Loans & Grants

Lapo Personal Loan – How to obtain a personal loan from Lapo

Lapo Personal Loan is a collateral-free loan product offered by LAPO Microfinance Bank to individuals who need financial assistance for their personal or business needs. The loan amount ranges from N10,000 to N500,000 and the repayment period is up to 36 months.

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How can I apply for a Lapo personal loan?

  1. Visit the nearest Lapo branch around you.
  2. Next, request for a personal loan application form.
  3. Lastly, fill out the application form given to you, attach the necessary documents to the completed form, and submit it.

The necessary documents to attach to your application form are:

  • Duly completed loan application form
  • 2 guarantors
  • A valid and acceptable means of ID (national ID, a driver’s license, your voter’s card or even an international passport)
  • Current utility bill

Once you have submitted your application form, a Lapo representative will review it and contact you if your application is approved. If your application is approved, you will be required to sign a loan agreement and make a down payment. The loan amount will be disbursed to you after you have made the down payment.

Here are some additional things to keep in mind when applying for a Lapo personal loan:

  • You must be a Nigerian citizen
  • You must be at least 18 years old
  • You must have a valid means of ID
  • You must have a regular source of income
  • You must have a good credit history

Lapo personal loans typically have an interest rate of 20% per annum. The loan repayment period is usually 12 months. However, you can choose a repayment period of 6, 8, or 10 months if you prefer.

What documents do I need to apply for a Lapo personal loan?

  • Duly completed loan application form: You can get this form from any Lapo Microfinance Bank branch.
  • 2 guarantors: Your guarantors must be adult Nigerian citizens with a valid means of identification and a good credit history.
  • A valid means of identification: This could be your national ID card, driver’s license, voter’s card, or international passport.
  • Current utility bill: This is to verify your residential address.

In addition to these documents, Lapo Microfinance Bank may also require you to provide other documents, such as:

  • Proof of income: This could be your payslips, business registration certificate, or tax returns.
  • Bank statement: This is to show your regular income and expenses.
  • Property documents: If you are applying for a loan to purchase a property, you will need to provide documents such as the title deed to the property.

Please note that the exact documents required may vary depending on your individual circumstances. You should contact Lapo Microfinance Bank directly for more information.

Here are some additional things to keep in mind when applying for a Lapo personal loan:

  • You must be at least 18 years old to apply for a loan.
  • You must have a valid means of identification.
  • You must have a good credit history.
  • You must be able to repay the loan on time.

Lapo Microfinance Bank is a popular option for people who need a personal loan in Nigeria. They offer competitive interest rates and flexible repayment terms. However, it is important to compare different lenders before you apply for a loan, as the terms and conditions may vary.

What is the code for Lapo USSD banking?

The USSD code for Lapo USSD banking is *371#. You can use this code to access a variety of banking services from Lapo Microfinance Bank, including:

  • Checking your account balance
  • Making transfers
  • Repaying loans
  • Applying for loans
  • Opening a savings account
  • And more

To use the Lapo USSD code, simply dial *371# on your phone and follow the prompts. You will need to enter your BVN and other personal information in order to authenticate your transactions.

Please note that there is a N6 service charge for using the Lapo USSD code. This charge is imposed by your mobile network operator.

ALSO READ: Zedvance Loans – How to get a loan

Here are some additional information about Lapo USSD banking:

  • The Lapo USSD code is available to all Lapo Microfinance Bank customers.
  • You can use the Lapo USSD code from any phone, regardless of whether it is a smartphone or not.
  • You do not need to have an internet connection to use the Lapo USSD code.
  • The Lapo USSD code is a convenient way to access your Lapo Microfinance Bank account from anywhere.

In Conclusion:

the Lapo USSD code offers a hassle-free and accessible method for Lapo Microfinance Bank customers to manage their accounts. With the Lapo USSD code, you can conveniently perform various banking transactions without the need for an internet connection or a smartphone. Whether you need to check your account balance, transfer funds, or pay bills, the Lapo USSD code provides a simple and efficient solution. So, take advantage of this convenient banking tool and experience the ease and convenience of accessing your Lapo Microfinance Bank account from anywhere.

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