Updated on September 14, 2023
Learn what the GTBank Loan Code is in Nigeria and how to use it.
In today’s fast-paced world, financial institutions are constantly looking for ways to make banking simpler and more convenient for their customers. One such innovation that has gained popularity in Nigeria is the use of loan codes to access quick loans.
Among these institutions is GTBank, a leading bank in Nigeria that has made accessing loans even easier with its GTBank loan code. This code allows customers to request and receive loans without the hassle of paperwork or the need to physically visit a bank branch.
As one of the largest banks in Nigeria, GTBank has always been at the forefront of innovation when it comes to banking solutions. Their GTBank loan code is no exception, offering customers a fast and easy way to access loans without the usual hassle and paperwork.
The GTBank loan code gives you the ability to secure a loan, right from your phone, with minimal fuss and maximum convenience. Whether you aspire to remodel your home, jumpstart your business, or embark on an adventure.
If you’re a dedicated salary earner with dreams to chase or an enterprising spirit ready to seize opportunities, having swift access to loans can be your financial superpower.
In this article, we will explore the GTBank loan code in Nigeria its benefits and how it has revolutionized the lending process for customers.
What is GTBank Loan Code
The GTBank loan code is a unique USSD code that allows customers to request and receive loans from the bank. To access the service, customers simply need to dial the code on their mobile phones and follow the instructions that appear on the screen.
The loan amount and repayment terms are determined by the customer’s credit rating and financial history. One of the key advantages of the GTBank loan code is the speed and convenience it offers.
With just a few clicks, customers can access loans of up to N5 million, which are disbursed within minutes. This means that customers can easily take care of urgent financial needs without having to go through the lengthy process of visiting a bank branch or filling out paperwork.
To use the GTBank loan code, customers must have an account with the bank and must have registered for the bank’s mobile banking service. They will also need to have a good credit history and be able to provide the necessary documentation to prove their identity and income.
GTBank Loan Code for Non Salary Sarners & Salary Earners
The loan code for the GTbank salary loan is *737*8*2#. While for the GTbank Quick credit loan, the USSD code is *737*51*51#.
Benefits of the GTBank Loan Code
Apart from the speed and convenience it offers, the GTBank loan code also comes with a number of other benefits. These include:
- No collateral needed: With the GTBank loan code, customers do not need to provide collateral to secure their loans. This makes it a great option for those who do not have assets to pledge as collateral.
- Low-interest rates: GTBank offers some of the lowest interest rates on loans in Nigeria, making it an affordable option for customers.
- Flexible repayment terms: The bank offers flexible repayment terms on its loans, allowing customers to choose a repayment period that suits their financial situation.
- Easy application process: The application process for the GTBank loan code is straightforward and easy to follow. Customers can apply for loans from the comfort of their own homes, without having to visit a bank branch.
- High loan limits: With the GTBank loan code, customers can access loans of up to N5 million. This makes it a great option for those who need large sums of money for business or personal expenses.
Also See: What is the GTBank Transfer Code
How to Use the GTBank Loan Code
To use the GTBank loan code, customers must first register for the bank’s mobile banking service. This can be done by visiting a bank branch or by downloading the bank’s mobile banking app.
Once registered, customers can dial the loan code (73751*51#) and follow the instructions that appear on the screen. They will need to provide their personal information, including their name, address, and contact details. They will also need to provide information about their employment status and income.
After submitting their application, the bank will review the customer’s credit history and financial situation to determine their eligibility for a loan. If approved, the loan amount will be disbursed to the customer’s account within minutes.
The GTBank loan code is a great option for customers who need quick access to funds without the hassle of paperwork or collateral. With its low-interest rates, flexible repayment terms, and high loan limits, it offers a number of benefits to customers. The application process is easy and straightforward, making it accessible to a wide range of customers.
However, it is important to note that taking out a loan is a serious financial commitment. Customers should carefully consider their ability to repay the loan before applying. They should also be aware of the terms and conditions of the loan, including the interest rate and repayment period.
Overall, the GTBank loan code is a great option for customers who need access to funds quickly and easily. With its innovative approach to lending, GTBank has once again demonstrated its commitment to providing its customers with the best possible banking solutions.
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: How to Get a GTBank POS Machine And Start POS Agent Business
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.
List of GTbank Personal loans
These are the personal loans that GTBank offers to its customers:
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.
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 of the principal and interest.
3. QuickCredit – 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 N5million 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 the 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 & Interest.
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)
6. GTBank Mortgage Loan
GTMortgage loan is for GTB customers whose salaries or business proceeds are domiciled with the Bank.
With a GTMorgage loan, they can own a home in selected cities within the country.
Checkout: List of Mortgage Banks in Nigeria
GTBank Business Loans
Here are the business loans that GTBank offers:
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 they can be renewed upon satisfactory performance.
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.
How to Get a Loan From GTBank
Here are the different ways to apply for and get a loan from GTBank in Nigeria:
Apply for GTBank Loan using USSD Code
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.
Apply for GTBank Loan Using Internet Banking
- Login to your GTBank Internet banking
- Click on Loans
- Next, Click on “New Request” and 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 Secret Question
- Then Click Continue
- Enter your Token Code
- Finally, Click Submit
Get GTB Loan Using GTBank Mobile App (GTWorld)
- Login to any of the GTbank mobile app
- Click Apply for the 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 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 period of repayment.
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 reflect in your credit report.
How to get a GTbank Loan?
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 for GTbank Loan?
The code for GTBank loan is *737*8*2#
Code to Liquidate GTBank Loan?
The code to liquidate GTBank loan is *737*51*55#. DIal the code and follow the instructions.
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