Access Bank Payday Loan | Quick Buck app

What is access bank payday loan?

The very first question that you will ask.

Right here, i’ve made it simpler just to make you understand what the payday loan is all about, and how it works.

This is one of the fastest way of collecting a loan from access bank, no collateral required at all.

To make it lot easier for the bank customers, you can perform the transaction from your mobile phone without needing to use the internet.

Access bank payday loan.

All you’ve to do is to dial the *901*11# and you’re good to go.

What is Access Bank Payday Loan

According to the bank, Payday Loan is an instant loan product for customers (both salary and non-salary earners).

With access bank payday Loan, you can borrow money at low interest rate with no documentation or collateral needed.

Seeing this doesn’t entails that you can apply for it if you don’t have an account with the access bank,

No Way.

Even if you have an account with the bank, it isn’t just for all to apply as there are some restrictions imposed on the access bank payday loan.

The question is who are eligible for this access bank payday loan?

Those that receives their monthly salary through Access bank plc, and and customers actively operating a Current Account, Diamondxtra Account, High Interest Deposit Account (HIDA), Current Private Banking Account with a minimum inflow of N20,000 in the past 6 months.

However, your salary account does not need to be in Access Bank before you can get PayDay loan.

Access Bank account would be opened for you as part of the loan request to disburse the loan.

Below is what the bank had to say about being eligible for their access bank payday loan;

  • Salary earners whose salary account is domiciled in Access Bank
  • Salary earners whose salary account is processed by any of our Corporate partners
  • Customers actively operating a Current Account, Diamondxtra Account, High Interest Deposit Account (HIDA), Current Private Banking Account with a minimum inflow of N20,000 in the past 6 months.

As diamond bank is now access bank, and you’ve been receiving monthly salary through your diamond bank account, you’re also eligible for this offer.

Access bank payday loan can be obtained to fulfil any financial and personal requirement to enhance their quality of life.

The product is unique as recipients only have to be diligent salary earners who will now be able to obtain instant loans without stress or involving a guarantor.

According to the director of the bank, Mr Victor Etuokwu, he quoted that;

Access Bank’s PayDay Loan product offers customers and non-customers easy access to a unique platform that gives them access to loans against their next salary payment, and enables customers to obtain a loan instantly by simply dialling a USSD Code *901*11# on their mobile phones.”

Features

  • Th access payday loan is 24/7 available, which does not require you to visit the bank and application is done conveniently via *901*11#, *426#, QuickBucks App, the Internet Banking, and the Mobile App.
  • No documentation required.
  • No collateral required.
  • Up to thirty-one (31) days tenor.

The above features really makes the payday loan to be lot interesting, especially no collateral, no guarantor.

The best part is that if you pass the requirements, the money will be transferred to you account immediately without delay.

How to apply for access bank payday loan

Access Payday Loan

As you must have an account with the bank, and met with the requirement or eligible for the service, *901*11# or *426*11# on your mobile device.

The first code is for access bank while the second code is those that once have an account with diamond bank, though the two works together irrespective of having a diamond bank account before.

Apart from the access bank *901# ussd code, you can also access PayDay Loan on internet banking and whatsApp banking or by downloading access mobile app and quickBucks app from your mobile device store.

Before requesting for a loan through this platform, you will first know the exact amount that the bank can give to you.

One thing right here is that you won’t know until you apply ot request for it, then the amount will be displayed on your screen.

You don’t need to think that you can request for a million naira through the payday loan, no way.

Have tried that and it didn’t work at all, the bank will only give you the amount they wish to.

However, you can apply or request for access bank payday loan as many times as you may require as long as you have not exceeded your eligible limit.

Each time you request, the eligible amount is displayed, and you can apply for not more than the eligible amount.

In as much the bank said no collateral, no guarantor, it doesn’t mean that there’s no fee attached to it.

It attracts upfront fees of 1% flat 4% flat interest and insurance of 0.15% of loan amount is taken upon loan disbursement (5.15% total all payable upfront).

Collecting a loan from access bank with no collateral, no guarantor doesn’t mean there’s no tenor for it, you’ll be given a maximum of thirty one days (31) to pay up.

The thirty one days is almost the period that worker’s are being paid in this country.

You may apply or request for the payday loan and have your request turn down by the bank, the following may be the reasons for the rejection;

  • Your eligibility will be affected by any of the following:
  • If you have unpaid loan in Access Bank or Other Banks.
  • If your salary account number is incorrect or you used a phone number that is not linked to your BVN number.
  • There is no evidence that you received salary into your account in the last 45 days.
  • You have collected existing PayDay loans up to your eligible amount already
  • No inflow of at least N20,000 into your account in the last 30 days

How to repay access bank payday loan

Before applying for a loan, what comes to your mind is about the repayment.

If you are looking for how to repay access bank payday loan, there are two ways you do it, one is by automatically and the other is through manually.

Access bank payday can be repaid automatically which is after 30 days or when your salary is paid.

In the case that your salary wasn’t paid on the 30th of the month, immediately you’re paid the bank will automatically collect the money.

The other way to repay access bank payday loan is through manually by funding your account and by contacting the to liquidate your loan.

You can always confirm your outstanding balance on the payday loan via access bank Quick Buck platform, which you can download via the google play store or Apple play store.

To use the access bank Quick Buck app;

Download Quickbucks from the links above, depending on the smartphone OS.

Enter your registered email address and BVN linked phone number.

An OTP will be sent to you via SMS for verification.

If SMS is unsuccessful, you can request OTP to be delivered via a voice call.

If you don’t fancy that, you can request a push message from the App- the app sends an encrypted message to a short code.

The message is decrypted and validation is done.

This functionality is only applicable to customers using their BVN linked phone number for the transaction.

Upon OTP validation, you have to create an app password (to be used to log into the app) and PIN (to be used in transacting).

Next ie to type in your personal details. This includes:

  1. Location
  2. First Name, Last Name, Other Name
  3. Date of Birth
  4. Occupation – Salaried or Self Employed
  5. Place of work
  6. Salary Bank Name
  7. Bank Account Number
  8. Closest Branch
  9. BVN
  10. Monthly Salary Amount

Finally you have to agree/consent to the Terms and Conditions given to you, and that’s it you have successfully registered your account on the Quick Buck app.

Don’t miss: Access bank transfer code to another bank

This is where i will round it up on access bank payday loan, if you have anything to share or contribute, you can use the comment box for it.

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