GTBank Loans

Guaranty Trust Bank plc (GTBank) was incorporated in 1990 as a limited liability company with a license to offer commercial and other banking services to the Nigerian public. The Bank began operations in February 1991 and has since evolved into one of Nigeria's most respected and service-driven financial institutions.

In September 1996, GTBank became a publicly traded company and earned the Nigerian Stock Exchange President's Merit Award. The Bank continued to win this prestigious award in subsequent years: 2000, 2003, 2005, 2006, 2007, 2008, and 2009. In 2002, GTBank received a universal banking license, and in 2003, it was appointed a settlement bank by the Central Bank of Nigeria (CBN).

In 2004, the Bank launched its second share offering, raising over N11 billion from Nigerian investors. This capital helped the Bank meet the CBN’s new requirement of a N25 billion minimum capital base, which was introduced in 2005 to strengthen and regulate the Nigerian banking sector.

Following the consolidation, GTBank shifted its focus to retail banking. In June 2005, the Bank underwent a major rebranding, launching a new and dynamic orange identity, expanding its service offerings, and pursuing an aggressive growth strategy.

In 2007, GTBank made history by becoming the first Nigerian financial institution to issue a US$350 million Eurobond under Regulation S, followed by a US$750 million Global Depositary Receipts (GDR) offering. With the GDRs listed on the London Stock Exchange in July 2007, GTBank became the first Nigerian company and African bank to be listed on the exchange’s main market.

In December 2009, the Bank completed its first tranche of a N13.165 billion Fixed Rate Senior Unsecured Non-Convertible Bonds due 2014, as part of its N200 billion Debt Issuance Programme.

Loan Types

1. Salary Advance

Imagine you have unexpected expenses before payday. GTBank's Salary Advance is designed for such emergencies, giving you access to up to 50% of your monthly salary in advance. It's available for both private-sector and government employees who have their salaries domiciled with GTBank.

Features:

• Up to 50% of your net monthly salary.
• Tenor of 30 days, renewable monthly.
• No collateral required.
• Minimum salary: N25,000 for public sector employees, N50,000 for private sector employees.
• Funds are available within 24 hours.

How to Apply:

• Log in to GTBank's Internet Banking platform.
• Dial 7378*2# on your mobile phone.
• Visit any GTBank branch or use a nearby ATM.

Example:

Chinedu works for a private firm in Lagos and earns a monthly salary of N100,000. Toward the end of the month, he needs some extra cash for a medical emergency. He applies for a Salary Advance and receives N50,000 within 24 hours, which he can repay within 30 days.

2. School Fees Advance

GTBank’s School Fees Advance provides loans to parents for paying their children's school fees in Nigeria. This facility is available to employees of public and reputable private organizations whose salaries are domiciled with GTBank.

Features:

• Loan amounts up to N5 million.
• Tenor of 4 months.
• Equal monthly repayments (principal and interest).
• Competitive interest rates.

How to Apply:

• Complete the application form and employer undertaking form.
• Provide the school fees bill and credit insurance.
• Ensure that your terminal benefit is domiciled with GTBank or secure a corporate guarantee.

Example:

Adamu needs to pay his daughter's school fees but doesn't have the funds on hand. He applies for a School Fees Advance of N2 million and repays it over four months, ensuring his daughter's education continues uninterrupted.

3. Quick Credit

Quick Credit is ideal for salary earners needing fast cash. You can borrow up to N5 million with a flexible repayment period of up to 12 months. The interest rate is a manageable 2.75% per month.

Features:

• Loan amount: Up to N5 million.
• No hidden charges.
• Flexible repayment plans of up to 12 months.
• Pre-liquidation allowed without penalties.

How to Apply:

• Dial 73751*51# on your mobile phone.
• Apply through GTBank’s Internet Banking or GTWorld app.

Example:

Titi, a marketing executive, needs extra funds to handle some family matters. She applies for Quick Credit, gets N500,000 instantly, and repays it over 12 months.

4. MaxAdvance

MaxAdvance is a personal loan designed for staff of select corporations and government organizations whose salaries are domiciled with GTBank.

Features:

• Loan amounts between N100,000 and N10 million.
• Tenor between 3 and 48 months.
• Monthly repayment should not exceed 33.3% of your net salary.

How to Apply:

• Ensure your salary is domiciled with GTBank.
• Submit the necessary forms, including the employer undertaking form.

5. MaxPlus

MaxPlus is for platinum customers who need a larger loan facility. The loan ranges between N6 million and N50 million, with flexible repayment plans.

Features:

• Loan amounts between N6 million and N50 million.
• Tenor of up to 60 months.
• No collateral required.

How to Apply:

• Submit the MaxPlus application form and employer undertaking form.
• Ensure your salary account is domiciled with GTBank.

6. Computer Acquisition Scheme

This facility is tailored for NYSC members who need to purchase mobile devices during their service year. The loan is repaid in monthly installments over a maximum of 10 months.

Features:

• Maximum loan amount of N60,000.
• Tenor between 3 and 10 months.
• Monthly repayment not exceeding 33.3% of the corps member's monthly allowance.

How to Apply:

• Complete the application form and employer undertaking form.
• Ensure your NYSC allowance is domiciled with GTBank.

7. GTMortgage

This mortgage loan is designed for customers who want to own homes in Nigeria. The loan covers residential properties in various locations, with flexible repayment terms extending up to 20 years.

Features:

• Loan amounts between N5 million and N150 million (depending on the property location).
• Tenor between 1 and 20 years.
• Flexible repayment options.

How to Apply:

• Complete the application form and submit the required property documentation.

8. Premium Advance

Premium Advance is an overdraft facility linked to your GTBank Debit Naira MasterCard, offering up to N1 million with a tenor of 1 year.

Features:

• Loan amount: Up to N1 million.
• Monthly interest repayments with bullet payment of principal.

How to Apply:

• Submit a completed application form and employer undertaking form.

9. Vehicle Insurance Premium Financing

This loan covers the cost of vehicle insurance premiums, allowing you to spread the repayment over 12 months.

Features:

• Loan amount between N20,000 and N5 million.
• Tenor: Maximum of 1 year.
• 1.67% monthly interest rate.

How to Apply:

• Apply via Internet Banking or GTBank’s GAPS platform.