On this page, you’ll get a proper detail in relation to access bank loan grant educating you with access bank loan types, requirements and lastly how to apply for access bank loan and get approved.
Access Bank plc commonly known as access bank is a Nigerian multinational commercial bank, owned by Access Bank Groups. It is as well licensed by the Central Bank of Nigeria (CBN), the Nigerian national banking regulator to carry out banking activities for Nigerians/foreigners within their jurisdiction.
Access Bank Loan: Introduction, Loan Types & Requirements
Diamond bank which is now known as Access Bank or Diamond/access is one of Nigeria’s bank with international recognition. And just like any other top banks in Nigeria, Access Bank has a very swift and transparent loan system for all their customers.
The loan availability is for all their customers provided the individual in question has a valid and a functional account with them. This simply means anyone who is operating with Access Bank is eligible for a loan. However, there are other basic requirements which will be detailed later.
One of the most interesting thing about the loan offered by Access Bank is that; it’s 100% collateral free. This simply means you can apply for a loan and get approved without you having to submit any of your property documents as collateral.
Access Bank Nigeria offers divers loan types and for different people and purposes. You can view some of the loan types offered by Access Bank PLC below.
Types of Loan offered by Access Bank in Nigeria
- Creative sector loan
- Lending against turnover
- Personal loan
- Salary Advance Loan
- Small Ticket Personal Loan
- W-power Loan
- Advance for school fee
- Device Finance
- Maternal Health service support (MHSS) Loan
- Payday Loan
- Vehicle Finance Loan
Access Bank Loan Requirement
The basic loan requirements for access bank users can be accessed below;
- Valid Access Bank account number
- BVN number
- Valid Government issued ID card
Ways to Request for Access Bank Loan
Basically, there are only three methods of requesting loan from Access Bank Nigeria. These three (3) methods include;
- Via USSD code
- Via Access Bank mobile app
- Going to any Access Bank branch near you
For the sake of this tutorial, we will be making use of three above loan application methods to emphasize fully on how to apply and get an approved loan from Access Bank Nigeria.
How to Apply for Access Bank Loan Using USSD Code
The easiest loan application method for access bank is via SMS. However, one needs to have a basic knowledge on how follow instructions as below guide will show you how to get it done.
- On your mobile device dial *901*11*1#
- Here you select the type of loan you want to request (personal loan, payday loan, salary loan etc.). Selection is done by inputting the corresponding figure.
- On the next page, you will see your eligible loan amount then you select 1 to accept loan offer
- Now you select the loan amount you will like to request from Access Bank.
- Now you select your repayment option
- On the next page you will get to see loan details which includes (interest rates, management fee, and all other charges)
- Now you accept loan charges and that is all.
- You will get your requested loan send directly to your Access Bank account number.
How to Request for a Access Bank Loan Using Mobile App
To request a loan from Access Bank using the mobile app for IOS and Android, follow our guide below;
- Open Google Play Store (for android) or App Store (for IOS)
- Search for “Access Bank Mobile App”
- Download the app, install and open
- Now you logon to the app using your account number and mobile number
- Click the top left corner menu and scroll down to “LOANS”
- On the next page, you will see your eligible loan amount then you select 1 to accept loan offer
- Now you select the loan amount you will like to request from Access Bank.
- Now you select your repayment option
- On the next page you will get to see loan details which includes (interest rates, management fee, and all other charges)
- Now you accept loan charges and that is all.
- You will get your requested loan send directly to your Access Bank account number.
That’s simply how to request for a loan using the mobile app.
How to request for Loan by visiting Access Bank Branch
This is the best way we recommend most especially if you are just getting started with LOANS from any Nigerian bank.
To get a quick loan by visiting the bank, follow our below guide.
- Visit any or closest Access Bank branch near you (Google Maps can help find the closest from your current location).
- Go to the customer care representative and tell them you are her to request for a loan
- They will direct you to the right office or give you a loan request form which you have to fill
- Make sure to ask for details about all types of loan they offer before filling the form.
- Don’t forget to read and as well ask for their loan terms of service.
- After that, submit your form, go home and wait to receive your credit alert when the loan is approved.
Following any of our above mentioned guides will get your loan delivered to your bank account in minutes.
How to Pay Back Your Access Bank Loan after Due Date
Repaying loans received from Access Bank a little or let’s say have nothing to do with you performing any action.
Everything is automated. That’s why we made mentioned that this bank offers a flexible and transparent loan system for customers.
The repayment option you select when filling your loan application form is what Access Bank will use to automate the loan deduction from your parent account.
What Happens if I Don’t Pay Back in Time?
When the stipulated due date of the loan is near or as reached, the loan will be deducted from your account. But when your current account balance is not up to the amount of the loan you requested previously, the loan will be on repayment hold. Though that doesn’t mean you won’t be paying back the loan again.
Access Bank will deduct the loan from your account as soon as fund is made available in your account.