GtBank offers quick and convenient loans to both individuals and businesses in Nigeria. You can get a loan using your phone without needing collateral. Let’s explore how to apply for a GtBank loan, the types of loans available, eligibility, interest rates, and repayment.
Types of GTBank Loans
GtBank provides various loan options for different needs. For personal loans:
- GT Salary Advance: Up to 50% of your salary in 30 days, no collateral.
- GtBank School Fees Advance: Up to N5 million for school fees, with 4-month repayment.
- GtBank Quick Credit: Non-salary earners can get up to N5 million at 1.33% interest per month.
- GtBank Max Advance Loan: Up to N10 million repayable in 3-48 months.
- GtBank Premium Advance: Overdraft for Platinum cardholders.
For business loans
- Build or Buy Loans for Schools: Long-term loan for expanding schools.
- Fashion Industry Credit: Low-interest loan for fashion entrepreneurs.
- GtBank Food Industry Credit: Low-interest loan for food businesses.
- SME Invoice Discounting Finance: Cash flow support for businesses.
- GtBank Overdraft: Line of credit for businesses.
Eligibility Criteria to apply for a loan at GTBank
To apply for a GtBank loan, you need to be at least 18, have an active GtBank account, a source of income, and a good credit history.
How to Apply
You can apply for a GtBank loan using different methods:
- USSD Code: Dial 7378*2# and follow the prompts to enter details and loan amount.
- GtBank Mobile App: Login, select “Apply for Loans,” choose loan type, amount, and tenor, then submit.
- GtBank Branch: Visit a branch, fill out an application form, provide documents, and wait for approval.
Interest Rates
Interest rates vary depending on the loan type. For personal loans, it ranges from 1.3% to 2% per month, while business loans range from 9% to 16% per annum.
Repayment
Repaying your GtBank loan is easy. Ensure sufficient funds in your account on the due date, and GtBank will deduct the loan amount automatically. You’ll receive a confirmation notification.
Conclusion
Getting a loan from GtBank is straightforward and convenient. Choose the loan type that suits your needs, apply through the provided channels, and enjoy the benefits of quick access to funds.
FAQs
How much can I borrow from GtBank?
Loan amounts vary based on the type of loan and eligibility.
Can students get loans from GtBank?
Yes, students can get loans if they meet the bank’s criteria.
How do I borrow 5k from GtBank?
Dial 73751*51# to borrow N5,000.
What’s the code for GtBank salary advance?
The code is 7378*2#.
How can I check my eligibility?
Dial 73751*51# to check your eligibility.
What’s the code to borrow a loan?
Dial 7378*2# to borrow a loan from GtBank.
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