The GTB auto loan is a GTBank loan that allows corporate entities and salaried individuals with GTBank accounts to pay their vehicle insurance premiums in advance and make repayments over a 12-month period.

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What You Get

• Immediate availability of funds to pay for your insurance premium
• An opportunity to pay for your car insurance premium monthly
• An insurance cover that does not require your presence in the insurance office

Features

• As an individual, you can get access to between N20,000 to N1 million while corporate organizations can get between N20,000 to N5 million
• The loan has a maximum tenor of 1 year
• The loan interest rate is 1.67% monthly
• There’s an equity contribution of 20% of your total insurance premium cost
• There’s a 1% one-off flat fee

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How to Apply for a GTBank Loan

You can submit an application for a GTBank auto loan via the Internet banking platform or GAPS/GAPS Lite.

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Using the GAPS/ GAPS Lite:

1. Your loan is immediately available.
2. Your auto insurer processes your insurance policy within 48 hours
3. A digital copy of your insurance certificate is emailed to you.
4. The loan is repaid on a monthly basis.

Applying for a GTBank Car Loan is a straightforward process.

To get started, follow these steps:

1. Check eligibility requirements: Before applying for a GTB Automobile Loan, ensure that you meet the eligibility criteria. Generally, you must be a GTBank account holder, have a stable source of income, and meet the bank's credit requirements. It's advisable to visit GTBank's official website or contact their customer service for detailed information on eligibility.

2. Gather necessary documents: Prepare the required documents to support your loan application. These may include:

- Completed loan application form: You can obtain the application form from GTBank's website or visit any GTBank branch to request one.
- Valid means of identification: This can be your International Passport, National ID card, Driver's License, or Voter's Card.
- Proof of income: Provide documents that demonstrate your source of income, such as employment letters, pay slips, or bank statements.
- Proof of residence: This can be a utility bill or any official document that shows your current address.
- Proforma invoice or purchase order from the car dealer: This document will provide details of the vehicle you intend to purchase, including the price, make, model, and other relevant information.

3. Complete the application form: Fill out the loan application form accurately and provide all the required information. Double-check the form to ensure it is complete and error-free.

4. Submit your application: Once you have completed the application form and gathered the necessary documents, submit them to GTBank. You can do this by visiting a GTBank branch and handing over the documents to a customer service representative.

Alternatively, you may be able to submit your application online through GTBank's website. Check their official website or contact customer service for the most up-to-date information on the application submission process.

5. Wait for loan approval: GTBank will review your application and assess your eligibility based on their loan criteria. The bank will also evaluate your creditworthiness and the information provided in your application and supporting documents. The loan approval process may take some time, so it's important to be patient during this stage.

6. Loan disbursement: If your loan application is approved, GTBank will inform you about the next steps for loan disbursement. The funds will be disbursed to the car dealer or seller, and you can proceed with purchasing the vehicle.

It's important to note that the application process and requirements may vary over time. It is recommended to visit GTBank's official website, contact their customer service, or visit a branch for the most accurate and up-to-date information on applying for a GTB Automobile Loan.

The Benefits of GTBank Car Loan Without Collateral

1: No collateral required: Traditional loans often require collateral to secure the loan. However, GTBank's car loan scheme breaks free from this norm. You can obtain financing for your car without pledging any assets as security.

This eliminates the stress and hassle of finding valuable collateral and puts car ownership within reach for a wider range of individuals.

2. Flexible repayment terms: GTBank understands that everyone's financial situation is unique. With their car loan scheme, you can enjoy flexible repayment terms that suit your budget and income stream.

Whether you prefer a short-term loan or an extended repayment period, GTBank provides customizable options to ensure that you can comfortably repay the loan.

3. Competitive interest rates: GTBank offers competitive interest rates on their car loans. This means that you can finance your vehicle at affordable rates, saving you money over the course of the loan.

The bank strives to make car ownership an attainable goal for Nigerians, and the low-interest rates make the dream even more realistic.

4. Easy application process: Applying for a GTBank car loan is a simple and straightforward process. You can visit any GTBank branch or complete the application online. The bank aims to provide a seamless customer experience, ensuring that the loan application and approval process is efficient and hassle-free.

5. Quick loan disbursement: Once your loan application is approved, GTBank ensures that the funds are disbursed swiftly. This means you can drive away in your new car sooner rather than later.

GTBank values customer satisfaction and understands the importance of a prompt and hassle-free loan disbursement process.

6. Convenient repayment methods: GTBank offers various repayment methods to ensure convenience and ease. You can set up automatic payments from your GTBank account or make manual payments at any GTBank branch.

These flexible repayment options empower you to manage your loan effectively and stay on track with your financial commitments.

Links To Apply For GTBank Car Loan

To apply for a GTBank Automobile Loan, you can visit their official website and access the loan application section. Here are some useful links that can guide you through the application process:

1. GTBank Official Website: Visit GTBank's official website to explore their car loan offerings and access the loan application section.

2. Automobile Loan Page: Navigate to GTBank's Automobile Loan page for detailed information about the loan product and the application process.
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3. Loan Application Forms: On GTBank's website, you can find the necessary application forms for different loan products, including Car Loans.
Page: [https://www.gtbank.com/personal-banking/loans/application-forms](https://www.gtbank.com/personal-banking/loans/application-forms)

4. Contact GTBank: If you have any specific inquiries or need assistance with the application process, you can reach out to GTBank's customer service via phone, email, or live chat.
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Please note that the provided links are based on the information available to us as of now, It's recommended to visit GTBank's official website or contact their customer service for the most up-to-date and accurate information on applying for a GTB Automobile Loan.