Q. Can I withdraw funds on my Project account before the completion of the agreed tenure?
A. Yes, you can withdraw anytime but interest is paid only if project account has satisfied 50% of agreed tenure.
Q. Can I invest for more than one month in Advans Future account?
A. Yes, you can invest for up to 12 months and with your approval your investment can roll over.
Q: Do I need to save before gaining access to a loan facility?
A : No, we do not mandate our clients to make savings overtime before accessing a loan facility. All we require is a proof of your existing business and activity and other relevant documents in line with your loan request and you can access your funds within the shortest possible time.
Q: Once I am offered a loan without having to have saved with you, would I still be required to compulsorily save?
A: We encourage our clients to run their accounts with us as we also offer standardized financial services that can make the use of a savings or current account very flexible and easy for our clients to manage. These accounts come with ATM Cards, Cheque books and you can also make transfers within and to other accounts you may also have.
Q: How long does it take to process a loan application?
A: The processing time for our loan facility takes a maximum of 7 working days as long as all documents have been submitted, appraised and deemed satisfactory. Disbursement can then be done to the client within the stipulated 7 days.
Q : Do I receive the exact loan amount requested when I applied?
A : Our loan facility appraisal is usually based on your business activity and profitability. Once we have concluded all necessary appraisals, we offer you a facility that places no financial burden on you, so that you can also make profit even while your repayments are ongoing.
Q : I have assets worth 5 Million Naira; will I be able to receive a loan close to 5 Million Naira?
A : We appraise the amount you can assess based on your business activity first, before your assets. Your business activity and profitability will always determine the amount of loan you receive.
Q : What benefits do I receive for diligently making repayments on my first loan cycle?
A : After a successful repayment on a first cycle loan, clients have the opportunity to enjoy extended duration for repayments on a second cycle and can access a higher amount after business activity and profitability has been further appraised.
Q : What are your COT charges on a current account?
A : Our current accounts come with Zero COT! You save every penny on your account.
Q : Can I use my ATM card to make payments even outside the country?
A : Yes, you can use your Advans La Fayette Debit MasterCard anywhere in the world.
Q : Can I transfer funds from my Advans La Fayette account to a commercial bank account?
A : Yes you can. We provide instant interbank transfer services.
Q : Can I make withdrawals from my account in any of your branch locations other than where my account was opened?
A : Yes you can withdraw funds from any of our branches closest to you if you do not have your ATM card to make instant withdrawals.