Banks and financial institutes allow customers to apply for loan online. Similarly, you can learn how to borrow money from Zenith Bank using the USSD code to avail of short-term loans. Let’s talk more about this!
- You can apply for short-term loan with Zenith bank for up to a month with 3% charges.
- In order to apply for the loan Open dial pad > *966*11# > Amount of money > Enter 1 > Confirm.
- Loan repayment process is automated and will be deducted when the next paycheck arrives.
…and Much More!
How To Borrow Money From Zenith Bank? Step By Step Guide
Zenith Bank provides Eazy loan service that does not require any paperwork. You just have to register for Zenith bank USSD service to obtain the code which is a requirement for the loan application.
- Open the dial pad in your mobile phone.
- Enter *966*11# on the dialing pad and wait for response.
- Then enter the amount of money that you wish to borrow.
- According to the instructions, Enter 1 which will say Yes to the loan acquisition question.
Method To Pay Back Zenith Eazy Loan
The best part about borrowing money from Zenith bank is that the payment process is automated. You don’t have to manually give the money to the bank. The loan would be deducted from your account once you receive the next paycheck.
However, at the time of the payment, you have to ensure that the funds in your account is sufficient. Otherwise, your credit score will deteriorate.
Zenith Loan – In a Nutshell
Zenith provides short-term loan over a span of 30 days or a month. However, the Zenith Eazy loan is not without its fees and interested rates.
- Zenith bank charges 3% as fee which would be deducted at the time of loan application.
The loan amount would be deducted from the funds when the next paycheck is delivered. Moreover, if you do not have enough balance in your account, it would be reported to the credit bureaus. Consequently, you will experience a rapid drop in the credit score.
The Bottom Line
Obtaining Eazy loan with Zenith bank is a quick process that you can perform with just your mobile phone and without needing any paperwork. Just be careful about repayment since failure to do so timely will affect your credit history adversely.
Frequently Asked Questions
Does Zenith Bank provides loans?
Zenith offers loan to customers to help them meet their short-term needs. However, this is deducted when their next paycheck is delivered. You can use the code *966# to access the loan program.
Does Zenith bank charge a high interest rate?
The bank charges an interest rate of 1.15% P.A which is considerable less than most other options in the market.
Am I allowed to withdraw all my funds from Zenith account at once?
Accountholders are allowed to take out ₦40,000 per transaction. On top of that, you can not make more than 5 transactions in a day. Therefore, if you are keep a handsome amount of money in your account, it may not be possible to withdraw it all at once or even all of it in a day.
Can you get Zenith Bank transfer PIN without ATM card?
You will have to contact the bank via *966*00# and choose to Create PIN if you want to do it without an ATM card. This would also require you to enter 4 digit ATM card.
Cassidy Horton is freelance finance base research writer and published hundred of articles on money, banking, loan and more. Her work is published authority finance site on Forbes, Money Under30, NerdWallet and many other finance brands. Further she is considered financial expert by MSN, LegalZoom & Consolidated Credit.