Financial Inclusion for All
Grow Your Business with Microfinance Built for Lagos
Fast, flexible loans and savings solutions designed for entrepreneurs, traders, and small businesses across Lagos.
Why Lagos Trusts MicroBank
- CBN Licensed & Regulated Fully licensed by the Central Bank of Nigeria, ensuring your deposits and transactions meet national banking standards.
- Same-Day Loan Approvals Get your application reviewed and approved within hours, not weeks—funds disbursed the same business day.
- No Hidden Fees Transparent pricing on every product. What you see is what you pay, with clear breakdowns before you commit.
- Local Branches Across Lagos Walk into any of our 12 branches in Ikeja, Victoria Island, Lekki, Surulere, and beyond for face-to-face support.
- 24/7 Mobile Banking Check balances, transfer funds, and manage loans anytime from our iOS and Android apps or USSD shortcode.
- NDIC Insured Deposits Your savings are protected up to ₦500,000 per depositor by the Nigeria Deposit Insurance Corporation.
Solutions Designed for You
Borrow ₦10,000 to ₦500,000 with flexible repayment terms from 1 to 12 months. Apply online or in-branch and receive funds directly to your account within hours.
Scale your enterprise with loans up to ₦5 million. Tailored for traders, artisans, and SMEs—competitive rates, minimal paperwork, and dedicated relationship managers.
Earn up to 8% annual interest on fixed deposits and target savings. Automated daily, weekly, or monthly deductions help you build wealth steadily and securely.
Your Financial Outlook
Your Financial Future
Account Balance (₦)
-
Conservative ₦180,000 – ₦220,000
Assumes You save ₦5,000 monthly at 5% p.a. with no withdrawals and stable interest rates.
-
Base Case ₦240,000 – ₦300,000
Assumes You save ₦7,000 monthly, earn 6.5% p.a., and reinvest interest quarterly.
-
Growth ₦380,000 – ₦460,000
Assumes You save ₦10,000 monthly, lock funds in an 8% fixed deposit, and add annual bonuses to the principal.
Projections prepared by MicroBank Lagos Analytics, January 2025. Ranges represent 10th–90th percentile outcomes from 1,000 Monte Carlo simulations. These are illustrations only, not investment advice, and actual balances may differ based on contribution consistency, interest-rate changes, and withdrawal behavior.
Our Impact in Numbers
47,000+
Active Customers
₦2.3 Billion
Loans Disbursed (2024)
4 Hours
Average Approval Time
94%
Customer Satisfaction
12
Branches in Lagos
68%
Repeat Borrowers
Success Stories from Our Community
Expanded from a single stall to three locations after securing a ₦300,000 working-capital loan. Now employs five staff and serves over 200 households daily.
Used a ₦150,000 equipment loan to purchase diagnostic tools, doubling monthly revenue and cutting repair turnaround time by half.
Bought two industrial sewing machines with a ₦200,000 loan, enabling her to take on corporate uniform contracts and triple her income in six months.
Scaled from 500 to 2,000 birds with a ₦1.2 million agribusiness loan, now supplying hotels and restaurants across Lagos mainland.
Our Microfinance Products
Voices from Lagos Entrepreneurs
MicroBank gave me my first loan when every other bank said no. Three years later, I own two shops and I'm planning a third.
The mobile app is so simple—I check my balance, transfer money, and even apply for top-ups without visiting a branch.
I was approved in four hours and had the cash the same day. That speed saved my contract when my supplier needed immediate payment.
See Your Growth Potential
Our Assumptions
- You invest the loan in inventory or equipment that turns over every 45 days
- Your gross margin is 35%, typical for retail and light manufacturing in Lagos
- You reinvest profits to compound growth over four cycles per year
Potential Revenue Increase
₦1.8 Million
over 12 months, based on median customer outcomes
Illustration only. Actual returns depend on your industry, market conditions, and business execution. Figures reflect the median performance of similar-sized loans in our 2024 portfolio review.
Common Questions
What documents do I need to apply for a loan?
For loans up to ₦100,000: a valid ID (national ID, driver's license, or international passport), proof of address (utility bill or tenancy agreement), and bank statements for the last three months. For larger amounts, we also require business registration documents and a guarantor's details.
How quickly can I get my loan approved?
Most applications are reviewed within four hours during business days. Once approved, funds are disbursed to your account the same day if submitted before 2 PM, or the next business day for later submissions.
What are your interest rates?
Rates range from 2.5% to 5% per month depending on loan amount, tenure, and your credit profile. We provide a full amortization schedule before you sign, so you know exactly what you'll repay.
Can I repay my loan early without penalties?
Yes. We encourage early repayment and charge no prepayment penalties. You'll only pay interest for the period you actually used the funds.
Do you offer loans to first-time borrowers?
Absolutely. We specialize in serving individuals and businesses building their credit history. Start with a smaller loan, repay on time, and unlock higher limits for future needs.
How do I open a savings account?
Visit any branch with a valid ID and proof of address, or download our mobile app and complete the digital onboarding in under 10 minutes. Minimum opening balance is ₦1,000.
Are my deposits insured?
Yes. All deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC) up to ₦500,000 per depositor, giving you peace of mind.
What happens if I miss a repayment?
We understand that emergencies happen. Contact your relationship manager immediately—we can restructure your schedule or offer a short grace period. Late fees apply after seven days, so early communication is key.
Start Your Journey Today
Join over 47,000 Lagosians who trust MicroBank for fast, transparent, and reliable microfinance. Apply online in minutes, visit any of our 12 branches, or call our team to get started today.