How to Apply for NIRSAL Water Supply Loan: A Step-by-Step Guide
To complete the NIRSAL Water Supply loan application process, follow these steps:
- Access the NIRSAL Portal: Visit www.nirsal.com.ng to start your application.
- Select Your Loan Category: Choose “Household” if you are applying for a loan up to ₦500,000. For businesses, options include SME and AGMESSIS, which require a CAC number.
- Complete the Application Steps:
- Step 1: Enter your BVN number and click “Verify.” Once verified, click “Next.”
- Step 2: Provide your personal details, including title (e.g., Mr., Mrs.), email, phone number, state, state of origin, LGA, and number of dependents. Click “Next” to proceed.
- Step 3: Select the most relevant option from the text and small box provided. This step involves filling out details about the items you intend to purchase with the loan. For example, if you are buying farming equipment, specify the items, units, and their prices. Ensure the total cost does not exceed ₦500,000. For example:
- Items: Farming
- Unit: 2
- Price: ₦200,000.00
For remaining funds:
- Items: Fertilizer
- Unit: 10
- Price: ₦10,000.00
Ensure you correctly calculate the total and keep within the loan limit.
- Step 4: Indicate how you found out about NIRSAL (e.g., friend, Facebook, Twitter, NIRSAL staff). Agree to the terms and conditions by checking the appropriate box. You will then receive a confirmation that your application has been successfully submitted.
- Final Steps: Review your application details and submit. For visual guidance, visit HIKIMATV on YouTube to see the process in action.
FAQs
What documents are required for the NIRSAL Water Supply loan application?
You need your BVN number, personal identification details (e.g., title, email, phone number), and a clear outline of the items and costs associated with your intended purchase.
How long does it take for my application to be processed?
The processing time can vary. Generally, you will receive confirmation of your application’s status soon after submission. Ensure all details are accurately filled to avoid delays.
Can I apply for a loan amount greater than ₦500,000?
No, the “Household” category is limited to loans up to ₦500,000. For larger amounts, explore other categories like SME and AGMESSIS, which may require additional documentation like a CAC number.
What is the maximum repayment period for the loan?
The maximum repayment period for the NIRSAL Water Supply loan is 36 months. Ensure you select a repayment plan that fits within this timeframe and is feasible for your financial situation.
Also Read: NIRSAL’s New Goods Distribution Process for Interest-Free Loans: What You Need to Know
