Banking & Finance

Best Places To Borrow Money Online In Nigeria

Written by Abe Cherian

Find the 10 best places to borrow money online instantly in Nigeria in this article if you need an urgent loan with or without collateral. These days, the procedures for getting loans in Nigeria banks is very tedious. In order to Get an individual or personal loans in Nigeria, especially banks might look very impossible.

So, if you are in dire need of a loan either to start up a business or for something else, we will show you the best ways to get a loan in Nigeria without collateral. Most of the methods described here are quickest ways to get loans in Nigeria today.

The repayment time frame for these lenders extends from 14 days to a half year, depending on the provider. The greatest sum one can get at first is reliant on the given information and the requested money will easily get transferred without further delay.

borrow money online instantly in nigeria

Borrow Money Online instantly in Nigeria – (Apps & Websites).

The following are the list of best places to borrow money online almost instantly in Nigeria with or without collateral.

1. PayLater.

To get an individual loan from PayLater, all you need is an Android phone, internet connection and legitimate bank details of interest. PayLater claims that clients that repay on-time approach higher credit limits.

There is an approval charge of ₦100 on the first loan. To further increase your chances of getting a loan from them, make sure you are above 21 years and try to recharge your phone and pay bills using the PayLater mobile application. Additionally, give them your accurate information and banking details to earn their trust and don’t cut corners.

Some of the requirements include your bank details and BVN number. The interest rate starts from 15% to 40%, depending on credit rating; while the duration period is from 15 days to 30 days. To repay the borrowed loan, you can pay back through your Debit Card, Quickteller, and direct transfer. borrow money online instantly in Nigeria with Paylater

2. Aella Credit.

The Aella Credit is another legitimate place to get an instant loan in Nigeria. Aella is an online money lender and they have two credit options. One is in-network which is for those whose company is registered on the platform and this group stands a better chance and they promised high loan amount at lower interest rate while the out of network is for those whose company is not registered but they are seeking for Nigeria instant loan.

Here is the part of the requirements for the loan. Valid bank details, BVN, and employer registration (for in-network loans) and details of next of kin. You also need an Android phone, and the interest rate ranges from 20% – 27% for out of network loan.

The repayment method is through Debit card and the duration period is for one month.

3. SnapCredit.

Here is another place to get loans instantly in Nigeria; SnapCredit. The SnapCredit fills in as a medium for managers who would prefer not to give loans to their employees, by furnishing workers with moment access to cash with no printed material.

One remarkable advantage of SnapCredit is that it permits you to take another loan even with a running loan. However, you can’t obtain beyond your salary. The Monthly loan repayments are deducted from your salary.

4. KwikCash by 9mobile.

The procedures of borrowing begin with *561#, from a 9mobile line. You can access up to ₦100,000 loan and you will get the loan in 3 minutes. If you are pondering what happens when you port to another Network, you can pay by utilizing any of the accessible instalment channels.

There is a system charge of ₦20 per credit. The repayment method includes ATM, debit card, and direct transfer/deposit. kwikcash instant loan

5. KiaKia.

The KiaKia method is one of the best ways to get a quick loan in Nigeria because it is very easy and stresses free because they guide you on the procedures registration using a chatbot. In Kiakia, you can also choose as a lender and make profits as well. Kiakia, as the name implies is one of the best platforms to get loans instantly in Nigeria irrespective of your location.

To obtain a personal loan from them, you must have your work identity card and their interest start from 7% – 30%. You can make repayment through Debit card or direct transfer.

Related: How to apply for a World Bank loan

6. FINT.

FINT is really a great place to borrow money online instantly in Nigeria since it works like a commercial centre that matches lenders with trustworthy borrowers. The minimum amount given out is ₦60,000 and the loan fee depends on borrower’s risk score.

A Tax Identification Number (TIN) is asked for on enlistment, which suggests that you can’t get to the administration if you are not a taxpayer. You will likewise need to pay ₦3,000 as risk appraisal token. The requirements are Valid bank details, valid ID card, and your bank statements.

7. FairMoney.

To borrow money online with FairMoney, you need to send a selfie demonstrating you holding an ID card. Different necessities include a letter of business or organization that you are independently employed.

There’s a 50 Naira charge to confirm the debit card related to the connected account. You additionally give points of interest of your closest relative. Your Facebook account, bank details and proof of employment is also part of the requirements.

8. QuickCheck.

Applying for a loan on QuickCheck require that you have a steady means of income, choosing work status alternatives like understudy, jobless or resigned as your business status. What’s more, aside from getting the loan, you can also buy airtime on the app. Borrow money online on QuickCheck

To successfully register on QuickCheck, you need Facebook account, valid and active phone number, bank details and source of income.

Related: How to obtain a loan from Bank of America

9. Branch.

Branch makes utilization of some data on your smartphone to make decisions if you are fit for the loan. This includes handset details, SMS logs, call logs and contact list, Facebook account and BVN. Loans on Branch are repaid in four weeks.

10. SharpSharp by Credit Direct.

SharpSharp as the name reads, provide quick Loan to individuals, salary earners and entrepreneurs. The duration of this loan can last up to a Year. Asides the physical documents, you also need a guarantor, and personal bank details.

Read these:

These are the best and collateral free platform or places to borrow money online instantly in Nigeria.

Join us on Facebook | Twitter for updates.

About the author

Abe Cherian

Abe Cherian is the founder and CEO of