Updated on October 24, 2023
Want a reliable, hassle-free loan? GTBank Loan’s got you covered! This guide breaks down how to get a loan from GTBank, whether it’s for personal goals, business dreams, or education.
We’ll be exploring the GTBank Loan universe, and how it can help you with your financial issues. We’ll discuss the GTBank loan application process, eligibility criteria, and the fantastic benefits GTBank Loan offers.
Say goodbye to money worries and hello to endless possibilities with GTBank Loan. Together, we’ll embark on this empowering journey to make your dreams come true.
GTBank offers personal and business loans in various flavours. In this post, we’ll discuss how to apply for a GTBank loan, the GTBank loan code, and all the GTBank loan types available.
How to Loan Money from GTBank
There are 3 main ways to get a GTbank loan; they include, USSD, Internet banking and the GTbank mobile app. Here are the steps to follow to apply and get a loan from GTBank:
1. USSD Code for GTBank Loan
You can use this GTB loan code: *737*8*2# to apply for any type of GTBank loan. While for the GTbank Quick Credit loan, use this USSD code *737*51*51# to apply.
See: How to get GTB POS MAchine & Start POS Agent Business with GTBank
2. How to Get a Loan From GTBank with Internet Banking
You can get a loan from GTBank using GTB’s internet banking by following these steps:
- Login to your GTBank Internet banking
- Click on Loans
- Next, Click on “New Request“
- Select the account the loan should enter
- Then click on Determine eligibility
- Next. Click on “Click here to Apply for maximum eligibility amount” or Enter “loan amount“
- Select “Click here to Agree to Terms & Conditions“
- Provide the answer to the Secret Question
- Then Click Continue
- Enter your Token Code
- Finally, Click Submit
3. How to Get a Loan From GTBank with GTBank Mobile App (GTWorld)
- Login to any of the GTbank mobile app
- Click Apply for Loan option
- Select the Loan type you want
- Then complete the displayed form with your loan amount and loan tenor
- Click submit to complete your loan request
GTBank Loan Interest Rates
Gtbank offers a wide range of loan products. From personal to business loans.
Gtbank personal loan interest rates are around 1.33% while business loan interest rates can reach up to 16% per annum. GTbank offers some of the best bank loan products in Nigeria.
See: GTBank Loan for Non-Salary Earners
GTBank Loan Code
GTBank has different loan codes for different types of loans. The loan code for the GTbank salary loan is *737*8*2#. While for GTBank Quick credit loan, the USSD code is *737*51*51#.
Also See: What is the GTBank Transfer Code to Other Banks
GTB Loan Products
GTbank has a wide array of loans that are suitable for different purposes. From business to personal loans. Here are the loans that GTbank offers.
GTbank Personal loans
1. GT Salary Advance
GT Salary Advance is available to staff of private companies and government agencies who have active* salary accounts with GTbank. GT Salary Advance loan provides up to 50% of your net monthly salary upfront.
The loan tenure of 30 days and has an option for renewing monthly. You don’t need collateral to access this GTB loan.
To be eligible for this loan, you need a minimum salary of N 25,000 for the public sector and N 50,000 for private-sector employees.
Also See: How to Block GTB ATM Card
2. GTBank School Fees Advance
GTbank School Fees Advance is a loan product for people looking to pay for their child’s/ward’s school fees for schools/institutions in Nigeria only.
This loan is only for those whose salaries are domiciled with the Bank. With this GTB loan, you can get up to N5 Million for School Fees.
The Maximum tenor of this loan is 4 months per request. This loan product involves equal monthly repayments comprising the principal and interest.
3. Quick Credit – Best GTBank Loan for Non-Salary Earners
GTbank Quick Credit is the bank’s personal loan product that is available to both salary earners and self-employed people (non-salary earners). This is the best GTBank loan for non-salary earners.
With Quick Credit, you can now get instantly get the cash you need.
You can get up to N5 million at an interest rate of 1.33% monthly. This GTB loan tenure is between 6 – 12 months.
4. GTBank Max Advance Loan
GTbank Max Advance is a personal loan product designed for staff of select corporate and government organizations who have salary accounts with GTB.
With a GTBank Max Advance loan, you can get up to N100,000 to N10,000,000. Repayable in 3-48 months with equal monthly repayment comprising principal and interest.
Checkout: How to Check Nirsal Loan with BVN
5. GTBank Premium Advance
GTbank Premium Advance loan is for its Platinum card-carrying members only, who have an average salary of N1 million in the last six months.
GTB also requires that you should have received your salary through your GTbank Account in the last three consecutive months.
GTbank Premium Advance is an overdraft accessible via Naira Debit MasterCard (for ATM withdrawals, POS purchases, and web payments).
Also See: How to Check BVN on GTBank
6. GTBank Mortgage Loan
GTMortgage loan is for GTB customers whose salaries or business proceeds are domiciled with the Bank.
With a GTBank mortgage loan, they can own a home in selected cities within the country.
See: List of Mortgage Banks in Nigeria
GTBank Business Loans
Here are the GTBank Business loans you can get in Nigeria:
1. Build or Buy Loans for Schools
This is a long-term loan facility for assisting established and well-structured schools in expanding their landed properties to meet obvious or anticipated business demand. The loan tenure for this loan is 3 to 10 years.
The loan amounts are from N20,000,000 to N400,000,000. The school will have to contribute 30% equity. They will also have to make a quarterly repayment of principal and a monthly repayment of Interest.
2. Fashion Industry Credit
GTbank Fashion Industry Credit is a single-digit interest rate loan at 9% that is strictly for entrepreneurs in the fashion industry.
You can get up to N5 Million for your fashion business with this GTbank loan product. It also confirms a flexible repayment plan spread over 360 days.
3. GTbank Food Industry Credit
GTbank Food Industry Credit is a single-digit interest rate loan of just 9% per annum. It is a loan product for food businesses?
You can get up to N2 million from this GTbank loan. The repayment plan of this loan is spread over 180 days and it comes with zero fees.
4. SME Invoice Discounting Finance (SME IDF)
5. Overdraft
GTbank Overdraft is a line of credit that allows a customer (business) to write cheques for more than the actual balance on the account with a finance charge on the excess. It is an open credit which can be used repeatedly until the balance on the account reaches a certain pre-arranged limit with a specific repayment date, usually one year.
The funds available through GTB Overdraft are usually available for your use for a tenor of one year but it can be renewed upon satisfactory performance.
79 People are Reading: 20 Best SME Loans in Nigeria for Your Business
6. QuickCredit for Small Business
This GTbank loan product is aimed at financing the working capital (i.e funds needed for day-to-day needs) of SMEs in the Education (creche, primary & secondary schools) and Healthcare (Hospitals, Retail Pharmacies, and Diagnostic Centres). The interest rate is 1.33% per month (16% per annum). The Loan tenure is 6 months (12 months for schools)
You’ll need to open a corporate account and operate it for 12 months before applying for the credit facility.
Also See: Best Business Loans in Nigeria
GTBank Loan Calculator
The GTBank loan calculator is a web app for determining or estimating what your GTbank loan payment will be. The GTBank loan calculator will ask you to enter your loan information; like the loan amount, interest rate, and repayment period.
After this, it will calculate and display your monthly payments, your total payments, and your total interest payment.
How do I Repay a GTbank Loan?
When you take a GTbank loan, you give GTB the authority to automatically deduct your monthly loan repayment from your bank account when due. So you don’t have to do anything.
On the due date each month, the GTBank system will deduct the amount due for that month. However, if you do not have money in your bank account on the due date, GTbank will still remove the due amount, leaving your account with a negative balance. Defaulting will also be reflected in your credit report.
How to Borrow Money from GTBank?
You can get a GTbank loan by simply login into Internet Banking Or by dialling *737*8*2# to apply. You can also visit any GTB branch or ATM near you.
Code to Liquidate GTBank Loan?
The code to liquidate your GTBank loan is *737*51*55#. Dial the code and follow the instructions.
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