Does Jaiz Bank Give Loans? 2026 Guide

Jaiz Bank does not give loans. As a licensed non-interest bank it cannot hand you cash and charge for the time you keep it, so every Jaiz financing product is a sale, a lease or a partnership instead: the bank buys the car, the appliances or the solar panels and sells them to you at a fixed mark-up, pays your school fees or rent directly and leases the service back to you, or co-owns a house with you and charges rent on its share. There are fifteen such products across the personal, business and EnerJaiz pages of jaizbankplc.com as of 20 October 2026, and only one of them, EnerJaiz solar finance, publishes a price: a mark-up of 30% a year for individuals and SMEs and 28% for corporates. This guide walks through every product, the tenor and eligibility rules Jaiz actually publishes, the Global Standing Instruction mandate in the paperwork, and how the shelf compares with Lotus Bank and TAJBank.

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Why a non-interest bank cannot give you a loan at a margin

A conventional loan is money now in exchange for more money later. In Islamic law that extra is riba, whatever the paperwork calls it, and the only permitted loan of money is qard, repaid at exactly the amount borrowed. A bank cannot run a balance sheet on qard alone, so Jaiz Bank earns its return by trading, leasing and partnering. The customer still pays more than the cash price over time, but the extra is profit on a sale of goods the bank first owned, or rent on an asset the bank still owns, not a charge for lending money. Our guide to what Nigeria's non-interest banks offer in place of loans covers the theory across all the banks; this article is the Jaiz shelf in detail.

The rules that keep a murabaha from collapsing into a disguised loan are set out in AAOIFI Shariah Standard No. 8. Three matter for a Jaiz customer. The bank must acquire possession of the item and bear its risk before selling it to you (clause 3/1/1). The price and profit must be fixed and known at signing and may not be tied to any unknown future variable (clause 4/6). And if you pay late, the bank may not add anything for its own benefit; the only permitted stipulation is an undertaking to pay a sum to charity, which the Shariah board must verify reaches charity (clauses 5/6 and 5/8). Jaiz's contracts are reviewed by its Advisory Committee of Experts, chaired since September 2023 by Prof. Abdulazeem Abozaid, under the Central Bank of Nigeria's non-interest banking rules.

Every Jaiz financing product, as published on jaizbankplc.com

The table is built from the product cards on Jaiz's personal banking, business banking and EnerJaiz pages, checked on 20 October 2026, and from our registry. Where a field says not published, Jaiz does not state it anywhere on the site.

Product	Contract	What it finances	Published tenor, cap or price	Who it is for
Jaiz Auto Finance	Murabaha (cost plus mark-up)	Vehicles	3 to 4 years, maximum 48 months; mark-up not published	Salary earners in public and reputable private organisations
Household Appliances Finance	Murabaha	Fridges, furniture, cookers, laptops, TVs	Up to 24 months; vendor discounts; mark-up not published	Salaried, salary domiciled
General Consumer Finance	Murabaha	Building materials, consumable goods, real estate items	Page body says up to 36 months, feature list says 24; mark-up not published	Salaried, salary domiciled
Jaiz Home Finance	Ijara Muntahiyya Bittamleek with diminishing partnership	A house identified by the customer	20% minimum equity, maximum 7 years; rent rate not published	Salaried buyers
Ijara Service	Ijara (service lease)	School fees, rent, hospital and medical bills	Up to 12 months; fees paid direct to provider; charge not published	Salaried customers
EnerJaiz	Bai-Muajjal (deferred sale)	Solar panels, inverters, batteries, accessories	Individuals 10% down, up to ₦10,000,000, 36 months, 30% a year; SMEs 10% down, up to ₦20,000,000, 24 months, 30%; corporates 20% down, up to ₦500,000,000, 36 months, 28%	Individuals, SMEs and corporates
MSME Finance	Murabaha	Items related to the core business	No tenor or cap published; one year in business, Jaiz account for 3 months	Micro, small and medium enterprises
Working Capital Finance	Agency murabaha	Inventory and raw materials	Lump-sum deferred payment at an agreed date; cost and selling price disclosed	Commercial businesses
Agricultural Finance	Murabaha, Ijara or Salam	Inputs, machinery, crop production	6 to 12 months short term, up to 36 months medium term	Farmers, processors, cooperatives, exporters
Trade Finance	Letter of credit plus murabaha resale	Imports and exports	Instalments or lump sum; price fixed for the term	Importers and exporters
Project and Construction Finance	Istisna	Housing, commercial and industrial builds, government contracts	Monthly, quarterly or half-yearly instalments; price fixed	Contractors and developers
Lease To Own and Ijara Service Corporate	Ijara wa Iqtina; Ijara	Plant, machinery, property; salaries, professional services	Fixed rentals, monthly, quarterly or half-yearly	Companies
Equity-Based Finance	Musharaka	New or existing projects	Profit by agreed ratio, loss by capital share	Businesses willing to share ownership
Bonds and Guarantees	Kafala / Wakala	Advance payment, performance and bid bonds	Fee not published	Government and corporate contractors

The personal shelf: five products, all tied to a salary account

Every personal product on the Jaiz site lists salary domiciliation as a feature. That is the single most important eligibility fact: if your income does not arrive as a salary paid into a Jaiz account, the personal shelf is closed to you, and the only routes left are EnerJaiz, which accepts other income, or the business shelf. Auto Finance is the plainest murabaha on the list, reviewed in our Jaiz Auto Finance review: Jaiz buys the vehicle you choose and resells it at a disclosed mark-up, repaid from salary over three to four years with a hard 48-month cap. Household Appliances Finance works the same way for a fridge or laptop, with a 24-month cap and vendor discounts. General Consumer Finance extends the murabaha to building materials and real estate items, with a live inconsistency to resolve in writing before signing: the page body says up to 36 months, the feature list says a maximum of 24.

Home Finance is a different contract. Jaiz and the customer jointly buy a house, the customer leases Jaiz's share and buys it out in stages, and the rent falls as the customer's share rises. The published terms are a 20% minimum equity contribution, a maximum tenor of seven years and monthly, quarterly or annual payments; the rent rate and maximum amount are not published, and seven years is short for a home, which our Jaiz Home Finance review works through in naira. Ijara Service is the product most people are actually asking about when they search for a Jaiz Bank loan: it pays school fees, rent or hospital bills straight to the school, landlord or hospital, and you repay Jaiz over up to 12 months. Because the money never passes through your hands, it is service procurement rather than a cash loan. Our guide to paying school fees without riba shows how to use it alongside savings.

The business shelf: nine contracts, no prices

Jaiz's business banking page is the fullest Islamic contract toolkit published by any Nigerian bank, and the least priced. MSME Finance requires the business to have existed for at least a year, to hold a Jaiz account run for at least three months, to show six months of bank statements and to finance only items related to its core business; CAC registration is optional but strongly recommended. Working Capital Finance is an agency murabaha: Jaiz appoints you as its agent to find the stock and present a proforma invoice, then pays the supplier itself and sells the goods to you at a disclosed cost plus profit, due as a lump sum on an agreed date. AAOIFI permits the customer to act as purchasing agent only in case of need and requires the bank to pay the supplier directly (clauses 3/1/3 and 3/1/4), which is how Jaiz describes the product. Our Jaiz MSME Finance review covers the intervention funds channelled through these contracts.

The remaining business products are the contracts a corporate treasurer would expect: trade finance through letters of credit with the goods resold on deferred terms, Istisna for construction with the price fixed for the whole payment period, Ijara wa Iqtina lease-to-own for plant and machinery, a corporate Ijara Service to bridge salaries and professional fees, Musharaka with profit by agreed ratio and loss by capital contribution, and Kafala-based bonds and guarantees. Agricultural Finance is the one business product with published tenors: six to twelve months short term or up to 36 months medium term, using murabaha for inputs, ijara for machinery and salam for crop production with upfront payment, with six to twelve months of active agribusiness required and, where applicable, a NIRSAL credit risk guarantee.

EnerJaiz: the one product with a price, and what 30% a year means

EnerJaiz is the exception to Jaiz's silence on pricing and the only public evidence of what Jaiz charges. The structure is Bai-Muajjal, a deferred-payment sale: Jaiz buys the bundle of panels, inverter, batteries and accessories from its vendors and sells it to you on instalments. The three tiers as published on 20 October 2026 are below; every mark-up carries the words subject to market conditions.

Tier	Down payment	Maximum financing	Maximum tenor	Mark-up	Repayment source and cycle
Individuals	10%	₦10,000,000	36 months	30% per annum	Salary, other income and allowances; monthly, quarterly or annually
SMEs	10%	₦20,000,000	24 months	30% per annum	Sales proceeds and other income; monthly, quarterly or termly
Corporates	20%	₦500,000,000	36 months	28% per annum	Sales proceeds and other income; monthly, quarterly or termly

Two things about that 30% deserve plain statement. First, it is high but not out of line with the environment: the Central Bank of Nigeria's Monetary Policy Committee reset the Monetary Policy Rate at 23% on 22 September 2026, down 350 basis points from 26.5%, and the CBN's inflation table shows headline inflation at 14.63% for September 2026. Seven points above the policy rate is a normal Nigerian credit spread, fixed at signing rather than floating. Second, the page does not say whether the per annum figure applies to the full financed amount for each year or to a reducing balance, and that difference is large. An individual buying a ₦5,000,000 system pays ₦500,000 down and finances ₦4,500,000; if 30% a year is applied to the full amount for three years, the mark-up is ₦4,050,000 and the total deferred price ₦8,550,000, about ₦237,500 a month. On a reducing balance it would be materially lower. Jaiz is obliged under AAOIFI clause 4/6 to fix the total selling price in naira before you sign, so ask for that single figure and compare it with the cash price. The phrase subject to market conditions should describe the price offered to new customers, not a right to reprice an executed contract; confirm that in the Bai-Muajjal agreement.

What Jaiz asks for, including the GSI mandate most applicants miss

Jaiz publishes full documentation lists only for EnerJaiz, but they are a reliable guide to what the bank wants on any retail facility. For individuals: an application form, employment offer and confirmation letters, a satisfactory Credit Risk Management System and credit bureau report, a purchase undertaking, an executed offer letter and Bai-Muajjal agreement, a direct debit mandate where salary is not domiciled with Jaiz, a takaful cover certificate on the asset, and an executed Global Standing Instruction mandate. SMEs and corporates add a tax identification number, up to two years of statements from other banks, a board resolution, a lien on the asset, domiciliation of business proceeds, a personal guarantee backed by a notarised statement of net worth, six signed undated cheques, and audited financials for corporate requests above ₦10,000,000.

The GSI mandate is the line to understand before you sign. Under the CBN's Operational Guidelines on Global Standing Instruction for individuals, in force since 1 August 2020, a borrower who has signed a GSI mandate and falls behind can have the past-due amount recovered from any qualifying account linked to their Bank Verification Number at any participating bank: savings, current and domiciliary accounts, investment and deposit accounts, wallets and joint accounts. The guidelines allow recovery of principal and accrued interest only and exclude penal charges; for a Jaiz customer the recoverable sum is the unpaid part of the fixed selling price, consistent with AAOIFI's rule that nothing may be added on default. A January 2022 CBN circular made recovery attempts continuous and unrestricted until the debt is cleared, so a missed EnerJaiz instalment can be collected from your savings at another bank without further notice. The takaful requirement is the other cost to budget for; Jaiz does not name an operator, so choose among the takaful providers in our registry.

Decide whether you need an asset or a service, not cash. Jaiz cannot fund a wedding or a cash gap; it can fund the car, the fridge, the fees or the stock.
Open a Jaiz account first. Salaried applicants should domicile salary; businesses need the account run for three months before an MSME request.
Get the cash price of the asset from the vendor yourself, so you can measure the mark-up when Jaiz states its selling price.
Ask for the total deferred price in naira and the instalment schedule in writing before signing the offer letter.
Read the GSI mandate and the takaful clause. Know which accounts at other banks become reachable on default and what the cover costs.
Keep the purchase undertaking and the executed contract as evidence that Jaiz bought the item before selling it to you.

How Jaiz compares with Lotus Bank and TAJBank on the same question

Nigerians who search for a Jaiz loan usually search for a Lotus or TAJBank loan the same week, so here is the direct comparison from the three banks' published pages and our registry. We have already answered whether Lotus Bank gives loans in full.

Question	Jaiz Bank	Lotus Bank	TAJBank
Cash loan available?	No; qard is not a retail product	No	No
Personal asset finance	Auto (48 months max), appliances (24), consumer goods (24 or 36), all salary-domiciled	All-Purpose Finance up to 36 months, payments capped at 33% of net pay, 20% equity; Rides up to 5 years new, 4 years used, 20% equity	Cost Plus Asset and Auto Finance; tenor and down payment not published
Services finance	Ijara Service for school fees, rent and medical bills, up to 12 months	Education Financing (ijara service) for tuition	Lease (Ijara) finance for services and assets
Any published rate?	Only EnerJaiz: 30% a year individuals and SMEs, 28% corporates	None; described as affordable and competitive	None
Self-employed welcome?	Not on the personal shelf; EnerJaiz accepts other income	Yes, with 8 years' business experience on All-Purpose Finance	Business shelf; Murabaha for Traders ₦500,000 to ₦5,000,000 over 90 days
Home finance	Diminishing partnership, 20% equity, 7 years maximum	LOTUS Homes, murabaha or ijara wa iqtina	No home finance product in our registry

Jaiz has the widest shelf and the strictest salary rule; Lotus publishes affordability caps rather than prices; TAJBank publishes the least on retail finance but the most on trader finance. None publishes a mark-up except Jaiz on solar, which is why our profit rate transparency article remains the complaint we repeat most often.

What Jaiz's own numbers say about how much it finances

Jaiz's unaudited financial statements for the six months to 30 June 2026, filed with the Nigerian Exchange in July 2026, put net financing assets at ₦282.20 billion, up from ₦246.77 billion at the end of 2025, with a further ₦61.78 billion of inventory financing. Income from financing contracts rose to ₦29.61 billion in the half from ₦19.65 billion a year earlier. Against total assets of ₦1,635.03 billion, financing is a little over 17% of the balance sheet; the bank held ₦329.43 billion in sukuk and ₦460.13 billion in cash and balances with the CBN at the same date. Profit before tax was ₦15.42 billion against ₦14.76 billion in the first half of 2025, as Punch reported.

For an applicant those numbers carry two messages. Jaiz is growing its financing book quickly, so new facilities are being written. But financing is still a minority of what the bank does with deposits: it finances salaried employees and documented businesses selectively and keeps most of its money in sovereign sukuk and liquid assets, which is what pays savers the returns our Jaiz Bank accounts review covers.

Our view

If you are a salaried employee who needs a specific asset or a specific bill paid, Jaiz is a sound place to apply, and the contracts it uses are the orthodox ones. The products we would use without hesitation are Auto Finance, Ijara Service for school fees and medical bills, and Agricultural Finance, because each is a clean match between contract and purpose. Home Finance is structurally the best of the Nigerian offerings but the seven-year cap limits who can afford it. EnerJaiz is the product we respect most for its honesty and like least for its price: 30% a year on a three-year solar purchase is a real cost, and the right comparison is with buying a smaller system for cash. If you are self-employed, Jaiz's personal shelf will not serve you; look at Lotus's All-Purpose Finance or build the purchase from savings. And if what you actually need is cash, no Islamic bank will provide it at a margin; our guide on loan apps explains why the alternatives are worse. Facts checked against jaizbankplc.com, cbn.gov.ng and the NGX filing on 20 October 2026.

Frequently asked questions

Does Jaiz Bank give personal loans?

No. Jaiz Bank is a non-interest bank and does not lend cash at a margin. Its personal products are murabaha sales of cars, appliances and building materials, a diminishing-partnership home finance, an ijara service that pays school fees, rent and medical bills directly to the provider, and EnerJaiz solar finance. All except EnerJaiz require your salary to be paid into a Jaiz account.

What are the Jaiz Bank loan requirements?

For salaried customers: salary domiciliation with Jaiz, employment letters, a satisfactory credit report, a purchase undertaking, an executed contract, takaful cover on the asset and a Global Standing Instruction mandate. For businesses: at least one year of trading, a Jaiz account run for three months, six months of statements, a tax identification number and, for corporates above ₦10,000,000, audited accounts.

Does Jaiz Bank do car finance and for how long?

Yes. Jaiz Auto Finance is a murabaha: the bank buys the vehicle and resells it to you at a disclosed cost-plus price, repaid monthly from salary over three to four years with a maximum tenor of 48 months. It is open to salary account holders in public and reputable private organisations. The mark-up, down payment and maximum amount are not published.

What does EnerJaiz solar finance cost?

As published on 20 October 2026, individuals pay 10% down and can finance up to ₦10,000,000 over 36 months at a 30% per annum mark-up; SMEs 10% down, up to ₦20,000,000 over 24 months at 30%; corporates 20% down, up to ₦500,000,000 over 36 months at 28%. All mark-ups are stated as subject to market conditions, and takaful cover on the equipment is required in every tier.

Can I get a Jaiz Bank loan without a salary account?

Not on the personal shelf, where every product lists salary domiciliation. EnerJaiz accepts salary, other income and allowances as repayment sources and asks for a direct debit mandate where salary is not domiciled. Business owners use MSME, working capital, trade or agricultural finance, which require a Jaiz business account, trading history and statements rather than a salary.

Does Jaiz Bank give business loans to SMEs?

Jaiz finances SMEs through murabaha rather than loans. MSME Finance buys items related to your core business and sells them to you at cost plus profit; Working Capital Finance appoints you as the bank's agent to source stock, which Jaiz pays for and resells to you on a deferred date. Conditions include one year in business and a Jaiz account run for three months. Margins are not published.