Keystone Bank Consumer Finance provides loans to consumers with stable and sustainable income for the acquisition of various assets for personal use.
These assets include the following:
- Blue chip stocks
- Household items eg Fridges, Gas Cookers, Air Conditioners etc
- Motor Vehicles, Generators etc
Consumer Finance Products available fall under two Categories:
Asset backed facilities
- Keystone Easy Life Scheme
- Shares Acquisition Scheme
Non Asset backed facility
- Keystone Salad (Salary Advance Lending)
Who Is Eligible?
Non Asset backed facility (SALAD)
- Individuals whose salary accounts are domiciled with Keystone Bank.
- Individuals whose salary accounts we are able to win to Keystone Bank.
These individuals will be eligible after the payment of two monthly salaries to the Bank.
Asset backed facilities
- Individuals whose salary accounts are domiciled with Keystone Bank
- Individuals whose salary accounts are not domiciled with Keystone Bank but are willing to transfer their salary accounts to us.
- Self-employed professionals/Business owners.
- Regular income earners
Keystone Bank Easy Life Scheme: Important Features
- Maximum amount to be financed is 80% of the cost of the asset, applicant to provide 20% equity contribution.
- Tenor of 6-48 months proposed depending on the asset type.
- Legal Ownership of asset will reside with the bank until the facility is liquidated.
- Monthly repayment not exceeding 66% of net monthly salary or within 10% of monthly credit turnover for self employed professionals/business owners which should be average of N1m.
- Asset to be insured by the customer through a reputable Insurance company and the bank noted as first loss payee.
Shares Acquisition Scheme: Important Features
- Maximum amount to be financed is 80% of the cost of the asset, applicant to provide 20% equity Cash contribution.
- 100% financing if customer provides blue chip stocks worth 40% in lieu of cash contribution.
- Tenor of 24 months proposed.
- The shares to be purchased will serve as collateral to the bank.
- Acquisition will be through Platinum Capital – our designated stock broker.
Keystone Salad (Salary Advance)
The product offers credit facilities to salary earners in the form of a bridging finance to meet personal soft needs. It comes in 4 variants:
- Variant 1: Up to 50% of the net monthly salary of the customer over a period of 30 days.
- Variant 2: Up to 95% of the net monthly salary of the customer over a period of 90 days.
- Variant 3: Up to 250% of the net monthly salary of the customer over a period of 180 days.
- Variant 4 : Up to 35% of the net annual salary of the customer over a period of 365 days.
The Corporate Finance Desk can be reached at;
1 Keystone Bank Crescent, Victoria Island, Lagos
Tel: 01-448 5742