How to apply for CBN non-interest loan (Household, SMEs)

by Johnson Daniel

The Central Bank of Nigeria (CBN) recently approved a non-interest facility loan and now opened the application portal for households, SMEs and AGSMEIS under NIRSAL Micro Finance Bank. Interested applicants can go for any of the suitable options – households, SMEs and AGSMEIS.

The CBN Loan Application portal is open for entry and thousands of applicants have already applied. In this article, you are going to learn how to apply for the CBN COVID 19 Loan 2021 for Households and SMEs. But before we get to that, let’s quickly take a look at the type of acceptable businesses. Kindly note that the industries listed below are not limited and should not be weary if your industry is not listed.

How to apply for CBN non-interest loan (Household, SMEs)


The Non-Interest Targeted Credit Facility (TCF) is a stimulus package to support household and Micro, Small, and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic. It is a non-interest term facility targeted at small businesses for the financing of key assets for their businesses.

The financing limit is N2,500,000.00 for a tenure of 3 years with 6 months moratorium (a moratorium is a grace period granted to the customer by the Bank to postpone the payment).


The Non-Interest Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS-NI) is a federal government intervention funding scheme through CBN that is intended to promote agricultural businesses to spur economic development and employment generation in the country.

The non-interest product is an alternative to the existing AGSMEIS program that is based on Islamic principles of financial transactions using products such as Murabaha and Ijarah. It is a term financing specifically introduced for the financing of equipment, raw materials and working capital.

The financing limit is N10,000,000.00 for a tenor of up to 7 years (depending on the nature/gestation period of the project). Applicants may in addition enjoy a moratorium of 6 months for mark-up and 18 months for the principal (a moratorium is a grace period granted to the customer by the Bank to postpone the payment).

Requirements for the CBN Non-Interest Loan

  • Registered business with CAC
  • BVN

How to apply for CBN Non-Interest Facility Loan

Below are steps you should take to apply for the CBN COVID 19 Loan 2021.

  • Visit the NIRSAL microfinance website.
  • Click on the Apply for “Non-Interest Facility”. When you click on that, it gives you two options like this; “NON-INTEREST TCF” and “NON_INTEREST AGSMEIS“.
  • Under the “NON-INTEREST TCF” tab, you will get two options – Household facility and SME facility. Select what suits your need and proceed.
  • After selecting your choice, you would be asked if you are a New or Returning applicant. Select New if this is your first time.
  • Fill in your BVN the rest required info. As you continue with the registration, you will be asked to list out your needs, quantities and price. Upon successful registration, you would get a congratulatory message for a successful application.

Kindly note, if you have registered your company with CAC, you can go for the second row (“APPLY FOR SME FACILITY (NON-INTEREST)”). The major difference between the Household and SME is the company’s information from TIN, CAC and all related information.

Leave a Comment


ZUBAIRU EVUTI ABDULLAHI September 16, 2021 - 11:16 am

IAM interested in house hold non intrest loan

ZUBAIRU EVUTI ABDULLAHI September 16, 2021 - 11:44 am

I don’t know how to involve EFCC to investigate our Niger State local government salary in LAPAI people are dying of hungers no last years October salary off to date and they’re paying salary per sixty percentage of civil servant salary in all local government ,my question is how Will tham being paying back a loan with a civil servant salary ?

Johnson Daniel September 17, 2021 - 12:16 pm

I’m sorry, I didn’t get the last part


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