Zenith Bank Loan: How to Borrow Money from Zenith Bank

Are you looking for how to get a Zenith Bank loan for personal use or business?

Zenith bank loans have low-interest rates and you could get as high as 100,000 Naira when you borrow for the first time.

In this article, you will learn how to get  Zenith bank personal loan within few minutes.

Zenith Bank

What is Zenith Bank Loan (EazyLoan)?

Zenith Bank loan also known as Zenith Bank personal loan or Eazyloan is a loan offer from Zenith Bank Nigeria to its customers. The loans given are personal loans but customers are free to do whatever they want with it.

The amount of loan you will get depends on how often you use your Zenith Bank account and how much money you transact with the account.

When you are given a loan, you are expected to pay it back with 30 days (one month).

Features of the Zenith Bank EazyLoan

Here are some of the features of Zenith Bank Eazyloan;

Short Repayment Period

Unlike Carbon and Branch where you can borrow and payback after 2-6 months, Zenith bank eazy loan only gives you a grace period of one month to repay your loan.

If you do not pay back after one month, your credit score will be affected and this would influence loan decisions from other companies in the future.

Low Interest Rate

Zenith bank eazyloan has a 3% interest rate. This means, if you borrow 100,000 Naira, you will pay 3,000 as interest.

This is one of the cheapest 30 days loans you will get this cheap.

Disbursed Instantly

Once you apply for the loan, the money is sent to your Zenith bank account in milliseconds.

Interest is charged immediately

The interest is charged immediately the Zenith bank loan has been disbursed.

If you borrow 100,000 Naira at 3% for 30 days, Zenith bank will send you 97,000 and cut the interest of 3,000 Naira from the loan.

When you are paying back this loan, you have to pay the full money back.

No Paperwork Required

You do not need to go to a bank branch to access the Zenith Bank personal loan. Your details are already with the bank.

Requirements for Zenith Bank Personal Loan

There are three steps to take before you can be qualified for a Zenith bank personal loan. The steps are listed accordingly below;

  1. You must be a Zenith bank customer.
  2. Operated your account for a certain period of time.
  3. A reasonable amount of transaction must occur in the account (the more credits the better).
  4. Register for the Zenith Bank USSD service.

It is not advisable to open a Zenith Bank account just because you want to have access to the Zenith Bank personal loans. This loan service is best suited for existing customers.

If you do not have a Zenith Bank account, you can contact your bank to confirm if they offer personal loans to existing customers. Access Bank Nigeria also has a personal loan offer for almost the same rate.

How to Register for Zenith Bank USSD Service

Registering for the Zenith Bank USSD service is one of the requirements of getting a personal loan from Zenith Bank.

In this part of the article, you will learn how to register for the Zenith Bank USSD service so that you can request for a loan.

  1. Dial *966*00# on the phone number used to receive Zenith bank alerts.
  2. Enter the last for digits on your ATM card for authentication.
  3. On the next page, your account name will appear in full and you will be prompted to enter a four digit pin.
  4. Confirm your four digit pin
  5. If successful, you will get a prompt message about retrieving your account balance.
  6. You will get an SMS alert displaying your account balances.

After completing this step, you can now apply for your Zenith Bank loan.

You can use a password manager like LastPass to save your Zenith USSD pin.

How to Apply for a Zenith Bank Personal Loan

Step 1: Dial *966*11# on the phone number used in receiving Zenith Bank alerts.

The amount of loan you qualify for will display on the screen.

Zenith bank eazyloan 2

Step 2: Enter the amount you want to borrow and send.

The amount you enter here must not exceed the amount of loan you qualify for.

Step 3: Enter 1 to accept the loan offer.

Zenith bank eazyloan

The money will be sent immediately to your Zenith bank account.

Note that Zenith bank will deduct the interest from the loan given.

How to Repay your Zenith Bank Loan

There is not much fuse here. All you need to do is to fund your Zenith bank account with the principal amount.

Zenith bank will automatically debit your bank account when your loan repayment is due.

You can also decide to pay earlier than the due date.

Frequently Asked Questions on Zenith Bank Loans

Does Zenith Bank Give Loans?

Yes of course. All commercial banks give loans to customers. However, the kind of loan you can collect depends on the kind of account you operate with the bank.

Which code can I use to borrow money from Zenith Bank?

Dial *966*11# on the phone number you receive Zenith bank alerts on to get started. You can read the article to understand the full process.

What is the Interest Rate of Zenith Bank?

For personal loans (Eazyloan), the interest rate is 3%. However, there are other types of Zenith bank loans that offer lower interest.

What Will Happen If I do not Payback my Loan on Time?

The more you delay in loan repayments, the more you damage your credit score. Other banks and loan companies have access to your credit score rating.

Once other loan services see that your credit score is bad, they will hesitate to give you loans.

You will have to build your credit score up and this may take a lot of time.

Can Zenith Bank Borrow me 1 million Naira?

If you need loans from 1 million Naira and above, you can apply for Zenith bank business loans.

I hope you have learnt how to get a Zenith bank loan. You can also check my article on how to borrow money from Carbon and how to register for Zenith Bank internet banking service.


Similar Posts

Leave a Reply

You have to agree to the comment policy.


  1. Please have been trying to the loan code is saying the service is temporarily available for now.i want to no when the service LL available

  2. My problem is that the first time I borrowed money from zenith Bank through my phone I paid back I did the same the second time now I still want to borrow and there are not giving me

    1. The transactions on your Zenith bank account plays a significant role in your loan consideration. Maybe the transactions on your Zenith bank account has reduced over time (this is just a guess though). However, you can try other loan platforms. Check out our article on the 10 best loan platforms in Nigeria.