₦5 000 000
Loan amount ₦10 000 - ₦5 000 000
Interest 4 %
Maturity 1 - 18 months

Fast information

Properties of this loan

  • Online loans up to N5.000.000
  • Term 1 - 18 months

Loan terms

  • You must be in a paid employment or a business owner
  • Your age should be between 18 and 55 years
  • You must have a savings or current bank account

About company

More information about the company Pennylender Limited

Borrow from ₦10 000 with interest from the 4 % Moread
₦500 000
Loan amount ₦500 - ₦500 000
Interest 5 %
Maturity 30 - 365 days

Fast information

Properties of this loan

  • Online loans up to N500.000
  • Term 30 - 365 days
  • Easy online application

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Migo Technology Services Limited

Borrow from ₦500 with interest from the 5 % Moread
₦1 000 000
Loan amount ₦1,500 - ₦1 000 000
Interest 1 %
Maturity 4 - 64 weeks

Fast information

Properties of this loan

  • Online loans up to N1.000.000
  • Term 4 - 64 weeks

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company One Finance & Investments Limited

Borrow from ₦1,500 with interest from the 1 % Moread
₦1 000 000
Loan amount ₦1,500 - ₦1 000 000
Interest 1 %
Maturity 4 - 64 weeks

Fast information

Properties of this loan

  • Online loans up to N1.000.000
  • Term 4 - 64 weeks

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company One Finance & Investments Limited

Borrow from ₦1,500 with interest from the 1 % Moread
₦1,500 000
Loan amount ₦100 000 - ₦1,500 000
Interest 5.6 %
Maturity 1 - 8 months

Fast information

Properties of this loan

  • Online loans up to N1.500.000
  • Term 1 - 8 months

Loan terms

  • Be in a paid employment
  • Be between 21 and 58 years
  • Have a salary account
  • Have a pension account or tax ID
  • Have a valid Proof of Identification
  • Have a recent utility bill

About company

More information about the company Rosabon Financial Services Limited

Borrow from ₦100 000 with interest from the 5.6 % Moread
₦5 000 000
Loan amount ₦500 000 - ₦5 000 000
Interest 1.33 %
Maturity 6 - 12 months

Fast information

Properties of this loan

  • Online loans up to N5.000.000
  • Term 6 - 12 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Guaranty Trust Bank Plc.

Borrow from ₦500 000 with interest from the 1.33 % Moread
₦50 000
Loan amount ₦5 000 - ₦50 000
Interest 12 %
Maturity 15 - 30 days

Fast information

Properties of this loan

  • Online loans up to N5.000.000
  • Term 15 - 30 days
  • No collateral

Loan terms

  • 18 + years old
  • Nigerian citizen
  • The bank account provided should be in your name

About company

More information about the company Pettycash Nigeria

Borrow from ₦5 000 with interest from the 12 % Moread
₦1 000 000
Loan amount ₦2 000 - ₦1 000 000
Interest 6 %
Maturity 1 - 3 months

Fast information

Properties of this loan

  • Online loans up to N1.000.000
  • Term 1 - 3 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Aella Credit Limited

Borrow from ₦2 000 with interest from the 6 % Moread
₦5 000 000
Loan amount ₦1 - ₦5 000 000
Interest 3.5 %
Maturity 1 - 18 months

Fast information

Properties of this loan

  • Online loans up to N5.000.000
  • Term 1 - 18 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Zedvance Limited

Borrow from ₦1 with interest from the 3.5 % Moread
₦5 000 000
Loan amount ₦10 000 - ₦5 000 000
Interest 4 %
Maturity 1 - 36 months

Fast information

Properties of this loan

  • Online loans up to N5.000.000
  • Term 1 - 36 months

Loan terms

  • The salary advance loan requires salary earners with minimum net monthly salary of N100,000
  • The small ticket personal loans requires salary earners with minimum net monthly salary of N150,000

About company

More information about the company Access Bank Plc.

Borrow from ₦10 000 with interest from the 4 % Moread
₦4 000 000
Loan amount ₦100 000 - ₦4 000 000
Interest 5 %
Maturity 1 - 18 months

Fast information

Properties of this loan

  • Online loans up to N4.000.000
  • Term 1 - 18 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Creditville Limited

Borrow from ₦100 000 with interest from the 5 % Moread
₦5 000 000
Loan amount ₦10 000 - ₦5 000 000
Interest 5 %
Maturity 1 - 60 months

Fast information

Properties of this loan

  • Online loans up to N5.000.000
  • Term 1 - 60 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Sterling Bank Plc.

Borrow from ₦10 000 with interest from the 5 % Moread

C24

C24  4
₦5 000 000
Loan amount ₦50 000 - ₦5 000 000
Interest 16 %
Maturity 1 - 12 months

Fast information

Properties of this loan

  • Online loans up to N5.000.000
  • Term 1 - 12 months

Loan terms

  • You should be between 22 and 55 years
  • Applicant must live and/or work in Lagos State
  • Be employed (for at least 6 months) and get paid into your bank account
  • Have a good credit history
  • You must have a verifiable monthly income
  • You must have a pension account

About company

More information about the company C24 Limited

Borrow from ₦50 000 with interest from the 16 % Moread
₦500 000
Loan amount ₦1,500 - ₦500 000
Interest 10 %
Maturity 1 - 3 months

Fast information

Properties of this loan

  • Online loans up to N500.000
  • Term 1 - 3 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company FairMoney

Borrow from ₦1,500 with interest from the 10 % Moread
₦2 000 000
Loan amount ₦50 000 - ₦2 000 000
Interest 4 %
Maturity 1 - 60 meses

Fast information

Properties of this loan

  • Online loans up to N2.000.000
  • Term 1 - 60 meses
  • No collateral needed

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company FCMB Group Plc.

Borrow from ₦50 000 with interest from the 4 % Moread
₦5 000 000
Loan amount ₦10 000 - ₦5 000 000
Interest 5 %
Maturity 1 - 60 months

Fast information

Properties of this loan

  • Online loans up to N5.000.000
  • Term 1 - 60 months
  • No collateral

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Sterling Bank Plc.

Borrow from ₦10 000 with interest from the 5 % Moread
₦10 000
Loan amount ₦1 000 - ₦10 000
Interest 4 %
Maturity 14 days

Fast information

Properties of this loan

  • Online loans up to N10.000
  • Term 14 days

Loan terms

  • Applicants must be 18 years and above
  • Must live and work in Lagos State
  • Must be employed with salary/self-employed with a monthly income

About company

More information about the company Bidellus Nigeria Limited

Borrow from ₦1 000 with interest from the 4 % Moread
₦1 000 000
Loan amount ₦1 000 - ₦1 000 000
Interest 2 %
Maturity 1 - 12 months

Fast information

Properties of this loan

  • Online loans up to N1.000.000
  • Term 1 - 12 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Interswitch Ltd

Borrow from ₦1 000 with interest from the 2 % Moread
₦30 000 000
Loan amount ₦50 000 - ₦30 000 000
Interest 4 %
Maturity 12 - 60 months

Fast information

Properties of this loan

  • Online loans up to N30.000.000
  • Term 12 - 60 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Union Bank Of Nigeria Plc

Borrow from ₦50 000 with interest from the 4 % Moread
₦6 000 000
Loan amount ₦100 000 - ₦6 000 000
Interest 35.75 %
Maturity 3 - 24 months

Fast information

Properties of this loan

  • Online loans up to N6.000.000
  • Term 3 - 24 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Renmoney

Borrow from ₦100 000 with interest from the 35.75 % Moread
₦150 000
Loan amount ₦30 000 - ₦150 000
Interest 0 %
Maturity 2 weeks - 8 months

Fast information

Properties of this loan

  • Online loans up to N150.000
  • Term 2 weeks - 8 months

Loan terms

  • Duly completed application form
  • 2 guarantors
  • 2 recent passport-size photographs
  • Current electricity bill
  • A valid means of ID (national ID, driver's license, voter's card or international passport)

About company

More information about the company LAPO MfB

Borrow from ₦30 000 with interest from the 0 % Moread
₦2 000 000
Loan amount ₦2 000 - ₦2 000 000
Interest 2 %
Maturity 1 - 12 months

Fast information

Properties of this loan

  • Online loans up to N2.000.000
  • Term 1 - 12 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company FINT Technology Africa Limited

Borrow from ₦2 000 with interest from the 2 % Moread
₦200 000
Loan amount ₦20 000 - ₦200 000
Interest 5 %
Maturity 7 - 30 days

Fast information

Properties of this loan

  • Online loans up to N200.000
  • Term 7 - 30 days
  • No collateral

Loan terms

  • 18 + years old
  • Nigerian citizen
  • The bank account provided should be in your name

About company

More information about the company KiaKia

Borrow from ₦20 000 with interest from the 5 % Moread
₦100 000
Loan amount ₦5 000 - ₦100 000
Interest 4.5 %
Maturity 7 - 190 days

Fast information

Properties of this loan

  • Online loans up to N100.000
  • Term 7 - 190 days
  • No collateral needed

Loan terms

  • 18 + years old
  • Nigerian citizen
  • Have a smartphone

About company

More information about the company Soko Lending Company Limited

Borrow from ₦5 000 with interest from the 4.5 % Moread
₦5 000 000
Loan amount ₦10 000 - ₦5 000 000
Interest 0 %
Maturity 1 - 12 months

Fast information

Properties of this loan

  • Online loans up to N5.000.000
  • Term 1 - 12 months

Loan terms

  • Identity Card
  • Employment Letter and Last Salary Review Letter
  • Valid means of ID ( National ID Card, Voters card, Driving license and International passport)
  • 3 months stamped bank statement (Up to Date)
  • Pension Statement(For current account holders)
  • Postdated Cheques Covering Loan Tenor
  • Bank Verification Number
  • Signed and updated Direct Debit Mandate

About company

More information about the company Credit Direct Limited

Borrow from ₦10 000 with interest from the 0 % Moread
₦100 000
Loan amount ₦1 000 - ₦100 000
Interest 3.5 %
Maturity 30 days

Fast information

Properties of this loan

  • Online loans up to N100.000
  • Term 30 days

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Jumia Nigeria

Borrow from ₦1 000 with interest from the 3.5 % Moread
₦2 000 000
Loan amount ₦100 000 - ₦2 000 000
Interest 4 %
Maturity 1 - 36 months

Fast information

Properties of this loan

  • Online loans up to N2.000.000
  • Term 1 - 36 months

Loan terms

  • You are a registered business
  • You have been operating for 6+ months
  • You have a valid invoice and are awaiting payment OR you have a purchase order and need financing to help you complete the job

About company

More information about the company Lidya

Borrow from ₦100 000 with interest from the 4 % Moread
₦50 000
Loan amount ₦10 000 - ₦50 000
Interest 31 %
Maturity 30 days

Fast information

Properties of this loan

  • Online loans up to N50.000
  • Term 30 days
  • Revolving credit

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Rapid Cash Payday Loans, LLC

Borrow from ₦10 000 with interest from the 31 % Moread
₦100 000
Loan amount ₦1 000 - ₦100 000
Interest 4.6 %
Maturity 14 - 180 days

Fast information

Properties of this loan

  • Online loans up to N100.000
  • Term 14 - 180 days

Loan terms

  • 18 + years old
  • Nigerian citizen
  • Have a smartphone

About company

More information about the company Transsnet

Borrow from ₦1 000 with interest from the 4.6 % Moread
₦100 000 000
Loan amount ₦1 000 000 - ₦100 000 000
Interest 9 %
Maturity 1 - 5 years

Fast information

Properties of this loan

  • Loans for small and medium businesses
  • No collateral

Loan terms

  • Letter of employment
  • Staff identity card
  • Pay slip
  • 6 months statement of account

About company

More information about the company NIRSAL National Microfinance Bank (NNMFB)

Borrow from ₦1 000 000 with interest from the 9 % Moread
₦50 000 000
Loan amount ₦250 000 - ₦50 000 000
Interest 14 %
Maturity 1 - 5 years

Fast information

Properties of this loan

  • Limit of N5,000.000.00 to individual persons
  • Above N5,000.000.00 to corporate organisations

Loan terms

  • Current tax clearance certificate
  • Last 3 years audited statement of account or statement of affairs required
  • Consent to mortgage of the landed property being pledged as security for the loan

About company

More information about the company Bank of Agriculture Ltd.

Borrow from ₦250 000 with interest from the 14 % Moread
₦50 000 000
Loan amount ₦1 000 000 - ₦50 000 000
Interest 10 %
Maturity 1 - 5 years

Fast information

Properties of this loan

  • Enterprise loan
  • Up to N50.000.000

Loan terms

  • Formal Application on letterhead and duly completed loan application form.
  • Photocopy of Certificate & Form of Registration
  • Business Plan which includes detailed Profile of the Business Enterprise with Curriculum Vitae of the key Management Staff
  • Proforma invoice for the items of Equipment to be purchased
  • Sources and quotations for Raw Materials expressed in quantity and amount
  • Means of Identification of Promoters (a) Four (4) passport photographs and Biometrics Verification Number (BVN), (b) Photocopy of International Passport or Driver’s License or National Identity Card or Permanent Voter’s Card
  • Bank Statement of the Business Enterprise for a period of one (1) year (for existing business)
  • Declaration of Outstanding Liabilities to other Banks and Individuals, if any
  • Two Individual external guarantors with proper means of identification such as BVN, four (4) passport photographs, Identity Cards and Letter of Intent to guarantee the loan

About company

More information about the company Bank of Industry Limited

Borrow from ₦1 000 000 with interest from the 10 % Moread
₦100 000
Loan amount ₦1 000 - ₦100 000
Interest 5 %
Maturity 1 - 30 days

Fast information

Properties of this loan

  • Online loans up to N100.000
  • Term 1 - 30 days

Loan terms

  • 18 + years old
  • Nigerian citizen
  • Your account must be older than 1 month with BVN and KYC done to be able to request for cash

About company

More information about the company Bincom ICT Solutions

Borrow from ₦1 000 with interest from the 5 % Moread
₦200 000
Loan amount ₦10 000 - ₦200 000
Interest 3 %
Maturity 1 - 6 months

Fast information

Properties of this loan

  • Online loans up to N200.000
  • Term 1 - 6 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Wema Bank Plc.

Borrow from ₦10 000 with interest from the 3 % Moread

We have compared 35 loans. The last update was made on 23.09.2020 in 21 hours 31 minutes.

Loan calculator

Loan calculator

One of the advantages of technological advancements in the money lending world is the advent of a loan calculator. It is an automated system provided as one of the many options/services on a typical online pending platform. This loan calculator is so accurate that It would give you a clear calculation of your loan tenure, interest rate, amount to be repaid per month based on your eligibility and the amount of loan you can borrow in that instance. 

For most lending platforms, as you repay your previous loans, especially right on time (without taking extra time), your loan credit limit increases (i.e. the total amount of loan you can obtain increases) and so you may have to use the loan calculator again. 

It is expedient to state that before you borrow a loan from a reliable online money lending platform, they should provide you with the loan calculator option first, in order to guide your choice of loan credit limit. Loan tenure reveals in the accurate provision, the amount of money you are to repay per month (well spread across the loan tenure)

General Requirements for loans in Nigeria

After calculating your loan, and knowing all the necessary details of interest and loan period, you should also know the loan requirements. The requirements for obtaining a loan from online money lenders differ based on whether it is an individual loan or a corporate loan.

For individuals:

  • Bank Verification Number  (BVN)
  • Passport photograph
  • Address
  • Salary account, pension account or tax ID
  • Employment letter

For SMEs /Businesses:

  • A copy of passport photograph
  • A means of identification (this could be drier's license, international passport, national passport)
  • Last six-month bank statement of account
  • Certificate of incorporation
  • Memorandum of association
  • Post-dated NUBAN cheques from the client
  • A suitable guarantor who would provide the following:
    • Letter of confirmation/employment
    • One undated NUBAN cheque
    • A copy of staff Identity Card
    • A filled guarantor form

What a typical loan calculator entails

  • Amount of the loan: you get to fill in the amount of money you desire to borrow, based on the amount you are eligible for and the general credit limit set by the platform.
  • The percentage rate of interest: in certain instances, you are allowed to select a suitable interest rate just for the purpose of calculation and in other cases, the system selects an interest rate based on the risk involved and the amount of loan you desire to obtain.
  • Repayment period in months: this is usually a range of months and you get to select the number of months you desire to repay the loan (falling within the stipulated range).
  • Your monthly payment: the loan calculator then automatically calculates the amount of money you would repay per month, based on the amount of loan, interest rate, and loan tenure.
  • Your total payment: The system also gives you an authentic figure of the total amount you would repay after the stipulated loan tenure. 
  • Your interest payment: the interest to be paid is also calculated, which is the difference between the total amount to be repaid and the requested amount of loan.

Virtually all online lending platforms have a loan calculator, that would enable you to make financial calculations in order to make the best financial decisions. 

Some of these platforms include:

  • Commercial banks with online lending platforms, like Guaranteed trust bank, United Bank for Africa, First Bank of Nigeria plc, Access bank, Union Bank, Fidelity bank, etc.
  • Other online lending platforms like: 
    • LAPO (Lift Above Poverty Organisation)
    • Page financials
    • C24 etc. This is just to list a few, as it is typical of a reliable online lending platform to have the loan calculator option. 

Conclusion: without loan calculators, the act of borrowing money might as well be done with blindfolds on. Loan calculator opens you up to the full details of all your requested loan entails, especially, the amount to be repaid per month and the loan tenure.

Articles