Access Bank introduces short code for payday loan product

To provide quicker and instant access to loans for customers, Access Bank has launched a special USSD code *901*11#, a tool for its recently launched Payday Loan product.

Unveiled in partnership with Remita, Payday Loan requires no collateral or guarantor, enabling customers to obtain loans instantly without visiting the bank - thereby enabling them to meet their urgent financial needs before receiving their salaries.

In a statement, the Executive Director, Personal Banking, Access Bank, Victor Etuokwu said, “Acquiring loans in Nigeria has always been known to be limiting - either due to access, collateral issues, including the duration of the approval process.

“With our obligations to our customers especially during difficult economic periods, we are emphasizing Access Bank’s position in offering lifestyle products and services that meet their financial needs.”

Access Bank’s Payday Loan product offers customers and non-customers easy access to a unique platform that gives them access to loans against their next salary payment, and enables customers to obtain a loan instantly by simply dialing a USSD Code *901*11# on their mobile phones.

The Payday loan can also be obtained to fulfill any financial and personal requirement to enhance the customers’ quality of life.

The product is unique as recipients only have to be diligent salary earners who will now be able to obtain instant loans without stress or involving a guarantor.