The Access Bank loan code can be used for the majority of purposes. Most time in life even as a salary earner, you can still get to a situation where you urgently need money to solve a problem, and you are left with no option but to borrow. You can always borrow money from some of the best Loan apps we have previously written about but if you have issues trusting those apps then you can borrow from a bank since it’s very trusted and reliable.
Since you actually prefer borrowing from the bank to other lending agencies, which is actually why you are here, then you should consider reading this article till the end because, in this article, we will be explaining everything you need to know about the Access Bank loan, Access Bank Loan Code To Apply for Payday Loan, requirements for payday loan and a lot more.
About the Access Payday Loan?
The Access Payday Loan is an initiative from Access bank to lend out money to salary earners anytime they are in need of money urgently. Why this loan is only accessible to salary earners is because it fulfills the Bank’s Risk Acceptance Criteria (RAC).
The Access Payday loan is a type of digital credit facility that provides loans right away to clients that apply and are approved.
With the Access payday loan, you can get a loan from Access bank without collateral or documentation, however, remember that you have to be a salary earner and in most cases have an account with Access bank.
To know more about Access payday loan, its requirements, and how to apply for the loan, continue reading this article.
Type of Loans I Can Get from Access Bank?
They are different loans offered by Access Bank and different packages, below are the different loans you can get from Access Bank.
- Salary Advance
- Small Ticket Personal Loan
- W Power Loan
- Advance for School Fees
- Device Finance
- Maternal Health Service Support (MHSS)
- Creative Sector Loans
- Lending Against Turnover (LATO
- Personal loan
- Vehicle Finance
Access Bank Payday Loan Requirements and Eligibility
Before you can get an Access bank Payday loan, you need to meet the following requirements.
- No overdue loans in Access Bank or other banks are permitted.
- You must possess a working salary account with proof that you have received payments in the previous 45 days.
- You must have access to your BVN’s associated phone number
How Do You Apply for the Access Bank Payday Loan
Basically, there are three ways you can apply and get a loan from Acess bank through the Acess bank payday loan service and we have made effort to mention them below.
You can apply for the Access bank payday loan by using either
- USSD Code
- Bank app ( any of the two Access bank apps)
- Online banking
How to Apply for the Access Bank Payday Loan using USSD
To use the USSD code method to apply for the Access bank payday loan, follow the steps below
- Dail *901*11*1#
- Follow the on-screen instruction and click on payday loan
- Select the amount you want
- It will get credited to your account once processed.
How to Apply for the Access Bank Payday Loan using the Bank App
Alternatively, you can apply for the Access Bank payday loan using the Access bank app. Both the Access Mobile App and the QuickBucks App can be used to apply for a loan.
To apply using the app, all you have to do is log in to your account and click on Loan, select payday loan and the amount and it will get credited to your account.
How to Apply for the Access Bank Payday Loan via Online Banking
With the online banking method, all you have to do is apply for a payday loan by visiting Access bank’s official website or reaching out to Access Bank agents via Whatsapp.
The maximum Access bank Payday Loan You can get
The maximum Access bank payday loan is around 75% of your monthly earnings. However, the rate varies.
- Salary account holders with Access Bank: if you have an account with Access bank, then you can get up to 75% of your total monthly salary.
- Other bank customers: but then if you don’t have an account with Access bank and you want to get the Access bank payday, you would only be able to get 50% of your total monthly salary.
How to repay Access Bank Payday loan
You have 30 days from the date you took out the loan to repay your Access Bank payday loan, or you can wait until your next income check. There is no procedure required for repayment. Your salary bank account will be immediately debited for the loan amount.
Access Bank Payday Loan Interest Rate
The 3% flat interest rate for payday loans from Access bank is dependent on the state of the market. Because of this, your interest rate might not be 3%. at that time Before applying for a loan, make sure you ask the bank all the pertinent questions.
As a salary earner, even if you don’t have an account with Access bank, you can still get the Access bank payday loan in this article, we have written everything you need to know about getting the loan and the Access Bank Loan Code To Apply for Payday Loan.
So instead of getting worried about paying your children’s school fees or other stuff when you haven’t received your salary yet, you can just go get a loan from Access bank with the Access bank payday loan option.