LOTUS RIDES (AUTO FINANCE)

Whether you are buying a brand-new car or a fairly used car or investing in a fleet of vehicles, our wide range of finance plans and payment options suit every personal and commercial need.

Features

  • Competitive and affordable monthly rentals/Repayment
  • New or Used Cars (up of 5 years old vehicle from verified dealers)
  • Local or Foreign Used
  • Payment plan tenured up to 5 years
  • Bank to establish partnership with Vehicle Dealers
  • LOTUS Bank will finance up to 70% of the value of the car
  • Low takaful/insurance rates

Eligibility

  • Age Eligibility: 24 - 50 years
  • Salaried OR Self Employed (5 years experience in business)
  • Small Business Owner (3 Years experience)
  • 3 months payslip
  • Salary domiciliation
  • Other Bank statement (12 months)
  • Asset as Security
  • Equity contribution of 30%

HOME APPLIANCE FINANCE

Plan ahead and enjoy a finance plan that supports your decisions

Features

  • For the acquisition on Home appliances
  • Flexible repayment up to 12 months
  • Partnership with Home Appliance/Gadget sellers (FOUANI, Samsung, etc.)

Eligibility:

  • Salary Account Holder
  • Salary domiciliation
  • Select Employers/Organisations
  • Post dated Cheque from select Banks
  • Asset purchased is the security
  • Employment Letter
  • Statement of Account from other Banks
  • Payslip (3 months minimum)

AGRIC FINANCE

Features

  • Land Purchase/Acquisition
  • Equipment Purchase
  • Development cost (land clearing, road & terrain etc.)
  • Working capital
  • Expansion of existing business
  • Business Advisory/Consultation
  • Value chain support
  • Cheap and competitive source of funding

Eligibility:

  • Business registered in Nigeria
  • Business establishment/Management experience of at least 3 years
  • Detailed and verified Workplan/schedule

LOTUS EDUCATION FINANCE

Looking to give your kids the best? Planning to increase your professional knowledge? LOTUS Education Finance is designed to take the stress out of learning. You can use to finance primary, secondary or university education.

Features

  • Used to finance personal and business needs needs.
  • The Bank appoints the customer as its agent to source for the goods/assets the customer wishes to purchase.
  • Tenor: Up to 36 months
  • Affordable and competitive pricing
  • Zero Facility and Processing Fees
  • Zero Account Maintenance Fee
  • Access to Lotus Digital Services including Internet Banking, Mobile Banking and many more
  • *Subject to applicable terms and conditions

Eligibility:

  • Age 18-50
  • Salary Account Holder
  • Self Employed -8 years' experience in business
  • 6 months payslip
  • Other bank statement where applicable (12 months)
  • Asset as security
  • Minimum equity contribution of 20%
  • Asset purchased will be used as addititonal security
  • Additional security may be apply
  • Monthly payment: 33% of net take home salary

LOTUS HOMES (HOME FINANCING)

Buying a dream house, investing in properties, or looking to reduce your finance payment? LOTUS Home finance is here to help

Features

  • Quick and convenient home ownership scheme
  • Home Purchase & Home construction
  • Tenured up to 20 years and subject to customer's age till retirement
  • LOTUS Homes will finance up to 70% of the value of f the property
  • Low takaful/insurance rates

Eligibility:

  • Age Eligibility: 24 - 50 years
  • Salaried OR Self Employed (8 years experience in d business)
  • Small Business Owner (5 Years experience)
  • Salary domiciliation
  • Other Bank statement (12 months)
  • Asset as Security
  • Equity contribution of 30%

EXPORT FINANCE

Pre Shipment

Finance Available to exporters (direct/indirect) for the purpose of funding purchase from suppliers and overhead expenses incurred in relation to the production of eligible goods for export prior to shipment.

Post Shipment

Finance Available to direct exporters for the export of eligible products on sight/credit term upon presentation of export documents after shipment of goods.

Eligibility

  • Business registered in Nigeria
  • Exportation of Local produce
  • Business establishment/Management experience of at least 3 years
  • Valid contract backing the eligible product to be exported
  • Good Track record in Export Proceeds repatriation

IMPORT FINANCE

A facility offered to facilitate the importation of raw materials or finished goods either on advanced/deferred terms

Eligibility

  • Business registered in Nigeria
  • Exportation of Local produce
  • Business establishment/Management experience of at least 3 years
  • Good Track record in Export Proceeds repatriation
  • Repatriation
  • Terms of Payment
  • Nature of goods
  • FX Fluctuation
  • Equity contribution

LOTUS All - Purpose Finance

With our All-Purpose Financing (APF), meeting your personal and business need is one less thing to worry about.

Features

  • Used to finance personal and business needs.
  • The Bank appoints the customer as its agent to source for the goods/assets the customer wishes to purchase.
  • Tenor: Up to 36 months
  • Affordable and competitive pricing
  • Zero Facility Processing Fees
  • Zero Account Maintenance Fee
  • Access to LOTUS Digital Services including Internet Banking, Mobile Banking and many more

Eligibility:

  • Age Eligibility: 18-50 years
  • Salary Account Holder*
  • Self Employed - 8 years' experience in business
  • 6 months payslip
  • Other Bank statement where applicable (12months)
  • Asset as Security
  • Minimum Equity contribution of 20%
  • Asset purchased will be used as additional security
  • Additional Security may apply
  • Monthly payment: Maximum 33% of net take home salary

Governing Contract

  • Murabaha (Cost Plus)

INVEST WITH US?

Gain insights into LOTUS Bank corporate strategy and business model.
Download Investor Presentation Deck here or e-mail invest@lotusbank.com