Access Bank is one of the leading financial institutions in Nigeria, offering a range of products and services to its customers. Among their sought-after services is the Access Bank loan facility, providing financial assistance to individuals and businesses. What’s great about this loan service is that it doesn’t require collateral or a guarantor, and the application process is quick, with funds disbursed within minutes if approved.
Types of Loans Offered By Access Bank:
- Creative Sector Loan: Perfect for creative industry professionals like fashion designers, artists, and musicians who need funding for their businesses. You’ll need a business plan or a statement of how much you need.
- Lending Against Turnover (LATO): Ideal for those in need of quick cash for urgent personal needs. Requirements include a BVN-linked phone number and evidence of receiving a salary payment in the previous month.
- Personal Loans: Designed for meeting personal needs like medical bills or vacations. You’ll need to provide a completed application form, employer’s confirmation form, employment ID copy, BVN, credit checks, and a letter of lien.
- Salary Advance Loan: Employees can access up to 100% of their net monthly salary without any documentation or collateral. Repayment period is 3 months.
- Small Ticket Personal Loan: Offers 400% of your monthly net salary with a loan tenor of about 12 months. Requirements are a BVN-linked phone number and evidence of salary payment in the previous month.
- W Power Loan: Empowers female entrepreneurs with a female-owned business that has been operational for at least 1 year and has a minimum staff strength of 2 people.
- Advance for School Fees: Parents seeking funding for their children’s school fees can apply for this loan by providing relevant documents like application form, offer letter, school fees bill, ID card, and recent utility bill.
Eligibility Criteria for Access Bank Loan:
To use the Access loan code and apply for a loan, you must meet the following eligibility criteria:
- Be at least 18 years old
- Have an active account with Access Bank
- Have a source of income
- Maintain a good credit history
Conclusion:
Access Bank provides a convenient and reliable loan service for individuals and businesses in Nigeria. Whether you need funding for your creative business, urgent personal needs, or children’s school fees, Access Bank has various loan options to suit your requirements. By meeting the eligibility criteria and using the Access Bank loan code, you can apply for the loan and have the funds quickly disbursed into your account.
