Getting loans at Access bank is quite easy when compared to some banks, as the loan processing is quite easy, there are various types of loans available at Access bank to satisfy your needs. we now have to look at the various types of loans offered by access bank.
Types of loans offered by Access bank
Access bank business loans
This is the type of loan given to customers for doing business. We have the following
1. Creative Sector Loan
The creative sector loan is a Central Bank of Nigeria initiative aimed at capacity building and employment creation for individuals and businesses currently into any of the following areas:
- Movie Production
- Movie Distribution
- Software Engineering Student.
How to apply for creative sector Access bank loan
Get your business plan ready. The plan must include how much you need for your business.
Walk into any Access bank branch with the document, you can also apply online through the Creative sector loan portal HERE
You’ll be contacted by access bank, for a small interview after which your loan maybe approved or rejected.
Interest and repayment period
Maximum interest rate of 9% per annum (lincuding charges applicable on all loans.
Terms for the repayment period is a maximum of:
i. 3 years for Software Engineering Student Loans
ii. 10 years for Movie Production & Distribution, Fashion, Information Technology and Music
2. Lending Against Turnover
LATO access bank loans another type of Access bank loan available, this type is a quick and fast loan without no application, no long processing time, most the loans are instantly approved. With LATO, you can get access to instant cash by dialling *901*11#
You only need to have access bank account for atleast 6 months.
How to apply for LATO Access bank loan
Dial the USSD code *901*11#
Follow the prompts, and register
No collateral required
You can borrow a minimum of 5000 Naira and Maximum of 300,000 Naira.
3. Access bank Personal Loan
This is another type of loan available for Employees. Repayment is based on monthly salary. You get what up to 30 months to pay back depending on the amount of money you borrowed.
How to apply for Access bank Personal loan
Walk into any branch and collect Application Form
Make sure you have Employee Status Inquiry/Employer’s Confirmation Form
Evidence of employment and confirmation
Copy of Employment ID and valid govement ID.
Must have BVN
4. Access bank Instant loan
Acces bank Instant loan is a type of loan that is fast and quick, no physical presence required, no form nor collateral required. All online or via the quickbuck app.
Types of Access bank Instant loan
I. Payday loan
Ii. Salary Advance
iii. Small Ticket Personal Loan
iv. Device Financings
i. Payday loan
Access bank Payday loan is another type of instant loan offered by Access bank. This loan is instant. You don’t even need to have an account with Access or Diamond bank to obtain this Payday loan. What you need is your BVN and for you to be loan free.
How to apply for Access Payday loan
Dial *901*11*1# or via Internet Banking. Or
Download the Quickbucks app
After which you can apply for the loan through that app.
Repayment is upto 31 days.
How much can you get ? you can get is 75% of your monthly salary, less any active loans at the Bank. Your eligibility will be shown when you request for the loan.
ii. Salary Advance
Is another type of instant loan that can loan you your salary in advance, you don’t have to do any other thing, no collateral, loan is giving instantly without going to any branch.
How much can you get?
You can get 200% of your net salary and repay within 6 months.
How to apply for Salary Advance loan
You can get a Salary Advance Loan through any of the following ways:
Dial the USSD code *901*11*1# pr
Download the QuickBucks App, on Google Playstore or Apple App Store.
The interest rate for Salary advance is 1.9%. Other charges are: 1% Management fee, 0.20% Credit life insurance.
iii. Small Ticket Personal Loans
Get up to 400% of your net monthly salary and repay for 12 months with this type of Access bank Instant loan.
How to get STPL loan
You can request for a STPL through any of the following ways:
Dial the USSD code *901*11*1#
Download the QuickBucks App, available on Google Playstore or Apple App Store.
iv. Device Financings
Do you need to get a device? And there is no money to buy what you want? Well this type of Access bank Instant loan is for you. You can now upgrade your phone easily, repay gradually.
Download the Quickbucks app.
Input your email address and BVN linked phone number
An OTP will be sent to you via SMS for verification. Upon verification, create an app password (used to log into the app) and PIN (used in transacting)
Enter your personal details such as location, address, name, salary account name and number, BVN etc. Then agree/consent to terms and conditions
Click on the ‘device finance’ console. Select the phone of your choice and fill in required details
Click on ‘get this device’. Accept the T&C
You’ll receive a transaction code via email with other requirements for pickup of device.
5. Access bank car loans
i. Access More Mileage
This type of loan is for buying a brand new car ₦170,000 will be deducted from your account every month, until payment is completed.
How to Access more Mileage loan
Get the Application form at the nearest bank.
Pro-forma Invoice in the name of “Access Bank Plc. / Customer”
Valid means of ID
Letter of Introduction (for salaried customers)
Domiciliation of salary account with Access Bank (for salaried customers)
Employer’s Confirmation and Undertaking Form (for salaried customers)
Recent Pay Slips / Salary Bank Statement (for salaried customers)
Recent 2-year audited/management account (for business owners)
Bank Statements from other banks (for business owners)
Personal Guarantee of a director of the company (for corporates only)
Board Resolution (for corporates only)
ii. Eazy Buy Finance Scheme
You are restricted to buying a particular brand of car, not the car of your choosing. Currently the GAC GS3 or GAC GA4 at a low interest rate is available.
How to apply
Same procedure and requirement with the other car loan above.
iii. Hyundai Auto Loan Promo
This type of Access bank car loan is for selected Hyundai cars. Especially fit for salary earners.
Payment plan for up to 3 years, with monthly repayment as NGN180,000
Free vehicle registration
Free vehicle delivery PAN Nigeria
You get a 5-year warranty or 100,000 kms (whichever comes earlier)
3 times maintenance free.
6. Access bank cash flow loan
With access bank cash flow loan you’ll get money while kee
ping your investment in the bank.
Are you in need of cash urgently
Provided you have an investment with the bank you can get this loan especially if you want to use for emergency.
You can access instant cash-backed loans by dialing *901*11*2
Repayment is spread of 12 months period.
Access bank home loans is designed to help customers get their dream homes in three cities in Nigeria
Lagos and Abuja all in Nigeria.
To apply for home loan walk into any Access bank branch and collect the form to get started.
Access bank loan ussd code
Access bank like other Banks has a central code for all types of instant loans.
Dial the ussd code Dial *901*11*1# and send, from there the type of instant loan you’ll like to get.
Access bank loan requirement
Depending on the type of loan these are some of the major requirements.
Most be an account holder either in Access or Diamond bank for instant loan.
Most have valid means of ID
Must have BVN which must match the number used in opening an account.
Access bank loan interest rate
The loan repayment schedule is flexible, most interest rate doesn’t cross the percentage benchmark. Which is
3%. Except advance school fees loan which is 30% per annum. Other charges are: 1% Management fee, 0.20% for Credit life insurance.
how to pay back access bank loan
Access bank will simply deduct your money once it enters your account automatically to service the loan you took.
You don’t need to do any other thing else.