okay, let us show you h0w to get quick loan from Zenith bank using USSD code, mobile application. Zenith bank has a loan for Small and Medium Enterprise (SME), for their customer’s personal use, for their creative minded customers like those who want to become a builder, comedian, musician, etc. while having no financial will. Zenith bank can help you get a loan without collateral!

Now, here is the explanation on how to get Zenith bank loan including the eligibilities and everything involved.

How to get loan from Zenith bank without collateral

Zenith bank personal loan is a type of loan that you can apply for without collateral and provision of documents or even visiting their branch. This type of loan is available to all Zenith bank customers who have started banking with Zenith bank in a minimum of three months to solve any of their need such as school fee payment, paying their debts, marriage, etc.

How to get Zenith bank loan? Let’s start listing and explaining all types of Zenith bank loans to you here one by one now.

1. MSME loan

Zenith bank MSME loan is a type of loan sponsored by Zenith bank to help their customers who run a Small and Medium Enterprise with financial aid they would need. If you are interested to get Zenith bank MSME loan, they can give you financial assistance ranging from 500 thousand Naira to 5 million Naira depending on your budget while 9% interest per annum (PA).

This type of Zenith bank loan attracts the fee of 0.5% 1% flat subject to a minimum of N10,000.


Zenith bank MSME loan is designed to finance small and medium enterprises in Nigeria.

  • Must have business account with Zenith bank of not less than 6 months old.
  • Business must be categorized in any of the approved sectors.
  • Your past transaction history must be friendly and positive, that is, cool credit alert.
  • Your business must have at least one 1 of their electronic connection channels
  • Must have and provide BVN.
  • You must personally fill the form yourself and accept the terms and conditions.
How to apply?

Interested and qualified to apply? Kindly dial *966# via your Zenith bank alert SIM and follow the promts or visit any of their nearest branch for setting up everything for you.

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2. Creative Industry Financing Initiative (CIFI)

The Central Bank of Nigeria (CBN) in collaboration with the Bankers’ Committee including Zenith bank as part of their efforts to boost job creation in Nigeria, particularly among the youth, has developed a Creative Industry Financing Initiative (CIFI) fund. That is to say that with this type of Zenith bank loan, if you are a creative minded youth, then you can apply without providing a collateral.


You can get this type of loan from Zenith bank to support or start your creative business ideas or activities such as opening a fashion design store, computer training, music production theatre, etc. You can get as high as 10 million loan from them for up to ten or more years paying 9% per annum as an interest.

Eligible activities/businesses
  1. Fashion
  2. Information Technology
  3. Movie Production
  4. Movie Distribution
  5. Music
  6. Software Engineering student Loan
  1. Accepted Offer Letter from CBN.
  2. Your business Plan.
  3. Board Resolution (if corporate).
  4. Government issued ID card.
  5. BVN.
  6. Must be a Nigerian.
  7. You must be 18 years plus.
How to apply?

You can apply at the comfort of your home using your Zenith bank alert SIM card by dialing *966# and follow the prompts or visit any nearest Zenith bank branch for more information.

3. Overdraft loan

Zenith bank offers overdraft loan service to its customers. Overdraft is a type of loan which allows the borrower/obligor to draw a certain amount in excess of the credit balance in their current account within a specified tenor usually not exceeding Twelve months.

  • Must be eighteen year old plus.
  • Your past transaction history must be positive.
  • You must be a customer of Zenith bank for at least in a minimum of three months.
  • Must have a BVN and any one of national ID card, voter’s card, driving license, etc.

4. Retail loans for schemes

Service Offering NameVehicle Financing for New Cars
Loan TypeVehicle Loan
PurposeEnable customers acquire new vehicles in a financially convenient manner
Tenor3 – 5 Years
Eligibility Salaried Income Persons, SMEs & Corporates
Car Dealer Offerings·         Free vehicle registration·         Free car delivery within Nigeria·         Free servicing (first 3 services)·         5 years warranty·         Co-advertisement of the partnership·         Car insurance with Zenith General Insurance
Maximum Repayment Amount 33.3% of monthly turnover
Repayment CycleMonthly
Interest18% P.A
Equity Contribution10% (Minimum) Salaried Income Persons·         Letter of Introduction from Employer, Employee Status Enquiry/Employer confirmation and undertaking·         Recent 6-months payslip/salary bank account SMEs & Corporates·         Company Profile, Recent Management/audited accounts, Bank statements·         Personal Guarantee of a Director supported by notarized statement of net worth·         Board Resolution (For Corporates only)


5. Education loan

Education is the bedrock of social and economic development and our education loan scheme is designed to provide short term funding to enable parents/guardians pay tuition fees for their children/wards.

  • Minimum Facility amount N100,000
  • Maximum Facility amount N5,000,000
  • School fees will be paid directly to child/ward’s school.
  • Maximum tenor of 3 months (Junior School) , Maximum tenor of 9 months (Tertiary Institution)
  • Completed Application Form
  • Parent/guardian must have salary account domiciled with the bank.
  • Child/ward must must have an account with the bank.
  • Invoice of school /tuition fees

6. Z-Woman business package

Z-Woman is the Zenith bank single digit loan product for female owned businesses for all sectors primarily geared toward growing our SME sub-sector and diversifying our customer base. 

  • Female owned businesses with shareholding of 50% or any majority shareholding provided it’s owned by a woman.
  • Acceptance of the BVN covenant.
  • Personal guarantee of customer Insurance, Positive Credit Checks, and Company Profile.

Business Expansion (Working Capital Requirements, Purchase of Raw Materials, Raw Materials & Infrastructure upgrade)

Business sector required

Beauty/Style, Confectionery, Fitness, Agriculture & Others.

Rate9% p.a
Maximum Loan AmountN10M
Loan tenor12 to 24 months
Management Fee1% flat
USSD code t0 apply*966#
How to Apply

To apply for Z-Woman Business Package, simply visit the nearest Zenith Bank branch.


For more enquiries, kindly send an email to agentbanking@zenithbank.com.

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7. Timeless loans

Service Offering NameTimeless Pension Advance PlusTimeless Pension Advance
Loan TypePension AdvancePension Advance
PurposeTo provide Pension Advance to Timeless PensionersTo provide Pension Advance to Timeless Pensioners
Tenor12 – 18 months30 – 90 days
Maximum Loan Amount50% of Annual Pension Receivable sum100% of monthly pension value
Repayment AmountMaximum 33% of monthly pension valueMinimum 30% of monthly pension value
Repayment CycleMonthlyMonthly
Interest16% P.A16% P.A
EligibilityFor Timeless Account HoldersFor Timeless Account Holders
 Pensioners who receive consistent monthly pension with the bankPensioners who receive consistent monthly pension with the bank
 Pensioners who receive monthly pension of N500,000 & AboveAge range 55 – 70 years
 Age range 55 – 70 years 
RequirementsCredit Life Insurance policy issued by Prudential Zenith Life InsuranceLetter of Introduction from pension companyCustomer consent to debit account for Insurance policy premiumPAMAccepted Offer Letter and completed facility sheetPAMAccepted Offer Letter and completed facility sheetLetter of Introduction from pension company 
Management Fee1% of loan value1% of loan value or maximum of N10,000

8. Receivable discounting/invoice discounting

Receivable Discounting/Invoice Discounting is a loan that allows the borrower/obligor to obtain monetary value (usually discounted) against confirmed invoices for jobs already executed.

9. LPO Finance

LPO Finance is a loan made available to borrowing customers to finance the supply of materials or execution of specific supply contracts to reputable organizations.

10. Import finance facility

Import Finance Facility is a type of credit availed specifically for the importation of raw materials, finished goods and equipment. This can be made available as Unconfirmed LC, Confirmed LC, Deferred Payment LC, Standby LC and Irrevocable.

11. Export finance facility

Export Finance Facility is a credit availed specifically for the export of agricultural produce or other commodities. This credit can either be availed at the pre-shipment or post-shipment stage of the transaction.

12. Term loan

Term Loan is a credit (short term, medium or long term) availed to finance specific capital projects expansion or lines of business for a specified tenor. Repayment can be bullet, balloon or instalmental.

13. Lease

Lease is specifically finance or sale and lease back financing to support the acquisition of asset or equipment.

14. Bonds & Guarantee

Bonds and Guarantee: These create contingent exposure for the bank. They take the form of instruments issued on behalf of customers to support contracts for supply, construction and performance.


If you know that this article has helped you know all types of loans which Zenith bank offers and how to get any one of your choice depending on your budget, please share it with your friends and don’t forget to comment with any question that borders you via the comment section below.

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