How to Access Wema Bank Personal And Other Loans – Criteria and Eligibility

Personal Loan is a loan facility currently available to employees who operate a Salary Current or Savings Account with Wema Bank. This product is also available for formally employed staff of companies/employers pre-approved by Wema Bank and groups of salary earners under an association. With this product, you can cover medical bills, purchase a car, make home improvements, give your side hustle a little boost, pay for training to improve yourself, and do so much more!

The personal loan will be disbursed into a salary account domiciled with the Bank.

USSD code for loans in Nigeria

The WEMA Bank USSD code for loans in Nigeria is *945*65#. Simply dial *945*65# and follow the prompts to get loans in Nigeria from WEMA Bank.

Benefits of Personal Loans in Nigeria

  • Available to existing salary account holders, based on salary domiciliation.
  • New customers, will in addition to salary domiciliation, provide evidence of consistent salary payment for the most recent 3 months.
  • The maximum loan amount is 7 multiples of net monthly salary, subject to a maximum of N2 million
  • Maximum loan tenor of 36 months.
  • Loan Top-up available after 6 months of regular monthly down payments.
  • Available to confirmed employees only.
  • Apply for loans & overdrafts at the convenience of your office
  • Short turnaround time for loan & overdraft disbursement (48 hours)

Easy Access to Instant Loans with Low-Interest Rate

As with everything else on ALAT, you can now apply for a quick and instant loan without paperwork, no visitation to any physical location, and response time between acceptance of offer and loan disbursement is in minutes.

You can now borrow as much as N2, 000,000 (Two million naira) without collateral. Alat loan is structured to help you and it is evident in the interest rate of only 2% interest rate per month on a reducing balance basis.

Click here to access the instant loan:

Salary Current Account

If you need a current account to receive your salary and other emoluments from your employer; this account is for you. In addition to having a special account for your salary, the Salary Current Account also grants you access to personal loans & revolving overdraft facilities.

you can read more about Wema Bank other services here


Zero account opening amount (First salary would be the opening balance)

Access to personal loan repayable within 24 months

No restriction on the number of withdrawals per month

Supports use of Wema debit cards (for ATM, POS, Mobile & Web transactions)

Benefits to customers

Enables customers receive their emoluments and have access to Fixed Term Personal Loan interest rates

Personalised cheque book

Access to Digital banking through ALAT

Personalised debit card

Transaction alerts through SMS and/or E-mail


Duly completed account opening form including signature mandate card.

Copy of National ID card, Driver’s License, Voters ID or International Passport of the account holder.

Where the organization, institution or agency has an account with the bank with complete and valid documentation, the customer can present the following for identification purpose:

A copy of valid staff Id

An introduction letter from the organization, institution or agency dully signed by authorized signatories of the organization

1 passport photograph


Copy of a utility bill (water, electricity, waste or telephone) issued within the last 3 months


2 References from the employee or 1 reference from the employer.

Savings Account

More than just saving, with our savings accounts we help you move even closer to your goals everyday.

Frequently Ask Questions

How much can I borrow?

You can borrow up to ₦2M depending on the organization you work for and your income. You will be advised at the time of application.

How long do I have to repay the loan?

You have up to 36 months to repay the loan depending on the organization you work for and your income. You will be advised at the time of application.

Do I have to receive my salary through your bank to be eligible for the loan?

Yes. We require you to domicile your salaries and allowances with the bank. You will be required to instruct your employer to do so and your employer must confirm this in writing.

How much do I need to earn to qualify for the loan?

In order to qualify, you must earn a minimum of ₦30,000 if you are a Nigerian and minimum of ₦50,000 if you are a foreigner. You must also be a permanent and confirmed employee of the organisation.

If I have a loan running with another bank, can I transfer it to WEMA Bank?

Yes. In order to do this, you will go through the normal application process. In addition, we require a letter from the bank where your loan is stating the outstanding balance of your loan that is required to be settled. WEMA Bank will pay this amount directly to the bank from the proceeds of your new loan.

What is the security or collateral for this loan?

This loan is unsecured. All that we require is for you to receive your salaries and allowances through WEMA Bank throughout the period of the loan.

If I have a loan running, can I Top up if I require additional funds?

Yes. This can be done 6 months from the date you took the initial loan. A good repayment history is also required and we can work with you on this.

Can I pay down the loan before maturity?

Yes, you can pay down your loan before maturity.

Can I use the loan for any purpose?

Yes. This is an all-purpose loan and can be used for any purpose of your choice.

Click here to apply

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