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Personal Loans

1st National ,service all kinds of personal loans 

  • Check your balance and make payments.
  • AutoPay Discount. Enroll in AutoPay and receive a 0.25% APR reduction.
  • On-Time Payment Reward. Pay your loan on time and in full every month for 12 consecutive months and you can skip a month.
  • No late fees and no prepayment fees.

1st National Loans

We have a wide variety of loans, tailored to your business, personal needs, and other needs. Below are our current loan products.

First Collateral Loan

A consumer loan that makes it possible for you to obtain credit in Liberian Dollars, and US Dollars, using your cash deposits, investments, and their equivalents with 1st National Savings.

  • Up to 80% of your deposits or investments in loans, if the request and collateral are in the same currency
    • Flexible, structured and convenient repayment terms
    • Competitive interest rates
    • Easy and speedy access to credit without the loss of existing assets

Individuals who have cash deposits, investments and equivalents

  • Complete a 1st national Consumer Loan Application Form, which you may
    download it online or pick it up from any of our branches
    • Complete a Letter of Set-Off or Lien or Deposit Hypothecation Agreement in
    the name of the owner
    • Complete a Letter of Confirmation of Collateral
    • Execute a Memorandum of Charge over the investment or cash deposit
    • Provide roll over instructions where necessary
    • Submit your application to the Customer Service Officer in your branch
    along with your original Certificate of Deposit or Savings Passbook
    • Where the pledged cash deposit is not in your name, you would also need
    to do the following and submit with your application:
    – Execute a Guarantee form
    – Complete a Domiciliation of Proceeds Form
    • Where the pledged deposit or investment is in the name of a limited liability company or registered association, you would also need to submit the following with your application:
    – Your Constitution or Memorandum and Articles of Association and;
    – Your Executed Board Resolution of the organization, authorizing the pledging of the cash deposit to the bank on behalf of another party

Non-Profit Loans

Provide loans to all nonprofit companies recognized and accredited.

  • Minimum Opening & operating balance will be determined by a six month
    turnover in current account
  • For non profit agencies home and abroad.
  • Complete a 1st national Consumer Loan Application Form, which you may
    download it online or pick it up from any of our branches
    • Complete a Letter of Set-Off or Lien or Deposit Hypothecation Agreement in
    the name of the owner
    • Complete a Letter of Confirmation of Collateral
    • Execute a Memorandum of Charge over the investment or cash deposit
    • Provide roll over instructions where necessary
    • Submit your application to the Customer Service Officer in your branch
    along with your original Certificate of Deposit or Savings Passbook
    • Where the pledged cash deposit is not in your name, you would also need
    to do the following and submit with your application:
    – Execute a Guarantee form
    – Complete a Domiciliation of Proceeds Form
    • Where the pledged deposit or investment is in the name of a limited liability company or registered association, you would also need to submit the following with your application:
    – Your Constitution or Memorandum and Articles of Association and;
    – Your Executed Board Resolution of the organization, authorizing the pledging of the cash deposit to the bank on behalf of another party

Executive Loan

As a busy, high-flying executive, you seek a quick and convenient means of accessing funds for a specific purpose. Choose the loan made just for you. 

  • You decide how to use your loan
  • No invoices or deposits are required
  • Fast, simple and convenient
  • Flexible repayment schedule ranging from 3 – 36 months
  • Competitive interest rate
  •  Salary account holders who earn executive-level salaries
  • Complete a 1st national Consumer Loan Application Form, which you may
    download it online or pick it up from any of our branches
    • Complete a Letter of Set-Off or Lien or Deposit Hypothecation Agreement in
    the name of the owner
    • Complete a Letter of Confirmation of Collateral
    • Execute a Memorandum of Charge over the investment or cash deposit
    • Provide roll over instructions where necessary
    • Submit your application to the Customer Service Officer in your branch
    along with your original Certificate of Deposit or Savings Passbook
    • Where the pledged cash deposit is not in your name, you would also need
    to do the following and submit with your application:
    – Execute a Guarantee form
    – Complete a Domiciliation of Proceeds Form
    • Where the pledged deposit or investment is in the name of a limited liability company or registered association, you would also need to submit the following with your application:
    – Your Constitution or Memorandum and Articles of Association and;
    – Your Executed Board Resolution of the organization, authorizing the pledging of the cash deposit to the bank on behalf of another party

Business Loans

Run a business and need quick cash to support your cash flow Then this loan is right for you. Get instant funds when you apply and your application is approved.
  • You decide how to use your loan
  • No invoices or deposits are required
  • Fast, simple and convenient
  • Flexible repayment schedule ranging from 3 – 36 months
  • Competitive interest rate
  •  Salary account holders who earn executive-level salaries
  • Complete a 1st national Consumer Loan Application Form, which you may
    download it online or pick it up from any of our branches
    • Complete a Letter of Set-Off or Lien or Deposit Hypothecation Agreement in
    the name of the owner
    • Complete a Letter of Confirmation of Collateral
    • Execute a Memorandum of Charge over the investment or cash deposit
    • Provide roll over instructions where necessary
    • Submit your application to the Customer Service Officer in your branch
    along with your original Certificate of Deposit or Savings Passbook
    • Where the pledged cash deposit is not in your name, you would also need
    to do the following and submit with your application:
    – Execute a Guarantee form
    – Complete a Domiciliation of Proceeds Form
    • Where the pledged deposit or investment is in the name of a limited liability company or registered association, you would also need to submit the following with your application:
    – Your Constitution or Memorandum and Articles of Association and;
    – Your Executed Board Resolution of the organization, authorizing the pledging of the cash deposit to the bank on behalf of another party

FAQ

Most frequent questions and answers

Yes

Yes

Yes.

1st National  offers a full range of banking products and services, and the core products include Cheques, Savings, Transmission, and loans.

 

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