Guaranty Trust Bank limited (GTBank) is a multinational financial institution that provides individuals, businesses, private and public institutions across Africa and the United Kingdom with a broad range of market-leading financial products and services. Headquartered in Lagos, Nigeria. The following are the available loan scheme for GTBank customers
Salary Advance
Salary Advance - Get up to 50% of your net monthly salary upfront. Available to staff of private companies and government agencies with active* salary accounts domiciled in GTBank.
What’s in it for you?
- Up to of 50% of net monthly salary in advance.
- Tenor of 30 days. Renewable monthly.
- No collateral required.
- Minimum salary of N 25,000 for public sector and N 50,000 for private sector employees.
- Salary advance will be made available within 24 hours.
Who Is Eligible TO Apply for Salary Advance
Salary earners whose salary account is domiciliary with Gtbank and have run it for the minimum period of six months.
How to Apply for Salary Advance
- Simply login to Internet Banking
- Dial *737*8*2# to apply
- Visit any GTBank branch or ATM near you
School Fees Advance
School Fees Advance - is a loan facility designed to finance the payment of your child’s/ward’s school fees for schools/institutions in Nigeria only. This facility is available to members of staff of public and reputable private organizations whose salaries are domiciled with the Bank.
What’s in it for you
- Up to N5 Million School Fees Advance. Maximum tenor of 4 months per request.
- Very Competitive interest rate. Equal monthly repayments comprising of principal and interest.
- Immediate access to funds for the prompt payment of your child/wards school fees.
How to Apply for School Fees Advance
- Submit Completed Application Form and Employer Undertaking Form.
- Provide School Fees bill and Credit Insurance.
- Ensure that staff terminal benefit is domiciled in GTBank or obtain Corporate Guarantee.
What is School Fees Advance?
School Fees Advance is designed to finance the payment of your child’s/ward’s school fees.
What type of facility is School Fees Advance?
A time loan.
What is the tenor for a School Fees Advance?
Maximum of 4 months.
What is the minimum loan amount?
N50, 000.
What is the maximum loan amount?
A maximum loan amount of N1million is applicable per child.
Does the beneficiary need to have his/her salary account with GTBank?
Yes.
What is the required length of salary account relationship?
The customer must have received their salary through their GTBank account in the last 1 month.
Can the customer apply for School Fees Advance if she/he has an existing facility with the Bank?
Yes, provided the monthly loan repayment does not exceed 50% of his/her net monthly salary.
Can the customer reapply at the expiration of the facility?
Yes.
What document is required for a School Fees Advance?
The application form, employer undertaking and school bill with details of the schools bank account.
Can I pay for my child/wards school fees abroad?
Yes, it can be used to pay for tuition fees for schools abroad
Can I pay for my Master’s or Doctorate education?
No. School fees Advance is for the payment of your child/wards school fees
How is the school bill paid?
The bill is paid either by a direct transfer to the schools bank account or by raising a draft in the name of the school.
Is there any insurance on the loan?
Insurance is in place against death and permanent disability.
Is there a minimum salary amount that I need to earn to be able to apply for School Fees Advance?
Yes, minimum monthly salary of N25, 000 for public sector employee and N50, 000 for private sector employee.
Can the loan amount exceed the total school fees?
No. The loan amount can either be equal to or less than the total school fees.
Can unconfirmed staff of an organization apply for School Fees Advance?
No. The staff should have worked for at least 6 months and also be a confirmed staff.
MaxAdvance
MaxAdvance is designed to facilitate personal loans to staff of select corporate and government organizations whose staff salary accounts reside with us.
Features
Facility Amount: N100,000 to N10,000,000
Tenor: 3 - 48 Months
Repayment: Equal monthly repayment comprising principal & Interest. Monthly repayment shall not exceed 33.3% of net monthly
Support/Comfort: Salary Domiciliation, Credit Insurance, Domiciliation of staff terminal benefit or Corporate Guarantee
Benefits
An all-purpose loan for you to meet your financial needs with a convenient repayment plan.
Documentation
MaxAdvance Application Form for Non Private Organization’s
MaxAdvance Application Form for Private organizations
Employee Undertaking Form
Frequently asked questions on MaxAdvance (FAQs)
What is MaxAdvance?
MaxAdvance is a product that is designed to facilitate personal loans to staff of corporate organizations and public sector employees.
What type of facility is MaxAdvance?
Time/term loan.
What is the minimum facility amount?
The minimum amount that the bank will avail to a customer is N100, 000.00
What is the maximum facility amount
The maximum amount for a MaxAdvance facility is N10,000,000
What is the minimum tenor?
The minimum tenor is 3 months
What is the maximum tenor?
The maximum tenor is 48 Months
What is the mode of repayment?
Equal monthly repayment of principal and interest shall not exceed 33.3% of net monthly salary.
Who is our target audience?
It is available to confirmed staff of approved corporate organizations and civil servants whose salary accounts are domiciled with the bank.
What is the turnaround time for disbursement?
The turnaround time for disbursements of funds is 48 hours from receipt of completed documents.
Is the customer required to make any contribution?
No. MaxAdvance is a consumer loan that requires no equity contribution.
What documents are required under MaxAdvance?
The documents required from the customer are Application form and Employee Undertaking to domicile salary and terminal benefits.
Do I need to define the purpose of the facility?
No, MaxAdvance can be used for any purpose.
MaxPlus
MaxPlus offers you a larger loan facility and greater flexibility to meet your financial needs with a convenient repayment plan. Available to platinum customers whose salary accounts are domiciled with the Bank. Terms and Conditions apply.
What’s in it for you?
Get loan of between N6 Million and N50 Million.
Tenor of up to 60 months. Monthly repayment cannot exceed 50% of net monthly salary.
Equal monthly repayment comprising principal & Interest.
No collateral required.
What you’ll need?
MaxPlus Application Form
Employee Undertaking Form
What is MaxPlus
MaxPlus is a product that is designed to facilitate personal loans to staff of corporate organizations and public sector employees.
What type of loan is MaxPlus?
Time/term loan.
What is the minimum tenor?
3 months
What is the maximum loan amount?
The maximum amount for a MaxPlus loan is 50million.
Is there a minimum salary band to qualify for MaxPlus?
Yes, minimum net annual income of N20million
What is the maximum tenor?
60 Months
What is the mode of repayment?
Repayment shall not exceed 50% based on any of the under listed repayment option
Equal monthly repayment of principal and interest.
Monthly interest and principal (annually, bi-annual or quarterly)
Specific months as determined by applicants’ income cash flow
Who is our target audience?
Platinum Banking individual who is a staff of approved private and public organizations with a minimum net annual income of N20million, whose salary accounts are domiciled with the Bank.
What is the turnaround time for disbursement?
The turnaround time for disbursements of funds is 48 hours from receipt of completed documents.
Is the customer required to make any contribution?
MaxPlus is a personal loan that requires no equity contribution.
What documents are required under MaxPlus?
The documents required from the customer are Application form and Employer Undertaking to domicile salary.
Do I need to define the purpose of the loan?
No, MaxPlus can be used for any purpose.
Can I access GTMortgage to acquire a flat?
Yes, GTMortgage can be accessed to acquire flats in locations approved by the Bank.
GTMortgage
GTMortgage offers credit facilities to customers whose salaries or business proceeds are domiciled with the Bank to enable them own a home in selected cities within the country.
Features
Facility Amount
Category Description Minimum (N) Maximum (N)
A Low density residential locations in Abuja and Lagos 5million 150million
B Medium density residential locations in Abuja, Lagos and other state capitals 5million 50million
Tenor 1 - 20years (but subject to a maximum age of 55 when loan expires)
Repayment Flexible repayment options:
a. Equal monthly repayment comprising principal and interest.
b. Annual, semi-annual or quarterly principal repayment while interest will be serviced monthly. Monthly repayment shall not exceed 50% of net monthly salary.
Documentation
Completed Application Form
Title Document of Property
Offer Letter to Sell property from vendor
Valuation report from any of the Banks approved estate valuer
Search report from GTBank Legal Group
GT Mortgage FAQ's
Frequently asked questions on GTMortgage.
What is GTMortgage?
GTMortgage is a product which offers credit facilities (term loans) to part finance applicant’s acquisition of residential property in locations acceptable to GTBank.
What is the maximum loan amount an applicant can access on GTMortgage?
N150 million.
What is the minimum facility amount on GTMortgage?
N5 million.
What is the security on GTMortgage?
The security is legal mortgage on the property financed.
What repayment options are available on GTMortgage?
An applicant has the flexibility of choosing either equal monthly repayment comprising principal and interest or quarterly, semi-annual or annual repayment of principal while servicing interest on monthly basis.
What maximum portion of my net monthly salary can be used to repay GTMortgage facility monthly?
An applicant can service GTMortgage facility with maximum of 50% of net monthly salary.
What documents are required for GTMortgage Approval?
Offer from vendor
Copy of the title document
Duly completed GTMortgage loan request form
Duly completed GTMortgage Employer Undertaking form (v) Clean Search report (vi) Valuation report.
What is the maximum tenor on GTMortgage?
The maximum tenor on GTMortgage is 20 years. However, this is subject to the number of years to retirement, whichever is shorter. Based on the retirement age of 55 years, an applicant that is 45 years can only borrow for a maximum of 10 years.
What is the employment status of a GTMortgage applicant?
The applicant should be a confirmed staff of a reputable company and must have worked with the current employer for at least one month.
Would the property be insured?
Yes, the property would be comprehensively insured against fire and special perils at a premium to be borne by the applicant.
Is GTMortgage available for financing of landed properties?
No.
Where are approved locations by GTBank for GTMortgage?
Approved locations by GTBank for GTMortgage include: low and medium density areas in Lagos, Abuja, Port Harcourt and all states capitals.
Premium Advance
Always there, when you need funds the most, Premium Advance is a revolving overdraft facility placed on your Debit Naira MasterCard.
What’s in it for you?
Up to N1 Million overdraft with a 1 year Tenor (subject to clean-up every 30 days).
Very Competitive interest rate. 2% flat fee on N1million upon first utilization.
Overdraft accessible via Naira Debit MasterCard (for ATM withdrawals, POS purchase and web payments)
Monthly repayment of interest with bullet payment of principal at end of cycle.
Requirements for Premium Advance
For Platinum customers only.
Average monthly salary should not be less than N1million in the last six months.
Annual turnover should not be less than N10million.
You should have received your salary through your GTBank Account in the last three months consecutively.
Please ensure that you do not have any past due obligation with GTBank or other banks.
How to Apply for Premium Advance
Simply submit completed Application Form and Employee Undertaking Form.
Computer Acquisition Scheme
Computer Acquisition Scheme offers a facility (time loan) to currently serving Corps members whose allowance accounts are domiciled with the Bank to finance the acquisition of mobile devices to be paid during the service year.
Features
Facility Amount Maximum loan amount is N60,000
Tenor 3 – 10 months
Repayment Equal monthly installment of principal and interest over the tenor of the facility and shall not exceed 33.3% of Corps member’s monthly allowance
Support/Comport Corps member’s allowance must be domiciled with the Bank
Interest Rate Competitive
Benefits
Corps members get the mobile device with a flexible repayment plan
It allows Corp members more information, knowledge and acquisition of skills
What you’ll need?
Completed Application Form
Employer Undertaking Form
Domiciliation of NYSC allowance with the Bank
All applications to be completed during the NYSC orientation activities
Get More Out of Your Account with Quick Credit
As a salary earner, you can now get the cash you need instantly, and pay back in up to 12 months. Quick Credit gives you funds up to N5million at an interest rate of 2.0% monthly.
No Hidden Charges.
What's In it for You
Get up to 3 times your monthly salary
Convenient repayment plan of up to 12 months.
Pre-liquidation is allowed without penalty
Interest rate of 2.0% per month
How to Apply
You can request for QuickCredit instantly by dialing *737*51*51#
QuickCredit is also available on all GTBank online and mobile banking platforms (Internet Banking, GTWorld and GTBank Mobile App)
. What is QuickCredit?
QuickCredit is a time loan accessible to Salary and non- salary account holders.
Terms and Conditions
Definition of terms
The Borrower: This refers to the Applicant
Lender: Guaranty Trust Bank Limited
Facility Type: Quick Credit
Loan Purpose: To finance personal needs.
Interest Rate: 2.0% per month, (approximately 24.0% per annum)
Tenor: Maximum of 12 (Twelve) months, pre-liquidation is allowed without penalty.
Repayment: Equal monthly repayment compromising principal and interest, pre-liquidation is allowed (without penalty)
Credit Insurance: 1% flat (One-Off Charge)
Security/Comfort: Domiciliation of Borrower's salary with GTBank or deduction from salary for loan obligations from salary for loan obligations from pay point.
Travel Advance
Take a Break when you Need One.
Travel Advance is a time loan designed to meet the travel needs of our customers whose salary accounts are domiciled with the Bank.
Travel Advance is available for:
Airline Ticket
Hotel Reservation
Airport Pickup and Transfer
Tours and Events
Travel advance 19
Features
Facility Amount N250,000 to N3,000,000
Maximum Tenor 12 months
Interest Rate 20% per annum (subject to money market conditions)
Comfort/Security: Domiciliation of salaries and allowances
Eligibility
Customer must have their salary account domiciled with GTBank.
Customer must have received his/her salary through GTBank in the last three months from the same employer.
Salary must be paid in Naira (NGN).
How to Apply for Travel Advance
Login to Internet Banking
Click Travel Advance under Investments and Quick Loans
Select Travel Advance and initiate a New request
Fill the required details
Authorize your request by inputting the 6 digits on your token and submit
Conclusion: The article leverages on the GTBank loan and the seamless ways to access the loan without much difficult, this would give easy access the loan with a just a simple dial of code and don't forget to visit GTBank close to you for more enquires. We believe this article will be helpful to you, happy reading.
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