How to Get a Loan from Guaranty Trust Bank (GTB)
Guaranty Trust Bank PLC (GTBank) is known for financial services. It offers many financial products. These are for different people and organizations. GTBank is a big financial group. Its main office is in Lagos, Nigeria. It also has offices in many countries.
GTBank is a leading bank in Nigeria. It helps businesses grow. It supports small businesses too. GTBank has many loan options. These loans help customers. This includes both people and businesses.
In this article, we will learn about loans and how to apply for them.
GTBank Salary Advance With a salary advance loan, you can get up to 50% of your net monthly salary in advance. This loan plan is available for employees of private companies and government agencies who have active salary accounts with GTBank.
Benefits of Salary Advance
- Advance up to 50% of net monthly salary.
- 30-day period, renewable monthly.
- No collateral required.
- Minimum salary for public sector employees is #25,000 and for private sector employees is #50,000.
- Salary advance available within 24 hours.
How to Apply for GTBank Salary Advance
You can apply through any of these three methods:
- Log in to internet banking.
- Dial 7378*2# to apply.
- Visit any GTBank branch or ATM.
GTBank School Fees Advance
The school fees advance is a loan facility designed to finance the payment of your child/ward’s school fees for schools/institutions in Nigeria. It’s available for employees of public and prestigious private organizations whose salaries are domiciled with GTBank.
Benefits of School Fees Advance
- You can get up to N5 million for school fees advance. The maximum duration per request is 4 months.
- The interest rate is very competitive. The loan repayment method is equal monthly payments including principal and interest.
- Immediate access to funds for prompt payment of your child/ward’s school fees.
How to Apply for GTBank School Fees Advance
- Submit a completed application form and employer undertaking form.
- Provide school fees bill and credit insurance.
- Ensure staff terminal benefit is domiciled in GTBank or obtain a corporate guarantee.
- Note: You can download the form on the GTBank website or visit the nearest GTBank branch.
Quick Credit
With GTBank Quick Credit, salaried or self-employed individuals can get the cash they need instantly and pay it back within 6 to 12 months. With Quick Credit, you can get up to N5 million at a monthly interest rate of 1.33%, without any hidden charges. Dial 73751*51# to confirm if you are eligible for quick credit.
Benefits of Quick Credit Loan
- If eligible, you can get between N500,000 – 5 million.
- Convenient repayment plan spread over 6-12 months.
- Monthly interest rate of 1.33%.
How to Apply for GTBank Quick Credit
There are two ways to apply:
- Dial 73751*51# for an instant quick credit request.
- Quick Credit is also available on all GTBank online and mobile banking platforms (Internet Banking, GTWorld, GTBank Mobile App, and Habari App).
MaxPlus
If you’re looking for a larger loan facility and more flexibility to meet your financial needs with a convenient repayment plan, MaxPlus is exactly what it offers. MaxPlus is available for platinum customers who have their salary accounts with GTBank.
Benefits of MaxPlus
- Get a loan between N6 million and N30 million.
- Up to 48 months duration. Monthly repayment cannot exceed 33.3% of net monthly salary.
- Equal monthly repayments including principal and interest.
- No collateral required.
How to Apply for MaxPlus To apply for MaxPlus, you need to:
- Submit a completed MaxPlus application form and employer undertaking form.
- Note: You can download the form from the GTBank website or visit the nearest GTBank branch.
GT Mortgage
GTMortgage is a loan scheme designed to enable GTBank customers to purchase homes in selected cities across the country. It is available only for customers whose salaries or business incomes are domiciled with the bank.
Benefits of GTMortgage
- For low-density residential areas in Abuja and Lagos, the facility amount ranges between #5 million and #150 million.
- For medium-density residential areas in Abuja, Lagos, and other state capitals, the facility amount ranges between #5 million and #50 million.
- The duration is up to 20 years (subject to a maximum age of 55 years at loan maturity).
How to Apply for GTMortgage
To apply for GTMortgage, you need:
- A completed application form.
- Title documents of the property.
- Offer letter to sell the property from the seller.
- Valuation report from a bank-approved property valuer.
- Search report from GTBank Legal Group.
- You can apply at the nearest GTBank branch location.
GTBank Travel Advance
If you are looking for a loan to meet your travel needs (airline tickets, hotel reservations, airport pickup and transfers, and tours and programs), the Travel Advance is suitable for you. To qualify for this loan, your salary account must be with GTBank, and you should have received your salary (in Naira) from the same employer through GTBank for the past 3 months.
Benefits of Travel Advance
- Facility amount from #250,000 to #3 million.
- Loan duration up to 12 months.
How to Apply for GTBank Travel Advance
- Log in to internet banking.
- Click on Travel Advance under Investments and Quick Loans.
- Select Travel Advance and start a new request.
- Fill in the required details.
- Authorize your request by entering the 6-digit code on your token and submit.
MaxAdvance
MaxAdvance is designed to provide personal loan facilities to selected corporate and government organization employees whose salary accounts are with GTBank.
Benefits of MaxAdvance
- Facility amount from #100,000 to #10 million.
- Loan duration up to 48 months.
- Convenient repayment plan.
How to Apply for MaxAdvance
- You can complete your MaxAdvance loan application at any nearest GTBank branch with the following documents:
- MaxAdvance application form for non-private or private organizations.
- Employee undertaking form.
GTBank Computer Acquisition Scheme
The Computer Acquisition Scheme provides a facility (term loan) to currently serving corps members whose allowance accounts are with GTBank for financing the acquisition of mobile devices during the service year.
Benefits of the Computer Acquisition Scheme
- Facility amount up to ₦60,000.
- Flexible repayment plan (within 3 to 10 months).
- Enables corps members to acquire more knowledge, information, and skills.
How to Apply for the GTBank Computer Acquisition Scheme
- You can complete your application during NYSC orientation activities. Required documents include:
- Computer Acquisition Scheme application form.
- Employer undertaking form.
- Domiciliation of NYSC allowance with GTBank.
GTBank Premium Advance
The Premium Advance is a revolving overdraft facility placed on your debit Naira Mastercard when you need funds the most. Eligibility requirements include:
- Available only to platinum customers.
- Average monthly salary of not less than N1 million in the last six months.
- Annual turnover of not less than N10 million.
- Consistent receipt of salary through GTBank account for the past three months.
- No outstanding obligations with GTBank or other banks.
Benefits of Premium Advance
- Overdraft up to N1 million with a 1-year duration (subject to clearing every 30 days).
- Highly competitive interest rate. 2% flat fee on first use of N1 million.
- Overdraft accessible through Naira Debit Mastercard (ATM withdrawals, POS purchases, and web payments).
- Monthly repayment of interest with a lump sum repayment of principal at the end of the cycle.
How to Apply for GTBank Premium Advance
- Simply submit a fully filled Premium Advance application form and employee undertaking form at the nearest GTBank branch location.
GTBank Vehicle Insurance Premium Financing
Vehicle Insurance Premium Financing is a term loan that enables corporate organizations (with GAP access) and salary owners (whose accounts are with GTBank) to pay their motor insurance premiums in advance and spread the repayment over a 12-month period.
Benefits of Vehicle Insurance Premium Financing
- Loan amount for individuals ranges between #20,000 and #1 million, and for corporates, between #20,000 and #5 million.
- Immediate availability of funds for insurance premium payment.
- Opportunity to pay insurance premiums on a monthly basis.
- Insurance cover without physically being present at the insurance office.
How to Apply for Vehicle Insurance Premium Financing
You can apply for Vehicle Insurance Premium Financing either through Internet Banking or GAPS. To apply via Internet Banking, simply click on the Sign On menu, then Insurance Loan, and finally Vehicle Insurance.
For applying through GAPs/GAPs Lite, follow these steps: Sign On – Single Transaction – Collections – Insurance Loan – Vehicle Insurance Leadway.
GTBank QuickCredit for Small Businesses
This is a time loan product aimed at financing the working capital needs (i.e., funds needed for day-to-day operations) of SMEs in education (creche, primary, and secondary schools) and healthcare (hospitals, retail pharmacies, and diagnostic centers). Before applying for the credit facility, you must open a corporate account with GTBank and operate it for 12 months.
Benefits of QuickCredit for Small Businesses
- Eligible customers can access up to 50% of their average annual turnover.
- Loan duration is up to 6 months (12 months for schools).
- Funds are disbursed immediately.
- Eligible customers can apply through the GAPs/GAPslite platform.
- Repayment is structured in two ways: monthly interest payment and quarterly principal repayment (option available only for schools) or equal monthly repayment of principal and interest.
How to Apply for GTBank QuickCredit for Small Businesses
- Simply select the loan and click on QuickCredit for Small Businesses on the GAPs/GAPsLite platform and follow the prompts.
Conclusion GTBank is one of the banks with the lowest loan interest and flexible repayment plans. Therefore, take your time to understand each scheme and choose the best for your needs.
