Apply for Nirsal/CBN Non-interest loan 2022/2023

Nirsal/CBN Non-interest loan for Nigerians this year.The banks are offering loan to farmers, students and other needy Nigerians for investment in agriculture, education, housing and other productive activities.

A CBN loan facility for non-interest has been authorized and launched by the Central Bank of Nigeria (CBN) and Microfinance Bank NIRSAL.

These loans are typically offered to households, AGSMEIS(Agric-Business,Small and Medium Enterprises Investment Scheme), and MSMEs(Micro, Small and Medium Enterprises)

This article will guide you in knowing the categories of Non-interest loan and the criteria as well as the steps to follow to access the loan.

Categories of Non-interest loan:

  1. NON-INTEREST TARGETED CREDIT FACILITY for households and SMEs (TCF-NI).Non-Interest Targeted Credit Facility, or TCF for short, is a stimulus program for Nigerian households and MSMEs (Micro, Small and Medium Enterprises) that have been adversely affected by the COVID-19 pandemic. These grants typically come in the form of interest-free packages meant to cover a business’s major assets while it is still in the startup phase. Additionally, this loan will assist families that are still trying to make ends meet.TCF has a N2,500,000.00 lending cap with a 3 year term and a 6 month moratorium. Banks grant their clients a moratorium, or policy period, during which they may put off making payments.
  2. SMALL AND MEDIUM ENTERPRISE INVESTMENT SCHEME, NON-INTEREST AGRI-BUSINESS (AGSMEIS-NI).Non-Interest Agri-Business, Small and Medium Enterprise Investment Scheme, or AGSMEIS-NI, is a financial programme run by the federal government. Through CBN, the federal government provides this cash, which is aimed at advancing Nigerian agricultural enterprises. By doing so, the economy will grow and more employment will be made available to the unemployed.Their non-floral items can be used as an alternative to AGSMEIS. Generally speaking, these products include features like Murabaha and Ijarah and are based on the Islamic rules for financial transactions. This product is especially made to support business expansion and provide financing for working capital, equipment, and raw supplies.Depending on the nature of the transaction, AGSMEIS-N has a financing maximum of N10,000,000.00 and a tenor of 7 years

How to Apply for an Interest-Free Loan from CBN

•Visit the NIRSAL microfinance website here to get started.

•Click “Apply for Non-Interest Facility” after that. You will have two choices after tapping it. “NON-INTEREST TCF” and “NON INTEREST AGSMEIS” The “NON-INTEREST TCF” tab can be selected.

•There are two choices when you select the NON-INTEREST TCF tab: household facility and SME facility.

•Select the choice that best suits your needs.

•After that, you can fully begin the registration process.If you are returning to your previous application.

•Choose “New Applicant” if this is your first time applying.

•Proceed to enter your BVN. Some of your information will be generated automatically by this. With your other information, fill in the blank fields that are required.You ought to get a notice congratulating you on submitting a successful application if it is.

•You can choose the SME facility if your company is one that is registered with CAC. You only need the CAC registration details and your company’s TIN number for this.

If you want to register with CAC,click here

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Hi,am Khadijah Sulaiman,and I write on tech.related issues like News, training Opportunities, Social media and more.I love to share findings on tips, tricks and latest information about tech.to make life more meaningful and educative. Follow me on Facebook @habijtech and YouTube @habijTv

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