1. Salary (current account) is opened for non-salary account holders.
  1. Current account is opened for non-account holders.
  2. Customer obtains an invoice from vendor
  3. Customer completes and submits FEALS Application form along with written application letter.
  4. Receipt of letter of introduction from employer confirming employment status, salary, allowances and terminal benefits (where applicable).
  5. Irrevocable domiciliation of salary, allowances and terminal benefits (where available) with Fidelity Bank throughout the loan period.
  6. Receipt of 3 month’s pay slip.
  7. Proforma invoice from vendor is received and verified
  8. Customer’s equity contribution of 20% is received into the salary(current) account in the bank along with insurance premium due.
  9. Product champion inputs request on the Consumer Loan portal and follows through portal approval process from BL, RBH to RCO/TSD Head.
  10. Upon approval, facility is disbursed through customer’s salary(current) account and draft issued from the account in favour of the Spark Support Services Ltd or direct transfer to vendor account with the Bank.
  11. All upfront charges are taken.
  12. Draft is exchanged for asset financed and delivery taken.

Do not hesitate to contact the Consumer Finance team for further enquiries or clarifications.

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