How to Apply for the PressPayNg Education Loan(EduLOAN)
PressPayNg, in Partnership with FCMB (First City Monument Bank) and Mastercard Foundation is offering a cutting-edge Educational Financing Solution designed to ease and foster prompt payment of school fees by Parents, Guardians and Students in Nigeria.This is a quick, convenient and easy to access education loan with low charges. Applicants are to meet a set of basic requirements.
What This EduLOAN IS NOT
- It is not a business loan
- It is not a personal loans
- It is not disbursed to a personal account
Eligibility Criteria for EduLoan
- Fully onboard the PressPayNg App, get verified and open an account
- No default on any previous loan cycle
- Savings ratio: Minimum of 40% of school fees
- Must have a viable sources of income
- Guarantor valid ID card
- 6 months active Statement of Account
- Academic role model with valid ID card(s) and school ID card(s) for students
- The school fees deadline must be at least 7 working days from your loan application date
Terms for EduLoan
- Minimum Loan Amount of N2000.00 and Maximum Loan Amount of N2,000,000.00
- Loan Tenor of 4 Months
- Very Low Charges
Application and Disbursement Channel: The PressPayNg App
