Here is a step-by-step walk-through on how you can check your NIRSAL COVID-19 loan approval by NIRSAL Microfinance Bank.
How to Check NIRSAL Loan Status
To check your NIRSAL loan approval or access the NIRSAL loan portal, you must have applied for the COVID-19 relief loan for small businesses and individuals when the application was on. If you applied, carefully go through your email address to check if you received an email from NIRSAL Microfinance Bank indicating you have been approved for the loan.
Do not be panic if you could not find the email sent to successful applicants as you can still check by clicking here or copy https://covid19.nmfb.com.ng/ to your browser.
Then select the category you applied for, SME or Households loan. The next stage is to input your Bank Verification Number (BVN).
How to Check NIRSAL Loan Approval With BVN
All applicants are required to verify their accounts by entering their Bank Verification Numbers (BVNs). After inputting your BVN, a window will pop up showing you the amount you were approved for if your application was successful.
The next step is to claim your loan by providing your bank account information in the correct format as specified on the portal.
Please proceed to the final step and read the terms and conditions of the loan you just secured. The name of the director in charge of your payment, his/her details and repayment procedure will be clearly stated.
Please note that 5 percent of the total amount will be deducted from the loan before disbursement and you are expected to pay it back, contrary to popular notion.
Ensure not to default on repayment, make sure repayment is done within the stipulated three-year time frame. Finally, note that since your BVN is linked to all your accounts, if you fail to repay, you will be continually debited monthly until you pay the complete amount.
