Frequently Asked Questions

What is Indulge MFB?

Indulge Microfinance Bank is a digitally driven, customer-focused financial institution licensed by the Central Bank of Nigeria. We provide easy access to savings, loans, investments, and secure digital banking services designed to empower individuals, entrepreneurs, and growing businesses. Our goal is to help you manage money confidently and conveniently, anytime and anywhere.

How do I know I am qualified for a Indulge Loan?

To be eligible for personal loans

  • You Must be 18 years and above.
  • Have a verifiable source of income
  • Reside and/or work in locations where we operate.
  • Have a savings or current bank account with any commercial bank in Nigeria.
Where is the Indulge Office?

Indulge office is located in 56, Opebi Road, Ikeja, Lagos.

You can as well reach us through: www.indulgemfb.com/contact for more details.

What is the maximum amount I can borrow and for how long?

Indulge will lend you Money according to your credit history, earning capacity and personal integrity - For Maximum of 12 months.

Do I need any collateral or documents in order to secure a loan?

Collateral is applicable where necessary.

How can I get an instant loan?

Visit our website and click on the link “Get your loan now!”. 

Another quick way?

  • Get an Android phone and a BVN.
  • Download the Indulge app from the Google Play Store or App store.
  • You will need to sign up with the mobile phone number connected to your BVN,
  • We would like to confirm that you are a real person and not a bot to receive a loan offer.
  • You will accept the terms and conditions guiding the loan.
  • You will speedily receive your loan in the bank account you provided.
How can I repay?

You can make your loan repayment via all channels including: Mobile, Internet Banking, Bank transfer, Cheque etc.

If I don’t pay back my loans as at when due what will happen afterwards?

We do not reschedule payment dates, you should take a loan only if you have the capacity to repay it to avoid: - Not being considered for more loans, Late fees, and Report to national credit bureaus as required by law (CRC, First Central)

Is Indulge a bank with a license?

Yes, the Central Bank of Nigeria has granted us a license to do microfinance banking. We are registered under RC 796975. 

What makes Indulge unique from other banks?
We are special, you're correct.

Beside giving you what every other amazing bank out there has, at Indulge, We have eliminated all the barriers blocking your path to finance your aspirations.

Just make your request, it shall be answered. 

How will I deposit funds into my Indulge account?

You can deposit funds into your Indulge account in several ways:

Through internet banking or a bank app, you can transfer money to your Indulge account from any Nigerian bank.

A Nigerian debit card can also be used to make deposits into your account. On your Indulge dashboard, click Add Money, then select the Add By Card option.

What are your requirements for opening a savings account with Indulge?

Basic personal information, phone number, email address and other requirements.

You require my BVN?

In order to ensure that nobody is impersonating you, we need you to validate your BVN.

We are bound to safeguard all the personal information of our customers, following the directive of The Nigerian Data Protection Regulation, 2019 ('NDPR') 

We won’t use your BVN to access your other bank account(s).

What fees do you charge?

Normal fees that applies to transactions in Nigeria as regulated by CBN.

Do you have a physical office anywhere?

Yes, you can visit us at 56, Opebi Road Ikeja Lagos.

How do I get help?

On the Indulge platform, select the help Icon popping out at the top right corner of your screen, then select Chat With Us to, we’ll be in touch with you.

You can also send an email to customercare@indulgemfb.com or call +234-91-5050-9000 between 8:00 am and 5:00 pm on weekdays.

Is Indulge a bank with a license?

Yes, Indulge Microfinance Bank is fully licensed by the Central Bank of Nigeria (CBN) to provide innovative financial solutions. 

What makes Indulge unique from other banks?

Indulge offers tailored savings products like Daily Kobo, Strategic Savings, and Personal Savings, designed to help you reach your financial goals seamlessly. 

How will I deposit funds into my Indulge account?

You can deposit funds through bank transfers, our mobile app, or by visiting our physical branch. 

What are your requirements for opening a savings account with Indulge?

To open a savings account, you need:

  • A valid means of identification
  • A recent passport photograph
  • Your BVN (Bank Verification Number) 
Do you require my BVN?

Yes, your BVN is required to ensure compliance with regulatory standards and enhance the security of your account. 

What fees do you charge?

We charge minimal fees for services such as transfers and account maintenance, all in line with CBN-approved rates. 

Do you have a physical office anywhere?

Yes, we have a branch where you can visit for any in-person banking needs. 

How do I get help?

For assistance, you can reach us via:

Start saving smarter with Indulge today! 

What types of loans does Indulge offer?

Indulge offers a variety of loan products tailored to meet different needs:

  • LPO Finance: For financing local purchase orders and contracts.
  • Asset Finance: To help you acquire equipment or assets for personal or business use.
  • Business Loans: Designed to grow and expand your business.
  • Personal Loans: For personal financial needs like education, health, or emergencies.
  • Salary Advance: Quick access to funds before your payday. 
How do I apply for a loan?

Applying for a loan is simple:

  1. Visit our website or mobile app.
  2. Use our loan calculator for an instant overview.
  3. Complete the loan application form and submit the required documents.
  4. Await approval and receive funds swiftly. 
What is the quick loan calculator, and how does it work?

Our quick loan calculator helps you estimate your loan repayment schedule, including interest and tenure, giving you a clear overview before applying. 

What are the requirements for getting a loan?

Requirements may vary by loan type, but typically you’ll need:

  • A valid means of identification
  • Proof of income (e.g., payslip or bank statement)
  • Completed loan application form
  • For business loans, evidence of business registration or cash flow records may be required 
How long does it take to get loan approval?

Our process is fast and seamless! Loan approvals can take as little as 24-48 hours once all required documents are provided. 

Do I need collateral for a loan?

Collateral requirements depend on the loan type. For example:

  • LPO and Asset Finance loans may require collateral.
  • Personal and Salary Advance loans typically do not require collateral. 
What fees and interest rates apply to loans?

Our fees and interest rates are competitive and transparent, tailored to each loan product. Details are provided during the application process. 

Can I repay my loan before the due date?

Yes, you can repay your loan early without penalties. Early repayment helps save on interest! 

How do I make loan repayments?

Loan repayments can be made through our mobile app, bank transfers, or at our branch. 

How do I get help with my loan?

For loan assistance, contact us via:

Indulge Loans—Tailored for your success and financial growth! 

What investment products does Indulge offer?

Indulge Microfinance Bank currently offers the following investment options:

  • Fixed Deposit: Earn attractive returns by locking in your funds for a specific period.
  • WiseVest (Coming Soon): An innovative investment platform currently in development. Updates will be provided to customers once it’s ready.
What is Fixed Deposit, and how does it work?

Fixed Deposit is a secure investment option where you deposit a specific amount for a fixed tenure at an agreed interest rate. At maturity, you earn both the principal and accrued interest. 

What are the benefits of a Fixed Deposit with Indulge?
  • Competitive interest rates
  • Flexible tenures to suit your financial goals
  • Guaranteed returns with no risk of market fluctuations 
How do I open a Fixed Deposit account?

Opening a Fixed Deposit account is easy:

  1. Visit our branch or contact us through our mobile app or website.
  2. Complete the Fixed Deposit application form.
  3. Deposit the investment amount, and you're all set! 
Can I withdraw my Fixed Deposit before maturity?

Yes, early withdrawal is possible, but it may attract a penalty or affect the interest accrued. Contact us for more details. 

When will WiseVest be available?

WiseVest, our upcoming investment platform, is in development. Customers will be notified with updates as soon as it launches. 

How safe are my investments with Indulge?

Your investments are secure and backed by regulatory compliance, ensuring peace of mind. 

How do I get help with investments?

For loan assistance, contact us via:

Start building your wealth with Indulge’s secure and rewarding investment options today!