Blog

Home » Money » Loans & Credits » Zedvance Loans
Based on research and not influenced
This is based on rigorous research, testing and not influenced by our earning potentials.

Requirements for Advans Microfinance Bank Loans

  • Post author:
  • Post last modified:06.03.2023

Advans Microfinance loans are financial solutions targeted at SMEs to aid business growth.

The loans provided at Advans are designed to give customers the satisfaction of having a smooth financial status. These loans target business needs and efficiently provide solutions for those needs.

With Advans Microfinance loans, you can make sure you stay ahead of your competition and make the best decisions for your business always. a step at a time.

At Advans Microfinance Bank, you can access loans of up to N75 million with interest rates that are affordable. The entire application process is simple.

The Advans Microfinance loans available are Advans 48 Loan, Advans Further Loan, Advans Business Loan, and Advans Together.
This article will give you further information on these loans in order for you to make the right decision in choosing the right loan for you.

 

Advans Microfinance Loans

Below are the available Advans Microfinance loans with their requirements:

 


Advans 48 Loan

Limit

₦5 million

Interest

1-2%

Tenor

3 months

This Advans Microfinance loan is available to business owners (Nigerian or non-Nigerian) who are looking for a loan to grow their business. You can get up to a minimum of N150,000 and a maximum of N750,000 in 2 days or less and a flexible repayment method that takes the pressure off you.

The tenor on this Advans Microfinance loan is between 1-3 months. It comes with an interest rate varying on fees between 1-2%.

The eligibility criteria for this loan require you to be a Nigerian or a resident of Nigeria and a business owner. You must also be above the age of 21 and have maintained the same business location for the last 12 months. 

 

Requirements for Advans Microfinance Bank  Advans 48 Loan

  • Proof of ownership of the business (e.g. CAC documents).
  • Valid means of identification (National ID, driver’s license, Permanent voter’s card).
  • 3 passport photographs.
  • Current utility bill (proof of residency).

 

Advans Microfinance Bank Advans 48 Loan Application Channels

You can apply for this Advans Microfinance loan through the following:

  • Online application form 
  • Advans Microfinance Bank call center


Advans Further Loan

Limit

₦750,000

Interest

1-2%

Tenor

3 months

If you have a micro business or an SME sector, this Advans Microfinance loan is targeted towards helping you grow and expand your business and also acquire assets necessary for your business and its growth.

The limits on this loan are a minimum and maximum of N1,500,000 and N5,000,000 respectively with flexible collateral required. The period allowed for repayment is 24 months. The interest rate varies with fees between 1-2%

To be eligible for this loan, the following must be met:

  • Applicant must have a micro-business or SME
  • Applicant must be Nigerian or a resident of Nigeria
  • Applicant must be 21 and above.
  • Applicant must have spent 12-18 months at the same business location.

 

Requirements for Advans Microfinance Advans Further Loan

  • Proof of ownership of the business (CAC documents).
  • 1 guarantor.
  • Valid means of identification (National ID, driver’s license, Permanent voter’s card).
  • 3 passport photographs.
  • Current utility bill (proof of residency).

 

Advans Microfinance Bank Advans Further Loan Application Channels

You can apply for this Advans Microfinance Bank loan through the following:

  • Online application form 
  • Advans Microfinance Bank call center


Advans Business Loan

Limit

₦75 million

Interest

1-2%

Tenor

24 months

This Advans Microfinance loan is designed to aid business owners in keeping their businesses running by providing accessible funds that will help keep the business afloat.

You can obtain loans of between N10,000,000 and N75,000,000 with flexible collateral required. The tenor set for repayment is between 6-24 months depending on the loan amount It comes with an interest rate vary and the fees are between 1-2%.

To be eligible for this Advans Microfinance loan, the following must be met:

  • Applicant must have a micro-business or SME
  • Applicant must be Nigerian or a resident of Nigeria
  • Applicant must be 21 and above.
  • Applicant must have spent 12-18 months at the same business location.

 

Requirements for Advans Microfinance Bank  Advans Business Loan

  • Proof of ownership of the business (CAC documents).
  • Valid means of identification (National ID, driver’s license, Permanent voter’s card).
  • 1 guarantor.
  • 3 passport photographs.
  • Current utility bill (proof of residency).

 

Advans Microfinance Bank Advans Business Loan Application Channels

You can apply for this Advans Microfinance loan through the following:

  • Online application form 
  • Advans Microfinance Bank call center


Advans Together Loan

Limit

₦1 million

Interest

1-2%

Tenor

24 months

Advans Together brings a group of people with similar financial needs for business together and offers loans from N50,000 to N1,000,000. This makes it easier for everyone to obtain what they need and pay back efficiently. Members of this group must not be a nuclear family and should be business owners in the same market.

The tenor on this Advans Microfinance loan is between 6-24 months with varying interest rates and fees between 1-2%.

The eligibility for the loan requires that you:

  • Must be a business owner.
  • Must be Nigerian or a resident of Nigeria (10 years).
  • Ages 21 and above.
  • A group of 2-5 individuals.
  • Must have spent 12 months at the same business location.

 

Requirements for Advans Microfinance Bank  Advans Together Loan

  • Proof of ownership of the business (CAC documents).
  • Valid means of identification (National ID, driver’s license, Permanent voter’s card).
  • 3 passport photographs.
  • Current utility bill (proof of residency).

 

Advans Microfinance Bank Advans Together Loan Application Channels

You can apply for this Advans Microfinance Bank loan through the following:

  • Online application form 
  • Advans Microfinance Bank call center


Advans Access Loan

Limit

₦1.5 million

Interest

1-2%

Tenor

24 months

This is Advans Microfinance loan available to business owners who are looking for working capital to improve the quality of their business to meet the needs of their customers. A minimum loan amount of N150,000 and a maximum amount of N1,500,000 is accessible in this loan.

One advantage of this Advans Microfinance loan is that the tenor is set to monthly payments that suit your business needs. The interest rate varies and fees are between 1-2%.

Eligibility

  • Must be micro businesses and sole proprietors.
  • Must be Nigerian or a resident of Nigeria (10 years).
  • Ages 21 and above.
  • Must have spent 12 months at the same business location.

 

Requirements for Advans Microfinance Bank  Advans Access Loan

  • Proof of ownership of the business (CAC documents).
  • Valid means of identification (National ID, driver’s license, Permanent voter’s card).
  • 3 passport photographs.
  • 1 guarantor.
  • Current utility bill (proof of residency)

 

Advans Microfinance Bank Advans Access Loan Application Channels

You can apply for this Advans Microfinance loan through the following:

  • Online application form 
  • Advans Microfinance Bank call center


Advans Top-Up Loan

Limit

₦5 million

Interest

1-2%

Tenor

24 months

If you might be looking for a way to have more funds when you have an existing loan, then this is your option. The Advans Top-up allows you to access additional cash that will be added to your already existing Advans Microfinance loan for you to carry out needed projects. You can access a minimum of N500,000 and a maximum of N5,000,000 with this Advancs Microfinance loan. The payment options are monthly or bullet payments.

Eligibility 

  • 6 months’ loan history with Advans.
  • Clean loan history with no loan default.
  • Minimum loan amount of N500,000.
  • Available for short-term needs such as promotions, clearing, and contracts with clear evidence.

 

Requirements for Advans Microfinance Bank  Advans Top-Up Loan

  • Advans account turnover.
  • Valid means of identification.
  • Proof of ownership of the business (CAC documents).
  • 1 guarantor.

 

Advans Microfinance Bank Top-Up Loan Application Channels

You can apply for this Advans Microfinance Bank loan through the following:

  • Online application form 
  • Advans Microfinance Bank call center

Advans Features

Asides from loans, there are other features Advance Microfinance Bank offers that you can enjoy. these features are:

 

Advans Project

As a business owner, you might have plans to increase your business opportunities in the future. Advans Project is a savings product that aids individuals in saving for their future projects. It doesn’t have a fixed deposit amount. It is remunerated fixed deposit with multiple deposits.

Eligibility

  • Must be a Nigerian or a resident of Nigeria.
  • Must be Micro or Small entrepreneurs/sole proprietors/individuals.
  • Must be of age 18 and above.

Requirements

  • Valid ID card.
  • 2 passport photographs.
  • Current utility bill.
  • Current/savings account.

Interest Rate

6-9% interest on a quarterly basis.

Tenor

Maximum tenor of 3-12 months.

 

Advans Future

This savings account is targeted toward helping you plan and invest for the future. You can make better plans for your future with these savings. With the Advans Future savings plan, you can save money to secure your future and avoid unwanted situations.

This plan has a minimum deposit of N5,000. It can be a short or long-term deposit depending on your plans.

Eligibility

  • Must be a Nigerian or a resident of Nigeria.
  • Must be Micro or Small entrepreneurs/sole proprietors/individuals.
  • Must be of ages 18 and above.

Requirements

  • Valid ID card.
  • 2 passport photographs.
  • Current utility bill.
  • Current/savings account.

Interest Rate

9-13.5% interest on a quarterly basis.

Tenor

Maximum tenor of 1-12 months.

 

Advans Future Gold

This savings plan is an advanced version of the Future savings. It requires a minimum deposit of N50,000.

Eligibility

  • Must be a Nigerian or a resident of Nigeria.
  • Must be Micro or Small entrepreneurs/sole proprietors/individuals.
  • Must be of age 18 and above.

Requirements

  • Valid ID card.
  • 2 passport photographs.
  • Current utility bill.
  • Current/savings account.

Interest Rate

Up to 13% interest with access to monthly interests and no maintenance fees.

Tenor

Maximum tenor of 1-12 months.

 

Advans Kiddies

A parent/guardian always wants to secure the future of their children/wards. The Advans Kiddies is the right product for investing in your kids’ future. It is flexible and designed to give you peace of mind when it comes to your children’s future. The interest rates are competitive and the minimum deposit amount is N1,000.

Eligibility

  • Must be a Nigerian or a resident of Nigeria with kids and wards.
  • Must be Micro or Small entrepreneurs/sole proprietors/individuals.
  • The child/ward must be between 1-18 years old.

Requirements

  • Valid ID card.
  • 2 passport photographs.
  • Current utility bill.
  • Current/savings account.

Interest Rate

5% on interest.

Tenor

1-12 months tenor.

 

Advans Super Save

With this product, you can enjoy an interest of up to 6% on your account saving and also 1 free withdrawal without losing your interest rate. Setting up the account is a fast and easy process.

For this type of account, there is a minimum deposit of N50,000 required

Eligibility

  • Must be a Nigerian or a resident of Nigeria.
  • Must be Micro or Small entrepreneurs/sole proprietors/individuals.
  • Must be of age 18 and above.

Requirements

  • Valid ID card.
  • 2 passport photographs.
  • Current utility bill.
  • Current/savings account.

Interest Rate

Up to 6% interest.

Tenor

Maximum tenor of 1-12 months.

 

Advans Instant Biz Save

This product offers unlimited withdrawals and fees attached. Opening and closing an account is free.

It has a minimum deposit of N50,000.

Eligibility

  • Must be a Nigerian or a resident of Nigeria.
  • Must be Micro or Small entrepreneurs/sole proprietors/individuals.
  • Must be of ages 18 and above.

Requirements

  • Valid ID card.
  • 2 passport photographs.
  • Current utility bill.
  • Current/savings account.

Interest Rate

Up to 6% interest.

Tenor

Maximum tenor of 1-12 months.

 

Advans Tomorrow

Advans Tomorrow has a high-interest rate on the minimum deposit balance that lets you enjoy up to 4 free withdrawals. There are no fees attached to this product. The minimum deposit is N1,000 and can be made by the client or a third party.

Eligibility

  • Must be a Nigerian or a resident of Nigeria.
  • Must be Micro or Small entrepreneurs/sole proprietors/individuals.
  • Must be of age 18 and above.

Requirements

  • Valid ID card.
  • 2 passport photographs.
  • Current utility bill.

Interest Rate

Up to 10% interest.

 

Advans Payroll

This service product is designed to help businesses in administering salaries to their workers. It ensures the efficient distribution and management of employee salaries. The employees’ salary histories are tracked and each client is assigned a payroll administrator.

A processing fee of N15 per staff, interest rates, and other incentives are rebated if needed.

Eligibility

  • Business owners with up to 10 employees.
  • Nigerian or a resident of Nigeria.
  • Ages 21 and above.
  • Must have spent 12 months at the same business location.

Requirements

  • Proof of ownership of the business (CAC documents).
  • Valid means of identification (National ID, driver’s license, Permanent voter’s card).
  • 3 passport photographs.
  • Current utility bill (proof of residency).

Advans Microfinance 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 Advans Microfinance Bank loan calculator:

Two columns
Vertical
Horizontal
Loan Calculator
Summary
Name Total
"{{getWooProductName}}" has been added to your cart
Have a promocode?
Promocode Hide Show

Advans Microfinance Bank Loan FAQs

Do I need a savings account with Advans Microfinance Bank before I can apply for a loan?

No, you do not need an open savings account with the bank before applying for a loan.

How long do I wait for my application to be processed?

The application process for an Advans Microfinance loan can take around a week to go through vetting. Upon approval, your loan will be disbursed within 2 days or less.

Can I get a top-up for my Advans Microfinance loan when I already have an active loan?

Yes, you can get a top-up for any Advans Microfinance loan you have. Advans top-up allows for a refill of your existing loan.  To ensure you are eligible, review the Advans top-up section of this article and see the requirements.

Are Advans Microfinance bank loans secured?

Most of the Advans Microfinance loans do not require collateral. However, some others do and these requirements are stated under each loan. 

Do I have to go to the bank to deposit money into my savings account?

No, you do not. As long as you have your ATM Card or mobile bank app, you can make deposits anywhere at any time.

Can I take out my savings before the period that was set?

You can withdraw your savings at any time. But you may lose your interest if withdrawn before the interest period.

How can I find out more on Advans loans and features?

Advans Microfinance Bank feature can be accessed on their site

Advans Microfinance Loans are one of the most popular credit facility companies in the country, They have set out several funding and savings options to cater to your needs. 

In this article, you will see all the available Advance Microfinance loans and savings features. For other credit options, you can see loans from other providers.

Lois Samari
Latest posts by Lois Samari (see all)
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.
0 0 votes
What do you think?
Subscribe
Notify of

0 Feedback
Inline Feedbacks
View all comments