Zenith Bank, one of Nigeria’s leading financial institutions, offers a wide range of loan services that cater to the needs of both individuals and businesses. Borrowing money from a bank can be a daunting task, but with the advent of technology, it has become more convenient than ever. In this comprehensive guide, we will explore everything you need to know about borrowing money from Zenith Bank, from eligibility criteria to loan types, interest rates, and repayment methods.

About Zenith Bank Loan

Zenith Bank is renowned for its commitment to providing financial solutions to its customers. Among its many services, the bank’s loan facility stands out as a valuable resource for those in need of financial assistance. What makes Zenith Bank’s loan service particularly attractive is the absence of the need for collateral or a guarantor, a feature not commonly found in traditional bank loans. Moreover, the loan application and disbursement processes are incredibly fast, with approved loans being disbursed within minutes.

Types of Loans Offered by Zenith Bank

Zenith Bank offers a diverse range of loan products to cater to various financial needs. These loans are divided into two main categories: personal loans and business loans.

Personal Loans:

  1. Salary Advance: Zenith Bank’s salary advance loan provides up to 60% of your net monthly salary, making it an ideal solution for addressing short-term financial needs.
  2. Personal/Consumer Loans: These loans are designed to finance personal expenses and are available at competitive interest rates.
  3. Education Loan: For parents and guardians seeking short-term funding for tuition fees, Zenith Bank offers an education loan with flexible terms.
  4. Asset Acquisition/Car Loans: Whether you’re looking to purchase a vehicle or household assets, Zenith Bank’s asset acquisition loan can help you finance your needs.
READ ALSO:  12 Instant Bank Loan Without Collateral in Nigeria 2023

Business Loans:

  1. MSME Loans
  2. Overdraft
  3. Creative Industry Financing Initiative
  4. LPO Finance (Local Purchase Order)
  5. Z-woman Business Package
  6. Export Finance Facility
  7. Import Finance Facility
  8. Project Finance
  9. Syndicated Loans
  10. Lease
  11. Receivable Discounting/Invoice Discounting
  12. Bonds and Guarantees
  13. Term Loans

Eligibility for Zenith Bank Loan

To be eligible for a loan from Zenith Bank, you must meet certain criteria:

  1. Age: You must be at least 18 years old.
  2. Active Account: You must have an active account with Zenith Bank.
  3. Source of Income: You should have a source of income with a minimum monthly earning of N10,000.
  4. Good Credit History: Maintaining a good credit history is essential to qualify for a loan from Zenith Bank.

Applying for a Zenith Bank Loan

Zenith Bank offers multiple avenues for loan applications, ensuring convenience for its customers. You can apply for a Zenith Bank loan through the following methods:

  1. USSD Code: Dial *966#, select the “Loan” option, and follow the prompts to provide your personal details, loan amount, and preferred loan tenor. Alternatively, you can dial 96611# for a quick loan.
  2. Zenith Bank Mobile App: Log in to the Zenith Bank app, navigate to “More,” select “Product & Services,” and click on “Request Loan.” Fill in the required details and submit your loan application.
  3. Zenith Bank Website: Visit the official Zenith Bank website and access the loan application portal to apply online.
  4. Zenith Bank Branches: You can also apply for a loan by visiting a Zenith Bank branch. Inquire with the customer agent for the loan application process.

Zenith Bank Loan Interest Rate

The interest rates for Zenith Bank’s various loan types may vary, and they are subject to periodic review based on prevailing market conditions. To determine the current interest rate for your preferred loan type, you can visit the Zenith Bank website or contact the bank directly.

READ ALSO:  Steps to Transfer Money from Branch Wallet to Bank Account

Repayment of Zenith Bank Loan

Repaying your Zenith Bank instant loan is a straightforward process. Ensure that you have sufficient funds in your account to cover the loan repayment on the due date. Zenith Bank will automatically deduct the loan amount from your account, and you will receive a notification (via SMS and/or email) confirming the loan repayment. Once your loan is cleared, you can use the USSD code to borrow money from Zenith Bank for another loan.

Frequently Asked Questions (FAQs) about Zenith Bank Loans

  1. How much can Zenith Bank lend me? The loan amount you can borrow from Zenith Bank depends on the specific loan type you are applying for and your eligibility. Personal loan amounts typically start from N5,000 and go higher.
  2. Does Zenith Bank have a loan app? Yes, Zenith Bank offers a mobile app that allows customers to access loans conveniently.
  3. Does Zenith Bank offer payday loans? Yes, Zenith Bank provides payday loans, also known as personal loans or salary advances. These loans can be accessed by dialing *966*11#.
  4. Can students get loans from Zenith Bank? Yes, students can apply for loans from Zenith Bank as long as they meet the bank’s eligibility criteria and provide the necessary documentation to support their loan application.
  5. How can I borrow N20,000 from Zenith Bank? To borrow N20,000 from Zenith Bank, you can use the Zenith Bank Eazy loan USSD code: *966*11#.
  6. How can I check my Zenith loan eligibility? You can check your Zenith loan eligibility by dialing *966*11#.
  7. What is the code to borrow a loan from Zenith Bank? The code to borrow a loan from Zenith Bank is *966*11#. Dial this code and follow the prompts to apply for a loan.
  8. How can I get a Zenith Bank loan without collateral? Zenith Bank offers loans without the need for collateral through products like Click Credit and salary advances, designed to meet short-term financing needs.
  9. What is the code to check my Zenith Bank loan balance? To check your Zenith Bank loan balance, dial *966*11# and follow the prompts.
READ ALSO:  Obtain upto (N1000000) 1 million Naira Loans without collateral In Nigeria


Zenith Bank offers a comprehensive array of loan products to meet the diverse financial requirements of its customers. Whether you’re an individual seeking a personal loan or a business owner in need of financing, Zenith Bank has a solution for you. With the convenience of the Zenith Bank mobile app and USSD code, applying for a loan has never been easier. Make sure to meet the eligibility criteria, choose the loan type that suits your needs, and be prepared for timely loan repayments. Zenith Bank’s commitment to providing financial support ensures that your borrowing experience is hassle-free and accessible.

Tagged in: