Bank Loans in Nigeria

Diamond/Access Bank History

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Access Bank plc commonly known as access bank, is a Nigerian multinational commercial bank, owned by access bank group. It is as well Licensed by the Central Bank of Nigeria (CBN), the Nigerian national banking regulator.
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Access Bank plc, commonly known as Access Bank, is a Nigerian multinational commercial bank, owned by Access Bank Group. It is licensed by the Central Bank of Nigeria, the national banking regulator.[1]

Originally a corporate bank, the organization acquired personal and business banking platforms from Nigeria’s International Commercial bank in 2012. Access Bank is presently one of the five largest banks in Nigeria in terms of assets, loans, deposits and branch network. The merger of Access Bank and Diamond Bank on 1 April 2019 has made Access Bank the largest bank in Africa. In conclusion of its merger with Diamond Bank, Access Bank Plc, unveiled its new logo, signalling the commencement of a new enlarged banking entity.

{According to Wikipedia}

Diamond/Access Bank Loan

Diamond bank which is now known as Access Bank or Diamond/access is one of Nigeria’s bank with international recognition. And just like any other top banks in Nigeria, Access Bank has a very swift and transparent loan system for all their customers.

As long as you are a customer or just any individual who have an active account with Access Bank plc, then you are entitled to right to loan.
Yes! You read it correctly.

Not just right to loan but as well right to loan without collateral (in some cases). This means you can apply for a loan grant without giving them any collateral.

Types of Loan offered by Access Bank in Nigeria

  • Creative sector loan
  • Lending against turnover
  • Personal loan
  • Salary Advance Loan
  • Small Ticket Personal Loan
  • W-power Loan
  • Advance for school fee
  • Device Finance
  • Maternal Health service support (MHSS) Loan
  • Payday Loan
  • Vehicle Finance Loan

Access Bank Loan Requirement

  • Valid Access Bank account number
  • BVN number
  • Valid Government issued ID card

Ways to Request for Access Bank Loan

Basically, there are only three ways to request for a loan from Access Bank from any part of the country which include;

  1. Via USSD code
  2. Via Access Bank mobile app
  3. Going to any Access/Diamond Bank branch near you

How to Request for a Access Bank Loan Using USSD Code

In order to obtain a loan from Access Bank using the USSD features, you can simply follow our guide below.

  • On your mobile device dial *901*11*1#
  • Here you select the type of loan you want to request (personal loan, payday loan, salary loan etc.). Selection is done by inputting the corresponding figure.
  • On the next page, you will see your eligible loan amount then you select 1 to accept loan offer
  • Now you select the loan amount you will like to request from Access Bank.
  • Now you select your repayment option
  • On the next page you will get to see loan details which includes (interest rates, management fee, and all other charges)
  • Now you accept loan charges and that is all.
  • You will get your requested loan send directly to your Access Bank account number.

How to Request for a Access Bank Loan Using Mobile App

To request a loan from Access Bank using the mobile app for IOS and Android, follow our guide below;

  • Open Google Play Store (for android) or App Store (for IOS)
  • Search for “Access Bank Mobile App”
  • Download the app, install and open
  • Now you logon to the app using your account number and mobile number
  • Click the top left corner menu and scroll down to “LOANS”
    On the next page, you will see your eligible loan amount then you select 1 to accept loan offer
  • Now you select the loan amount you will like to request from Access Bank.
  • Now you select your repayment option
  • On the next page you will get to see loan details which includes (interest rates, management fee, and all other charges)
  • Now you accept loan charges and that is all.
  • You will get your requested loan send directly to your Access Bank account number.

That’s simply how to request for a loan using the mobile app.

How to request for Loan by visiting Access Bank Branch

This is the best way we recommend most especially if you are just getting started with LOANS from any Nigerian bank.

To get a quick loan by visiting the bank, follow our below guide.

  • Visit any or closest Access Bank branch near you (Google Maps can help find the closest from your current location).
  • Go to the customer care representative and tell them you are her to request for a loan
  • They will direct you to the right office or give you a loan request form which you have to fill
  • Make sure to ask for details about all types of loan they offer before filling the form.
  • Don’t forget to read and as well ask for their loan terms of service.
  • After that, submit your form, go home and wait to receive your credit alert when the loan is approved.

How to Pay Back Your Access Bank Loan after Due Date

Repaying loans received from Access Bank a little or let’s say have nothing to do with you performing any action.

Everything is automated. That’s why we made mentioned that this bank offers a flexible and transparent loan system for customers.

The repayment option you select when filling your loan application form is what Diamond bank will use to automate the loan deduction from your parent account.

What Happens if I Don’t Pay Back in Time?

When the stipulated due date of the loan is near or as reached, the loan will be deducted from your account. But when your current account balance is not up to the amount of the loan you requested previously, the loan will be on repayment hold. Though that doesn’t mean you won’t be paying back the loan again.

Access Bank will deduct the loan from your account as soon as fund is made available in your account.

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