Abraham OlalekeTaking a loan online has never been easier! Thanks to the endless supply of online financial platforms you can access loans as up to ₦500,000 without stress–talk about amazing. With everything going in the economy right now you must have this type of information because you never know when you might need it. In this article, I’ll be giving you a detailed list of places you can get online loans, their interest rates and their requirements.
Page Financials
If you’re looking to get an urgent loan in less than 3 hours Page Financials is a great place to start. They disburse loans in less than 3 hours after applying!
Page Financial Loan Requirements:
Here are all the requirements needed to get a loan from Page Financials:
- Earn a monthly salary (minimum 100k monthly)
- Submit your bank statement of up to 6-months
- Live/work in Lagos or Ibadan (bankers across Nigeria can apply)
- You need a passport photograph
- A copy of your work ID from or evidence of employment
- Submit your BVN
Page Loan Interest Rate
The following is how much interest Page Finacial collects on all loans disbursed;
- Interest rate (3.76%) – Charged Flat Per Month.
- Management fee (0%)
Specta
With Specta you can get loans of up to 5 Million in one transaction all within 5 minutes without collateral, no paperwork or a visit to their office. They offer different packages based on your employment, how much you need. They include SpectaXtreme, SpectaBasic, SpectaPrime, SpectaAllawee and Specta Quick Cash.
Specta Loan Requirements
Unlike other banks or loan companies, Specta does not require you to provide collaterals or paperwork to get your loan approved and disbursed. Once your application is complete, they’ll score it and disburse within 5 Minutes.
Specta Loan Interest Rate
Specta’s loan interest rate ranges between 25.5%-28.5%. Other charges include a one-off payment for Insurance: 2.5%, one-off payment of Management fees: 1%, Repayment Period: 1-12months and Penalty fee- 1%.
Kwaba
Unlike the others, Kwaba’s main focus is rental finance. They help Nigerians in Lagos, Port Hacourt & Abuja to pay their house rent in convenient instalments. Instead of paying 1 to 2 years rent in advance, you can spread your rent payment over 6 to 12 months.
Kwaba Loan Requirements
To get a loan from Kwaba, you must:
- Be above 21 years old
- Earn above 50 k salary
- Have a good credit history
- Submit all necessary identification i.e employment letter, utility bill, bank statement
Kwaba’s Interest Rate
On each loan, Kwaba collects a total of 3.9% interest.
Carbon
Carbon is an instant online loan app that gives you instant access to loans in Nigeria. Apart from disbursing loans they also provide their customers with the opportunity to recharge airtime, transfer funds, and pay bills.
Carbon Loan Requirements
Heere’s what you need to qualify for a Carbon loan;
- Download and use the Carbon app
- Provide your basic details such as name, phone numbers and more
- Take a photo of you which you may have to snap real-time with your phone via the app
- Bank Verification Number (BVN)
- Bank account details
- Your ATM card details
- A government-issued ID
Carbon Interest Rate
Their rates range from 5 – 15%, and this depends on the loan repayment period and the amount of money you wish to borrow.
Aella Credit
Aella Credit is an app-only platform for getting quick online loans in Nigeria. It is designed to help employees access more funds between 1,500 to 700,000. Its loan tenure spans between 1 to 2 months.
Aella Loan Requirement
To qualify for a loan from Allela, you need;
- Bank Verification Number (BVN).
- Basic information including your name, phone number and email.
- Your bank account details.
- A photo of you. This will be taken in real time.
- Your employee ID card.
Aella Interest Rate
Their The monthly interest rate varies from 4% – 29%. The loan tenor is from 30 to 60 days to pay back.
QuickCheck
QuickCheck provides up to NGN 500,000 instant loan online in minutes in Nigeria. However, if you are a first time user, you would only be able to access up to N10,000 for a period of 30 days.
QuickCheck Loan Requirement
Here are QuickCheck’s loan requirements;
- Bank account details
- Bank Verification Number (BVN)
- Good credit score
- ATM card
- Basic personal information
- Employment details
- You must be an adult
QuickCheck Interest Rate
QuickCheck’s interest rates range from 2% – 30%, with an equivalent monthly interest rate of 1 – 21%. Their repayment terms state that early repayment of loans guarantees lower interest rates and higher amounts. Additionally, interest on loans is only paid for the number of days you use the loan.
Jumia One
Jumia One is a branch of Jumia that gives loans to users across Nigeria. Applicants receive funds within 24 hours a day to 7 days. The loans are dispensed via an Android mobile app, with lending decisions provided almost instantly. The normal amount for new loaners is N10k
Jumia One Loan Requirements
These are the requirements that make you eligible for a Jumia One loan:
- Your bank details
- Bank verification number
- A mobile phone with an internet connection
- The Jumia One app
- Your application
Jumia One Loan Interest Rate
At Jumia One the interest rate is between 28% – 31%
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[…] and how you pay back your loan depends on on the agreement you had with your lender. Read; 7 Places You Can Get Online Loans in Nigeria Loans can be secured or unsecured. A secured loan is when an individual puts down an asset such […]