How to get a loan from Zenith Bank

Zenith bank has been in existence since May 1990 but began to operate as a commercial bank in June 1990. Zenith bank became a Public Limited Company(PLC) and was listed on the Nigerian Stock Exchange(NSE) in June 2004 and October 2004 respectively.

The main idea for Zenith bank Plc loan schemes is to fund ideas capable of shaping the world, to bring them to reality. Zenith Bank PLC has various loan schemes tailored to help you achieve your goals and dreams faster. In this article, we’ll be exploring the various loan schemes and how to apply for them.

Fine types of Zenith bank loans, requirements and how to apply below.

Z-Woman business package (SME loans)

Z-Woman is a single-digit loan product for female-owned businesses for all sectors(Beauty/Style, Confectionery, Fitness, Agriculture & Others). This loan scheme is set up by Zenith bank Plc to growing its SME sub-sector and also diversify its customer base. Eligible businesses are only female-owned businesses with a shareholding of 50% or any majority shareholding provided it’s owned by a woman.

The loan scheme is primarily for Business Expansion. It’s giving to cater for working capital requirements, purchase of raw materials, and upgrade of raw materials and infrastructure. You can get up to ₦10million for 12 to 24 months. 

MSME loan

MSME Loan is designed to finance small and medium enterprises in the sectors of Beauty/Style, Confectionery, and Fitness. You can get up to ₦2 million for 12 months. To qualify you must have:

  • a business account with Zenith bank of not less than 6 months old;
  • a business categorized in any of the approved sectors; and
  • a business having at least one of Zenith bank Plc electronic connection channels.

Retail loans for non-schemes

Zenith Bank Plc has three categories of Retail loans for non-schemes, which are:

  • Personal/Consumer loans to finance personal needs.
  • Asset acquisition/Car Loans to finance the purchase of vehicles or acquisition of household assets.
  • Mortgage Facility – This is designed to fulfill your aspiration to purchase your dream house with ease.

Education loan

Zenith Bank Plc Education loan scheme is designed to provide short-term funding to enable parents/guardians to pay tuition fees for their children/wards.


  • The minimum Facility amount is N100,000.
  • The maximum Facility amount is N5,000,000.
  • School fees will be paid directly to the child/ward’s school.
  • Maximum tenor of 3 months (Junior School), Maximum tenor of 9 months (Tertiary Institution).


  • Completed Application Form.
  • Parent/guardian must have salary account domiciled with Zenith bank.
  • The child/ward must have an account with Zenith bank.
  • Invoice of school /tuition fees.

Creative industry financing initiative (CIFI)

The Creative Industry Financing Initiative(CIFI) fund is an initiative of the Central Bank Of Nigeria(CBN) in collaboration with the Bankers’ Committee to boost job creation in Nigeria. Eligible activities/businesses include Fashion, Information Technology, Movie Production, Movie Distribution, Music, and Software Engineering.

You can get up to ₦30 million for Movie Production, ₦50 million for Movie Distribution, and the other activities/businesses depends on the project requirement. The loan tenor for the activities/businesses is also up to ten years.

Documents Required for Disbursement

  • Accepted Offer Letter
  • Business Plan
  • Board Resolution (if corporate)

 Pension advance

The purpose of this loan scheme is to provide Pension Advance to Timeless Pensioners(55 – 70years). The interest rate is 16℅ p.a. This loan scheme is divided into two parts, which are Timeless Pension Advance and Timeless Pension Advance Plus.

Timeless pension advance plusTimeless pension advance
Tenor:12 – 18 months30 – 90 days
Maximum loan amount:50% of Annual Pension Receivable sum100% of monthly pension value
Eligibility:Pensioners who receive a consistent monthly pension with the bank.
Pensioners who receive a consistent monthly pension with the bank.
Pensioners who receive a monthly pension of N500,000 and above.
Pensioners who receive a consistent monthly pension with the bank
Requirements:Credit Life Insurance policy issued by Prudential Zenith Life Insurance.
Letter of Introduction from the pension company.
Customer consent to debit account for the Insurance policy premium.
Accepted Offer Letter and completed facility sheet.
Accepted Offer Letter and completed facility sheet.
Letter of Introduction from the pension company.

Vehicle financing

The purpose of Zenith bank’s vehicle loan is to enable its customers (Salaried Income Persons, SMEs & Corporates) to acquire new vehicles in a financially convenient manner. The loan tenor is between 3 to 5 years for an 18℅ p.a interest rate. The offer includes the following: 

  • Free vehicle registration
  • Free car delivery within Nigeria
  • Free servicing (first 3 services)
  • 5 years warranty
  • Co-advertisement of the partnership
  • Car insurance with Zenith General Insurance

The requirements for salaried income persons include Letter of Introduction from Employer, Employee Status Enquiry/Employer confirmation and undertaking, and Recent 6-months payslip/salary bank account.

The requirements for SMEs and Corporates include a Company Profile, Recent Management/audited accounts, Bank statements, Personal Guarantee of a Director supported by a notarized statement of net worth, and Board Resolution (For Corporates only).

Receivable discounting / invoice discounting

Receivable Discounting/Invoice Discounting is a loan that allows the borrower to obtain monetary value (usually discounted) against confirmed invoices for jobs already executed.

LPO finance

LPO Finance is a loan made available by Zenith bank to lend to its customers to finance the supply of materials or execution of specific supply contracts to reputable organizations.

Import finance facility

Import Finance Facility is a type of credit availed specifically for the importation of raw materials, finished goods, and equipment. This can be made available as Unconfirmed LC, Confirmed LC, Deferred Payment LC, Standby LC, and Irrevocable LC.

Export finance facility

Export Finance Facility is a credit availed specifically for the export of agricultural produce or other commodities. This credit can either be availed at the pre-shipment or post-shipment stage of the transaction.


Lease is specifically financing or sale and leaseback financing to support the acquisition of assets or equipment.

Term loan

Term Loan is a credit (short term, medium, or long term) availed to finance specific capital projects expansion or lines of business for a specified tenor. Repayment can be bullet, balloon, or in instalments.

Bonds and guarantee

Bonds and Guarantee: These create contingent exposure for the bank. They take the form of instruments issued on behalf of customers to support contracts for supply, construction, and performance.


Overdraft is a type of loan which allows the borrower to draw a certain amount above the credit balance in their current account within a specified tenor usually not exceeding Twelve months.

Retail loans for schemes

This loan scheme is divided into four parts:

  • Salary Advance – a revolving credit with a clean-up cycle availing up to 60% of your net monthly salary. This is a flexible funding solution that will help address short-term financial needs.
  • Personal/Consumer loans to finance personal needs.
  • Asset acquisition/Car Loans to finance the purchase of vehicles or acquisition of household assets.
  • Mortgage Facility – This is designed to fulfill your aspiration to purchase your dream house with ease.

How to apply for a Zenith Bank loan

Before applying for any loan, make sure you have taken some time out to understand the various loan schemes. When you have chosen the loan scheme that best suits your need and income, then, you can proceed to apply for a Zenith bank loan scheme by visiting the nearest Zenith bank branch to you. 

You can also send an email to or, or call 012787000. Ensure that you have the application requirements for the loan you are applying for, as stated above. 


Zenith Bank Plc loan schemes are one of the best loan schemes with low-interest rates and maintenance fees. The interest on most Zenith bank loans is 9℅ per annum. If you are looking to fund an idea or dream, the Zenith bank loan is one of the best loan options you have.

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Anthony Adewuyi

Anthony Adewuyi

Anthony is a Content Writer with He is passionate about Finance, Business, and Tech related topics. He is a Digital Entrepreneur with vast experience in Data Analytics and Advanced Google Analytics

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