Are you in need of a quick loan? And have you ever wonder what are the available loan sites in Nigeria? Then this article has all your answers. In this article, we have made available for you top loan sites in Nigeria and how you can apply from the comfort of your home.
Top 15 Loan Sites in Nigeria to get a Loan
During times like this, we need quick money without having to go through the complicated process which most banks or lending schemes put one through before getting loans. And to avoid the spread of the pandemic disease, an avenue has been made online to get a loan.
Below are the top 15 loan sites in Nigeria to get a loan;
- ALAT
- PAYLATER
- AELLA-CREDIT
- ZEDVANCE
- SMEDAN
- QUICKCHECK
- FINT
- C24
- SMEDAN
- PAYLATER
- KIAKIA.CO
- FAST CREDIT
- SPECTA
- ONE-FI
- LYDIA.COM
These loan sites can be suitable for a variety of purposes either for personal or business; they can be accessed by anyone, as a student, employee, business owner, or self-employed. Now, let’s show you how to apply.
1. ALAT
ALAT is Nigeria’s first fully digital bank. It is a subsidiary of Wema Bank Nigeria. With ALAT you don’t need to go through the process of opening an account in a commercial bank but you can operate it like a bank account as you would even be given a Debit Card linked to your ALAT account.
To know more visit: ALAT
2. PAYLATER
PAYLATER is an android based quick loans and lending platform in Nigeria. Once you download the PAYLATER app and install it from Google Playstore, you would be charged a 100 naira validation fee when registering.
The more you repay the loans you get on time, the higher the credit limit you can get. You would need to provide bank details and BVN that are valid.
The interest rate ranges from 5% to 30% and loan tenure ranges from 15 days to 6 months. To repay loans, you can use your Debit Card, Quickteller platform, or direct transfer from your bank account.
3. AELLA-CREDIT
Aella Credit is also another android based quick loan platform. Once you download the Aella Credit app and install it from Google Playstore, you would be charged a 30 naira validation fee when registering.
It caters to both registered (in-network) and unregistered (out-of-network) companies on the platform. You get higher loans with lesser interest rates if you are in-network though.
The interest rate ranges from 20% to 27% and loan tenure 1 month. To repay loans, you have to use your Debit Card.
4. ZEDVANCE
ZEDVANCE is a web-based quick loan platform. Just log on and register to the ZEDVANCE website.
The interest rate starts from 7.5% and loan tenure ranges from 1 month TO 12 months. To repay loans, you have to use your Debit Card, bank deposit, or cheques.
5. SMEDAN
SMEDAN is actually supported by the Nigerian government and its aim is to give business loans to Nigerian-owned small and medium scale enterprises (SME) in need of finance. It is aimed at assisting entrepreneurs in Nigeria.
To apply and know more, visit the SMEDAN ONLINE APPLICATION.
6. QUICKCHECK
Download the QuickCheck app and install it on your android device or visit the QuickCheck website. The interest rate is 1% daily and loan tenure ranges from 5 days to 30 days.
You are required by QuickCheck to show proof of source of income and also choosing an employment status. You can get loans or buy phone airtime with the QuickCheck app. Also provide your Facebook account, bank details, and mobile phone number.
To repay the loan, you have to use a Debit Card or Direct Deposit.
7. FINT
FINT is ranked as part of the 4000 highest-ranking websites on Google Nigeria. You can lend or borrow money on the FINT platform.
First, you would have to register with what is called the FINT risk assessment with is tagged at 3,000 naira, which would make you eligible to apply for a loan on the platform.
Keep in mind that you can loan between 60,000 to 2,000,000 naira on the platform. You would have to repay the loan depending on the agreement in 3, 6, or 12 months which are fixed terms with interest rates as low as 2% every month.
Also, note that you would have to pay 8% of the loan you seek before it would be disbursed. It is called a commitment fee.
Visit the FINT PORTAL.
8. C24
On C24, you don’t need to provide collaterals, just bank details, and a few other documents such as a national ID card, employment proof, bank statement, passport photograph, and a direct debit mandate to them in person.
Visit C24. The interest rate is from 4% and the loan tenure ranges from 1 to 19 months. To repay loans, you have to use your Debit Card or direct deposit.
9. SMEDAN
Last on the list is SMEDAN, a government-backed initiative to offers quick and easy business loans to Nigerian SME’s businesses in need of financing.
The core mission of the organization is to promote entrepreneurship among Nigerians and also provide capital to start the business.
Aside from funding, SMEDAN also provides business owners with hands-on training and support to help them run their business. If you would like to apply, click here to access their online application portal.
10. PAYLATER
Paylater is an easy and entirely online lending platform that provides short-term loans to individuals and small businesses in Nigeria to help cover unexpected expenses or urgent cash needs.
With Paylater, you can access up to 500,000 Naira loans with no collateral. Once your application is approved, funds are typically received within 1 – 3 business days. Making on-time repayments can grant you access to higher credit limits for your next loan.
11. KIAKIA.CO
KiaKia is a digital money lender for Nigerian businesses. KiaKia utilizes psychometry, big-data, machine learning and digital forensics for its proprietary credit scoring and credit risk assessment algorithm to provide direct and peered personal and business loans to millions of individuals and SMEs without credit information.
The name KiaKia was derived from a Nigerian language which means “Fast Fast”. According to them, the solution is very simple and fast, but highly effective and efficient.
12. FAST CREDIT
FastCredit offers business loans to micro, small and medium enterprises to support business growth. The loans are backed by guarantors and are for a maximum tenor of 6 months for business owners that meet the criteria.
Aside from business loans, they also offer simple and fast ‘all-purpose’ cash loans to employees of corporates such as the banks, TELCOs, Insurance/other financial institutions, FMCGs, Pharmaceuticals, Aviation, Oil, and Gas employees, etc to enable them urgently meet their consumer needs.
13. SPECTA
Specta is an online lending platform that gives you loans of up to 5 Million in one transaction all within 5 minutes! No collateral, no paperwork, and no visit to any office. With Specta, you can take care of urgent personal and business needs anywhere, anytime.
Specta has 2 loan products, MySpecta which offers individual loan services and Specta4Business which provide quick and accessible loan for corporates and business owners.
14. ONE-FI
Formerly known as One Credit, OneFi is a credit facility company that offers short-term consumer loans to credit-worthy individuals with limited access to finance.
One-Fi loan repayment cycle is typically between 3 – 6 months, with loan amounts up to N200,000 or more.
15. LYDIA.COM
Lidya is an online platform that provides businesses access to finance. The platform offers small and medium-sized businesses with unsecured loans of between $500 and $15,000.
According to the founders, “Lidya uses technology and algorithms to assess the risk before granting the loans, it allows them to offer financial products to these customers at a low cost.”
With the above list of the best loan sites in Nigeria, we believe getting a loan won’t be difficult for you. Why not subscribe for other information about financial supports, you can as well share with your friends by clicking the share button on this website.
StudentsandScholarship Team.
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