How to apply for Heritage Bank salary advance, personal loan and Auto loan

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Heritage Bank has played a crucial role in expanding the financing options available to MSMEs by making value-added products accessible to these companies. The bank offers various loan packages, such as Auto Loan, Salary Advance, Cowry Loan, and NYSC Business Loan, in collaboration with the bank of industry and the federal government.

The financial institution ensures that you have the means to continue making progress, regardless of your needs or aspirations.

The available Loan products include:

Auto Loan Advance salary
Cowry credit
NYSC Enterprise Loan

Also see: Heritage bank USSD code: How to Check Account Balance, Transfer Money, and Purchase Airtime/Recharge Cards

1. Auto Loan

This credit facility is for the purchase of new vehicles from CIG Motors Limited by employees of reputable organizations (manufacturers of GAC branded vehicle).

The Loan Amount is 33.3% of Monthly Net Income, with a Limit of N10 Million per Obligor.

The annual interest rate is 24 percent (subject to change in market realities). The collateral for this type of loan is a minimum of 10 percent of the amount being financed, along with Credit life insurance of 0.5 percent of the amount being financed and Insurance of 3.5 percent of the annual asset cost.

The borrower’s salary account must be domiciled at a heritage bank with a minimum 3-month relationship and a maximum loan term of 48 months. Manufacturer’s warranty must be in effect (provided by CIG)

With a 1 percent flat Management fee and a 1 percent flat Commitment fee, the auto loan from Heritage Bank offers excellent discounted vehicle pricing, free vehicle tracking, and free vehicle registration, along with 1 percent flat Management and Commitment fees. You must pay (N4,000) for a CRMS search during the loan process.


As a creditworthy employee, a Heritage Bank salary advance affords you low-interest, low-risk financing. Facility Amount of fifty percent of net monthly salary and N500,000 maximum per borrower

This product’s loan term is 30 days, contingent on the next payday. Before you can qualify for this type of loan through Heritage Bank, you must be employed in either the private or public sector.


1.The salary of the applicant must be domiciled with Heritage Bank.
Applicants in paid employment must have been with their current employer for a minimum of six months and be confirmed staff.


The historic bank The Cowry personal loan is designed for bank customers who are confirmed employees at their place of employment. The loan package is available to individuals between the ages of 22 and 55, with eligibility determined by their monthly income up to a maximum of N3 million.

The loan facility has a Maximum tenor of 12 months, with equal monthly repayments of principal and interest, and an applicable interest rate of 2.5% per month, with a late repayment fee of 1% per month (above the approved lending rate) applicable on outstanding unpaid obligations without recourse to the borrower.

To qualify for a personal loan from Heritage Bank, the borrower must be an employee whose salary is domiciled with Heritage Bank, and in the event of default, gratuity/severance/termination benefits must be paid to the bank.

Heritage bank nysc loan

The Central Bank of Nigeria (CBN) has adopted Heritage Bank in recognition of the bank’s commitment to SME and Youth development.

Launched on October 5, 2015, the Graduate Entrepreneurship Fund (GEF) is a special N2 billion empowerment programme for serving members of the National Youth Service Corps (NYSC). This GEF program is a collaboration between the Bank of Industry and the National Youth Service Corps (NYSC),

The program aims to unleash the latent entrepreneurial spirit of the teeming youth population by providing timely and affordable loans for the implementation of their business ideas. This further provides a sustainable mechanism to stimulate employment, contribute to the non-oil GDP of the nation, and address the issue of youth unrest.

Under this program, the following categories of youth (aged 18 to 35) are eligible:

Serving youth corps volunteers
2. Non-NYSC Volunteers (not more than 5 years post NYSC)

Below is a list of eligible business sectors.

1. Agro – Allied
2. Food Processing / Preserving 3. Crafts
4. Manufacturing / Small Business Administration 5. Information & Communication Technology (ICT)
6. Construction Assistance 7. Energy & Power
Education and Financial Participation
9. Photography and Film 10. Automobile 11. Other

The following information applies to all eligible youth:

1.eligible youth can apply for the loan via this portal at using their NYSC State Code.

Applications may be submitted individually or as a group (of 3-5 applicants with similar business interest)

A single applicant may access a maximum of N3 million, while group projects jointly owned by 3-5 qualified beneficiaries may access a maximum of N10 million.

Applicants can also track the status of their application through the same portal.

5.Security: Graduate entrepreneurs will use their tertiary institution(s) certificate(s) and their National Youth Service Corps (NYSC) discharge certificate. Members of the National Youth Service Corps will pledge their NYSC discharge certificate and tertiary institution(s) certificates (s). In addition, legal ownership of assets financed by the Bank and third-party guarantors will be required from all entrepreneurs as additional collateral.

How to submit an application to the Heritage bank Loan

To apply for a heritage bank loan package, please visit any of the bank’s business offices and request your desired credit facility.

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