GTBank has a variety of loan options in Nigeria that are suitable for both personal and commercial use. In the process of selecting the ideal fit, you may become perplexed.

This is why we have compiled this exhaustive list of all available GTB loans and how to apply for any of them. Let's get started, shall we?

GTB Loan Types And How To Borrow Money From GTBank

The categories of loans offered by GTBank include the following:

1.GT Salary Advance

This GTB loan offers up to 50% of your monthly salary in advance. It is only available to personnel of private companies and government agencies with GTBank salary accounts. We have a post that discusses the GTbank remuneration advance in detail.

How To Borrow a GT Salary Advance from GTBank

There are three methods to apply for a salary advance from GT Bank. They include:

• Use the GTBank internet banking platform
• Use the GTB loan code – *737*8*2#
• Visit any branch of GTBank or ATM

2.GTBank School Fees Advance (GTBank Student Loan)

This GTB loan facility, also referred to as the GTBank Student loan, allows you to pay school fees for your child or dependent. The institution must be located in Nigeria as one of the main requirements for accessing this loan.

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This credit facility is accessible to employees of private and public organizations with GT Bank salary accounts. This post provides a comprehensive overview of the student loan facility.

How to Borrow a GTBank Student loan

Complete and submit a form of application and an Employer undertaking.
Provide a receipt for school expenses and credit insurance.
Ensure that your employee's pension is domiciled in GTB.

Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now compare interest rates from various lenders and find the best bargain using our loan simulator? Before committing to a loan, it is necessary to compare different loan offers in order to make an informed choice. Through our simulator, you can view loan offers from multiple lenders in less than 5 minutes, allowing you to make an informed decision about your financing.

3.GTB Quick Credit Loan

Quick credit is a GTB loan for both salaried and self-employed individuals. The GTB fast credit loan facility allows you to obtain cash immediately and repay over a period of 6 to 12 months at an interest rate of 1.33 percent.

We have a comprehensive review that explains everything you need to know about the GTBank Quickcredit facility.

How To Borrow a GTB Quick Credit Loan

• Use the quickcredit GTB loan code – *737*51*51#
• Use any of the GTBank online and mobile banking platforms

4.GTBank MaxAdvance Loan

The GTBank Max Advance Loan is a form of GTBank loan that provides loans to certain private and public sector employees with GTbank salary accounts.

5.GTBank MaxPlus

MaxPlus is a GTB loan that offers a larger loan facility and a flexible repayment schedule. This feature is exclusive to platinum GTbank customers whose salary accounts are domiciled at the bank.

6.Computer Acquisition Scheme

This is a NYSC loan program that provides loans to NYSC members presently serving to finance the purchase of mobile devices. The corps members' allowance accounts must be held at GTBank, and the loan must be repaid within the service year.

How To Apply for The Computer Acquisition Scheme

• Complete and submit an application form
• Submit an Employer undertaking form
• Show proof of domiciliation of your NYSC allowance with GTBank.

7.GTBank Mortgage

GT Mortgage is a mortgage loan in Nigeria that offers loans to consumers whose salaries or business accounts are domiciled with GTBank in order to assist them in home ownership.

Requirements for The GTBank Mortgage

• A completed application form
• The property’s title document
• Offer letter to sell property from vendor
• Get a valuation report from GTBank’s approved estate valuer
• Search report from GTBank legal group

8.GTBank Premium Advance

This overdraft facility is deposited on your Debit Naira MasterCard and is revolving.

Requirements for Getting A Premium Advance from GTBank

• Ensure you are already a platinum customer
• Your average monthly salary must not be less than N1million in the last 6 months
• Also, your annual turnover must not be less than N10million
• Your salary account in the last consecutive 3 months must have been with GTBank

9.GTBank Travel Advance

The Travel Advance is a GTBank loan designed to satisfy the travel needs of customers with GTBank-held salary accounts. This loan may be used for your airline ticket, hotel reservation, airport pickup and transfer, excursions, and special events.

10.GTBank Vehicle Insurance Premium Financing

The GTB auto loan enables salaried individuals and businesses with GTBank accounts to pay their car insurance premium in advance and spread out the repayment over twelve months.

GTBank Loan Calculator

The GTBank loan calculator is a web application that enables you to determine your loan payment. The loan payment will depend on the type and interest rate of the loan.

To utilize the loan calculator, you must enter your loan information (Amount, Interest Rate, Repayment Period). The calculator will then assist you in calculating your monthly payments, total payments, and total interest payments.

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A loan calculator is an indispensable instrument. It enables you to make a more informed decision regarding the most suitable loan package.

Frequently Asked Questions

Among the most frequently asked concerns are the following:

What will happen if I wasn’t able to pay back at the right time?

The exact penalty for failing to repay on time depends on the terms of your agreement. Typically, the penalties are outlined in the terms and conditions of the loan and are implemented upon default. The majority of lenders either increase the interest rate or dispose of the collateral.

On the plus side, loanspotafrica does not require collateral and does not use coercion to enforce repayment after the due date has passed. Because of this, they employ a flexible repayment structure that ensures you will almost never miss the due date.

What questions will I be asked when applying for a loan?

When applying for a loan, lenders are permitted to ask any question relating to your finances, business, or loan purpose. The queries typically revolve around these factors, which are crucial to the success of your loan application.

However, modern lenders, such as loanspotafrica, ask few questions and prioritize providing you with the loan as quickly as  possible

How long will it take to get the money?

This duration is determined solely by your lender. Expect the funds to be disbursed within 24 hours of approval. If you want one of the quickest disbursements, you should consider loanspotafrica, which is among the fastest.

How much loan will I get on my salary?

This is depend on the lender involved. Most lenders prefer to lend to individuals who can repay the loan within the specified time frame. In the case of a payday loan, for instance, the lender may offer you a loan of up to 50 percent of your income. Also in the case of enormous loans, creditors prefer debtors with a substantial income or comparable assets.

ALSO READ: GTbank Salary Advance – Important Information

If you decide to obtain a loan through loanspotafrica, you would not need to worry about your income. This is due to the fact that they offer something for everyone, including loans for the unemployed.

Bottomline

Customers can evaluate some of the finest loans from GTbank. Their loan services are diverse, offering something for everyone, ranging from salary advances to school fees and Maxplus. To get started immediately, visit their app or one of their  offices close to you.