Online Loan In Nigeria - Top 10 Money Lending Platforms In Nigeria

Are you looking for a good platform to borrow an online loan in Nigeria? A money lending platforms where you can easily borrow loan without any collateral or paperwork, but with little charges to solve all your daily needs and wants?

Each one of us need money at times to satisfy different problems which could not be met solely by depending on savings. Loans in such a circumstances will be a perfect solution. You have 3 alternative options to seek a loan from this finance market namely: family & friends, Bank and lastly online. Now let me explain it to you in a more elaborate form.

Seeking for a loan through family & friends is very difficult nowadays and most times they will disappoint you by giving you different excuses and even when decides to help you, they can only give you a small amount of money which can't solve your daily needs or wants.

Seeking for a loan through bank is hard and stressful and if they do, they are likely going to request for a collateral or documents before giving out a loan.

Now imagine you are standing in a long queue for more than 3 hours just to fill/submit your loan application form. drifting from one lender to the other searching for more information about the loans being offered by them, only to find out that even if the give you loan, they are going to request for a collateral or documents before granting you a loan, so how does it sound. Isn't that tiring and stressful?

Seeking for a loan through online. Now, imagine you are sitting in front of a computer with an internet connection, and now you can access infinite number of lenders and can submit your loan application form online without moving from your home or office. Fill in a small form and leave the rest on the lender; let them find the perfect loan for you. Isn't it great and fabulous? Using Internet to apply for a loan from your home or offices computer.

Now if you have to decide which option is best for you, which one will you choose? Am pretty sure most of you will opt for the last option. Online loan. Because we all look for the best and easy alternative which offers the convenience.



So in this article, we are going to discuss about the top 10 best money lending platforms in Nigeria namely:


  • Specta by sterling
  • Branch loan
  • Renmoney loan
  • Carbon (paylater)
  • Aellacredit loan
  • Fint loan
  • Gtbank Quick Credit
  • Fairmoney loan
  • C24 loan
  • Kiakia loan



Online Loan In Nigeria - The Top 10 Money Lending Platforms In Nigeria


Online loans in Nigeria, they've become the new fad in lending. Loans have always been popular for many reasons, whether it was for personal use, business, auto or mortgage use. Loan have always been a way for people who need it to get funding fast. In the past, it was at banks that people generally sought the funding they needed, but in today's computer and smart phone age, online loan have become the best and easy way of funding of the future. Here are my top 10 online loan y lending platforms in Nigeria.


Specta Loan by sterling




Specta is sponsored by sterling bank and  is one of the fastest money lending platforms in Nigeria where you get an instant online loan in Nigeria of up to N5 million in one transaction all within 24 hours, no collateral, no paperwork and no visit to any office. With specta, you can take care of urgent personal and business needs anywhere, anytime.

Note

Specta is open to everyone irrespective of your occupation and bank.

How Specta loan Works



  1. Visit the Specta official website
  2. Scroll down and click on "start your journey"
  3. Select any amount of money you choose to borrow(minimum N2,000 and maximum N5 million)
  4. Click on "start application" below the loan and fill out a form such as your name, bank details, bvn and date of birth
  5. Receive the funds within 24 hours if being accepted directly to your bank account.

  • Requirements: bank details, BVN,
  • Loan tenure: 1 month - 12 months
  • Interest rate: 26% - 30% per annum
  • Repayment methods: auto-debit.



For more information about the Specta loan, please click Here

Branch Loan



Branch makes it easy for people in Nigeria to access a loan, anytime, anywhere. Complete your application in seconds and receive your loan directly to your bank account. It is fast, convenient and reliable way to access credit when you need it. Branch is available in the following countries: Nigeria, Tanzania, Kenya, Mexico and India.


How branch loan Works




  1. Download the Branch app from Google play store
  2. Click on "the sign-up" or "create an account" button
  3. Fill out a form such as your name, phone number, bank details etc.
  4. Click on the "my loan" page in the app
  5. Select any amount of money you choose to borrow (minimum N1,000 and maximum N200,000)
  6. Click on the "request this loan" to proceed your request.
  7. Receive your funds within 24 hours if being accepted directly into your bank account.

Note

If you repay loans as scheduled, the amount that you borrow will increase automatically.

  • Requirements: Your phone number or a Facebook account, bank verification number (BVN), and bank account number.
  • Acceptable bank account: GTBank, UBA, First bank, Access/Diamond Bank, Wema Bank, Eco Bank, Keystone Bank, Sky Bank, Stanbic IBTC Bank, Union Bank, Zenith Bank, Unity Bank, Sterling Bank, Citi Bank, Enterprise Bank, Fidelity Bank, FCMB, Heritage Bank, Standard Chartered Bank and Mainstreet Bank.
  • Interest rate: 14% - 28% Per annum
  • Equivalent monthly interest: 1% - 21%
  • Equivalent APR: 15% - 260%
  • Loan tenure: 1 month - 15 months
  • Multiple loans at a time: No
  • Repayment methods: Debit card, mobile banking app, auto-debit, GTBank USSD.

Note

Interest rates are determined by a number of factors, including your repayment history with branch and the cost of lending with branch.

For more question and answer, visit the branch loan official page Here.

Also ReadBest Refer And Earn Apps That Pays Cool Cash

RenMoney Loan




RenMoney is a fintech leading money lending platforms in Nigeria and a sure place to get online loan in Nigeria operating under a microfinance banking license in Lagos, Nigeria. They provide/give loans to individuals and private ventures through their website, contact center, agent network and branches. Regulated by the central bank of Nigeria (CBN) and insured by the NDIC.


How Renmoney loan Works



  1. Visit the Renmoney official website
  2. Select any amount of money you choose to borrow (minimum N5,000 and maximum N5 million)
  3. Fill out a form, such as your name, bank account details, please number and address
  4. Upload your national ID, international passport, PVC or driver's license and a bank statement
  5. Accept the terms and conditions
  6. Receive your funds within 24 hours if being accepted, directly to your bank account.

Note

You must be 25 years or above before you can request for a loan.

  • Requirements: BVN, bank statement and valid ID
  • Qualifications: you must have verified source of income and must be from 25 - 59 years old and also lives or work in the area RenMoney is being operated. I.e you must be a Nigeria living in Nigeria.
  • Loan tenure: 3 months - 12 months
  • Multiple loans at a time: No
  • Top-up: yes
  • Interest rate: 4% - 5% per month
  • Repayment methods: cash deposit/online transfer, cheque or through paystack.

Note

RenMoney uses a risk based pricing model which estimates the risk of lending to each applicant and prices accordingly.

For more question and answer, visit the Renmoney official website Here.

Carbon (Paylater) Loan



Carbon, formally known as Paylater is a place where you get an instant online loan in Nigeria without collateral. They have been around for some years now and have risen to become one of the best loan lending platforms in Nigeria. Carbon, also allows you to initiate a transfer, recharge airtime on your mobile phone and pay for utility bills such as Dstv, Gotv, bet9ja etc. Within the app.


How Carbon Loan Works



  1. Download the Carbon (Paylater) app from Google play store
  2. Click on the" registration" button to register
  3. Fill out a form such as your name, email, date of birth and phone number.
  4. Click on "finish" and a page will open where you can accept it's terms and conditions
  5. Create your 4 digit pin
  6. Login to your carbon account
  7. Complete your profile, such as your employment status, monthly income and your bank details and click on "save".
  8. Choose any amount of money you wish to borrow. (minimum N5,000 and maximum N1 million)
  9. Receive your funds within 24 hours if being accepted, directly to your bank account.

Note

There is a validation charge of N100 on your initial loan.

  • Requirements: valid bank details and BVN
  • Interest rate: 5% - 30% per month, depending on credit rating
  • Loan tenure: 2 weeks - 6 months
  • Multiple loans at a time: No
  • Repayment methods: bank/online transfer, debit card and quickteller.


Aella credit Loan



Aella credit is an online mone lending platforms in Nigeria designed to make it easier for individuals in the emerging markets to gain access to financial freedom. Although aella credit was first made only for employees of companies within their network.

But now, aella makes it easier for individuals and businesses in Africa to gain access to financing. Aella credit is one of the best online loan in Nigeria with direct integration with the Nigerian credit bureaus.

How Aellacredit Works


  1. Download the Aella credit from Google play store
  2. Click on the "registration" button
  3. Fill out a form, such as your name, email and phone number
  4. Choose any amount of money you wish to borrow (minimum N1,500 and maximum N90,000)
  5. Receive your funds within 24 hours if being accepted directly to your bank account.

Note

Aella credit is available in Nigeria, Ghana and Philippines.

  • Requirements: valid bank details, BVN and employer registration(for in-house loans)
  • Loan tenure: 30 days - 60 days
  • Interest rate: 4% - 29% per month
  • Multiple loans at a time: No
  • Top-up: No
  • Repayment methods: Debit card.

Note

Aella credit has two options: in-house network which is for users whose company is registered on the platform and out-of network which caters for people whose company is not registered. The in-house network channels promises higher loan amount at lower interest rates.

Fint Loan


Fint is the leading online loan marketplace in Nigeria that connects lenders looking for competitive returns with creditworthy borrowers looking for short term personal loans or business opportunity loans.

This lenders are investors who are looking to invest their funds in other to generate income or profit. The lenders/investors makes 26% - 39% on a yearly basis. So if you have money and you are looking for a sure place to invest it, then, no look further than FINT.


How fint loan Works



  1. Visit the Fint official website
  2. Click on "borrow" if you want to obtain a loan
  3. Click on "get started" and then"borrower"
  4. Click on "register" to create an account
  5. Take the risk assessment test
  6. Accept it's terms and conditions
  7. Deposit the sum of N3,000 in other for Fint to scale through your credit history and confirm your address
  8. Upload some documents such as your bank details, BVN and so on
  9. Select any amount of funds you choose to borrow (Minimum N20,000 and maximum N1 million)
  10. Receive your funds within 24 hours of being accepted directly to your bank account.

Note

Through the national credit agency and the Fint in-house proprietary risk algorithm, your application will be screened. This screening is what the company uses to determine your risk, interest rate and also know if you will be permitted for the loan you apply for.

  • Requirements: valid bank details, ID card, salary account or bank statement
  • Loan tenure: 3 months - 12 months
  • Interest rate: 2% -5% per month
  • Multiple loans at a time: No
  • Top-up: Yes
  • Repayment methods: direct/mobile transfer or cheque.

For more information about fint loan, please click Here

GTBank Quick Credit Loan



The GTBank quick credit is a platform created by GTBank to enable it's salary and non salary holders within the bank to access a loan anytime, anywhere. With the GTBank quick credit, you can borrow up to N5 million if you are a salary account holder and up to N1 million if you are a non salary account holder.

How GTbank quick credit Works


  1. Visit the GTBank quick credit official website or you can request for quick credit instantly by making use of the USSD code methods. So let's concentrate on the USSD code methods
  2. Locate the "contact icon" on your mobile phone
  3. Dial *737*51*51# and send
  4. GTBank will require that you upload your salary account details. Please do so because, this is where your money will be debited and it's also what you will use to pay back the loan you borrowed
  5. Select the amount of funds you choose to borrow (minimum N10,000 and maximum N5 million for salary earners and N1 million for non salary earners
  6. Receive your funds within 24 hours if being accepted directly to your bank account.

Note

GTBank quick credit is available on all GTBank online and mobile banking platforms (internet banking, GTBank mobile app and the GTBank habari app). If for any reason you fail to pay up your loan on time given to you, GTBank will charge a monthly repayment fee of 1%.


  • Requirements: salary earners whose account is domicile in GTBank(if you don't have a salary account with GTBank you can open one now to access the loan) or you must be a worker whose minimum net monthly salary is at least N10,000
  • Loan tenure: 6 months - 12 months
  • Interest rate: 1.5% Per month
  • Multiple loans at a time: 50/50
  • Repayment methods: direct withdrawal from GTBank from the salary account information you provided upon registration

Note

For more information on gtbank quick credit loan please click Here

FairMoney Loan




FairMoney is a licensed online lender that provides online loan in Nigeria instant to meet up urgent cash needs and also allows you to purchase airtime and data.


How fairmoney loan Works



  1. Download the FairMoney app from Google play store
  2. Use your Facebook details to sign in
  3. Answer a few questions
  4. Select the amount of funds you choose to borrow(minimum N1,500 and maximum N150,000)
  5. Confirm your identity to receive a loan
  6. Receive your funds within 24 hours if being accepted directly to your bank account.

Note

Fairmoney allows you to repay your debt on or before your due date with a reduced interest rate

  • Requirements: BVN and your bank details
  • Loan tenure: 1 month - 3 months
  • Interest rate: 5% - 30% per month
  • Multiple loans at a time: No
  • Repayment methods: bank/online transfer or cash deposit.

Note

For more information please visit the Fairmoney official website for more question and answer.


C24 Loan




C24 loan is a financial institution which provides retail loans for consumers in need of quick financial solutions. C24 is focused on delivering services that can be accessed online, from any Internet enable device anywhere within Lagos.


How C24 loan Works



  1. Visit the C24 loan official website
  2. Click on "apply now" to proceed
  3. Fill out a form such as your name, phone number, BVN, bank details, 6 months bank account salary statement and so on
  4. Select the amount of funds you choose to borrow(minimum N5,000 and maximum N5 million)
  5. Receive your funds within 48 hours if being accepted directly to your bank account.

Note

Before you request a loan, you need to be employed for at least 6 months, have a functional salary bank account, have a good credit history and also be over 21 years of age.

  • Requirements: letter of employment, salary bank statement for the last 6 months, utility bills, good credit history
  • Loan tenure: 1 month - 9 months
  • Interest rate: 4% and above
  • Multiple loans at a time: No
  • Top-up: yes
  • Repayment methods: cheque, bank debit/transfer.

Kiakia Loan



Have you heard about the kiakia loan before? Kiakia loan is a Yoruba word, which simply means quick quick in English, is one of the best loan platform in Nigeria that gives you loans of up to N5 million instantly, directly to your bank account which you provided upon registration.

How Kiakia loan Works


Kiakia loan works in the following ways:

  1. Click Here to take you to kiakia loan official homepage
  2. Now, click on the "click to get a loan" icon, a chat box/virtual agent from kiakia will direct/guide you on the process of registration
  3. Fill out a form such as your name, Bank details and so on
  4. Once you completed your registration, you will be directed to a live agent from kiakia to further determine if you are qualified to receive the loan or not
  5. Receive your loan within 24 hours if being accepted, directly to your bank account.

Requirements: bank details, BVN, valid ID and contact details
Loan tenor: 3 - 6 months
Interest rate: 5.5% and above
Multiple loans at a time: no
Repayment methods: bank/online transfer or any available methods of your choice.

Note

For more information about the Kiakia loan, please click Here


Conclusion

Online loan in Nigeria is a financial instrument that helps people to meet its financial needs and wants. So know that you have gathered an insight knowledge on my top 10 money lending platforms in Nigeria, what are you waiting for? Rush now and secure your future.

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