How to apply for Gtbank Payday loan {quickcredit loan}

Last Updated on July 25, 2024 by admin

GTBank Payday Loan is a convenient and reliable financial solution offered by Guaranty Trust Bank to help individuals meet their urgent cash needs.Whether it’s an unexpected medical expense, a home repair, or any other emergency, this loan provides quick  access to funds without the hassle of lengthy paperwork or collateral requirements.

The loan application process is simple and can be done online or through any GTBank branch nationwide. This subtopic will guide you through the necessary steps and requirements to successfully apply for GTBank Payday Loan.

The Quick Credit loan designed to to assist Salary earner who has an active salary account with the bank and non- salary account holders who has actively operated their account for the past 12 Months up to N5million .

Borrower can get up to 3 times monthly salary earnings with a convenient repayment plan of up to 12 months with an Interest rate of 1.5% per month. You can get funds from N5,000 up to N5million, also you are allowed  for Liquidation without penalty and reapply again.

The credit facility package is available in Nigeria, Ghana and other countries.Borrower can apply for Gtbank Quick Credit loan via USSD, Internet Banking and Mobile Banking App.During loan application you are expected to pay Credit Insurance Fee of 1% (One-Off Charge)

Also borrower must not be less than 18 years at loan application date and should not be older than 59 years at loan maturity date. If all requirements are provides during loan application, borrower can Quick Credit immediately after a successful application.

While in Ghana, customer Must have received a minimum monthly salary of GHS800 for at least Three (3) months. For the Bank’s Max Advance customers

Read: How to log Gtbank ATM/POS Dispense Error complaint online without vising banking hall

What are the requirements for Gtbank Quick Credit?

GTBank Quick Credit has different requirements depending on whether you’re a salary earner or not:

For Salary Earners:

•  You must have received your salary through your GTBank account for the last 3 consecutive months.
• Your account should maintain a minimum monthly average balance of ₦25,000 for the past 6 months.
• You need a clean credit report without any unpaid obligations.
•  You must not have any record of returned checks.

For Non-Salary Earners:

• You must have actively operated your GTBank account for at least 12 months.
•  You need to maintain a minimum monthly deposit of ₦20,000.
• CSame as for salary earners, you need a clean credit report without any unpaid obligations.

General Requirements (For Both Salary and Non-Salary Earners):

•  Your Bank Verification Number (BVN) must be linked to your GTBank account.
•  You should be at least 18 years old.
•  Your mobile phone number must be registered with GTBank.

You may also like to read: GTBank transfer code *737#: How to create or reset 4 digit PIN and Transfer money from your Phone

How to Apply for Gtbank Payday loan {Quick credit}

GTBank offers Quick Credit, a type of payday loan, and you can apply for it through several channels:

1. GTWorld Mobile App:

• Log into the GTWorld app on your smartphone.
• Navigate to the “Loans” section.
• Select “Quick Credit.”
• Follow the instructions to complete your application.

2. Internet Banking:

• Log in to your GTBank Internet Banking account.
• Go to the “Loans” section.
• Select “Quick Credit.”
• Fill out the online application form with the required information.
• Submit the application.

3. USSD Code:

• Dial *737*51*51# on your phone.
• Follow the on-screen prompts to provide the required information and complete your application.

Eligibility Requirements:

The eligibility requirements for GTBank Quick Credit vary depending on whether you are a salary earner or not:

• Salary Earners:

  • Must have received salary through your GTBank account for the last 3 consecutive months.
  • Minimum monthly average balance of ₦25,000 for the past 6 months.
  • Clean credit bureau report with no unpaid obligations.
  • No history of returned checks.

• Non-Salary Earners:

  • Must have actively operated your GTBank account for at least 12 months.
  • Minimum monthly average balance of ₦20,000 for the past 6 months.
  • Clean credit bureau report with no unpaid obligations.

Also read: How To Block Nigeria Banks Account Or ATM Card in case of Fraud,theft

Q: Who can apply for Quick Credit?

A: Both salary earners and non-salary earners with an active GTBank account can apply.

Q: How can I apply for Quick Credit?

A: You can apply via the GTWorld app, internet banking, or by dialing *737*51*51#.

Q: How long does it take to get the loan?

A: If approved, the loan is typically disbursed instantly or within 24 hours.

Loan Terms and Repayment:

Q: How much can I borrow with Quick Credit?

A: Salary earners can access up to ₦5 million, while the amount for non-salary earners depends on their transaction history and creditworthiness.

Q: What is the interest rate for Quick Credit?

A: The interest rate is 2.4%  per month

Q: What are the repayment terms?

A: You can choose a repayment period of 6 or 12 months.

Q: How do I repay my Quick Credit loan?

A: You can repay through various channels, including the GTWorld app, internet banking, USSD code, ATM, or by visiting a GTBank branch.

General Questions:

Q: Is Quick Credit available to new GTBank customers?

A: No, you need to have an active GTBank account for a certain period to be eligible (3 months for salary earners, 12 months for non-salary earners).

Q: Are there any hidden charges?

A: GTBank is transparent about the interest rate and terms, so there are no hidden charges. However, be aware of early repayment charges if you decide to pay off the loan before the agreed-upon term.

Q: Can I get more than one Quick Credit loan at a time?

A: Generally, you can only have one Quick Credit loan at a time. You can apply for another one after fully repaying the existing loan.

Q: What happens if I can’t repay the loan on time?

A: Late repayment may result in additional charges and negatively impact your credit score. It’s essential to contact GTBank if you face difficulty repaying to discuss possible options.