All Your Questions Answered: Access Bank Quick Loan
Access Bank Quick Loan, a product of Access Bank Plc, is designed to provide short-term financial relief for individuals who need extra funds to cover unexpected expenses or to purchase items such as furniture, appliances, and other necessities.
FAQs about Access Bank Quick Loan
Who can apply for Access Bank Quick Loan?
Anyone who is a Nigerian citizen and meets the eligibility criteria can apply for Access Bank Quick Loan.
To qualify for an Access Bank Quick Loan, you must:
1. Be a Nigerian citizen.
2. Be at least 18 years old.
3. Have a valid government-issued ID.
4. Have a verifiable source of income.
5. Have a good credit history.
What documents do I need to apply for Access Bank Quick Loan?
To apply, you will need to provide the following documents:
1. Signed post-dated cheques.
2. Valid ID – Driver’s ID, National ID or International passport.
3. Three (3) months stamped statement of account.
4. Two Individual external guarantors with proper means of identification such as BVN, four (4) passport photographs, Identity Cards and Letter of Intent to guarantee the loan.
5. BVN
6. Utility bill (within the preceding 3 months).
What is the maximum amount I can borrow with Access Bank Quick Loan?
The maximum amount you can borrow with Access Bank Quick Loan is N5 million.
What is the interest rate for Access Bank Quick Loan?
The interest rate for this loan is 10% flat, which is be subject to review from time-to time in line with the prevailing money market condition.
What are the repayment terms for Access Bank Quick Loan?
You can choose to repay the loan over a period of 1 to 36 months.
What is the USSD Code to take out a loan from Access Bank?
The code used to get loans from Access Bank is *901*11# or *426*11#.
How long does it take for money to be disbursed after my loan is approved?
Getting a loan from Access Bank is usually a quick and easy process. Depending on the type of loan you are applying for, it can take anywhere from a few days to a few weeks to receive approval. Typically, quick loans can be approved, and money disbursed in 24 – 48 hours.
Are there fees associated with an Access Bank Quick Loan?
To get the Access Bank Quick Loan, you must pay a ₦1,000 processing fee.
Does taking out an Access Bank Quick Loan come with risks?
There are some risks associated with taking out any type of loan. The main risk is that you may not be able to repay the loan on time. If you default on the loan, you may be subject to late fees, penalties, and even legal action.
What are the benefits of an Access Bank Quick Loan:
Some of the benefits of obtaining an Access Bank Personal Loan include.
1. Unsecured loan
You can borrow money without having to put up any assets as collateral. This makes it easier for you if you don't own property or other valuable items which could be used as security.
2. Flexible Repayment Terms
The repayment terms for Access Bank Quick Loan are flexible and can be customized to fit your needs. You can choose to repay the loan over a period of 1 to 36 months.
3. No prepayment penalties
You can pay off the loan early without any penalties.
Additional details about the Access Bank Quick Loan:
The interest rate is fixed for the duration of the loan.
There are no prepayment penalties.
The loan can be used to pay for personal expenses, such as medical bills, home repairs, or debt consolidation.
How to Apply for Access Bank Quick Loan on nairaCompare
1. Click ‘Access Bank Quick Loan’.
2. Read through the information provided on the product page to get more details about the product.
3. Click on ‘Apply’ to begin the application process.
4. Fill in your personal details and provide all the necessary documents.
5. Submit your application form for review and processing.
6. After successful review of your application, you will receive an email notification confirming your application.
If the bank approves your application, you will receive the money in your bank account within 24- 48 hours.
Visit nairaCompare to know more about the Access Bank Quick Loan and other loans available.