Here are the 3 Banks offering airtime lending service | See how to borrow

Borrowing airtime and data has hit a sudden halt following recent developments in which mobile network operators (MNOs) announced a temporary suspension of the airtime lending service. 

Termed XtraTime, the service allows telecom subscribers to borrow airtime or data and pay back at an interest rate deducted from their next recharge.

Following the temporary suspension officially announced by MTN and Airtel, with checks revealing that Globacom and T2mobile (formerly 9mobile) have also followed suit, subscribers have been unable to access the service using the general code *606#. 

However, some commercial banks are still in the business of airtime lending services, which subscribers can leverage. This article will spotlight the banks, modalities of the service, repayment model and how to borrow.

Also Read: MTN, Airtel, Glo to lose over N300bn revenue as FCCPC approves new airtime and data lenders.

Here are 3 banks that offer airtime lending services 

GTBank

GTBank offers only an airtime loan through its Quick Airtime Loan service. Launched in February 2026, the service allows GTBank customers who have an active account to borrow airtime instantly.

Eligibility: Open to customers who have an active GTBank account operated for at least 3 months. Within this period, customers must have performed a financial transaction of at least N10,000.

How to borrow: To borrow airtime, dial *737*90# on the phone number linked to your bank account. The amount ranges from N100 to N10,000.

The airtime loan is payable within 7 days and attracts a 2.95% interest service charge (compared to telcos’ 15%). Also, the loan is repaid directly (automatic deduction) from the user’s GTBank account. 

However, if the customer’s account is not funded on the 7th day, a restriction may be placed on the account to recover funds from future inflows.

First Bank

Through its First Bank Quick Credit product, the Bank offers an airtime loan to eligible customers. 

Eligibility: The service is only available for financially active First Bank customers.

Modalities: The airtime loan ranges from N200 to N5,000 with a 12.5% interest rate payable within 7 days. 

How to borrow: On your linked phone number to bank account, dial *894# and select Loans (or option 3), then FirstCredit and select or input your account number. Choose or select your desired loan amount and then input your 5-digit USSD PIN. 

FCMB 

The First City Monument Bank also allows customers to take an airtime loan. Also, the service is only available to FCMB customers with a financially active account for at least 3 months. 

Modalities: The airtime loan ranges from N200 to N5,000, payable within 7 days with a 12.5% interest rate, which is charged upfront. The loan amount is deducted from any inflow into all customers’ accounts with FCMB.

Failure to repay after day 7 attracts a continuous interest rate at the same rate of the loan. This rolls for a maximum of 30 days after the due date of the loan.

How to apply: Dial *329#, select Loans, select Airtime Loan, and follow the next steps.

Aside from the above banks, the FCCPC recently approved five new airtime and data lenders. 

The five firms, all Value Added Services (VAS) operators, are Total Tim Nigeria Limited, Rane Interactive Medien CLS Limited, Mode NG Applications Limited, Cloud Interactive Associate Limited, and Coverage Broadband Limited.