Whether you’re looking for extra money to pay bills,take a vacation or Quick Credit for Small Business it can be stressful if you don’t know what your choices are especially getting a personal loan from a bank .
Are you Guaranty Trust bank customer searching for how to take a loan for your small business or pay for your bills with an interest rate that’s usually low.
Whether you are a salary earner or self-employed, you can now get the cash you need instantly, and pay back over six to twelve months with Gt bank Quick Credit which gives you funds up to N5million at an interest rate of 1.33% monthly.
Guaranty trust bank Quick Credit is a time loan accessible to Salary and non- salary account holders which include Small medium scale Business. However, Borrower should not be less than 18 years at loan application date and should not be older than 59 years at loan maturity date.
The QuickCredit for Small Business offer by Gtbank aimed at financing the working capital (i.e funds needed for day to day needs) of SMEs in the Education (creche, primary & secondary schools) and Healthcare (Hospitals, Retail Pharmacies and Diagnostic Centres).
What is the criterion to access Gtbank quick credit loan?
Before customers can apply for this loan facility the following procedure must be fulfilled.
1.Customer must maintain a minimum monthly lodgement of N20,000 or earn a minimum net 2.monthly salary of N10,000
3.Customer must not have any history of dud cheques
4.Customer must have satisfactory credit reports
5.Customer must not have any unpaid loan
The loan Repayment for small business is structured in two ways: Monthly interest payments and quarterly principal repayments (option is only available for schools) Equal monthly repayment of principal and interest
You can get a loan for the same principal amount from different lenders, but if either or both the interest rate or term vary then you’ll be paying a different amount of total interest
Though before you apply for any loan, interest rate, duration and repayment method should be considered. A simple way to calculate your loan interest is to multiply the principal amount by the interest rate and time periods . However, not all loans are designed this way, and you may need to use a calculator for loan amortization or an annual percentage rates to determine how much you will end up paying over the term of the loan
How to apply for Gtbank quick credit loan
You can get Quick Credit by simply dial *737*51*51# from the phone line that is linked to your bank account.
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Quick Credit is also available on all GTBank online and mobile banking platforms (Internet Banking, GTWorld, GTBank Mobile App).