Payday loans

        Payday loans in Nigeria

Do you need to fulfil a need before your salary comes in? Payday loans are just for you. With numerous lending platforms available online, you can get access to a payday loan within 24 hours.

₦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

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 ₦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
₦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
₦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

        Payday loans in Nigeria

There come those dark days when you cannot wait for your salary to be paid to cater to one need or the other. Such requirements may arise as emergencies or unexpected expenditures. Payday loans would come handy on such days. With a payday loan, you can effectively utilize the money for whatever it is you intend to use it for, without having any worries about your "yet to be paid" salary.

This kind of loan is quite different from the other types, and their volume may be determined by your salary volume (in most cases) and the level of risk involved. The repayment of the loan is based on a monthly deduction of a specified amount (which includes the monthly interest) from your monthly salary. 

Payday loans are usually short term, and their interest rates may be a bit (relatively) higher than some other type of loans. Yet, a payday loan is the type of loans fit for those people who do not like to take the risk for long term loans. With a payday loan, they pay banks from their next salary, and their mind is off it. 

General Requirements for payday loans

The requirements for obtaining a payday loan from online money lenders differ based on whether it is an individual loan or a corporate loan.

For individuals:

For SMEs /Business:

Sources of Payday loans in Nigeria include:

Pros of payday loans

Cons of payday loans

As a salary earner who needs a small loan to fix a problem quickly, a payday loan got you covered. The cons listed above are not to discourage you; they are just realities you should take seriously before opting for a payday loan. 

Before, using any of the payday loan platforms, read through their terms and conditions thoroughly and take note of all necessary details, especially the loan tenure and the interest rate. 

Conclusion: you may not be the type that likes to take the risk of getting loans, unusually high volume loans, then a payday loan is just for you. This is simply because the loan is usually easy to understand and to repay also. You get to pay once you are paid your salary; a payday loan is just like getting your salary in advance to meet your immediate needs. 


Payday loans in Nigeria rating: 4.5/5 from 31 votes.

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