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How to Apply For Gtbank Quick Credit Loan

Gtbank is one of the leading banks in Nigeria with branches scattered all over the country and in many African countries.

Gtbank Nigeria has several loan packages tailed towards assisting is customers nationwide but one of such loan is the Gtbank Quick Credit loan facility. To know more about the quick credit loan and how to obtain it please read through the simple guide below.

Gtbank Quick Credit Loan

Eligibility For Quick Credit

Whether you are a salary earner or self-employed, you can now get the cash you need instantly, and pay back over 6 – 12 months. Quick Credit gives you funds up to N5million at an interest rate of 1.33% monthly.

No Hidden Charges.

Applicant must have not be less than 18 years at loan application date and should not be older than 59 years at loan maturity date.

Amount Available for Quick Credit Loan

Minimum; N10, 000
Maximum: N500, 000 – 5 Million

Quick Credit Loan Tenor;

Convenient repayment plan spread over 6 – 12 months.

Quick Credit Loan Interest Rate

At an interest rate of 1.33% per month
How to Apply For Gtbank Quick Credit Loan

How to access Gtbank Quick Credit Loan

You can request for Quick Credit instantly by dialling *737*51*51#
Quick Credit is also available on all GTBank online and mobile banking platforms (Internet Banking, GTWorld, GTBank Mobile App and Habari App)


1. The Borrower shall repay the principal and interest in 6 – 12 (Six to Twelve) equal monthly installments.
2. The Borrower hereby authorises the Bank to debit [his/her] salary account for the monthly loan obligations or authorize the Payroll Service Provider to deduct the monthly loan obligation comprising principal and interest prior to crediting his/her account with the Bank.
3. Reserved interest rate chargeable on the Borrower’s account shall be the Bank’s prime lending rate from time to time.
4. Interest will be charged on all amounts owed by Borrower.
5. In the event of restructuring, a facility restructuring fee of 0.5% of the outstanding amount shall be charged.
6. A late repayment fee of 1% flat per month (approximately 12% p.a.) over the approved lending rate shall be applied on the outstanding unpaid obligation without recourse to the Borrower.
7. In the event of default by the Borrower in making any repayment on due date, the outstanding principal amount and accrued interest shall be conclusive evidence that a sum is due and owing from the Borrower.
8. In the event of default by the Borrower under this facility, the Bank reserves the right at its discretion, to transfer the defaulting account to a third party agency to recover any outstanding debt due to the Bank. In addition, in the event of a loss of job leading to a default, the Bank shall transfer the defaulting account to the designated insurance company to recover any outstanding debt paid on behalf of the Borrower.
9. The Bank shall advise the Borrower of any change in prime lending rate, charges, fees or any other terms and conditions of the loan by a notice at its branches in Nigeria or by notes in customer statements.
10. The Borrower hereby covenants, as a condition precedent to the disbursement of the facility herein, to irrevocably and unconditionally authorize the Borrower’s Payroll Payment Service Provider, to remit the Borrower’s emoluments into the Borrower’s account with the Bank. In addition, the Borrower hereby unconditionally covenant to the Payroll Payment Service Provider that while any sum granted to the Borrower hereunder shall remain unpaid, the Payroll Payment Service Provider shall pay to the Borrower’s account with the Bank, any emoluments due to the Borrower in the event of the Borrower’ exits from the employ of the Employer, provided such sums so payable shall not exceed the total sum outstanding under the facility and other unpaid charges as advised by the Bank.
11. The Bank may at any time and without notice to the Borrower, combine all or any of the Borrower’s account and liabilities with the Bank in Nigeria (or elsewhere) whether held solely or jointly with any person(s) and set off all or any monies standing to the credit of the Borrower in such accounts, including the Borrower’s deposits with the Bank (whether matured or not) towards satisfaction of any of the Borrower’s liabilities to the Bank, whether as principal or surety, actual or contingent, solely or jointly, primary or collateral with any other person and the Bank may effect any necessary currency conversion at the Bank’s own rate of exchange then prevailing. Exchange risks associated with any collateral, cash or otherwise in satisfaction of outstanding debt shall be borne by the Borrower.
12. As repayment source for the facility hereby advanced, the Borrower hereby undertake to authorize [his/her] Payroll Payment Service Provider to pay the Borrower’s repayment amount into the Borrower’s account maintained with the Bank, while the Borrower’s obligations under this loan facility remains undercharged.
13. All funds to be cleared into the accounts of

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the Borrower maintained with the Bank shall first be applied towards the discharge of overdue interest and charges/fees. Any balance thereon shall be applied to liquidate the outstanding principal sum under the credit facility herein granted, provided always that the Bank reserves the right to refuse to accept post-dated cheques or other such instruments towards payment or settlement of the credit facility.

14. The Bank may use any information relating to the Borrower for evaluating the credit application. The Bank may at its sole discretion as it shall consider appropriate give to and receive from credit bureaus and reference agencies whether based locally or abroad, other financial institutions, regulatory and law enforcement agencies and relevant third parties information about the Borrower, including information on the conduct on the Borrower’s account together with details of any non-payment or delayed payments for the purpose of assisting them and/or the Bank in making lending or rating decisions about the Borrower.

15. The Borrower authorizes the Bank to obtain and retain on the Credit Risk Management System of the Central Bank of Nigeria, all information relating to the Borrower’s Bank Verification Numbers and the status of indebtedness.

16. The Borrower hereby irrevocably undertakes to fully indemnify the Bank against all cost and expenses (including legal fees, collection commission et cetera), arising in any way in connection with the Borrower’s accounts; in enforcing the terms and conditions herein; or from the recovery of any amounts due to the Bank or incurred by the Bank in any legal proceedings of whatever nature.

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17. The Borrower hereby irrevocably undertakes to fully liquidate the outstanding balance on the facility herein granted in the event that the Borrower decides to change [his/her] employment or [his/her] employment is terminated, which liquidation shall be effected on or before the effective date of such change or termination of employment.

18. The terms and conditions contained binds the Borrower and is not assignable.
19. The Borrower covenants and warrants that, in making any repayment on due date in the event that the loan repayment period or day falls on a weekend or public holiday, the effective loan repayment day shall be the preceding business day.
20. By signing the offer letter/loan agreement and by drawing on the loan, I covenant to repay the loan as and when due. In the event that I fail to repay the loan as agreed, and the loan becomes delinquent, the bank shall have the right to report the delinquent loan to the CBN through the Credit Risk Management System (CRMS) or by any other means, and request the CBN to exercise its regulatory power to direct all banks and other financial institutions under its regulatory purview to set-off my indebtedness from any money standing to my credit in any bank and from any other financial assets they may be holding for my benefit.

21. I covenant and warrant that the CBN shall have power to set-off my indebtedness under this loan agreement from all such monies and funds standing to my credit/benefit in any and all such accounts or from any other financial assets belonging to me and in the custody of any such bank.
22. I hereby waive any right of confidentiality whether arising under common law or statue or in any other manner whatsoever and irrevocably agree that I shall not argue to the contrary before any court of law tribunal, administrative authority or any other body acting in any judicial or quasi-judicial capacity. All other rights reserved.
23. There may be a need, at the instance of the Bank to vary the terms of the facility in the event of changes in interest rates and/or foreign exchange rates arising from any change in market conditions at any time after the drawdown of the facility.

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24. The borrower hereby agrees that in addition to any general lien or similar right to which you as Bankers may be entitled by law, you may at any time and without notice to me deduct from and/or restrict the funds in my account(s) to liquidate my/our loan obligation whether or not due.
25. The borrower hereby acknowledges and gives consent that the Bank may at its sole discretion as it shall consider appropriate, exchange information with my employer, on the conduct of my account together with details of any non-payment or delayed payments for the purpose of assisting them and/or the Bank in the loan recovery efforts.

26. The Bank is regulated by the Central Bank of Nigeria.
27. The interest charged is the effective interest rate which is the interest rate that is paid on your loan due to the result of compounding over a given time period and this is payable monthly.
28. I hereby waive the need to review the facility document(s) within forty-eight (48) hours of receipt of same and confirm my acceptance of the terms contained in the facility document(s).

29. I confirm my acceptance of the terms of the facility. Notwithstanding anything herein contained, express or implied, I hereby confirm that the Bank may at any time and without notice to me deduct any amount due to the Bank from my account(s) as a result of me rejecting the facility within three (3) days of my/our acceptance.

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