COVID-19 Targeted Credit Facility (TCF) Loan Latest News Update Today – This is to inform the general public of the latest news update on Covid-19 Target Credit Facility (TCF) Loan. This update will serve as a guideline to all that wants to apply for Covid-19 TCF Loan and also for those whose application is still pending likewise those that were shortlisted for payment. Here, you would be told reasons why your TCF Loan applications has not been approved and what you are expected to do. SEE FULL DETAILS BELOW
Reasons why your Covid-19 TCF Loan Application is still pending
One or all of the following reasons may be why your application has not been approved, is still pending, or credit hanging:
- Your bank account name is different from your BVN name. For example, your BVN name is Emeka Musa Tobi but your bank account name is simply Emeka Tobi. Both names must tally so you might want to approach your bank to rectify this difference.
- Your bank account type/category is tier 1 or tier 2, instead of tier 3. Tier 1 account can only receive a maximum of N100,000, tier 2 N250,000. You are advised to visit your bank immediately to upgrade your account to tier 3 with:
- PHCN Bill
- Means of ID (Any of National ID, Voters Card, Int’l Passport or Driver’s License)
- 2 Passport Photographs.
- You currently have a non-performing facility (bad loan). Even 1 naira bad loan can deny you the opportunity.
- You may have supplied incomplete or wrong BVN. Kindly dial *565*0# from your registered line to see your correct BVN
- You may have supplied BVN that has a different name from the name supplied during the application. Please double-check.
Note: Before now, tier 1 and tier 2 account holders could get approvals while their funds will be pending account upgrade to drop. However, that stopped months back as only qualified tier 3 account holders are now eligible for approval consideration.
How to be Updated regularly