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8 Top Banks With Quality Internet Banking Services In Nigeria

Ossi Samuel



quality internet banking services

8 Top Banks With Quality Internet Banking Services In Nigeria

Advances have been made in technology and this has affected almost every aspect of human endeavor. There have substantial discoveries in the field of banking and almost everything there has been digitized. The trend now is internet banking or mobile banking as some others call it. The joy is that some banks provide quality internet banking services and not services full of shit. That sounds amazing.

You do want to make transactions easily and without much ado. You can make transactions from the comfort of your home or wherever you are without going to the bank to explain anything. This is fantastic and it saves energy and time and it is very convenient. All the commercial banks in Nigeria now have access to internet banking albeit at varying levels of sophistication.

The internet banking and mobile banking services have varying degrees; it could be ATM transfers, mobile phone transfers with codes, mobile phone transfers with the banks’ apps, operation of the domiciliary account and other services.

Quality internet banking services have helped us to a great extent and have made banking more interesting. Imagine the plight of Nigerians who had to stay in banks for hours waiting to complete their transactions.

I remember one ugly incident where an uncle of mine who was made to stay in a bank for close to five hours in Aba and was made to experience the ugly event of bank robbery and if not for the intervention of God, he would have been a victim.

Experiences like this abound but they have been reduced to a minimal point by the introduction of quality internet banking services.

Related: 7 jobs you can do from home in Nigeria

This aspect of banking has become sensitive and important and this has necessitated stiff competition amongst the banks in Nigeria. However, there are banks which are clearly left behind while others are leading the rest as far as internet banking is concerned.

We should note that this article is not looking at the overall performances of these banks but on their performance in quality internet banking services as well as mobile banking. Here is our 8 top banks gotten from the conclusion of private research.

Also read: The essence of network marketing in Nigeria

 Banks With Quality Internet Banking In Nigeria


  1. Heritage Bank:

    quality internet banking services

This bank is ranked number one in internet banking in Nigeria. It is leading the rest of the banks in this sector. One of the features that distinguish it from the rest is that its mobile app is user-friendly and by extension, the easiest and most effective and efficient app to use.

It offers both internet services for personal and corporate uses. Through its services, customers can view their latest account information, manage multiple accounts, transfer funds across any bank, pay bills, buy airtime, SMS alerts and make a debit card and cheque-book requests.

You can check out their corporate services. Through these services, businesses can automatically pay employees’ salaries as well as contractors and suppliers from anywhere around the world. Heritage also has a huge focus on security, so you know your money is safe. It is simply wonderful. it uses the Heritage mobile app to satisfy its customers.

Let us make this clearer. Below are the key features that the mobile app has. They should blow your mind.• Check account balances.
View recent transaction history, including VISA pledges.
• View regular payments.
• Pay bills with BPAY.
• Perform transfers to existing payees.
• Log in with a password, PIN or fingerprint (supported devices with Android 6 (Marshmallow) or above required to use fingerprint).
• Find nearby Branches and Heritage ATMs.
• Find Heritage Network ATMs, which include Westpac, St.George, BankSA, and Bank of Melbourne ATMs.
• Integrated feedback function

2. GTBank

quality internet banking services

GTBank is a consistent performer, though its app can be a bit clunky at times. With GTBank you can check your balance, purchase airtime and domestic and international flight tickets, pay bills and transfer money. GTBank also has its Mobile Money feature which allows customers to withdraw cash from GTBank ATMs without a card.

You can also pay for purchases with your E-Wallet at selected places, though this feature can be unreliable. The revamped GTBank Mobile App, lets you carry your bank with you wherever you go. The App allows you to perform transactions and manage your bank account(s) from your mobile device. It is secure and very simple to use.

The GTBank Mobile App allows you:
View the balances on your bank account(s).
• Manage your account and review your transaction history.
• Initiate transfers to own account(s), GTBank accounts and also to other bank accounts.
• Purchase Airtime and Data bundles for all networks.
• Pay Bills                                                                                                                                                                            •Hotlist card and manage your debit/credit card
• Request for account statement
• Change your email address, phone number and other details
• Confirm and manage your cheques.
• Receive In-App messages on new features, quick tips, and promotional offers.
• Verify your transaction securely either by using a self-selected PIN, a hardware token (obtained from any of our branches) or a 737 token (obtained by dialing *737*7#)
• Link your profile to a device with the option to use PIN or Token to complete your transactions.
• Other profiles will be able to use the mobile app on your device successfully with Token authentication only.
• Device linking can be done with a secure code sent via SMS or generate a code from the hardware soft token (obtained by dialing *737*7#)

Related: Major loan givers in Nigeria

3. Zenith Bank

quality internet banking services

Zenith Bank is also right up there with Heritage Bank when it comes to internet banking. Zenith puts a lot of energy into its app, which means plenty of upgrades and new features. Similar to Heritage Bank, Zenith offers real-time account balances and transaction information, you can make transfers to other banks and you can pay bills too.

With Zenith app, you can make bulk payments to employees and third parties. The bank has also included a new feature which allows customers to track their spending and savings.

Their redesigned app puts all the services you need at your fingertips, enabling you to do all the following:
• Account Balance Enquiry

• View all your accounts (Current, Savings, Fixed Deposit, Domiciliary and Card accounts)
• Money Transfers
• Between your accounts
• To any Zenith account
• To accounts in other banks
• Bills payments
• Cheques:
• Stop cheques
• Cheque book requests
• Cheque confirmation
• Cards
• Deactivate cards
• Activate cards
• Manage your account
o Change Password
o Change Mobile PIN
o Change Authentication methods
o Add and delete beneficiaries
• Recurring Payments/Standing Order
• Schedule transfers, Airtime purchases, and Bill Payments.
• Airtime Purchase
• Travel and leisure
• Pay for flights and make hotel bookings
• Zenith Near me: Locate Zenith Bank branches and ATMs

4. Diamond Bank

quality internet banking services

Diamond Bank has one of the most comprehensive lists of internet banking features among the top Nigerian banks. It includes all the regular features you would expect, plus extra features like touch ID for iOS devices, you can switch debit cards on or off, buy movie tickets, top up your Konga Wallet and even personalize your app with a selfie. Here is a breakdown of the features in the mobile app.

This bank was recently acquired by access bank which means it will soon stop existing as a separate entity. However, the app still works and all the features built into it by Diamond bank are still in play. Below are the features. They are why we ranking this bank as one of the banks with quality internet banking services.
Search, book and Pay for International and Local flights
• Events and Movie Tickets Purchase (Movie preview also available)
• Funds Transfer within and outside Diamond Bank
• Airtime Top-up and Bill payments
• Switch on/off Debit cards
• Credit card repayments
• Diamond Money Transfer
• Account statement request
• Blackberry BIS Subscription
• Cheque services (Stop or confirm cheque and New cheque request)
• Maintain/Manage beneficiaries for Bills Payment and Funds Transfer
• Konga Wallet Top-up

  1. Access Bank

This bank just got bigger. It has acquired Diamond bank as we talked about before. It would have made sense if we merged them but their mobile apps are still different. Access Bank rounds out the top five with a very quality internet banking services.

Access Bank has an easy to use app and offers two services, Mobile Banking Classic and Premium. Classic features detailed balance and transaction history, ability to make payments across any bank, purchase prepaid electricity and locate the nearest ATMs and branches to you. You can also get personalized offers for upgrades and limit increases. One of the best features of the Premium services is that it allows you to carry out transactions in higher volumes, up to N2 million daily.

Access bank’s Mobile Banking app gives you real-time access to your accounts in Access Bank. All account holders of Access Bank can subscribe to this service. Subscription is at no cost.

Below are some of the services you can enjoy from this mobile banking application:
Transfers to accounts in Access Bank
• Transfers to accounts in other banks in Nigeria
• Bill Payments
• Cable TV
• Airtime
• Power, etc.
• Request for Cheque books
• Confirm cheques
• Cancel / Stop cheques,
• Locate Access Bank branches and ATMs
and much more.

6. First Bank of Nigeria

quality internet banking services
Founded in the year 1894, The bank has been a national symbol for many years operating with dedication and a sense of customer service delivery and a such is number 3 on our list of top banks in Nigeria.  Dedicated to meet customer needs and satisfaction the First Bank of Nigeria has positioned itself as a major player in the Nigeria banking industry.
With a world ranking of 427th out of the first 1000 banks in the world. it has wonderful internet services. This accounts for its large customer base.
Features of FirstMobile include;
– Account overview
– Funds transfer
– Bill payments
– Card management

7. Fidelity Bank Nigeria

quality internet banking services

Established in the year1988, the Fidelity Bank of Nigeria has assets of around ₦1.043 trillion (US$6.4 billion) as of March 31, 2014, and customer deposits of over ₦752.2 billion. Fidelity Bank has grown to stand the test of time while still maintaining its commitment to delivering quality and professional financial services to its customers.

The upgraded Fidelity Online Banking App lets you stay in control of your finances. Manage your transactions, accounts, and cards securely and easily anywhere. The App allows you to perform transactions and manage your bank account(s) from your mobile device. It is secure and very simple to use.
the app enables you to perform the following functions:
• Transfer to accounts in any Bank in Nigeria
• Transfer to your other accounts in exactly one click, no token required
• Biometric/Fingerprint Authentication for easier login
• View all your accounts (Current, Savings, Fixed Deposit, Domiciliary and Card accounts)
• Personalize your profile, change your picture as desired with lovely selfies
• Maintain/Manage beneficiaries for Funds Transfer, Bills Payment, and Airtime purchases
• Receive In-App messages on new features, quick tips, and promotional offers.
• Top up your mobile phone or that of your family, friends and other loved ones
• Pay your bills, such as DSTV, GoTV, PHCN, mobile post-paid bills, SWIFT, Smile and more.
• Perform your Fidelity Credit Card repayments
• Generate account statement
• Search, book and pay for international and local flights
• More self-service
• Locate nearest Bank branches or ATM service points

8. Ecobank Nigeria

quality internet banking services
Established in the year 1986, Ecobank is a commercial bank. It is a subsidiary of Ecobank Transnational Inc., a leading pan-African banking group with more than 1,150 branches scattered all over Africa. The outlet for their mobile internet banking is the Ecobank mobile app.
The app provides you with an easy channel to manage your account and conduct financial transactions in a simple and secure manner. This means it is available wherever you are with your mobile device. The app also gives you access to the new Ecobank Xpress Account.
It is one app available for all 33 countries where Ecobank operates.

Ecobank Mobile App Features include
 Balance Inquiry and Mini-Statement Display
 Send Money to 33 African Countries instantly
 Transfer Funds to other Local Banks within an Ecobank Operating Market
 Account Statement Request
 Block Card / Cheque Request
 Airtime TopUp for Self / Other
 Pay Billers & Merchants
 Locate nearest Ecobank Branch / ATM
 Check Forex Rates among others


Your bank goes a long way in determining the nature of your financial transactions. Choose wisely.



Ossi Samuel is a mafian thinker, an avid reader and writer, and political analyst. Am a humanitarian and fun loving person. I love Tech by the way and will always have your time if you have any ideas. I can be reached on Facebook

Banks & Banking

Fixed Deposit Vs. Treasury Bill In Nigeria: What Is The Difference?




Many Nigerians find it hard to differentiate between fixed deposit and treasury bill in Nigeria If you are one of them, then worry no more because in this post I discuss the main difference between fixed deposit and treasury bills in Nigeria.

First, What is a Fixed Deposit (FD)?

A fixed deposit usually abbreviated “FD” is a type of investment account that pays a fixed rate of interest to investors over and until a given date. While the fixed deposit runs, the investor would not be allowed to withdraw his or her funds.

Because of the higher rate of interest when compared with savings account, many people tend to put their monies in fixed deposits. Besides this, fixed deposits provide other advantages like tax benefits, safe investment, flexibility, and liquidity. All these intrigue many investors to prefer using a fixed deposit to an ordinary or augmented savings accounts.

But as we all know, whatever have advantages must have disadvantages and fixed deposit account is no exception. The most known risks that fixed deposit faces are inflation risk, default risk, reinvestment risk, liquidity risk, and interest risk.

Fixed Deposit Vs. Treasury Bill In Nigeria: What Is The Difference?, fixed deposit and treasury bill

Fixed Deposit Vs. Treasury Bill In Nigeria: What Is The Difference?

What is a Treasury Bill?

Treasury bills in Nigeria are debt instruments issued by The Central Bank of Nigeria (CBN) and are guaranteed by the government. The central bank of Nigeria (CBN) uses treasury bills as a way to control the money supply in the country’s economy.

These bills are sold bi-weekly by auctions conducted by the Central Bank of Nigeria, and you can buy these bills from any official dealer or through banks’ Treasury bill applications. The Treasury bill is a safe form of investment that is fully backed by the Federal government of Nigeria.

Treasury bills have a lot of investment advantages and upper-hand. Few among them are:

  1. Treasury bills serve as good investment outlets,
  2. are non-taxable,
  3. they can be used as collateral, and
  4. can be converted to cash quickly.

Don’t get too engrossed, we’re talking about the difference between fixed deposit and treasury bill.

The Remarkable Differences Between Fixed Deposit And Treasury Bill In Nigeria

Below are some of the key differences.

  1. Fixed deposits are fixed for an allotted period and are sold daily by banks to their customers while treasury bills are sold bi-weekly.
  2. Fixed deposits are primarily sold and managed by small banks while treasury bills are managed only by the Central Bank of Nigeria although you can buy them through commercial banks in the country.
  3. In a fixed deposit, depositors invest their money with a bank and will be given interest at a given time. In Treasury Bills, an investor borrows money to the Central Bank of Nigeria (CBN) for an allotted period in exchange for interest.
  4. While fixed deposits are done for one month, six months, or a year, treasury bills are usually for a period of 91 days, 182 days, or a year.
  5. Fixed deposits are fully taxable while treasury bills are non-taxable; you only pay a bank fee for the rendered service.
  6. The interest gained in treasury bills is far higher than the one offered by banks in fixed deposits.
  7. Treasury bills allow more liquidity than fixed deposits because they are done for the short, semi-long and long term.
  8. Treasury bills are regarded as the safest and risk-free investments because the government can never run out of funds while fixed deposits are only secured as long as the bank is functioning.
  9. The Central Bank of Nigeria (CBN) always puts a limit to the number of treasury bills it will sell while there is no limit to the fixed deposits that are sold by banks.
  10. Treasury bills money are used by the Central Bank of Nigeria to control the supply of income in the economy while fixed deposits are used by banks for investments.
  11. Fixed deposits can be rolled over by banks as it is a way of saving and investing at the same time while treasury bills cannot be rolled over.
  12. The flexibility in fixed deposits is far more than the one in treasury bills. Because in fixed deposits, you can easily get your cash anytime you want it and you will get the interest you earned for that time, while in treasury bills if you have wanted to withdraw your money before the allotted time, you have to sell the rights of the treasury bills to another person or a bank.
  13. Treasury bills are accepted by all banks in Nigeria as collateral because they are considered risk-free while some banks do not accept fixed deposits as collateral because they do not consider the other banks as strong ones.


Both fixed deposit and treasury bill are good forms of investing. While fixed deposits allow you to withdraw your money at any time, treasure bills do not allow that, but they are considered safer because the government cannot go out of funds. While there is a high possibility of a bank going out of funds thereby dissolving your money in fixed deposits that is not the case with Treasury bills! So, if you are cautious of risks, then you should opt for treasury bills over fixed deposits.



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Banks & Banking

How to Start a Bank




In a vast and fast-growing county like Nigeria, we are faced with an ever-increasing population which has variegated financial needs. This creates the need for the establishment of more banks to meet these needs and/or which can solve the issues inherent in present-day banking activities. For some people, the issues relate to certain banking polices while for others it is trust issues. These drive their patronage to other banks. As a smart business investor, you should key into this situation, see it as an opportunity and start a bank in Nigeria as soon as possible.

The establishment of banks nationwide is something that cannot run out of significance because of the population of businesses and financial transactions. According to statistics, 43% of citizens living in Nigeria either operate an account or intend to do so. Different banks cater to different interests. Some of these interests may be on an individualist level or a corporate level.

Before I give you full details on how to start a bank, let me tell you the different categories of banks available today.

Categories Of Banks In Nigeria

Amidst the numerous banks scattered across the country, we can classify them into three distinct categories. These categories have all been permitted to carry out operations in Nigeria by the BOFIA (Banks and Other Financial Institution).

They include:

  1. Merchant banks,
  2. Commercial Banks, and,
  3. Specialized Banks, some of which includes non-interest Banks, mortgage banks Microfinance Banks and Development Banks.

All the categories mentioned are licensed to operate under the guidelines of the Central Bank of Nigeria (CBN). They may be owned privately or by the government.

Steps to Start a Bank

Steps to Start a Bank in Nigeria

Gain Sufficient Knowledge Of The Financial Service Sector

Unlike other sectors, the financial sector is quite a complex aspect to deal with. You need to gain relevant knowledge of money and what it takes to run a system as complex as that. By doing so, you arrive at a higher level of financial knowledge to help you satisfy your customers and meet their demands.

There are a lot of rules guiding the operation of the banking sector. You need to arm yourself with these relevant information before you set out to start a bank. What am I saying here? I am saying that you need to be well-vested in the running of a bank. This you can get by studying Banking and Finance at a Tertiary Institution in Nigeria or Overseas, especially a University.

Obtain the Appropriate Banking Experience

To be able to operate and handle a bank, you need as much experience as you can get. It is not as simple as you can have in coffee shops, supermarkets, or even schools. You need a wide range of encounters in and out of the system to build your survival rate in this sector.

You need to make comparisons with other banks and understand how they are being run. As you would notice, there are some sensitive details you won’t get until you get hands-on experience or have someone share with you what exactly operating a bank entails.

This is why you won’t find bank owners who haven’t served in the system. As they grew in ranks and experience, they were able to set up theirs.

To help you build a solid and adequate knowledge-base, you need to have passed through series of educational trainings and certifications. This alone doesn’t guarantee that you are well-equipped to handle the pressure from the provision financial and non-financial services in a bank. You would also need managerial and business skills to plow your way to success.

Decide On The Type Of Bank You Want To Operate

Earlier, I established that there are different types of banks that are established in the country. You need to know which one of them that you would love to open. The different bank types have their unique requirements and demands. The level of preparation and procedures for establishment and operation of each of them is also not the same. You need to know what category you are ready to embark on.

Conduct Thorough Feasibility Study Based On Your Category

Having the desire to establish something doesn’t automatically mean it would turn out fine. The major reason why a lot of businesses fail is that there are no accompanying researches and studies done to know the areas of strength. Every business comes as a solution to a pitfall or limitation of another.

To make your bank successful in customer satisfaction, you need to understand what financial service(s) customers complain of in other banks and how you can solve this challenge in your bank. This means most of your findings would revolve around the customers.

Raise The Necessary Capital and Partners

Since you’ll be in charge of people’s funds and resources, you need to be able to convince accreditation bodies that irrespective of whether there are flops in the amount of capital generated, you can still disburse what the customers have entrusted into your hands.

Your customers are looking forward to having their money multiply in their accounts. It is now up to you to determine how this money will be used to generate more funds either through loans, investment and so on. This is why you are required to provide a huge amount of startup fines amounting to thousands and millions of dollars.

After successfully meeting up the target to begin with, you need to start scouting out for partners. Their duty is to invest in your bank and receive a percentage as return or profit. The partners who invest with you must have a well-defined financial means to avoid incrimination.

Obtain Your License From

Now, proceed to the Central Bank of Nigeria (CBN) for accreditation and issuing of licenses. While this process takes a stipulated time, you must ensure that you provide maximum security for the money entrusted into your hands by your customers. This will be well vetted by the licensing department of the CBN and any other regulating institution.

Get A Suitable Location For the Business

Properly siting a business is sine qua none to business success. Hence, from the early stages you must give proper consideration to where to intend to establish your bank. You might have a couple of addresses in mind to choose from. However, you must select a place that matches your business needs.

Whether the land is purchased or leased, you cannot afford to make mistakes with your choice of location. The location of your bank should be at a place that is easily accessible and safe. Customers will not patronize you if the bank is in a hidden area.

Engage in Aggressive Marketing and Advertisement

Banks experience so much competition from other banks who desire to have as many customers as possible. It is now left for you to draft out a means to reach out and inform others of the service you offer and how your services would benefit them the more compared to other banks.

This can be easily achieved through professional marketing and advertising campaigns. Your presentation of your bank services to the public will determine if they see you as one who thy can do business with or not.

Maximize tools like the Social media, Television, Radio, Newspapers and Publishing Houses to spread your information. You can also spread word on the streets and marketing centers through special campaigns that bring you closer to those who would need financial services.

Thank you for taking the time to go through this article on how to start a bank. I hope that you learn from this and use the information contained herein to your maximum advantage. Have a pleasant day!



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Banks & Banking

How To Get Business Loan in Nigeria




Today, I want to talk to you about something that is very important to business growth in Nigeria: how to get a business loan in Nigeria. A lot of businesses need a loan to improve their businesses because finance is a cardinal fuel for business progress. Loans may be gotten with or without interest, depending on who is giving the loan. Also, loans could come with or without collateral.

Collateral is something like a car, a house, a piece of land that you own, and/or any other tangible asset which is yours or which you have claims/rights to. Today in Nigeria there are many platforms, especially mobile apps, through which you can access loans without any collateral.

However, there are limitations to the use of such platforms the most typical of which is the limitation on the volume of loan sum which a business can get. For you to get a meaningful loan sum, you would have to contact a financial house like a bank, private loan givers, and non-bank corporate entities which provide high-volume loan facilities.

Business Loan in Nigeria

A business owner applying for Business loan in Nigeria

Typically, the 3 ways to get a business loan in Nigeria are:

  1. Getting a loan from relatives, friends or family
  2. Getting a loan from microfinance banks in Nigeria and
  3. Getting a loan from commercial banks in Nigeria

Often, options 2 and 3 above are usually most people’s favorite. Based on the information at my disposal, I will throw some light on the third option and give you some insight into the criteria for getting a loan from 4 commercial banks in Nigeria today.

The beautiful thing about this is that these commercial banks actually give business loans to small businesses collateral-free (at least as of the time of writing this). Things might change in the future. So, do well to re-check the criteria before you apply for and obtain a loan from any of the commercial banks in Nigeria that I discuss below.

Also, it is advisable to visit the banks and check if you meet the criteria that they set for getting a loan to finance your business. For now, some banks which give business loans in Nigeria are Wema Bank, Heritage Bank, First Bank of Nigeria Plc., and Stanbic IBTC Bank.

Let us review how each of these banks and the business loans that they give:

Wema Bank

Wema bank through its collateral-free loan has created an atmosphere for business owners to think big, start small, and eventually become successful. The loan which Wema bank gives to businesses ranges from N100,000 to N1 million without any collateral.

However, to qualify for this offer, the borrower needs to operate a business account with Wema bank and have a record of a steady transaction of about six months in his/her corporate business account with the bank. This means that will give you a business loan ranging from 100,000 to 1 million if you have operated a business account with them for six months.

Kindly walk into any branch of Wema bank to get more information on this.

Heritage Bank

Heritage Bank seeks to harness the skill and entrepreneurial spirits among Nigerian youths by providing timely and cheap loans to assist entrepreneurs to implement their business ideas. The bank also has a special package for NYSC members.

Heritage Bank’s loan facility is aimed at helping people in Nigerian marketplaces and whoever needs access to business finance through short-term borrowing from the bank. Kindly visit them to get more information on this.

They have a loan facility for people who want to start up small businesses and need between fifty thousand and 400 thousand upwards. There are loan packages for operators of large scale businesses.

Please, visit the bank to get more information on this. Some of their loans are collateral free with a few stipulated conditions attached.

Business Loan in Nigeria

First Bank of Nigeria (FBN)

First Bank of Nigeria (FBN) offers bank loans that are easily accessible to entrepreneurs irrespective of the type of business insofar as it is not illegal business. To be qualified for this loan the only thing required of you is to undergo a psychometric test and pass it.

Thereafter, you will provide the bank with your business plan and financial projections. They need your business plan to see how viable your business is and your capacity to repay the loaned sum. If you can convince and assure them of your capacity to repay your loan, you will be given the loan to fund your business.

Standbic IBTC Bank

The majority of Standbic IBTC Bank loans are designed to assist Small and Medium Entreprises (SMEs) acquire business assets and other facilities. The criteria for getting a loan from Standbic IBTC Bank are not enormous. Also, the loans given by the bank to SMEs are collateral free. If you are a big business you might need to present collateral.

To get a loan for a small business from Standbic IBTC Bank, you have to provide the full names and capacities of those who constitute the management team of the business. Also, you must state the reason why you need the business loan.

You would also provide:

  1. your business financial statement including an income statement,
  2. balance sheet,
  3. cash flow statements,
  4. personal statements of assets and liabilities of all partners in that business
  5. members and directors 12-month cash flow forecasts or financial projection,
  6. the amount of your own equity contribution.

The list above is really exhaustive, a bit complex but I suggest that you visit Standbic IBTC Bank to get more information about this. Again, this is for interest-free loans. So, kindly visit the bank to find out more about other loan packages.


Just like I said when I started this discussion, the best place to get business loans in Nigeria to a finance business today is the banks. This is because banks have the capacity to offer large loan sums. However, you can also get loans from your friends, relatives, associates and family members to finance your business. If you wish to use the bank, you need to visit the banking halls to get more information on how to get loans.

Also, remember that there are various loan packages available for you to choose from. So, you would have to choose the one that best suits your business needs. Different banks operate differently and have different loan packages for different classes of businesses. Some banks business loans come with interest, others don’t. Any of these can be assessed in the form of revolving credit, installation payment, order contract finance, etc.

This article explained some banks in Nigeria that offer business loans for startups and established businesses, collateral-free. You can contact these banks to get a loan to support your business.

It is advisable to visit these banks and get detailed information on how to access their loans instead of relying for unverified information on third-party blogs and websites. The five banks in reviewed in this article are Wema bank, Heritage bank, Stanbic IBTC Bank, and First Bank of Nigeria Plc (FBN). So, if you need a business loan I would suggest that you visit the banks and get detailed information about how to access loans especially loans without collateral.

Have you heard of Sumobank? Do you know you can save and make good returns on your savings with Sumobank today? To learn how to get business loans and improve your savings, click here to visit Sumobank

Thank you and have a splendid day ahead.



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