Pay Day Loan - Frequently Asked Questions

PayDay Loan is a quick loan facility for salaried workers. It can be accessed instantly using our mobile banking shortcode - *901#. It is ideal for those who need to meet immediate cash flow constraints quickly and seamlessly

⦁    You can access PayDay loan instantly. 
⦁    You do not need to visit a branch to apply for a PayDay loan. 
⦁    Also, there is no documentation or collateral required to access this loan. 
⦁    You can apply for PayDay loan at any time of the day
  • Currently, PayDay loan is available to only salaried workers whose accounts are domiciled at Access Bank. 
  • New customers can also apply if they move their salaried accounts to Access Bank. 

Simply dial *901*11# on any phone (basic or smartphone), select Option 1 – PayDay loan and follow the easy steps to apply.  

Yes. You are entitled to apply for an amount less or up to 40% of your monthly net salary. 
No. If you are non-salary earner, you will receive a message prompt informing you that you are not eligible to apply for the loan. You will be further told to call the Contact Centre for assistance. 

PayDay loan is instant. As soon as you apply on your phone, you will get the loan disbursed to you instantly in seconds – that same day.  

Yes, charges will apply as follows:  
  • 2.5% Flat interest rate
  • 0.5% Management fee 
  • 0.5% Processing fee 
  • 0.75% Loan protection Insurance

Within 31 days, or payable upon receipt of your next salary in your account.   

  1. Applicable charges are deducted immediately the loan is disbursed into your account.  
  2. Actual loan amount is then deducted from your account within 31 days. 

Yes, as long as it does not exceed 40% of your monthly net income

You can apply up to a maximum of three times within a day.

Simply select Option 2 (Check Loan Status) from the main menu to know your loan status. 

You can contact our 24/7 Customer Contact Centre on 0800 00 4400 toll free or 0302 742 699 for any additional information you need on PayDay Loan.