5 Loan App In Nigeria With One Month Duration – Forum / / General / Business / 11 Fast Loan Apps for Individuals and Business Owners in Nigeria (75717 views)
The best way to avoid the hassle of loan applications/loan apps
5 Loan App In Nigeria With One Month Duration
Top 11 Quick Loan Apps in Nigeria for Individuals and Business Owners by TechGuideHub: April 07, 2019 at 6:03 pm
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In this guide, we have compiled a comprehensive list of the best online loan applications/sites for accessing personal and business loans in Nigeria.
As an individual, there may be situations where you need extra cash to settle certain bills. Often times, business owners may need additional funds for some of the urgent financial needs of their business.
In situations like these, accessing quick and easy affordable loans can be a lifesaver, especially when all other means of getting the money you need have failed.
Considering that Nigerian banks are difficult and time-consuming for individuals who want to get a small loan as quickly as possible, instant online loans come to the rescue.
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This is beneficial for employees looking for a quick loan to complete a project as quickly as possible or for a small business owner looking for additional capital.
Online lending platforms/startups created by the Nigerian fintech industry are making it easy for individuals and business owners to access quick loans when they need them.
If you are looking for the best online loan apps for Nigerians so you can apply for quick loans without much stress, you have come to the right place.
Pelator provides short-term instant and easily accessible loans to individuals and small business owners to meet their urgent financial needs.
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Individuals and business owners can access up to ₦1,000,000 without collateral. You can easily apply for an instant loan at any time and get the money in your bank account in a few minutes.
By repaying your loan on time, you can unlock higher loan amounts and lower interest rates.
An additional benefit of using the Paylater loan app is the ability to track your personal expenses with Paylater’s financial manager. Isn’t it amazing?
The Paylator Loan app is only available on Android smartphone devices. You can download the app from the Google Play Store using the link below.
Of The Best Loan Apps In Nigeria
This is where you fill out the Paylator app with your personal information, such as your full name, date of birth, gender, email address, phone number and bank account details. Your application will be processed immediately.
After review and approval of your application, you will receive the money within 5 minutes.
You should pay off the loan on or before the due date to increase your chances of getting higher loan limits and lower interest rates for subsequent loans.
PalmCredit is one of the best loan apps for Nigerians that works as a virtual credit card, making it easy for individuals and small business owners to access instant loans anytime, anywhere.
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The PalmCredit loan app currently offers instant cash loans up to a loan limit of ₦100,000. Now, they offer fast-accessible “NANO Cash Loans” “Airtime Loans” ₦2,000 – ₦20,000, ₦1,000 – ₦10,000.
Your interest rate will depend on the repayment term of the loan you choose. Currently, available loan repayment terms are 14, 21 and 28 days, respectively 12%, 18% and 28%.
The faster you pay off your overdue loans, the more you save on fees. Also, your credit score will be updated, increasing your loan limit for future loan purchases.
The PalmCredit Loan application is only available on Android smartphones. You can download the app from the Google Play Store using the link below.
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Branch is another mobile loan app for Nigerians that allows you to easily get instant loans without any collateral or hidden fees. You can get a quick loan for your immediate financial needs.
The branch offers quick loans from ₦1,000 to ₦200,000. And loan terms vary from 4 to 64 weeks. Depending on the loan option chosen, interest rates range from 14% to 28%, with an equivalent monthly interest of 1% to 21%.
Determining the exact interest rate for your loan depends on critical factors, including your repayment history and the value of the loan to the branch.
The branch loan application is only available on Android smartphone devices. You can download the app from the Google Play Store using the link below.
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This is where you create your account with your personal information and submit it for a quick review.
Ella Credit has a strong focus on lending and empowering employees through credit score rating. They help business owners and employees build credit in three steps;
With Aella Credit “No Network Loans”, business owners who pay on time will receive lower interest rates on subsequent loans.
At this point you refer your colleagues to the Aella employee network and get the lowest interest rates
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You can start a small business and get financing with micro trade loans based on your credit score and cash flow.
Aela Credit offers new customers “Out of Network Loans” from ₦1,500 – ₦90,000. The term of the loan is usually 30-60 days and the monthly interest rate is 4%-29%.
The Aella Credit Loan application is only available on Android smartphone devices. You can download the app from the Google Play Store using the link below.
Aella Credit offers employees “network loans” from ₦5,000 to ₦720,000. The term of the loan is usually from 4 to 68 weeks and the monthly interest rate is 1%-14%.
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Download the Aella Credit Loan app today for easy access to instant loans at affordable interest rates.
QuickTeller is a popular and powerful consumer financial digital services platform that provides a fast and convenient way to buy airtime, pay utility bills, and send and receive money.
QuickTeller has now extended its services to unsecured loans. If you are a regular QuickTeller customer, this is your chance to get easily accessible instant loans to meet your immediate financial needs.
Individuals can access up to ₦50,000 without collateral. Loan amount is determined by your QuickTeller transaction history and loans are issued instantly!
Loan For Yourself
Alaat is a powerful platform developed by Wema Bank to act as a digital bank. As a digital bank, you can open an Alat Bank account, save money, earn up to 10% interest, pay bills automatically, transfer funds and issue your ATM card anywhere in Nigeria for free!
One of the main advantages of the Alat app is the ability to apply for an instant loan of up to ₦200,000 without collateral, documentation or visiting any physical location.
QuickCheck is another fintech startup that aims to provide banking services in the form of easily accessible loans to individuals and small business owners.
QuickCheck uses machine learning technology based on current market trends to predict consumer behavior and evaluate loan applications to determine loan limits.
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Loan applications are usually reviewed and approved within 24 hours. Interest rates on approved loans are up to 1% per day.
Individuals and small business owners can get loans up to ₦30,000. However, as a first time user, you can access up to ₦10,000 Naira within 30 days.
Paying off the loan early means a larger amount and a lower interest rate. So when you repay the loan on time and build trust in the system, your loan limit increases for further loans.
The QuickCheck loan application is only available on Android smartphone devices. You can download the app from the Google Play Store using the link below.
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After reviewing your application, you will receive a loan (in the withdrawal queue) within 24 hours of loan confirmation.
FairMoney is a mobile loan application for Nigerians that facilitates access to credit for all your financial needs anytime through your mobile phone.
They offer individuals and small business owners easily accessible short-term loans of up to ₦150,000 with no paperwork, collateral or documents.
Loan amounts range from ₦2,500 to ₦150,000 with a loan term of 4 to 26 weeks and an equivalent monthly interest rate of 5% to 28%.
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Build your credit score and earn rewards, such as access to higher loan amounts or discounts for early repayment.
The FairMoney loan application is only available on Android smartphones. You can download the app from the Google Play Store using the link below.
Kikia is a mobile web application that provides a financial digital service with quick and easy access in the form of short-term loans for individuals and small business owners.
Kikia uses Mr. K, an artificial intelligence virtual agent chatbot, to enable access to personal and small business loans and allow savers to negotiate interest payments through intuitive conversations.
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Mr. K carefully accesses the customer’s application using a credit risk assessment algorithm
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