How To Apply For NYSC Business Loan 2023 from CBN, Requirements & Eligibility
This post is all about How To Apply For NYSC Business Loan 2023 from CBN. Are you a national youth service corps member? Are you an entrepreneurial nysc member, and you are looking for a loan to expand or start up your business? If yes, then I am more than happy to tell you that you are on the right blog! There is absolutely no need to search anywhere else again.
How To Apply For NYSC Business Loan 2023 from CBN, Requirements & Eligibility
The National Youth Service Corps (NYSC) has reaffirmed its dedication to collaborating with various financial institutions in order to offer start-up loans to corps members who are interested in becoming business owners.
This is an opportunity from the CBN with the aim of helping youths to apply for loans in Nigeria to start up a business. The loan is been paid through Heritage Bank, in partnership with Youth Innovative Entrepreneurship Development Programme. (YIEDP).
Now we will show you more options and loan opportunities you are entitled to by the virtue of been a corps member.
You might be wondering how can I access the nysc loan? Well, it’s simple if you read through this article carefully
To provide financial support to Nigerian youths with great entrepreneurial ideas while serving the nation.
Can I get nysc loan without going to the bank?
Requirement for NYSC Loan
- You must be a serving corps member
- Must have a viable business idea
- Your NYSC ID card, State Code and Call up Number (very important)
- Must have received monthly allowance to confirm your presence in the service
- NYSC Certificate – If applicable
- SAED Attestation Form – if applicable
- Primary Place of Assignment (PPS) letter – if applicable
- Letter of undertaking by a recognized NYSC staff– if applicable
- One passport photograph with nysc crested vest.
Eligibility Criteria To Obtain NYSC Loan
In order to qualify for the NYSC loan, the following must apply to you.
- Only applicants between the ages of 18 and 35 can apply.
- Applicants must be serving corps members
- Ex-corp members not more than five years of post-NYSC can also apply for the loan.
- Present and have a business idea.
Eligible Business Sectors
The loans are available to specific business sectors. The following listed fields are the qualified business sectors for the NYSC loan.
- Agro-allied
- Food Processing
- Power & Energy
- Film & Photography
- Manufacturing
- Cottage Industry
- Construction Support
- Technology (ICT)
- Automobile
- Education Financing
- Information and Communication Technology
- and other fields
How to Apply for NYSC Loan with NYSC Loan USSD Code
There are ways of applying for nysc loan, they include;
- How to apply for Loan using USSD Code – Offline with USSD Code:
Offline is the use of Bank USSD code to access loan from your nysc monthly allowance bank. This requires no requirement to access this loan, but the loan must be collected within the service year. This loan amount ranges from 1,000 to 50,000 Naira only.
For example
- Access bank Nysc Loan Code is *901*11#
- Zenith Bank NYSC Loan Code is *966#
- UBA Bank NYSC Loan Code is *919*28#
- Keystone Bank NYSC Loan Code
- Union Bank NYSC Loan Code is *826*41#
- GTB Bank NYSC Loan Code is *737*51*51#
- First Bank NYSC Loan Code is *894*11#
- Walk into the bank – Online NYSC loan
This requires you to go to the bank with valid documents listed above and your business proposal. The tenure of the loan is more than a year and the loan ranges from 100,000 and above.
Below are the full list of banks for nysc loan
- Access Bank Plc
- Access Diamond Bank Plc
- Citibank Nigeria Limited
- Ecobank Nigeria Plc
- Fidelity Bank Plc
- First Bank Nigeria
- First City Monument Bank Plc
- Guaranty Trust Bank Plc
- Heritage Banking Company Ltd.
- Keystone Bank
- Polaris Bank
- Providus Bank
- Stanbic IBTC Bank Ltd.
- Standard Chartered Bank Nigeria Ltd.
- Sterling Bank Plc
- SunTrust Bank, Nigeria Limited
- Union Bank of Nigeria Plc
- United Bank For Africa Plc
- Unity Bank Plc
- Wema Bank Plc
- Zenith Bank Plc
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