Guaranty Trust Bank (GTBank) has launched Quick Airtime Loan, a service that lets customers borrow airtime directly from their bank account when they’re running low on credit — and at a cost that significantly undercuts what mobile networks currently charge.
The service, accessible by dialing *737*90#, allows eligible GTBank customers to borrow between ₦100 and ₦10,000 in airtime on demand. It works across all major mobile networks in Nigeria and will expand to include data loans in the near future.
A direct challenge to Telco pricing
The most striking aspect of the launch is its pricing. Telcos have long held a near-monopoly on airtime credit services in Nigeria, charging customers as much as 15% for the convenience. GTBank’s entry into the space comes in at just 2.95% — less than a fifth of what the networks charge — a gap the bank is making no effort to downplay.
For millions of Nigerians who rely on prepaid mobile services, the difference is meaningful. Running out of airtime at the wrong moment — during a job interview follow-up, a medical emergency, or a critical business call — is a daily reality, and one that has historically come with a steep price tag if you needed to borrow to stay connected.
Ecosystem play, not just a product launch
Beyond the headline rate, GTBank is positioning Quick Airtime Loan as part of a broader strategy to deepen its role in customers’ everyday financial lives. The product is built on infrastructure from HabariPay’s Squad platform — the payments fintech arm of parent company GTCO Plc — weaving together the group’s banking, lending, and payments capabilities into a single, seamless customer experience.
Miriam Olusanya, Managing Director of Guaranty Trust Bank, framed the launch as a natural extension of the bank’s digital ambitions: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. By leveraging unique strengths across the Group, we are able to accelerate innovation and deliver a more integrated customer experience across all our service channels.”
The product builds on GTBank’s existing digital lending infrastructure, including its QuickCredit product and the widely used *737# USSD banking platform, both of which have established the bank as a pioneer in accessible, mobile-first financial services.
What’s next
GTBank says data loans are already in the pipeline, signalling that Quick Airtime Loan is intended as a platform rather than a standalone feature. If the pricing holds and adoption follows, it could mark a genuine shift in who controls — and who profits from — the airtime gredit market in nigeria.
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