Cash-Backed Loan
Access instant cash-backed loans by dialling *901*11*2#
Open an account nowUse our Cash Backed Loan to get some quick cash. This is open to customers who have investments with us that haven't matured. Just dial *901*11*2#
Frequently Asked Questions
It is an instant digital loan product which is targeted at Access Bank customers with qualifying Fixed Deposit investments in the Bank and who meet the Bank’s Risk Acceptance Criteria (RAC).
You can request for a loan by d*901*11*2#.
Yes, your account needs to be in Access Bank, and you need to have a qualifying investment with the Bank to be eligible.
The loan tenor is flexible with a maximum tenor of 12-months.
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1 – 2 months | 3 – 12 months |
| Management Fee |
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| Credit Life Insurance |
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| Interest | 2% (paid upfront) All fees will be taken at disbursal |
2% paid upfront in the first month of the first two months (no interest is charged on the second month); and 1% payable monthly from the third month on the outstanding loan balance. |
| Penal Charge | 1% per month, upon default | 1% per month, upon default |
The maximum amount (i.e. eligible amount) you can get is 85% of amount held as investment with the Bank. However, the maximum loan amount under this scheme is ₦10,000,000 (ten million naira only).
Your eligibility will be affected by any of the following:
Yes, you can still get a Cash-Backed Loan subject to a maximum of 85% of the investment amount.
Once your loan request is successful, your Access Bank account is credited instantly.
As many times as you may like, as long as you have not exceeded your eligible amount. It is however subject to a maximum of three disbursals per day.
Your Cash-Backed Loan will be due for repayment every 30 days from the date the loan was disbursed into your account until expiration of your selected loan tenor.
Please note that the loan will become automatically due upon pre-liquidation or maturity of your investment. The loan repayment amount will be automatically deducted from your account.
Customers are at liberty to pay off their loan at their convenience. Interested customers should send an e-mail to contactcenter@accessbankplc.com to liquidate their loans.
The cash back loan amount will be recovered from any inflow into the customer’s account after the repayment due date and/or from the investment used as collateral.
Yes, there are. Please see the table below for other instant digital loan products available.
| Loan Type | Available to | Loan Amount | Repayment Plan | Pricing |
| PayDay loan | Salary account holders with Access Bank |
Up to 75% of monthly salary | Against next Salary payment or 30 days (whichever comes first) | Interest 4% Flat Management fee 1% Credit Life Insurance 0.15% Penal Charge 1% per month upon default Please note that all these will be take upfront at the point of disbursal |
| Other bank customers whose salaries are processed via IPPIS or Remita | Up to 55% of monthly salary, but subject to a max. of N500,000 | Against next Salary payment or 30 days (whichever comes first). Deduction will be taken at source from your other bank account |
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| Lending Against Turnover (LATO) | Customers who maintain an average balance of ₦20,000 over six months | Up to 20% of Average Turnover, subject to a max. of ₦50,000 | 90 days with repayment over Three (3) monthly instalments | Interest 4% Flat Management fee 1% Credit Life Insurance 0.15% Penal Charge 1% per month upon default Please note that all these will be take upfront at the point of disbursal |
| Device Finance | Salary account holders with Access Bank & other bank customers |
Up to 33% of annual salary, but subject to a max. of N500,000 | 12-months with monthly deductions | Mark-up fees vary: Devices are purchased at discounted rates and sold at market value Credit Life Insurance 0.5% Penal Charge 1% per month upon default Please note that all these will be take upfront at the point of disbursal |
| Salary Advance (SADV) |
Salary account holders with Access Bank who earn a minimum of N100,000 |
Up to 100% of monthly salary | 90 days with repayment over Three (3) monthly instalments | Interest 4% on reducing balance Management fee 1% Credit Life Insurance 0.2% Penal Charge 1% per month upon default Please note that all these will be take upfront at the point of disbursal |
| Small Ticket Personal Loan (STPL) | Salary account holders with Access Bank who earn a minimum of N150,000 |
Up to 200% of monthly salary | 180 days with repayment over Six (6) monthly instalments | Interest 4% on reducing balance Management fee 1% Credit Life Insurance 0.33% Penal Charge 1% per month upon default Please note that all these will be take upfront at the point of disbursal |
No; only Fixed deposit investments in the bank qualify you for a Cash-Backed Loan.
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