Guaranty Trust Bank Ltd (GTBank) has launched a Quick Airtime Loan to provide eligible customers with instant access to between N100 and N10,000 airtime when they run out of call credit and have limited funds in their bank accounts.
The bank described Quick Airtime Loan as a convenient loan offering that enables qualifying customers to access airtime on credit whenever their account balance is low. The service is designed to help customers stay connected at all times, even without sufficient funds, as the borrowed amount will be automatically deducted from the customer’s account upon the next funding.
The product is available across all major mobile networks in Nigeria. GTBank also announced that the service will soon expand to include data loans, strengthening its position as a reliable on-demand platform for customers.
For years, the airtime credit market has been dominated by Telcos, where charges for the service are around 15 percent. GTBank’s Quick Airtime Loan comes with an interest rate of 2.95 percent per month, approximately 35.4 percent per annum. The loan tenor is 7 days, and pre-liquidation is allowed without penalty.
The loan is strictly for financing the purchase of airtime, allowing customers to repay later. Repayment is automated and triggered either weekly at the end of the 7-day tenor or upon the next credit inflow into the customer’s account. The borrower shall make a single due date repayment of principal and interest, subject to the selected tenor not exceeding 7 days.
The bank noted that if the account is not funded, a block will be placed on the account to recover funds from future inflows. A 1 percent flat one-off charge applies as credit insurance. As part of the security requirement, borrowers are expected to domicile their salary with GTBank.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience.”
Customers can apply by dialling *737*90#.
