GTBank Loan for Non-Salary Earners

When it comes to achieving financial goals, accessing loans can be a crucial factor. Guaranty Trust Bank (GTBank) understands this and offers a range of loan options for individuals who do not receive a regular salary. Whether you are a freelancer, self-employed professional, or business owner, GTBank provides financial solutions tailored to your needs.

In this article, we will explore GTBank loans for non-salary earners and how they can assist you in achieving your aspirations.

Who Is A Non-Salary Earner

A non-salary earner refers to an individual who does not receive a regular salary from an employer. Unlike traditional employees who have a fixed monthly income, non-salary earners earn their income through various means, such as freelancing, self-employment, owning a business, or relying on irregular sources of income.

These individuals typically have fluctuating income streams that may not follow a consistent schedule or amount. Non-salary earners often face unique financial challenges when it comes to accessing loans and other financial services, as their income structure may not fit the traditional criteria used by banks and financial institutions.

However, many banks, including GTBank, recognize the importance of providing financial solutions tailored to the needs of non-salary earners, allowing them to access loans and other financial products to support their personal and business aspirations.

Types Of GTBank Loan

GTBank offers a range of loan products designed to meet the diverse needs of individuals and businesses. These loan products provide financial support and flexibility to help customers achieve their goals. Here are some of the loan products offered by GTBank:

1. Personal Loans

GTBank’s personal loan products are designed to provide individuals with quick access to funds for various purposes. Whether you need to cover medical expenses, fund a vacation, pay for education, or consolidate debt, personal loans from GTBank can provide the necessary financial assistance.

2. Business Loans

GTBank understands the importance of financing for businesses to thrive and expand. They offer business loans to entrepreneurs, small and medium-sized enterprises (SMEs), and large corporations. These loans can be used for working capital, purchasing equipment, expanding operations, or investing in new projects.

3. Mortgage Loans

GTBank provides mortgage loans to help individuals and families realize their dreams of owning a home. These loans offer competitive interest rates and flexible repayment terms, making it easier for customers to purchase residential properties.

4. Asset Finance

GTBank’s asset finance loans cater to businesses and individuals who require funding for acquiring assets such as vehicles, equipment, machinery, or technology. These loans enable customers to acquire the necessary assets to enhance their operations or personal lives.

5. Overdraft Facilities

GTBank offers overdraft facilities that provide customers with a flexible line of credit. This allows individuals and businesses to access funds beyond their account balance, helping them manage unexpected expenses or bridge temporary financial gaps.

6. Salary Advance

GTBank’s salary advance loan allows employees to access a portion of their salary in advance to meet urgent financial needs. This short-term loan option provides quick access to funds and is repaid when the salary is credited to the customer’s account.

These are just a few examples of the loan products offered by GTBank. Each loan product comes with its own terms, conditions, and eligibility criteria. GTBank aims to provide competitive interest rates, flexible repayment options, and a streamlined application process to ensure customers can access the funds they need efficiently and conveniently.

Loan Options for Non-Salary Earners

GTBank understands that non-salary earners have unique financial needs and offers specific loan options tailored to their circumstances. These loan options provide non-salary earners with the opportunity to access funds and achieve their personal and business objectives. Here are some of the loan options available for non-salary earners from GTBank:

1. Business Loans

GTBank offers business loans designed specifically for non-salary earners who own businesses or are self-employed. These loans can be utilized for various business purposes, such as working capital, expansion, purchasing equipment, or investing in new ventures. GTBank understands the importance of supporting entrepreneurs and provides financial solutions to help them grow and succeed.

2. Personal Loans

Non-salary earners can benefit from personal loans offered by GTBank. Whether you need funds for education, medical expenses, home improvements, or debt consolidation, personal loans provide a flexible option to meet your individual financial requirements. These loans can be customized to suit your needs and repaid over a specific period.

3. GTBank School Fees Advance

GT School Fees Advance to help parents and guardians cover the educational expenses of their children. GT School Fees Advance provides a convenient and flexible financing solution for school fees, ensuring that education remains accessible and affordable. Parents can get up to N5 Million for School Fees.

4. GTBank Quick Credit

GT Quick Credit provide individuals with quick access to funds for their immediate financial needs. GT Quick Credit is designed to offer a seamless borrowing experience, ensuring that customers can obtain the required funds promptly. Customers can borrow between N10,000 to N5 million and pay back within a 12 months period.

5. Asset Acquisition Loans

GTBank provides loans for non-salary earners to acquire assets necessary for their businesses. Whether you require a vehicle for transportation purposes or equipment to enhance your operations, asset acquisition loans can help you finance these essential purchases. These loans offer competitive interest rates and convenient repayment terms.

6. Overdraft Facilities

GTBank’s overdraft facilities offer non-salary earners a flexible credit option. This facility allows you to access funds beyond your account balance, providing a financial safety net for emergencies or unforeseen expenses. With an overdraft facility, you have the convenience of accessing funds whenever needed, ensuring you have the financial flexibility to manage your cash flow effectively.

Eligibility Criteria For GTBank Non-Salary Earners Loan

To be eligible for GTBank loans as a non-salary earner, certain criteria need to be met. While the specifics may vary depending on the loan type, common requirements include:

  • Age: Non-salary earners who require GTBank loan must be 18years and above.
  • Proof of income: Non-salary earners must provide documentation demonstrating their ability to repay the loan.
  • Business registration: For entrepreneurs, registering their business is often necessary to qualify for a loan.
  • Bank account: Having a GTBank account is typically required to apply for a loan.

By fulfilling these eligibility criteria, non-salary earners can unlock the benefits of GTBank loans and access the funds they need.

Documentation Needed For GTBank Non-Salary Earners Loan

To support your loan application as a non-salary earner, you will typically be required to provide the following documents:

  1. Valid identification: A government-issued ID card, passport, or driver’s license.
  2. Proof of address: Utility bills or a recent bank statement that verifies your residential address.
  3. Bank statements: Provide your bank statements for the past six months to demonstrate your financial history and capacity to repay the loan.
  4. Business registration documents: If you own a business, you may need to submit relevant documents such as your Certificate of Incorporation, Tax Identification Number (TIN), and business permits/licenses.
  5. Income documentation: This can include audited financial statements, tax returns, or invoices and receipts if you are a freelancer or self-employed professional.

Ensure that you have all the required documents ready to expedite the loan application process.

How To Apply For GTBank Non-Salary Earners Loan

There are several ways you can apply for GTBank Non-Salary Earners Loan. One can decide to visit the bank to apply for the loan or apply through the GTBank app. You can also use the GTBank USSD Code to apply for loan. Below is the different method of apply for GTBank Non-Salary Earners Loan:

Application Through GTBank

GTBank customers can visit and of the bank branch to apply for their loan. Once they get to the bank they should speak to a customer care representative who will give them a loan form to fill. After they have filled the form they should attach the required documents for loan and submit.

Once they have completed all the requirement they will have to wait for the loan to be approved. If it is approved, the money will be deposited in their account.

Application Through GTBank Website Or Mobile App

To apply for GTBank loan using the mobile app or website, you should follow this process:

  1. Visit the GTBank website or mobile app and sign in.
  2. Click on “Apply for Loans” option from the menu
  3. Select the loan type that suits your requirements.
  4. Fill in the amount you want to borrow.
  5. Select your preferred tenor.
  6. Fill out the application form, providing accurate and up-to-date information.
  7. Submit the completed application and wait for approval.
Application Through GTBank USSD Code

You can also easily apply for GTBank Non-Salary Earners loan with the use of GTBank USSD Code. To do this dial the code *737*8*2# on the mobile number linked to yout GTBank account and follow the prompt. You will be required to enter your details as well as the loan tenor. Once you have finished filling in the required information, your loan will be reviewed.

GTBank Non-Salary Earners Loan Repayment Terms

GTBank offers flexible repayment terms for non-salary earner loans. The specific repayment options and duration will depend on the type of loan you choose. You may have the option to repay the loan in fixed monthly installments over a specific period or opt for customized repayment schedules to align with your cash flow.

It’s essential to carefully review the repayment terms and choose an option that suits your financial capabilities and preferences. Prompt and regular repayments will not only help you fulfill your loan obligations but also contribute to building a positive credit history.

Interest Rates for GTBank Non-Salary Earners Loan

Interest rates and charges associated with GTBank loans for non-salary earners vary depending on the loan type and duration. For School Fees Advance loan GTBank charges an interest rate of 1% per month.

If you choose the Quick Credit loan you will be required to pay an interest of 1.33% per month. Before committing to a loan, inquire about the applicable interest rates, processing fees, and any other charges to accurately assess the total cost of borrowing.

Benefits of GTBank Loans for Non-Salary Earners

Choosing GTBank loans as a non-salary earner offers several advantages:

1. Flexibility: GTBank offers a wide range of loan options tailored to the unique needs of non-salary earners, allowing you to choose the loan that aligns with your specific financial goals.

2. Competitive rates: GTBank aims to provide competitive interest rates, ensuring that you can access funds at affordable costs.

3. Quick and convenient application process: GTBank has simplified its loan application process, making it easier and faster for non-salary earners to apply and receive loan approvals.

4. Personalized solutions: GTBank understands that each individual’s financial circumstances are different. As a result, it offers personalized loan solutions to cater to your specific requirements.

5. Credit history building: Timely repayment of GTBank loans can contribute to establishing a positive credit history, which can be beneficial for future financial endeavors.

By leveraging these benefits, non-salary earners can take advantage of GTBank’s loan offerings to achieve their financial objectives efficiently.

Frequently Asked Questions (FAQs)

1. Can I apply for a GTBank loan if I am a freelancer?

Yes, GTBank provides loan options for freelancers and self-employed professionals. You will need to submit relevant income documentation and meet the eligibility criteria.

2. What is the maximum loan amount available for non-salary earners?

The maximum loan amount may vary depending on your financial profile, the loan type, and GTBank’s policies. It’s best to consult with a GTBank representative to determine the maximum loan amount you are eligible for.

3. How long does it take to receive loan approval?

The loan approval process can vary, but GTBank strives to provide quick decisions. You may receive loan approval within a few days, depending on the completeness of your application and the verification process.

4. What happens if I miss a loan repayment?

Missing a loan repayment can have consequences, such as late payment fees and negative impacts on your credit score. It’s important to communicate with GTBank if you anticipate any difficulties in making a repayment, as they may be able to provide alternative solutions.

5. Can I pay off my loan before the specified loan term?

Yes, GTBank generally allows prepayment of loans. However, it’s advisable to check the terms and conditions of your specific loan agreement to understand any potential prepayment penalties or charges.


GTBank understands the diverse financial needs of non-salary earners and offers a range of loan options to cater to their requirements. Whether you are a freelancer, self-employed professional, or business owner, GTBank’s loans provide the necessary financial support to achieve your goals.

By meeting the eligibility criteria, submitting the required documentation, and understanding the loan terms, you can access funds to invest in your business, cover personal expenses, or acquire essential assets. Take advantage of GTBank’s convenient application process, competitive rates, and personalized solutions to unlock your financial potential as a non-salary earner.

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