Access Bank Payday Loan – Eligibility , Code|Terms and conditions

Access Bank Payday Loan – Eligibility , Code|Terms and conditions |All You Need to Know

Access bank happens to be one of the most lending Financial institutions in Nigeria aimed at assisting with financial services to the public, promoting easy transaction creating and helping to regulate wealth.

Sometimes extra expenses or emergencies pop up, not to fear, as a salary earner or income earner waiting to the end of the month for cash, you can rely on a loan from Access bank.

In this article, we will be discussing how to obtain a loan from Access bank and how to apply for it.

Access Bank payday loan – what is it?

The Access Payday loan is a digital initiative by Access bank to promote instant loans to needed customers after filling the required form and has received approval.Pay day loan from Access Bank

This approval depends on the requirement by access bank lending criteria on this digital credit loan which they refer to as Risk Acceptance Criteria (RAC).

For easy understanding, the digital credit loan is primarily aimed at assisting with financial services to both salary earners and non-salary earners.

Access Bank payday loan eligibility

The following will make you eligible to be granted this Access bank loan:

  • No outstanding loan in Access bank or any other bank
  • A phone number that is connected to your BVN
  • Proof that you received salary payment in the previous month or bank statement

The maximum Access bank payday loan you can get

As a salary earner, you are granted loans up to 75% of your monthly income. The eligibility depends on the following factors:

  1. Salary account holders with Access Bank: If you’re a salary account user with Access Bank, you will be qualified for a payday loan amount of 75% of your monthly salary.
  2. Other bank customers: If you earn your salary through another bank, go through IPPIS or Remita, you will be qualified for an Access bank payday loan amount of 50% of your monthly salary not exceeding NGN 500,000.

Applying for the Access bank payday loan

You can apply for the loan physically since it’s a digital product. You can do this through the Access bank code which is USSD – 90111*1# or via Internet Banking,

WhatsApp Banking, Access Mobile App and QuickBucks App. The loan can also be applied for through the Access Mobile App and QuickBucks App.

The application procedure usually takes a few minutes to apply but takes a maximum of 24-hours for you to receive your loan once it’s approved.

How to repay Access bank payday loan

The repayment of the loan will be done through your account after receiving your next salary or within 30 days from the day the loan was granted.

No processor code is required to pay back the loan. The loan is automatically removed from your salary bank account used in registration.

Access Bank payday loan interest rate

The interest rate of this Access bank Payday loan is 3% on whatever amount you request for and it is controlled by current market conditions. This indicates that your interest rate can be higher or lower than 3% depending on the market system. You are advised to make all inquiries pertaining to the loan before applying.

Access Bank Student Loan

How to apply for student loan

  1. Visit the website and download the form, fill in the accurate information
  2. Send all filled form and document to
  3. Your loan will be processed instantly
  4. If your loan is approved, the loan will be sent to your school’s account
  5. Summit transaction receipt to your school

What is the code to borrow money from Access Bank?

To borrow money from Access Bank, quickly dial 90111*1# on your mobile phone and follow the instructions or you can also access the loan via Internet Banking, WhatsApp Banking, Access Mobile App, and QuickBucks App.

Access Bank business loan

You can get a business loan with an access bank new program known as the W initiative. This initiative is developed to make access to loan easy for women.

Although, women are still reluctant in accessing the loan with the fear of being unable to pay back, unable to come up with a standard business among others. However, this and other challenges are becoming possible.

This new initiative allows women owned businesses to get loans 30 days after opening an account. Other benefits that come with this package include business advisory services, a flexible repayment period and a low-interest rate as well as flexible security options.

While the Bank is placing procedures to help battle the challenges of taking a loan, here are few ways female entrepreneurs can view their businesses to be granted loans.

  • You are required to have a workable business plan. It is necessary to understand how your business functions and all required documentation. Access bank W initiative session- in-branch and W Business Hubs, will assist you in meeting with industry experts on how to start with an enthralling business plan.
  • Get your business registered with all the necessary entities. All necessary documentation should be done in order for your business to be considered legal and authorized to do business with financial institutions. With access bank W Business Support Hubs to assist you and make the procedure smooth.
  • After documentation, you can open a corporate account which will serve as a form of financial identification and representation. Also providing a place you can be monitored. Having a business account can help you with advantages to assist in your business.
  • Organize your financial records that may be presented for documentation. It is necessary to maintain financial records for your business. Access bank W initiative will assist with various training such as Womenpreneur Business Series, which help women in drafting out financial records and how it can be organized. Also, our SME Toolkit provides the template and aids employed in simple record keeping and monitoring.

Be clear on what you need for your business. You shouldn’t take more than you can pay for or less than you require.


Don’t get troubled when you find yourself in an unprecedented financial situation. Access bank Payday is available for all salary earners or steady income earners making it an easy and soft choice.

Ikechukwu Youwin

this articles was written by ikechukwu for, Ikechukwu is a University graduate, he holds a degree in Economics from the University of Nigerian Nsuka (UNN).Read more

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