Asset Products

EAZI CASH

This is a cash advance facility designed for regular income earners in paid employment to enable them meet their unplanned expenses. (e.g. house rents, tuition fees, medical bills, etc.).


Segmented, this facility is run via two (2) products:


1) EAZI PETTY CASH

Features:

  • Account Opening: Opening of a N3,000 hybrid account.
  • Product Amount: Minimum of N50,000 and maximum of N100,000 (subject to capacity)
  • Tenor: Maximum of six (6) months.
  • Documentation: Borrower’s six (6) months bank statement of salary account, photocopy of employment letter/confirmation letter/promotion letter/recent salary review and office ID card.
  • Securities: Borrower’s repayment cheques (where unavailable, the Account / Relationship Officer’s Personal Guarantee would suffice) and Guarantor’s single cheque (as back-up for default).
  • Repayment: Monthly instalments (principal + interest). Subject to a maximum of 33% of the borrower’s monthly net salary.
  • Guarantors: Two (2) credible guarantors, one of which must be from the borrower’s workplace.
  • Processing Time: 24 Hours. Once the requirements are met.

    • 2) EAZI CASH

    Features:

  • Account Opening: Same as Eazi Petty Cash.
  • Product Amount: Minimum of N100,000 and maximum of N500,000 (subject to capacity).
  • Tenor: Maximum of nine (9) months.
  • Documentation: Same as Eazi Petty Cash.
  • Securities: Same as Eazi Petty Cash.
  • Repayment: Same as Eazi Petty Cash.
  • Guarantors: Same as Eazi Petty Cash.
  • Processing Time: 24 Hours. Once the requirements are met.

    • EAZI PRODUCTS

    This is a product finance facility designed for regular income earners, groups/associations, micro entrepreneurs and SMEs with the desire to:

    1. Transform their houses and business domains into comfortable homes and workplace respectively.
    2. Acquire work tools and equipment to improve their respective income generating capacity.

    These products includes Power Generating Sets, Television Sets, Air-conditioning Units, Computers/Laptops, Cooling Boxes, Gas/Electric Cookers, Microwaves, Deep Fryers, Photocopiers, Sewing Machines, Hair Dryers, Milling Machines, Electric welding Machines, Printing Machines, Govt. approved Motorcycles, Tricycles, etc.


    Segmented, this facility is run via two (2) products, namely:


    3) EAZI LIFESTYLE

    Features:

  • Account Opening: Opening of an hybrid account : Individuals - N3,000. Groups/Associations/Corporate - N5,000
  • Product Amount: Minimum of N20,000 and maximum of N200,000 (subject to capacity).
  • Equity Contribution: Minimum of 20% of the cost of asset.
  • Tenor: Maximum of 6 months.
  • Documentation:
    1. Individuals - 6 months statement of bank account/credible sales records. Paid employees – letter of employment and 6 months payslips/statement of salary account and office ID card.
    2. Corporate Bodies – Board/Management resolution, CAC registration, current tax clearance certificate and a duly signed letter of request.
  • Securities: Borrower’s repayment cheques (where unavailable, the Account/Relationship Officer’s Personal Guarantee would suffice) and Guarantor’s single cheque (as back-up for default). Asset will also serve as collateral.
  • Repayment: Daily / Weekly / Monthly instalments (principal + interest).
  • Guarantors: Two (2) credible guarantors
  • Processing Time: 24 Hours. Once the requirements are met.

    • 4) EAZI LEASE

    Features:

  • Account Opening: Same as Eazi Lifestyle
  • Product Amount: Minimum of N200,000 and maximum of N1,500,000 (subject to capacity).
  • Equity Contribution: Same as Eazi Lifestyle.
  • Tenor: Maximum of twelve (12) months.
  • Documentation: Same as Eazi Lifestyle.
  • Securities: Same as Eazi Lifestyle.
  • Repayment: Same as Eazi Lifestyle.
  • Guarantors: Same as Eazi Lifestyle.
  • Processing Time: 24 Hours. Once the requirements are met.

    • MUMIC EASY LIFE

    Features:

  • Account Opening: Opening amount - N500.
  • Product Amount: Minimum of N5,000 and maximum of N30,000 (subject to capacity).
  • Equity Contribution: Prorated deposit of the upfront 12% fee, for five (5) days.
  • Tenor: Maximum of 60 working days (i.e. 3 months).
  • Securities: None required.
  • Repayment: Daily / Weekly
  • Guarantors: One (1) credible guarantor.
  • Processing Time: 24 Hours. Once the requirements are met.