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Unsecured Loans In Nigeria: Share Your Experience by Nobody: 9:31am On Jan 18, 2018
An unsecured loan is a loan that is issued and supported only by the borrower's creditworthiness, rather than by any type of collateral. An unsecured loan is one that is obtained without the use of property as collateral for the loan, and it is also called a signature loan or a personal loan.

To clear the air, unsecured loan providers are not specially cut out for salary earners as most claim.

The essence of this thread is to know how many there are, knowing full well that new unsecured loan providers are springing up with each passing. When sharing your experience, please include below detail;

1. Registration process
2. Website/app (loan provider's platform)
3. Loan approval timeline
4. Interest Rate, etc...

I'd be starting with mine.

PS: I don't work with any of these providers, neither am I an agent. My reviews are solely based on user experience.

2 Likes

Re: Unsecured Loans In Nigeria: Share Your Experience by Nobody: 9:32am On Jan 18, 2018
Paylater: Based on user experience, Paylater is the best thing to happen to loan facility in Nigeria. I was denied the first time I tried for over four months! Lol! It was frustrating until I reviewed my details and changed my GTB account on their app to my FBN's. GTB misspelled my name which in turn didn't match my BVN details. My loan was approved in less than five minutes and I was credited in less than 20 minutes!

Registration process
Too simple! Common details about you, your BVN and bank account!

Website/app (loan provider's platform)
APP

Loan approval timeline
Normally, Paylater would say within 24 hours, but the crediting doesn't take up to on hour!

Interest Rate
For less amounts with lesser tenors, the rate is usually lower compared to fair sums with tenors such as six months. For example, I once got a loan of N45,000, to pay back N65,250 in six months time, meaning I pay N10,875 monthly for a period of six months. Fair but high, if you ask me

2 Likes

Re: Unsecured Loans In Nigeria: Share Your Experience by Nobody: 9:47am On Jan 18, 2018
QuickCheck: They say Quickcheck is similar to Paylater but my experience with them has not been good. Reviews on their Playstore page aren't so good either. Sadly, I have never been able to secure a loan with these guys no matter how hard I try.

Registration process
Simple and almost the same as the aforementioned

Website/app (loan provider's platform)
APP

Loan approval timeline
They take forever to approve loans and when they respond, chances of having your application declined are quite high

Interest Rate
?

Lalasticlala

3 Likes

Re: Unsecured Loans In Nigeria: Share Your Experience by Nobody: 9:56am On Jan 18, 2018
Aella Credit: These guys are new and they pretty much trying to get in the game. The app is pretty much simple to use but after paying off your first loan, you just might not get higher than what you got the first time. For example, I applied for a 6500 loan, paid back with the interest and my next available loan amount was pegged at 6,500 despite paying before due date.

Registration process
Simple and almost the same as the aforementioned

Website/app (loan provider's platform)
APP

Loan approval timeline
Quite fair. Mostly between an hour

Interest Rate
Almost the same as Paylater

1 Like 1 Share

Re: Unsecured Loans In Nigeria: Share Your Experience by Nobody: 10:07am On Jan 18, 2018
This is just about the only three that I have tried. I am aware there are more such as, FairMoney, RenMoney (only for people within Lagos), StartCredit, Zedvance, PayConnect, c24 and a host of others. If you have tried them, kindly share your user experience.

Mynd44
Dominique
Lalasticlala
Re: Unsecured Loans In Nigeria: Share Your Experience by lakeside4fire: 11:55am On Apr 23, 2018
Hello DearPeople,

Please can I send you an email regarding this? Thank you.

DearPeople:
An unsecured loan is a loan that is issued and supported only by the borrower's creditworthiness, rather than by any type of collateral. An unsecured loan is one that is obtained without the use of property as collateral for the loan, and it is also called a signature loan or a personal loan.

To clear the air, unsecured loan providers are not specially cut out for salary earners as most claim.

The essence of this thread is to know how many there are, knowing full well that new unsecured loan providers are springing up with each passing. When sharing your experience, please include below detail;

1. Registration process
2. Website/app (loan provider's platform)
3. Loan approval timeline
4. Interest Rate, etc...

I'd be starting with mine.

PS: I don't work with any of these providers, neither am I an agent. My reviews are solely based on user experience.
Re: Unsecured Loans In Nigeria: Share Your Experience by markbenny(m): 5:30pm On Apr 23, 2018
great post
Re: Unsecured Loans In Nigeria: Share Your Experience by SHOPPERS(m): 9:56pm On Apr 23, 2018
Paylater is easy to get approved on especially if you craft your details in a smart manner.

My main issue is with their interest. They force you to take loans for longer periods just to get you to pay higher interests.

Got 10k twice, paid back 11.5k

Now, 20k, they forcing me to pay for 2 months in 14k installments which makes it 28k at last .

That's 8k interest instead of the 3k I paid for the two previous ones.

Like you said, it's just too high.

Anyone with defaulting stories?

will share mine later.
Re: Unsecured Loans In Nigeria: Share Your Experience by Nobody: 10:58pm On Apr 23, 2018
lakeside4fire:
Hello DearPeople,

Please can I send you an email regarding this? Thank you.

Replied...
Re: Unsecured Loans In Nigeria: Share Your Experience by Nobody: 11:05pm On Apr 23, 2018
SHOPPERS:
Paylater is easy to get approved on especially if you craft your details in a smart manner.

My main issue is with their interest. They force you to take loans for longer periods just to get you to pay higher interests.

Got 10k twice, paid back 11.5k

Now, 20k, they forcing me to pay for 2 months in 14k installments which makes it 28k at last .

That's 8k interest instead of the 3k I paid for the two previous ones.

Like you said, it's just too high.

Anyone with defaulting stories?

will share mine later.
You're right about Paylater. However, I have never defaulted before. Don't know what it feels like. Would love to hear your story.
Re: Unsecured Loans In Nigeria: Share Your Experience by tundeport(m): 12:58am On Apr 24, 2018
Pls I want to rent a new apartment and am family man with two kids,i need a loan for it,to be pay weekly,which loan facility do l apply with,i need it urgently pls advise me,am uber driver working within Lagos city
Re: Unsecured Loans In Nigeria: Share Your Experience by SC1738: 10:12pm On Jun 26, 2018
Please ensure you check the interest rates on available loans for your requirement on www.startcredits.com before you take out any loans.

2 Likes

Re: Unsecured Loans In Nigeria: Share Your Experience by philipopo: 1:27pm On Oct 07, 2018
Please can any one help with the office address of fair money at Yaba. It's very urgent
plsssss
Re: Unsecured Loans In Nigeria: Share Your Experience by GradesGate: 7:41pm On Nov 18, 2018
Get soft loan from N5,000 to N200,000.

Location:Lagos

Email:loanenquiries@gradesgate.com.ng
Whatsapp:08097111171
Phone number : 08097111171.

N.B: It is ONLY for salary earners who has a verifiable source of income.
Re: Unsecured Loans In Nigeria: Share Your Experience by VivaciousEva: 12:38pm On Nov 29, 2018
T
Re: Unsecured Loans In Nigeria: Share Your Experience by NaijaPress: 9:21am On Sep 11, 2019
There are some online loan companies, but I am not sure if it is exactly what you're looking for...
https://www.businessplanreviews.com.ng/account-for-a-loan-customers-account/
Re: Unsecured Loans In Nigeria: Share Your Experience by Chrisaba50: 6:05pm On May 24, 2020
FOR ANYONE BASED IN ABUJA WITH NEEDS FOR SERIOUS CASH OF now now LOAN, AND YOU HAVE GOOD COLLATERAL Such as; CARS, EMPTY HOUSES, BIKE, KEKE NAPEP etc. Interest is 17% per month.CALL 09014306565.
Re: Unsecured Loans In Nigeria: Share Your Experience by Sirpluv: 7:09pm On May 24, 2020
Earn ₦ 1500 and get a fast, affordable loan with Branch! Get the Branch app: https://branch.co/download/av71cg. Be sure to enter my promo code av71cg to get ₦ 1500 in credit after repaying your first loan.
https:///2wQBKHp

Once you register use av71cg as your promotional code

Here is how it work once you register in the first place , You will be given a loan of #N1200 don't be afraid you are safe just click apply Wait for like 5minutes you will be credited with N1000 from Bre..... Then now you need to repay back immediately by adding N200 to that N1000 making it N1200 then repay the N1200 once you repay Your first loan Your Account will be Activated immediately , " you will get a message saying you can now refer your friend and earn N1500 "

The only investment you made is *N200* just to activate your account

Don't be afraid I said you are safe you have nothing to worry about

https:///2wQBKHp

Don't forget to use

av71cg as your promotional code

Feel free to ask Questions


Your Account bust be Activated before you refer if you refer your account is not activated you will lost your referral bonus it wouldn't appear
Re: Unsecured Loans In Nigeria: Share Your Experience by abelee(m): 7:57pm On May 24, 2020
I've tried Palm Credit and I would say their service is top notch but due to this Covid-19 situation and the fact so many people are defaulting, they are selective in granting new customers
Re: Unsecured Loans In Nigeria: Share Your Experience by lucrocash(m): 3:57pm On Jul 30, 2020
Actually, the greatest fraudulent loan app in Nigeria is Haloocredit, owned by HalooDigitals Nigeria Limited.
Once you collect loan from the app, they will make sure you are unable to pay on due date and start calling you to make transfer to their account. After payment, your loan wont be cleared and they will start you will be debited several times without end.
Also, if you dont use the account, they will start blackmailing you. These guys should be investigated and arrested by efcc.
Nigeria is hard enough, these guys shouldn't be allowed to exist.
Funny thing, no address, no phone number, no social media account, nothing.
They are worse than devil.
See the reviews on different app downloading sites to see the different bad experiences people have with them on playstore
https://play.google.com/store/apps/details?id=com.ng.haloocredit&hl=en and on appannie
[url]https://www.appannie.com/en/apps/google-play/app/com.ng.haloocredit/#:~:text=This%20is%20the%20worst%20credit,I%20didn't%20warn%20you.&text=This%20is%20the%20worst%20app%20ever[/url].
Re: Unsecured Loans In Nigeria: Share Your Experience by wholachy: 10:32am On Aug 26, 2020
Are you a salary earner?
Do you work and live in Lagos?

If the answers to the above is yes!
Here's great news for you.

WholachyPay gives loans to salary earners within Lagos without collateral nor guarantor.
No prior account opening nor savings.

You don't even have to stress yourself down to the office for processing as every everything can be done online via our website, email or Watsapp.
Now isn't that fantastic?

Wait no further, Visit our website to apply online @www.wholachypay.com. You can also call or Watsapp on 08084616992 or 08062227821..
Email: info@wholachypay.com

Getting Loans has never been this easy!

Re: Unsecured Loans In Nigeria: Share Your Experience by Timibabaj(m): 9:33am On Jul 07, 2021
Loan apps in Nigeria have been playing a major role in our lives lately especially when you consider what the current economy looks like these days.

An average working-class person in the country today desires a loan to solve one problem or the other, at least, once in 6 months. This is why the lending business is going to keep booming for a very long time.

Most of these lenders do not care about you. In fact, they hide a lot of things from you from the onset. All they want to do is to capture you in that desperate situation and take advantage of you.

By the time you're supposed to repay the loan you start getting deductions you never bargained for.

But did you know that there's a website where you can see EVERY LEGIT LOAN COMPANY. What this website does is that it will help you compare all the loan companies in Nigeria using the requirements you provide. And within 2 seconds, you'll see a list of companies that match exactly what you want.

Let's say, for instance, you earn 50k monthly. You know that it'll be difficult to find a legit company that'll be willing to grant you a loan without wrecking you with interest rates. But once you visit LoanSpot Africa, you can conveniently choose who you want to get a loan from.

YOU CAN VISIT THE WEBSITE HERE TO COMPARE LOAN INTEREST RATES FROM OVER 100 DIFFERENT LOAN COMPANIES IN NIGERIA
An unsecured loan is a loan that is issued and supported only by the borrower's creditworthiness, rather than by any type of collateral. An unsecured loan is one that is obtained without the use of property as collateral for the loan, and it is also called a signature loan or a personal loan.

To clear the air, unsecured loan providers are not specially cut out for salary earners as most claim.

The essence of this thread is to know how many there are, knowing full well that new unsecured loan providers are springing up with each passing. When sharing your experience, please include below detail;

1. Registration process
2. Website/app (loan provider's platform)
3. Loan approval timeline
4. Interest Rate, etc...

I'd be starting with mine.

PS: I don't work with any of these providers, neither am I an agent. My reviews are solely based on user experience.
Re: Unsecured Loans In Nigeria: Share Your Experience by veektahh: 5:16pm On Jun 21, 2022
Get soft loan from N5,000 to N100,000 at a very low interest rate

Location:Lagos

Email:veektahh@gmail.com
Whatsapp:08034171788
Phone number : 09070042521.

N.B: It is ONLY for salary earners who have verifiable source of income.

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