Credit and loan officers analyze and evaluate financial information on applications for credit and loans and determine approval or disapproval of the client for the credit or loan or recommend to management approval or disapproval.
Skill level:
Skilled
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- Salary range for the majority of workers in Credit and loans officers - from ₦25,645 to ₦75,495 per month - 2025.
- A Credit and loans officers typically earns between ₦25,645 and ₦61,020 net per month at the start of the job.
- After 5 years of service, this is between ₦24,654 and ₦55,159 per month for a working week of 40 hours.
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Job Responsibilities
- Interviewing applicants for personal, mortgage, student and business loans
- Researching and evaluating loan applicants’ financial status, references, credit and ability to repay the loan
- Submitting credit and loan applications to management with recommendations for approval or rejection
- Approving or rejecting loan applications within authorized limits ensuring that credit standards of the institution are respected
- Keeping records of payments, preparing routine letters requesting payment for overdue accounts and forwarding these for legal action
- Completing credit and loan documentation
