Group of individuals takes loans for income generating activity wherein group members guarantee each other’s loans.

1. A group of minimum of 5 members and maximum of 15 members.
2. Group application letter to be signed by the group leader and the secretary (on group letter-head).
3. Application forms to be completed by all group members.
4. Appoint 1 leader and 1 secretary to manage the group.
5. Set only one meeting point (maybe leader’s house or shop or other generally agreed location).
6. 2 guarantors (one from the group and one other business man /woman from outside the group).
7. 1 family/relative referee
8. Loan from N50, 000 to N150, 000 for each members of the group at the same time.
9. Repayment must be daily/weekly, monthly repayment is not allowed under this product.

Terms and condition apply

This is our exclusive product designed to support businesses and not limited to any particular type of industry or service, and includes small manufacturing companies, trading companies, retailing, rental Service Company etc.

1. Borrower must live and work within Lagos State.
2. Borrower must have an active business and flows of income with a lockup shop.
3. Length of business must not be less than 6 months
4. Shop rent receipt
5. Borrower must a have a verifiable monthly income from identified business.
6. Last 6 months ‘bank statement
7. Cheque is compulsory
8. Repayment is either daily or weekly
9. 2 guarantors required

This is our special lending package to emerging wealthy individuals.

1. Operate savings account daily for one month.
2. Disbursement range is N30, 000 to N150, 000
3. Tenor is between 30-60 working days
4. Repayment is daily cash collection
5. 1 guarantor is required
6. No collateral is required.

Terms and condition apply

This is our special lending package to emerging wealthy individuals.

1. Client must be a confirmed staff of a Bank
2. Loan application letter
3. Six (6) months’ salary bank statement/ pay slips
4. Letter of employment/ last promotion letter
5. Maximum tenor for the loan is six (6) months
6. Repayment shall not exceed 33% of the monthly salary
7. Repayment mode is strictly through cheque/ Remita (standing order) mandate on the client’s salary account
8. 2 guarantors required one of which must be a banker.
9. No collateral is required

Terms and condition apply

Rolling period: 30 – 90 days maximum (must never exceed the period on the contract)
LOAN AMOUNT: 75% of total Invoices or contract value to be availed CUSTOMER’S CONTRIBUTION: 25% of the loan value Minimum Value: As indicated on Invoice Security: Domiciliation of proceeds or Nomination of bank account or any other type of security acceptable to RIGO MICROFINANCE BANK LTD

1. Original invoices, contract and/or LPO and Way bill (where applicable) to be submitted.
2. Irrevocable Tripartite domiciliation of agreement in respect of Contract proceeds executed by beneficiary company, Rigo Microfinance Bank and the employer company.
3. Tenor is between 30-60 working days
4. Letter from Employer confirming the LPO, Contracts and/or invoice and the details & time of payment.
5. Letter of domiciliation of contract payment from contracting Company.
6. Other general loans requirements

Terms and condition apply

1. Not more than N2m for 2nd hand only
2. 30% equity contribution.
3. 10% initial deposit into savings account.
4. Letter of domiciliation of salary or guarantee of employer.
5. Maximum tenor is 12 months
6. Evidence of confirmation of appointment (no contract staff)
7. Copies of three month’s pay slips and staff identity card.
8. Customer to make deposits for insurance, tracking mechanism and registration/licensing fees - vehicles must be comprehensively insured before customers take possession.
9. Fund to be released to vehicle vendors directly.
10. Vendors must be in the Bank’s pre-qualified list.
11. Vehicles must be purchased in the name of the Bank.
12. Original ownership documents must be domiciled with the Bank.
13. Vehicles to be financed must be for personal use or commercial use.
14. Other general loans requirements

Terms and condition apply

1. No previous relationship is required.
2. Cash deposit of N5, 000 non refundable.
3. Maximum tenor is 10 months
4. Daily/weekly repayment.
5. Repayment is cash deposit strictly
6. 2 guarantors required
7. Applicant must belong to a Tricycle Association
8. The Bank make deposits for insurance, tracking mechanism and registration/licensing fees - vehicles must be comprehensively insured before customers take possession.
9. Fund to be released to vehicle vendors directly.
10. Vendors must be in the Bank’s pre-qualified list.
11. Vehicles must be purchased in the name of the Bank.
12. Original ownership documents must be domiciled with the Bank.
13. Vehicles to be financed for commercial use only.
14. Other general loans requirements.

Terms and condition apply

1. Client must be in active employment.
2. Client’s employer must meet Rigo MFB’s prequalification terms.
3. Loan application letter.
4. Six (6) months’ salary bank statement/ pay slips.
5. Letter of employment/ last promotion letter.
6. Maximum tenor for the loan is six (6) months.
7. Repayment shall not exceed 33% of the monthly salary.
8. Repayment mode is strictly through cheque/ Remita (standing order) mandate on t client’s salary account.
9. 2 guarantors required one of which must be working in the same company
10. No collateral is required

Terms and condition apply

As a Bank, we recognize the impact of educational institutions in a society. Therefore, this facility is specially created to support schools and meet their urgent needs.
Also, we finance their suppliers of books and other educational materials. It is also our exclusive credit Plans for school employees, providing lower rate of interest and offering them access to banking services at low rate of interest, quick processing and servicing.

SCHOOLS:

1. Applicants for this loan product must first have their schools assessed with the below documents:
2. Cac registration documents (original should be sighted).
3. Licenses and/or trading/practicing approval.
4. Six (6) months bank statement.
5. Students register and staff and maintenance expenses records.
6. Customer to obtain 6 months statement of account.
7. 2 guarantors (1 school proprietor and any corporate worker).
8. Signed blanked cheques (front & twice at back).
9. Repayment pattern to be schedule on termly basis.

SCHOOLS’ EMPLOYEE:

1. Client must be in active employment in a recognized school.
2. Client’s employer must meet Rigo MFB’s prequalification terms.
3. Loan application letter.
4. Six (6) months’ salary bank statement/ pay slips.
5. Letter of employment/ last promotion letter.
6. Maximum tenor for the loan is six (6) months.
7. Repayment shall not exceed 33% of the monthly salary.
8. Repayment mode is strictly through cheque/ Remita (standing order) mandate on t client’s salary account.
9. 2 guarantors required one of which must be working in the same company.
10. No collateral is required.

Terms and condition apply

1. Minimum value of N50,000 and Maximum N1m value of item(s).
2. Client must be a confirmed staff of a Bank.
3. Loan application letter.
4. Six (6) months’ salary bank statement/ pay slips.
5. Letter of employment/ last promotion letter.
6. Maximum tenor for the loan is six (6) months.
7. Repayment shall not exceed 33% of the monthly salary.
8. Repayment mode is strictly through cheque/ Remita (standing order) mandate on t client’s salary account.
9. 2 guarantors required one of which must be a banker.
10. No collateral is required.

DISBURSEMENT CONDITIONS:

1. Must be comprehensively insured before customer can take possession.
2. Payments to be made to vendors directly.
3. Vendors must be in the Bank’s pre-qualified list of Vendors.
4. Asset must be purchased in the name of the Bank.
5. All original ownership documents must be domiciled with the Bank.
6. Asset to be financed must be for personal or commercial use.

Terms and condition apply

1. Minimum N30,000 and Maximum N500,000 worth of item(s).
2. OPERATE YOUR DAILY OR WEEKLY CONTRIBUTIONSAVINGS ACCOUNT WITH RMFB FOR ONE MONTH.
3. 2 GUARANTORS (BUSINESS MEN/WOMEN WHO HAVE SHOP(S) WITH EVIDENCE OF RENT/LEASE OR OWNERSHIP).
4. Borrower must live and work within Lagos State
5. Borrower must have an active business and flows of income with a lockup shop.
6. Length of business must not be less than 6 months
7. Shop rent receipt
8. Borrower must a have a verifiable monthly income from identified business.
9. Last 6 months ‘bank statement
10. Repayment is either daily or weekly.

DISBURSEMENT CONDITIONS:

1. Must be comprehensively insured before customer can take possession.
2. Fund to be released to vendors directly.
3. Vendors must be in the Bank’s pre-qualified list.
4. Asset must be purchased in the name of the Bank.
5. Original ownership documents must be domiciled with the Bank.
6. Asset to be financed must be for personal or commercial use.

Terms and condition apply

Extremely fast and safe money transfer to an account in any bank. Allows you to beat the queue and save time. Why stay on queue when with Rigo express you get your transactions done faster and safe?

1. Allows cash deposit into any account in any bank
2. Allows cash withdrawal from any account in any bank
3. Allows transfer to third parties with account in any bank.

To encourage the savings culture of employees while giving them easy access to loans at a competitive rate.

1. Minimum of 5 members and above.
2. Minimum monthly contribution of 5000 naira.
3. Loan outstanding deductions from share of profit and savings.
4. Access to 200% of savings as loan.
5. Equal share of profit on loans disbursed at the end of the year by RIGO MFB and the cooperative group.( Negotiable).

TThis target savings account is to meet the future needs of our clients.

1. Flexible savings account, minimum 1000 naira daily.
2. Saving up to 60,000 in three months qualifies for rollover interest.
3. Qualify for a maximum loan facility of 200% of the savings balance.
4. Account balance of 250,000 and above at the end of 8 months attracts SME startup support of 40% of the total sum match up loan.