Politically Exposed Persons (PEP) Loan
About PEP Loan
Fidelity Bank’s Politically Exposed Persons (PEP) Loan is a tailored financial solution designed exclusively for elected lawmakers at federal, state, and local government levels. Whether you need a term loan or a pre-inauguration overdraft, we offer flexible financing to match your tenure and remuneration.
Features
Benefits
- Quick and hassle-free access to funds
- Flexible repayment tied to earnings: Secured with salary, allowance, and severance benefit domiciliation
- Financial Stability: Enables lawmakers to effectively manage expenses and projects during their tenure.
- Customisable Solutions: Tailored credit solutions to meet the needs of different legislative roles.
Frequently Asked Questions
Elected Senators, House of Representatives Members, State House of Assembly Members, Local Government Chairmen, and Councilors.
Visit the nearest Fidelity Bank branch to begin your application.
- Photocopy of INEC’s Certificate of Return (Original must be sighted).
- Irrevocable domiciliation letter of salary, allowances, and severance benefits to Fidelity Bank.
- Additional documentation for local government officials signed by the Head of Personnel Management or Treasurer.
Monthly repayment is structured within a 40% Debt Service Ratio (DSR). Exceptions require executive approval.
The loan is protected with credit life insurance, ensuring smooth settlement in unforeseen circumstances.
How to Apply
Applying for the PEP Loan is simple. Visit your nearest Fidelity Bank branch today to start your application and enjoy exclusive financial support tailored to your role in governance.
