Salary Advance

It is an instant digital loan product, under the PayDay Loan scheme, which is targeted at Access Bank customers who receive their salary in their Access Bank account, and meet the Bank’s risk acceptance criteria (RAC).

You can request for a Salary Advance Loan through any of the following ways:

• Dial the USSD code *901*11#
• QuickBucks
  • Download the QuickBucks app, available on the Google Playstore or iOS App Store
  • Or click here to visit the QuickBucks website

Yes, your salary account needs to be in Access Bank and needs to be active for at least six (6) months before you can access a Salary Advance loan.

The interest rate for Salary Advance is 10% on reducing balance. Other charges include a 1% management fee, and 1% credit life insurance, which are taken upfront.

Six (6) months/180 days.

The maximum amount (i.e. eligible amount) you can get is 200% of your monthly salary, less any active loans at the Bank; subject to a maximum of ₦5,000,000. Your eligibility is displayed when you request for the loan.

To qualify for Salary Advance, you must earn a minimum ₦30,000.

Your eligibility will be affected by any of the following:

• If you have any outstanding loan(s) in Access Bank or other banks.
• If you apply using a phone number that is not linked to your BVN.
• If there is no evidence that you received salary payment in the previous month.
• If you have taken previous digital loan and exceeded your eligible amount.
• If you have an existing loan and the monthly repayment is higher than your eligible amount.

Where you have existing loans, the equated monthly instalment (EMI)/ monthly repayment(s) will be used in calculating your eligible amount. Your eligibility amount will therefore be 200% of your monthly salary, less any EMI. If the monthly repayment is higher than your eligible amount, you will not be able to take a Salary Advance loan.

Once your loan request is successful, your Access Bank account is credited instantly. However, in some rare cases, it may take up to 24 hours to process before disbursement into your account. In such an event, we will notify you of any delays.

As many times as you may like, if you have not exceeded your eligible amount.

Your Salary Advance loan will be due for repayment every month for a cycle of six (6) months tenor, from the date the loan was disbursed into your account (anniversary date), and the repayment amount will be automatically deducted from your account.

Customers are at liberty to pay off their loan at their convenience. Interested customers can self-liquidate their salary advance loan via USSD or the QuickBucks platform. Alternatively, customers can contact Access Bank on +2347003000000 or 0201-2712005; or send an e-mail to contactcenter@accessbankplc.com; or visit any Access Bank branch to liquidate their loans.

The loan amount will be deducted from any inflow into the customer’s account. Where the loan us past due, deduction will be made from any account linked to your BVN.

Customers will face a 1% penal charge per month for defaulting on the loan from 30 days past due.

Yes, there are. Please see the table below for other instant digital loan products available.

Loan Type	Available to	Loan Amount	Repayment Plan	Pricing
PayDay Loan (PDLP)	Salary account holders with Access Bank	Up to 75% of monthly salary, subject to a max. of ₦1,000,000	Against next salary payment or 30 days (whichever comes first)	Interest Rate: 12% Management Fee: 1% Credit life insurance 0.5%
	Other bank customers whose salaries are paid through Remita, eTranzact, Zinox Group/Konga Pay, and PrimusPlus	Up to 50% of monthly salary, subject to a max. of ₦500,000	Against next salary payment or 30 days (whichever comes first). Your repayment will be deducted from your next salary and paid into your Access Bank account.	Interest Rate: 13% Management Fee: 1% Credit Life Insurance: 0.5%
PayDay Extra (PDLE)	Salary account holders with Access Bank	Up to 100% of monthly salary, subject to a maximum of ₦2,000,000	90 days with repayment over three (3) monthly instalments	Interest Rate: 11% (on reducing balance) Management Fee: 1% Credit Life Insurance: 0.7%
	Other bank customers whose salaries are paid through Remita, eTranzact, Zinox Group/Konga Pay, and PrimusPlus	Up to 80% of monthly salary, subject to a maximum of ₦1,000,000	90 days with repayment over three (3) monthly instalments	Interest Rate 11% (on reducing balance) Management fee: 1% Credit Life Insurance: 0.7%
Small Ticket Personal Loan (STPL)	Salary account holders with Access Bank who earn a minimum of ₦30,000	Up to 400% of monthly salary, subject to a maximum of ₦10,000,000	365 days with repayment over twelve (12) monthly instalments	IInterest Rate: 9% (on reducing balance) Management Fee: 1% Credit Life Insurance: 1.2%
Device Finance (DFPS)	Salary account holders with Access Bank	Up to 33% of annual salary, but subject to a max. of ₦500,000 without equity contribution and ₦2,000,000 with equity contribution.	Up to 365 days with repayment over twelve (12) monthly instalments	Interest Rate: 30% p.a. Management Fee: 1% Credit Life Insurance: 1%
Lending Against Turnover (RLAT)	Individual account holders with Access Bank, with unverified salaries	Up to 30% of average monthly turnover, subject to a maximum of ₦1,000,000.	90 days with repayment over three (3) monthly instalments	Interest Rate: 11% - 15% Management Fee: 1% Credit Life Insurance: 0% - 1.5%
LATO Trader (TLAT)	Trader account holders with Access Bank	Up to 20% of average monthly turnover, subject to a maximum of ₦500,000.	90 days with repayment over three (3) monthly instalments	Interest Rate: 12% Management Fee: 1% Keyman Insurance: 0.7%