NYSC loans are business loans made available to ex-corp members, corps members, and intending corps members who want to grow and expand their businesses.

In this article, you will learn everything about this loan, the eligibility criteria, and how to apply. Also, we will answer some of the frequently asked questions. Read on.

Overview Of NYSC Loans

The NYSC loan is a loaning scheme made available by the Central Bank of Nigeria to youths who are corps members. This loan is aimed at helping youths support and build their businesses.

This loan can be accessed through the Heritage bank. Also, this loan scheme is in partnership with the Youth Innovative Entrepreneurship Development Programme (YIEDP). A program running with the vision of harnessing the entrepreneurial skills and business ideas of the youths through loans.

As an intending corp member, corp member, or ex-corp member, you can obtain up to three million Naira. Groups of not less than three people can also borrow up to ten million Naira.

Eligibility Criteria For Applying For NYSC Loans

Before you think of applying for the NYSC loan, you must ensure that you are eligible for the loan.

Yes, the NYSC loan is not for everybody. This is because there are criteria for the intending applicants. If you are one of such people, check the requirements below;

  1. You must be about 18 years before applying for this loan. This is because only applicants between 18 and 35 can apply.
  2. Applicants must be serving corps members. This means that before you apply for this loan, you should be a full fledge corp member.
  3. Ex-corp members who want to apply must not be more than five years post-NYSC.
  4. It would be best if you have a good business idea that is well-planned.

Eligible Business Sectors For The NYSC Loan.

The NYSC loan is not made for every field or sector. The fields below are the qualified sectors for the NYSC loans;

  1. Agro-allied
  2. Food Processing
  3. Power & Energy
  4. Film & Photography
  5. Manufacturing
  6. Cottage Industry
  7. Construction Support
  8. Technology (ICT)
  9. Automobile
  10. Education Financing
  11. Information and Communication Technology

Documents Required For The Application Of The NYSC Loan

You do not need collateral to secure the NYSC loan. However, the following documents are essential;

  1. Your tertiary institution certificate. This shows that you are a graduate.
  2. Your NYSC discharge certificate. If you are still a serving corp, you may need to pledge your discharge certificate.
  3. Any other asset that is legal and financed by the other banks.
  4. NYSC state code
  5. NYSC identification card
  6. Two clear passport photograph
  7. A photo showing you in your full attire as a corps member.
  8. Your PPA posting letter
  9. Your BVN
  10. Valid and active ATM card
  11. A letter of undertaking must be written and signed by you
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Important Tips On How To Apply For The NYSC Loan.

With the NYSC loan, you can fund any business idea without collateral. However, there are essential tips you should note while applying for this loan. Check them below;

  1. All qualified members can apply for the NYSC loan through the official portal.
  2. Your NYSC code is needed. You will need to use it to apply for the loan.
  3. You can obtain as much as three million Naira worth of loans as an individual.
  4. A group between three to five members is eligible for loans of ten million.
  5. Applicants are only expected to submit one business idea. This means one business idea, one application.
  6. You can track the progress of your application through the portal.

How To Apply For The NYSC Loan

The NYSC loan is designed to help corp members kick-start their businesses. To apply for  this loan, follow the steps below;

  • Visit the official portal of the NYSC loan.
  • You will see a “register” button. Click on it.
  • A form will be displayed on the screen. Fill out the form.
  • After that, proceed to submit your application.
  • The management team of Heritage Bank will review your application.
  • On approval of the loan, you will be contacted through the details you gave earlier in the form.
  • Then you will be paid. This payment is made to your active bank account.

How much can I borrow from NYSC Loan?

As an eligible individual, you can borrow about three million Naira, while groups of about three to five members can access up to ten million Naira.

Frequently Asked Questions

How can I get a loan from NYSC?

To get a loan from NYSC, you must first be eligible. This means that you must be a corp member or an ex-corp member for not less than five years.

Again, you must have a business idea, and you must provide some necessary documents like an ATM card, passport photograph, discharge certificate, and other documents, just like we explained earlier.

After checking yourself and discovering that you are eligible for the loan, proceed to the official portal and fill out the application form. You will be contacted upon approval, and the money will be paid into your account.

Can I get a loan with my NYSC certificate?

The answer is yes. You can get a loan with your NYSC loan. Different loans are available for corps members, just like the NYSC loans discussed in this article.


NYSC loan is a financial aid specifically made for NYSC members to help them kick start, grow and expand their businesses.

You do not need much to secure this loan, provided you are a corps member, and you have a business or business idea to work on.

We are confident that you know how to apply for this loan. If there is any question we did not answer in some of the frequently asked questions, feel free to ask in the comments section.