Loan product
Asset Finance
Acquire vehicles, generators, tablets, laptops, machinery or trade equipment and repay over an agreed period. The financed asset typically serves as security until full settlement.
Key terms
- Loan amount
- ₦100,000 – ₦15,000,000
- Repayment period
- 6 – 36 months
- Interest rate
- from 15% per annum
- Processing fee
- 2% of principal
- Repayment options
- Weekly, bi-weekly or monthly
- Default interest
- 30% above agreed rate
Repayment example
₦500,000 over 6 months at 15% per annum, repaid monthly.
- Principal
- ₦500,000
- Interest
- ₦37,500
- Processing fee (2%)
- ₦10,000
- Total repayment
- ₦537,500
- Monthly repayment
- ₦89,583
Illustration only. Late payment attracts default interest of 30% above your agreed rate, as set out in your loan agreement.
Who can apply
- Individuals and businesses with verifiable income
- Applicants purchasing an approved asset from an approved vendor
- Applicants able to provide any required equity contribution
Eligibility requirements
- Vendor invoice or quotation for the asset
- Equity contribution where applicable
- Verifiable income or business revenue
- Valid means of identification
Required documents
- Vendor invoice or quotation
- Valid ID
- 6 months bank statement
- CAC documents for businesses
- Insurance details for the asset where applicable
Calculator
Estimate your asset finance repayment
Loan details
Adjust the inputs to see your estimated repayment update instantly.
₦100,000 – ₦15,000,000
Rate set by Vicade Global for this product.
Estimated monthly repayment
₦89,583
6 payments · first payment 23 September 2026
- Principal
- ₦500,000
- Interest
- ₦37,500
- Processing fee (2%)
- ₦10,000
- Total repayment
- ₦537,500
Repayment schedule
| # | Due date | Amount | Balance |
|---|---|---|---|
| 1 | 23/09/2026 | ₦89,583 | ₦447,917 |
| 2 | 23/10/2026 | ₦89,583 | ₦358,333 |
| 3 | 23/11/2026 | ₦89,583 | ₦268,750 |
| 4 | 23/12/2026 | ₦89,583 | ₦179,167 |
| 5 | 23/01/2027 | ₦89,583 | ₦89,583 |
| 6 | 23/02/2027 | ₦89,583 | ₦0 |
Calculator results are estimates and do not constitute a loan offer. Final loan terms are subject to approval.
FAQs
Asset Finance questions
Apply for a asset finance
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