GTBank Loans in Nigeria: Types and How to Apply
If you need a loan for personal or business use, GTBank offers a variety of loan types that might suit your needs.
However, it can be challenging to select the right loan from the options available.
In this article, we will provide a comprehensive guide to all the GTB loan types and how you can apply for them.
GTBank Loan Types
GTBank offers a wide range of loans, including:
1. GT Salary Advance
If you need an advance on your monthly salary, the GT Salary Advance is a loan type to consider.
This loan is only available to private and public sector employees who have their salary accounts with GTBank.
You can get up to 50% of your monthly salary upfront with this loan.
How to Apply for a GT Salary Advance
There are three ways to apply for this loan:
– Visit any GTBank branch or ATM
– Use the GTBank loan code: *737*8*2#
– Use the GTBank internet banking platform
2. GTBank School Fees Advance (GTBank Student Loan)
If you have a child or ward in a Nigerian school, the GTBank School Fees Advance might be a helpful loan type for you.
It is available to private and public sector employees who have their salary accounts with GTBank and need to pay school fees for their children or wards in Nigeria.
To access this loan, you need to provide the school fees bill and credit insurance.
Check out our detailed guide to GTBank Student Loan to learn more.
How to Apply for a GTBank Student Loan
To apply for this loan:
– Fill and submit an application form and an employer undertaking form
– Ensure that your staff terminal benefit is domiciled in GTBank
3. GTB Quick Credit Loan
The GTB Quick Credit Loan is a loan facility available to both salary earners and the self-employed.
You can get cash instantly with this loan and repay over a period of 6-12 months at an interest rate of 1.33%.
Check out our detailed guide to GTBank Quickcredit to learn more.
How to Apply for a GTB Quick Credit Loan
To apply for this loan:
– Use the quickcredit GTB loan code: *737*51*51#
– Use any of the GTBank online and mobile banking platforms
4. GTBank MaxAdvance Loan
If you are a select employee of a private or public organization, the GTBank MaxAdvance Loan might be a suitable loan type for you.
This loan type is only available to employees who have their salary accounts with GTBank.
5. GTBank MaxPlus
If you are a platinum GTBank customer with your salary account domiciled with the bank, you can access the GTBank MaxPlus loan.
This loan type offers a larger loan facility and a convenient repayment plan.
6. Computer Acquisition Scheme
If you are a currently serving member of the National Youth Service Corps (NYSC), you can access the Computer Acquisition Scheme loan.
This loan type is available to corps members who have their allowance accounts domiciled with GTBank.
The loan repayment must be completed within the service year.
How to Apply for the Computer Acquisition Scheme
To apply for this loan:
– Fill and submit an application form
– Submit an employer undertaking form
– Show proof of domiciliation of your NYSC allowance with GTBank
7. GTBank Mortgage
One of the most sought-after loan services by GTBank is the Mortgage Loan.
This loan is designed to help customers own their homes by providing them with the necessary funds.
To apply for a Mortgage Loan with GTBank, you will need:
– A completed application form
– The property’s title document
– Offer letter to sell property from vendor
– Valuation report from GTBank’s approved estate valuer
– Search report from GTBank legal group
8. GTBank Premium Advance
The Premium Advance is a revolving overdraft facility that is placed on your Debit Naira MasterCard.
This loan service is available for platinum customers who have an average monthly salary of not less than N1 million in the last 6 months and an annual turnover of not less than N10 million.
Also, your salary account in the last consecutive 3 months must have been with GTBank.
9. GTBank Travel Advance
If you are looking to finance your travel expenses, then the Travel Advance is the loan for you.
This loan is designed to meet the travel needs of customers with salary accounts domiciled with the bank.
The loan can be used for airline tickets, hotel reservations, airport pickup and transfer, tours, and events.
10. GTBank Vehicle Insurance Premium Financing
The GTB car loan enables salary earners and companies with GTBank accounts to pay for their car insurance premium upfront and spread the repayment over a 12-month period.
GTBank Loan Calculator
The GTBank loan calculator is a web application that helps you calculate how much your loan payment will be.
The loan payment will depend on the kind of loan and its interest rate.
With the loan calculator, you can input your loan information (Amount, interest rate, period of repayment), and the calculator will help compute your monthly payments, total payments, and total interest payments.
Frequently Asked Questions
Some of the most frequently asked questions about loans include:
What will happen if I wasn’t able to pay back at the right time?
The penalties for not paying back on time depend on your agreement with the lender.
However, most lenders either increase the interest percentage or sell off collaterals.
At GTBank, the repayment structure is flexible, which ensures that you almost never miss the deadline.
What questions will I be asked when applying for a loan?
Lenders may ask about your finance, business, or loan intent when applying for a loan.
At GTBank, the questions are minimal, and the focus is on getting the loans to you as quickly as possible.
How long will it take to get the money?
The duration of loan disbursement solely depends on your lender.
Once approved, expect the money to be disbursed within 24 hours.
At GTBank, disbursement is quick and efficient.
How much loan will I get on my salary?
The loan amount you can get depends on the lender.
Most lenders prefer to lend individuals sums that they can repay within the stipulated time.
At GTBank, there is something for everyone, including loans for those without a source of income.
GTBank offers some of the best loans for its customers to assess.
From salary advance to school fees and Maxplus, their loan services are diversified, meaning there’s something for everyone.
To get started today, simply visit their app or any of their offices close to you.
With GTBank, you can achieve your financial goals.