How To Get A Loan From Access Bank

How To Get A Loan From Access Bank

Securing a bank loan can significantly impact your financial journey, whether you’re starting a new business, expanding an existing one, or addressing unexpected expenses.

Access Bank, a prominent banking institution in Nigeria, provides a range of loan products tailored to cater to a variety of financial requirements.

This guide explores the steps to secure an Access Bank loan, detailing the USSD codes, requirements, and eligibility criteria necessary to help you achieve your financial goals.

Understanding Access Bank Loans

Access Bank Loans are financial arrangements where the bank provides a specific amount of money to a borrower under agreed terms and conditions.

Borrowers are required to repay the loan amount along with accrued interest within an agreed-upon timeframe.

Access Bank offers various loan products, including personal, business, home, and car loans, each with unique eligibility criteria, interest rates, and repayment terms.

How Access Bank Loans Work

1. Loan Types and Eligibility

Access Bank provides several loan options:

  • Personal Loans: For individual financial needs like education, healthcare, and home improvement.
  • Salary Advance Loans: For salaried employees needing funds before payday.
  • Small and Medium Enterprise (SME) Loans: For business expansion, equipment purchase, or working capital.
  • Mortgage Loans: For purchasing or renovating homes.
  • Vehicle Loans: For buying new or pre-owned vehicles.

Eligibility criteria vary based on loan type, but generally include:

  • Being at least 18 years old
  • Having a steady income source
  • Owning a business with a track record of income (for SME loans)
  • Holding an Access Bank account (preferred but not always mandatory)

2. Application Process

The loan application can be initiated through:

  • Online: Through Access Bank’s Internet Banking portal or mobile application.
  • In-Person: By visiting an Access Bank branch.
  • USSD Code: For specific loans like Payday Loans using provided USSD codes.

Applicants must provide personal details, financial information, and loan specifics. Business loans may require additional business documentation.

3. Documentation and Verification

Required documents typically include:

  • Government-issued ID
  • Proof of income
  • Bank statements
  • Employment verification (for personal loans)
  • Business registration documents and financial statements (for business loans)

The bank will verify the submitted information, including the applicant’s credit history and repayment capacity.

4. Approval and Disbursement

Upon approval, Access Bank informs the applicant of the terms and conditions, including interest rates and repayment periods. Once terms are accepted, the loan amount is disbursed into the borrower’s Access Bank account or as specified in the agreement.

5. Repayment

Repayment terms vary by loan type and can be through monthly installments deducted directly from the borrower’s account. Access Bank offers various repayment channels, including direct debit, online transfers, and USSD payments.

6. Interest Rates and Fees

Interest rates and fees depend on the loan type, amount borrowed, repayment period, and the applicant’s creditworthiness. Reviewing these details helps borrowers understand the total loan cost.

Requirements to Get an Access Bank Loan

While specific requirements vary by loan type, general requirements include:

  • Basic Eligibility:
    • Age: At least 18 years old.
    • Nationality: Nigerian citizen or legal resident.
    • Income: Regular income source.
    • Bank Account: Active Access Bank account.
  • Additional Requirements:
    • Valid Identification: National ID card, passport, or driver’s license.
    • Proof of Address: Utility bill or bank statement.
    • Employment Verification: Employment letter detailing job title, salary, and commencement date.
    • Business Registration: For business loans.
    • Financial Documents: Tax returns or bank statements, as needed.

Access Bank Loan USSD Code

For convenience, Access Bank offers a USSD code (90111#) for its Payday Loan service. This code allows customers to apply for a loan directly from their mobile phones without internet access. Follow these steps:

  1. Dial 90111# from the mobile number associated with your Access Bank account.
  2. Follow on-screen prompts to proceed with the application.
  3. Enter the desired loan amount.
  4. Review and accept the terms and conditions.
  5. Confirm the loan disbursement.

Loan Approval Time

Access Bank generally processes personal loan approvals within 24 to 48 hours and business loan approvals within a maximum of five business days.

Processing time can vary based on application complexity, documentation completeness, and the bank’s workload.

Checking Your Access Bank Loan Status

You can check your loan status, balance, or details through various methods:

1. Access Bank Mobile App

  • Download and Install: Obtain the application from either the Google Play Store or Apple App Store.
  • Log In: Use your credentials.
  • Navigate: Go to the ‘Loans’ section to view details.

2. Access Bank Internet Banking

  • Log In: Access the Internet Banking platform.
  • Select Loans: Find loan-related information in the dashboard.
  • Check Status: View detailed loan information.

3. USSD Code Service

  • Dial USSD Code: 90100# or 42611#.
  • Authenticate: Follow prompts to view loan details.

4. Access Bank Customer Service

  • Call: Use the customer service number on the official website or debit card.
  • Inquire: Provide necessary information for verification.

5. Visit a Branch

  • Locate: Find the nearest Access Bank branch.
  • Inquire: Speak to a representative with valid ID and account information.

Types of Loans Offered by Access Bank

1. Personal Loans

  • Payday Loan: Short-term loan for salaried employees.
  • Personal Loan: For various personal needs.
  • Advance for School Fees: Financing for educational expenses.

2. Business Loans

  • MSME Loans: For small and medium enterprises.
  • Commercial Business Loans: For larger businesses.
  • Creative Sector Loans: For businesses in the creative industry.

3. Mortgage Loans

  • Home Loans: For purchasing or renovating homes.
  • Construction Loans: For building residential or commercial properties.

4. Auto Loans

  • Auto Loan: For purchasing new or pre-owned vehicles.

5. Education Loans

  • Advance for School Fees: For school fees and higher education.

6. Lending Against Turnover (LATO)

  • LATO: Instant funds based on monthly turnover, no collateral required.

7. Overdrafts

  • Personal Overdraft: Short-term overdraft for personal cash flow needs.

8. Agriculture Loans

  • Commercial Agriculture Credit Scheme (CACS): Funding for agricultural businesses.

9. Employee Loans

  • Salary Advance: Advance on salary for urgent financial needs.

10. Asset Financing

  • Leasing and Asset Finance: Financing for acquiring assets like machinery and vehicles.


Securing a loan from Access Bank can help meet personal or business financial needs. By understanding the USSD codes, requirements, and eligibility criteria, you can navigate the loan application process with confidence. E

nsure to review the bank’s latest information and guidelines for each loan product, and maintain good financial habits to improve your chances of loan approval and overall financial health.

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