Are you looking for new loan apps in Nigeria 2023 that require no collateral and low-interest rates at the convenience of your workplace or in your home? You can find brand new loan apps in Nigeria that have low interest.
With loan apps online, getting a loan for business emergencies, health problems, and other unforeseeable problems is now simple with the ease of repayment plan, no paperwork, low-interest rates, and speedy disbursement.
If you do not have an emergency fund and you’re having difficulty making enough money to live, don’t panic that you’re not the only one.
If you need cash, explore other options to obtain it, such as the instant online loan that can be paid back promptly.
In one of our earlier articles on borrowing funds online within Nigeria, we have explained the six steps you can follow to receive cash from any of the top applications in Nigeria which will be discussed shortly.
One of the most important essential takes is to make use of fast online loan platforms, as with one of the new loan apps in Nigeria
These platforms will provide you with cash right away even in the absence of collateral or any job.
You’ll need a smartphone (phone tablet, smartphone, etc.) to access the loan applications I’ll show you in this list.
There will be no huge documents. All you need is a phone to receive your money. Below are the top 10 new loan apps in Nigeria.
1. Kuda Loan
Kuda banks operate as the Wema Bank, the first bank access bank, and many other banks in Nigeria.
KudaBank is a financial institution that operates solely online and performs financial transactions with a banking license from the Central Bank of Nigeria.
How To Get Kuda Loan.
Kuda Bank provides loans to its active customers. If you’re a member of the Kuda Bank mobile app you can receive a loan fast.
With Kuda Bank, it is possible to get instant short-term loans without the need to fill out any documents.
You can also choose to repay them anytime, with only 0.3 percent interest per day.
If you’re ready then here’s how you can apply for an Kuda loan.
- Go to Google Play Store, and type in “Kuda bank”
- Install and open the Kuda application, and then swipe into the account that you borrowed.
- Click on loan.
- Then click on Get your Overdraft.
- Next, press the button to continue.
- Enter the amount you would like to borrow, then hit the submit button.
- It will ask you to type in your personal identification number.
- Verify your transaction’s PIN.
- You can also use Face, or fingerprint to confirm the transaction.
- Click OK.
- Transfer your funds to any financial institution.
2. Blocka Cash
Blocka Cash gives loans that are easy to obtain in Nigeria. Blocka Cash is available through both the Android app store as well as the Apple App Store.
You can get short-term loans through Blocka starting at N5,000, and up to N50,000, depending upon your credit rating.
The conditions of eligibility for a Blocka cash loan are:
- The minimum age for you to apply is at the bare minimum of 21 years old.
- You may be required to show the Government with a valid ID
- Rate of interest of 3 per month, of 10 percent per month
- Annual Percentage Rate (APR): 36% to 120%.
- A loan’s term: 60-180 days
- Payment channels for Repayment: Credit Card, Quickteller, and direct transfer
Migo was previously known as Kwikmoney. Migo is now a very well-known loan business in Nigeria. It is possible to get mobile loans in Nigeria that can be as high as NN500,000 withMigo within a matter of moments in Nigeria. More than N40 billion Naira is lent to Migo. The rate of interest for the Mogo loans is between 5 percent to 15 percent.
Migo loan requirement
Here are the requirements to obtain a loan from Migo
- Bank account
- Bank Verification Number (BVN)
- An active phone number
- You must be at least 18 years old
- You must have used your phone number regularly for at least 90 days.
- Your account number must be active for at least 90 days.
- An account must be opened at one of the following banks: First Bank Access Bank Diamond Bank First City Monument Bank (FCMB), United Bank For Africa UBA Stanbic Bank Wema Bank Zenith Bank Guaranty Trust Bank(GTB), Polaris Bank Fidelity Bank Heritage Bank Union Bank Unity Bank
How to get a loan with Migo (Kwikmoney).
These steps will help you get a loan at Migo.
1. Call *561#
To access your mobile phone, dial *561# You can also dial *561# to check your credit score.
2. Choose loans
There are many options. You can choose to get a loan.
3. Request a loan
Next, choose Request Loan from the Options
4. Do not wait for a loan offer
Accept the loan offer and provide your account details to receive your loan.
You can also use their website to request the mobile code if you don’t want to use it. You can’t continue if you have already used the code. These steps are intended for those who prefer to complete it online rather than by phone.
5. Visit the Migo loan portal
This is the step for those who don’t want to use the website but code. Visit the loan portal
6. Enter your phone number
To continue, enter your phone number. A captcha may be necessary to confirm that you are real.
7. Verification complete
An email code will be sent directly to your phone. To verify your phone number, enter the code on the website.
8. Check out our selection of loan offers
Click on the check loan offer you want to view and then click Continue to see all available offers
9. Please enter your account number.
Next, click Proceed and provide all information.
10. Get your loan!
The loan should arrive within a few minutes. Most often, within a few minutes
Lidya loans offer you the possibility to expand your business, and also generate income. The platform offers credit based on the amount of cash through your bank account and without collateral. Lidya provides credit to businesses of $5,000 and $500.
- Requirements: Be the owner of a company.
- Platform: Web
- Interest Rate Undetermined (The company claims they’re affordable)
- The loan’s tenure is based on the amount of the loan
- Multiple loans at once There is no limit to the number of loans you can take at a time.
- Payment channel: Debit Card, Direct Deposit.
To access the loan, you can download the app to access the loan on Playstore, create your account, go to the Financial Services section, then select “Loans” to request the loan in a short time.
Details are displayed on the website: pay.jumia.com.ng/services/loans.
Whatever your profession or banking institution, you can take advantage of an amount of loan up to N5 million to cover your financial requirements.
The app is available from the Playstore and offers other exciting packages available for users. For more information on Specta loans, check out our review on Specta.
Specta Loan Requirements
The Specta loan option you select will determine the conditions, but generalgenerallyg you’ll require
- The bank’s account number(sometimes they only accept sterling accounts)
- Bank Verification Number
- A valid method for identification
- valid email address
How to Apply for a Specta Loan
For an application to get a Specta loan Follow these steps
Request to be profiled in the person of an individual or company via email at Specta
- Choose the loan option that you feel is the best fit for your needs.
- Start the fill-in process by selecting the loan offer
- Complete the application form and send it in
- If you’re eligible and your application is approved the bank will debit your account immediately.
7. Kredi Loan
Credit loans provide financial assistance for both businesses and individuals to ensure the smooth running of their businesses. This Kredi loan is split into four segments. The sections are in the following order:
A. Kredi SME (Small and Medium-sized Enterprises) loan with this product, you can obtain an investment loan for your business without collateral. This loan can be used to help you start or grow, rescue, or expand your business.
B. Kredi Nano-Loan: Nano loans are short-term, low-cost loans that allow you to save money whenever you require it. Simply put, regardless of whether you receive a wage or otherwise, this service can be used to get access as NGN 100,000.
c. Kredi Salary-Backed Loan: This loan is only for salaried persons. You can get as much as N5 million over a repayment time of 18 months if you choose to take out an unsecured loan backed by salary.
D. Kredi’s collateral-backed loan: These loans come with collateral as security. Customers are also able to get immediate loans from banks without putting any collateral.
How can how do I submit a Kredi loan?
Follow the steps below to apply for an advance loan from Kredi:
- Install the Kredi app on your phone.
- Register an account by filling in the application’s registration form.
8. Abella’s credit
It is possible to download the app via Playstore (Android), App Store (iOS), or go to Aella for more details.
9 .FFEINTFINT is a loan market matching lender that is looking for returns that are competitive for creditworthy borrowers (individual as well as commercial loans) seeking the highest interest rates.
FINT is the most reputable credit market in Nigeria. It connects lenders seeking higher returns to good credit borrowers who are looking for short-term personal loans as well as business loans.
Fint offers easy, inexpensive, and fast loans that are affordable, quick, and easy to get. You can get loans of between N20,000 and N1,000,000 in fixed terms of 3, 6, or 12 months. Repay principal and interest every month and get low-interest rates (as low as 2% per month). No collateral required
10. C24 Limited
C24 Limited is a microfinance institution, which was founded to give people a chance to realize their potential by assisting them to access fast credit when they require it.
C24 is similar in its service to Zedvance in that personal loans are accessible for employees who have employers that have accepted their employees’ loan applications. The loan typically doesn’t require any security and is usually completed very quickly, however in certain instances, the repayment conditions may be more flexible than those of personal loans.