Access Bank Student Loan: How To Apply

Pursuing higher education is a transformative journey, but it often comes with a significant financial burden. Recognizing the importance of education and the need to alleviate financial constraints, Access Bank offers a student loan program called “Advance for School Fees.” This article aims to provide valuable insights and tips for acquiring an Access Bank student loan, covering essential aspects such as the application process, eligibility requirements, and other key information.

As an aspiring student looking to access funds for educational expenses, understanding the application process is crucial. Access Bank has streamlined their loan application procedure to ensure a smooth and efficient experience for prospective borrowers. By following the tips outlined in this article, you can navigate through the application process with confidence and increase your chances of securing the financial support you need.

Eligibility is another crucial factor when applying for a student loan. Access Bank has specific criteria in place to determine the eligibility of applicants. By familiarizing yourself with these requirements and ensuring you meet them, you can position yourself as a strong candidate for the loan program. This article will provide valuable insights into the eligibility criteria, including information on account holder status, acceptable guarantors, and the documentation required to support your application.

Moreover, beyond the application process and eligibility, this article will delve into additional important information about acquiring an Access Bank student loan. It will explore aspects such as the loan amount, which covers various educational expenses like tuition fees, accommodation costs, and educational materials. 

Repaying the loan is a significant consideration as well. Understanding the terms and repayment options provided by Access Bank is crucial for successful financial planning. This article will provide insights into when the repayment phase typically begins and any available grace periods, ensuring that borrowers are well-informed about their financial obligations post-graduation.

This loan is available to both undergraduate and postgraduate students studying in recognized institutions within Nigeria. 

One of the key advantages of the Access Bank student loan is its competitive interest rate, which helps to make education more affordable for students and their families. The loan terms and repayment options are designed to be flexible, considering the financial circumstances of the borrowers. Repayment typically begins after the completion of studies or a grace period agreed upon by the bank and the borrower.


Access Bank Student Loan is a financial product offered by Access Bank designed to support parents or guardians in ensuring uninterrupted education for their children, even in the face of unforeseen circumstances. The loan comes with several features to provide financial assistance for educational purposes. Here are the key features of the Access Bank Student Loan:

1. Loan Amount: The loan allows parents or guardians to borrow up to N5 million. This amount can be utilized to cover various educational expenses such as school fees, books, accommodation, and other related costs.

2. Repayment Period: The loan offers a repayment period of up to 6 months. This means that borrowers have a maximum of six months to repay the loan amount in full. The repayment period is designed to provide flexibility for borrowers to manage their finances effectively.

It’s important to note that specific terms and conditions, such as interest rates and eligibility criteria, may vary depending on the policies of Access Bank. It is advisable to contact Access Bank directly or visit their official website for the most accurate and up-to-date information regarding their Student Loan product.


Salaried Customers

To apply for an Access Bank student loan as a salaried customer, you will need to provide certain documents as part of the application process. These documents are necessary to verify your eligibility and ensure a smooth loan application. Here are the required documents:

  • Duly Completed Application Form: You will need to fill out the application form provided by Access Bank. The form typically requires you to provide personal information, employment details, and other relevant information related to the loan.
  • Duly Accepted Offer Letter: This refers to an acceptance letter from the educational institution that confirms your child’s admission or enrollment. The offer letter serves as proof that your child has been accepted by the institution.
  • School Fees Bill/Invoice: You must provide a bill or invoice issued by the educational institution in the name of the student. The bill should clearly indicate the total amount of fees to be paid for the academic period. This document helps Access Bank determine the loan amount you require.
  • Valid ID Card and Recent Utility Bill: You will need to provide a valid identification card, such as a national ID card, driver’s license, or international passport. Additionally, you should submit a recent utility bill, such as a water bill or electricity bill, that is not older than the last three months. These documents serve as proof of your identity and current address.

Non-Salaried Customers

For non-salaried customers, who may have different sources of income or be self-employed, Access Bank requires additional documentation to apply for a student loan. These documents help verify income, establish financial stability, and ensure repayment capacity. Here are the required documents for non-salaried customers:

  • Duly Completed Application Form: Similar to salaried customers, non-salaried customers need to fill out the application form provided by Access Bank. This form collects relevant personal and financial information required for the loan application.
  • Valid ID Card: Non-salaried customers must provide a valid identification card such as a national ID card, driver’s license, or international passport. This document serves as proof of identity.
  • 1-Year Bank Statement of Corporate Account: Non-salaried customers need to submit their corporate bank account statement for the past year. This statement helps Access Bank assess the financial standing of the business and the applicant’s ability to repay the loan.
  • CAC Documents: This refers to the Corporate Affairs Commission (CAC) documents of the business, which include the Certificate of Incorporation, Memorandum of Association, and Articles of Association. These documents verify the legal existence and structure of the business.
  • Recent Utility Bill: Non-salaried customers must provide a recent utility bill (such as a water bill or electricity bill) that is not older than the last three months. This document serves as proof of the applicant’s current residential address.
  • Duly Accepted Offer Letter: Similar to salaried customers, non-salaried customers also need to provide an accepted offer letter from the educational institution confirming the student’s admission or enrollment.
  • School Fees Bill/Invoice: A bill or invoice issued by the educational institution in the name of the student is required. The bill should clearly indicate the total amount of fees to be paid for the academic period.

Additionally, non-salaried customers have two options to provide additional financial security:

a. Evidence of Lien on Treasury Bill, Fixed Deposit, or Money Market Investments: Applicants can provide documentation showing their investments in treasury bills, fixed deposits, or money market instruments. These investments serve as collateral and assurance of repayment capacity.


b. Receipt of Acceptable Guarantee (Individual or Corporate) and Statement of Net Worth of Guarantor: Applicants can provide a receipt indicating that an individual or corporate entity has provided a guarantee for the loan. Additionally, a statement of the guarantor’s net worth should be included to assess their financial stability.

Additional Documents for Out of Bank

In addition to the previously mentioned documents, there are additional requirements for applicants who are not existing customers of Access Bank. These additional documents, known as “Additional Documents for Out of Bank,” are necessary to establish certain financial arrangements and provide further assurances for the loan. Here’s an explanation of these additional documents:

  • Executed NIBBS Mandate Form: The NIBBS (Nigeria Inter-Bank Settlement System) mandate form is a document that authorizes Access Bank to debit the borrower’s account held in another bank for loan repayment purposes. This form allows Access Bank to set up an automated repayment arrangement and ensures timely loan repayments.
  • Acceptable Party Guarantee (Personal or Corporate): Applicants who are not existing customers of Access Bank are required to provide a guarantee from a trusted individual or corporate entity. The guarantor must maintain a salary or corporate account with Access Bank. This guarantee serves as an additional layer of financial security and assures the bank that the loan will be repaid.
  • Statement of Net Worth of Guarantor: Along with the guarantee, the guarantor is also required to provide a statement of their net worth. This statement outlines their assets, liabilities, and overall financial position. It helps Access Bank assess the guarantor’s financial stability and capacity to fulfill the guarantee in case of default by the borrower.
  • Payslips and 6 Months Statement: Applicants are required to provide their payslips and bank statements for the past six months. Payslips help verify the applicant’s income and employment status, while bank statements give insights into their financial transactions and stability.
  • Letter of Lien/Set-off: This document allows Access Bank to exercise a lien or set-off against any existing accounts or funds held by the applicant in other banks. It means that Access Bank can utilize these funds to recover any outstanding loan amounts in case of default.

How it works

The process for applying for the Access Bank student loan is straightforward and involves the following steps:

1. Download the Attached Forms: Begin by downloading the attached application forms provided by Access Bank. These forms contain the necessary fields to input your personal and financial information required for the loan application.

2. Fill in with Accurate Information: Take your time to accurately fill in the forms with the required details. Ensure that all the information provided is correct and up-to-date. Double-check the forms before proceeding to the next step.

3. Append Your Electronic Signature: To add your electronic signature, you can use a scanner app on your phone. Scan your physical signature and save it as an image file. Then, copy and paste the image onto the appropriate section of the form that requires your signature. This electronic signature serves as your consent and agreement to the terms and conditions of the loan.

4. Send Completed Form and Required Documents: Once you have completed the forms and gathered all the required documents, you need to send them to the designated email address provided by Access Bank. In this case, you should email the completed form and all the necessary documents to schoolfeesadvance@accessbankplc.com. Ensure that you attach all the required documents to the email.

5. Loan Processing: After you have submitted your application and documents, the Access Bank team will pick them up and begin processing your loan. They will review your application, verify the provided information, and assess your eligibility for the student loan. This process may involve credit checks, verification of documents, and evaluating your repayment capacity.

It’s important to note that the email address and specific instructions mentioned here are based on the information provided. However, these details may change, and the most accurate and up-to-date application process can be obtained by contacting Access Bank directly or visiting their official website. They will be able to guide you through the correct process and provide any additional instructions that may be necessary.


After the loan application has been processed and approved by Access Bank, the following steps take place:

a. Loan Approval and Offer Letter: Once your loan application is approved, Access Bank will communicate the approval to you. They will provide an offer letter that outlines the terms and conditions of the loan, including the loan amount, interest rate, repayment period, and any other relevant details. It is important to carefully review and understand the offer letter before proceeding.

b. Execution of Offer Letter: After receiving the offer letter, you need to review it thoroughly and, if you agree to the terms, proceed to execute the offer letter. This involves signing and returning the offer letter to Access Bank. Make sure to follow the instructions provided by Access Bank on how to execute the offer letter.

c. Submission of Necessary Documents: Along with the executed offer letter, you may be required to submit additional necessary documents as specified by Access Bank. These documents could include any outstanding or pending documentation that was not submitted during the initial application process. Ensure that all the required documents are provided promptly and accurately.

d. Loan Disbursement: Once Access Bank receives the executed offer letter and all the necessary documents, they will proceed with the disbursement of the loan. The loan amount will be credited to your account with Access Bank.

e. Transfer to School’s Account: After the loan has been disbursed into your account, Access Bank will facilitate an immediate transfer of the loan amount to the school’s account. This transfer ensures that the funds are directly sent to the educational institution to cover the specified expenses, such as school fees.

f. Transaction Receipt: Upon completing the transfer to the school’s account, you will receive a transaction receipt or confirmation from Access Bank. This receipt serves as proof of the successful transfer of funds to the school. It is advisable to keep this receipt for your records.

g. Present Transaction Receipt at School: Finally, you need to present the transaction receipt or confirmation to the school as evidence of payment. This step ensures that the school acknowledges the payment made on behalf of the student and helps avoid any disruptions in the student’s enrollment or education.

Contact Information

To get in touch with Access Bank, you can use the following contact details:

Email: Send an email to contactcenter@accessbankplc.com for any inquiries or assistance you may need.

Phone: To speak directly with the Human Resources Team, you can call the following phone number: (+234) 702 608 5859. They will be able to address your queries or provide the necessary support.

These contact details should enable you to reach out to Access Bank for any specific concerns or general assistance you require.

Image Credit: Access Bank Nigeria

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