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Monday, February 10, 2020

Top 5 Best Loan Apps In Nigeria 2020 | Get Instant Loan Without Collateral

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KINDLY FOLLOW ON TWITTER @YAWADEY_NG

Many individuals and business owners might need extra-cash at hand to handle some financial issues. In times like this when all means of getting money has been exhausted, the best alternative is to consider getting a quick and easily affordable loan online.

The process of accessing quick loans in Nigerian banks is quite lengthy and tedious for any individual in need of small amount of loan, for a short period of time.

You'll have to sign and fill a lot of paperwork, bring a guarantor, and trick the bank with collateral.

Thanks to fintech startup's company you can now get fast loan in nigeria without Collateral. In this post I'll show how to get a quick loan in Nigeria.

Here Is A List Of 5 Best Loan Apps In Nigeria.

Gain access to Instance Loan without collateral in Nigeria. The good thing is if you pay your loan quickly and on time, the amount that you can borrow will increase.

NOTE: PLEASE MAKE SURE YOU PAY YOUR LOANS ON TIME TO AVOID COURT ISSUES.


1. BRANCH

Branch is a simple yet powerful mobile loan app in Nigeria. Branch loan give you instant loan on your Branch App it's so fast. You can get a loan in less that 5 minutes.

WHY SHOULD YOU TRUST BRANCH?

Branch has offices in Nairobi, Kenya; Lagos, Nigeria; Mexico City, Mexico; Mumbai, India; and San Francisco, United States.

 Your loan rate is determined by your phone usage. How? Branch collect and access information on customers' phone.  Access up to ₦200,000 on your smartphone. Anytime and anywhere.

Branch offers loans from ₦1,000 to ₦200,000. Loan terms range from 4 – 40 weeks with an Interest starting from 15% – 34% 

Equivalent monthly interest of 3% – 21% and APR of 33% – 261%, depending on your loan option. 

There are no late or rollover fees and no collateral necessary. Interest rates are determined by a number of factors, including your repayment history and the cost of lending for Branch. 

ELIGIBILITY CRITERIA

What is required to receive a Branch loan?

Requirements are simple - all you need to apply is your phone number or Facebook account, bank verification number (BVN) and bank account number. We will also request access to the data on your phone in order to build your credit score. Note that we currently support the following banks: ALAT by Wema Bank, Access (Diamond) Bank, Access Bank, Citibank Nigeria, Ecobank Bank, Enterprise Bank, Fidelity Bank, First Bank of Nigeria, First City Monument Bank, GT Bank, Heritage, Keystone Bank, Mainstreet Bank, Polaris Bank, Stanbic IBTC Bank, Standard Chartered, Sterling Bank, Suntrust Bank, Union Bank, United Bank for Africa, Unity Bank, Wema Bank, and Zenith Bank.

To get started click this link to DOWNLOAD AND REGISTER ON BRANCH.


2: OKASH

Okash is a lending service own by OPAY. Loan decisions are provided within 15 seconds and if approved, the applicant receives funds within 5 minutes.

The loans are delivered via an Android mobile app which you can DOWNLOAD HERE
Okash is available in Kenya and Nigeria. The company claims to offer loans between ₦2,500 to ₦60,000 with a loan term of 91 to 356 days and a maximum interest rate of 24%


3: CARBON

Carbon formerly paylater is a service provided by One Finance & Investments Ltd (RC. 1044655), a Finance company licensed and regulated by the Central Bank of Nigeria. With carbon you can get instant loans, make all your financial transactions, and invest money with high interest returns.
You can access up to ₦1,000,000 loan. No collateral. No guarantors. No paperwork

Carbon interest rate can be anywhere from 5% to 15% depending on the amount of money loaned and repayment period. Want some loan?


4: FAIRMONEY

With the FairMoney loan app  you can get instant loans up ₦150,000 without collateral or paperwork.

You just need to download the FairMoney app HERE, sign up and follow a simple application process to get an instant loan in only 5 minutes. Loans range from ₦1,500 to ₦150,000 with loan term durations of 4 – 26 weeks and equivalent monthly interest which ranges from 5% – 28%. There are no additional fees or hidden costs for processing your loan.


5: PALMCREDIT

With palmcredit you can get up to #100,000 limit, instance approval in 5 minutes.


To get a loan, you maybe be required to provide the following:
1. Bank Verification Number (BVN)
2. Full name
3. Primary telephone number
4. Bank account information
5. Occupation information

The loan interest rate ranges from 14% to 24%, equivalent Monthly interest 4.6%, the Annual Percentage Rate (APR) on a Palmcredit loan is 56.78% The loan term ranges from 14 days to 180days.

KINDLY, FOLLOW ON TWITTER @YAWADEY_NG
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