Ijara Service

Education Financing

Spontaneous Finance

  • Access up to 100% of School/Tuition fees
  • Tenor: Up to 24 months
  • Mark-up: Affordable and competitive pricing
  • Fee: Zero Facility and Processing Fees
  • Account Maintenance Fee: Zero

Eligibility

  • Evidence of enrollment in a school
  • School Fees Invoice
  • Confirmed payment source
  • Salary Account Holder
  • Statement of Account from other Banks
  • Payslip (3 months minimum)
  • Payment to be made directly to the school.
LOTUS Education Financing
Home Appliance Financing
Murabaha/Bai Muajjal

Home Appliance Financing

Benefits

  • Access up to 33% of Salary
  • Tenor: Up to 24 months
  • Mark-up: Affordable and competitive pricing
  • Fee: Zero Facility and Processing Fees
  • Account Maintenance Fee: Zero
  • Partnership with recognised Home Appliance/Gadget sellers

Eligibility

  • Salary Account Holder
  • Confirmed payment source
  • Select Employers/Organizations
  • Direct Debit/Post-dated Cheque from select Banks
  • Employment Letter
  • Statement of Account from other Banks
  • Payslip (3 months minimum)
  • Asset purchased will be used as security
Salam, Murabaha, Ijara wa Iqtina or any other appropriate contract

Agric Finance

  • 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 pricing
  • Zero Account Maintenance fee, processing fee, management fee

Eligibility

  • Business registered in Nigeria
  • Business establishment/Management experience of at least 1 year
  • Detailed and verified Workplan/schedule
  • Subject to satisfactory appraisal of request
LOTUS Agric Finance
LOTUS Rides - New
Murabaha, Bai Muajjal Ijara wa Iqtina.

LOTUS Rides - New

  • Access up to 33% of Salary
  • To finance quick and convenience acquisition of a vehicles.
  • Competitive and affordable monthly payment
  • Can only be used to finance new cars
  • Pricing Benchmark : Affordable and competitive pricing
  • Tenor: 5 years
  • Bank to establish partnership with Vehicle Dealers
  • LOTUS Bank will finance up to 80% of the value of the car
  • Low takaful/insurance rates
  • Free vehicle servicing for 6 months

Eligibility

  • Salary Account Holder
  • Confirmed payment source
  • Select Employers/Organizations
  • Direct Debit/Post-dated Cheque from select Banks
  • Employment Letter
  • Statement of Account from other Banks
  • Payslip (3 months minimum)
  • Asset purchased will be used as additional security
Murabaha, Bai Muajjal Ijara wa Iqtina.

LOTUS Rides - Old

Benefits

  • Access up to 33% of Salary
  • To finance quick and convenience acquisition of a vehicles
  • Competitive and affordable monthly payment
  • Used Cars (up of 10 years old vehicle from verified dealers)
  • Local or Foreign Used
  • Pricing Benchmark : Affordable and competitive pricing
  • Tenor: 4 years
  • Bank to establish partnership with Vehicle Dealers
  • LOTUS Bank will finance up to 80% of the value of the car
  • Low takaful/insurance rates

Eligibility

  • Salary Account Holder
  • Confirmed payment source
  • Select Employers/Organizations
  • Direct Debit/Post-dated Cheque from select Banks
  • Employment Letter
  • Statement of Account from other Banks
  • Payslip (3 months minimum)
  • Asset purchased will be used as additional security
LOTUS Rides - Old
LOTUS Homes
Ijara wa iqtina

LOTUS Homes

  • Quick and convenient home ownership scheme
  • Home Purchase/Construction
  • Tenured up to 10 years and subject to customer's age till retirement
  • Pricing Benchmark: Affordable and competitive pricing
  • LOTUS Bank will finance up to 80% of the value of the property
  • Low takaful/insurance rates

Eligibility

  • Age Eligibility: 24 - 49 years
  • 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 additional security
Murabaha

Lotus Lifestyle

  • Used to finance the personal needs of businesses and individuals.
  • The Bank appoints the customer as its agents to source for the goods/assets the customer wishes to purchase.
  • Access up to 33% of Salary.
  • Tenor: Up to 36 months
  • Mark-up: Affordable and competitive pricing
  • Fee: Zero Facility and Processing Fees
  • Account Maintenance Fee: Zero
  • Partnership with recognised utility

Eligibility

  • Age Eligibility: 18 - 50 years
  • 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 additional security
  • Additional Security may apply
Lotus Lifestyle Financing
LOTUS SME Finance
Murabaha and Ijara wa iqtina

SME Finance

Benefits

  • To finance working capital of an eligible business, or purchase of fixed assets to be used in the business.
  • Number of Years in Business: 1 year minimum
  • Good Credit History
  • Only Profitable organisation will be financed
  • Tenor: Murabaha – 1 year with 90 days cycle
    Ijara – up to 48 months
  • Mark-up: Affordable and competitive pricing
  • Fee: Zero Facility and Processing Fees
  • Account Maintenance Fee: Zero
  • Partnership with recognised utility

Eligibility

  • Business Account
  • Business establishment/Management experience of at least 3 years
  • Flexible security arrangement
Murabaha

Traders Coins

To finance the purchase of tangible and eligible goods. The Bank buys the goods and sell to the customer at a markup for onward sales to their customers. Sales proceeds are then used to settle the Trust Finance.

  • This will be financed using the Murabaha contract.
  • Local or foreign purchases
  • Mark-up computed and negotiated based on risk profiling
  • Cheap and competitive source of funding
  • Flexible repayment based on business
  • Zero Account Maintenance fee, processing fee, management fee

Eligibility

  • Lien on the goods purchased
  • Time facility
  • Evidence of viable business/trade
  • Member of a market association for at least 6 months
  • Business establishment/Management experience of at least 12 months
Traders Coins

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