Are there any other payments asides interest rates?
Yes. Depending on the type of loan, you may be required to pay the following fees and charges;
  • Appraisal Fee (non-refundable) – 1% of approval amount
  • Commitment Fee (non-refundable)– 1% of approval amount
  • Monitoring Fee – 0.0125% of approval amount per quarter (on reducing balance)
  • Insurance charge
  • Legal Fees
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Bank of Industry, Nigeria.

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