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How To Get Loan From Zenith Bank In Nigeria

Everyone needs money – to sort out personal issues, start a business, make a trip, etc. the list goes on. Having financial wants and needs isn’t a problem. It becomes a problem when you don’t have the finance to satisfy them.

Many people solve their financial problems by borrowing money. You can do this more formally – and legally – by collecting a bank loan.

Zenith Bank ranks among the most reliable banks in Nigeria. They’re not perfect, but they’re dependable in most situations, one of which is granting loans.

In this post, I’ll walk you through the process of how to get loans from Zenith bank in Nigeria.

Types of Zenith Bank Loans

You can request for different types of loans from Zenith bank. The type of loan you request for depends on your type of account, your transaction history, current bank balance, and others. In addition, each loan type has different requirements. Here’s a rundown of the different types of loans available:

  1. Z-woman business package (SME loans)
  2. MSME loans
  3. Retail loans for schemes
  4. Education loan
  5. Creative Industry Financing Initiative (CIFI)
  6. Overdraft
  7. Timeless loans
  8. Receivable discounting / invoice discounting
  9. LPO finance
  10. Import finance facility
  11. Export finance facility
  12. Term loan
  13. Lease
  14. Bonds & guarantee

All the above loan options are for corporate banking customers. Personal banking customers only have access to number 12 and 13 on the list. Those are, however, the simplest loans in terms of processing. Others typically involve heavy paperwork and documentation.

Requirements To Get Zenith Bank Loan

Before you proceed to request a loan from Zenith bank, it’s vital that you first know the requirements. As mentioned earlier, each loan type has different requirements. The focus here is on Term Loan and Lease.

Term Loan Requirements

Term loans could be short term, medium, or long term. To qualify for this loan, you must present a capital project. It’s usually granted to people who want to expand their businesses. Repayment is flexible. You can repay in installments, at the end of the loan period, or pay all at any time within the load period. As a result, term loans do have maturity dates.  

Lease Requirements

In contrast to term loans that are for business expansions, leases are loans for acquisition. Hence, if you want to purchase a valuable asset or equipment, you can apply for a Zenith bank lease. The bank will allow you access to the assets or equipment until the maturity date when you have to repay.

Here are requirements of some other loans you may be eligible to apply for as a corporate banking customer:


Overdrafts are a type of loan that lets you withdraw more than what’s in your bank account. For example, if you have an overdraft of N100,000, and your account balance is N200,000, you can withdraw up to N300,000 within the overdraft period. Typically, the overdraft period is 12 months, after which you must repay. It can also be shorter, like 4 or 6 months.

Education Loans

As you may have suggested, education loans are for education purposes. You can request for education loans as a parent or guardian to assist in paying your child’s or ward’s tuition fees.

The amount you can request depends on the academic level of your child or ward. It ranges from a minimum of N100,000 to a maximum of N5,000,000.

Similarly, the loan tenor differs as well – three months for junior schools and nine months for tertiary institutions.

MSME Loans

MSME loans are for medium and small businesses and enterprises in specific industries. The loans typically expire after 12 months, and you request a minimum of N500,000 and a maximum of N2,000,000. One of the main requirements of this loan is that all your business transactions must be done exclusively using Zenith bank channels.

Retail Loans

Retail loans are among the simplest loans for Zenith Bank’s corporate banking customers. It consists of salary advances, personal/consumer loans, asset acquisition, car loans, and mortgages. Each retail loan has its own individual features and requirements.

How To Request for Zenith Bank Loan

You can request for a Zenith bank loan by either going to the bank (the most common and best option) or using the mobile app.

1. Visiting the Bank

Visiting the bank is the best way to go about requesting a Zenith bank loan. Requesting a loan in-person ensures that you get all the necessary information that you should know. You can ask questions and get first-hand answers from the bank’s customer care.

When you arrive at the bank, walk to the customer care section and state your intention – that you want to request a loan. They’ll refer you to the appropriate staff members that handle loan applications. Most times, the customer care personnel performs the duty.

Typically, you’ll have to fill out, sign, and submit a form, or multiple forms. Then, the bank staff will fill you in on how and when you’ll get your loan, pending when your application gets approval.

2. Using Zenith Bank’s App

If you’d rather not visit the bank, you can request a loan using the Zenith Bank mobile app. You’ll find the option to request loans from in the “Product & Services” section. The loan options available to you will depend on your account. However, most are usually personal loans.

Bottom Line

Getting a loan from Zenith Bank in Nigeria isn’t complicated. If you have a good transaction history, especially in credit, you should be able to easily obtain loans that you qualify for.