Bosak Trade Loan (BTL)
Bosak Trade Loan is the flagship loan product of Bosak Microfinance Bank Limited. It is a group loan product. This product is available to members of groups or associations (registered or not registered) involved in trade activities.
The product which encourages a savings culture among our clients ensures loans are repaid weekly along with voluntary savings. The minimum amount that can be availed to an individual is N40,000.00 while the maximum access to this product is N250, 000.00 for a maximum tenor of 180days or 24weeks.
Bosak Asset Finance Loan (BAFL)
BAFL is a loyalty product for direct purchase of income generating assets for qualified members of groups under the BTL scheme.
Bosak Education Loan (BEL)
BEL is a loyalty product designed to assist members of self – help groups currently under the Bosak Trade Loan (BTL) scheme support their child/wards in school. BEL gives access to a loan facility of up to N40,000 with a twelve (12) weeks/three (3) months repayment tenor.
Bosak Salary Loan (BSL)
Bosak Salary Loan (BSL) is a product designed to assist salary earners of governmental agencies and reputable corporate organisations. The objective is to enable salary earning individuals with capacities that before now could not meet up cover urgent financial needs such as school fees, rent etc. The maximum loan obtainable under this product is N1,000,000 or one third of the borrower’s salary (whichever is less) for a repayment tenor of six (6) months. Repayment will be on a monthly basis. This product would be made available to confirmed staff of organisations whose risk profiles are acceptable to the Bank.
Click here to download BSL form (to be completed ahead of submission to the office): BSL Application Form
Download 3rd Party guarantor form (to be completed ahead of submission to the office): 3rd Party Guarantor Form
Bosak Auto Technician Support Loan (BATSL)
Those eligible to access the BATSL are auto technicians (Mechanics, Car Rewire Technician, Spray Painters, Panel Beaters etc) who have a traceable workshop and is a member of a trade association that has been in relationship with Bosak Microfinance Bank Limited for a period not less than 30 days. The product encourages voluntary savings along with repayment of the loan facility granted.
The minimum accessible amount under this product is N40,000.00 while the maximum access is N500,000.00 for a maximum tenor of 360days or 48weeks.
Our Savings Products
Bosak Beta Life Savings
This is a voluntary savings scheme which offers interest to savers. Savers are eligible to interest payable on a quarterly basis. It aims at engendering a consistent savings culture to achieve set goals or to address any unforeseen eventuality.
Bosak Health Insurance Savings
Customers can access quality primary healthcare in hospitals nearest to them for a N6,000 per annum premium with payments made in weekly instalments of N250 only. This savings product also offers the option of secondary healthcare at incredibly subsidized rates open to families of up to six persons.