Access Bank Interest Rate on Loan + Loan Calculator

We’ll be going into the world of loans and explaining what the Access bank interest rate on loan. Understanding these rates is important if you’re considering taking out a loan. So, let’s get into it?

Access Bank is one of Nigeria’s leading banks and they offer different types of loans to their customers. These loans are created to help with a good number of needs that can be from personal to business or company monetary needs. Now, let’s find out what the interest rates look like for these loans.

Access Bank Interest Rate on Loan

Here are the interest rates on different loans offered by Access Bank:

Payday Loan

Access Bank’s Payday Loan is a loan made to meet needs that could arise before payment of salary, and is offered to both customers and outsiders. It has an interest rate of 10% for Access Bank customers and 11% for third-party non-Access Bank customers(outsiders). Additionally, there are other charges like a management fee of 1% and a 0.3% credit life insurance fee which will be deducted first.

Creative Sector Loan

For those in the creative industry like fashion, information technology, movie production, movie distribution, music, and software engineering students. This loan is to help them with growth, expansion, and creation of employment opportunities. Access Bank offers the Creative Sector Loan with an attractive maximum interest rate of 9% per year. This rate includes all charges.

Small Ticket Personal Loans

If you’re looking for a small personal loan, Access Bank’s Salary Advance, which falls under the Small Ticket Personal Loans category, offers you up to 400% of your salary with a repayment time frame of 12 months(1 year). It has an interest rate of 10% on a reduced balance (meaning higher interest payments at the beginning of the repayment timeframe then less as time passes). There are additional charges such as a management fee of 1% and a credit life insurance fee of 1% which will be deducted first.

Personal Loan

Access Bank offers Personal Loans to help employees with any personal monetary need they might have with a competitive interest rate of 9% per annum(year). This rate is attractive but it’s important to know that it may have its own specially designed set of terms and conditions. So always check by contacting the bank to know what might have changed.


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Access Bank Interest Rate on Loan Calculator

Now that we know what the interest rates look like, let’s see how you can calculate the complete amount you will have to pay (main amount and interest rate together). Access Bank, like many other banks, provides a loan calculator on their official website. Here’s how you can use it:

Access Bank loan calculator

Accessing the Loan Calculator

Visit Access Bank’s official website and locate the loan calculator or click on this link Loan Calculator | AccessBank ( to get there directly. This tool allows you to know your monthly payments and the total repayment amount.

Input Loan Details

Once you’re on the loan calculator page, you’ll need to enter some essential information:

  • Loan Amount (₦): This is the principal amount you wish to borrow.
  • Interest Rate (%): Enter the annual(per year) interest rate for the particular loan product.
  • Loan Duration (Months): Specify the number of months you plan to repay the loan.


After entering the necessary details, click the “Calculate” button. The loan calculator will then provide you with these details:

  • Total Repayment (Principal + Interest): This is the total amount you’ll repay over the repayment time frame, including the principal (the main loan given) amount and the interest.
  • Monthly Payment: This shows you the amount you’ll need to pay every month to clear your loan.

This tool is very easy to use and it helps you to know the weight you will have to bear when you take a loan it also helps you to have a less stressful way of handling your monthly payments before you even take the loan.

How to apply for loan from Access Bank?

There are several ways to apply for a loan on Access Bank, below are some of them:

  1. Using USSD
  • Dial *901*11#, *426*11#
  • Select the appropriate options to apply for a loan
  1. Using The Access Mobile App
  • If you don’t have the Access bank mobile app, you can download it from play store or app store
  • Open the app and Click on the “loan and investment” option.
  • Select the loan of your choice then follow all other prompts from there. The other prompts may require some important information and then your transaction PIN to complete the request.
  • After which the loan will be sent to your account.


Access Bank offers a range of loans with competitive interest rates. Whether you’re considering a Payday Loan, a Creative Sector Loan, a Small Ticket Personal Loan, or a Personal Loan, it’s important to understand the interest rates that come with each loan type.

If you’re planning to take out a loan, Access Bank’s loan calculator can help you calculate your monthly payments and the total repayment amount, allowing you to make your decision after knowing the advantages and disadvantages.

Remember that loan terms and conditions may change with time, so it’s also good to stay updated on what might be new. You can do this by visiting Access Bank official website , or their physical branch, or contact their customer care center. When taking a loan, please make sure that the time frame for repayment is fine with you and that the loan will be okay to meet your needs.


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