The GTBank Student Loan is a loan Package made available to employers who have financial issues to help pay for their wards’ schools.
This service is only for Students as long as the requirements concerning the loan are met. Also, the people allowed to get student loans are those within the country and must have an account with the bank.
GTBank offers to finance to individuals who are interested in purchasing a Student Loan and extreme security and reliance.
You will have access to requests for as much as 5 million as the maximum to pay up within 4 months. GTBank Student Loan just like Access bank loans equally has a discounted rate in the interest percentage.
This offers makes it appear as competition for other banking institutions who are also into giving out loan to an individual. To qualify for the Student loan you must be working for a well know organization, establishment, and ministry, and also must be a customer of GTBank.
Apart from Students loan, it offers other loan services such as GTBank Salary Advance, GTBank Max Advance Loan, and GTBank Business Loans.
GTBank Student Loan Features
It has a very competitive interest that makes it stand out different from other loan means. It offers monthly repayments of both the loan owed and the interest. This has made applicants make it their No.1.
On GTBank Student Loan, you can request as much as 5 million. Not only that within a space of 4 months, you can still apply for more.
This is really an amazing feature that gives applicants the opportunity to solve their financial issues anytime.
There is easy and instant access to cash once your application process is completed. This means that your bills can be taken care of almost immediately as long as the requirements are met and procedures verified.
How to Apply for GTBank Student Loan via Internet Banking
Using the internet banking app for GTBank, you can apply for a loan right from the comfort of your home. To do this. Follow the steps below:
- Ensure you have an internet connection on your device
- Login to GTB Internet Banking
- Locate loans and click on it
- Tap on the new request that pops up next
- Now select the account the loan will be dropped in
- Determine eligibility will display, make sure to click on it
- Click on enter loan amount or apply for the maximum eligibility amount
- Click the button to agree to the terms and conditions
- Here you will be required to provide an answer to a secret question
- Once the above is accomplished click on continue
- A token code will be sent to you, open it and enter it in the space provided
- After you have completed the above, click on submit.
You can also have access to the loan by using the USSD code provided by the bank.
Dial *737*8*2# to apply for any type of GTBank Loan. For GTBank Quick Credit Loan, use *737*51*51# to apply now.
GTBank Student Loan Interest Rates
As the loan packages differ so the interest rate differs. For the personal loan, it has an interest rate of 1.33%. Business Loan is up to 16% yearly, and Student Loan is 1%.
When it comes to the best products and services offered GTBank is counted as having a high rank in the country.
It also offers the re-liquidation of loans. This implies that the applicant does not have to fear any penalty if the agreement is bridged.
Check Eligibility and Requirements for GTBank Student Loan
For a person to qualify to get this loan, first, he must be eligible this only means that the person has to meet the required criteria.
These criteria are:
- An application form must be carefully filled out by the student
- There must be an employer’s undertaking form showing that the applicant is working.
- A valid means of identification is very important as it serves as an identity for the student.
- The school fees invoice must be provided stipulating the exact amount to be paid. This document should be gotten through the right source.
- The parent or applicant must submit a statement of account that shows that he is a customer of the Bank.
How Do I Qualify to Receive A Loan From GTBank?
For one to qualify to acquire a loan from GTBank, he must possess the following.
- Customers must either earn a minimum net monthly salary of N10,000 or have a minimum monthly placement of N20,000.
- The customer must not be known for writing bad checks.
- The customer’s credit records must be satisfactory.
- There must be no overdue debts owed by the customer.
GTBank Loan Alternatives
As discussed earlier aside from the Student loan, the banking procedures allow for other loans to be obtained using a different process.
The same interest rate applies to these loans too. To get to know the loan available for individuals, below is a list to guide you.
- GTBank Salary Advance. This is for their customers
- GTBank Travel Advance
- GTBank Mortgage
- GTBank Max Plus
- GTBank Vehicle Insurance Premium Financing
- GTB Quick Credit Loan
- GTBank Max Advance Loan
- GTBank Premium Advance
- GTBank Student Loan
Repayment of GTBank Student Loan
The penalty that may be attached to late repayment of the loan is determined by the bank and the terms and conditions made available during the time of form application.
This is followed up immediately if the applicant fails to keep up the agreement made. A bridge in agreement is not tolerated but it could be either lead to disaster.
Now, when an applicant can no longer meet up with the actual payment period and he pleads for an extension, the interest rate is increased or the collateral provided would be sold off.
GTBank provides some of the best loans for its clients to consider. There is something for everyone thanks to their diverse lending offerings, which range from income advances to loans for school expenses and Max Plus. Visit their app or any of their local offices to get started right away.