How to apply for Suntrust Bank Consumer Loans and Requirements

How To Get SunTrust Bank Consumer Loan and Requirements

Last Updated on February 6, 2023 by admin

Are you financial trap, searching for how to get quick loan to offset your bills or Moving Expenses. Worried-less SunTrust bank has introduce Consumer Loan which can be use for Debt Consolidation,Vacation or Trips, Unexpected Expenses, Wedding Expenses and many more.

The SunTrust Consumer Loan is a smart way to borrow from the bank no matter the occasion. You could be approved and receive funds as soon as you apply—-The facility has Fixed monthly payments,Competitive Rate, NO Pre-liquidation payment, No Origination and Annual Fee Fees.

For clarification and illustration purpose, i am going to explain all the SunTrust Consumer Loan package.

1. Smart Employee Loan
2. Advance Pay
3.Asset Financing
4.Investment Backed Loans

Also read: How to apply for SunTrust Bank Salary advance loan

1. Smart Employee Loan

1. SunTrust Smart Employee loan package is designed to facilitate personal loans to confirmed staff of select private companies and government agencies whose staff salary accounts domicile with the bank. The credit facility has Maximum tenor of 36 months with attractive Interest rate which you can not find else where.

Requirements to apply for SunTrust Smart Employee loan


To qualify for SunTrust Smart Employee loan,you must meet the follow criteria listed by the bnak.

1. Age of applicant must be within 18 and 55 years anything above this limit will not be qualify

2. Applicant must have been in account relationship with SunTrust Bank for at least one month, have his/her salary domiciled with SunTrust Bank and must have a BVN

3. Applicant must be a confirmed staff of the pre-approved company or government organization with regular and verifiable source of income and must have worked with the same employer for at least six months.
4. To enable you qualify for borrowing SunTrust Smart Employee loan, you must have clean credit reports

Read: Type of Union bank loan you can apply and requirements


2. Advance Pay

SunTrust Advance Pay is an Overdraft credit facility that allows qualifying retail customers in paid employment overdraw their accounts to meet urgent financial needs.The facility has 30 days Tenor or until next pay day, i also come with Competitive Interest rate which second to None when compare to other lenders.


To qualify for SunTrust Advance Pay Overdraft credit facility you must the following criteria

1. Age of applicant must be within 18 and 55 years
2. Customer should earn a minimum salary of N25, 000.00.
3. Customer shall have clean credit reports

3. Asset Financing

The SunTrust Asset Financing loan is designed to help borrowers purchase their assets of choice without any hassle from the Bank’s pre-qualified vendors.The facility has Tenor of up to 48 months for automobiles and 24 months for other assets with Competitive interest rates


1. Must be a confirmed staff of your organization, except if self-employed
2. If self-employed, must have been in active business for at least 24months
3. Clean credit reports must be provided.

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4. Investment Backed Loans

The SunTrust Investment Backed Loans allows Bank customers use cash deposits (FCY/LCY), Federal Government of Nigeria Securities and/or investments provided by either themselves or third parties known to them as collateral for credit facilities.

The Interest rate is Negotiable (minimum margin of 6% p.a. to be maintained for facilities collateralize by cash deposits) with 12 months duration


1. Executed letter of set-off and cash/investment collateral agreement.
2. Where the tenor is longer than one year or investments have shorter tenors than the facility, the customer shall be required to provide a rollover instruction on the investment collateral over said period
3. Clean credit reports shall be available

How to apply for SunTrust Bank Consumer Loan

To apply for any SunTrust Bank loan, borrower should contact accounts manager for assistance once they meet up the requirement stated above. Also they can walk into any closest branch

Meet Ogbeide Frank, popularly known as perere, a blogger who loves writing about finance and Tech. He studied Business administration at the Ambrose Alli University Ekpoma and Mobile Communication at Orange College Malaysia .Frank have worked as a banker and consultant in variety of Nigeria agencies

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