Loans

Secure, reliable services for individuals, families, and businesses.

Loan Requirements

Documents you need to apply for a loan

Valid means of identification

Passport photograph

Proof of income/business

Bank statement (3 months)

Utility bill (proof of address)

Guarantor (where applicable)

How to Apply

Simple 4-step process to get your loan approved

1

Application

Fill out our simple loan application form online or at any branch

2

Documentation

Submit required documents and complete verification process

3

Assessment

Our team reviews your application within 24 hours

4

Approval & Disbursement

Once approved, funds are disbursed to your account immediately

Our Loan Products

Access flexible loan options designed to support your personal needs, business growth, and financial goals – quickly, securely, and stress-free.

Regular Loan/Overdraft Facilities
Regular Loan/Overdraft Facilities
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Stress-free application process.

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Quick access to emergency funds.

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Flexible repayment terms.

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Competitive interest rates.

Salary Earner's Loan
Salary Earner's Loan
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Loan tied to monthly salary.

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Repayment through salary deductions.

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6–12 months repayment period.

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Fast processing (24–48 hours).

LPO / Project Financing
LPO / Project Financing
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Financing of up to 70% of the total project value.

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Loan amount starting from ₦500,000.

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Short tenor for quick turnover (90 days).

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Affordable reducing balance interest.

Micro-Enterprise Loan
Micro-Enterprise Loan
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Loans from ₦100,000 – ₦2,000,000.

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Up to 24 months repayment.

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Tailored for small businesses.

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Affordable rates with collateral flexibility.

Dream Asset Acquisition Product (DAAP)
Dream Asset Acquisition Product (DAAP)
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Buy brand-new appliances easily.

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Pay only 10% upfront.

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Up to 10 months repayment.

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Quick processing

Financial Empowerment Through Transportation (FETT)
Financial Empowerment Through Transportation (FETT)
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Acquire motorcycles/tricycles with 5% upfront.

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Repay over 12 months.

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Flexible weekly repayment.

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Insurance coverage included.

Co-operative / Association Loan Scheme
Co-operative / Association Loan Scheme
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Credit for group members.

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Weekly repayment system.

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Access to re-loans.

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Training & business development support.

Covenant Education Bridge Loan
Covenant Education Bridge Loan
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Up to ₦500,000 for school fees.

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Flexible repayment (up to 8 months).

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Competitive interest rates.

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Designed for Parents with children/wards Covenant affiliated schools.

Your bank in your pocket

Manage your money on the go with the Covenant MFB mobile app. Transfer funds, pay bills, check balances, and request loans — all from your phone, anytime, anywhere. Fast. Secure. Easy.

Cash and payments, anywhere.

Offer quick payments with POS and ATM services from Covenant MFB — built to support your business and community.

Your Bank is One Code Away

With *566*44#, your account is always within reach — fast, secure banking from any mobile phone.

www.covenantmfb.com.ng

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