How to Borrow Money From Heritage Bank Loan

Are you looking to borrow money from Heritage Bank? Discover how you can access loans and credit facilities from one of Nigeria’s leading financial institutions. In this comprehensive guide, we’ll go through the process of obtaining the funds you need to pursue personal projects, invest in your business, or manage unforeseen expenses. You will learn about the various loan options, eligibility criteria, and step into the world of financial growth with Heritage Bank by your side.

Types Of Heritage Bank Loans

Cowry (Personal) Loan

Cowry (Personal) Loan, a remarkable financial offering, caters to individuals between the ages of 22 and 55, empowering them with a pathway to achieve their dreams and aspirations. This flexible loan allows borrowers to access up to 50% of their monthly take-home income, subject to a generous limit of N3 million.

With a comfortable maximum tenor of 12 months, borrowers can enjoy the convenience of equal monthly repayments encompassing both principal and interest, ensuring a seamless and predictable financial journey.

However, responsible borrowing is paramount, and in case of late repayment, a flat fee of 1% per month (over the approved lending rate) will apply to any outstanding unpaid obligations. Nonetheless, the process is designed to be transparent, without recourse to the borrower, guaranteeing a fair and equitable approach.

As an added advantage, salary domiciliation with Heritage Bank brings with it favorable interest rates, making the Cowry (Personal) Loan an even more appealing choice. Borrowers can bask in the convenience of salary domiciliation, ensuring a smooth and efficient repayment process.

Cowry (Personal) Loan Interest Rates

The interest rate of Cowry (Personal) Loan is a competitive 2.5% per month. This means that if you borrow money through this loan, you will be charged an interest rate of 2.5% on the outstanding loan amount each month

How To Apply For Cowry (Personal) Loan

  1. Visit the Heritage Bank website at
  2. Download the Consumer Loan Application Form.
  3. Fill out the form with accurate and complete information. Make sure to provide all the required details, including personal information, employment details, and loan amount requested.
  4. Attach any necessary supporting documents, such as proof of identification, proof of income, and bank statements.
  5. Submit the filled application form and supporting documents to the nearest Heritage Bank branch or as per the instructions provided on the application form.

Salary Advance Loan

The Heritage Salary Advance Loan is a financial product offered by Heritage Bank that provides quick access to funds to bridge short-term financial gaps. The facility amount is determined based on 50% of the applicant’s net monthly salary, with a maximum single obligor limit of N500,000. The loan’s tenor is set at 30 days, aligned with the borrower’s upcoming payday, making it a short-term borrowing option.

Repayment for the Heritage Salary Advance Loan is structured as a monthly rental deducted from the borrower’s salary domiciliation, ensuring a convenient and hassle-free repayment process. The loan’s security is anchored on salary domiciliation, which means the borrower’s salary must be regularly deposited into a Heritage Bank account.

To be eligible for this loan, applicants must meet specific criteria. Their salary must be domiciled with Heritage Bank, indicating a strong financial relationship with the bank. Additionally, applicants must be in paid employment and have been working for their current employer for at least six months, and they should hold a confirmed staff status. These requirements demonstrate stability in the workforce and ensure a smooth loan approval process.

How To Apply For The Salary Advance Loan

  1. Click on the link provided:
  2. Download the Consumer Loan Application Form from the link.
  3. Open the downloaded form on your computer or mobile device.
  4. Fill out the application form with accurate and complete information. Provide all the necessary details, including personal information, employment details, loan amount requested, and any other required information.

Auto Loan

Heritage Bank Auto Loan is a financing option designed specifically for individuals who want to buy a car. With this loan, you can enjoy discounted pricing on the vehicle you choose. The bank also provides free tracking and vehicle registration services, and your car comes with a manufacturer’s warranty for added peace of mind. The loan amount you can get is up to 33.3% of your monthly income, with a maximum limit of N10 million.

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To be eligible, you need to have your salary paid into a Heritage Bank account for at least three months. The maximum repayment period is 48 months, and you can pay off the loan early without any penalty. To ensure additional security, the bank requires an irrevocable letter stating that any terminal benefits you may receive will be paid to the bank in case of default.

How To Apply For Auto Loan

  • Click on the provided link: Auto Loan Application Form.
  • This link will direct you to the official Heritage Bank website, where you can access the Consumer Loan Application Form.
  • Once on the webpage, locate the appropriate button or link to download the application form.
  • After downloading the form, open it using a PDF reader or compatible software on your device.
  • Carefully and accurately complete all the required fields in the application form.

Agric Business Loan

Heritage Bank is dedicated to promoting and supporting the agricultural sector through their Agric Business Loan offerings. These loans are designed to help farmers and agribusinesses access the funds they need to grow and succeed in the agricultural industry. Heritage Bank provides several types of Agric Business Loans, each tailored to different aspects of agriculture:

  • Anchor Borrowers Program: This loan is for small-scale farmers who need financial support, inputs, and technical help to improve their farming and income.
  • Commercial Agriculture Credit Scheme: This loan is for larger agricultural businesses that want to expand and modernize their operations.
  • Maize Aggregation Scheme (MAS): This loan is specifically for maize farmers, helping them with financing for buying inputs, producing maize, and selling their crops.
  • Micro Small and Medium Enterprises Development Fund (MSMEDF): This loan is for small and medium-sized agribusinesses, offering affordable financial assistance to help them grow.
  • Paddy Aggregator Scheme (PAS): This loan is for rice farmers and aggregators, supporting them in gathering and selling rice, adding value to their products.
  • Real Sector Support Facility: This loan is for agribusinesses involved in processing, manufacturing, and other value chain activities, aiming to enhance their competitiveness and capacity.

Required document for Access to Agric lending

  • Borrower’s request letter.
  • Board resolution authorizing the loan.
  • Letter granting authority to conduct credit searches on the Company and Directors, and debit the account accordingly.
  • Letter allowing the search on the pledged property as collateral and debit the account.
  • Company Incorporation Documents and Profile.
  • Business Plan/Feasibility Report.
  • Projected cash flow analysis for the next 12 months or more (depending on the loan tenor).
  • Statements of Accounts (Corporate/Personal) for at least 6 months.
  • Pro-forma Invoices (for purchases).
  • Historical Cash flow for the last twelve months.
  • Valuation Reports (to be completed by the Bank’s Appointed Valuer).
  • Bill of Quantity.
  • Letter of irrevocable domiciliation of sales proceeds.
  • Audited accounts for the past 3 years or Management Account, if applicable.
  • Relevant Permits/Licenses/Approvals, if required.
  • Verifiable offtake Orders/Contracts or Arrangements/Commitments.
  • Environmental Impact Assessment (“EIA”) Report, if applicable.
  • Copies of executed warehouse arrangements with acceptable collateral managers for structured trade transactions.
  • Farm/Project Visitation Report and Photographs.
  • Security/Collateral documents.
  • Any other document(s) that HB Plc or the fund provider may need.

How To Apply For The Agric Loan

To begin the application process for the Agric Loan from Heritage Bank, kindly follow these straightforward steps:

  • Click on the provided link: Agric Loan Application Form.
  • This link will direct you to the official Heritage Bank website, where you can access the Consumer Loan Application Form.
  • Once on the webpage, locate the appropriate button or link to download the application form.
  • After downloading the form, open it using a PDF reader or compatible software on your device.
  • Carefully and accurately complete all the required fields in the application form.

Frequently Asked Questions

Is Heritage Bank a local bank?

Yes, Heritage Bank is a local bank in Nigeria. It is a Nigerian financial institution that operates within the country’s banking industry.

Does Heritage Bank offer loan repayment flexibility?

Yes, Heritage Bank may offer loan repayment flexibility depending on the loan type and the applicant’s financial situation.

Can self-employed individuals apply for loans from Heritage Bank?

Yes, self-employed individuals can apply for loans from Heritage Bank. However, specific loan products may have additional requirements for self-employed applicants, such as providing audited financial reports, cash flow projections, and other relevant business documents.

Can I apply for multiple loans from Heritage Bank simultaneously?

While it is possible to apply for multiple loans from Heritage Bank, the approval of each loan application is subject to the bank’s assessment of the applicant’s creditworthiness and repayment capacity.

Is Heritage Bank still existing in Nigeria?

Yes, Heritage Bank is still operating in Nigeria. Established in 2012, Heritage Bank is a reputable Nigerian financial institution that offers a range of banking services, including loans, savings, and other financial products, to individuals and businesses across the country.


Heritage Bank offers a diverse range of loan options to cater to various financial needs. Whether you’re seeking personal loans, auto loans, or agricultural business loans, Heritage Bank has flexible and accessible solutions. By following the provided links and completing the application forms, you can take advantage of competitive interest rates and favorable repayment terms. Trust Heritage Bank to support your financial goals and aspirations.