Loans: Top Opportunity for funding in 2023 (detailed application guide)

Loans, personal loans, loans for unemployed in Nigeria, Kiakia loan, 24hrs loan in Nigeria, USSD code for loans in Nigeria, quick online loans in Nigeria, Renmoney loan. All our main focus for this post is the above list.


A loan is a term used to refer to a sum of money lent to another in exchange for future payment of the principal amount. They may be specific or they are available as an open-ended line of credit up to a specified limit.

In most cases, lenders add finance charges to the principal value, which the borrower will have to pay while refunding the principal finance. This can be secured by the lender, demanding collateral from the borrower to ensure repayment.

They can come in different types or forms and some include: personal, commercial, secured, unsecured. The term is agreed upon by the two parties before the money is been approved.

A lender can be in form of a financial institution, government, or corporation. They can be in form of bonds and certificates of deposit. However, they have levels and major exactly what we will be discussing in this post.


As earlier stated loans are gotten for different purposes and also are higher than each other. It simply means they are divided to meet up your range of needs. Some are high in figures while others aren’t.

Some are also long in duration while some aren’t, the differences go on and on just depending on what you. Here we are going to discuss the personal loan. The word ‘personal’ already gives in an insight into what it is and does.

A personal loan is a money you borrow for any purpose personally, for instance, the money you borrow for a vacation, new appliance, medical bill, consolidation, or student funds.

Most personal loans are unsecured meaning you don’t need collateral to get them. The personal loan includes interest rates in monthly installments often 2-5 years. So, interest paid for this is called an annual percentage rate, the average APR for personal loans is 9.41% (June 2019) although depending on your creditworthiness as it could range from 6% to 36%.


Important steps are to be taken if you wish to qualify for a personal loan. Qualification for a personal loan is the step you need to take to obtain a personal loan if that’s your goal, however getting this. You have to go through some personal and un-personal major steps to qualify.

What do you need

This should be the most important step to be taken seriously, before getting a personal loan decide what you need them for and actually circulate if your income would cover the interest before the estimated time.

Getting a personal loan for that vacation or a new home or some other things would be decided before making personal loan steps.

Decide how much you want to borrow

How much are you going to get? Should be a question only your income should answer. Getting a personal loan would get tricky since it doesn’t require collateral, hence you might get carried away to borrow higher than your income.

The goal is to pay up when the interest rate is still at 0% but if not achieved, you definitely pay up at the estimated time perhaps when the interest rates are low. Always borrow for what is necessary or what you actually need, because there is actually no need of paying interest on what you don’t need.

Likewise, don’t borrow below what you need, make calculations on what you need and its money value then goes for it. So long as it fits into your finance, you shouldn’t borrow below because you would still need to turn to more expensive options for help. You know what this option can do to your finance.

Credit check

You know that the higher your credit worth, the higher you are approved for a better one with good interest rates. Check your credit scores as well as ensure to update your credit report from each of the major credit report agencies: Transunion, Experian, and Equifax before applying. These simple states are known as soft inquiries comparing to the hard inquiry the lender will embark on regarding your credit status if you fail to do them yourself.

Preparing your credit report should be easy as many credit card companies provide free monthly credit card score from or more of the major credit reporting agencies. Also, there are available online vendors that could easily prepare your credit report.

Know your rights

Personal loans are part of the protection under the law made by the Federal Reserve board implemented regulation Z which in turn gave birth to the truth in lending act (TILA). The law is designed to protect consumers while making financial transactions. The regulation is currently under the auspices of the Consumer Financial Protection Bureau.

The lending act requires lenders to disclose the amount financed and total of payments if it’s a closed-end personal loan, monthly payment amount, late fees, the number of payments, if or no penalty for paying off early.

Where to get a personal loan

Personal loans are the most common. Meaning it’s more available than others, however with the lenders’ difference in interest and terms. Some of the places these personal ones are available include:

Banks and credit unions

Non banking financial institutions

Online provider

A private investor

Referral from family or friend

Peer to Peer lending site.


Secured and unsecured

Fixed and variable rate




The rate of unemployment in Nigeria is about 14% of the countries data according to the release of the international labor organization. While the government says the rate could get up to 33.5% by the end of 2020. Unemployed in Nigeria should take measures on this post so they can get a loan and start-off something. Nigeria loan for the unemployed shouldn’t serve as money to pay off other debt rather invest them for profits.

The Nigeria youth investment fund (NYIF) is a program created to fund the youths and their innovations. President of Nigeria Muhammad Buhari had recently approved the sum of 75 billion Naira for Nigeria youth investment fund to aid youths unemployed as well develop their skill and craft because youths are the survival for 2020.

Unemployed Nigerians can get a loan in any of the following institutes:

Family, friends and Relatives

The unemployed class in Nigeria could seek out help from these groups of people if they are valuable to them. They could actually seek out funds from these groups and wouldn’t have to pay interest rates like most institutes.

Private individuals

Private money lenders are available to get loans for the unemployed class in Nigeria to source from. Only that their cut-throat interest rates are extremely high up to 25% or more. These particular sources shouldn’t be the best option for an unemployed in Nigeria else at a desperate state but still not advised. Unemployed in Nigeria should this form of loan easier if you have a communication

Lending institutions

Finance houses, banks, insurance companies, and financial corporations will aid you as an unemployed class in Nigeria to get a loan although you are been expected to have a particular amount set in your account. The interest rate for most lending institutions ranges up to 9-15%. Available loan to unemployed in Nigeria.


Kiakia is an online loan application or platform where a Nigerian can easily get a loan from kiakia. Even a business financed by the sterling bank plc. The platform also allows lenders to lend out funds at a negotiable interest through intuitive conversations. The minimum amount starts at N50, 000 with an interest rate of 3.5% per month.

The kiakia loan online has been in existence for while and they are gaining names for themselves. Kiakia loan is among the most popular online applications out there. But the kiakia loan differs from other ones. As everyone has of the online applications sticks out requirements for its loan. So kiakia loan was not left out.k

This Kiakia’s loan maturity plan starts from 7-30days. Borrowers could get up to N200 000 on the kiakia loan application. You should know kiakia loan is available for 24hrs and you can also get your kiakia loan within 24hrs if steps are followed accordingly.

Accessing the kiakia loan is easy. Loging into the kiakia loan website has made your loan halfway ready. The kiakia loan website has a range of options on its page for the type of loan you need. Kiakia loan helplines are also available in case you need help in any way.


There are reliable organizations that are applications are also available online, where you can easily get a loan within 24hrs in Nigeria. These loan sites in Nigeria have their website open for 24hrs and are willing to serve you. However, these organizations differ from the amount they are willing to offer as well as the days to pay up.

Some these 24hours loan in Nigeria include:


The overdue of this particular organization is 1-12 months, within this period you are expected to repay yours with an interest of course. This offers an amount of N50 000 to N5 000 000 with an interest of 16%. C24 is a 24hrs loan available in Nigeria.


Sokoloan is a 24hrs loan in Nigeria that its application offers borrower’s raging from an amount of N5 000-N100 000. Meanwhile, this has its maturity range from 7-190days for its borrowers. While its interest rate is 4.5%.

Jumai pay

Jumia Pay is also one of the available 24hrs online loan applications in Nigeria. The Jumia pay allows borrowers to borrow up to N1 000-N100 000 courtesy of the Jumai pay. Its interest rate as well as low as 3.5% while its maturity is up to 30days.


Fint grants Nigeria the opportunity to get a loan within 24hrs with an interest rate as low as 2% monthly. The Fint would take care of your personal needs like rent, medical bills school fees although you need to register your business on the Fint employment model.


Popularly known as the okash is a lending application that is owned by the tech giants- opera. We all aware of opay are one of the few reputable companies in Nigeria currently. It has been made so much easier in Nigeria by simply downloading their mobile app and gets started with guidance then within 24hrs? your loan is set. You’re ready.

Palm credit

An online platform owned by new edge finance limited is a reliable plug to obtain a loan in Nigeria within 24hrs without collateral. Accessing palm credit can be done within a few minutes as well as have a low-interest rate. This is obviously why palm credit is popular and reliable.

However, getting a palm credit is only possible through their mobile app. You can easily download their mobile app in the google play store.

Fair money

This particular 24hrs loan in Nigeria on ranges from N1, 500-N500 000 while its interest rate is at 10%. The fair money has its maturity age ranging from 1-3months for interested borrowers.

Zenith bank

Zenith bank is one of the popular lending organizations in Nigeria. This bank offers ranging from N10 000-N5 000 000 with an interest of 9% while the time for repayment ranges from 6-24 months

General requirements for a 24hours online loan in Nigeria

In the past, people had to wait for long like up to days or weeks sometimes months to get theirs. The developing world and technology have made life so much easier and reliable than an average borrower would get an online loan within 24hrs.

Loans for businesses and corporate bodies are not left out in this advantage as they can be able to get an approved loan within 24hrs. For these two parties obtaining these loans is possible only if they could go through the essential requirements and eligibility status.

These loans require to differ slightly for individuals and business or corporate bodies. Some of these requirements for 24hrs loan in Nigeria include:

Individual requirements

Employment letter

Passport photograph


Salary account, pension account or tax ID

Bank verification number (BVN)

Business or cooperate bodies requirements

#Certificate of incorporation

#Memorandum of association

#Suitable guarantor who would guide you all the way through

#Post-dated cheque from the client

#Last six months bank statement of account

# a copy of passport photograph

# means of identification like ID, international passport, national passport, drivers license

24hrs loan in Nigeria is the most popular loan since is the fastest and as well as reliable. Obtaining a 24hrs loan as its name implies will get over within 24hrs including all its documenting procedures and requirements. Moreover, which other types of loan would suit emergencies and accidental occurrence.

USSD code for loan in Nigeria

USSD stands for unstructured supplementary service data.  This code is mostly known as quick code which implies its uses to access options through your mobile telecommunication network provider. Also, these codes can be changed for different things or purposes which include: mobile money, call back services, content, and information, and to provide network configuration services.

In this post, we are to discuss how to bank or specifically secure loans in Nigeria with the USSD codes. Prior to this period, people haven’t considered getting a loan as a good idea mostly because of the stressful process that tags along with it like heading to the bank, filling numerous applications, submitting them, and hopefully waiting on your loan.

Now people don’t even have to do all of that since you could use a USSD code for a loan in Nigeria. And easily get any information you need to get a loan from your favorite loan platform.

USSD codes are codes you use on your mobile phones for financial transactions that don’t even require internet but just your network connectivity. More importantly, you can use your USSD codes to acquire loans in Nigeria. You achieve a load of financial transactions with your USSD code like buying airtime through the bank, making transfers, and a whole lot of financial tractions.

Steps to apply for a loan using the USSD code

Follow these simple and easy steps to get started obtaining your loan using the USSD code in Nigeria. Steps include:

Knowledge of which loan provider you want to borrow from

Know the functional USSD code

Meet the requirements

Dial the USSD code

Follow the instructions

Obtain your loan

Requirements to obtain loans in Nigeria using a USSD code

Obtaining a loan using the USSD code is easy but only if you would meet up requirements to be on the eligibility status. You need to be operating the bank in which you need to get a loan using their USSD code if your choice of loan provider is a bank.

Meanwhile, for an instant loan provider, you don’t need to have an account with them just be able to provide your full name, BVN, account details, and address. However, there might be additional information the loan provider might need you to provide for their own reasons; you need to as well provide them.

Some USSD codes for loan in Nigeria include:
Platform USSD Code for Loans
AB Microfinance Bank *389*755#
Access Bank Payday Loan *901*11#
Accion Microfinance Bank *572*6#
Airtel Quick Cash *561#
ALAT Loan By Wema Bank *945*100
Aledin Nano *903#
Carbon Loan *1303#
Ecobank Xpress *326#
Etisalat *561#
Fairmoney Loan *322*2#
FCMB *329#
First Bank First Advance *894*11# or *894#
Glo Cash *322*1*04225701*Amount#
GTBank Soft Loan (Quick Credit) *737*51*51#
Interswitch *322#
Kwikcash *561#
Migo *561#
MTN Cash *606*4#
Trader Moni *540#
Paga *242#
Payattitude *569#
Quickteller Loan (Airtel, MTN & 9mobile) *322#
Quickteller – Glo Users *805#
Zenith Bank Loan *966#
USSD codes loan available in Nigeria


Online is one of the most effective as well as most used provider. In Nigeria, there are long lists of quick online available for borrowers with their own requirements, loan limits, and maturity period as well.

These could serve personal and business purposes. Some of these online platforms for quick on loans in Nigeria include;

C24 quick online loan in Nigeria

Page quick online loan in Nigeria


Sureloans quick online loan in Nigeria


Renmoney quick online loan in Nigeria


Migo money quick online loan in Nigeria

Go about them and study them to know which fits your earning standards properly. And also you can use them to see why they call them quick online loans in Nigeria.


Renmoney is a company full of financial enthusiasts who really want to make financial inclusion count. The company can be said to have gained a reputation for its self as it can be said to be Nigeria’s leading company in lending and delivering excellent service experiences.

Renmoney offers a range of services such as loans, fixed deposits, and savings. Regarding loans, renmoney offers unsecured cash loans for salary earners and self-employed Nigerians as long as the borrower has a genuine source of income.

Renmoney can offer up to NGN2.5million for a period of 9 months. Although a penalty of N300 is the daily default charge including public holidays and weekends. Constant defaulting will adversely affect the credit rating with the credit bureau agencies which will prevent you from accessing funds with other financial institutes.


All loans have their requirements as well as their eligibility so, renmoney isn’t left out. Renmoney has a list of requirements a borrower should attain before going for a renmoney loan. Some of those requirements or criteria include;

  • Have a stable source of income that is verifiable
  • Get between the ages of 22-59 before applying
  • Must be a confirmed staff in current employment
  • Identification of any form
  • Functional savings or current account
  • A clean credit bureau report
  • Residence as well as work in Lagos state
  • One recent passport within 6 months
  • Salary bank statement for six months stamped by the bank
  • No history of returned cheques to your account
  • Utility bill

Renmoney loans are fast, reliable, and can also be gotten within 24hrs. Borrowers who chose renmoney as a provider should attain their criteria before applying.

How much can Lapo borrow from me?

Now, you may apply online for our SME loans. You have access to a credit facility with a maximum limit of $10,000,000 and a maximum 12-month extension.

Can Kuda borrow a loan?

Just 0.3% daily interest; no paperwork; no embarrassment. As long as you use your Kuda account frequently, you can borrow money for a short period of time using Kuda overdrafts.

Can I get a loan with my BVN?

Your Bank Verification Number (BVN) is required by lenders in order to verify your identification. Since they may utilize the BVN to verify that you are who you claim you are, this gives them a measure of security. However, a BVN by itself cannot be used to enter any bank account, make a payment into, or withdraw money from, any account.

Can loan app blacklist my BVN?

Can my BVN be blocked by loan apps? In other instances, customers have reported that loan applications have threatened to ban their BVN. If you’re asking whether they could actually accomplish that, the answer is no. Only the Central Bank of Nigeria has the authority to block your BVN.

Which bank has the easiest loan approval?

USAA and Wells Fargo are the institutions where obtaining a personal loan is the simplest. Although USAA does not specify a minimum credit score criterion, it says on its website that it accepts applicants with scores in the fair to poor range (below 640). Therefore, even those with poor credit may be eligible.

What happens if you don’t pay Kuda overdraft?

If you don’t pay back the loan by the time it expires on the day you borrow it, we’ll charge you interest. Until you repay the loan, interest will accumulate. We will charge you for all costs related to the legal process if we are compelled to file a lawsuit because you didn’t repay your overdraft.

Does FairMoney ask for BVN?

To confirm your identification and ensure you haven’t defaulted on prior contracts, we ask for your BVN. A Nigerian-French business with European data security requirements is called FairMoney. Your BVN information will never be disclosed to any parties.

Can I get loan in one day?

Personal loans that are disbursed practically quickly after a loan application has been submitted are known as same-day loans. In a few hours after an application has been successfully filed, the majority of lenders offer Same Day Loans. Additionally, some lenders disburse the loan cash in a matter of seconds.


Generally obtaining loans in this period isn’t as hard as prior times. Series of them are made available for borrowers even online for borrowers who can’t take the stress of meeting up physically.

Majority of banks offer. As well as provide USSD codes for easy access. 24hrs loan provides at a go so long as you are able to meet the requirements and eligibility status. Most of the reasons for setting these requirements is to ensure borrowers are actually capable to repay in the agreed time limit.

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