- Mar 09, 2019
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How to Apply For GTBank Quick Credit Loan.
Ever heard of GTBank Quick Credit? If No, then you will get detailed information here!
GTBank quick credit is a service propagated by GTBank to ease the proce of getting quick loans. It is solely for customers running a salary account, to take loans pertaining to the salary they receive.
We will go through a tutorial on how to borrow money from GTBank using the GTBank Quick credit service.
Before we proceed, please take note that you can only be able to borrow money via GTBank quick credit service if you have a GTBank salary account, with a salary of 10,000 Naira and above. Also, you must be within the ages of 18-60 years.
How to Apply For GTBank Quick Credit Loan
There are two methods to adopt in applying for the Quick Credit service. The first method is by applying via GTB’s official website while the second is by downloading the PDF and submitting the form at any of the bank’s branch. The steps for both methods go thus:
- Applying Via GTBank Official Website
- Visit the official portal for GTBank Loan.
2.Click on the internet banking option and log in your account. If you have not registered for an internet banking account, click Here and do so.
3. After registration and Login, click on the Salary Advance option and follow the on-screen guidelines.
- Applying Via Form Submission
- Visit GTB’s official website for Salary Advance Application Form
2.Click on the download key when you arrive at the PDF page and print out the application form to fill.
3. After filling, submit to any GTB branch.
There you have the two methods to adopt when you plan on taking a quick loan with GTB. Now let’s move on to how to access the loan.
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How to Access GTBank Quick Credit Loan
GTBank quick credit loan can be accessed via he following means:
- Internet Banking
- GTBank Website
- Mobile Banking App
Let’s also go through the frequently asked questions on the GTBank Quick Credit Service. Thi will definitely answer the questions popping up in your mind right now.
Frequently Asked Questions on GTBank Quick Credit
- What is GTB Quick Credit?: GTBank Quick Credit is a service designed to allow customers, who are salary account holders to take loans. These loans usually have a time frame.
- What is the Maximum Amount I can Borrow Using GTBank Quick Credit?: GTBank quick credit allows customers to take loans up to 5M Naira.
- What is the Minimum Amount I can Borrow Using GTBank Quick Credit?: GTBank quick credit allows customers to take loans as low as 10,000 Naira.
- What is the Duration for loans taken with GTBank Quick Credit?: GTBank gives customers a duration of one year to pay back the money loaned to them, on the GTBank quick credit service
- What is the Interest rate on loans taken with GTBank Quick Credit?: An interest rate of 1.75% per month, applies to loans taken.
- Any Age limit?: Applicants must be between the ages of 18-60 years.
- If I Have An Existing Loan With GTBank On Remita Platform, Can I Get More Loan?: Yes. Only if total repayment will not exceed 33.33% of the applicant’s monthly salary.
Note: Before you can register for the GTBank Quick credit service: You must have created a GTBank salary account, with a monthly salary of 10,000 Naira.
What are the Terms and Conditions?
- The Borrower pays back in 12 (Twelve) equal monthly installments.
- The Applicant authorizes GTB to debit [his/her] salary account for the monthly loan obligations or grant the Payroll Service Provider the right to deduct the monthly loan obligation comprising principal and interest before crediting his/her account with the Bank.
- The interest rate chargeable on the Applicant’s account will be GTB’s prime lending rate from time to time.
- Interests are chargeable on every amount owed by the Applicant.
- A late repayment fee of 1% flat monthly (approximately 12% yearly.) over the approved lending rate shall be effective on any unpaid obligation without recourse to the Borrower.
- In case the applicant does not pay on due date, the outstanding principal amount and accrued interest shall be conclusive proof that a sum is due and owing from the Borrower.
- In case the applicant does not pay on due date, GTB reserves the right at its discretion, to transfer the defaulting account to a third party agency to recover any outstanding debt due to the Bank. Also, the Bank shall transfer the defaulting account to the chosen insurance company to recover any outstanding debt paid on behalf of the Applicant.
- GTB will advise the Debtor of any alterations in prime lending rate, charges, fees or any other terms and conditions of the loan by a notice at its branches in Nigeria or by notes in customer statements.
- The Debtor grants GTB authorization to obtain and retain on the Credit Risk Management System of the Central Bank of Nigeria, all info relating to the Debtor’s Bank Verification Numbers and the status of indebtedness.
- The Debtor irrevocably undertakes to fully indemnify the Bank against all cost and expenses (including legal fees, collection commission et cetera), arising in any way in connection with the Borrower’s accounts; in enforcing the terms and conditions herein; or from the recovery of any amounts due to the Bank or incurred by the Bank in any legal proceedings of whatever nature.
- The terms and conditions contained binds the Debtor and is not assignable.
It is a good feeling to have access to money especially In emergency period. Open a salary account with GTBank to enjoy the service. Also do well to read the terms and conditions very well before you opt in for it.