Loan Type |
Available to |
Loan Amount |
Repayment Plan |
Pricing |
PayDay loan |
Salary account holders with Access Bank
|
Up to 75% of monthly salary |
Against next Salary payment or 30 days (whichever comes first) |
Interest 4% Flat
Management fee 1%
Credit Life Insurance 0.15%
Penal Charge 1% per month upon default
Please note that all these will be take upfront at the point of disbursal |
Other bank customers whose salaries are processed via IPPIS or Remita |
Up to 55% of monthly salary, but subject to a max. of N500,000 |
Against next Salary payment or 30 days (whichever comes first).
Deduction will be taken at source from your other bank account |
Lending Against Turnover (LATO) |
Customers who maintain an average balance of ₦20,000 over six months |
Up to 20% of Average Turnover, subject to a max. of ₦50,000 |
90 days with repayment over Three (3) monthly instalments |
Interest 4% Flat
Management fee 1%
Credit Life Insurance 0.15%
Penal Charge 1% per month upon default
Please note that all these will be take upfront at the point of disbursal |
Device Finance |
Salary account holders with Access Bank & other bank customers
|
Up to 33% of annual salary, but subject to a max. of N500,000 |
12-months with monthly deductions |
Mark-up fees vary: Devices are purchased at discounted rates and sold at market value
Credit Life Insurance 0.5%
Penal Charge 1% per month upon default
Please note that all these will be take upfront at the point of disbursal |
Salary Advance
(SADV) |
Salary account holders with Access Bank who earn a minimum of N100,000
|
Up to 100% of monthly salary |
90 days with repayment over Three (3) monthly instalments |
Interest 4% on reducing balance
Management fee 1%
Credit Life Insurance 0.2%
Penal Charge 1% per month upon default
Please note that all these will be take upfront at the point of disbursal |
Small Ticket Personal Loan (STPL) |
Salary account holders with Access Bank who earn a minimum of N150,000
|
Up to 200% of monthly salary |
180 days with repayment over Six (6) monthly instalments |
Interest 4% on reducing balance
Management fee 1%
Credit Life Insurance 0.33%
Penal Charge 1% per month upon default
Please note that all these will be take upfront at the point of disbursal |