If you are interested in getting a loan from Gtbank, read this article to find out all that you wish to know about their loan packages, requirements, and how to apply.
Gtbank (Guaranty Trust Bank) is one of the leading commercial banks in Nigeria, rendering various services to its customers.
They offer one of the most important services, which is lending (loans).
This is because they know that their customers have several financial challenges, and one way to help them overcome them is by providing loan packages.
Gtbank has carefully designed the different loan packages to meet the needs of people in all walks of life.
Additionally, they gives these loans to customers to meet their urgent financial needs.
Customers collect this loan with an agreement to repay it with interest over a particular period of time.
In addition, Gtbank allows customers to get access to these loans, provided they meet some important requirements.
So, If you are interested in securing a loan from Gtbank, there are different ways to make that possible. You can apply using the USSD code, their official website, or the mobile app.
One important requirement, among others, that we will be discussing in this article is having an excellent credit history.
In this article, we will state the step-by-step process to apply for the various loan packages offered by the financial institution, their benefits, and the application process.
Finally, if you need funds for personal and business use, I advise that you read to the very end.
About Gtbank Loan
Gtbank (Guaranty Trust Bank) loans are various credit packages offered by Gtbank to customers to meet their pressing needs.
They design the loan packages to take care of personal needs, SME businesses, and corporate organizations.
Furthermore, Gtbank packs its loan packages with several benefits, such as low interest rate, no hidden charges, and a flexible repayment plan to make repayment stress-free.
Their customers can secure loans of up to N100 million for business expansion, education, the purchase of equipment, or any other kind of expense.
Additionally, The institution has a favorable loan term that can suit anyone in Nigeria seeking to secure a loan.
Their application process is seamless with less paperwork, while some of the loan packages do not need any form of documentation.
Lastly, you do not need any collateral to access any of the loan packages, but you must meet some basic requirements before accessing the loans, which we will discuss as we go further in this article.
Benefits of Gtbank Loans
Here are some of the benefits customers will enjoy from Gtbank (Guaranty Trust Bank):
- Flexible Loan Options: Customers have the privilege to choose from the range of loan packages offered by the financial institution. So, whether you need a loan for personal needs, business, or asset finance, Gtbank has loan packages to meet that need.
- Fast Approval: The bank evaluates and quickly approves the loan application. Individuals can receive the loan almost instantly, provided they meet the requirements.
- Build Credit History: Securing the Gtbank loan and paying up the loan as at when due can help you build an excellent credit history. This will make it easy to access loans in the future and may attract some benefits.
- Loan for Emergencies: The loan from Gtbank can serve as a safe haven for individuals to access funds during emergencies or unexpected expenses. They give you financial support when it matters most.
- Access to additional banking services: Gtbank loan gives you access to other services and products from the bank, such as investment opportunities and other opportunities.
Gtbank Loan Packages
Gtbank (Guaranty Trust Bank) offers various loan packages to help meet the financial needs of its customers.
The various loan packages offered by the institution include:
Quick Credit
This type of loan package is available to salary account holders with Gtbank.
In addition, Salary earners gets instant access to this type of loan and can borrow up to N5 million; the loan’s minimum amount is N5, 000.
The loan has a repayment period of up to 12 months, with an interest rate of 2.4% monthly, and there are no hidden charges.
Benefits of Quick Credit Gtbank Loan
- You get up to three times your monthly salary.
- The repayment plan is convenient. so, you can repay the loan without any difficulty
- They allow pre-liquidation without penalty.
- One-off credit insurance fee of 1%
Criteria for Quick Credit Gtbank Loan
- You must have a salary account that has been active for 12 months.
- Must not have history of dud cheque.
- A good credit score is mandatory.
- You should not have an unpaid loan with any lending platform.
You can apply for the Quick Credit Loan using the GTBank USSD code. Dial *737*51# and follow the instructions on the screen.
Salary Advance Loan
This type of loan allows individuals to get up to 50% of their salary in advance.
Additionally, This package is available only to staff that work in private companies and government agencies.
They must also have a salary account with Gtbank.
Benefits of Salary Advance Loan
- This loan expires in 30 days and can be renewed monthly.
- You do not need collateral to secure the loan.
- Individuals who work in the private sector must have a minimum of N50, 000, while N25, 000 for the public sector.
- Gtbank relaeses the loan within 24 hours.
Finally, You can apply for the salary advance loan using the GTBank USSD code. Dial *737*8*2# and follow the instructions on the screen.
School Fees Advance
This loan is designed to take care of the education of your child or ward in any school in Nigeria.
Those who work in either a public or private organization and have a salary account with GtBank are the intended users of this service.
Additionally, their minimum salary should not be less than N50,000 for staff in private organizations and N25,000 for public organizations.
Furthermore, this is a time loan, and it allows a maximum repayment period of 4 months.
Borrowers can get a minimum of N50, 000 or a maximum of N5 million school fees loan in advance.
The bank pays the money directly to the school’s account.
Max Advance Gtbank Loan
This loan is meant for individuals (approved staff) who work in certain corporate and government establishments and have a salary account with GtBank.
The loan is referred to as a term loan with a repayment period of 3 to 48 months.
Additionally, the bank allows borrowers to get a minimum loan of N100,000 up to a maximum of N10 million.
The bank refer to this type of loan as an all-purpose loan because borrowers can meet their needs with this loan package, and it also has a good repayment plan.
MaxPlus Gtbank Loan
This package offers a large loan designed for staff in the corporate and private sectors, and they must have an account with Gtbank.
This type of loan is referred to as a term loan, and it is available to platinum customers to help them meet their personal needs.
In addition, They get loans ranging from N6 million to N50 million and have a repayment period of 3 to 60 months.
No collateral is required, but they must have a minimum net annual income of N20 million to secure the loan.
Vehicle insurance premium financing
This type of loan lets individuals pay for their vehicle’s insurance in advance and allows them to repay it over 12 months.
It is meant for salary staff who work with private or government establishments, SME customers, and corporate customers.
Furthermore, borrowers can get as little as N20,000 as loan or a maximum of N1 million for individuals and N5 million for corporate establishment workers.
The institution charges a one-time management fee of 1%, and borrowers are to pay 1.67% interest monthly.
Travel Advance Gtbank Loan
This is a time-loan package designed to meet the needs of customers who intend to travel.
The loan is for airline tickets, hotel reservations, airport pickup and transfer, and tours and events.
Furthermore, customers can get a minimum of a N250, 000 to N3 million loan from the institution, and it is repayable within 12 months.
The institution charges 20% per year on the loan, and customers who intend to apply must have an account with the bank.
Lastly, they must have received salary through the account for at least 3 months.
Premium Advance Gtbank Loan
This type of loan is a revolving overdraft placed on the Gtbank Naira MasterCard.
Individuals can get up to N1 million within a year, which can be repaid in 30 days.
Additionally, the institution charges a one-time fee of 2% for the first time of securing the loan, and customers can access it through the Debit Naira MasterCard.
Requirements for Advance Gtbank Loan
- It is for Platinum customers only.
- You should have had an average monthly salary of not less than N1 million in the last 6 months.
- Your annual turnover should not be less than N10 million.
- Borrowers should have received their salary through their Gtbank account for 3 straight months.
- You must not have past unpaid loans with any lending institution.
GTMortgage Loan
This loan package is designed to finance the acquisition of resident properties in a location that is acceptable by the institution.
Borrowers can borrow a minimum of N5 million and a maximum of N150 million, and they can repay it between 1 year and 20 years, subject to the retirement age of 55 years.
Furthermore, borrowers are to choose the repayment plan that suits them, which can be either monthly, quarterly, semi-annually, or annual.
Computer Acquisition Scheme Gtbank Loan
This type of loan serves corps members who have an account with Gtbank.
It is a time loan designed to pay for the acquisition of electronic devices requires borrowers to repay it during the service year.
Furthermore, Borrowers can get up to N60,000 as a loan amount and must repay it between 3 and 10 months.
Note that the terms and conditions for the loan packages explained above vary depending on certain factors.
How to Apply for Gtbank Loans
To successfully apply for the Gtbank loan, follow this step-by-step process:
- Visit the Gtbank official website and go to the ‘Loan’ section.
- Select the type of loan you want to secure and read through the requirements along with its terms and conditions.
- Complete the application form and make sure to provide all the required information and documents.
- Review and submit the application, and wait for Gtbank to review your loan request.
- Immediately after approving the the loan, the bank will contact you, and funds will be sent to the salary account you have with them.
Alternatively,
- Visit any of the Gtbank branches close by and meet with their representative for guidance on how to apply.
- Complete the application form and provide all the documents
- Submit the application and wait for Gtbank to review and approve it.
- If approved, the bank will sent the fund to your salary account.
How to apply for a GtBank loan through the mobile app
- Launch the mobile app.
- Click on product
- Select the type of loan you want to secure and read its requirements, terms, and condition.
- Provide the necessary documents and information.
- Submit the application and wait for approval.
- Once Gtbank approves the loan , they will credit your your salary account with the loan amount.
General Requirements for Gtbank Loan
The various loan packages have requirements that applicants must meet to secure the loan, but some general criteria exist.
Listed below are the basic requirements you need to meet before applying for Gtbank loan:
- You must be between the ages of 18 and 65.
- You must have an active salary account for a period of 3 months.
- You must be employed.
- You must have an excellent credit score.
- Should not have an unpaid loan with any lending institution.
Gtbank Interest Rate
Each of the loan packages has different interest rate; to get the exact interest rate for any of the loan packages, go to their official website.
You can also visit any of their branches to get assistance from their representative or call their customer care representative.
How to contact Gtbank
- Visit their head office at Plot 635, Akin Adesola, Victoria Island, Lagos.
- Call any of their customer care lines: Tel: +234 1 4480000, 0700 48266328, +234 802900 2900, +234 803900 390
- Send them a message on Whatsapp at +234 904 000 2900.
- Send an email to gtassistant@gtbank.com.
Frequently Asked Questions (FAQs)
How long does it take to get a loan from Gtbank?
This depends on the type of loan you want to secure, but for QuickCredit they approves the loan instantly and sends the money to your salary account with them.
Do I need to go to the bank to apply for Gtbank Loan?
No, you can apply through their mobile app, the official website, or the USSD code.
What is the USSD code to get the QuickCredit Loan?
Dial *737*51# and follow the instructions to secure the Quickcredit loan.
Can I use the school fee advance loan to pay for Master’s degree program?
No because the bank transfers the loan directly to the school account. It is for your child’s or ward’s education.
Do I need to make any contribution when applying for the Max Advance Loan?
No, it is a consumer loan, so customers do not need any equity to secure the loan.
In Conclusion
Gtbank (Guaranty Trust Bank) offers attractive loan packages to meet the many needs of individuals.
These loans have a good repayment period and a competitive interest rate.
Additionally, securing any of the loans does not require collateral, but some requirements differ depending on the loan package.
However, it is important to read through the terms and conditions of the loan you intend to apply for, and you can visit the bank or the bank’s official website to get all the needed information.
If you have any questions regarding Gtbank Loans, feel free to leave a comment in the comment section.
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