GTB Car Loan: Everything You Need To Know

Dec 5th, 2020

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.

GTB Car Loan

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:

  1. Your loan is availed immediately
  2. Your car insurance provider processes your insurance within 48 hours
  3. A copy of your insurance certificate is sent to your email address
  4. You repay the loan on a monthly baasis

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