Home ยป How to Borrow Money from Access Bank 2023

How to borrow money from Access Bank can come in handy in situations where you may need to. These days there are several reasons that one may wish to borrow money and Access Bank offers this option, As you read through, we will show you how you can do this and do it at the best possible way.

How to Borrow Money from Access Bank

How to Borrow Money from Access Bank

Access Bank provides a diverse range of loan options, each with its specific application method.

Depending on your desired loan type, you can acquire it through different channels, such as using your mobile phone, visiting any Access Bank branch, or completing a form on the bank’s official website.

However, the *901*11*1# USSD code stands out as the fastest and simplest way to secure a loan from the bank.

Additionally, you can also access this service through Whatsapp Banking, the Access Mobile App, and the QuickBucks App.


What are the Types of Access Bank Loans Available?

Access Bank offers a variety of loan options tailored to different needs:

1. Small Ticket Personal Loan

This loan allows you to borrow up to 400% of your net monthly pay and should be repaid within 12 months.

2. W Power Loan

Designed for female-owned enterprises, this unique product bridges funding gaps and provides loans and credit.

3. Creative Sector Loans

Aimed at expanding capacity and creating employment opportunities in creative industries such as fashion, information technology, film production, and music.

4. Personal Loan

Empowering employees through a salary administration solution with a flexible repayment period of 36 months.

5. Salary Advance

Employees can borrow up to 100% of their net monthly salary without any paperwork or collateral. The loan can be easily applied for using the Fast Bucks App or USSD code and must be repaid within three months.

6. Advance for School Fees

Parents or guardians can borrow to pay for their child’s or ward’s school tuition or professional courses and certificates.


A quick loan option for non-salary account holders who have been with the bank for at least six months. This loan does not require documents or collateral and has a 30-day repayment period.

8. Device Finance

A lending program to assist you in financing the purchase of mobile devices.

9. Maternal Health Service Support (MHSS)

This loan covers the costs of childbirth and reproductive treatments.

10. Vehicle Finance

Access Bank offers vehicle finance loans to make it easier for you to purchase a new automobile. Salary earners, SME owners, and corporate entities are eligible, and the loan must be repaid within 48 months.

What are the Requirements to Borrow Loans from Access Bank Loan?

1. The creative industry loan necessitates a business plan or a statement outlining the required funding for your business.

2. To be eligible for the LATO loan, small ticket personal loan, or salary advance loan, you must have a phone number linked to your BVN (Bank Verification Number) and provide proof of receiving salary payment in the previous month.

3. For a personal loan, you will need to submit a completed application form, a completed employer’s confirmation form, a copy of your employment ID, BVN verification, credit checks, and a letter of lien.

4. To qualify for a W Power loan, the company must be 50% female-owned, operational for at least one year, and have a minimum headcount of two persons.

5. To apply for an advance for school fees, you must complete an application form, provide an accepted offer letter, a school fees bill/invoice in the student’s name, a valid ID card, and a recent utility bill from the last three months.

How to Pay Back Access Bank Loan

When you obtain a loan from Access Bank, they will provide you with instructions on repayment.

In most cases, you will make monthly payments approximately 30 days after receiving the loan. These payments will be automatically deducted from your account each month, eliminating the need for you to contact the bank.

This repayment method is not unique to Access Bank; it is also used by other banks, including Zenith Bank, and similar financial institutions.


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