How To Apply For Small Loans From Guaranty Trust Bank

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Humans have various needs that have to be satisfied but there are limited resources available for this to be accomplished and the more your needs are left unsatisfied, the more unfulfilled all your wants and desires appear.

Guaranty Trust Bank has various small loans or advances that helps fulfill your needs in which account holders can benefit from and in this article I would be highlighting some of them and how to apply for each of them.

Guaranty Trust Bank offers various forms of personal and small loans which include:

Salary advance

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School Fees Advance

Max Advance

For the salary advance loan, here is what you need to know:

This advance offers up to 50% of your net monthly salary upfront and it is available to staff of private companies and government agencies with active salary accounts domiciled in Guarantee Trust Bank.

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So you may be asking what I tend to gain from this application and her are the benefits:

  • 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.

You can apply for this loan by simply log in to Internet Banking or just dialing *737*8*2# to apply or alternatively, you can visit any Guaranty Trust Bank branch or ATM near you.

As a parent or guardian who is need of funds for their child or ward, you can get a school fees advance for the payment of tuition fees for child from Guarantee Trust bank.  School Fees Advance is a loan facility designed to finance the payment of your child or ward’s school fees for schools in Nigeria only. This facility is available to members of staff of public and reputable private organizations whose salaries are domiciled with the Bank.

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So why should I consider the school fee advance? If you are currently facing difficulty paying your ward’s school fees then here is why you should consider it:

  • 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.
  • Minimum loan amount is N50,000 and maximum loan amount of N1 million per child.

Here is how to apply to be a beneficiary of this loan programme:

  • Submit Completed Application Form and Employer Undertaking Form. The forms are available for download via the Guaranty Trust bank website: https://www.gtbank.com/personal-banking/loans/school-fees-advance
  • Provide School Fees bill and Credit Insurance.
  • Ensure that staff terminal benefit is domiciled in Guaranty Trust Bank or obtain Corporate Guarantee.
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Another loan scheme available is the Max advance. Max Advance is designed to facilitate personal loans to staff of select corporate and government organizations whose staff salary accounts reside with Guaranty Trust Bank. The minimum amount that the bank will avail to a customer is N100, 000.00 and the maximum amount for a MaxAdvance facility is N10,000,000.

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The minimum tenor is 3 months while the maximum tenor for this loan is 48 months. And for the repayment an equal monthly repayment comprising principal & Interest. Monthly repayment shall not exceed 33.3% of net monthly.

The documents for application includes:  Application form and Employee Undertaking to domicile salary and terminal benefits. To download the form or gain more information, kindly visit: https://www.gtbank.com/personal-banking/loans/maxadvance

These are some of the loan facilities offered by Guarantee Trust bank in the bid to address customers’ needs.  For more updates on loans offered by Guarantee Trust bank, stay tuned to this platform.

 

 

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