Last Updated on July 1, 2024 by admin
Education is a valuable investment for the future, but the rising cost of tuition and school fees can often pose a financial challenge to parents and students.To address this issue, Guaranty Trust Bank (GTBank) offers a School Fees Advance Loan, designed to provide financial assistance to individuals seeking to fund their education.
This kind of soft and quick loan that ensures that your children/ward never miss one a day at school because their fees are paid promptly along with , uniforms, books, meals , school bus and most importantly, school fees among others.
This lagging challenge prompt Guaranty trust bank to provide parents/guardians with short–term financing to cover tuition fees for their children/wards. The school fees loan can be used to pay for tuition fees for schools abroad
The loan facility is ideal for financing of undergraduate study, postgraduate study and professional examinations known that education is the most important investment you can make in your child’s tomorrow.
The loan is available to members of staff of public and reputable private organizations whose salaries are domiciled with Guaranty Trust Bank plc. Also Staff of selected private companies, Government Ministries, Parastatals and establishments whose salary accounts are domiciled with the Bank can apply to maximum loan amount of N1million applicable per child and minimum loan amount of N50, 000.
Customer must have received their salary through their GTBank account in the last 1 month and the minimum monthly salary of N25, 000 for public sector employee and N50, 000 for private sector employee
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Requirement and Eligibility of GTBank School Fees Advance
1. There is minimum monthly salary of N50, 000 while the maximum loan amount of N1million is applicable per child.
Please note: unconfirmed staff of an organisation can’t apply for School Fees Advance because staff should have worked for at least 6 months and also be a confirmed staff to enable you apply for the loan facility.
2.The loan facility is available to members of staff of public and reputable private organizations whose salaries are domiciled with Guaranty Trust Bank PLC.
3. GTBank School Fees Advance gives a maximum of N5 Million in school fees at a low interest rate.
4. Gtbank school fees loan comes with equal monthly repayments comprising of principal and interest. Each parent is entitled to get one loan per school term with a maximum tenor of four (4) months per request.
Also read:GTBank transfer code *737#: How to create or reset 4 digit PIN and Transfer money from your Phone
How to Apply for Gtbank School Fees Advance
1.Interest customers who’s salary account domiciled with Gtbank can Download the Application Form and Employer Undertaking Form
- Then Submit Completed Application Form and Employer Undertaking Form. on their website
- Provide School Fees bill and Credit Insurance.
- Ensure that staff terminal benefit is domiciled in GTBank or obtain Corporate Guarantee.
OR
Apply for gtbank school fees advance loan through ussd code by dialing :*737*52*30#
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Once your loan application is approved, you will get immediate access to funds for the prompt payment of your child’s school fees (a maximum of N5 Million). This loan comes with equal monthly repayments comprising of principal and interest, which is very competitive. However, each parent is entitled to get one loan per school term with a maximum tenor of four (4) months per request.
FAQs
What’s gtbank school fees loan for you?
1.You get Up to N5 Million School Fees Advance. Maximum tenor of 4 months per request.
2. Very Competitive interest rate. Equal monthly repayments comprising of principal and interest.
3. Immediate access to funds for the prompt payment of your child/wards school fees.
What is the tenor for a School Fees Advance?
The school fees loan by Gtbank has a Maximum of 4 months tenor
What is the required length of salary account relationship?
The customer must have received their salary through their GTBank account in the last 1 month.
Who can benefit from Gtbank School Fees Advance?
Staff of selected private companies, Government Ministries, Parastatals and establishments whose salary accounts are domiciled with the Bank.
What document is required for a Gtbank School Fees Advance?
The application form, employer undertaking and school bill with details of the schools bank account.
How is gtbank school bill paid?
The bill is paid either by a direct transfer to the schools bank account or by raising a draft in the name of the school.
Is there any insurance on the loan?
Insurance is in place against death and permanent disability.
