10, Moshood Abiola way, Challenge. Ibadan
MFB Products

FCMB Mirocfinance Bank is a pro-poor financial institution committed to the social and economic empowerment of low-income households.
E Don Beta:
This loan product is designed to operate on a group (union) methodology. The customer is expected to be in a group of 10 to 30 member and the group is a self-selected group of people who access loans individually, but have group guarantees. E Don Beta Loan is created to help meet the working capital needs of clients that run small businesses.
Features:
- Facility range: N30,000 (minimum) to N200,000 (maximum)
- Methodology: Individual lending but group liability
- Duration: 6 months
- Grace period: 2 weeks
- Repayment frequency: Weekly
- Clients must belong to a group
Benefits:
- No collateral, but group guarantees
- Low income earner have access to funds for business expansion
- Flexible repayment structure
- Professional training on basic financial management, business planning and customer relations
- Low interest rate
- Professional financial advice available
Documentation Required:
- Duly completed application form
- 2 guarantors
- 2 recent passport-size photographs
- Current electricity bill
- A certified copy of valid identification such as a National Driver’s License, or an International passport, or a National ID card, or a Voters Card (original copy to be sighted by Account Officer) or Third party identification.
Savings Product:
Regular Savings Account:
The saving product is very flexible and convenient as it is designed for our customers to make savings on a regular basis. The customer make a weekly contribution to his or her account for a period of time and then can be withdrawn and invested back into the customer business.
Features:
- To offer savings product to low income earners, market women, traders, artisans.
- Account minimum operating balance of N1, 000.
- A rewarding opportunity to save and earn monthly interest on savings.
- Flexible daily, weekly or monthly savings to meet emergency needs.
- Issuance of debit cards to ensure unhindered access to funds
- Incentive to clients with highest savings balances per Region
- Access to our suit of electronic banking offerings i.e. online / real time banking, internet banking, mobile banking and banking via ATM & POS
- Free e-mail transaction notification service.
- SMS alert for all transactions.
- Professional financial advice available for our customers.
Documentation Required:
- Duly completed registration form
- 2 recent passport-size photographs
- Utility bill
- A certified copy of valid identification such as a National Driver’s License, or an International passport, or a National ID card, or a Voters Card (original copy to be sighted by Account Officer)