This thread is about GTbank Salary Advance. What it is, how to get out and should you get it?
In a country like Nigeria where poverty is very rampant, it means that people need money and the first place they go to is the bank. And GT bank has a salary advance land and today we will be discussing there plans they have.
What is a salary advance loan? A salary advance loan is a loan that that a worker can get that is backed by his or her salary. Nigeria banks offer this type of loans. As long as you have a good paying job with a verifiable salary, you can get and advanced salary loan in an month that does not exceed what you earn monthly or yearly.
Example, lets say you have a federal civil servant job in Nigeria and you salary is N50,000 montly. You can ask GTbank or any other bank in Nigeria to give you a long of N20,000 Naira, but your collateral is your upcoming salary. This means that GT bank now has the right to your salary from your employer. They will take their 20K that they loaned you, charge interest and release the rest of your salary to you.
They will do this until they have recoup all of their money plus interest.
Salary Advance
Get up to 50% of your net monthly salary upfront. Available to staff of private companies and government agencies with active* salary accounts domiciled in GTBank.
What’s in it for you?
In a country like Nigeria where poverty is very rampant, it means that people need money and the first place they go to is the bank. And GT bank has a salary advance land and today we will be discussing there plans they have.
What is a salary advance loan? A salary advance loan is a loan that that a worker can get that is backed by his or her salary. Nigeria banks offer this type of loans. As long as you have a good paying job with a verifiable salary, you can get and advanced salary loan in an month that does not exceed what you earn monthly or yearly.
Example, lets say you have a federal civil servant job in Nigeria and you salary is N50,000 montly. You can ask GTbank or any other bank in Nigeria to give you a long of N20,000 Naira, but your collateral is your upcoming salary. This means that GT bank now has the right to your salary from your employer. They will take their 20K that they loaned you, charge interest and release the rest of your salary to you.
They will do this until they have recoup all of their money plus interest.
What you need to know about GT bank salary advance loan .
Salary Advance
Get up to 50% of your net monthly salary upfront. Available to staff of private companies and government agencies with active* salary accounts domiciled in GTBank.
What’s in it for you?
- Up to of 50% of net monthly salary in advance.
- Tenor of 30 days. Renewable monthly.
- No collateral required.
- Minimum salary of N 25,000 for public sector and N 50,000 for private sector employees.
- Salary advance will be made available within 24 hours.
- Simply login to Internet Banking
- Dial *737*8*2# to apply
- Visit any GTBank branch or ATM near you