This post will walk us through 10 different platforms to get Instant Loans in Nigeria. However, back in the day getting a loan is something else, but we thank God today for the recent technology that is spreading like wildfire. Which comes with the opportunity for us to get Instant Loans in Nigeria.

Currently, there are lots of companies in Nigeria ready to give out loans with reasonable interest rates and without physical collateral. I only limit the list to TEN for better understanding.

What do you need to Get a Loan?

Getting a Loan on almost all the platforms does not require physical verification, and most of the time, what they need is just your Bank Verification Number (BVN).

These platforms can issue loans from as low as 1,000 naira to millions of naira. If you have a business opportunity you want to invest in, pick the lending platform suitable for your demand.

In addition, if you have personal expenses you seriously need to take care of, then these are the platforms you need to look out for.

Based on the technology advancement, most of the loan platforms come in the form of an app YEA. that’s it. Once you know the platform that meets your demand, download the app, register, and request for a loan. As easy as that.

The different platforms available to get instant loans in Nigeria are

1. AB Microfinance Bank

The first platform we will be talking about in how to get instant loans in Nigeria is the AB Microfinance Bank.

What makes them unique is the fact that they focus more on loans for businesses. You also have the opportunity to obtain a huge loan of up to ₦20,000,000. However, the loans are easy to pay out and within 48 hours. Do not forget this loan is meant for businesses and not for an emergency.

In short, just evidence that your business has been in existence within the stipulated period on your documents.

Another opportunity you have is that you don’t have to open an account with the bank before you can use this service.

Moreover, need to tell you that you need at least a guarantor before the loan can be processed. Finally, all you need for proof of identification is a valid ID card and proof of business ownership shikena.

2. ALAT by WEMA

Another loan platform we will be discussing on how to obtain instant Loans in Nigeria is the ALAT by WEMA. It has been saving thousands of Nigerians with its loan opportunities.

This particular company happens to be Nigeria’s first fully operative digital bank. With ALAT, you can do all your banking transactions without being physically present at a bank.

However, they are allowing everyone to apply for a loan without paperwork or visitation to any physical address. Moreover, you get a response for the loan to be disbursed to you in no time once you have been accepted in the system.

For you to be accepted by the system, they will have to run a quick credit check upon request for a loan.

3. branch

branch is also a lending platform we will be discussing on how to obtain instant loans in Nigeria. Engages in delivering world-class financial services to the mobile generation. That is, you can simply get the loan you had wanted on your mobile phone.

However, you do not need Computer or paper works. Just your mobile phone and you are good to go. In emerging markets across the universe, the middle-class thing is at a fast rate. And so they will always need fair, reliable financial services and capital just for them to step up their game.

With smartphone growth at an all-time high, the branch has the best opportunity to build customer-first financial products for everyone. It is designed to fit everyone’s needs and help to grow financially. The more you build credit with the branch, the more you unlock larger loan amounts.

4. creditville Limited

creditville Limited an asset management company. Also, a private lending platform registered in Nigeria, which focuses on Consumer Finance, Real Estate, And Capital Markets.

Their customer base involves employed individuals and SMEs all over the country. They operate as a viable institution and base their services and operations on global best practices. This is one you have to look out for in the post on how to get instant loans in Nigeria

5. FINT

FINT is Nigeria’s first loan platform and that’s why it was able to make it to the list of how to get instant Loans in Nigeria.

It is a loan platform that matches lenders looking for competitive returns with credit-worthy borrowers, both sides looking for the most attractive interest rates possible.

This company is fully automated which makes it transparent and simple to use. Furthermore, It is a loan platform that ensures that the borrowing needs of individuals are met quickly and efficiently. Connecting lenders and borrowers on this platform will be a win-win situation for both parties.

6. Kwikmoney

Kwikmoney will always be available if you need money to start your small business or you need to handle an emergency. You can get a loan from as little as ₦10,000 to ₦200,000 direct to your bank account and with no hassle. The repayment plan normally is between 14-30 days, and an interest rate starts from 10%. Furthermore, taking a loan and paying back will give you a high advantage on the platform because you are building your trust with the system and which can give birth to a higher loan as time goes by. No collateral and hassle-free.

In addition, to participate in the savings platform, you have to do is open an instant mobile account in a bank or microfinance bank and you will be earning a 10% annual interest rate. However, interest is paid daily so you can see your investment growing every day. This can also make your loan opportunity rise reasonably.

7. Lmoney

Lmoney is also a lending platform we want to let you know about how to get instant Loans in Nigeria. This particular platform also has its uniqueness which is the fact that it focuses on salary advances and consumer credit platforms. However, they provide a range of credit facilities to corporate professionals in Nigeria. Wholly owned and operated by Lubeck Capital Ltd, a registered Micro Finance Institution in Nigeria.

8. Paylater

Paylater is another online lending platform we will be talking about in the post on how to get instant Loans in Nigeria. Restricted to Nigerians alone, and they help cover unexpected expenses or capital.

However, there is no time you can not apply for a loan in Paylater, whether morning, afternoon, night, or even midnight, you can go ahead and apply for a loan, and with their quick application process, you will be able to know your status whether qualified for a loan or not. Furthermore, Paylater does not require any collateral or paperwork, all you have to do is just to download their app on your mobile phone, register, and apply for a loan.

9. Pettycash

Pettycash focuses on petty loans. However, they are not up for a big amount of loan they only want to issue little to cater to your petty kinds of stuff. Furthermore, they have customers all over d states in Nigeria, though no physical office but they claimed they have enough employees dedicated to helping their customers borrow funds, one of the big advantages of technology. That way, they can make a list of how to get instant loans in Nigeria.

10. renmoney

In the same vein, this is another platform on how to get instant loans in Nigeria. Renmoney is a financial institution that is available in giving out loans with no collateral. However, renmoney is giving out loans in case you need money to pay rent, cover school fees or buy a new car. Also, renmoney offers loans of up to 4,000,000 Naira conveniently spread over 12 months, at a flexible repayment pattern. And of course, the goal is to make life easier by providing simple, flexible loans made available for everyone.

Furthermore, the reasons you should go for renmoney are because;

They are fast, simple, and convenient
You don’t need collateral or a guarantor
It also includes a flexible repayment plan
The interest rate is competitive...

Kindly read the full article from the source. From the full article, you will get to know how each of them works. You will also get to know how to log in to their various website for the loan application and so other things you need to know to get a loan... https://www.moshinfohub.com/best-loan-app-in-nigeria-2023-for-personal-use/

What of DBN loan?

CHARLOE:
What of DBN loan?

. I can't include everything. I just dish out just 10.

OomaJ19:
. I can't include everything. I just dish out just 10.

. I know. Kudos. Dbn loan is an FG initiative for smes; low interest, long tenure. But d designated banks refuse to give entrepreneurs d loan . If we don't talk n fight for it d banks will keep it for business

Thanks for letting me know about this. I will sure make research on this...

CHARLOE:
. I know. Kudos. Dbn loan is an FG initiative for smes; low interest, long tenure. But d designated banks refuse to give entrepreneurs d loan . If we don't talk n fight for it d banks will keep it for business

Op which one have you gotten a loan from??

OomaJ19:
Thanks for letting me know about this. I will sure make research on this...

Pls do. I've been to most of d designated banks n they denied knowledge of it, except fidelity and LAPO mfb. Fidelity asked for landed property as collateral (which is not supposed to be a prerequisite according to d fg) and LAPO said i must collect their loan 1st b4 i'll be ellgible to apply for DBN loan

Intresting

What about CBN LOAN

everest8899:
What about CBN LOAN

Yes, cbn has more than 1 for smes. We need more info on these loans cos they're meant for entrepreneurs like us The designated banks saddled with d responsibility of disbursing these loans are sitting on these monies n doing business with it. If we make enough noise they'd be forced to release d money.

GENTLEMEN I BORROWED SOME CASH TO ACQUIRE MY MUSIC STUDIO EQUIPMENTS. EVERYTHING GOING GOOD. I HAD GOOD PATRONAGE BY AIRTISTES N RADIO STATIONS.
BUT EVERYTIN SUDDENLY WENT HAYWIRE WHEN I TRAVELLED TO SCH N RETURNED HOME ONLY TO FIND MY STUDIO HAS BEEN BROKEN INTO N MY EQUIPMENTS STOLEN. ITS SAD. NOW ITS ALMOST TIME TO PAY THE LOAN N I HAVENT BEEN ABLE T6 SAVE UP. PLZ MY NL BROS/SIS I NEED SUPPORT. I NEED A LOAN OF 500K, I WILL PAY BACK IN 8-12MONTHS SO I CAN CLEAR MY PRESENT DEBT N BUY BACK EQUIPMENTS TO START MY MUSIC PRODUCTION BUSINESS COMPANY AGAIN. PLZ HELP!!! IM DEPRESSED.
I HAVE A PLOT OF LAND IN YENAGOA, BAYELSA STATE I CAN USE AS COLLATERAL OR RELL IF I CAN FIND A QUICK BUYER.

IM A MUSIC PRODUCER AND L400 ELECT/ELECT STUDENT.

Youngstar76:
GENTLEMEN I BORROWED SOME CASH TO ACQUIRE MY MUSIC STUDIO EQUIPMENTS. EVERYTHING GOING GOOD. I HAD GOOD PATRONAGE BY AIRTISTES N RADIO STATIONS.
BUT EVERYTIN SUDDENLY WENT HAYWIRE WHEN I TRAVELLED TO SCH N RETURNED HOME ONLY TO FIND MY STUDIO HAS BEEN BROKEN INTO N MY EQUIPMENTS STOLEN. ITS SAD. NOW ITS ALMOST TIME TO PAY THE LOAN N I HAVENT BEEN ABLE T6 SAVE UP. PLZ MY NL BROS/SIS I NEED SUPPORT. I NEED A LOAN OF 500K, I WILL PAY BACK IN 8-12MONTHS SO I CAN CLEAR MY PRESENT DEBT N BUY BACK EQUIPMENTS TO START MY MUSIC PRODUCTION BUSINESS COMPANY AGAIN. PLZ HELP!!! IM DEPRESSED.
I HAVE A PLOT OF LAND IN YENAGOA, BAYELSA STATE I CAN USE AS COLLATERAL OR RELL IF I CAN FIND A QUICK BUYER.

IM A MUSIC PRODUCER AND L400 ELECT/ELECT STUDENT.

Sorry to hear that

Gulher:
AVOID LOANS

Even Dangote collects loans.. Avoid short term, high interest loan!

Youngstar76:
GENTLEMEN I BORROWED SOME CASH TO ACQUIRE MY MUSIC STUDIO EQUIPMENTS. EVERYTHING GOING GOOD. I HAD GOOD PATRONAGE BY AIRTISTES N RADIO STATIONS.
BUT EVERYTIN SUDDENLY WENT HAYWIRE WHEN I TRAVELLED TO SCH N RETURNED HOME ONLY TO FIND MY STUDIO HAS BEEN BROKEN INTO N MY EQUIPMENTS STOLEN. ITS SAD. NOW ITS ALMOST TIME TO PAY THE LOAN N I HAVENT BEEN ABLE T6 SAVE UP. PLZ MY NL BROS/SIS I NEED SUPPORT. I NEED A LOAN OF 500K, I WILL PAY BACK IN 8-12MONTHS SO I CAN CLEAR MY PRESENT DEBT N BUY BACK EQUIPMENTS TO START MY MUSIC PRODUCTION BUSINESS COMPANY AGAIN. PLZ HELP!!! IM DEPRESSED.
I HAVE A PLOT OF LAND IN YENAGOA, BAYELSA STATE I CAN USE AS COLLATERAL OR RELL IF I CAN FIND A QUICK BUYER.

IM A MUSIC PRODUCER AND L400 ELECT/ELECT STUDENT.

Your post is not making sense. How can you leave what you took loan to start and went to school. How then will you raise money to pay back.

Nanorest:


Your post is not making sense. How can you leave what you took loan to start and went to school. How then will you raise money to pay back.

I'm rili sori if it seems my post seem nt make sense sir. its very hard 4 me t6 even focus n type n read b4 postin cuz im real unrtable ryt now.

I SPENT ONLY 1 NYT IN SCH(PH)TO SUBMIT MY IT LETTER. I DNT SLEEP IN MY STUDIO EVEN WHEN IM AROUND. I ALWAYS CLOSE N GO BACK 2 MY HOUSE IN THE NEXT STREET. ITS JST VERY UNFORTUNATE IT HAPPENED D VERY NYT I WASNT AROUND. Police even askf me to pay 7k 4 report n investigation which i paid bt no poritive result till nw on who did d buglary.

Most of them. But I use Branch and ALAT the most...

Mannyemmy:
Op which one have you gotten a loan from??