How to Borrow Money From Access Bank
Access Bank offers a range of loan services to help you meet various financial needs — whether it’s expanding your business, paying school fees, or buying a new device. I’ve explored these options and can confirm that the steps you take will depend on the type of loan you’re applying for.
You can apply for a loan through several convenient methods, like using WhatsApp, downloading the QuickBucks App, or visiting their website.
In this guide, I’ll personally walk you through the process step by step, explaining the eligibility criteria, interest rates, and everything else you need to know to get started smoothly.
Types of Loans Offered by Access Bank
| S/N | Loan Type | Available to |
| 1 | Youth loan | Young entrepreneurs between the ages of 21 and 40. |
| 2 | Payday loan | Both salary and non-salary earners. |
| 3 | Instant business | Access Bank MSME customers |
| 4 | Cash-backed | Customers with an Access Bank account and a qualifying investment with the bank. |
| 5 | Salary Advance loan | Salary account holders with Access Bank who earn a minimum of ₦50,000 |
| 6 | Lending against turnover (LATO/ILAT) | Customers who maintain an average balance of ₦20,00 over six months |
| 7 | LATO premium (PLAT) | Customers who maintain a minimum turnover of ₦200,000 in the last 30 days and ₦500,000 in the last 6-12 months. |
| 8 | Creative Sector | Non-customers who open an account with Access Bank and meet the requirements. |
| 9 | Small ticket personal loan | Salary account holders with Access Bank who earn a minimum of ₦100,000. |
| 10 | LATO Trader (TLAT) | Access Bank trader account holders. |
| 11 | Education loan | Private schools that are registered with the Ministry of Education and Corporate Affairs Commission. |
| 12 | Device finance | Salary account holders with Access Bank & other bank customers. |
| 13 | Access agent loan | Access CLOSA agents to bridge liquidity and funding gaps. |
| 14 | W-Power loan | Female owned businesses |
| 15 | Home loan | Salary earners and business entrepreneurs. |
Access Bank Quick Loan Service
Access Bank offers a variety of quick loan services, which can be found in the QuickBucks App; they include: Lending Against Turnover, Payday Loans, Small Ticket Personal Loans, Personal Loans, Cash-Backed Loans, etc. These loans are instant and convenient to get.
You can dial the USSD code *901*11#, download the QuickBucks app, available on the Google Play store or Apple Store, Or visit the QuickBucks website to get any of these loans.
Access Bank Quick Loan Requirements
For the various types of access bank loans, each has its requirements you have to meet. While there are eligibility criteria, you must generally meet them before you’re considered for a loan. These criteria are:
- Have an active bank account with Access Bank.
- You must be up to 18 years old.
- Have a good credit history.
- You must have a reliable source of income.
- Be among any of these categories: Student, Salary earner, Creator/creative – Fashion, movie production, IT, music, etc, Business owner; businesswoman: two women who own a joint business.
You can apply for an access bank loan if you meet these requirements.
Access Bank Loan and Interest Rate
Access Bank offers a variety of loans with different interest rates and associated charges:
- Instant Business Loan:
- Interest rate: 7.5%
- Other charges: 1% management fee, 1% advisory fee, and 1.5% for insurance cover
- Salary Advance:
- Interest rate: 10% on a reducing balance
- Other charges: 1% management fee and 1% credit life insurance
- PayDay Loan:
- Interest rate: 12% for Access Bank customers, 13% for third-party non-Access Bank customers
- Other charges: 1% management fee and 0.5% credit life insurance
- Creative Sector Loan:
- Interest rate: 9% (all charges inclusive)
- Home Loan:
- Interest rate: 15% to 17% per annum
Understanding these rates and charges can help you choose the most suitable loan option for your needs.
Access Bank Quick 6 Months Loan
The Access Bank Quick 6-Month Loan, also known as the Salary Advance Loan, is a fast digital loan designed for customers who receive their salaries through an Access Bank account.
This loan has a tenor of six months (180 days). You can access up to 200% of your monthly salary, minus any existing loan obligations, with a maximum loan amount of ₦5,000,000.
Access Bank 6 Months Loan Requirements
To be eligible for the 6 months loan you must meet the following requirements:
- Your BVN
- You must be up to 18 years old.
- Three (3) months stamped statement of account.
- Good credit history.
- Valid ID – Driver’s ID, National ID or International passport.
- Employment status
- Utility bill (within the preceding 3 months).
Access Bank Payday Loan
The Access Bank Payday Loan is an instant loan product that targets salary and non-salary earners who meet the Bank’s risk acceptance criteria (RAC). With a Payday Loan, you can borrow money at a low interest rate without documentation or collateral.
To request a Payday Loan you can go through any of the following:
- USSD code: Simply dial *901*11# and follow the prompts
- Visit the QuickBucks website.
- Download the QuickBucks app from the Google Play Store or the Apple Store.
- Go to the Access Mobile App and select Loans & Investments.
- Access Bank Internet Banking and WhatsApp Banking channels
Access Bank Loan for Salary Earners
The Access Bank loan for salary earners(salary Advance loan)is an instant loan product under the PayDay Loan scheme, which is targeted at Access Bank customers who receive their salary directly into their Access Bank account and meet the Bank’s risk acceptance criteria (RAC).
You can use any of the following methods to apply for a salary advance loan:
- Download the QuickBucks app from the Google Play Store or Apple Store.
- Dial the USSD code *901*11#.
- Or visit the QuickBucks website.
Access Bank Loan for Business
Subject to the Bank’s risk acceptance criteria (RAC), the Access Bank business loan, also known as the Instant Business Loan, is a digital loan product designed specifically for MSMEs that offers a short-term finance option to address cash flow/float gaps and other urgent business demands and requirements.
You can use any of the following methods to apply for an instant Business Loan:
- Download the QuickBucks app, available on the Google Play Store or Apple Store.
- Or visit the QuickBucks website.
Access Bank Loan for Corpers (NYSC)
Access Bank provides National Youth Service Corps (NYSC) members who fulfill the following criteria with a QuickBucks loan:
- Have evidence of 2 salary payments over 3-months through approved payment platforms.
- Have an NYSC allowance account.
- Minimum loan tenure of 3-months
- No documentation and collateral are required
- The loan is available during the NYSC service year.
To request for a loan, you can:
- Dial the USSD code *901*11#
- Download the QuickBucks app from the Google Play store or Apple Store.
- Visit the QuickBucks website
Read also: How to Borrow Money from Moniepoint Loan
How Does the Access Bank Loan App Work?
The Access Bank loan app is called QuickBucks. QuickBucks is a platform for digital loans, housing all-digital loan products which is aimed at improving your borrowing experience. This platform offers credit-worthy customers everything from loan management services to allowing customers to liquidate loans early.
To access QuickBucks you need to register to get started. Sign up and log into QuickBucks to request any digital loan you are eligible for through the following:
- QuickBucks(for smartphone purchases)
- Download the QuickBucks app, available on the Google Play store or Apple Store.
- Visit the QuickBucks website.
All you need to do is log in and choose a loan suitable for you, based on other various digital loan features.
How to Repay Access Bank Loan
To repay your Access Bank loan, you can do that in various ways, which are:
- Visiting a branch: You may visit any Access Bank branch to liquidate your loans.
- Self-liquidation: you can use the QuickBucks platform or USSD *901*11# to repay your existing loans.
- Contacting Access Bank: You can also contact Access Bank on +234 700 300 0000 or 0201-2712005, and by sending an e-mail to contactcenter@accessbankplc.com.
How to Borrow Money From Access Bank With Ussd Code
To borrow money from Access Bank with the USSD code, you can simply dial *901*11# and follow the prompts. This is very convenient.
How to Borrow Money From Access Bank Online
To borrow money from Access Bank online, you can follow these steps:
- Go to Access Bank Internet Banking
- Complete the application
- Accept the offer
- Accept the Terms and Conditions
- Domiciliate your salary to the bank
You can also request a loan from Access Bank Using the QuickBucks App and using the Access Mobile App then select Loans & Investments.
Conclusion: How to Get Loan From Access Bank
Access Bank loans are a fantastic option for anyone needing quick cash during emergencies, thanks to their straightforward application process, automatic repayment, and reasonable interest rates. However, it’s essential to check that you meet the eligibility requirements and fully understand the repayment terms and interest rates before applying.
With a range of loan options, including PayDay Loans, Small Ticket Personal Loans, Salary Advance Loans, W-Power Loans, and Instant Business Loans, Access Bank provides solutions tailored to various financial needs.
You can apply conveniently via the USSD codes *901*11# or *426*11#, using Access Bank Internet Banking, WhatsApp Banking, Access Mobile App.
FAQ: How to Borrow Money From Access Bank
How to borrow a quick loan from Access Bank?
You can get a quick loan by dialing *901*11# or *426*11#, using Access Bank Internet Banking, WhatsApp Banking, Access Mobile App, and QuickBucks App. Use these channels to request for a quick loan.
What does *901*14# mean in Access Bank?
*901*14# is the USSD code that is used for borrowing money from Access Bank through your existing debit card. By dialing the code it gets activated.
What is the Access Bank quick loan code?
The Access Bank quick loan code is *901*14#. You get access to any type of loan you want by dialing this code.
How to borrow a loan from Access Bank?
To borrow a loan from Access Bank, you can dial *901*11# or 42611#, Use the QuickBucks app, go through WhatsApp Banking, use the Access Mobile App, and choose Loans & Investments, or use Access Bank Internet Banking.
Can Access Bank give loans without collateral?
Yes, Access Bank gives some loans without collateral. Examples are: small ticket personal loans, payday loans, lending against turnover, etc.