Keystone Bank Loan Customer Care Number Email Contact Address Collateral Review Apply App Download
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Keystone Bank can provide tailored finance to businesses of all sizes.
A full-service commercial Bank with its main headquarters in Nigeria is called Keystone Bank.
The bank has 154 other bank branches located all throughout the nation in addition to its headquarters in Lagos, where it conducts business. In addition, it continues to operate subsidiaries in Sierra Leone and Liberia.
Keystone Bank provides a variety of business banking services, including corporate, SME, and commercial banking.
Funding and types of business loans available through Keystone Bank
Trade Finance
Keystone Bank can offer a variety of trade financing options to importers, exporters, and trading firms in Nigeria. Import and export financing are both covered by the bank’s suite of trade finance solutions. Bank guarantees, standby letters of credit, documentary collections, receivables discounting, and other products are among those available.
Agribusiness
Companies engaged in operations across the agricultural value chain may receive funding from Keystone Bank. Any loan that is provided is crafted to meet your company’s demands. The Central Bank of Nigeria (CBN), which has a number of sector-specific intervention funds available, provides the majority of the lending funds. Through these CBN agriculture programs, Keystone Bank offers loans with a 9% annual percentage rate. These loans often have extended repayment terms in addition to low interest rates.
Distributorship / Dealer Support Scheme
Keystone Bank assists telecom service providers and distributors of cement through this plan. Any loan can assist these companies with their need for working capital. A variety of financial solutions are available for the provision of funds. Overdraft services or bank guarantees, for instance. Your trade capacity, or annual revenue from your business, determines the amount of money you are qualified to borrow. Competitive interest rates are offered.
School Support Scheme
Keystone Bank has created a program via which it offers registered schools specialized financing. These educational facilities include daycare centers, elementary schools, and secondary institutions. We provide competitive loan terms. Tertiary institutions are not permitted to use this facility.
Creative Industry Financing Initiative
The initiative’s beneficiaries are companies in the creative industry. Fashion, ICT, film, music, and other business endeavors are eligible. Keystone Bank is working with the CBN to bring you this initiative. Interest rates are capped at 9% and loans can be advanced for up to 10 years in this location. A loan of up to N500 million is possible.
CBN Healthcare Intervention Fund
The CBN, the top bank in Nigeria, has established a special intervention fund that is exclusively aimed at the healthcare industry. Any company engaged in providing medical treatment to people is eligible for this program. This covers producers, suppliers, and distributors of healthcare products. Prior to February 2021, interest rates are set at 5%; thereafter, they rise to 9%.
Qualifying for a Keystone Bank business loan
Your company must satisfy a number of requirements in order to be eligible for a Keystone Bank business loan. Some of these standards will be applicable regardless of the credit facility in question, while others might only be applicable to certain types of financial instruments.
For instance, Keystone Bank offers solutions that are solely suitable for companies operating in specific economic sectors, such as agriculture. You would not be eligible for this specific credit facility if your business is not engaged in agriculture.
One prerequisite for general loans is having a successful business that brings in a consistent monthly revenue. Your company’s ability to secure financing is also contingent on its credit standing. Although it is not always necessary, having a solid credit history is for individuals looking for loans without collateral when applying for a secured loan.
Additional loan requirements could be:
maintaining corporate registration with the Corporate Affairs Commission (CAC) for a business or company
having a corporate or company bank account
Trading for at least one to three years.
Must have a good credit report from a credit bureau with no delinquent bills or bad debt.
being a regular client of the bank
Business loans and other forms of finance from Keystone Bank are available to anyone.
In other words, your firm needs to be registered with the CAC in order for you to receive business financing.
Unregistered business owners might be allowed to apply for a personal loan and use the money they receive for their company’s needs.
Applying for funding with SukFIn is an additional choice that can provide you with even more financing possibilities
How do I borrow money from my Keystone Bank?
Requirements
- Duly filled and completed application form.
- Domiciliation of Salary and Allowances.
- Evidence of last pay slips.
- Duly filled Employer’s Letter of Undertaking.
- Duly signed Letter of Set-Off/Lien.
- Positive Credit Checks.
- No history of returned cheques.
- Valid means of identification (Inclusive of Employee’s ID)
What is the code for Keystone instant loan?
Put 71110# into your phone’s dial pad.
Comply with the instructions to enter the necessary data, including your Keystone Bank account number, the loan amount, and the repayment duration.
How can I chat Keystone Bank?
From the Play store or App store, download and install the Keystone Mobile App. Additionally, download and install Facebook Messenger or Telegram. Open the mobile app, then select the Oxygen menu item from the landing page. Depending on the option you choose, this immediately navigates you to the telegram or messenger app.
How do I activate my USSD keystone?
On the phone that is registered with Keystone Bank, enter the code *7111*0#. Airtel, MTN, Glo, or 9 Mobile.
Choose Register from the menu.
Keystone Account Number: Enter it.
Type in your birth year.
Make your own special USSD PIN.
Obtain notification of successful activation.
How to apply for a Keystone Bank business loan
You should learn more about the financial services Keystone Bank offers before applying for a business loan with them. You’ll be able to choose the best funding possibilities with the assistance of this research.
Applications for loans can be submitted by phone, email, or in person at a Keystone Bank location.
All applications will be assessed in accordance with Keystone Bank’s lending policies. You must provide information about your company’s financial situation, trading history, and loan purpose for your application to be appropriately evaluated. Keystone Bank will subsequently be able to decide on a loan with the use of any publicly available information.
After loan approval, a letter of offer will be provided.
Any application may require the following basic documents as part of the submission process:
- Completed application form
- Company profile
- Business plan
- Cash flow budget
- Bank statements (12 months)
- Audited financial accounts
- Certificate of Incorporation
- Valid means of identification (driving license, passport, voters card)
- Proof of address
- Details of collateral offered (if any)
Please take note that Keystone Bank may want more or less than what is stated above, depending on the credit facility you apply for.
How long will it take before receiving funds from Keystone Bank?
The credit facility you apply for and the amount of money sought will determine how long it takes for you to get funds. Applications for small, unsecured loans are typically processed and granted promptly.
How long do I have to pay back a Keystone Bank loan?
Periods of payments can be adjustable based on your needs. There are long-term and short-term funds accessible.
How much can I borrow from Keystone Bank?
Generally speaking, the more money you can borrow from the bank, the greater your firm must be. Simply put, this is because larger enterprises are more likely to have more turnover and are hence better equipped to make larger repayments.
What is the interest rate charged on a Keystone Bank loan?
The interest rates Keystone Bank charges are reasonable. The loan product being offered and your company will determine the actual borrowing rate. Having said that, goods with single-digit interest rates are accessible.
Does Keystone Bank require collateral?
Prior to approving the majority (but not all) of borrowing requests, Keystone Bank will require collateral. The loan limit will be considerably less if collateral is not necessary.
The following are examples of acceptable collateral or security:
Federal Government of Nigeria obligations, including Treasury Bills, Eurobonds, and FGN Bonds.
State governments’ or federal government of Nigeria’s agencies’ obligations
Additional instruments of non-government debt
Physical assets, such as real estate
Guarantees from third parties or collateral
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