Savings Account
Free /mo
- ✓ No minimum balance
- ✓ 4% annual interest
- ✓ Free withdrawals
- ✓ USSD & app access
- ✓ SMS alerts
Banking for Everyone
Grow your business with microfinance built for Lagos
Fast loans, secure savings, and financial guidance for traders, artisans, and small business owners across Lagos communities.
Why Lagos Trusts MicroBank
- Licensed by CBN Fully regulated by the Central Bank of Nigeria with deposit insurance protection
- Community First Founded and operated by Lagosians who understand local business needs
- No Hidden Fees Transparent pricing with all costs clearly explained upfront
- Fast Approval Most loan applications reviewed within 24 hours
- Mobile Access Bank anytime, anywhere with our USSD and smartphone apps
- Financial Education Free workshops and resources to help you manage money better
Banking That Works for You
Microloans from ₦10,000
Quick access to working capital for inventory, equipment, or emergency needs. Flexible repayment terms from 1 to 12 months with competitive interest rates tailored to small businesses.
Daily Savings Plans
Save as little as ₦100 per day with our flexible savings accounts. Earn competitive interest and access your money when you need it. Perfect for building emergency funds or saving for business expansion.
Group Lending Circles
Join or form a lending circle with fellow traders and artisans. Share responsibility, access larger loans, and build credit together. Traditional ajo meets modern banking.
Business Training
Free monthly workshops on bookkeeping, inventory management, customer service, and digital marketing. Learn from successful local entrepreneurs and financial experts.
USSD Banking
No smartphone? No problem. Check balances, transfer money, and make loan payments from any mobile phone using our simple USSD codes. Banking for everyone.
Insurance Protection
Optional micro-insurance for your business, health, and family. Affordable premiums starting from ₦500/month. Protect what you've built against unexpected setbacks.
Pricing
Transparent Pricing
No hidden fees. No surprises. Just honest banking.
All fees clearly disclosed before you commit
Microloan
2.5% interest /mo
- ✓ ₦10,000 - ₦500,000
- ✓ 1-12 month terms
- ✓ 24-hour approval
- ✓ No collateral under ₦50k
- ✓ Flexible repayment
Group Lending
2% interest /mo
- ✓ ₦500,000 - ₦2M per group
- ✓ 3-18 month terms
- ✓ Shared responsibility
- ✓ Lower rates
- ✓ Build credit together
Our Impact in Numbers
12,000+
Active Customers
₦2.4B
Loans Disbursed
98.5%
Repayment Rate
24 hrs
Avg. Approval Time
15
Lagos Branches
4.8/5
Customer Rating
Voices from Our Community
MicroBank believed in me when traditional banks wouldn't even talk to me. Now my tailoring business employs six people.
The daily savings plan changed my life. I saved ₦200 every day for a year and bought my first delivery motorcycle.
The business training workshops taught me how to keep proper records. My profits increased because I finally understood my numbers.
Community Success Stories
Expanded from one stall to three using a ₦150,000 microloan. Now employs four assistants and serves customers across Lagos.
Purchased diagnostic equipment with a ₦200,000 loan. Revenue increased 60% in six months, now training two apprentices.
Five women formed a lending circle, accessed ₦500,000 collectively. Now cater events for 200+ guests and own commercial kitchen.
Built emergency savings of ₦80,000 through daily deposits. Weathered slow season without debt and expanded product line.
Common Questions
Who can open an account with MicroBank Lagos?
Any Nigerian resident over 18 with valid identification (National ID, Voter's Card, Driver's License, or International Passport) and proof of business activity (business registration, market association card, or reference letter from community leader).
How quickly can I get a loan?
Most loan applications are reviewed within 24 hours. Once approved, funds are typically disbursed within 48 hours. For loans under ₦50,000, same-day disbursement is often possible.
What if I don't have collateral?
Loans under ₦50,000 typically don't require collateral. For larger amounts, we accept business equipment, inventory, or guarantors. Group lending circles also eliminate individual collateral requirements.
Can I bank without a smartphone?
Absolutely! Our USSD banking service works on any mobile phone. Dial our shortcode to check balances, transfer money, and make payments. We also have 15 branches across Lagos for in-person service.
What are the interest rates?
Microloan rates start at 2.5% per month (24% APR). Group lending rates are lower at 2% per month (20% APR). Savings accounts earn 4% annual interest. All rates are fixed and disclosed upfront with no hidden fees.
How do group lending circles work?
Form a group of 5-10 trusted business owners. The group applies together and shares responsibility for repayment. This allows access to larger loans at lower rates. If one member struggles, the group supports them.
Is my money safe?
Yes. MicroBank Lagos is fully licensed by the Central Bank of Nigeria. All deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC) up to the maximum coverage amount.
What business training do you offer?
We host free monthly workshops on bookkeeping, inventory management, customer service, digital marketing, and financial planning. All customers are welcome. Check our branch notice boards or SMS alerts for upcoming sessions.
Ready to Grow?
Whether you need a loan to expand, want to start saving, or just need financial guidance, MicroBank Lagos is here for you. Visit any of our 15 branches or apply online today.