before you ask
Does Pillar MFB offer loans?
Yes. Pillar MicroFinance Bank offers loans to startups, small businesses and also encourages, supports and works closely with entrepreneurship funding organisations
What is the procedure or requirement for accessing loans?
Establish a business relationship with our bank. Thereafter, demonstrate you have capacity, character, capital, collateral or collateral substitutes and abide by the bank’s loan conditions.
What is Pillar MFB’s interest rate on loan?
Though not stable and determined by a number of market forces, our interest rates are usually between 3.5% and 20% depending on the loan size, tenure and client’s businesses.
Why does Pillar MFB charge 5% on second withdrawal?
The 5% charge only applies to a special savings account (mobile account), This is done to encourage a saving culture and financial discipline of mobile account holders.
Does Pillar MFB finance new businesses?
Yes indeed. Once our existing or prospective clients meets our stipulated loans requirement.