How to Qualify for a GTBank Loan: Are you considering obtaining a loan from GTBank? The best place to start is with this article. The leading financial organization in Nigeria, GTB (Guaranty Trust Bank), provides a range of financial services, including loans.
This article covers everything about how you can qualify and apply for a GTBank loan via USSD codes, mobile apps, and online banking. Also, there are different loans and the requirements to qualify for them, so keep reading so you don’t miss any information.
How to Qualify for a GTBank Loan
Before becoming eligible for a Quick Credit loan, a GTBank customer must fulfill a few requirements. A minimum net monthly wage of N10,000 or sustaining a monthly lodgement of N20,000 are both acceptable options. Other factors include the client’s lack of a history of bad checks, good credit scores, and no outstanding debts. Below is what you need to qualify for the GTbank salary advance loan:
- A Guaranty Trust Bank payroll account that has been open and active for at least one month
- Minimum salaries in the public and private sectors are N25,000 and N50,000, respectively.
If you can meet all these requirements, then you are qualified to go for a loan with GTbank. Now let’s proceed to the types of loans, their requirements, and USSD codes for getting them.
GT Salary Advance
The GTB Salary Advance Loan is the first item on the list. Employees of both private businesses and governmental organizations who have open pay accounts with GtBank are eligible for this loan. With a loan term of 30 days and the opportunity to renew every month, you can get up to 50% of your net monthly pay upfront. Also, there is no requirement for collateral to get this GTB loan.
You must possess the following to be eligible for the GTBank salary advance loan:
- A Guaranty Trust Bank payroll account that has been open and active for at least one month
- Minimum salaries in the public and private sectors are N25,000 and N50,000, respectively.
You apply for the GTbank loan through the GTB internet banking portal, USSD code *737*8*2#.
GtBank Advance for School Fees
The only people who can use this loan product are those who want to pay for their child’s or ward’s tuition at schools or institutions in Nigeria. Only individuals whose wages are lodged with the bank are eligible for the loan.
You can obtain up to N5 million with this GTB loan for school expenses, with a maximum term of 4 months per request. The lending product requires equal monthly principal and interest repayments. You must possess the following to be eligible for a GTBank school fee loan:
- A Guaranty Trust Bank payroll account that has been open and active for at least one month
- Minimum salaries in the public and private sectors are N25,000 and N50,000, respectively, for completed application forms.
- Completed employer undertaking form.
- School fee bill.
- Credit insurance.
There is no USSD code for this loan, but you can apply for it through any GT branch.
GTbank Quick Credit
For those without regular income, this GtBank loan is the finest. Both salary earners and independent contractors can use it. With Quick Credit, you may borrow up to N5 million for a term of 6 to 12 months at an interest rate of 1.33% each month. You must possess the following to be eligible for the GTBank Quick Credit loan:
- a Guaranty Trust Bank payroll account that has been open and active for at least one month.
- Minimum salaries in the public and private sectors are N25,000 and N50,000, respectively.
- There is no prior history of bad checks.
- There are no debts to be paid.
- Credit Protection
You can apply for this loan through the GTB internet banking portal, USSD code *737*8*2#, and also the GTBank branch ATM.
GT Max Advance Loan
Employees of specific corporations and governmental agencies having salary accounts with GTB are eligible for this loan. You may borrow up to N10,000,000 with the GtBank Max Advance loan, which is repayable in 3-48 months with equal monthly payments that include principal and interest. You must possess the following to be eligible for the GTBank max advance loan:
- a Guaranty Trust Bank payroll account that has been open and active for at least one month.
- Completed application form.
- Completed employee undertaking form.
This loan does not have any USSD code, but you can apply for this GTbank loan through any GTbank branch.
About the GtBank Loan
Guaranty Trust Bank, a prominent financial institution in Nigeria, provides a loan facility known as the GTBank (Guaranty Trust Bank) Loan. The loan is provided to individuals, small and medium-sized companies, and corporate entities to meet their financial needs.
The loan includes a low-interest rate, a flexible payback schedule, and no additional fees. The highest loan amount available to borrowers is $100 million, and they can utilize the money for different purposes, including paying for personal bills, healthcare, education, and company expansion.
Guaranty Trust Bank Loan is a great choice for those in Nigeria who need financial help because the application procedure is simple and the loan terms are good.
Benefits of a GTBank Loan
Obtaining a GTBank loan has several advantages. Among these advantages are:
- Access to capital is made possible through a GTBank loan, which enables people or companies to finance their initiatives.
- Flexible loan repayment terms: The flexible loan repayment terms offered by GTBank make it simpler for borrowers to make loan payments on schedule.
- Quick approval: Because GTB loans have a rapid approval rate, applicants may quickly get the money they want.
- Low-interest rates: GTB loans have low interest rates, making loan repayment more feasible for borrowers.
- No collateral is needed. There is no requirement for collateral for a GTB loan; therefore, borrowers are not obliged to put up any assets as security for the loan.
- Easy application procedure: You may apply for a GTB loan online or in person, and the process is straightforward.
Frequently Asked Questions
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How much money can I get through GTB?
The loan amount varies depending on the type of loan and the creditworthiness of the borrower, but it normally falls between $10,000 and $5,000,000.
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How long does it take to get a GTB loan?
Depending on the kind of loan, the processing period might range from a few days to several weeks.
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Can I submit an online GTB loan application?
Yes, you may submit an online application for a GTB loan using the bank’s website or mobile app.
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What happens if I don’t repay my GTB loan?
Penalties, legal action, and credit score harm may follow non-repayment of a GTB loan.
