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