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What is BELA?

The Snow Micro Finance Bank Business Equipment Account (BELA) is our flagship product for growing businesses and individuals who seek to fast-track their growth without the associated stress of making huge financial down payments for their necessary equipments and appliances. BELA offers quick, convenient and easy payment plans for asset acquisitions.

How Does BELA Work?
  • Pick up an account opening package and complete the process with required documentation.
  • Visit the showroom to ascertain your choice or the account officer goes around with a brochure and a price list.
  • Fill the lease form and pay in your Equity Contribution and up-front fees into account
  • Endorse the repayment plan and offer letter.
  • Delivery of product to the customer shop or house (point of use). Customer signs off for receiving of product at the point of delivery
BELA Corporate Account

FOR PRIVATE AND PUBLIC WORKERS

This is for individuals who work in selected public and private organizations with regular monthly salaries.

Steps:
1. Open an account
2. Fill Application form
3. Pay in your 30% Equity (Security fees).
4. Pay all other charges
5. Sign right of Entry form.
6. Offer letter duly acknowledged:
7. Repayment Plan: Cheques (Monthly against salary)
8. Pick up your goods. (Delivered to the office or home at a cost and customer signs for receiving goods in good condition)

CONDITIONS
Banker’s cheque & photocopy of I.D. card duly signed. (Optional)
Option: 3 months, 6months.
Maximum limit per customer: #300,000 (inclusive of interest).
Monthly interest 4% flat, management fee 1%, application fee 1% and insurance fee 1%

BELA Traders & Artisans Account

FOR TRADERS AND ARTISANS

This is for traders, artisans and other individuals and groups who have verified businesses seeking to grow their business through asset acquisition.

1. Open an account
2. Fill Application form with a guarantor
3. Pay in your Equity (30% Equity)
4. Pay all your charges
5. Sign Right of Entry (dully stamped with Nigerian stamp)
6. Offer letter duly acknowledged (Represent receipt).
7. Repayment Plan (Weekly).
8. Pick up your goods

CONDITIONS
Option: 3 months, 6months.
Maximum limit per customer: #300,000 (inclusive of interest).
Monthly interest 4% flat, management fee 1%, application fee 1% and insurance fee 1%

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