Ever so often, people look for new and reliable channels for loans. In as much as there are so many banks and platforms that offer credit loans, a lot of these loans may or may not be convenient for some people. In today’s article I’m going to be talking about the different loan options you can get from guaranty trust bank, some features, requirements and of course the terms and conditions applied.

Firstly before going into the topic at hand, you have to understand that before you apply for any loan you must first read and understand the terms and conditions applied, and repayment plans available. This is important because different loans have different terms and conditions and repayment plans applicable to them.

List of available GTbank loans

The following are various types of loans available to you as a guaranty trust bank user:

• Quick Credit.
• GT Salary Advance.
• School Fees Advance.
• Max Advance.
• Max plus.
• Computer Advance.
• GT Mortgage.
• Premium advance.
• Transfer Advance.
• Vehicle insurance premium financing.

Listed above are the loans available to you as a GTbank user. Below I will be discussing in details the requirements, terms and conditions and a guideline of how to apply for these loans. To find out more keep reading.

Quick Credit

The quick credit loan by GTbank, as the name implies, is a quick loan that is required to be pay back in 6 to 12 months maximum. This loan is available for salary and non-salary earners. The quick credit loan offers 5 million naira to pay back in 6 to 12 months with the interest of 1.33% monthly . There are no other hidden charges connected to this loan.

This loan is a reliable and quick one just as the name implies.

Next we’ll be seeing the requirements and conditions attached to the quick credit loan. Also, the quick credit loan offers as low as 10,000 naira to 5 million naira maximum.

GTbank Quick Credit Loan Terms And Condition

The following are the necessary requirements and eligibility terms attached to the GTbank quick credit loan:

• The Borrower shall repay the principal and interest in 6 to 12 with equal monthly installments.
• The Borrower hereby authorizes the Bank to debit [his/her] salary account for the monthly loan repayment or authorize the Payroll Service Provider to deduct the monthly loan repayment containing the principal and interest before crediting his/her account with the Bank.
• The reticent Interest rate chargeable on the Borrower’s account shall be the Bank’s annual percentage rate from time to time.
• In the event of rationalization, a facility rationalizing fee of 0.5% of the outstanding amount shall be charged.
• A late repayment fee of 1% flat per month (approximately 12% p.a.) over the approved lending rate shall be applied to the outstanding unpaid debenture without recourse to the Borrower.

Must Know About GTbank Quick Credit Loan

 The following are basic features you need to know about the GTbank quick credit loan:

• It offers Up to N500,000 – N5 Million.
• Convenient repayment plan goes from 6 to 12 months maximum.
• It has an interest rate of 1.33% monthly.

How To Apply For GTbank Quick Credit

To apply for the GTbank quick credit loan, all you have to do is follow either if the following methods.

• You can request Quick Credit instantly by dialing *737*51*51#
• Quick Credit is also available on all GTbank online and mobile banking platforms (Internet Banking, GTWorld, GTbank Mobile App, and Habari App).

GT Salary Advance Loan

GT salary advance loan is a loan that is meant for salary earners of private companies and government workers. This loan enables you to get 50% upfront of your net monthly salary interesting right. For you to be eligible for this loan, you must have an active salary accounts domiciled in GTbank.

Features Of the GT Salary Advance Loan

The following are some vital features of the GT salary advance loan you need to know:

• It offers up to 50% of your net monthly salary in advance.
• The condition of 30 days; Renewable monthly.
• It requires no collateral.
• It offers a minimum salary of N25,000 for the public sector and N50,000 for private sector employees.
• Salary advance loan will be made available within 24 hours.

How To Apply For GTbank Salary Advance Loan

 There are three methods which you can conveniently use to apply for the GTbank salary advance loan, and you can see them below:

Method 1:

In this method all you have to do is make sure you activate your Internet Banking also know as the mobile app. Once you have successfully registered and logged in you can then apply for the GT salary advance loan using this method.

Method 2:

This method shows you how to apply for the loan using the mobile banking also know as the USSD code. To apply all you have to do is dial *737*8*2#.

Note: you have to make sure you gave activated your mobile banking service on your phone.

Method 3:

This is also a very convenient way for you to apply for the GT salary advance loan. All you have to do is visit any GTbank branch or ATM near you, and request a form to apply for a GTbank salary advance loan. Once you have the form fill it out correctly, submit and await approval easy peasy.

School Fees Advance

GT School fees advance is a loan to help parents or guardians pay their children’s school fees. You can get loans as low as 50,000 to 1 million maximum per child. These loans have been set up to help improve the standard of education and make school fees payment easy. This loan is available to staff of public and reputable organizations whose salaries are domiciled with the bank.

Features of the GT school fees advance

The following are some essential features you need to know about the GT school fees advance:

• It offers up to N5 Million School Fees Advance, with a maximum tenor of 4 months per request.
• It has a very Competitive interest rate with equal monthly repayments comprising of principal and interest.
• It offers Immediate access to funds for the prompt payment of your ward’s school fees.

How To Apply For School Fees Advance Loan

To apply for the GT school fees advance all you have to do is follow these easy steps:

• Download and fill out the Application form and employer undertaking form correctly.
• Submit it to the nearest GTbank branch.
• Ensure that staff terminal benefit is domiciled in GTbank or get a corporate guarantee.
• Don’t forget to make available school fees bills and credit insurance.

Max Advance

Max Advance is a GTbank loan that offers personal loan to the staff of specific government and corporate organizations who has salary accounts with GTbank. Max Advance allows you to get a loan of N100,000 to N10,000,000. The loan is expected to be paid between 3 months to 48 months maximum. This loan aids you to fulfill all your financial needs.

Features of the  Max Advance Loan

The following are some essential features of the Max Advance loan that you ought to know:

• It offers N100,000 to N10,000,000
• You are required to pay within 3 to 48 Months
• Repayment requirements – Equal monthly repayment comprising principal & Interest.

Note: Monthly repayment shall not exceed 33.3% of net monthly.

• Support/Comfort – Salary Domiciliation, Credit Insurance, Domiciliation of staff terminal benefit or Corporate Guarantee

How To Apply For GTbank Max Advance Loan

To apply for the GTbank Max Advance loan all you have to do is follow these easy step:

Download the following forms, fill them out correctly and submit them to the nearest GTbank branch.

• Max Advance Application Form for Non-Private Organizations
• Max Advance Application Form for Private Organizations
• Employee Undertaking Form

 Max Plus

Max plus is a loan for platinum customers, it offers you  a bigger facility with a convenient repayment plan. This loan will aid you more in meeting your financial needs. To be eligible for this loan, you must be a platinum customer whose salary account is domiciled with GTbank.

Features of the Max plus loan

The following are some important features of the Max plus loan:

• It offers loans between N6 Million and N30 Million.
• Repayment time of up to 48 months. Monthly repayment cannot exceed 33.3% of the net monthly salary.
• There must be equal monthly repayment comprising principal & Interest.
• No collateral is required.

How To Apply For Max Plus Loan

To apply for the GT max plus loan as a platinum customer all you have to do is follow this easy step:

You will need to download the form below, fill it and submit it to the nearest GTbank branch:

• Max Plus Application Form.
• Employee Undertaking Form .

Computer Acquisition Scheme

The computer acquisition scheme loan is a loan available for only Youth corps members. This loan enables you to acquire a computer. This will help to improve your computer skills and help you also learn new ones. This loan will be paid with your service year allowance. The facility amount is 60,000 naira to be repaid in 3 to 10 months of service.

Features of the  Computer Acquisition Scheme Loan

The following are some basic features of the computer Acquisition Scheme Loan for corps members:

• The maximum amount offered is N60,000.
• You are expected to pay back within 3 –10 months of the service year.
• Repayment – Equal monthly installment of principal and interest over the tenor of the facility and shall not exceed 33.3% of the Corps member’s monthly allowance.
• Corps member’s allowance must be domiciled with the Bank.
• The loan interest rate is not competitive.

How To Apply For Computer Acquisition Scheme Loan

Follow this simple instruction to apply for the computer acquisition scheme loan:

Visit the nearest GTbank branch, and ask them to give you Application Form for the Computer Acquisition Scheme loan and the Employer Undertaking Form.

Fill out the form and submit it.

Note – All applications are to be  completed during the NYSC orientation activities

GT Mortgage

The GT Mortgage loan helps business owners or salary earners whose accounts are domiciled with GTbank to own a property like a home. GT Mortgage offers a credit facility to own a home in specific cities within the country. This loan varies according to the selected cities. Your account manager will help you discuss the loan and the interest rate applicable.

Features of the GT Mortgage loan

  The following are specific and important features of the GT Mortgage loan:

• It offers N250,000 to N3,000,000
• Maximum Tenor – 12 months
• Interest Rate – 20% per annum (subject to money market conditions)
• Security – Domiciliation of salaries and allowances
• Customers must have their salary account domiciled with GTbank.
• The customer must have received his/her salary through GTbank in the last three months from the same employer.
• Salary must be paid in Naira (NGN).

How To Apply For GTbank mortgage Loan

 once your employment status is confirmed as staff of a reputable company and have worked with the current employer for at least three month,  visit the nearest GTbank branch and request for Application Form and submit the following documents.

• Title Document of Property
• Offer Letter to Sell property from vendor
• Valuation report from any of the Banks approved estate surveyor.
• Search report from GTbank Legal Group. 

Vehicle Insurance Premium Financing

The vehicle insurance premium financing is a GTbank loan that helps you to pay for your car insurance and repay it with less spread later. It offers you money to pay for your car insurance. After paying the insurance company, you will repay the money in segments.

Features of the Vehicle Insurance Premium Financing Loan

 The following are important features of the vehicle insurance premium financing loan:

• Loan Amount – Individuals – N20,000 – N1,000,000 (Individuals) & N20,000 – N5,000,000 (Corporate)
• Maximum Tenor – 1 year
• Interest Rate – 1.67% per month
• Repayment – Equal monthly repayment comprising principal and interest
• Equity Contribution – 20% of total insurance premium cost
• Fees – 1% one-off flat fee
• You will get instant funds to pay for your car insurance.
• Enjoy the opportunity to repay on monthly basis.
• Get insurance cover without visiting any physical insurance office. Though, this is optional.

How To Apply For GTbank vehicle Insurance Loan

You can apply for the Vehicle Insurance Premium Financing on Internet Banking or by visiting the nearest GTbank branch or by using GAPS.

Via Internet Banking

• Sign On
• Menu
• Insurance Loans
• Vehicle Insurance

Via GAPS

• Sign On
• Single Transactions
• Collections
• Insurance Loans

Note:

• The loan is availed immediately  
• The insurance Service provider processes the policy for the customer within 48 hours.
• A copy of the insurance certificate is sent to the customer’s email address.
• The customer repays the loan every month

I hope this article on GTbank loans has been helpful to you, and I hope now you can easily navigate through the many options and find the right loan that best suits you. Don’t forget to like, comment and of course share to your social media platforms.

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