Yemisi Izuora
Access Bank Plc has launched a special USSD code for quicker and instant access to loans for its customers.
The quick code, *901*11#, is a strategic tool for the recently-launched PayDay Loan product by the bank, according to a statement by the bank.
Unveiled in partnership with Remita, the PayDay Loan requires no collateral or guarantor, and it enables customers to obtain loans instantly without visiting the bank.
The product enables customers to meet their urgent financial needs before receiving their salaries.
The bank’s Executive Director, Personal Banking, Victor Etuokwu, was quoted as saying, “Acquiring loans in Nigeria has always been known to be limiting – either due to access or collateral issues, including the duration of the approval process.
“With our obligations to our customers especially during difficult economic periods, we are emphasising Access Bank’s position in offering lifestyle products and services that meet their financial needs.”
It added, “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 dialling a USSD Code *901*11# on their mobile phones.”
According to the statement, the payday loan can also be obtained to fulfil any financial and personal requirement to enhance their 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,” it added.