GTbank, one of the Largest Commercial Banks in Nigeria is offering a loan service for everyone, Whether you are self-employed or a salary earner, you can get an instant loan from GTBank Quick Credit. With GTBank Quick Credit, you can get a cash loan and pay it back within a period of six to twelve months.
GTBank Quick Credit gives you loans from as low as ₦5,000 to as high as ₦5,000,000. The interest rate is 1.5% for the GTBank Quick Credit and there are no hidden charges.
So what’s in it for you with the GTBank Quick Credit?
By taking a loan with the GTBank Quick Credit;
1. You can get up to three times your average monthly salary.
2. You can pre-liquidate your money without facing any penalties.
3. You can conveniently repay the loan after 12 months.
4. The interest rate is 1.5%, which is a favorable bid for both the creditors and the borrower.
How Can I Apply For The GTBank Quick Credit?
To apply for the GTBank Quick Credit, you can place your request by dialing *737*51*51#
Conversely, you can apply for the GTBank Quick Credit on the certified GTBank online Banking Apps and on all the mobile banking platforms of the Bank that is the Internet Banking, GTWorld, and GTBank Mobile App
Frequently Asked Questions (FAQs)
Below is all you need to know about the GTBank Quick Credit.
1. What is GTBank Quick Credit?
GTBank Quick Credit is a loan service available to salary earners, self-employed, and non-salary account holders of GTBank.
2. What is the minimum loan amount under the GTBank Quick Credit?
The minimum amount of loan you can get with the Quick Credit service of GTBank is ₦5,000.
3. What is the maximum loan amount under the GTBank Quick Credit?
The maximum amount of loan you can get with the Quick Credit service of GTBank is ₦5,000,000 for salary earners and ₦500,000 for non-salary Account holders.
4. What is the maximum tenor for the Quick Credit?
The maximum tenor for the Quick Credit is between 6 – 12 months.
5. What interest rate will I be paying if I use the GTBank Quick Credit loaning service?
The interest rate is 1.5% each month.
6. Are there any other fees I will be paying asides from the interest rate?
You will be required to pay a Credit insurance fee of (1%) which is a one-off fee.
7. How can I get access to the GTBank Quick Credit?
You can access the Quick Credit with any of the following:
- Internet Banking
- USSD Code
- Mobile Banking App
8. Is there a minimum or maximum age for obtaining a loan?
The applicant of the loan should be less than 18 years at the time the loan was collected or above 59 years at the loan maturity date.
9. Can I apply for GTBank Quick Credit if I still have an existing loan with other Banks or Remitta Platforms?
Yes, you can apply for GTBank Quick Credit with an existing loan in other financial institutions.
10. How long does it take to access the Quick Credit?
After a successful application for the Quick Credit service, your loan will be made available to you.
11. What are the criteria to access the Quick Credit Loan services?
- 1. Customers must maintain a minimum net monthly salary of ₦10,000 or a monthly lodgement of ₦20,000
- 2. Customers must not have any history or record of dud cheques
- 3. Customers must not have any unpaid or unsettled obligations.
- 4. Customers must have satisfactory credit reports
Definition Of Terms Used
1. The Borrower: This refers to the GTBank Quick Credit Loan applicant
2. Lender: The financial institution awarding the loan which is Guaranty Trust Bank Limited (GTBank)
3. Facility Type: The type of Loan services that the borrower wishes to apply for and in this case, it is Quick Credit
4. Loan Purpose: The intent of the borrower for obtaining the loan
5. Interest Rate: The rate or percentage that GTBank profits from awarding loans to their customers. For the Quick Credit, the interest rate is 1.5% per month and approximately 18% per annum
6. Tenor: The period during which the borrower can repay the loan without any penalties or incurring additional charges.
7. Repayment: The time or duration for returning the loan and interest rate charges. Equal monthly repayment consisting of the principal and interest is allowed. Pre-liquidation does not incur any penalties.
8. Credit insurance: As earlier stated this is a one-off payment fee of 1% of the principal amount borrowed
9. Security: Domiciliation of the Borrower’s salary with GTBank. This means that the borrower’s salary will be synced with GTBank such that deductions will be made from the borrower’s salary to fulfill the borrower’s loan obligations.