CBN Non-Interest Loan 2023 Application Process

CBN Non-Interest Loan 2023 Application Process

The Central Bank of Nigeria (CBN) together with Microfinance Bank NIRSAL have approved and opened a non-interest loan facility. In general, these loans are available for households, AGSMEIS, and MSMEs. So if you are interested and fall into one of these categories, the information below will guide you on how to apply for a CBN non-interest loan.


TCF, an acronym for Non-Interest Targeted Credit Facility, is a stimulus package to help households and businesses in Nigeria (Micro, Small and Medium Enterprises) that have been negatively impacted by the COVID-19 pandemic. In general, these grants are non-interest packages that aim to finance the main assets of a business until they are established. In addition, for households that are still struggling to survive, this loan will help them.

The financing limit for TCF is N2,500,000.00 with a 3 year tenor and a 6 month moratorium. Moratorium is a policy period given by banks to customers that allows them to postpone payments.

CBN Household


AGSMEIS-NI, an acronym for Non-Interest Agri-Business, Small and Medium Enterprise Investment Scheme, is a funding scheme by the federal government. The federal government does this funding through CBN and it focuses on promoting agricultural businesses in Nigeria. This will help boost economic development and create jobs for the unemployed.As an alternative to AGSMEIS are their non-floral products. In general, these products are based on the financial transaction principles of Islam and offer features like Murabaha and Ijarah. This product is specifically designed to help business growth and finance raw materials, equipment and working capital.

AGSMEIS-N has a financing limit of N10,000,000.00 with a tenor of 7 years tenor (depending on the nature of the project). As an applicant, you may enjoy an added period of 6 months as a moratorium.

Important Link: AGSMEIS Loan Application how To Apply For CBN Non-Interest Loan

If you want to apply for a CBN Non-interest loan for households and SMEs, here’s what to do:

First, start by going to the NIRSAL microfinance website next, tap on “Apply for Non-Interest Facility”. When you tap that, it will provide you with two options. These options are “NON-INTEREST TCF” and “NON_INTEREST AGSMEIS“. Click on the “NON-INTEREST TCF” tab.

Once you tab the NON-INTEREST TCF tab, you will see two options: Household facility and SME facility. Pick the option that is most appropriate for you. Thereafter, you can start the registration properly.

You will be asked if you are just a new applicant or returning to your previous application. If you are applying for the first time, select “New Applicant”.

Next, move ahead to input your BVN. This will automatically produce some of your details. Fill in the empty fields required with your other details.

If your application is successful, you should receive a congratulatory message for applying successfully. If you have a business that you have registered with CAC, you can opt for the SME facility. You just need your business’ TIN number and other information related to the CAC registration.

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