Last updated on August 19th, 2021 at 02:26 pm
The GTB car loan is a GTB loan that enables corporate entities and salary earners who have accounts with GTBank to pay for their vehicle insurance premium upfront and make repayment over a 12-month period.
What You Get
- Immediate availability of funds to pay for your insurance premium
- An opportunity to pay for your car insurance premium monthly
- An insurance cover that does not require your presence in the insurance office
Features
- As an individual, you can get access to between N20,000 to N1 million while corporate organizations can get between N20,000 to N5 million
- The loan has a maximum tenor of 1 year
- The loan interest rate is 1.67% monthly
- There’s an equity contribution of 20% of your total insurance premium cost
- There’s a 1% one-off flat fee
How To Apply for The GTB Car Loan
You can apply for the GTBank car loan using either the internet banking platform or the GAPS/GAPS Lite.
Using the GAPS/ GAPS Lite:
- Your loan is availed immediately
- Your car insurance provider processes your insurance within 48 hours
- A copy of your insurance certificate is sent to your email address
- You repay the loan on a monthly baasis
