Need NYSC loan?
How to Get Quick NYSC Loan
Every year Corps Members from different parts of the country face various financial challenges when they are being deployed to a state far away from home and assigned to a place of primary assignment.
To make things better, Credit Direct Ltd partnered with NYSC through the Skill Acquisition and Entrepreneurial Development (SAED) scheme, to help all serving corps members get quick NYSC loan that will solve recurring dilemma which they may find themselves.
Empower the Corps – Quick NYSC Loans
Empower the corps! Have you heard about this? It is a scheme developed by Credit Direct Ltd, a unique company to cater for the financial needs of all Youth Corps members in Nigeria, a scheme for quick and easy loans.
Corps members can now grab the following 4 loan packages on the official website created by Credit Direct Ltd on www.empowerthecorps.com.ng and www.social.empowerthecorps.com.ng (a valuable social network to all interested corps).
Business Starter Package:
This package is designed to provide seed capital for business startups under the SAED programme e.g Make up business, baking and decoration, soap making business, Hair dressing, Interior decoration, shoes and bags production, tailoring, etc.
This package is designed to assist corps members to buy household items to settle into places of primary assignment or to purchase income generating items without hassles.
Items include generators, DVD players, Microwaves, TV sets, Gas cooker, Washing machines, Freezers etc.
Professional Certification Package:
This package is designed to provide discounted trainings for obtaining various certifications e.g Project Management (CAPM), Professional in Human Resources (PHR), Nigerian Institute of Management etc.
This package is a cash loan to assist in meeting other personal financial obligations not stated in the above packages.
I Guess You Should Know the Interest Rate
It is 3.25% per month on any amount of loan collected and on an allowed maximum payback period of 9 months with no extra charges – affordable and light to repay.
Here Is How It Works
If you apply for a N30,000 loan and choose to pay back from your NYSC monthly allowance for 9 months, this is how your payback each month is calculated: (double click the picture below if need be)
How Fast Can You Get This NYSC Loan?
This is simple. It’s a tested and certain maximum of 24 hours immediately your application request has been reviewed and approved. If you apply today, providing all required documents, you’ll get the loan tomorrow.
What Are The Requirements to Grab Any of the Loan Packages?
Applicant must be a serving corps member and will need 6 documents.
- A clear copy of corps members NYSC Identity card
- The front picture of corps member NYSC account ATM card
- Clear facial photograph
- A picture of the corps member his/her full NYSC regalia
- A signed letter of undertaken by the corps member (this can be found on the ETC website empowerthecorps.com.ng immediately a loan package has been chosen.
- Corps members posting letter.
- Letter of attestation is required of corps member who wants to get a loan above N45,000
What You Should Know
- The maximum amount a corps member can apply for is N45,000 which has been determined by corps members salary.
- To apply for a loan between N46,000 and N100,000 (i.e. the business starter package), corps member will need a letter of Attestation from his/her SAED coordinator.
- To obtain any of these loan packages, corps members need to visit ETC website and also join ETC social network on social.empowerthecorps.com.ng and complete the registration.
- When registering on the ETC website (not the social network now), corps members should make sure all the details that will be provided (email, phone number, first and last name etc.) are the same as the ones submitted to the NYSC when registering for mobilization back in school or when corrections were made in camp.
How to Pay Back the NYSC Loan
A repayment schedule is generated and emailed to the corps member and also updated on the ETC portal. Periodic reminders will be sent to the corps member informing him/her of the due dates for repayments.
Repayments of this NYSC loan can be made through various online channels – Quick teller (search ETC loan), ATM terminals; at all banks using Pay Direct (ask for ETC loan repayment), at designated POS terminals in different branches of Credit Direct Ltd.
For more information, visit www.empowerthecorps.com.ng
What are you waiting for? Go grab a loan package!
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