This product enables people meet urgent
personal financial obligations such as
rents, school fees, vector expenses ,
medical bills as well as insurance loans
Who qualifies for this class of loan?
-
Salary
farmers whose salary accounts
must be domiciled with the bank
-
Customer
whose salary account are not domiciled
in the bank must have their salary accounts moved to us must be confirmed staff
-
Salary
account must have ran for at least 6 months
What
security is required for this loans
-
Salary
domicilation
-
Personal gurantee /employer status inquiry from the current place of work
-
Post
dated cheques
WHEN DOES THE LOAN TERMINATE
The
loan has a mzximum tenor of 12 months
repayment shall be mothly and will be
into the salary account of the
obligor
WHAT ARE THE CHECKLIST
FOR SALARY ACCOUNT HOLDERS?
This means that before the loan can be granted, the following must be obtained
Complete tran application from (To be
completed by the applicant)
-
Duly excuted letter of slary domicilation
-
Evidence
of annual congrensation package
-
Attach 6 months
pay slip and six (6) month statement of account
-
Excecuted
letter of authority to the bank to debit customers account for the loan
month repayments
-
Duly executed offer letter
What does the branch enjoy
-
Multiple income streams float
income, fees and conton accounts
-
Opportunity
to sell other products of the bank
-
Account
conversion of aspiring customer and increase
in customer base
Conditions precedent to drawdown
-
Account officer /branch manger must have confirmed applicants place of
resident /employment
-
Customer
has accepted letter of offer
-
Ensure
that finality has been approved by authorized person(s)
-
Ensure
that domiciliation of salary is
in place /postal dated cheques
covering the terror of facility (as
applicable )
-
Duly
executed loan agreement
-
Receipt
of employer status enquiry form, letter of introduction
-
Receipt
of dilly executed guarantors from
supported with notanzed statement of net worth
WHAT
STEPS DO I TAKE IF MY CUSTOMER REQUEST FOR
THIS LOAN PRODUCT?
Upon enqury by customer, account officer holds
brief (PRELIMARY ) LAN INERVIEW who the
customer to ascertain
1.
Whether customer is self employed
or in paid employment
2.
Source
and repayment capacity
3.
Purpose of the personal loan
4.
Customer obtains
current account opening
package (if not already in account with enterprise
bank) and application form
5.
Customer
submits completed item given in together
with 6 months statement of accunt
and pay slip (only for new customers under slary funded scheme)_
6.
Upon completion of the account opening process for
new customers only ) the account officer
completes the credit scoring /rating
7.
Where
the outcome of the credit scoring is goods
approval of granted by authorized
person under stipulatal condition
8.
Upon approval, an offer letter which status
conditions precedent as stuted
on the approved product paper (including salary domiciliation) is used
9.
Account
officer /branch manger verifies the customer employment status
10. Customer meets
all conditions precedent to drawn down
11. Presult the
package again to the authorized signatory for disbursement
authorization
12. The bank
disburses facility to the customer by
crediting his account
13. At end of
the month reduce
dedication are made and lodged
into the facility account the reduce
the outstanding until facility is fully
liquidated
Conclusion
This report deals mainly on what I do in my student industrial work experience
scheme (SIWES) this
report is what I could be able to
achieve whin my six month stay in the enterprise bank ltd . it also make me to
understand the course I am studying and versatility of the course
The program
should by recommended to all
universities student because his
program expose them to what labour
market is likely to look after graduation
and student should take his programme serious because what they achieve there
exposes their ability, knowledge,
skills and comportment
This scheme is
very interesting and educative thought tedious and stressed but human
beings especially student must he
stretched and pass many difficulties before they achieve their goals
(success) there is one popular
adage that say nothing good comes easy , his scheme is practical examples of the adage because enormous problems are encountered during this period