While GTBank salary advance loan has become one of the most popular loans sought for among Nigerian employees, the bank has also got other types of loans that are provided to Non-Salary earners.
As a small business owner, self-employed or if you are into a business that’s not salary-based, you can still take the opportunity of other various loans GTBank offers. In this post, we will be looking at other types of loans that a non-salary earner can get from GTbank.
Can Non-Salary Earners Apply for GTBank Loan?
This is a question that is often asked: can non-salary earners apply for GTBank loans?
The answer is yes. Non-salary earners can apply for GTBank loans. However as a non-salary earner, you cannot take the salary advance loan. Salary advance loan is designed for people who earn salaries and have a salary account that is active.
The next two paragraphs will explain that.
To get the salary advance loan offered by GTBank, you are expected to have an existing salary account that is active. Once this exists, and the bank has deemed you eligible, you can use your phone to apply for the loan by first using the phone number that is linked to your BVN and bank account.
This is applicable to all mobile networks in Nigeria, whether it is MTN, Glo, Airtel or 9 Mobile. Just make sure it is the phone number linked to both your BVN and bank account. The loan does not discriminate between private and public workers.
What’s important is that you have an active salary account. In addition, you must be earning at least N25,000 as a government worker, or N50,000 as a private employee. Once this is confirmed, you get up to 50% of your salary.
Loans Available for Non-salary Earners Unlike the salary advance loan, non-salary earners can apply for other loans excluding the formerly mentioned.
The requirements and eligibility for these loans are also different. Remember that GTBank offers various loan products that meet different customer segments. Here are other types of loans non-salary earners can apply for:
GTBank Quick Credit: This loan has no collateral, and no salary deduction.
GTBank Micro, Small and Medium Enterprises (MSME) loan: This is a loan offered for the purpose of business.
GTBank School Fees Loan: This is a type of loan that is meant for education expenses.
GTBank Credit Lite: This is an unsecured personal loan.
Eligibility Criteria:
You must be between 18-60 years
You must have an active GTBank account.
You must have a good credit score.
Steady income.
In order to borrow or take a loan, you must have a steady income, whether you are self-employed or a business owner.
Required Documents
The required documents are valid government-issued ID, business registration for those seeking MSME loans, financial statements for self-employed, and tax returns.
Application Channels for Non-salary Earners Loan
GTBank Mobile App
GTBank Internet Banking
GTBank Branches
GTBank USSD code
Non-salary earners seeking to get a loan from GTBank should get the necessary knowledge on interest rates, loan tenor and repayment capacity before making a decision.
