With the intent to provide quicker and instant access to loans for customers, Access Bank has launched a special USSD code 90111#, as a strategic tool to drive its Payday Loan product.
Unveiled in partnership with Remita, the strategic tool requires no collateral or guarantor, enabling customers to obtain loans instantly without visiting the bank – thereby enabling customers to meet their urgent financial needs before receiving their salaries.
In a statement released by the bank, 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,” he added.
Etuokwu further explained that the 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 them to obtain a loan instantly by simply dialling a USSD Code 90111# on their mobile phones.
“Payday loan can also be obtained to fulfill 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 be able to obtain instant loans without stress or involving a guarantor”, the statement read in part.