Access Bank Loan: How to Borrow Money from Access Bank, Requirements, USSD Code

Access Bank Loan- How to Borrow Money from Access Bank, Requirements, USSD Code

Access Bank Loan: How to Borrow Money from Access Bank, Requirements, and The USSD Code Option.

In Nigeria, getting a loan is unavoidable, whether it is from a family member or a business; practically everyone has a tale about needing a loan.

The Access Bank Loan is intended to meet the necessity that prompted your first request.

Loan Product Categories Provided by Access Bank

Loans for the Creative Sector: These loans from the Central Bank of Nigeria are intended to build capacity and create jobs for people and enterprises in sectors including fashion, information technology, film production and distribution, music, and so on.

The Lending Against Turnover (LATO):  is an instant loan product intended for non-salary account holders who have been doing business with the Bank for at least six months. This kind of loan is for 30 days and doesn’t demand any collateral or paperwork from the recipient. Applying for this type of loan is simple with the Access Bank loan code: *901*11*1#. For loans in Nigeria, see the USSD code.

Personal loans: Via a salary administration solution, this category of loan aims to empower employees’ needs. It is flexible and has a 36-month duration.

Salary Advance: Access Bank offers employees a salary advance that allows them to access up to 100% of their net monthly compensation. Via their Quick Bucks app or USSD code, you may easily apply for it without providing any paperwork or collateral. The person has three months to repay.

Small Ticket Personal Loan: Access Bank would lend you up to 400% of your net monthly salary under this category of loan. This loan must be repaid in full within 12 months.

W Power Loan: The W Power Loan from Access Bank fills the funding gap faced by female-owned enterprises. They have access to loans and credit options thanks to W Power Loan.

Advance for School Fees: As a parent or ward, you have the option of borrowing money to cover your ward’s or child’s tuition. You may also borrow money to pay for professional training programs and certificates with this kind of loan.

Device Finance: this is a loan program offered by Access Bank to assist you in financing the purchase of mobile devices.

Support for Maternal Health Services (MHSS): This loan is intended to pay for operations connected to conception and reproduction.

Car Financing: If you’ve been seeking a convenient way to buy a new car, an Access Bank vehicle finance loan will provide you with the funds you need. Salary earners, Business proprietors, and corporate entities are all welcome. You have access to a large range of suppliers, and you have 48 months to repay the loan.

Criteria for Bank Loans and How to Get a Loan from Access Bank

You must have a business plan or a statement of how much money you need for your company to qualify for the creative industry loan.

You require a phone number that is connected to your BVN and proof that you got a salary check in the previous month in order to be approved for the LATO loan, small ticket personal loan, and salary advance loan.

A completed application form, an employer confirmation form, a copy of your employment ID, your BVN (see how to check BVN), credit checks, and a letter of lien are required for a personal loan.

A business must be 50% female-owned, have been in existence for at least a year, and employ at least two people to be eligible for a W power loan.

A properly completed application form, a formally accepted offer letter, a bill or invoice for school fees in the student’s name, a valid ID card, and a recent utility bill from the previous three months are required in order to receive an advance for school fees.

How to Repay a Borrowing from Access Bank

When you borrow money from Access Bank, they will fully explain to you how to pay it back.

After approximately 30 days of receiving the loan, you will pay in monthly installments. Every month, this sum is immediately taken out of your account to save you from the stress of visiting your banks.

This peculiarity is not limited to Access Bank. The same approach was used for loans from Zenith Bank and other institutions.

Queries and Answers

The following are typical queries regarding access to bank loans:

  1. What follows the loan’s approval?

Within 24 hours of your loan application being accepted, you should receive payment. However, based on the bank or lender involved, this time frame could be longer. Additionally, before you can withdraw money from some banks, you might need to provide them with specific papers.

  1. What is the loan application fee?

The loan application fee is the percentage lenders tend to charge during the process. It usually varies from 0.1% to 5% or more. In recent times, most lenders tend not to charge loan application fees anymore in a bid to attract more customers. 

  1. What will happen if I wasn’t able to pay back at the right time?

The exact penalty that follows being unable to pay back at the right time depends on your agreement. Usually, the penalties are stated in the loan terms and conditions and are enacted once there’s a default. Most lenders either increase the interest percentage or sell off collaterals. Access bank automatically deducts the due sum from your account on the due date.


Access Bank has made it easier for Nigerians to obtain quick loans by offering a variety of loan products. They offer a variety of channels through which you can easily access their loans and inquire about them to make things easier for you. Their Access Mobile App, Internet Banking, WhatsApp Banking, and QuickBucks App are just a few of their available platforms.

Additionally, you can obtain the Development Bank Loan by going directly to any Access bank branch.