Do you need a loan right away? If you want to get a loan within 24 hours, then you have the right to know that there are reputable money loan organizations that have your back.
In Nigeria, there are various options for obtaining an urgent loan. With an expanding number of digital service financial platforms offering quick loans to prospective clients, you can now get an instant online loan within 24 hours or less than ten minutes on several loan applications.
Gone are the days when you had to apply for a loan and wait days, weeks, or months for it to be approved. The realm of money lending was governed by commercial banks back then. Other loan sources were either untrustworthy or had exorbitant interest rates.
However, in this day and age of technological innovation, access to loans is considerably more convenient. You will need an internet connection as well as a PC or mobile phone. A few mouse clicks would get you the loan at any time of day.
You can now be given a loan within 24 hours of applying, and you can also access loans 24 hours a day, seven days a week. The sole barrier to obtaining a 24-hour loan is the inability to provide the required documents upon request. Eligibility is a critical factor for obtaining a 24-hour loan.
General Requirements for 24 hours Online Loans
The prerequisites for receiving a 24-hour loan from an online money lender change depending on whether the loan is intended for a person or a corporate body/business. The prerequisites are as follows:
For SMEs /Businesses:
- A suitable guarantor
- A copy of passport photograph
- A means of identification (this could be a driver’s license, international passport, or national passport)
- Last six-month bank statement of account
- Post-dated NUBAN cheques from the client
- Certificate of incorporation
- Memorandum of association
- Bank Verification Number (BVN)
- Passport photograph
- Employment letter
- Salary account, pension account or tax ID
Below is a list of loan organizations in Nigeria that give you instant access to various types of loans.
FairMoney is a regulated loan app that provides quick loans to meet needs such as bill payments. A loan (from 2,500 to 150,000) requires a debit card and your Bank Verification Number.
Loan interest rates on FairMoney begin at 5% and can get up to 28% depending on the amount borrowed. It also has a loan term duration of four to twenty-six weeks.
If you repay your loan on FairMoney before the due date, you will pay a lower interest rate.
2. Opay Loan
This is a loan platform owned by Opera. It is commonly referred to as the Okash loan. They have established themselves as one of Nigeria’s most reputed loan organizations.
To get a quick loan, simply download the Okash mobile app, create an account, enter your information, and wait for approval. You will receive your loan within 24 hours.
With Branch, you can also get quick online loans in Nigeria. You can get loans ranging from N1,000 to N200,000 in less than 24 hours, with repayment terms ranging from four to forty weeks.
Because of its style of operation, it is widely recognized as one of the most dependable lending apps in Nigeria. Its interest rates range between 15% and 34%.
Borrowers are not required to provide any collateral or income-generating assets in order to obtain a loan. A variety of factors influence interest rates, including the cost of lending for Branch and the lender’s repayment history.
Nigerians now have simple access to loans from anywhere in the country without the need for physical involvement or collateral.
Renmoney is a Nigerian loan company that offers micro-business loans of up to N4 million. To qualify for a Renmoney SME loan, your company must have an excellent income statement history and regular monthly earnings for repayments.
The minimum borrowing amount is N100,000, with a monthly interest rate of 2.8%. For capital-intensive firms, such as a real estate company in Nigeria, the platform expedites and simplifies the process of obtaining money.
You can now request a loan from anywhere in the world and have it delivered to your account within 24 hours. This means that you can request a loan at any time during the course of 24 hours, which is sufficient to obtain one.