There are many reasons to take out a loan. From needing a bigger shop or office space to buying a new device, or simply needing to take care of an emergency, loans come in handy. But not all loans—or loan providers—are the same.

The best loan providers will offer a low interest rate, long repayment terms, no collateral, and little to no paperwork. And like people say, the best loans should leave you alone.

The meaning given to the word “loan” has undergone so much change. Loan processes are going through an absolute disruption and the usual day-to-day interaction between banks and the average customer and his/her needs are re-aligning.

The acceptance and success of banking products and services, especially loans, hinge on the degree to which banks leverage the unique opportunities they have, how well they use the wealth of customer information at their disposal, the extent to which they capitalize on the insights they hold, and the extent to which their strategy, processes and activities revolve around consumer’s everyday life.

Wema Bank Plc which celebrate 76 years of relentless innovation, strongly believes the future of banking lies in thinking ahead of customers’ goals, their ‘next big thing’ and what they should and could do with their money.

Wema Bank Plc is not only staying ahead of the curve with loan products, it is drawing the curve. With its unique solutions ranging from SME female loans to Salary-based loans, car loans to payday loans, among others.

SME Female Loan (A single-digit loan for female business owners)

This collateral-free loan product is designed for female business owners who do phenomenal work. If you need a bigger shop or office space or you need funds to purchase a piece of new equipment and software you need, then this loan is for you.

With no collateral required and an interest rate of eight per cent only, the SME Loan is not only great value for you with up to N1 million, but also a convenient offer with a six months loan tenor.

ALAT Salary-based Loan

So much has changed about the things you do, how you do them, how you live, work and run your businesses, and change is not always convenient. Wema Bank Plc knows this.

Amid change and uncertainties, instant loans, access to credit and other financial support should not be a luxury. As a salary earner, you deserve simple, reliable, hassle-free loans that work.

ALAT by Wema salary-based loan makes it super easy for you and your loved ones to borrow money now and pay later. You can request up to N4,000,000 at two per month and choose a convenient repayment plan.

To get started, open your ALAT, click on the “Loan” icon, click on the “Get a loan” button and apply. If you haven’t downloaded ALAT, download it now.

ALAT by Wema Payday Loans

This is for you if you are in a tight spot and cannot wait for your next salary to come in. It takes only minutes to apply and get approval and it requires no collateral. You do not need paperwork to apply or need to visit the bank either.

You can borrow as much as N500,000 on the ALAT Payday Loan as long as you earn a minimum monthly income of N18,000.

To apply:

Simply download ALAT from the app store for IOS or Play Store for android, install, and sign up.

From menu items, click on “Loan,” and select the Pay Day Loan

Then click on “Apply”.

Wema Bank Quick Loans

The Quick Loan is a short-term facility available for not over 30 days. It is a financing package designed to meet immediate financial needs for persons who have a salary account with Wema Bank and own a tier III account.

Its single-digit interest rate sits at three per cent monthly. You can get up to N100,000. It is quick and easy. You do not need collateral or paper documentation. To apply for the loan, simply dial *945*65# or *945# and select the Quick Loan option. 


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