Access Bank Loan Code – Apply Without Collateral (Requirement)

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Access Bank Loan Code

Sometimes emergencies arise before payday, and you might be low on cash.

This is where Access Bank PayDay Loan comes in.

Payday Loan is an instant loan product for customers (both salary and non-salary earners).

With Payday Loan, you can borrow money at a low-interest rate with no documentation or collateral needed.

The maximum amount (i.e., eligible amount) you can get is 75% of your monthly salary, less any active loans at the Bank; subject to ₦500,000 disbursement cap.

Your eligibility is displayed when you request the loan.

You can get access to an instant loan by dialing *901*11#, *426*11# or via Internet Banking, WhatsApp Banking, Access Mobile App and QuickBucks App.

Once your loan request is successful, your Access Bank account is credited instantly.

However, it may take up to 24 hours to process before disbursement into your account.

In such an event, you will be notified of any delays.

The interest rate for PayDay Loan is 10% and 11% for third party non-Access Bank customers.

Other charges include a 1% management fee, and 0.3% credit life insurance, which are taken upfront.

Your PayDay Loan will be due for repayment by your next salary payment or 30 days from the day the loan was taken (whichever comes first).

The loan amount will then be automatically deducted from your salary account.

Customers will face a 1% penal charge per month for defaulting on the loan from 31 days past due.

Features

• 24/7 service which does not require visits to the bank and application is done conveniently via *901*11#, *426#, QuickBucks App, Internet Banking, Mobile App.
• No documentation required.
• No collateral required.
• Up to 36 months tenure.

Access Bank Loan Requirement

• Have a valid identification card.
• Have an Access bank account.
• Have BVN.

Types of Loans offered by Access Bank

• Vacation Finance
• Access Agent Loan
• Access Device Financing
• Access more mileage
• Advance for School Fees
• Cash-Backed Loan
• Consumer Asset Lease
• Creative Sector Loan
• Eazy Buy Finance Scheme
• Home Loan
• Lending Against Turnover (LATO)
• MHSS
• Payday loan
• Personal Loan
• Quickbucks
• Salary Advance
• Small Ticket Personal Loans
• Vehicle Finance
• W Power Loan

What can affect my eligibility?

Your eligibility will be affected by any of:

• If you have any outstanding loan(s) in Access Bank or other banks.
• If you apply using a phone number that is not linked to your BVN.
• If there is no evidence that you received a salary payment in the previous month. 
• If you have taken other digital loans and exceeded your eligible amount.
• If you have an existing loan and the monthly repayment is higher than your eligible amount.

Final Words

Access Bank has simplified getting access to quick loans in Nigeria.

With different channels like the Access Mobile App, Internet Banking, WhatsApp Banking, and QuickBucks App, you can conveniently access loans and make more enquiries.

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