IPPIS loan is another loan programme in Nigeria that is given to people from financial institutions, the loan is only offered to people who are registered with the IPPIS payment system.
The process to apply for the IPPIS Loan in Nigeria is not a difficult one, you just need the guide to do that well.
Before you think of applying for the IPPIS Loan, you must be a federal government civil servant at any level or grade.
The IPPIS Loan is currently one of the sought-after loan schemes in Nigeria and it has to do with the financial institution attached to the IPPIS system.
Before we talk about how to apply for the IPPIS in Nigeria, let’s talk about what IPPIS is all about.
What is IPPIS?
The IPPIS represents Integrated Payroll and Personnel Information System and was launched by the Federal administration of Nigeria to assist with monitoring the monetary inflow of salaries in the government agencies and parastatal with appropriate remittance and deductions of third-party payments.
IPPIS Loan Application Eligibility Requirement
To apply for the IPPIS loan in Nigeria, you have to meet some requirements in order to be considered for the loan programme.
The IPPIS Loan has no long list of requirements, the only basic requirement is that only government workers are allowed to apply for the loan.
This means you have to be a worker in any government departments, agencies, or ministries to be able to apply for the Integrated Payroll and Personnel Information System (IPPIS) as the system allows government pay to your account.
Before talking about the application process, it is important that you know the requirements before we start.
Requirements to apply for the IPPIS Loan?
As we said earlier, to apply for the IPPIS Loan in Nigeria you must meet some requirements and they are listed below:
- Your IPPIS number
- Valid National ID card
- Bank statement of account
- Work ID card
- Salary Payslip
- Employment confirmation letter or Deployment Letter
- Bank Verification Number (BVN)
How to Apply for IPPIS Loan in Nigeria?
The IPPIS loan is much easier when compared to the traditional bank loan system with so many requirements to be met. You don’t need lots of documents or collateral to apply for this loan programme.
Applying for the IPPIS Loan in Nigeria is easy as long as you follow the right guide we are about to show you.
The loan application is done online and with the help of the technologies made available by financial institutions it is easier to apply and get funded within a day (24 hours).
Follow the steps below to get started:
- First, find a website that allows IPPIS Loan application
- You can make use of Yescash, the website allows IPPIS
- Visit the website using this link and then register
- Fill in the info asked (IPPIS number & Phone number)
- And then apply
We are sure you have lots of questions to ask, so we will answer some of the burning questions.
How much can I apply for with IPPIS Loan?
The rate or amount you can apply for with the IPPIS loan in Nigeria depends on certain factors such as your credit score, salary, and trust flow.
The cap to the IPPIS Loan is 70% of your monthly salary, meaning you cannot apply for an amount that is more than 70% of your salary.
Paying early will also boost your loan credit history for more consistent loan offers in the future, you must remember this.
It is said that the higher your credit score is the faster and higher the loan amount you can apply for, you have to maintain a good record of loan repayment.
Care to apply for more instant loans?
We do know that tight spot happens and when they do, one must always look for a solution and one of the solutions is taking loans.
Here is a list of loans you can apply for to prevent this kind of tight spots:
EaseMoni Loan – This loan is for people who are in need of an instant loan, you have to apply through the app with fewer requirements and documentation needed.
KashKash Loan – Just like the one above this loan is an instant one, it requires less documentation and requirements. You can apply for the loan in the app directly. It is very easy and smooth.
If you are a salary earner in Nigeria, you can apply for a loan using this list of loans for salary earners in Nigeria easily, you can compare between them to see the best one for you.