How to Apply for GTBank School

How to Apply for the GTBank School Fees Advance in Nigeria

Guaranty Trust Bank (GTBank) offers the School Fees Advance facility in Nigeria to provide salaried individuals with the financial support necessary to cover their children’s or wards’ tuition fees promptly. This loan is a valuable instrument for maintaining academic continuity.

Key Requirements for Loan Eligibility

To qualify for the School Fees Advance in Nigeria, applicants must satisfy several specific conditions, primarily centered on employment stability and banking relationship with GTBank.

1. Salary Domiciliation: The applicant’s salary must be domiciled with Guaranty Trust Bank. This is a non-negotiable requirement as the loan repayment is secured by the salary inflow.
2. Employment Status: The applicant should be a confirmed staff member employed by a reputable public or private organization.
3. Account Holder: The facility is generally available only to GTBank account holders.
4. Purpose: The loan must be strictly for the payment of school fees to institutions within Nigeria (for Naira-denominated loans) or abroad (subject to separate foreign exchange protocols like Form A).
5. Documentation: Applicants must prepare the following core documents:
   • Completed Application Form: The official School Fees Advance Application Form.
   • School Fees Bill: The original tuition invoice or bill from the school.
   • Valid ID: A clear copy of a valid means of identification (e.g., Driver’s License, National ID, or International Passport).
   • Guarantors: Two individual external guarantors with proper identification (such as BVN and Identity Cards) and a Letter of Intent to guarantee the loan.
   • Post-Dated Cheques: Signed post-dated cheques covering the repayment period (a common security requirement).
   • Utility Bill: A copy of a utility bill dated within the preceding three months for address verification.
   • Employer Undertaking: A completed Employer Undertaking Form securing the continued domiciliation of the salary with GTBank until the loan is fully liquidated.

Step-by-Step Application Procedure

Applicants initiate the process by compiling the required documentation and submitting them through the appropriate bank channels.

1. Obtain and Complete Forms: Applicants should download or collect the official School Fees Advance Application Form and the Employer Undertaking Form from any GTBank branch or the Bank’s website. Accurately complete all sections of these forms.
2. Secure Employer and Guarantor Endorsements: The applicant must secure the endorsement of their employer on the undertaking form, confirming employment status and commitment to salary domiciliation. Similarly, the guarantors must execute the required documents.
3. Compile and Submit Documents: Gather all mandated supporting documents (ID, school bill, utility bill, post-dated cheques, and guarantor documents). Submit the complete package to your Account Officer or the Customer Service desk at your nearest GTBank branch.
4. Credit Review: The Bank conducts a thorough credit assessment based on the submitted documents, focusing on the applicant’s Net Monthly Salary to determine the maximum affordable loan amount.
5. Loan Disbursement: Upon successful approval, the Bank typically disburses the loan amount directly to the school’s account as specified in the tuition bill, thereby completing the payment obligation on the applicant’s behalf.

GTBank Contact Channels

For enquiries, assistance, or to initiate the application process, applicants can utilize the following official GTBank communication channels in Nigeria:

• GTConnect (Interactive Contact Center): Call +234 700 4826 66328 or +234 201 448 0000 for immediate support from a Customer Service representative.
• Branch Visit: Visit any GTBank branch nationwide to speak directly with an Account Officer or the Customer Service team.
• WhatsApp: Use the official WhatsApp channel for quick communication: +234 904 000 2900.
• Website: Utilize the “Contact Us” or “Help Centre” pages on the official GTBank website to submit written enquiries.

Frequently Asked Questions (FAQs)

1. Can I use this loan for international school fees?
   • Answer: Typically, Naira-denominated School Fees Advance covers schools within Nigeria. For foreign school fees, you must follow the Central Bank of Nigeria’s Form A process for service transactions, which involves a separate application and foreign exchange provision protocol through the Bank.
2. What is the maximum repayment period for this loan?
   • Answer: The maximum repayment period (tenor) for the School Fees Advance is generally 12 months. Repayments are structured as equal monthly installments deducted directly from your salary.
3. Is collateral required to obtain the loan?
   • Answer: The primary security for the loan is the domiciliation of the borrower’s salary and the Employer Undertaking Form. However, the requirement for two external guarantors and post-dated cheques also serves as crucial security measures, reinforcing the loan’s recoverability.

it is worth it?

The GTBank School Fees Advance offers a vital and formalized financial solution to bridge the gap between salary cycles and the critical need to pay tuition fees. By satisfying the clear requirements—particularly salary domiciliation and comprehensive documentation—applicants can successfully navigate the established steps and leverage the Bank’s diverse contact channels for support.

This facility actively empowers customers to fulfill their educational responsibilities, ensuring that their children benefit from uninterrupted schooling without creating undue stress on the household’s immediate cash flow.

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