Diamond Bank Loan Interest Rate and Requirements

Diamond bank

As part of the Access Bank Salary Advance Scheme, the PayDay loan was designed to offers instant credit to workers and individuals whose salaries are collected via the REMITA electronic payment gateway.

PayDay Loan is an immediate wage advance program open to those consumers that have their Diamond Bank payroll accounts registered with the bank. This service is simple, easy and does not include any type of documentation, collateral or guarantee.

diamond access bank

The Diamond Bank Loan provides you with funding for business, education, rent, and it also gives you money to handle financial challenges in your personal & family life.

As a part of the merger between Diamond Bank and Access Bank, the instant credit facility can now also be enjoyed by salary account holders who are Diamond bank customers.

This article provides you with insights on the Diamond Bank loan. We will also look inside the requirements and available loan offers of the bank. Keep reading!

Diamond Bank Loan Products

One of the best ways to get loans is from commercial banks. Diamond Bank is a multinational commercial bank that has branch offices in Nigeria and other countries of the world. Here are some of the diamond bank loans offers which you should know.

Business Loan

If you need a loan to start a fresh business venture or to expand an existing business enterprise, you get consider going to Diamond bank to get a loan.

Diamond bank has varieties of loans, they can help you to determine the best loan product for your business. The types of loan include the following:

  • Lines of credit.
  • Commercial Mortgages.
  • Installment Loans.
  • Construction/Development Loans.
  • Letter of Credit.
  • Small Business Administration (SBA) Loans.
  • Commercial Real Estate.

Auto Loan

If you have plans to change your car, Diamond bank will provide you with money for that. It is open for salary/income earners, corporate organizations and SMEs with an equity contribution of 10% of the invoice value. The loan tenor is up to 48 months.

Whether you are buying a new or used car, you will get low fixed rates car loans from Diamond Bank to help you make your purchase.

Requirements

  • A filled and completed vehicle lease application form.
  • Pro forma invoice from any of the Bank’s approved vendors.
  • Credit Checks.
  • Blank transfer of ownership Form.

Mortgage/Home Loans

This package makes it easy for anyone aspiring to buy and own a home. One of the biggest decisions you would make at a point in your life is getting a home to settle. You can get finance from Diamond bank to purchase a home or to expand or renovate your home.

The loan is divided into 3 categories namely:

  • Fixed-Rate Loans.
  • Adjustable-Rate Loans.
  • Construction Loans.

It is available to businessmen, entrepreneurs and salary earners with properties in Port Harcourt, Lagos, and Abuja. The loan has a minimum of 30% equity contribution for a period of up to 10 years tenor. Also, there will be no incurred charges on loan pre-payments made ahead of scheduled repayment dates.

Requirements

  • A filled and completed Retail Lending Application Form.
  • A valid means of Identification (identification documents include an international passport, driver’s license or national ID card).
  • Proof of address.
  • Employment letter.
  • Confirmation Letter or/and last Promotion Letter.
  • Staff ID Card.
  • Certificate of Registration (for business owners).
  • Valuation Report.
  • A copy of the registered title document in the seller’s name.
  • Tax clearance certificate.
  • Other KYC documents.

Asset Lease

It costs a fortune to get certain home and household appliances. Diamond bank allows you to get the household items you want in your home flexibly and conveniently.

Education Loan

Parents can get money to pay the school/tuition fees of your children from Diamond bank. The education loan covers students in primary, secondary undergraduate, post-graduate and professional level of study.

PayDay Loan

This loan is a quick and instant loan for all Access and Diamond bank customers (salary and non-salary earners inclusive. It allows you to borrow money from Diamond bank at low-interest rates.

Furthermore, the loan application can be done online without making visits to the bank. Also, collaterals and documentation are not needed to get the Payday loan.

You can apply for the loan on their internet/mobile banking app, QuickBucks app and USSD code (90111#). The loan has a maximum tenor of thirty-one (31) days.

Salary Advance Loan

The Diamond bank salary advance loan offers you up to 50% of your net monthly salary for a maximum duration of three months.

Moreover, it provides quick funds for salary earners, staff of companies and employees. Collateral and documentation are not required to get this loan. The minimum loan amount is N100,000.

Requirements

  • Applicants must own an active Salary account with Diamond Bank.
  • Completed Retail Lending Application Form.
  • Employment letter.
  • Confirmation Letter and/or last Promotion Letter.
  • Staff ID Card.
  • A valid means of Identification (identification documents include an international passport, driver’s license or national ID card).
  • Proof of address.
  • Other KYC documents

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