How To Get Quick Loans/Lending Platforms in Nigeria 2020

How To Get Quick Loans/Lending Platforms in Nigeria 2020.

Quick Loans and Lending Platforms in Nigeria… Have you ever thought of how get quick loans in Nigeria? There are times when we need money to quickly settle a need be it a debt, to pay bills, or to execute a deal. During such times we need quick money without having to go through the complicated process which most banks or lending schemes put one through before getting loans.

Some banks would even demand for collateral, documents and other such things just to lend money which isn’t even much. In such situations, we just wish we could get the loans quickly to settle our pressing needs then pay back later at an agreed date.

Sometimes, it’s not just because you don’t want to go through the complicated money lending processes by the commercial banks but because it could be a weekend, holiday or time when the banks aren’t open and you need the money urgently. Sometimes the money you need might not be worth the stress or just for the simple reason of avoiding embarrassment.

Just to put the above paragraph in perspective, how would you feel walking into a commercial bank in the morning seeking a 10,000 naira loan? A little embarrassed, right? I understand. I might feel same too. Add that to having to wait in line as it happens in many commercial banks in Nigeria. Even worse!

The above scenarios and more are what necessitated and fueled the need for quick loans and lending platforms in Nigeria. In recent years, many of such quick loans and lending platforms have been in springing up in Nigeria but of these platforms, which are the best and the top rated ones? What are the advantages do they have over the other quick loans and lending platforms in Nigeria? These and many more are what we would be looking into.

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Below are the top 20 quick loans and lending platforms in Nigeria. The arrangements aren’t made in any particular order but the differences aren’t really wide.

  1. ALAT

ALAT is Nigeria’s first fully digital bank. It is a subsidiary of Wema Bank Nigeria. With ALAT you don’t need to go through the process of opening an account in a commercial bank but you can operate it like a bank account as you would even be given a Debit Card linked to your ALAT account.

To know more visit: ALAT


PAYLATER is an android based quick loans and lending platform in Nigeria. Once you download the PAYLATER app and install it from Google Playstore, you would be charge a 100 naira validation fee when registering.

The more you repay the loans you get on time, the higher the credit limit you can get. You would need to provide bank details and BVN that are valid.

The interest rate ranges from 5% to 30% and loan tenure ranges from 15 days to 6 months. To repay loans, you can use your Debit Card, Quickteller platform or direct transfer from your bank account.


Aella Credit is also another android based quick loan platform. Once you download the Aella Credit app and install it from Google Playstore, you would be charge a 30 naira validation fee when registering. It caters for both registered (in-network) and unregistered (out-of-network) companies on the platform. You get higher loans with lesser interest rates if you are in-network though.

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The interest rate ranges from 20% to 27% and loan tenure 1 month. To repay loans, you have to use your Debit Card.


ZEDVANCE is a web-based quick loan platform.  Just logon and register to ZEDVANCE website.

The interest rate starts from 7.5% and loan tenure ranges from 1 month TO 12 months. To repay loans, you have to use your Debit Card, bank deposit or cheques.


SMEDAN is actually supported by the Nigerian government and its aim is to give business loans to Nigerian-owned small and medium scale enterprises (SME) in need of finance. It is aimed at assisting entrepreneurs in Nigeria.

To apply and know more, visit the SMEDAN ONLINE APPLICATION .


Download the QuickCheck app and install on your android device or vist the QuickCheck website. The interest rate is 1% daily and loan tenure ranges from 5 days to 30 days.

You are required by QuickCheck to show proof of source of income and also choosing an employment status. You can get loans or buy phone airtime with the QuickCheck app. Also provid your Facebook account, bank details and mobile phone number.

To repay the loan, you have to use Debit Card or Direct Deposit.

  1. FINT

FINT is ranked as part of the 4000 highest ranking websites on Google Nigeria. You can lend or borrow money on the FINT platform. First, you would have to register with what is called the FINT risk assessment with is tagged at 3,000 naira, which would make you eligible to apply for a loan on the platform.

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Keep in mind that you can loan between 60,000 to 2,000,000 naira on the platform. You would have to repay the loan depending on the agreement in 3, 6 or 12 months which are fixed terms with interest rates as low as 2% every month.

Also note that you would have to pay 8% of the loan you seek before it would be disbursed. It is called a commitment fee.

Visit the FINT PORTAL.

  1. C24

On C24, you don’t need to provide collaterals, just bank details and a few other documents such as a national ID card, employment proof, bank statement, passport photograph and a direct debit mandate to them in person.

Visit C24. Interest rate is from 4% and the loan tenure ranges from 1 to 19 months.

To repay loans, you have to use your Debit Card or direct deposit.

Other top quick loans and lending platforms in Nigeria are:

  1. ONE-FI
  4. LiDYA
  9. KWIKCASH (by 9mobile)

With a 9mobile line, start the quick loan process with *561#


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