Download Apps That Give Loans In Nigeria Without Collateral Fast – Borrow From Personal Lenders or Companies At Lowest Rates – PayLater, KiaKia, C24, Lydia
Being broke is not bad but not knowing where to source short-term funds when you have expenses or bills to settle is the biggest challenge. Unlike the traditional method of requesting for loan where you have to fill forms, submit proposals, and meet bank credit and loan officers one on one in which you may not be successful, here are alternative channel apps that give quick loans in Nigeria at a pocket-friendly interest, payable within a convenient period via direct debit to your account. You and I know that banks are no longer providing a loan to small business.
In this guide on how to get a quick personal or business loan without collateral, I will be sharing the best 5 loan providers who employ proprietary algorithm designed to pre-screen applicants real-time, display loan calculators, process loan request faster and disburse cash to applicants in 1-5 days.
See – Top Mobile Banking Applications For Global Transactions
Best Apps That Give Loans In Nigeria Without Collateral Fast:
If you want to download apps that give loans in Nigeria, here are loan lenders you should give a try:
PayLater is a leading microlending platform that offers up to N10,000 to its BVN-registered applicant, payable within 30 days. The platform is designed in a way that members who pay back loan promptly enjoy a high loan advance on their next request. The need for BVN ensures that information provided by the user matches the data on the central system.
To request a loan on PayLater platform, here are steps to take:
- Download the app on Google Play store
- Introduce yourself, sign up on the platform and request for a loan.
- Once your request is approved, your account will be credited within 1-3 business days. What if your application is unsuccessful? you will be informed of the reason for such rejection and how you may be eligible for a future loan.
- The final stage is repayment where you will be debited. Your promptness in repaying loan determines the level of your next loan request.
- KiaKia Loan:
KiaKia Loan is a direct and peer-to-peer loan platform that provides credit to credible borrowers who earn income every month – from personal business or employment.
To qualify for a loan on KiaKia platform, users’ data and information are submitted and screened using a proprietary credit scoring system to determine their character or creditworthy. If the application is unsuccessful, an SMS or email is sent notifying the applicants of the status. On the other end, a successful registration takes the users to the next stage where he/she is expected to complete an attestation online. At this stage, he could either be approved or disapproved.
An approved user, after the attestation stage, will be required to fill in the loan agreement form before funds are finally disbursed within 15 minutes to the applicant’s account.
Just like KiaKia loan, C24 extends personal or group loan to individuals in paid employment through technology. C24 boast of the paperless application as all request are processed and approved online at a low-interest rate with flexible repayment terms.
Before applying for a personal loan on the C24 platform, users’ can use the loan calculator on the website to see “Total loan repayment and monthly repayment” based on “how much he/she wants”, and the duration of the loan.
On C24 platform, the more you build your credit history, the more fees are dramatically reduced so you can request for a larger loan under a flexible term.
Lidya is the latest entrant to the personal or business loan marketplace – the firm promise to offer online unsecured loan ranging from $500 – $15,000 to its users without collateral. The platform is owned by Ex-Jumia co-founder, Kehinde who is focused on helping small business owners easily access loan in just three steps.
Here is how you can apply for a loan on Lidya platform:
- Open an account in 15 minutes.
- Apply for a loan.
- Get paid in 72 hours.
On the platform, there isn’t any loan calculator that displays to users what is the payment terms are but I feel the startup is trying focus on conversion by simplifying registrations online
If you think borrowing short term personal loan from banks is stressful, try Aella Credit, an organised financial technology startup that promise to eliminate the standard of loan application. Aella Credit lets employees apply for a loan at a fair rate through their employers.
Unlike other small business and personal loan providers that offer individuals direct access to their loan request system, Aella Credit is designed to bring companies on board via online registration or API integration so that employees can download the app, use the ID number to populate their information instantly and start requesting a loan in 2-3 minutes.
While these are providers that offer easy access to personal or business loan without collateral, you can also find more finance companies by talking to your financial adviser.