How to get Wema Bank salary advance loan (ROD)

How to get Wema Bank salary advance loan (ROD)

Raphael Orji Raphael Orji August 12, 2019

How to get Wema Bank salary advance loan (ROD)

Wema bank salary advance – Wema bank designed a salary overdraft facility to enable salary earners fill the void on their quest for financial assistance before the payday.

It’s as well called Revolving Overdraft (ROD)

In case need money for any of the following;

• Rent
• School fees
• Hospital bills or any other unforseen financial challenges, Wema bank got your back (Kamkpe)

Requirements for accessing Wema Bank salary advance

• You will have to complete a loan application form

• Get a letter of introduction duly signed by authorized signatory (employer)

• Present an irrevocable letter of salary domiciliation.

• Present a proof of income (Monthly pay slip or statements of account)

• Proof of address, physical verification report with utility bill.

Proof of identity (Staff ID card ideal, however National ID, International Passport or Driver’s license where necessary).

Features and benefits of Wema bank salary advance loan

• Available to existing salary current account customers

• New customers can have access to overdraft as soon as the first salary payment is made.

• You have a Maximum overdraft limit of N250k

• Overdraft to be cleared up monthly and is available for twelve months tenor

• Overdraft may be requested on expiry, subject to request by the customer.

• Zero processing cost

• You can apply from anywhere

• Turn around for disbursement is 48 hours

• No account maintenance charge

• Access to electronic banking products and services.

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How to apply for Wema bank salary advance loan (ROD)

Kindly visit the nearest Wema Bank branch, enquire to see a relationship officer. You may as well see the customer service officer about this loan.

You will be required to put your application in writing, fill other forms as would be made available to you. Provide every documents required. Your loan will be disbursed in 48 hours.

FAQ on Wema Bank salary advance loan

Wema bank quick loan: This refers to a loan Wema bank affords its customers, ranging from salary earners, Small and Medium Enterprises.

Wema Bank lunched the ALAT quick loan.

ALAT loans are accessible to all ALAT customers through the bank’s android and iOS apps.

It has two features;

1. Quick short term loan
2. Virtual dollar card for making payments online internationally.

Wema bank SME loan

Wema bank helps you grow your business, by providing highly competitive financial advisory services for Micro Small and Medium Enterprises (MSME) for managing your working capital , aiding business expansion and increasing yield.

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You may open any of the following accounts; an entrepreneur or Small business with Wema bank.

• Wema Treasure account
• myBusiness account
• Corporate account
• Dom Plus-Business

Wema Bank Current account

The bank offers Personal and Salary Current accounts

Personal Current account is an ideal account for your basic banking needs, it comes with debit card and allows issuance and lodgement of checks.

It can be opened by an individual , as joint account or by registered business.

Features

• Opening balance of N2000

• No minimum operating balance

• Allow cheque withdrawal by self and third party from accounts across Wema bank branches

• Allows cheque withdrawal, clearing by bank on behalf of customers.

• Supports credit facilities

• Unlimited number of withdrawals

• Supports all e-products across channels , debit/credit card, mobile and internet banking.

Salary Current Account

This grants you access to personal loan and revolving overdraft facilitate.

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Features

• Zero account opening amount (First salary would be the opening balance)

• No restriction on number of withdrawal monthly

• Supports use of Wema debit cards for (ATM, POS, mobile and web transactions)

• Personal cheque book, first booklet issued free of charge.

• Easy access to personal loans and overdraft, at a competitive interest rate.

Wema Bank Agric loan

This is a Wema facility granted for

• Agricultural production
• Farm development finance, for improvement of agricultural land
• Agricultural finance lease
• Non fund based facility (Letter of credit)

Conclusion

Wema bank loan code: Kindly be informed that Wema bank does not have any loan enabled on USSD code , you will however be informed about it, if it comes up in the future, while you keep a date with Wema bank salary advance.

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