Loan product
Asset Finance
Acquire vehicles, generators, laptops, machinery or trade equipment.
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
- ₦120,000
- Total repayment
- ₦620,000
- Monthly repayment
- ₦103,333
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.
₦500,000
₦100,000 – ₦15,000,000
6 months
Rate set by Vicade Global for this product.
Estimated monthly repayment
₦89,583
6 payments · first payment 27 September 2026
- Principal
- ₦500,000
- Interest
- ₦37,500
- Total repayment
- ₦537,500
Repayment schedule
| # | Due date | Amount | Balance |
|---|---|---|---|
| 1 | 27/09/2026 | ₦89,583 | ₦447,917 |
| 2 | 27/10/2026 | ₦89,583 | ₦358,333 |
| 3 | 27/11/2026 | ₦89,583 | ₦268,750 |
| 4 | 27/12/2026 | ₦89,583 | ₦179,167 |
| 5 | 27/01/2027 | ₦89,583 | ₦89,583 |
| 6 | 27/02/2027 | ₦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
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