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
Top 10 best online loan lending Platforms that offers quick loans without collateral in Nigeria
1. 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
- Visit the Specta official website
- Scroll down and click on “start your journey”
- Select any amount of money you choose to borrow(minimum N2,000 and maximum N5 million)
- Click on “start application” below the loan and fill out a form such as your name, bank details, bvn and date of birth
- 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
2. 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
- Download the Branch app from Google play store
- Click on “the sign-up” or “create an account” button
- Fill out a form such as your name, phone number, bank details etc.
- Click on the “my loan” page in the app
- Select any amount of money you choose to borrow (minimum N1,000 and maximum N200,000)
- Click on the “request this loan” to proceed your request.
- Receive your funds within 24 hours if being accepted directly into your bank account.
- 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.
Also Read: Best Refer And Earn Apps That Pays Cool Cash
3. 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
- Visit the Renmoney official website
- Select any amount of money you choose to borrow (minimum N5,000 and maximum N5 million)
- Fill out a form, such as your name, bank account details, please number and address
- Upload your national ID, international passport, PVC or driver’s license and a bank statement
- Accept the terms and conditions
- Receive your funds within 24 hours if being accepted, directly to your bank account.
- 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.
4. Carbon
How Carbon Loan Works
- Download the Carbon (Paylater) app from Google play store
- Click on the” registration” button to register
- Fill out a form such as your name, email, date of birth and phone number.
- Click on “finish” and a page will open where you can accept it’s terms and conditions
- Create your 4 digit pin
- Login to your carbon account
- Complete your profile, such as your employment status, monthly income and your bank details and click on “save”.
- Choose any amount of money you wish to borrow. (minimum N5,000 and maximum N1 million)
- Receive your funds within 24 hours if being accepted, directly to your bank account.
- 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.
5. Aella credit Loan
How Aellacredit Works
- Download the Aella credit from Google play store
- Click on the “registration” button
- Fill out a form, such as your name, email and phone number
- Choose any amount of money you wish to borrow (minimum N1,500 and maximum N90,000)
- Receive your funds within 24 hours if being accepted directly to your bank account.
- 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.
6. 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
- Visit the Fint official website
- Click on “borrow” if you want to obtain a loan
- Click on “get started” and then”borrower”
- Click on “register” to create an account
- Take the risk assessment test
- Accept it’s terms and conditions
- Deposit the sum of N3,000 in other for Fint to scale through your credit history and confirm your address
- Upload some documents such as your bank details, BVN and so on
- Select any amount of funds you choose to borrow (Minimum N20,000 and maximum N1 million)
- Receive your funds within 24 hours of being accepted directly to your bank account.
- 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.
7. Gtbank Quick Credit Loan
How GTbank quick credit Works
- 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
- Locate the “contact icon” on your mobile phone
- Dial *737*51*51# and send
- 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
- 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
- Receive your funds within 24 hours if being accepted directly to your bank account.
- 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
8. 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
- Download the FairMoney app from Google play store
- Use your Facebook details to sign in
- Answer a few questions
- Select the amount of funds you choose to borrow(minimum N1,500 and maximum N150,000)
- Confirm your identity to receive a loan
- Receive your funds within 24 hours if being accepted directly to your bank account.
- 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.
9. 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
- Visit the C24 loan official website
- Click on “apply now” to proceed
- Fill out a form such as your name, phone number, BVN, bank details, 6 months bank account salary statement and so on
- Select the amount of funds you choose to borrow(minimum N5,000 and maximum N5 million)
- Receive your funds within 48 hours if being accepted directly to your bank account.
- 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.
10. Kiakia Loan
How Kiakia loan Works
- Click Here to take you to kiakia loan official homepage
- 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
- Fill out a form such as your name, Bank details and so on
- 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
- Receive your loan within 24 hours if being accepted, directly to your bank account.
Note
For more information about the Kiakia loan, please click Here