Get the Code For Access Bank Payday Loan which gives you access to obtain the Access Bank payday loan directly to your bank account.
Access Bank Plc has launched its own USSD code to provide faster and immediate access to credit for its customers.
Table of Contents
USSD Code For Access Bank Payday Loan
The code for quick access, 901*11# is key tool to promote the Payday Loan product offered by the bank, as per the statement of the lender.
In partnership with Remita The PayDay Loan does not require collateral or guarantor. it allows customers to get loans immediately without having to visit the bank.
The service allows users to cover their immediate financial requirements before they receive their salary.
Bank’s Executive Director of Personal Banking, Victor Etuokwu is quoted in the media as sayingthat “Acquiring credit in Nigeria is restricted in terms of the availability of collateral or access issues as well as the duration of the approval procedure.
“With our obligations to our customers especially during difficult economic periods, we are emphasising Access Bank‘s position in offering lifestyle products and services that meet their financial needs.”
The lender also said, “Access Bank’s PayDay Loan product offers customers and non-customers easy access to a unique platform that gives them access to loans against their next salary payment, and enables customers to obtain a loan instantly by simply dialling a USSD Code *901*11# on their mobile phones.”
According to the article it is said that the payday loan may be used to meet every financial or personal need to improve the quality of their living.
“The product is unique as recipients only have to be diligent salary earners who will now be able to obtain instant loans without stress or involving a guarantor,” it said.
Access Bank payday loan – what exactly is it?
Access Payday Loan Access Payday loan is a digital credit facility that can pay loans in a matter of minutes to the person who requested the loan when they have their application accepted.
The approval of the digital loan product is based only on your ability to meet Access Bank’s lending requirements that they refer to as the Risk Acceptance Criteria (RAC).
In essence it is clear that the payday loan is designed to provide financial aid to non-salary earners.
Access Bank payday loan eligibility
The following steps will allow you to receive Access bank loan: Access credit from the bank:
No loan outstanding in Access bank, or in any other bank.
The most Access bank payday loan that you can obtain
By taking the Access Bank loan, you are eligible to receive up to 75 percent of your income per month. The amount is subject to the following elements
Account holders with a salary who have Access Bank: If you’re a salaried account holder at Access Bank, you will be qualified for a payday loan in the amount of 75 percent of your salary.
Others bank clients: If you receive your pay through another bank, which is processed by IPPIS or Remita You will be qualified to receive an Access payday loan by the bank equal to 50 percent of your monthly income provided that it does not exceed NGN 500 000.
The application process to get access bank’s payday loans. Access Payday Loan from the bank
Payday loans are digital service that is why you should not to apply for it physically. You can access the payday loan by using accessing the Access Bank payday loan code by using the USSD *901*11*1# by using internet Banking. This allows you to take out a loan online in a matter of minutes or through Access bank’s WhatsApp Banking platform. It is also accessible via Access Mobile App and QuickBucks. Access Mobile App and QuickBucks App.
The process for applying typically lasts between 24 and 48 hours. After that, the bank distributes the money.
How do I repay Access the bank payday loan
The Access Bank loan is eligible to be repaid either with your next salary or 30 days after the day you receive the loan. You do not have follow any formalities to pay back. The amount of the loan is deducted automatically from your account in the bank for your salary.
Access Bank payday loan interest rate
The Access bank payday loan’s rates are 3%, flat and is dependent on the current market conditions. This means that the interest rate may differ from the 3%. Be sure to make all necessary inquiries with the bank prior to applying for the loan.
Mr Olawale Olokede is a registered loan officer and worked for over 10 years as a senior financial consultant for accounting, finance and business management firms in Nigeria. Mr Olawale Olokede implemented and supervised financial and loan solution to Lagos based small and medium scale businesses after lecturing at the Lagos Business school. He is channeled his writing skills and passion for blogging to set up Lending Naija with over 50 reviews on different loan application and downloads.