As a salary earner who’s paid at the end of the month, you are eligible to receive a salary advance from GTBank. What this means is that before your salary arrives, you can get a part of it, or even everything as your situation may demand.
This post focuses on everything you need to know about getting a salary advance from GTBank. The interesting thing is that you can choose to use the GTB USSD code, mobile app, or internet banking to secure your salary advance.
How to Get a Salary Advance Using GTBank USSD Code
GTBank through their salary advance USSD code has made it easy for salary earners to get a loan even before they are paid their salary. To use the salary advance code to loan, dial *737*8*2#. The code allows users to get as much as 50% of their monthly salary take home, which is the net salary, or a 1.5% interest rate monthly without a collateral to be paid back after 30 days.
Requirements for GTBank Salary Advance Loan
So, how do you get this loan? To get the salary advance loan offered by this bank, 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.
GTBank Salary Advance Repayment Plan
Once you’ve been deemed eligible to apply for the loan, the bank proceeds to give you as much as 50% of your net salary. However, it is expected that you repay the loan after 30 days. So, the GTBank salary advance repayment plan is strictly for 30 days.
The loan comes at an interest rate of 1.5% monthly of the amount borrowed. For instance, if a salary earner borrows N50,000, he is expected to pay back N50,750 after 30 days.
How to Get a Salary Advance Using GTBank Mobile App
Apart from using the USSD code, you can use the GTBank Mobile App to get a salary advance. The GTBank Mobile App can be used to secure a loan as a salary earner.
Here are the steps for getting the loan via the app:
Install the GTBank Mobile App on your phone
Open the GTBank Mobile App on your phone
Locate the options icon and tap quick loans
Proceed to quick credit Select the loan amount and tenor
Put in your transaction PIN or password
Agree with the terms and conditions of the loan and tap ‘Accept Now’ on your phone screen Within 24 hours your loan will be disbursed.
How to Get a Salary Advance Using GTBank Internet Banking
If the USSD code and Mobile App isn’t feasible for you, now is time to try the other alternative method – GTBank Internet Banking.
To secure your salary advance loan using internet banking, use these steps:
Login to the internet banking and input your details
Locate quick loans on the screen and click quick credit
Select new request
Select the account to credit and click on determine eligibility
Input the loan amount
Select the loan tenor
Agree with the terms and conditions of the loan
Proceed to answer your secret question prompt
Click continue
Enter your token code
Wait for 24 hours for your loan to process
Paying Back GTBank Salary Advance Loan
To repay the GTBank salary advance loan, there isn’t much to do. The process is handled by the bank itself.
Once your salary comes in, the bank deducts the loan. And if you wish to clear your loan before the due date, you can also deposit the amount borrowed so it can be deducted.
