GTB Loan Code for Salary and Non Salary Earners

Sometimes, it’s much better to take a break from loan sharks and patronize traditional loans from banks like GTB (Guaranty Trust Bank) and pay back without a headache. You can apply for these personal loans as a salary earner, a pensioner, or a non-salary earner, and get it instantly. Normally, you need a bank app for loan application, right? But with a bank like GTB, you can use USSD code to apply for a loan. The GTB loan code is *737*51*51#.

GT Bank is a lending app owned by Guaranty Trust Bank Plc . This is a commercial bank and also a legit lender because it is licensed as a commercial bank by the CBN (Central Bank of Nigeria). GTB is not listed in the FCCPC (Federal Competition and Consumer Protection Commission) list as it’s not solely a lender. The address is 635, Akin Adesola Street, Victoria Island, Lagos. The website is gtbank.com.

GTB Loan Code in Nigeria

GTB loan code is *737*51*51#. Dial this code to access QuickCredit for instant loan. QuickCredit is a time loan for both salary and non- salary account holders.

We also have a GTB salary advance loan, which is specifically for salary account holders. The loan application code is *737*8*2#. For salary advance, GT Bank can give you up to 50% of net monthly salary in advance for 30 days. However, you have to be earning a minimum salary of 25,000 naira (public sector) or 50,000 naira (private sector).

So, both the QuickCredit and salary advance loans are unique. One the former allows non-salary account holders while the latter doesn’t.

Is GT Bank Legit for Borrowing Money?

Yes, GT Bank is legit, and licensed as a commercial bank by the CBN. However, it doesn’t mean that this app is perfect. In fact, GT Bank has its own flaws. The biggest advantage is that GTB is not a loan shark, like those loan ads we find all over social media with their predatory offers.

For the QuickCredit loan, GT Bank charges a monthly interest rate of 2.4%. It can be higher depending on your credit history and the loan amount you want to borrow. The minimum loan amount is 5,000 naira.

Your account must have at least 20,000 naira in lodgment per month or receive a net monthly salary of at least 10,000 naira.

How Does GTB Loan Code Work?

With *737*51*51# for the QuickCredit loan, you can borrow up to 5 million naira. If you dial this code as a new borrower hoping to receive an instant loan of up to 5 million naira, that’s giving you false hope. Your credit history needs to be very good to obtain this amount.

GT Bank promises up to 12 months of loan tenure for QuickCredit. However, the longer the tenure, the higher the interest you have to pay per month. So, if you take out a loan for 2 months, you know the interest will be lower than someone taking out the same loan for 12 months.

The amount of loan you can apply for is determined by the system but you can also visit any GT Bank branches and ask for a score to know how much money you can request.

GTB USSD Loan Application

Launch your phone app.

Dial *737*51*51# for a QuickCredit loan.
Apply for an instant loan.

If your loan application is approved, the money will be credited to your bank account. As for the eligibility, you have to be resident in Nigeria, up to 18 years old and not older than 59 years old.

Pros and Cons

Pros

GT Bank gives a loan
Available on USSD loan code
Licensed by the CBN

QuickCredit up to 12 months to pay back
Low monthly interest rates
GTB lends up to 5 million naira

Minimum loan amount is 5,000 naira.
This is an instant loan if you are an existing GTB customer.

Cons

You have to open a GT Bank account, and complete your KYC, which means the process won’t be instant

It’s not primarily an instant loan app
Requires good credit history
GTB charges 1% credit insurance fee

Is Your Personal and Bank Information Safe with GT Bank?

GT Bank has not had any major customer data abuse reports, and you can trust this bank app with your personal and bank information. It is a CBN-licensed commercial bank.

Personal information collected by GTB includes your name, age, email address, phone number, personal description, marital status, state, photograph, NIN, and home address (such as utility bill). Bank information collected by GTBank includes your BVN (bank verification number).

Verdict

GTB loan code is legit and it works. If you can’t afford to repay a loan, don’t bother borrowing money from GT Bank because your credit rating will reduce if you default. GT Bank gets a 5 out of 5 rating for its support for USSD loan code.