How to apply for access bank student loan? As a parent or guardian, ensuring your children get quality education is a top priority. However, with the challenges in our country, financing their schooling can be difficult. But fret not! In this article, I’ll guide you through the process of obtaining an Access Bank Student Loan.
The Access Bank Student Loan offers collateral-free finance products for Private Crèche, Nursery, Primary, Secondary and Tertiary Schools. This means that students in tertiary institutions can also apply for access to bank loans.
You’ll discover the necessary documents for eligibility and how to secure the loan without needing collateral. So, if you’re eager to explore avenues to support your child’s education, keep reading until the end for all the essential information.
READ MORE: Schools In the UK That Accept HND And Third-Class
Who is eligible for the loan
Table of Contents
Access bank student loans are majorly for parents or guardians. However, if you are an undergraduate or postgraduate student, you can also apply for a loan.
How does the access bank student loan works?
You will need to submit the invoice for the school fees with the application form. After the assessment, Access Bank will pay the money to the school on your behalf and send you a receipt proof.
Types Of Loans Offered By Access Bank
Access Bank provides different types of loans, including:
- Salary Advance
- Payday Loan
- Access Bank Personal Loan
- Quickbooks
- Home Loan
- Creative Sector Loan
- W power Loan
- Cash Backed Loan
- MHSS
- Vehicle Finance
- Access more mileage
- Small Ticket Personal Loans
READ MORE: Global Student Loan Corporation
Requirements to Apply for Access Bank Student Loans
If you are a parent working at a public or private organization and receive salaries in an Access bank account, you need the following to apply:
- You need the completed application form.
- You need to submit the kids’ accepted offer letter.
- Provide the school’s fees bill/invoice in the name of the student. It should contain the total fee amount.
- A valid ID card and recent utility bill for the previous three months.
On the other hand, the Non-Salaried Customers whose accounts are domiciled with Access Bank must provide:
- The complete application form.
- A valid ID card.
- A year’s bank statement of corporate.
- CAC documents.
- Current utility bill for the previous three months.
- Evidence of the acceptance letter.
- School fees or invoices in the name of the student.
- Proof of lien on treasury bill, maybe the fixed deposit on any money market investments.
- The receipt of your acceptable guarantee ( individual or corporate).
- Provision of the Net worth of the guarantor.
Also, various documents can be requested from the bank like the Executed NIBBS mandate form, the payslips and six months for the Acceptable party guarantee for personal or corporate.
How To Apply For Advanced School Fees In Access Bank
If you want to apply for the term loan facility through the following steps:
- Download the loan forms and fill them with the correct information from the bank website.
- Fill out the form and create a signature electronically. You can download any scanner app on your phone to establish your image.
- When you have completed the form and the required documents, send them to schoofeesadvance@accessbankplc.com
How To Get A Loan Without Collateral From Access Bank
You can easily get a loan from Access Bank through the following media:
- QuickBooks app.
- Access the bank mobile app.
- Access bank Whatsapp banking.
- Access bank internet banking.
- Payday loans USSD code.
How To Apply For a Loan Using USSD
Here’s how to apply the USSD code for the Access Bank student loan:
- Dial *901*11*1#
- Follow the instructions on the d and select a payday loan.
- Then choose the amount you want.
- Then you will be credited to your account once processed.
How To Apply For A Loan Through Bank App Of Access Bank
You can easily apply for the Access Bank loan through the Bank app. You can make use of the Access Mobile App and the QuickBucks App to apply for the loan.
For you to apply when using this app, log in to your account, click on Loan, select Payday Loan, and immediately, you will be credited into your account.
How To Apply For Loan Via Online Banking
Using the online banking method, what you need to do is apply for the loan of your choice by visiting the official website of Access Bank or reaching agents via WhatsApp.
- Step 1 – Visit their website https://ibank.accessbankplc.com/RetaklBank/#/
- Step 2 – Log in with your username and password.
- Step 3 – Click on loans.
- Step 4 – Select the check eligibility to see the amount you are eligible for.
- Step 5 – State the amount you want.
- Step 6 – Accept the terms and conditions.
- Step 7 – You will get the disbursement into your access bank account immediately.
How To Get A Loan Without Collateral In Access Bank
For you to get a loan from Access Bank without collateral, use the USSD code method that has been explained earlier.
Requirement For Access Loan Bank
- Have an active Access Bank salary account.
- Provide the phone number that is connected to your BVN that you make use of.
- Deposit funds into your salary account regularly. This means that a brand-new account will not be qualified to get this loan.
- Have a solid credit history. This means you must have a solid history of payback
Access Bank Student Loan
If you are a student, you can also get a loan for your educational needs in Access Bank, like school fees, accommodation, projects etc.
However, this is only made available for students who are Access Bank customers and meet the requirements.
How To Pay Back Your Loan In Access Bank
There are no formalities for the repayment as the loan amount will be deducted from the salary bank account.
READ MORE: How To Get An Internship At CERN
Conclusion
If you want to apply for an Access Bank student loan, please make sure you have a bank account and meet the requirements.
