Device financing – How it works

 

  • Customer decides what product he/she wants

  • Complete loan application form and submit to iStore

  • The Device Finance partner who will collect and process the completed forms

  • You will need to pay one current dated cheque for the first month’s instalment and seven post-dated cheques for the remaining seven months

  • The loan value will be inclusive of 5% insurance which is mandatory and covers physical damage (physical damage is not covered under standard warranty)

Required documents for Guarantor:

  • Duly completed form

  • 1 x passport photograph (Guarantor to write name of the photograph)

  • Agreement form

  • Employer’s Identity Card

  • One month certified bank statement (State BVN number)

  • Postdated cheques

  • 2 x cheques for 6 moths tacitly tenor

  • 3 x cheques for above 6 months facility tenor

  • Official e-mail address

Required documents for individual:

  • Formal letter of Application for the facility stating the amount, purpose of the facility, tenure, source of repayment and proposed security.

  • Personal profile (CV)

  • Pay slip (6 months)

  • Copy of employment letter

  • Stamped statements for 6 months

  • Copy of employer’s ID card or other means of Identity and two passports

  • Most recent utility bill

Required documents for corporate:

  • Application Letter on Company Headed Paper stating intent to acquire lease facility for stated equipment

  • Two Passport photograph of the Authorized Signatories

  • Memorandum and articles of Association

  • Certificate of Incorporation

  • Corporate and Management profile

  • Board resolution requiring the company to take on the lease

  • Most recent Audited Financial Statements or Management Account for current period

  • Original Signed and Stamped Bank Statement for the last Twelve (12) months

  • Tenancy Agreement (where utility bill is not in applicant name)

  • Most recent Utility bill