Top 10 Loan Apps and their USSD Code | Nigeria Loan Apps and USSD Code
The presence of multiple loan apps in the Nigeria internet space has made it easy to gain access to loans now unlike before when the banks demand heaven on earth to grant you a loan now you can request a loan from the comfort of your home without filling a single form or begging a manager and what is more interesting is the fact that phones without internet connection can also be used to apply for a loan through USSD code and all the applicant only need is to know the loan company USSD code to get started.
In this post, we have listed 10 loan apps and their USSD codes, try them out if you need a loan now and let us know the result.
- Fairmoney – USSD Code *322*2#
Fairmoney loan app is one of the easiest lending processes and impresses customer service. Its amounts vary from ₦1,500 to ₦1,000,000 with repayment duration from 61 days to 18 months at a monthly interest proportion that ranges between 2.5% to 30% (APRs from 30% to 260%).
An illustration of FairMoney loan and Interest Rate
- Borrow ₦100,000 over 3months
- Interest (total cost of the loan): ₦30,000 (30% rate)
- Three monthly repayments: ₦43,333
- Total amount payable:₦130,000
- Representative:120% APR.
Payday Loan App (Access Bank) – USSD Code *901*11*1#
Payday loan is a reliable lending platform for customers(salary and non-salary earners). With this loan app, you can borrow money at a very low-interest rate with no collateral, guarantor or paperwork. However, payday loan app does not require a visit to office and the application is done completely online or via USSD *901*11*1#.
Read also: Nigeria Loans
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Alat by Wema – USSD Code *945*100#
Alat by Wema offers easy access to quick cash loans without collateral or paperwork. Loans are accessible to all Alat customers through Alat app or website. You can borrow as much as N2 million without collateral.
*945* is the authorized USSD code for Alat by Wema bank. You can simply carry out daily transactions without the internet connection on your phone.
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Carbon Loan App – USSD Code *1303#
Carbon loan app formerly known as Paylater is a lending platform that lends instant cash to borrowers immediately after their application is ratified. It does not need a guarantor or collateral. You may not be able to access large funds on your first try. Start by borrowing small, and repaying at due time, then you can have access to larger funds. This loan platform is available at all times.
With the USSD code *1303#, customers on (MTN and 9mobile) will now be eligible to transit quickly in the absence of an internet connection.
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Kiakia Loan App – USSD Code | Loan Apps and their USSD Code
KiaKia is an AI-powered marketplace that utilises non-traditional data to perform credit scoring to enable individuals and small businesses to access capital. The platform also provides individual lenders the opportunity to securely lend out funds to borrowers and earn income on interests.
At the moment, Kiakia loan doesn’t have a USSD loan application option or an active loan app rather you can apply using their website https://kiakia.co/ and click on the get a loan option on the website. Note that you must meet these requirements to be eligible;
- An applicant must be resident in Nigeria
- An applicant must be above 21 years of age
- An applicant must possess a Bank Verification Number (BVN) and be an account holder with any of the mainstream commercial banks in Nigeria.
- An applicant must have evidence of verified source(s) of income (employed in the public/private sector or runs his/her own business)
- An applicant must provide a valid means of Identification (Work ID for employed applicant, and Government-issued ID for self-employed) applicant
- An applicant must provide proof of income (sms or email screenshots of monthly income alerts or electronic bank statement (in Pdf format) for the 6 most recent months)
- Alternatively, an applicant can authorize KiaKia to view his/her bank transactions by connecting his/her bank account to the Mr. K software ONLY for the purpose of obtaining bank transaction details.
To successfully submit a loan application, this is how you have to go about it –
- Create an account by providing all required details
- Start an application chat
- Upload work ID or government-issued ID
- Enter the desired loan amount
- Select duration/tenure
- Upload Screenshot of SMS alerts or PDF statement of your last 3 salaries or Business income
- Accept loan terms and conditions (IF APPROVED)
- Authenticate your submitted bank accounts
- Get credited
The interest rate for the loan is from 6.5 percent and above and the amount you can get depends on your income level.
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Migo Loan App – USSD Code *561#
Migo formerly known as kwikcash is a cloud-based digital lender in Nigeria that gives you access to instant loans, access to buy from merchants or withdrawal money without the use of smartphones and hardware.
Interest Rate:
This platform doesn’t have a permanent interest rate but they offer interest rates varying from 5% to 25%. Every rate is based on the payback record and duration of the loan term.
Once a customer’s repayment record is motivating, then the interest rate may be lessened, and the opportunity of getting another loan and the loan amount advances.
Okash (Opay Loan) – USSD Code *955#
Okash loan preciously known as Opay loan is a loan service from Opay company. This loan service has been around for some years now and is tested and trusted by several Nigerians. The platform offers quick and easy payment of the loan and is also flexible. You can read my complete review regarding the loan here.
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Renmoney Loan App – USSD Code *723*73001#
Renmoney is an app operated by a group of technology and finance devotees who are enthusiastic about making monetary inclusion count in the country. Renmoney loan USSD code is *723*73001#. It is one of the simplest ways to access cash from Renmony.
Renmoney loan app annual percentage can entice up to 33.9% interest rate but this percentage can decrease if the money is repaid within 3-6 months.
Read also: Paycentre Loan
GTWORLD (QuickCredit) – USSD Code *737*51*51#
With Gtworld, you have a Mobile Banking and Quick Loan App that is constructed to provide all that is important to you. Nevertheless, to enjoy its benefits, you first have to open an account with the GTBank. Another way of applying for this loan without a Mobile app or internet connection is by using the USSD code. Take the following step:
- Dial *737*51*51#
- Confirm if you are qualified or not then apply for Quick Credit loan.
Tradermoni – USSD Code *540#
TraderMoni is a government enterprise and empowerment program (GEEP) Initiative built to improve the Nigerian economy through influence and access to funds for petty traders. It is also organized to assist petty traders to broaden their business through the requirement of collateral-free loans of N10,000.
With this scheme, beneficiaries can get higher capacities ranging from N15,000 to N50,000 when they pay back N10,000 within the scheduled time.
Read also: Dotpay Loan
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Specta Loan App – USSD Code *822#
In partnership with Sterling Bank, Specta is an online lending app that gives you loans of up to 5 million in one transaction without collateral, and no visit to any office with zero paperwork!!.
With Specta, you can sort urgent personal and business necessities anytime and anywhere you find yourself. The specta4individuals package is extremely custom-made for accessing an individual loan of up to N5 million without collateral in 5 minutes
Read also: CBN NIRSAL Non-Interest Targeted Facility Loan
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Lapo Microfinance Bank – USSD Code *371# | Loan Apps and their USSD Code
Lapo loan app is a nationwide financial institution. Their headquarters is located in Edo state and they have branches all over Nigeria with thousands of beneficiaries. It strives to lessen poverty which is done by entrusting low-income persons economically through accessibility to sustainable monetary services.
Lapo provides an unsecured loan of up to NGN500,000 for small enterprises and NGN5,000,000 for moderate-scale enterprises.
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