Have you ever found yourself in a situation where you are not financially buoyant but need to meet short-term needs urgently? Salary advances or payday loans usually come in handy, and in this article, you will learn about Access Bank Payday loan.
What is Access Bank Payday Loan?
It is an instant loan facility with low interest rate for customers who have their salary accounts domiciled with Access Bank.
It is also available for those whose salaries are processed through Remita.
What are its features?
The best thing about Access Bank Payday Loan is that it is available round the clock given that its application can be done through the *901# USSD, Internet Banking, or the Access Bank mobile app.
- There is no need for documentation.
- No collateral is needed.
What are the rates and tenor?
It has to be repaid at the end of the month it is disbursed or when the salary is paid – which ever comes first.
The interest rate is 12% plus a 1% management fee, and both are taken upfront.
What is the maximum amount that can be accessed?
The maximum amount you are eligible for is 75% of your salary. However, that can not exceed N500,000.
How soon will the funds be available in my account?
The funds will be credited to your Access bank account immediately the application is successful.
How do I request for the loan?
You can access the loan through the following means:
- Dial *901*11# (from the mobile number linked to your Access bank account)
- Visit the Access Bank Mobile App. Select Loans & Investment
- It’s also available through Internet Banking and its Whatsapp Banking platform (Send “Hi” to 09090901901 to get started on the Access Bank Whatsapp channel)
- Download the QuickBucks app. It is available Playstore and App Store