Frequently Asked Questions

How much can I qualify for as a salary earner?
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What is the minimum I can borrow from SCL?
You can borrow from 5,000.00 to 5,000,000.00.
What is the minimum amount I can save with SCL?
The minimum is N5,000.00
Do I qualify for SCL loan?

  • Between the ages of 22 to 55 old
  • Have a verifiable source of income
  • Have a functional bank account

What documents am I required to present?

  • A Passport Photograph
  • A valid means of Identification ( International Passport, Driver’s Licence or National ID card)
  • Your 6months up-to-date salary statement of account, to be sent directly from your bank or generated by us
  •  Employee ID Card
  • NUBAN Cheques or Direct Debit Mandate
  • A guarantor

Can I pre-liquidate my outstanding Loan?

Yes, you can pre-liquidate your loan, however charges may apply.

What is the penalty for defaulting on loan repayment?

The default penalty is 1,000 daily for each day of default. If the default exceeds 30days, more stringent measures may be applied, and default would also be reported to the credit bureaus

What is the interest rate on loan?

We apply a risk-based pricing to determine repayments on loans

Can I part/pre liquidate my investment?
Yes, you can liquidate your investment with SCL at any time and you are guaranteed to receive your funds on the same day