Last Updated on March 14, 2022
Ecobank Loan code: Borrowing money from Ecobank has come a long way, and as they have introduced a new way to get a quick loan. You do not need to visit the nearest branch and provide documents before you can get a loan. In today’s guide, I will share with you the code you can use to borrow money from Ecobank with your phone.
Getting a loan in Nigeria is inevitable, whether it’s from a loved one or an institution; almost everyone probably has a story where they had to obtain a loan. The Ecobank loan is designed to finance that need which made you request for it in the first place.
Are you seeking the code to borrow money from Ecobank in Nigeria? You have come to the right place. In this article, I will share with you the code you can use to borrow money from Ecobank.
Table of Contents
Ecobank Loan Code
The code to borrow money from Ecobank Nigeria is *326#. You can access the code on your mobile phone number linked to your Ecobank account. Also, it is accessible from all networks in Nigeria, including GLO, MTN, Etisalat, 9mobile, and Airtel.
READ ALSO: UBA Loan Code | How To Borrow Money From UBA
However, borrowing money from Ecobank through the USSD code is available to all Ecobank mobile banking customers. Before you can use the code to borrow money from Ecobank, you must activate their USSD banking service on your phone.
Take note that access to the Ecobank loan code is only available on your mobile phone number linked to your bank account.
Different Types of Ecobank Loans
Ecobank has a wide range of offers for getting a loan in Nigeria that suits personal and business needs. You might get confused in the process of choosing the right fit. For this reason, we have created this exhaustive list of every single Ecobank loan available and how you can get any one of them.
The types of loans you can borrow at Ecobank include:
1. The Ecobank Auto Loan
Ecobank plc offers an Auto Loan or Asset Acquisition program to their customers. This loan will help you achieve your ambition of owning a new vehicle or generator. They organized this loan to finance up to 90% of the total cost of the asset.
2. The Ecobank Advance Facility Loan
Ecobank can assist you if you find yourself with unforeseen financial needs. This Ecobank Advance Facility loan would allow you to borrow up to 50% of your net monthly pay in a matter of days.
3. The Ecobank Cash Backed Loan
Ecobank’s Cash Backed Loan is a pre-approved, low-interest loan that will enable you to access cash without depleting your assets if you have an existing deposit or investments with them.
4. The Ecobank Mortgage Loan
Whether you’re buying a new house, renovating an existing one, or refinancing your current one. This Ecobank Mortgage Loan is a great way to get started.
5. The Ecobank Personal Loan
The Ecobank Personal Loan is a multi-purpose loan with various repayment options and the ability to access additional cash once you repay the loan. This is also a good option for student loans.
6. The Ecobank Salary Advance Loan
This is one of the most popular loans because it allows you to get money quickly in an emergency. Employees of an approved company can borrow up to 40% of their net monthly salary with this loan type. Consequently, as it is a 30-day overdraft loan.
7. The Ecobank Travel Loan
The Ecobank plc Travel Loan makes it easier to budget for your holiday by providing discounts on airline tickets and hotel accommodations.
What are the requirements for getting a loan from Ecobank?
You can get a loan quickly, but for those who don’t know how, it’s simple once you know what you need.
Below are the requirements for Ecobank loan:
- Applicants must have already been banking with Ecobank for up to six months
- Applicants must provide either a National ID card, international passport, driving License
- Provide a utility bill
How can I apply for an Ecobank loan?
You can apply for an Ecobank loan in a variety of methods, but to get begin, you must first:
- Request a loan at any of their locations near you. You can also use the Ecobank branch locator to discover the closest Ecobank branch to your location.
- You can access Ecobank’s banking system by dialing *326#, which is the Ecobank’s immediate rapid loan code.
How to Pay Back Ecobank Loan
When you receive a loan from Ecobank, they will duly inform you on how to repay the loan.
For most of the products, you will pay monthly installments after about 30days of receipt. This amount is automatically deducted from your account every month, to save you from the stress of visiting your banks.
This is not just peculiar to Ecobank. It is the same method adopted for Zenith Bank Loans, and so on.
Conclusion
Banking systems provide many new convenient features for customers, and Ecobank is no exception. They offer some of the best loans for its customers to assess, and their loan services are diversified, meaning there’s something for everyone.
What’s your take on this? We believe this article proves immensely. Please feel free to share this with your friends and colleagues. You can do that by using the social media sharing buttons below. Also, please don’t fail to let us know how you feel about this guide using the comment box below.