How to Get Instant Loans in Nigeria (2020 updated)

This post will talk about 10 different platforms to get Instant Loans in Nigeria. However, back in the days getting a loan is something else, but we thank God today for the recent technology that is spreading like wildfire. In which they come 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.

On other hand, due to some reasons known to yourself, if you do not give nor take interest then we are sorry as this post isn’t for you.

If you don’t have any problem in taking and giving interest then you are welcome to this wonderful post on how to get Instant Loans in Nigeria.

What do you need to Get Loans?

Getting a loan in almost all the platforms on how to get instant loans in Nigeria do 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.

image of How to Get Instant Loans in Nigeria (2019 updated)

The different platform available to get instant loans in Nigeria includes;

1. AB Microfinance Bank

image of AB Micro-finance 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 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, we need to tell you that you actually 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.

How it works

Step 1. Apply online;
From the website search for the section where you can apply online, you will be asked questions about yourself and the business. Once you are done filling the application form, click on submit and your application will be processed.

Step 2. Welcome In;
Your application verification process starts immediately, after that you will be notified once it has been approved via email and a phone call from their consultant.

Step 3. Money is made obtainable;
After you must have been accepted by the system, you will be credited as soon as possible.

Step 4. Repay your loan;
Get incited on your application, take a few moments to tell a few points about you and your firm.

To know more about their services or to apply for loan kindly click here


Image of 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 giving everyone the opportunity 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.

How it works

Step 1. Login to ALAT website on At the top right-hand corner, there is a section that says Sign up. Click on sign up and you will be taking to another page, you will fill a form in other for the system to recognize you. Submit your form and your account is opened immediately.

Step 2. After successful signup, go under the menu, you will see a section that says Loans. Click on it, read and understand the ALAT disclaimer.

Step 3. After successful credit checks, you will be offered a loan with duration and interest rate based on your current credit score…

Step 4. Read through the offer, if interested, accept the terms and conditions. It will also entail asking your consent to have your account debited in other to repay ur loan at the due date. Then you will be credited immediately.

To know more about their service or to apply for loan kindly click here

3. branch

Image of branch app on the post how to get instant loans in Nigeria

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, 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 branch, the more you unlock larger loan amounts.

Do they charge late fees?

We gathered that they don’t charge late fees or rollover. Also, they don’t put restrictions on how to spend the money gotten from them. Their customer support team is available 24/7.

We believed in the ability of branch based on information gotten from their site that says;

  • They had over 3 million customers
  • The company have been able to issue loans over 15 million time
  • Distribution of money is a total of $350 million.

Going by this information it shows they are really a favorite loan platform to look out for on the list on how to obtain a loan in Nigeria.

How it works.

Step 1. Download the Branch app.
Use your Android phone to download Branch from the Google Play store.

Step 2. Create your account.
Fill out a simple form in under 30 seconds and submit for a quick review.

Step 3. Apply for the loan that meets your needs.
Loans are conveniently sent to your mobile money or bank account in minutes.

Step 4. Receive the loan into your account
Repay with your mobile account. Build your credit to unlock larger loans.

To know more about their services or to apply for loan kindly click HERE

4. creditville Limited

Image of 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 individuals that are employed and SME’s all over the country. They operate as a viable institution and bases its services and operations on global best practices. This is one you have to look out for on the post on how to get instant loans in Nigeria

Creditville Vision

They have a very strong vision that says they want to deliver innovative and value-added services to their customers. In an environment conducive to promote strong organizational values and cultures which makes them attract, nurture and retain talented staff.

In addition, there are two unique things that made Creditville stand out which are;

i. Integrity
It places its integrity high above other things. That’s why their company policies are geared towards fair business guidelines and frown upon exploitations of customers.

ii. Promptness
Creditville actually understands the urgency of your needs and the difference prompt service delivery can make. That is why they work fervently to deliver their services to you in record time without compromising on quality. You can Work with them today so you can step up your game.

In Creditville you have two opportunities that you can engage yourself which are;
~ Payday Loan / Salary Advance
~ Business loan

Payday Loan / Salary Advance is a quick loan purposely for those earning salary. However, it offers a minimum of ₦100,000 and a maximum of ₦4,000,000 and to be settled within 18 months. You also need no single collateral.

A business loan is a business funding product designed for entrepreneurs and self-employed individuals. It enables them to grow their businesses by providing working capital with the minimum amount of ₦200,000 and a maximum of ₦2,000,000 and can be scheduled to be repaid under 6 months and with no collateral.

How to go about it

Step 1. Application:
Carefully go through the requirements for a quick payday loan and if satisfied, fill the payday loan application form adequately and submit to get started.

Step 2. Documentation:
After your payday loan application, you will be contacted by one of their agents to proceed to the documentation stage. The required documents will be submitted for inspection and approval.

Step 3. Disbursement:
Finally, if your documents are in order with their policies, the loan is then approved and your funds disbursed quickly directly to your bank account within 48 hours.

To know more about their service or to apply for loan kindly click here


Image of FINT

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

The fint experience is one of inclusion, empowerment and quality service. In simple terms, fint is a loan platform that merges lenders and borrowers together.

In summary, If you are a Borrower on fint, you can get access to Loans as low as 2% per month. However, no collateral required and loans can be used for personal purposes such as home renovation, rent, to buy land, to get a car, medical expenses, furniture and appliances, business opportunities, education and other essentials you may need.

You have to answer the Risk Assessment, and Investors will fund your loan which can be disbursed when fully funded. They automatically carry out the collection on your behalf and credit straight to your bank account.

For personal loans, the minimum amount you can request is ₦20,000.00 and the maximum is ₦1,000,000.00. I guess that is huge enough to start at least something.

How it works

Step 1. Get Your Fint Score and Verify Your Details
To do that, you need to answer the FINT Risk Assessment to get your lowest eligible rate in minutes. Then pay a verification fee of N3,000 so they will be able to verify your home and work address.

Step 2. Choose Your Loan Term
Get a fixed term for 3, 6 or 12 months, yes, that is how their system works, choose your interest rates. Also, no hidden charges.

Step 3. Upload Documents, Be Verified and Get the Loan
They will carry out some verification checks on the information you provided earlier. Once you upload the required documents, your loan will appear on the platform for lenders to give you money.

Step 4. Disburse Your Loan
Once fully funded, you have to pay the 8% commitment fee and your loan will be credited in your bank account immediately.

To know more about FINT service or to apply for loan kindly hit here

Please take time to read one of our article: how to manage and deal with stress

6. Kwikmoney

Image of Kwikmoney on how to get instant loans in Nigeria

Just like their competitors, Kwikmoney also has what made them stand out. They are mainly up for giving instant loans in Nigeria and they also engage in savings. kwikmoney partner between banks, mobile network operators, and technology companies on a mission to make personal banking services convenient and accessible to all Nigerians.

However, talking about the Loan platform
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 starting 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, what you have to do is open an instant mobile account in a bank or microfinance bank and you will be earning 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.

To know more about their service or to apply for loan kindly hit here

7. Lmoney

Image of  lmoney

Lmoney is also a lending platform we want to let you know under on how to get instant Loan in Nigeria. This particular platform also has its uniqueness which is the fact that it focuses on salary advances and consumer credit platform. 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.

Who can get the fund?

Claim the loan as an individual or as a group and either directly or through your employers, the choice is yours. Also, you can just go to retail shops across the country to pick favorite appliances leaving Lmoney to take up the bills in the form of loans to you. Lmoney is fighting hard to be a world-class finance provider to its targeted consumers.

Applying for loans in Lmoney is also a favorable one that we should take into consideration when next we are planning on taking a loan. In Lmoney, you can get up to ₦2,000,000 within 24hrs, it is possible, real, and super easy.

In conclusion, based on the fact that Lmoney focuses on Salary, getting your loan will require you to have been getting a salary monthly which will be the basis for calculating the loan you requested for. The amount to borrow should be in relation to the monthly income, the monthly repayment shouldn’t exceed 35% of your monthly income. It is a short term loan that runs between 12 months.

Not everyone is entitled to this loan as there is eligibility status attached to the application and it includes;

You must be a paid employee
Your age should range from 22-55 years
An active salary account.

How it works

Step 1. Go to their website on click on the Apply Now section, you will be asked a series of a question just for them to know who they are dealing with. Complete the online application to the rate of 100%.

Step 2. After a successful application, their team will review your information and get back to you with 24hrs.

Step 3. If approved, you will receive your fund directly into your preferred bank detail within 5 hours of loan approval.

Step 4. Repay your loan so you can have the opportunity to build your credibility with the company.

To know more about their service or to apply for loan kindly click here

8. Paylater

Image of paylater app on how to get loans in Nigeria

Paylater is another online lending platform we will be talking about on 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 actually no time you can not apply for a loan in Paylater, whether morning, afternoon, night and 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.

Note: There is a warning that a paylater loan should not be taken for long term borrowing and should not be taken when in serious financial difficulty.

In our dealings with the paylater platform, we need to input our credit/debit card information but we shouldn’t be afraid because with Paylater all data collected is safe and encrypted using SSL technology. In addition, all fees will be shown before applying for a loan and after that, there aren’t any hidden fees whatsoever just to make the system transparent.

How it works

Step 1. Download the App
Search for Paylater in the Google play store, click Install, read and understand what the app needs access to, If you agree, select Accept and Continue.

Step 2. Introduce Yourself
Paylater would like to know more about you. So, fill out the brief application form with your information and they will review it immediately.

Step 3. Money in Your Account
Once approved, you will get alert within minutes.

If your application is unsuccessful, Paylater will inform you of the reasons and maybe you can still be eligible for a loan.

Step 4. Repay Your Loan
Making on-time repayments can grant users access to higher credit limits for their next loan.

Bonus: In addition, apart from the loan, Paylater also engages in investment opportunity where you can earn up to 15.5% per annum when you invest with Payvest…

To know more about their service or to apply for loan kindly click here

You might also want to read one of our wonderful article: Opportunities in Nigeria

9. Pettycash

Image of 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 advantage of technology. That way, they are able to make the list on how to get instant loans in Nigeria.

However, their service is total digital providing loans to salary earners in Nigeria through individuals or their employers. Pettycash customers can access loans anytime and anywhere.
The highest money you can get from Pettycash is ₦50,000 and the minimum you can get is ₦5,000, and the repayment period is just a month. In addition, you must also be a salary earner to apply for this kind of loan, and you must earn a minimum of ₦30,000. Loan decision is less than two hours and you will be credited within 2 hours.

List of loan products goes thus;

Federal Staff Loan
Loan to any Federal govt staff in Nigeria. Loans from ₦,5000 – ₦50,000.

Get up to ₦5,000 emergency loan within 5minutes and this is available to everyone.

Personal Loan
A short loan to salary earners in Nigeria. Get 20% of your salary till payday. Bank statement & direct debit applies.

Loan to corp members currently serving in Nigeria. The loan from ₦1,000 to ₦5,000 only is what they can be entitled to. Though the opportunity is still under processing.

Bankers Loan
Loan product to bankers working in Nigeria.

Market Women
Loan to market women doing buying and selling in selected markets in Nigeria. This is also in processing.

To know more about their service or to apply for a loan, please click

10. renmoney

Image of renmoney on how to get loans in Nigeria

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 its loan in case you need money to pay rent, cover school fees or buy a new car. Also, renmoney offer loans of up to ₦4,000,000 naira conveniently spread over 12 months, at 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 is because;

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

The interesting part of it is that renmoney doesn’t only give out loans as you can also invest in the platform to get up to 17% Return On Investment per annum.

And what made this platform a reliable one to us is that they are being transparent in their finances. some of the things that made us conclude that they are no doubt reliable;

In conclusion, they have been able to give out loans worth ₦50billion naira, have over ₦170billion naira in fixed deposit inflows with over 140,000 customers.

To know more about their service or to apply for loan kindly click

Conclusion on: How to Get Instant Loan in Nigeria

There you have the list of ways to get loans in Nigeria. Now the choice is yours. Once you are able to go through the post with an open mind, I am sure you will be able to see any of the lists that suit your purpose.

We hope this post could help you make some meaningful decisions. please do let us know what you think via the comment section below.


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