Access Bank PayDay Loan
Borrow up to ₦2,000,000 at 10%-13% interest, instantly, with flexible access for salary earners. Easy digital application, 30-day repayment.
Access Bank’s PayDay Loan is a quick digital loan solution designed exclusively for salary earners in Nigeria. Borrowers can access amounts up to ₦2,000,000, with a tenor of 30 days or until the next salary payment, whichever comes first. With competitive interest rates ranging from 10% to 13% for non-bank customers and quick approvals, this offer stands out for convenience and speed.
Additional costs include a management fee of 1% and a credit life insurance fee of 0.5%, both deducted upfront. Applying does not require you to already have an Access Bank salary account—if successful, a new one is opened for you automatically.
How to Apply for Access Bank PayDay Loan
- Dial *901*11# on your mobile phone
- Use the QuickBucks app (download from your app store)
- Go through the Access Mobile App (select Loans & Investments)
- Use Access Bank’s Internet or WhatsApp Banking platforms
What Makes Access Bank PayDay Loan Attractive?
This product offers instant credit, often disbursed within minutes. Applicants need minimal documentation and can access funds whether or not their existing salary account is with Access Bank. Flexibility is further enhanced by the straightforward application process via multiple channels, including USSD codes and mobile apps.
Another attractive feature is the eligibility for non-Access Bank customers who have their salaries processed through Remita. This broadens access and increases convenience for more Nigerian salary earners.
Where PayDay Loan Could Be Improved
The short repayment term of just 30 days may not suit everyone, especially those needing longer to manage cash flow. In addition, interest rates and fees, while competitive for instant digital loans, are still significant and add to the overall cost if repayment is delayed.
Lastly, applicants with existing loans or recent missed repayments elsewhere may find their eligibility limited. This makes it important for users to evaluate their current obligations before applying.
Our Verdict
If you’re a salary earner needing fast, hassle-free access to extra cash before pay day, Access Bank’s PayDay Loan delivers on speed and simplicity. While repayment terms are short, the flexibility to apply digitally and know your status instantly is a clear plus. Just review your eligibility and be sure to repay quickly to get the full benefit.