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Diamond Bank PayDay Loan Application, Eligibility And Requirements

Diamond Bank PayDay Loan Application – A payday loan is a small, short-term unsecured loan, “regardless of whether repayment of loans is linked to a borrower’s payday. It is also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan. Payday advance loans rely on the consumer having previous payroll and employment records.

The Diamond Bank PayDay Loan Application is very easy and accessible. It is a  30 day overdraft facility for salaried individuals. Life happens! The Payday loan (Diamond Salary Advance) enables you to access funds for emergencies that may arise between one payday and the next. It’s a convenient way to raise funds and is quickly accessible. Let’s show you how you can access this loan.

Diamond Bank PayDay Loan Application

Before we talk of how to apply, let’s look at the requirements you must meet up with before applying. They include the following:

  • Salary domiciliation with Diamond Bank for a minimum of 3 Months
  • Completed Retail Lending Application Form
  • Employment letter
  • Confirmation Letter and/or last Promotion Letter
  • Staff ID Card.
  • Other KYC documents.

Also See: Access Bank PayDay Loan Application & Requirements

Benefits Of Diamond PayDay Loan

Here are all you stand to gain with the Diamond payday loan.

Repayment PeriodUp to 30 days/next paydayMaximum Tenure: 12 months (Facility is renewable after 12 months)
PricingCompetitive pricing with no hidden charges.
Loan AmountMinimum Amount: N100,000Maximum Amount: N1,000,000

Obligor Limit: 50% of obligor’s net monthly income

How To Apply

To apply for, here is your guide on what to do.

  1. Log onto the application portal here.
  2. Fill the application form.
  3. When you are done, click on “Apply Now”.

Also See: All Nigerian Banks That Gives Business Loans

Interest Rate

The Diamond Payday Loan interest rate is 3% flat on utilization.

When and How Do I pay back?

The Diamond bank Payday loan is available for up to 30 days or the next payday – whichever comes first. The payment is automatically deducted on either of the due dates mentioned above, since the obligor’s (borrower) salary account is domiciled with the bank.

Contact us on 0700 300 0000, Email enquiries@diamondbank.com or Visit any Diamond Bank branch closest to you to find out more.

Any further question? use the comment box below and we shall attend to them. Thanks.

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