How to Get the Access Bank Payday Loan

Access Bank is one of the leading figures in the Nigerian financial industry. It has been helping to facilitate transactions, provide financial solutions, and be at the service of customers in times of dire needs.

Once in a while, you will definitely run out of finance. Running into urgent financial needs could be overwhelming. Times like that could be trying for any individual going through such. I mean, what more could be demoralizing than not being able to meet up with financial emergencies? Sometimes, even family and friends cannot come to your aid at those times, for different reasons.

How to Get the Access Bank Payday Loan

That is where the Access Bank Payday Loan comes in for you.

You are probably just reading about the above for the first time. PayDay Loan is a digital loan product designed by Access Bank to cater to the urgent financial needs of its customers. However, you have to meet up with the Access Bank lending criteria, which they refer to as Risk Acceptance Criteria, to be eligible.

Basically, the Access Bank PayDay Loan is designed to help Access Bank customers (salary or non-salary earner, get access to a loan. This loan doesn’t come with any hassles, and it’s easily accessible even on your mobile phone.

Usually, the customer pays back at the end of the month, or 31 days after the day he requested the loan. The loan comes with a paltry interest rate of 3%, which is subject to prevailing market conditions. In other words, your interest rate might be more or less than 3%, depending on the current market conditions.

For salary account holders with Access Bank, you can access 75% of their monthly salary. To confirm that you are a salary earner, you would have to show evidence that you received your last salary.

For non-salary account holders, or users of other banks: If you use Remita or other banks to receive your monthly salary, you can access 50% of your monthly salary, provided it does not exceed the loan limit.

How to Access the Payday Loan

You can access the PayDay via various Access Banking channels such as:

  • Visiting any of the Access Bank branches and requesting the loan.
  • Internet Banking.
  • WhatsApp Banking.
  • Access Bank mobile app (select Loans & Investments).
  • QuickBucks app.
  • And lastly, the USSD shortcode.

The USSD code, however, is the most used and most convenient. Whether you have an internet-enabled mobile phone or not, the USSD code works perfectly. For this reason, we shall be focusing on the USSD channel.

To access the PayDay Loan via USSD:

  • Dial *901*11*1#.
  • Follow the instructions that pop on your screen thereafter, and you’d be on your way to securing a loan.

Features of the PayDay Loan

  • The Access Bank Loan is available 24/7 and does not require you to literally visit the bank. It can be accessed through the USSD code *901*11*1#.
  • No documents are required.
  • No collateral is required.
  • Up to 31 days tenor (31 days before loan repayment).

How to Check Your PayDay Loan Balance

Like every other credit alert, the procedure for checking your PayDay Loan balance does not change. Simply dial*901#. When the Menu pops up, select the first option, which is Check Balance. Afterward, you will receive an SMS from Access Bank, giving you details of your balance.


Access Bank understands how important it is to meet dire urgent financial needs, and quickly, that is why the prerequisites of this particular package are not stringent. Times of need are one of the most trying times for everyone, whether as a salary earner or otherwise. And it is understandable if you cannot meet those urgent needs when it mattered most, for reasons such as being left with so many days before month-end (payday). Anyways, you should not let that deter you from fulfilling these urgent needs, especially when you can get loans such as the Access Bank PayDay Loan. However, one thing you should ensure is that the money is ready as of when it is due. Another thing is to ensure the money is available in the account you used in securing the loan so Access Bank does not deduct the repayment from an account that you do not want it to be deducted from.

So next time you have urgent financial needs, Access Bank PayDay Loan is there for the rescue. Visit any Access Bank branch for more information about the Access Bank PayDay Loan.


How Do I Repay the PayDay Loan?

You do not have to take any action to repay your PayDay Loan. As soon as your loan is due for repayment, Access Bank automatically retrieves its loan from your account.

What If I Do Not Have Money in the Account?

If you do not have money in your Access Bank account, and your loan is due for repayment, Access Bank deducts its loan repayment from any other account linked to your BVN. Just make sure you have the money on your Access salary account when you are due for repayment to avoid being debited from the wrong account.

Does My Salary Account Have to be in Access Bank Before I Can Access the Loan?

No, it does not. If your salary is processed via Remita, you can also apply.

Please note that if you do not have a salary account with Access Bank, a new account will be opened for you when you request a PayDay Loan.

Is There Any Penalty for Not Paying the Loan on Time?

Customers would incur a penalty of 1% charge per month for defaulting on the loan from the 31st day after receiving.

How Long Does It Take to Receive the Loan?

As soon as your request for the loan is successfully processed, you will get a credit alert immediately. Although, it may take up to 24 hours to be processed. And, in case there would be further delay, Access Bank will notify you.