ecobank loan code

Ecobank Nigeria Loan Code and How To Apply

Ecobank has various loan facilities for Salary account earners, small and medium scale business owners, and business moguls.

However, this article will point towards salary earners and self-employed more as they make the larger part of Nigeria. Whatever the need for emergency money, Ecobank can make happen but each loan type comes with its requirement.

Depending on the loan you qualified for, you will be able to access ecobank loan without presenting a collateral. Some loan types also can be gotten via ussd code and email.

The loan comes in different phases, some will need to be repaid back within 30 days, some for about 12 months or more and long term loans could get up to 10 years tenor.

To get a loan in Nigerian bank including ecobank, the basic requirements are valid ID card, BVN and evidence that you are a salaried worker or self employed individual.

Below are the Ecobank loans you can access and how to apply


1. Ecobank Cash Backed Loan

Ecobank cash backed loan is a facility that is given to Ecobank customers by virtue of the deposit they keep with the bank. This type of loan needs to be earned, therefore you can expect the loan amount to vary depending on the attractiveness of the deposit.

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Non-ecobank customers can not access this type of loan. Cash Backed Loan is pre-approved with a low-interest rate that can help you access your cash without liquidating your savings.

Although the loan does not need security or collateral, you will be indirectly using your own savings as collateral for the debit. This can be good for an organization or company that needs to display a healthy financial standing to their employers. Cash backed loan tenor is up to 36 months.

To apply for the loan, ecobank customers will need to visit any ecobank branches near them. Expect the ecobank customer care representatives to advise accordingly.

2. Ecobank Mortgage Loan

Are you tired of paying for rent or need to change your home? You can depend on Ecobank to help out. A mortgage loan is a type of loan given from a bank to a customer to purchase a property.

Customers should understand that a mortgage loan comes with collateral. The collateral is the home itself, if the customer fails to make payments agreed with the bank, ecobank in this case can claim the home, sell, and recover the loan amount.

To apply for an Ecobank mortgage loan, visit the bank and talk to a bank officer. They will be more than glad to help out provided you qualify. The repayment period is up to ten years.

3. PayDay Loan / Advance Facility By Ecobank

Sometimes, it can get very annoying when you suddenly face with an unexpected need for money and you think there is no way out of it.

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As a salary income earner, you can get 50% of your net salary less any existing loan if there is any. This could be used to meet up the children’s school fees, home improvement, and other important things that may crop up.

This is also known as Salary Advance or payday loan, a 30-day overdraft facility that offers employees of approved organizations access to up to 40% of their net monthly salary.

To get started, visit any Ecobank Branch around you.

4. Auto Loan / Asset Acquisition

Do you have a business and you feel there is a need to change or get new machinery such as a generator or vehicle to improve productivity?

Ecobank has got your back. They can make your dreams of purchasing a new vehicle or generator a reality, by offering you up to 90% of the cost of the asset.

Customers should visit any Ecobank within their proximity to apply for vehicle/asset finance or visit, complete the necessary information, and click ‘Apply now‘.

5. Personal Loan

As an employer, we also need to connect to employees by understanding they also need a large sum of money to take care of things that matter to them.

They can be helped using ecobank personal loans. A personal loan is a loan that offers flexible repayment plans and the option to access additional funds after repayment over time.

Customers will need to complete documentation to access the loan facility. Contact the bank via their customer care platforms. Forms will be given to you which you are expected to complete.

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6. Ecobank Xpress Loan Ussd Code

Ecobank Xpress loan allows customers who have an Ecobank Xpress Saving account to access a micro loan as cash. Application for this loan can be accessed using USSD code.

The loan is disbursed directly into the customers’ Xpress Save account which is the qualifying account for the loan.
Ecobank Xpress loan has a minimum cash loan limit of N1,000.00 and a maximum cash loan limit of N15,000.00. Customers who can access this loan may opt for a tenor of 7days, 14 days, or 30 days.

For 7 days, you pay a 10% interest rate fee, 14 days @ 14% Fee and, and 30 days @ 20%.

To apply for ecobank xpress loan, Dial *326# > Select option 7 > select option 2 “Xpress loan” > Select preferred loan amount.

7. Ecobank NYSC Loan

Most corps members always it difficult to settle into their new location due to lack of funds. After camp, there always come various challenges which include accommodation problems and household items.

With your Ecobank NYSC Account, you can apply for the Ecobank NYSC Loan and save yourself some hassles associated with the changing environment. The ecobank NYSC loan is fast and very easy to process.

To apply for Ecobank NYSC Loan, Kindly send an email to stating the purpose of the loan.

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