Based on research and not influenced
This is based on rigorous research, testing and not influenced by our earning potentials.

Requirements for Fidelity Bank Loans

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  • Post last modified:04.02.2023

Fidelity Bank loans are convenient financing solutions that you can apply for to finance any needs, emergencies, or dreams you have.

You can find loans to fund your daily purchases, and small business, pay fees and bills, acquire assets, and pay off a mortgage. In emergencies, you can access quick and short-term loans that help you out of any situation and allow you to pay back comfortably. 
 
This article lists the Fidelity Bank loans, requirements, and interest rates.

 

FIdelity Bank Loans

Below are the available Fidelity Bank loans with their requirements:

 


Fidelity Bank Payday Loans

Limit

₦500,000

Interest/m

4.5%

Tenor

30 days

When you need cash before your salary gets paid, you can get this loan. It helps salary earners of public and private organizations who have their salary accounts lodged with the bank to access this quick loan.

Using this loan, eligible candidates will be able to apply for up to 50% of their salary with a maximum of N500,000 and repay within 30 days at a flat rate of 4.5%. You can choose to do so when repaying before the tenor is up without any penalties.

 

Requirements for Fidelity Bank Payday Loan Direct

  • Good credit rating
  • Salary account domiciled with Fidelity Bank for at least 3 months

 

Fidelity Bank Payday Loan Direct Application Channels

You can apply for this Fidelity Bank loan through the following:

  • USSD code *770*08#
  • Chat with Ivy


Fidelity Bank Personal Loans

Limit

₦5 million

Interest/m

2%

Tenor

12 months

While similar to the Payday loan, this loan differs in certain ways that are more convenient to the recipients. Salary earners with salary accounts domiciled account in Fidelity Bank can apply for this loan. There is no need to state the reason for the loan during the application so you can use it to pay off bills, fees, and any other needs.

While paying off the loan, an interest rate of 2% is charged per month with a management fee of 1%.

The maximum amount available is 40% of the net annual salary or N5 million. Every repayment comprises the principal and interest rates which can be paid before the tenor expires at no penalty.

 

Requirements for Fidelity Bank Personal Loan

  • Good credit rating
  • Salary account domiciled with Fidelity Bank for at least 3 months

 

Fidelity Bank Personal Loan Application Channels

You can apply for this Fidelity Bank Loan through the following:

  • USSD code *770*08#
  • Chat with Ivy


Fidelity Bank Point of Transaction Loans

Limit

₦10,000

Interest/m

5-15%

Tenor

14 days

This loan is for you if you need a quick cash top-up while making purchases. To make sure you always have what you need, the Fidelity Bank loan has been crafted for a short-term supply of cash to complete payments. Such points include ATM, web, and PoS purchases.

You can receive up to N10,000 to repay in 14 days.

 

Requirements for Fidelity Bank Point of Transaction Loan

  • Good credit rating
  • Fidelity Bank account
  • Minimum balance of N500
  • Account must be in credit balance
  • The total transaction value must not exceed the ledger value

 

Fidelity Bank Point of Transaction Loan Application Channels

You can apply for this Fidelity Bank Loan through the following:

  • USSD code *770*08#
  • Chat with Ivy


Fidelity Bank
Fidelity Loan On Account Turnover

Limit

₦100,000

Interest/m

4.5%

Tenor

30 days

This Fidelity Bank loan caters to account holders who have existing relationships with the bank. Anyone without a salary account can take advantage of this loan and receive up to N100,000 with a 4.5% interest rate and a 30-day loan extension.

Once the loan application has been approved, it takes less than 24 hours to be disbursed into your account.

 

Requirements for Fidelity Bank Fidelity Loan On Account Turnover Loan

  • An existing account with the bank

 

Fidelity Bank Fidelity Loan On Account Turnover Loan Application Channels

You can apply for this Fidelity Bank Loan through the following:

  • USSD code *770*08#
  • Chat with Ivy


Fidelity NYSC Loan

Limit

₦100,000

Interest/m

2%

Tenor

10 months

Corps members have a loan option with Fidelity Bank that can be accessed for any personal reason. This instant loan is drafted to fit the youth service corps schedule with two options for the loan tenor.

Payday Loan type: When you apply for the loan type, you are availed N100,000 for a tenor of 10 months to repay. The monthly payments include the principal and the overall fee and interest of 4% with 2% per month as the interest rate and 1% each for management and insurance fees.

Personal Loan type: This Fidelity Bank loan gives corps members a maximum of N100,000 to be paid back in 30 days. The documentation process is easy and results in instant disbursement for approved applications. The fees and rates paid back include interest and fees of 1%, management fee of 1%, and credit life insurance fee of 0.25%

 

Requirements for Fidelity NYSC Loan

  • Applicant must be a serving corps member
  • Compulsory credit check
  • T&Cs apply

 

Fidelity Bank Fidelity NYSC Loan Application Channels

You can apply for this Fidelity Bank Loan through the following:

  • USSD code *770*08#
  • Chat with Ivy


Fidelity Migo Loan

Limit

Based on credit score

Interest/m

5-15%

Tenor

Based on credit score

This loan provides instant disbursement of a small amount into a customer’s account without any documentation or collateral required. The amount, tenor, and interest rate are all determined by the customer’s credit score and thus, vary per customer. While an interest rate applies, there are no fees attached to this loan.

 

Requirements for Fidelity Migo Loan

  • An existing account with the bank

 

Fidelity Bank Fidelity Migo Loan Application Channels

You can apply for this Fidelity Bank Loan through the following:

  • USSD code *770*08#
  • Chat with Ivy


Fidelity Easy Asset Leasing Scheme

Limit

Based on asset value

Interest/m

5-15%

Tenor

Based on asset value

This Fidelity Bank loan is crafted to provide you with financial assistance to acquire the assets you need in your home or office. This loan is available to individuals and businesses. With it, you can acquire assets such as generators, laptops, TVs, inverters, and more.

Fidelity bank has listed vendors with the best deals and products for you to pick from.

 

Requirements for Fidelity Easy Asset Leasing Scheme 

  • Domiciled salary account with the bank for individuals
  • Domiciled business account for businesses
  • A minimum contribution of 20%

 

Fidelity Bank Fidelity Easy Asset Leasing Scheme  Application Channels

You can apply for this Fidelity Bank Loan through the following:

  • Fidelity Bank branch


Fidelity Personal Loan Scheme

Limit

Based on credit score

Interest/m

5-15%

Tenor

60 months

With multiple needs occurring almost simultaneously, it can be difficult to find a specific loan type that suits all you want. With this Personal loan scheme, you can get one loan that you use to fund your personal needs. There are no requirements for stating the reason for the loan so you can use the funds to sort out fees, bills, and expenses.

The loan is available for service for up to 60 months, giving you ample time to repay. Once you maintain a consistent liquidation pace, you will be able to top up the loan to finance even more needs and projects.

 

Requirements for Fidelity Personal Loan Scheme  

  • An existing account with Fidelity Bank

 

Fidelity Bank Fidelity Personal Loan Scheme  Application Channels

You can apply for this Fidelity Bank Loan through the following:

  • Fidelity Bank branch


Fidelity Commercial Support Short-Term loan

Limit

₦20 million

Interest/m

5-15%

Tenor

6 months

This is a loan that helps Micro, Small, and Medium Scale businesses to meet their business goals for growth. This loan is targeted at businesses in the following cities:

Lagos, Abuja, Rivers, Edo, Enugu, Imo, Abia, Kwara, Kano, Bayelsa, Rivers, Niger. 

These businesses can get up to N20 million with 6 months to repay with a special discount available for women-owned businesses. 

 

Requirements for Commercial Support Short-Term Loan Scheme  

  • Completed letter of request for the loan

  • At least 3 months of banking relationship with fidelity or another bank
  • Business registration with CAC

 

Fidelity Bank Commercial Support Short-Term Loan Scheme  Application Channels

You can apply for this Fidelity Bank Loan through the following:

  • Fidelity Bank branch

Fidelity Trader Support Facility

Limit

₦20 million

Interest/m

5-15%

Tenor

12 months

The beneficiaries of this loan are traders with small and medium scaled businesses in the FESTAC area, Lagos State that deal in fast-moving consumer goods. 

Eligible applicants can get an overdraft, a term loan, or N40 million and N20 million respectively. 

Requirements for Trader Support Facility Loan Scheme  

  • Small and medium-scale businesses in the FESTAC area in Lagos State
  • Loans above N3 million will require shop documents and a property mortgage outside the market.  

 

Fidelity Bank Trader Support Facility Loan Scheme  Application Channels

You can apply for this Fidelity Bank Loan through the following:

  • Fidelity Bank branch


Fidelity Development Finance and Intervention Funds

Limit

₦720 million

Interest/m

5-15%

Tenor

6 years

This is an all-in-one intervention fund designed for businesses to meet daily business and long-term expansion needs. This loan provides funds for working capital, asset acquisition, and finance for business expansion. 

 

Requirements for Development Finance and Intervention Funds Loan Scheme  

  • Be a registered business 
  • Have a current account with Fidelity Bank
  • Be a properly structured company
  • Customer request letter 
  • 12-month statement of account 
  • Invoices 
  • Business plan 
  • Projected cash flow analysis 
  • Valuation report 
  • Verified collateral 

Fidelity Bank Development Finance and Intervention Funds Loan Application Channels

You can apply for this Fidelity Bank Loan through the following:

  • Fidelity Bank branch
Fidelity Bank Loan Calculator

If you are feeling lucky, take some minutes to calculate how much you will pay back before applying for any using the below Fidelity Bank loan calculator:


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Fidelty Bank Loan FAQs
 

What can affect my eligibility for a loan?

Several things can affect your chances of being approved for a loan including outstanding loans, bad credit ratings, and incomplete information. To ensure that there are no blockers to having your loan applications being rejected, make sure to liquidate any outstanding loans with Fidelity Bank and other banks.

What is the interest rate on a Fidelity Bank loan?

All Fidelity Bank loans carry different interest rates and fees. The loans available and their rates are as follows:

  • Payday loan: 4.5%
  • Personal loan: 2%
  • Point of Transaction loan: 5-15%
  • FLOAT: 4.5% 
  • NYSC loan: 2%
  • Migo Plan: 5-15%                                                                                               
  • FEALS: 5-15%
  • Personal Laon Scheme: 5-15%

How do I request a Fidelity Bank loan?

The different methods available for applying for a Fidelity Bank loan are:

  • *770*08#
  • Ivy Chat on WhatsApp
  • Fidelity Bank branch around you

How can I liquidate my digital personal loans?

Any digital personal loan you wish to liquidate by failing the USSD code *770*08# and select ‘pay loan’ option.  You can do this at no penalty. 

How much can I get for a personal loan?

The Fidelity Bank personal loan offers as much as N5 million or up to 40%  of your salary in loan.

can I get more information on Fidelity Bank loans?

If you wish to find out more on Fidelity Bank loans, check their loans listing page

 

 

Fidelity Bank boasts of some of the most convenient loan offers available today. Each loan has been carefully crafted

You can get other funding options such as loans from other providers.

Lois Samari
You are the first in our research hence, we rallies around doing rigorous checks, testing and analysis to help you make a good decision on products and services. Meanwhile, items providers' final views are superior to ours.
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