Credit Facilities

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Ekondo Salary Advance Scheme (E-SALADS)

This is also a credit product specifically designed for civil and public servants who earn their monthly salaries through the Bank. They are allowed 30% of their net income in advance for as long as 12 months.

Features and benefits

  •  Designed for civil servants in the state
  •  Clients may request for overdrafts
  •  Loans can be given to civil servants using salary as collaterals
  •  Loans may extend to 3 years and beyond
Ekondo Asset Acquisition Scheme (EKAAS)

This is a credit related product. It is designed to enable customers acquire assets without having to deplete their disposable income. The scheme affords customers the unique opportunity of owning assets now and gradually paying down over a period of time.

The customer is expected to deposit 35% of the cost of the desired asset in the account and the bank will make up the balance so the asset can be purchased.

Features and benefits

  •  Easy credit for customers to aquire assets as Cars, TVs, fridges, etc
  •  Customers only deposits 30% of cost of assets
  •  It is tenured for 30,60,90 or 180 days etc
  •  Can be used as collateral for loan
  •  Amount above N 2m attracts negotiable interest rates
  •  May be accepted as collateral
Ekondo Housing Loan

This loan product is designed to aid low Income Earners/Civil Sevants in becoming home owners through provision of funds for the construction/reconstruction of homes.

Features and benefits

  •  Facility amount: N1,000,000 (maximum)
  •  Methodology: Individual/Group
  •  Duration: 2 years
  •  Grace period: 1 month
  •  No collateral
  •  Lower interest rate
  •  Flexible repayment structure
  •  Expert financial advice available
Ekondo Welfare Loan Scheme

This product is a composite loan package of 3 other loans namely:

  • Car Loan of ₦ 800,000
  • Housing Loan of ₦ 500,000 and
  • Computer loan of ₦ 100,000.

The repayment period is 3 years for the car and Housing loan and a year for the computer loan respectively.

Micro Loan

This loan is granted to small scale traders and starts from ₦ 50,000 to ₦ 500,000. Applicants must provide guarantors before drawing down on the facility.

Other terms and conditions are as in other loans

Ekondo Fast Cash

As the name implies, this product ensures that request for loan is treated speedily. A customer may request for loan from the bank and will get his account credited within 24 hours.

This product is designed for CROSS RIVER STATE CIVIL SERVANTS.

Features and benefits

  •  No Security
  •  24 Hours Ready Cash
  •  Account Opening (Optional)
  •  No Guarantor