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Bank Consumer Credit Application Form

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Bank Consumer Credit Application Form document sample

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									ZENITH
CONSUMER LOAN
APPLICATION FORM
ELIGIBILITY CRITERIA
Facility Type
Maximum Loan Amount
Consumer Loan
Nlmillion per individual
N200, 000.00
25% minimum
Minimum Loan per Individual
Equity Contribution
Tenor
Maximum of 24 months
Principal and Interest Repayment
Products:
Monthly
Thermocool Refrigerators, Freezers,
HaierAirConditions, Television
Sets, DVD Player, Microwaves and
Washing machines, Generators and
Water heaters, Picnic Boxes,
Ceiling Fan and Gas Cookers
i.	Legal ownership of leased assets
ii.	Comprehensive Insurance
Note: Total consumer loan must not exceed 30% ofannual salary
Security
CONSUMER LOAN APPLICATION REQUIREMENTS
Completed Consumer Loan Application Form
Pro-forma Invoice from HPZ
Copy ofemployment ID Card, Drivers License or National ID Card
Letter of Authority to debit Current account for the initial payment, and subsequent
monthly installments until the facility is fully extinguished
Employer's reference (Applicable to employees)
Payslip for the last 6 months
For Zenith Bank current account holder only
CONTACT INFORMATION
To obtain your application form and for further information, feel free to visit
HPZ Sales Outlet located at 307 Adeola Odeku, Victoria Island, Lagos
Orvisit ourwebsite: www.zenithbank.com/downloads.cfm
Email: consumercredits@zenithbank.com
2
CONSUMER LOAN APPLICATION FORM
Please complete this form in capital letters and return to the bank
GENERAL INFORMATION
I I Female O
1. Nameof Applicant:
3.MaritalStatus:Single [^Married I Widowed [^Divorced O Others O
2. Sex: Male
4. Date of Birth:
6.	Areyouin:PaidEmployment I I or Self Employed I I
7.	Last Employer	
9.	Current Employer:
10.	Office Address:...
11.	Office Tel:	
5. Qualifications:
.8. From:
To:
12 Position Held
13. ID Type & No	
15. Residential Address:
14. Annual Gross Salary:
16. Postal Address:
17. Home Phone:
18. GSM No:
19. E-mail:
20. Description of Goods / Invoice No:
21. Total Invoice Price N
22. Loan Amount Applied for N.
	24. Tenor: I T
23. Equity Contribution: N
25.	Banker(s)	
26.	Address	
27.	Account Number
months
I hereby confirm that I am applying for the above consumer loan and certify that all the information
provided by me above is true and complete and I stand to be penalized if found untrue. I am aware
that it is an offence for any person anywhere in Nigeria to induce the delivery of any property or to
purport to settle a lawful obligation by means of a cheque which when presented within a reasonable
time is dishonored on the grounds that no funds or insufficient funds were standing to the credit of
the drawer of the cheque, and for matters connected therewith. I, hereby authorize Zenith Bank Pic
to obtain verification and confirmation of the information provided above in respect of my consumer
loan application. I understand and agree that item(s) purchased from HPZ under this scheme shall
be insured with Zenith General Insurance Company. And I understand and agree that the
completion of this Loan Application Form does not automatically guarantee the processing of my
loan request or approval of a Consumer Loan by Zenith Bank Pic.
Applicant Signature
Date
3
CONSUMER LOAN AGREEMENT FORM
THISLOAN AGREEMENT ismadethe .... dayof
200.. between ZENITH BANK PLC (hereinafter referred to as
"The Lender" which expression shall where the context so admits include its successors in title and assigns) and	
(hereinafter referred to as "The Borrower" which expression shall where the context so admits
include his heirs, executors and administrators, legal personal representatives, successors in title and assigns) ofthe other part.
of
WHEREAS:
i.
The Borrower has applied to the Lender for a Consumer Loan facility in the principal sum of
	for the purposes of financing the purchase of household items from HPZ Limited.
The Lender has agreed to grant to the Borrower a consumer loan facility in the amount stated above upon the terms
and conditions herein contained.
li.
NOWTHEREFORE IT IS AGREEDas follows:
1.
FACILITY: The Lender hereby grants to the Borrower upon the terms and subject to the conditions herein contained a
consumer loan facility not exceeding in the aggregate the sum of
be designated the Consumer Loan Facility, which is hereafter referred to as "the Facility" and the Borrower hereby
accepts the Facility from the Lender.
to
2.
PURPOSE: The Borrower shall utilize the Loan for the purpose of financing the purchase of household items from HPZ
Limited.
TENOR: The Consumer Loan Facility shall be for a maximum period of 24 months commencing from the date of first
draw down or upon receipt of funds into the Borrower's account covering the full amount of the facility including
interests.
3.
4.
DRAWINGS: Drawings under the Facility shall be subject to satisfaction by the Borrower of all conditions precedent to
drawdown specified in Clause 9 and must be applied solely forthe purpose stated in (2) above.
INTEREST: The interest rate is 18% per annum. The Bank may review the interest rate and shall inform the Borrower
who shall be deemed to accept the review unless the facility is paid down on the effective date of such review.
SECURITY: In consideration ofthe Loan, the Borrower hereby undertakes not to create or permit to subsist any charge
or lien in favour of a third party on the household items to be purchased with the facility other than a charge in favour of
the Lender.
5.
6.
7.
REPAYMENT: The Borrower shall repay the full amount of the Loan including interests to the Lender on a monthly
basis by way of direct debit to the Borrower's account.
PREPAYMENT AND CANCELLATION: The Borrower may without payment of penalty or any associated costs
prepay the Loan in whole or in part.
LATE PAYMENT: In any case of non-reciept of payment on the due date, the borrower shall pay in the month a default
fee of1% ofthe outstanding loan balance and subsequent month(s) until the due amount(s) is/are paid.
8.
9.
10.
CONDITIONS PRECEDENT TO DRAWDOWN: The Borrower shall satisfy the following conditions before drawdown:
i. Acceptance ofthe offer evidenced by signing and returning the accepted copy of the offer letter,
li. Receipt of Pro-forma Invoice of HPZ Limited from the Borrower
Hi. Receipt of duly completed Loan Application Form incorporating this Consumer Loan Agreement.
Iv. Receipt of an Undertaking from the Borrower irrevocably domiciling his salaries and terminal benefits to his
account with the Lender
v.	Receipt of Letter of Authority to debit Borrower's account for the initial payment and subsequent monthly
installments until the facility is fully repaid.
vii. Receipt of a copy of a legally valid means of identification ofthe Borrower.
vi.	Receipt of an undated letter of consent from the Borrower authorizing the Lender to sell the household items to be
purchased with the facility in the event of default.
11.
OTHER SPECIAL TERMS AND CONDITIONS: The Borrower shall obtain a property insurance to provide cover for
"all risk" on the purchased household items with the interest ofthe Lender noted thereon as the first loss payee.
12.
PRICING: As contained in the Offer Letter
13.
APPLICABLE LAW: This Loan Agreement shall be governed by and construed in accordance with the Laws of the
Federal Republicof Nigeria.
AGREEMENT: This Loan Agreement supersedes any prior agreement, negotiations or representations either oral or
written relating to the subject matter hereof and except as provided herein, may not be amended or modified except by
an instrument duly executed by the parties.
14.
15.
COMMENCEMENT DATE: Shall bethe date of first drawdown on the facility.
IN WITNESS WHEREOF the authorized representatives ofthe Lender and the Borrower have set their hands the day and year first
above written.
SIGNED BYTHE BORROWER
NAME
SIGNATURE:
SIGNED FORANDON BEHALF OFTHE LENDER
in the presence of:
Name:	
Address:	
Signature:	
NAME.
SIGNATURE:
4
CUSTOMER AUTHORITY TO DEBIT CURRENT ACCOUNT
Customer's Address
Date,
To: Zenith Bank Pic
AUTHORITY TO DEBIT CURRENT ACCOUNT
In furtherance of I
operating consumer loan account number
with Zenith Bank Pic. I hereby instruct Zenith Bank Pic accordingly to debit my
current account number.
being:
i. Initial one-off payment of
percent cash value of goods financed N
and credit my consumer loan account and;
H. Subsequently, debit same account for N
being monthly equal and
consecutive installments of principal, interest on principal and other charges and credit
my consumer loan account.
I have given this instruction to Zenith Bank Pic with full knowledge of the implications and probable
consequences of not funding my current account prior to payment of the amount involved.
In consideration of Zenith Bank Pic approving, opening and allowing me to operate the consumer
loan account, I hereby irrevocably undertake and covenant that; (i) shall at all times make funds
available in my current account for the initial one-off payment of
percent cash value of
goods and; (ii) make funds available at least two (2) days before the monthly loan repayment due
date to service my consumer loan account.
The foregoing shall be construed as a continuing instruction and shall not be revoked by me without
prior notification of Zenith Bank Pic.
Yourfaithfully,
Customer's Signature
5
CHECKLIST FOR CONSUMER LOAN APPLICATION (For Bank Use Onlvi
Documents Obtained
Status
Completed Consumer Loan Application Form
1.
Pro forma Invoice from HPZ
2.
Direct Debit Instruction
3.
4.
Copy of employment ID Card, Drivers License
or National ID Card
Employer's reference (Applicable to employees)
5.
6.
Payslip for the last 6 months
Customer Information Verified by:
Name/Signature/Branch
Application Documentation Checked by:
Name & Signature
6
(For Bank Use Only)
CONSUMER LOAN APPROVAL PAGE
We request Credit Committee's approval of a Short Term loan of N	
to enable Applicant purchase household item(s) under the Zenith/HPZ consumer loan scheme.
This request is subject to the following:
Tenor:
Pricing -
Lease Factor:
18%p.a.
Lease Management Fee:
2.0% flat, per annum, payable up-front
Processing Fee:
2.5% flat, per annum, payable up-front
(inclusive of 1.5% insurance fee)
(Months)
Source of Repayment:
Direct Debit of salary or current account of
borrower
Security:
I.	Letter of irrevocable domiciliation of salaries
and final endowments of Applicants to Zenith
Bank.
II.	Letter of Authority to debit current account for
the initial payment and subsequent monthly
installments until the facility is fully
extinguished
*	For Salary Account holder, provide (i) and
(ii) above
*	For Current Account holder, provide
(ii)above only
We hereby recommend the approval of this facility based on the following reasons:
Collateral Support:
Property Insurance to provide cover for "all
risk" on the leased assets, noting the interest
of Zenith Bank as First loss payee.
1. Customer has character and commendable cash flow to service the loan
2.	Security for this facility is considered adequate
3.	Approval will translate to increased income and create opportunities forfuture transactions
Kindly approve.
Reviewed and Recommended by:
Consumer Credit Group
Unit Head/Group Head
Approved by:
General Manager
General Manager
7
| Consumer Credit Group |
Zenith Heights, Plot 84, Ajose Adeogun Street Victoria Island, Lagos.
Tel:01 - 2781102, 2782775 - 7 Fax: 01 - 2700441
Website: www.zenithbank.com/downloads.cfm Email: consumercredits@zenithbank.com

								
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