The National Youth Investment fund (NYIF) Application Portal is open and applications are already on the way. However there are some new procedures for applying. We will be guiding you on how to successfully apply. This is to ensure you get the amount you want. Kindly read this update so you can benefit from the NYIF scheme.
Starting from Monday 30th November , All NYIF applicants will be able to upload their business plans on the NYIF portal.
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NEW STEPS FOR NYIF APPLICATION
Your qualification for the fund will be determined by your business plan, so is the amount to be approved for your business. The ministry has changed the process of application to the following 3 basic steps:
- Registration and uploading of business plan.
- Training
- Disbursement
After your business plan is uploaded you’ll be invited for training if your business plan is worthy of funding.
If selected for the training, you’re already 90% qualified for the loan. You will need one guarantor if selected to benefit.
NYIF LOAN AND INTEREST RATE
Maximum accessible amount is 3 Million Naira and lowest is 250 Thousand Naira.
Interest Rate is 5%. Moratorium is 12 months Loan tenure is 36 months.
PLEASE NOTE- You’ll need to be a formally registered business to GET above 500 Thousand Naira.
How to apply for NYIF Loan on nyif.nmfb.com.ng Portal
The application is not difficult, you can apply using your internet enabled mobile phone or laptop from the comfort of your home or office (although, we advise you use a laptop so you can easily get your NYIF registration print out).
You need to understand that the youth investment fund is for all Nigerian youth between the age of 18 and 35 years.
If you are between the above mentioned age, then you can proceed to apply on the NYIF portal now.
Make sure you keep all your data safe after filling the application, this is because you will require them if you get shortlisted for the federal government youth investment fund online application form.
Visit https://nyif.nmfb.com.ng/Applicants/New to start your application.
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