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Fidelity Bank Payday Loan Requirement and Procedure

Are searching for how to get payday loan in Nigeria? If yes then see the Fidelity Bank Payday Loan requirement and procedure below.

Fidelity Bank Nigeria Plc is one of the  top banks in Nigeria financial sector. It has over 5 million customers and over 250 branches nationwide,

Fidelity Bank Nigeria plc is regarded as a leading bank that has won many awards for excellent banking services. They have been seen aspiring to get more accolades in the media space in recent times.

Fidelity Bank Payday Loan Requirement and Procedure

As part of the Loan-to-deposit push and a heart for customer service in Nigeria, Fidelity Bank rolls out a special Payday loan – only for salary earners.

Fidelity Bank Payday Loan Requirement and procedure

This post will focus on Fidelity Bank Payday loan, the USSD code – *770*08# , the requirements, features, and how salary earners can apply for the payday loan.

Fidelity Bank Payday Loan Requirement and procedure.

What is Fidelity Bank Payday loan all about?
Table of Contents
What is Fidelity Bank Payday loan all about?
Features of Fidelity Bank Payday Loan
Requirements/Criteria to Qualify for Fidelity Bank Payday Loan
How to Apply for Fidelity Bank Payday Loan
How to Apply for Fidelity Bank Salary Loan through the USSD Code – *770*08#
How to Apply for Fidelity Bank Salary Loan through the Mobile Banking App
Fidelity Bank Payday loan is a special loan (can also be called a salary advance) for salary earners only. The loan type offers its subscribers exactly 50% of their salary in loans to be repaid at 30 days or at the end of the month, whichever comes first.

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Features of Fidelity Bank Payday Loan
The Fidelity Bank Payday loan has a few features that makes it different from the ones offered in other banks. Here are the features:

Maximum loan amount is 500,000 Naira
Maximum limit is 50% of net monthly salary
Tenor is 30 days or next pay day (whichever comes first)
Interest rate is 1.95%
Other charges include: management fee – 1% flat, credit life insurance – 0.25%, and extension fee – 0.50%.
Security/collateral is the monthly salary
Access to Fidelity Bank Payday loan is profiled automatically, you do not need to meet anybody.
Requirements/Criteria to Qualify for Fidelity Bank Payday Loan
Here are the things that must be in place on your account to have access to the Fidelity Bank Payday loan:

Any employee from any company is eligible for the Fidelity Bank Payday loan, no company registration required
You must have received at least 3 months salary
You must have a clean credit report
Your salary or wages must be credited regularly monthly/weekly
It is not compulsory that you receive a fixed salary amount. Although the salary must be within a close range.
No minimum salary required
Your account must be a dedicated salary account
If you meet all these criteria and you still do not have access to the Fidelity PayDay loan, don’t panic. It is because the auto-system failed to recognise your account normally. All you need to do is to contact your account officer and ask to be profiled manually.

How to Apply for Fidelity Bank Payday Loan ( step by step)
Applying for Fidelity Bank Payday Loan is simply easy and convenient.

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You can make requests for the loan on any of the bank’s online banking channels i.e. the USSD code, mobile banking app, Fidelity Chatbanking/WhatsApp banking platform, Fidelity Bank’s ChatBot IVY, or the web-based internet banking platform.

However, because the most-used online banking channels in most banks are the USSD code and the mobile banking app, I am going to explain how to apply for the Fidelity Bank Payday loan on those two platforms only.

How to Apply for Fidelity Bank Salary Loan through the USSD Code – *770*08#
The Fidelity Bank Payday loan USSD code is *770*08#. You can only do this through your bank registered line i.e. the line you get your credit and debit alerts on. Here’s a step-by-step guide on how to successfully make a request for Fidelity Payday loan:

Dial *770*08#
Press 1 (Apply for Payday loan)
Your available loan amount will be displayed
Select Proceed
Enter the amount you wish to request
Select Confirm
Agree to the terms and conditions
Enter your PIN
The loan is disbursed immediately.

How to Apply for Fidelity Bank Salary Loan through the Mobile Banking App
The Fidelity Bank mobile banking app is available in iOS and Android versions. Therefore, you need a smartphone to use this method. Here’s a guide on how to apply for Fidelity Payday loan without using the USSD code:

Fidelity Bank Payday Loan Requirement and Procedure.

Launch the Fidelity Bank mobile banking app
Log in
Click the sign at the top left corner of the app
Navigate to Loan and click
Choose loan
Select Request A New Loan
The available amount and terms will be displayed
Enter your PIN

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Conclusion
Please note : Once you key in your PIN here, the Fidelity Bank Payday loan is disbursed immediately.

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