Bank Of Industries (BOI) rolls out repayment scratch-cards for TraderMoni and MarketMoni Loans| How to pay back tradermoni loan in any bank in Nigeria and qualify for higher amount.
There are various means available for beneficiaries of the TraderMoni or MarketMoni Loan to pay back their loan and get higher amounts (up to 100,000). See full details below-
How to Pay Back Trader Moni Loan / Market Moni Loan Using Scratch Cards
Bank of Industry (BOI) has rolled out its voucher-based loan repayment recharge cards for the GEEP TraderMoni, MarketMoni, and FarmerMoni loans.
Through a flexible weekly loan repayment plan of N430 per week paid over six months or N860 per week paid over three months, TraderMoni beneficiaries can use the cards to pay back their loans and qualify for the next loan of N15,000 etc.
Trader Moni Payment Structure and How to Collect Higher Amount
The first stage, you collect ₦10,000. When you pay back ₦10,250 before or within 6 months, you will be able to collect ₦15,000.
When you collect ₦15,000, you are expected to pay back ₦15,375 before or within 6 months, you will be able to collect ₦20,000 loan.
When you collect ₦20,000, you are expected to pay back ₦21,000 before or within 6 months, you will be able to collect ₦50,000 loan.
When you collect ₦50,000, you are expected to payback ₦52,500 before or within 6 months, you will be able to collect ₦100,000 loan which you are also expected to pay.
Approved Banks To Repay Trader Moni Loan
When you are ready to pay back your Trader Moni loan, you must visit only approved banks by the Federal Government. We have listed the approved banks below, visit the bank near you to repay the loan.
- Eco Bank
- Fidelity bank
- GT Bank
- Heritage Bank
- Jaiz bank
- Stanbic Bank
- Sterling Bank
- Union bank
- Wema bank
How to Pay back TraderMoni Loan in any Bank
When you go to any of the banks listed above, tell them you want to use paydirect to repay your loan. On paydirect, tell the cashier to look for BOI-GEEP. You will be able to repay your loan this way.
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