Access Bank is the number one bank in Nigeria when it comes to giving its customers soft landing Loans. The good news is that most of these loans do not need collateral or guarantor to be accessed. Your only ticket to qualify for the loans is to be a dedicated customer of the bank for at least six month.
Types of Loans Issued by Access Bank
- Access Agent Loans
- Access More Mileage Loans
- Consumer Asset Lease
- Cash-Backed Loans
- Creative Sector Loans
- Device Finance
- Easy Buy Finance Scheme
- Lending Against Turnover
- Personal Loans
- PayDay Loans
- Advance for School Fees
- Salary Advance
- Small Ticket Personal Loans
- Home Loans
How it works
1. Access Agent Loans:
This is a quick digital loans available for only Access CLOSA Agents. An Access CLOSA Agent is an authorized person that carry out banking activities outside the banking halls on behalf of the bank. The agent provides basic financial help to customers, ranging from cash deposit, cash withdrawal, cash transfer, bill payment and more.
How to Get Access Agent Loans
- Access Agent Loan is digital, meaning it does not require you to visit the bank.
- Application is through QuickBucks mobile App
- You can get QuickBucks App by visiting Google play for all android users or via Apple store for all iOS users
- The service is 24/7
- You need to process 10 or more transactions a day to qualify for the loan
- You do not need any documentation
- You do not need any collateral
- You can access up to N1million
- 1% flat payment, if you fail to pay back at the end of every month.
- The tenor of the loan is 2days to 48 hours, that is when the loan is due for repayment.
- If you have any outstanding loan with Access bank.
- If by any means you applied using a phone number that is not linked to your BVN
- The loan is instant, meaning, ones your application is successful, your account will be credited immediately.
- You can request for the loan as many times as you may want to provided you have not exceeded the amount of cash you are eligible to borrow.
- You can liquidate or pay back your loan any time either through QuickBucks App or by Contacting the bank 0700 300 0000
When the loan is over due, and you fail to pay back, the loan will be deducted from any account number linked to your BVN.
2. Access More Mileage Loans
The loan is specifically designed for Access bank customers who want to buy a vehicle but do not have money to pay in cash. you can own you dream car with just a minimum of N170k per month. Meaning the bank will give you your dream car, and you are expected to pay bit by bit with amount not less than N170k every month.
- To access this loan, you need to visit any access bank close to you and make a request.
- You will be required to complete the Application form
- Valid means of Identification and all other documents that may be required by the bank.
All original papers of the vehicle will be held by the bank pending when you complete the payment of the said vehicle.
- The loan is only available for all salary earners and business owners ( verifiable)
- The interest rate is 18%
- The bank will charge you a Management fee of 1% and Insurance fee of 0.75%
- All vehicles must be compressively insured.
3. Consumer Asset Lease
This loan helps you to buy any consumable household items worth N5million on credit and pay later over a period of 2 years. This is possible because Access bank is in partnership with major electronics vendors nationwide.
- Available to both business and salaried customer.
- You do not need additional collateral.
- Visit your Access bank branch and make a request.
- Fill the Application form with your valid means of Identification.
- And you are good to go!
4. Cash-Backed Loan
Cash-Backed loan is an instant digital loan available for access bank customers that can be accessed just by dialing *901*11*2#. This Loan is only available for customers who has fixed deposit investment in the bank. This implies that being you a customer of the bank alone is not enough to access the loan but you must have a qualifying investment with the bank to access the loan.
- The loan is flexible, with a maximum tenor of 1 year.
- You can get a loan up to 85% of your total investment with the bank, but the maximum loan the bank will give you is N10million.
- Your eligibility status is displayed when you dial the Access bank short code to request for the loan
Don’t border to apply.
If you do not have any existing and qualified investment with the bank.
If your investment with the bank is already used for collateral.
If you have any loans outstanding loans.
If you do not have the phone number that is linked to your BVN.
Cash-Backed Loan is instant, meaning ones your application is successful your account is credited immediately.
You can request for the loan as many time as you man want to, provided you have not exceeded the total amount that you are eligible to. But the loan can only be disbursed three times in a day.
The loan will be due for repayment every 30 days beginning from the date you collected the loan. The loan repayment amount will be automatically be deducted from you bank account. You can as well pay back your loan anytime even before the due date by contacting the bank. If it happens that you are not able to pay back when the loan is due, the loan will be deducted from from any account number linked to your BVN or from the existing investment .
5. Creative Sector Loans
This is a Federal Government of Nigeria initiative loan in collaboration with Banks to help people in the entertainment and creative industry such as:
- Information Technology
- Movie production
- Movie distribution
- Music and
- Software engineering students
How to access Creative Sector loan
Make a business plan, stating how much you want for your business
Visit any Access bank branch with your business plan or apply here
There is an interest rate of 9% for one year in all loans
Software engineering students is expected to pay back the loan within 3years
Fashion, movie production and distribution, information Technology and music is expected to pay back the loan in 10 years
This loan is only for Nigerians
You are required to have a detailed business plan, financial plan, economic benefits and 3 years financial projection, your proposed loan and how you will use the loan
You must have a satisfactory credit report.
The bank has made arrangement for some experts to assist their customers to write a business plan that will meet the loan requirement, but you are expected to pay for the experts services though on a discounted rate.
6. Device Finance Loan
This loan is for those want to buy a new phone or upgrade to a higher phone but do not have enough cash to make the purchase. With the help of access bank Device Finance Loan, you can buy your dream phone and pay back bit by bit every month. This loan is only for salary earners who meet the Bank’s requirement. You will not be eligible for the product if you have active payday. The device displayed are the ones you are qualified for. You are qualified to get a device worth 33% of your annual salary and not more than N500K worth of device. You can request for a device as many times as possible provided you have not passed the total amount of device you are qualified for. Only brand new device is available-no used and no refurbished . Repayment will be deducted from your monthly salary account.
How to Get Device Finance Loan
This loan is only available on the Access bank QuickBucks app which can be downloaded from your app store.(Google play or Apple store)
No collateral is needed
pay back is up to a year.
After you have downloaded the quickbucks App,
Register with your Email Address and the phone number linked to your BVN.
Verify the OTP sent to your phone via SMS
Create your password used to log into the app
Create the code (PIN) used to make transaction (4-digit)
Type in your contact details and your bank details including, address, location, account number, BVN etc
Agree to terms and conditions
Click on the “Device Finance box”
Select the type of device (phone ) you want
Fill the the required details
Tap on “Get this device”
Accept the terms and conditions
A transaction code and pick up details will be sent to your email
7. Eazy Buy Finance Scheme
Access bank in partnership with GAC motors introduced this scheme for Access bank customers who are interested in GAC vehicles. With this scheme, you can own a brand new GAC car by remitting as low as N240k every month. Repayment is within 2 years.
How to Apply
Visit any Access Bank branch and request for the application form, Valid means of Identification and all other required documents.
Fill the required form and wait for approval.
Registration of the vehicle is free
Original vehicle paper will be held by the bank pending when you complete the payment of the vehicle.
All salary earners and business owners (verified) are qualified to apply.
Interest rate is between 15.5%
Management fee is 1%
Insurance fee is 0.5%
8. Lending Against Turnover(LATO)
LATO is an instant digital loan for customers who do not have salary account but have a good banking relationship with the bank for than 6-months. The loan is digital, meaning you can get the loan just by dialing the Access bank short code *901*11#. Or visit Access more Mobile App and select Loans and Investment.
No document is required
No collateral is required
Three month tenor
Interest rate is 5%
Management fee is 1%
0.5% credit life insurance
You can get up to 20% of your monthly salary.
The amount you are qualified to borrow is displayed when you type in the code
Maximum you can borrow is N300k
You are not qualified to borrow if you have any outstanding
You should apply using the phone number linked to your BVN
You can pay back even before the loan is due
If you fail to pay back before the tenor lapses, the loan will be deducted from any account linked to your BVN.
9. Personal Loan.
This loan is mainly for salary earners or business owners. You can get up to 75% of your net annual salary. The loan has 3 years tenure.
To apply for the loan, you need to visit any access bank branch and fill the Application form, Valid means of ID, BVN, Confirmation letter and all other documents that may be required by the bank.
10. PayDay Loan.
This is the most popular instant digital loan introduced by access bank to help their customers meet their urgent needs before the payday or salary day. The loan is instant, meaning you can get the loan as soon as you apply through one of these platforms:
- Internet banking
- WhatsApp Banking
- Access mobile App and
- QuickBucks App
No documentation is required and you do not need any collateral.
The loan tenor is 31 Days
You can request as many times as you may want to provided you have not exceeded the total amount you are eligible to borrow
The payDay loan is not only for Access bank salary account owners, if you collect your salary through remita, you can also apply for the loan but have it in mind that ones you request for the loan, access bank automatically open account for you and pay the money into the new account number.
You are not qualified for the loan:
- If you have any unpaid loan from access bank or other banks
- If you do not have the phone number that is linked to you BVN
- If there’s no evidence that you receive salary from the previous months
11. Advance for School Fee
This loan is designed to assist parents and guardians to finance the school fee of their children. The loan is also available to finance undergraduate studies, post graduates and professional exams.
Repayment period is between 4 to 6 months
Interest rate is 18% per annum
Management fee is 1%
Insurance fee is 0.5%
This loan is not instant, which means you need to visit the bank or download the application form online and fill it appropriately and submit then wait for approval. Be sure you have all the required documents as stated in the application form
12. Salary Advance
With Access Bank Salary Advance, you can get up to 200% of your net monthly salary and pay back within 6 months. This loan is instant, which means you can apply for the loan either through the Access bank short code *901*11*1# or through the QuickBuck App. You do not need any documentation and you do not need any collateral. Repayment is within six months.
Interest rate is 1.9%
Management fee is 1%
Insurance fee is 0.2%
You salary must be up to N50k to qualify
13. Small Ticket Loan
With Small Ticket Loan, you can access up to 200% of your monthly salary and pay back within one year. With Access Bank small ticket loan, you can get up to 200% of your net monthly salary and pay back within 12 months. This is instant digital loan meant for salary earners, which means you can apply for the loan either through the Access bank short code *901*11*1# or through the QuickBuck App. You do not need any documentation and you do not need any collateral. Repayment is within 12 months.
Interest rate is 3.7%
Management fee is 1%
Insurance fee is 1%
Your salary must be up to N100k to qualify
14. Home Loan
Home is designed to help you acquire properties. This loan is only available for Salary earners and business owners. for now, properties is located in Lagos, Abuja and Port Harcourt.
You must contribute up to 30% of the worth of any property of your choice.
The loan tenor is up to 10 years.
You need to visit the bank with your valid means of ID and provide all the required documents as stated in the application form. fill the form and wait for feed back from the bank.
These are the major loans offered by access bank. Though there are a lot more like W-power loans, Maternal Health service support etc. You are to choice the one that you are qualified for.
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