7 Online Lending Platforms in Nigeria -No 5 is the easy to use


7 Online Lending Platforms in Nigeria -No 5 is the easiest

Do you know there are online lending platforms you can get a loan from apart from traditional banks, without any collateral?. It has become a known fact that the Nigerian economy has been ravaged by the Covid-19 pandemic, which has led to an increase in the interest rate of banks which give out loans to customers.

As such this has made it difficult for people to get a loan at the bank due to its high-interest rate and prolonged paperwork. Fortunately, you can now get a loan from several loan platforms in Nigeria without any collateral and with a very low-interest rate. This article presents you with examples of these loan platforms.

7. C24 loan

C24 is an online lending platform in Nigeria that provides retail loans for those in need finance immediately to solve their issues. The minimum amount that can be loaned out on C24 platform is N40, 000 while the maximum amount is N750, 000, for new users. The maximum for existing users or customers is N1, 000, 000.
To be eligible to get a loan from C24 loan platform, there are certain requirements you must meet which are:
• A valid national ID (Drivers License, International Passport, National Voter’s Card)
• An employment letter to certify that you are an employee or have a sustainable means of income.
• Passport photograph.
• 6 months bank account statement.
• Company Identification.
• Direct Debit Mandate.
The interest rate for C24 loans ranges from 12% to 60%.

Also Read: Top 10 Trusted Investment Platforms In Nigeria And How To Choose a Platform For Yourself

6. KiaKia loan

Kia Kia a loan platform that issues out loans at a very convenient interest rate. It also connects lenders to borrowers at a mutually agreed rate. The loans offered by Kia Kia ending platform ranges from N10, 000 to N200, 000 for seven days, minimum, and a maximum duration of thirty days.

Those who are diligent in paying back their loans, and on-time happen to gain access to higher amounts at a longer tenure with more flexible interest rates. If you are looking for an unsecured personal consumer loan, Kia Kia loan is best for you. It is also suitable for people who are not eligible for bank loans and also experiencing financial difficulties.

It is very easy to apply for Kia Kia loan, just follow the steps below;
• Login to the website and create an account with your accurate details
• Upload a valid means of identification
• Start an application chat on the site
• Enter your desired loan amount
• Choose the duration of the loan
• Upload a screenshot of your last 3 salary or business income alerts
• Agree with the terms and conditions of the loan, if your application is approved
• Authenticate your bank account
• Get credited

5. Opay or Okash loan

Popularly known as Okash loan, Opay loan is an online loan platform that provides loan for individuals who are ineligible for bank loans. Okash loan decisions are made of 15 seconds, and within 5 minutes, the applicant receives the needed loan after it has been approved. For new users, the initial amount to borrow is N10000.
The interest rates of okash loan are as follows: 15% for 15 days, 17.6% for 22 days and 23.2% for 29 days.
To apply for Okash loan follow the steps below;
• Download the Okash loan app from Google Playstore.
• Carried out the necessary registration process to completion as soon as the app is installed.
• Login, tap on the menu located at the top left of the app, click on ‘Promo code’ , then enter the code ACEXKN and click on ‘Apply Code’.
• Return to the menu and apply for your loan.

4. Renmoney

Are you looking for a lending platform that gives loan up to 6 million naira for micro-business, in Nigeria? Renmoney is that platform. To be eligible for Renmoney loan, one must have constant monthly earnings so as to be able to pack in when it’s time.

For business owners, they must have a good income statement history. The interest rate of Renmoney loan platform is 2.8% with a minimum loan amount of N100, 000. It does not require any collateral, the guarantor has a flexible loan tenure etc.
To be eligible to get a loan from Renmoney ;

• Applicant have a steady source of income that is verifiable.
• Must be confirmed staff in present employment.
• Have a functional saving or current bank account.
• •Must have a valid means of identification – International Passport, Driver’s License, National ID Card.
• You must have a clean Credit Bureau Report.
• You must not have a history of returned cheques in your account.
• One recent passport photograph (within the last 6 months
• Be between ages 22 – 59 years.
• Salary bank statement for the last 6 months (must be stamped by the bank).
• Utility Bill (PHCN, Water bill, OR Rent Agreement)
• Applicant must live and or work in Lagos State.

3. Branch

Branch is another top loan platform in Nigeria that allows people to get loans from N1000 to N200, 000 within 24hiurs, with an interest rate ranging from 15%-34%. It does not require a collateral to be eligible to get a loan from the branch.
To get a loan from the branch, the following procedures must be followed;
• First download the app from Google play store.
• Open an account with a branch through the downloaded app and fill the online form and submit for review.
• Apply for a loan.
• Receive the loan into your account.

2. FairMoney

FairMoney is a Licensed credit app that offers quick loan to meet necessities such as bill payments. You will need your bank verification number and debit card to get a loan (from 2,500 to 150,000.). The loan interest for FairMoney starts at 5% and can be up to 28% depending on the borrowing. It also has a duration of 4 to 26 weeks. If you repay your loan with FairMoney before the due date, you will be paying back at a reduced interest rate.
To apply for a loan,
• Download the FairMoney app from Google Play Store
• Create an account with the phone number linked to your BVN
• Answer a few questions and confirm your identity to receive a loan offer. If you accept it, you will receive your loan instantly in your preferred bank account!

1.Cabon (Paylater)

Formerly (and popularly) known as PayLater, Carbon Loan is an instant online loan app that allows you to access a loan in Nigeria in minutes. The 3-year-old loan app prides itself on its “simple digital finance management platform, ” providing instant online loans to meet urgent and unexpected cash needs. The platform accesses your bank verification number (BVN) to determine your credit value. The loan amount is up to N 20 million, while the interest rates vary.
Carbon is available online and in mobile apps (Android and iOS). Their interest rates are between 5 and 15%. It depends on the term of the loan repayment and the amount of money you want to borrow. In addition to being one of the top lending companies in Nigeria, Carbon also provides a platform for customers to top up airtime, transfer money and pay bills.
To apply ;
• First, download the cabon app from Google play store.
• Create and account.
• Register to provide all the details. Name, phone number, email, etc
• Upload your photo before you can access loans. The picture can be taken directly from the App
• Click on the “Request a Loan” button
• Wait for your loan approval. This usually takes only a few minutes
• After loan approval, you accept the offer and provide your card details. Usually, the duration of the loan ranges from 30 days to 12 months


The high-interest rate and long paperwork, as well as the inclusion of collateral before one is eligible to get loan from banks, have made it difficult and in so cases impossible to get a loan from banks.

As such you can agree that the above listed online loan 9latforms have come in handy, and they have made it easier for one to get a loan without any collateral with low-interest rates. So if you ever have any financial challenge and need to get a loan, you can choose from any of the various lending platforms listed in this article.

IGBAJI U.C.https://igbajiugabi.com
Igbaji Ugabi Chinwendu, from Cross River State, Nigeria. As a Business Educator, he is profoundly interested in teaching and managing business. Started blogging 2010 and officially 2013. He holds the esteemed positions of Chief Executive Officer (CEO) and Director at Freemanbiz Communication and Writers King LTD, demonstrating his leadership and expertise in the field.


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