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What you need to Borrow Money from GTBank

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  • Post last modified:07.05.2023

GTBank loan varies in requirements depending on the type and your eligibility lies on several requirements specific to loan products.

Guaranty Trust Bank popularly known as GTBank has designed different types of loans to aid you through many situations. These loans target various vocations and need such as insurance financing, school fees or salary advances.

The loans are readily accessible to its customers with quick responses and approvals, clear requirements, multiple means of acquiring loans and no hidden interest rates.

Having over seven loan types, you need to understand and consider which loan works best for your needs and capacity before applying. This article outlines all the obtainable GTBank loans.

 

GTBank Loans and Eligibility Requirments

Below are the available GTbank loans with their requirements:

 


GTBank Salary Advance Loan

Limit

50% of Salary

Interest/m

2%

Tenor

30 Days

 

Public and private sector salary earners that have salary accounts with Guaranty Trust Bank are eligible to request a salary advance that is up to 50% of the total salary amount received monthly.

This GTBank loan comes in handy when you need to sort out urgent needs that come up before the end of the month. The application for this loan type is a straightforward process that requires no collateral and a quick response rate of 24 hours. You can choose to allow the loan to renew every month for any recurring needs you have or leave it as a one-time process.

 

Eligibility Requirements for GTBank Salary Advance Loan

To qualify for the GTBank salary advance loan, you need to have the following:

  • An active salary account with Guaranty Trust Bank for at least one month
  • A minimum of N25,000 and N50,000 salary for public and private sectors respectively

 

GTBank Salary Advance Loan Application Channels

You can apply for this GTBank loan through:

  • GTB Internet banking portal
  • USSD Code: *737*8*2#
  • GTBank branch/ATM

 

School Fees Advance Loan

Limit

₦5 million

Interest/m

2%

Tenor

4 months

 

If you need to sort out school fees for your child or ward, GT’s school fees advance makes it possible to pay on time via accessing this quick loan. This loan is accessible only to salary earners who have their salary accounts with the bank and is payable to school accounts in Nigeria and outside the country.

With this GTBank loan, you can receive up to N5,000,000 and not less than N50,000 in school fees loans quickly accessible from time to request to the school account. Salary earners must have had salary accounts for at least a month with a minimum amount of N25,000 for employees in the public sector and N50,000 for employees in the private sector.

 

Eligibility Requirements for GTBank School Fees Advance Loan

To qualify for the GTBank school fees loan, you need to have the following:

  • An active salary account with Guaranty Trust Bank for at least one month
  • A minimum of N25,000 and N50,000 salary for public and private sectors respectively

  • Completed application form

  • Completed Employer undertaking form

  • School fees bill

  • Credit insurance

 

GTBank School Fees Advance Loan Application Channels

You can apply for this GTBank loan through:

  • Any GTBank branch

 


Quick Credit Loan

Limit

₦5 million

Interest/m

1.8%

Tenor

12 months

 

This GTBank loan is something both salary and non-salary earners between the ages of 18 – 59 years can benefit from. It is a quick solution for instant cash in situations where you may have due bills to pay or any other unforeseen circumstance. As the name implies, access to quick cash is paid as soon as an application is approved. This requires every criterion for a QuickCredit loan to be met. These criteria are:

  • A minimum lodgement of N20,000 and N10,00 for salary accounts must be sustained
  • No history of dud cheques
  • Satisfactory credit reports 
  • No unpaid obligations 

 With this GTBank loan type, you are eligible for an amount between N5,000 and N5,000,000 to be paid back within 12 months. 

 

Eligibility Requirements for GTBank Quick Credit Loan

To qualify for the GTBank Quick Credit loan, you need to have the following:

  • An active salary account with Guaranty Trust Bank for at least one month
  • A minimum of N25,000 and N50,000 salary for public and private sectors respectively
  • No history of dud cheques 
  • Satisfactory credit reports
  • No unpaid obligations
  • Credit insurance

 

GTBank Quick Credit Loan Application Channels

You can apply for this GTBank loan through:

  • GTB internet banking portal
  • USSD Code: *737*8*2#
  • GTBank branch/ATM

 


Max Advance Loan

Limit

₦10 million

Interest/m

5%-15%

Tenor

48 months

 

As a staff of a corporate or government organisation (civil servant), this is one GTbank loan you can take advantage of. One of the most important requirements for you to access up to N10,000,000 from this loan is that your salary account and terminal benefits (gratuity, pension, etc) are domiciled with Guaranty Trust Bank. A 3-24 months window is available for repayment.

The principal and interest are spread out evenly over the course of the duration of the repayment. Once all required forms and documents are submitted and approved, you will receive the loan payment within 48 hours of approval.

 

Eligibility Requirements for GTBank Max Advance Loan

To qualify for the GTBank max advance loan, you need to have the following:

  • An active salary account with Guaranty Trust Bank for at least one month
  • Completed application form 
  • Completed employee undertaking form 

 

GTBank Max Advance Loan Application Channels

You can apply for this GTBank loan through:

  • Any GTBank branch

 


Max Plus Loan

Limit

₦60 million

Interest/m

5%-15%

Tenor

60 months

 

Bigger earnings mean bigger loans on the GT Max Plus. This loan plan opens eligible customers to up to N50 million in loans with a reasonable repayment tenure. With no collateral required, Max Plus gives users who have domiciled salary accounts with Guaranty Trust Bank and earn a net annual income of N20 million and above, the chance to apply for a loan between N6 million to N50 million. Its flexible repayment splits the principal and interest equally over the tenure for payment. The payment options are:

  • Monthly with equal principal and interest payment (must not exceed 50% of salary)
  • Annually, bi-annually or quarterly with monthly interest and principal 
  • Specific months (determined by income cash flow)

As a staff of a corporate or government organisation (civil servant), this is one loan you can take advantage of. One of the most important requirements for you to access up to N10,000,000 from this loan is that your salary account and terminal benefits (gratuity, pension, etc) are domiciled with Guaranty Trust Bank. A 3-24 months window is available for repayment.

The principal and interest are spread out evenly over the course of the duration of the repayment. Once all required forms and documents are submitted and approved, you will receive the loan payment within 48 hours of approval.

 

Eligibility Requirements for GTBank Max Plus Loan

To qualify for the GTBank max plus loan, you need to have the following:

  • An active salary account with Guaranty Trust Bank for at least one month
  • A minimum net annual income of N20 million
  • Max Plus application form
  • Completed employee undertaking form 

 

GTBank Max Plus Loan Application Channels

You can apply for this GTBank loan through:

  • Any GTBank branch

 

Computer Acquisition Scheme Loan

Limit

₦60, 000

Interest/m

5%-15%

Tenor

10 months

 

Corp members are not left out of the benefits of a loan. This loan is specifically structured to aid current serving corp members to acquire mobile devices while serving. This helps to facilitate skill acquisition, especially through the purchase of devices. Only corp members with Guaranty Bank as the allowance account can participate in applying for this loan. The tenor ranges between 3-10 months for repayment. 

 

Eligibility Requirements for GTBank Computer Acquisition Scheme Loan

To qualify for the GTBank corp members loan for computer acquisition, you need to have the following:

  • You must be a current serving corp member
  • Allowance account must be domiciled with GTBank
  • Completed application form
  • Employer undertaking form
  • All applications must be completed during NYSC orientation 

 

GTBank Computer Acquisition Loan Application Channels

You can apply for this GTBank loan through:

  • Any GTBank branch

 


GTB Mortgage Loan

Limit

₦50 million

Interest/m

5%-15%

Tenor

20 years

 

If you have been meaning to buy property but still require the finances to complete the payments, GTMortgage is your solution. With this, you are provided with credit facilities to make the necessary payments and repay subsequently in convenient parts. This term loan is available to GTBank users whose salary or business account is put up with the bank.

The locations eligible for such loans are medium-density areas in all state capitals and low-density locations in Abuja and Lagos. Repayment options are flexible as such:

  • Equal monthly repayment (principal + interest) 
  • Annual, semi-annual or quarterly principal payment of not more than 50% of salary (interest to be serviced monthly)

This loan avails you between N5 million – N50 million for a maximum of 20 years and insurance on all properties. 

 

Eligibility Requirements for GTMortgage Loan

To qualify for the GTBank mortgage loan, you need to have the following:

  • Salary or business account with GTBank
  • Be a confirmed staff of a reputable company/organisation for at least one month
  • Completed application form
  • Title document of property
  • Offer letter to sell property from vendor
  • Valuation report from Bank’s approved estate valuer
  • Search report from GTBank Legal Group 

 

GTMortgage Loan Application Channels

You can apply for this GTBank loan through:

  • Any GTBank branch

 


Overdraft (Premium Advance Loan)

Limit

₦1 million

Interest/m

5%-15%

Tenor

12 months

One of the benefits of being a Platinum customer with Guaranty Trust Bank is the availability of loan options such as this one. The Premium advance loan works by providing you with an overdraft on your Debit Naira Mastercard.

This overdraft can be up to a million naira with monthly interest repayment and block principal payment. It is available with several payment methods such as ATMs, POS machines and online payments. Equal monthly repayment (principal + interest) 

 

Eligibility Requirements for GTBank Overdraft (Premium Advance Loan)

To qualify for the GTBank overdraft (premium advance loan), you need to have the following:

  • Be a GTBank Platinum customer
  • Average monthly salary of N1 million and above
  • An annual turnover of N10 million and above
  • Active salary account with GTBank for at least 3 months
  • No ending obligations with Guaranty Trust Bank or other banks
  • Completed application form
  • Employee undertaking form

 

GT Premium Advance Loan Application Channels

You can apply for this GTBank loan through:

  • Any GTBank branch

 


Travel Advance Loan

Limit

₦3 million

Interest/m

5%-15%

Tenor

12 months

When it is that time of the year when you need to relax and unwind after working hard, whether summer or Christmas holiday, you should never be stranded when you want to take some time off. That is where Guaranty Trust Bank’s Travel Advance saves the day. It provides you with the option of a loan for any holiday need such as a ticket, hotel reservation or tour. 

You can access between N250 thousand to N3 million today back within a year (+interest). Anyone with a GTBank salary account can apply for this loan. To apply for this loan, you will need to access your Internet banking portal and follow the steps below:

  1. Log in to your Internet banking portal
  2. Under ‘Investments and Quick Loans’, select ‘Travel Advance’
  3. Complete the form
  4. Input six digit token and submit

You can see whether your loan has been approved or denied from this portal as well as the travel limit available to you. The Airlines and travel agents you can use are available here as well.

 

Eligibility Requirements for Travel Advance Loan

To qualify for the GTBank travel advance loan, you need to have the following:

  • Active salary account with GTBank for at least 3 months
  • Salary must be paid in NGN
  • GTBank Internet banking access
  • Token to complete transactions
  • Completed application form

 

GT Travel Advance Loan Application Channels

You can apply for this GTBank loan through:

  • GTBank Internet banking

 

 


Vehicle Insurance Premium Financing Loan

Limit

₦1 million (individuals) ₦5 million (corporate)

Interest/m

5%-15%

Tenor

12 months

 

Whether for commercial or private purposes, it is important that you have your cars protected against unforeseen circumstances. This way, you can bounce back and handle such situations without financial strain. To help you with insurance for vehicles, GTBank offers a premium financing loan to individuals and corporate organisations. These loans help in an upfront repayment for insurance and a repayment plan that is spread over 12 months. This insurance cover is granted without having to visit the insurance office and an insurance certificate empaled to the customer. A minimum of 20% of the insurance payment is required upfront. 

You can use Internet banking or GAPs or GAPs Lite to apply for a vehicle insurance loan. 

 

Eligibility Requirements for Vehicle Insurance Premium Financing Loan

To qualify for the GTBank vehicle insurance premium financing loan, you need to have the following:

  • Active salary account with GTBank for at least 3 months
  • SME or Corporate account domiciled with GTBank 
  • 20% of total insurance cost by customer
  • Completed application form on Internet banking portal or GAPs

 

GT Vehicle Insurance Premium Financing Loan Application Channels

You can apply for this GTBank loan through:

  • GTBank Internet banking

  • GAPs or GAPs Lite

GTBank Loan Calculator

If you are feeling lucky, take some minutes to calculate how much you will pay back before applying for any using the below GTBank loan calculator:

GTBank Loan FAQs

Can I access any GTBank loan I want?

All GTBank loans are accessible to eligible customers of the bank that meet the requirements of each loan. To be sure which loans you can apply for, read through this article and see the requirements

How do I get a quick loan from GTBank?

One of the loans Guaranty Trust Bank offer is the QuickCredit loan available to its customers within minutes. Any account holder with a minimum of N20,000 lodged or a salary account with at least N10,000 monthly can apply for this loan via USSD code *737*51*51#, internet banking or any GTBank ATM. 

Can I get a loan to pay my bills?

Yes. GTBank offers specific loans for payments such as school fees, vehicle insurance and mortgage payments. However, any loans collected can also be used for bills as you see fit. Most GTBank loans do not require a reason before approval.

How much do I pay back for a loan?

Each loan repayment plan and interest rate differs. To find out how much the repayment on a loan is, look through this article to see the loan offers, interest rates and tenors, ten use the loan calculator to estimate the final cost of repayment based on the tenor.

Where can I get more information regarding the GTBank loans?

Other information not covered in this article can be gotten from its loan listing page where you can select the loan of choice to see the complete details, including the terms.

 

GTBank has many financial solutions that help its customers reach their goals, one such is the GTBank loans which are easily accessible and available for different needs.

These loans have reasonable tenors which make repayment more convenient and when compared with loans from other providers, they are quite reasonable.

Lois Samari
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You are the first in our research hence, we rallies around doing rigorous checks, testing and analysis to help you make a good decision on products and services. Meanwhile, items providers' final views are superior to ours.
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Victoria Folorunsho
1 year ago

Anytime l Dial the code is telling me am pre eligible and my account is not a salary account ( why)

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Admin
Happiness Crew
1 year ago
Reply to  Victoria Folorunsho

Hi Victoria,
So sorry to learn.
Kindly note that GTBank has criteria in determining how much you can access via its USSD loan code. This could be happening because your account falls short of those requirements.
If you have a good credit profile and feels this is an error, try to check with the nearest branch to you.

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