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ACCESS BANK PLC

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17/01/2020

Lending Against Turnover (LATO)

LATO is an instant loan product for non-salary account holders who have an existing banking relationship with the Bank for over six months

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Access Bank PLC: Lending Against Turnover

Lending Against Turnover

Sometimes urgent financial needs may arise and you might be low on cash. This is where Lending Against Turnover (LATO) comes in. With LATO, you can get access to instant cash by dialling *901*11#
 
Lending Against Turnover (LATO) is an instant loan product for non-salary account holders who have an existing banking relationship with the Bank for over six months.
 

Features

  • 24/7 service which does not require visits to the bank and application is done conveniently via USSD code *901*11#
  • No documentation required
  • No collateral required
  • 30 days loan


Frequently Asked Questions (FAQs)

You can request for LATO by dialling *901*11# on your mobile device.
 
Monthly repayment on existing loans will be taken into consideration in calculating your eligible amount.
 
Loan is disbursed instantly upon successful application.
 
It is displayed when the loan request is initiated.
 
As many times as possible provided you are within your eligible limit.
Interest fee of 4%, Management fee of 1% and insurance of 0.15% (all taken upfront front).
No. However, you must be operating any of the listed account types above for a six months period to qualify.
Your eligibility will be affected by any of the following:
  • If you have unpaid loans in Access Bank or other Banks.
  • If your salary account is incorrect or you used a phone number not linked to your BVN
  • If your average minimum turnover is not up to N20,000 monthly
Your loan would be automatically debited from your account after 30 days.