Top 10 Online Loans with Weekly or Monthly Payments in Nigeria 2024
In Nigeria, the financial landscape has witnessed a significant transformation with the emergence of online lending platforms that offer flexible repayment options. This article explores the top 10 online loans with weekly or monthly payments, providing a comprehensive overview of each platform’s features, loan terms, and repayment flexibility.
Top 10 Online Loans with Weekly or Monthly Payments in Nigeria 2024
Carbon (formerly Paylater)
Carbon is a widely recognized online lending platform in Nigeria, offering personal loans with adaptable repayment plans. Borrowers can choose between weekly or monthly payments based on their preferences and loan duration. The repayment period can range from two weeks to several months, depending on the borrowed amount.
FairMoney
FairMoney stands among Nigeria’s top 10 online loan platforms, providing instant loans based on the borrower’s creditworthiness. With loan amounts reaching up to N5,000,000, borrowers can opt for weekly or monthly repayment options. The application process is streamlined through their mobile app, ensuring quick access to funds upon approval.
Renmoney
Like FairMoney, Renmoney offers loans ranging from N50,000 to N5 million, with repayment options extending up to 24 months. Borrowers can select between weekly or monthly payments, and Renmoney goes beyond loans by incorporating banking features to enhance the user experience.
Aella Credit
Aella Credit is another notable online loan app in Nigeria, providing a quick and straightforward approval process. Borrowers can access flexible loans and choose between weekly or monthly repayment options, ensuring convenience for users with diverse financial needs.
Zedvance
Zedvance focuses on providing short-term loans ranging from N50,000 to N5 million. Offering repayment options up to 18 months, borrowers can tailor their payment frequency to weekly or monthly based on the agreed loan terms.
Kiakia
Kiakia is a collateral-free online lending platform offering loans from N50,000 to N5 million. With flexible repayment terms, borrowers can opt for weekly or monthly payments, aligning with their financial preferences and needs.
QuickCheck
QuickCheck facilitates online loans in Nigeria, ranging up to N500,000, with repayment terms spanning 2 weeks to 12 months. Borrowers can choose between weekly or monthly payments based on their agreement with QuickCheck.
Specta
Specta is a comprehensive online lending platform providing both personal and business loans in Nigeria. Loan amounts range from N10,000 to N5 million, with repayment terms up to 12 months. Borrowers can customize their repayment frequency, opting for either weekly or monthly payments.
Migo (formerly KwikMoney)
Migo has become a trending online lending platform in Nigeria, offering loans from N500 to N500,000 with up to 30 days of repayment terms. Borrowers can choose between weekly or monthly payments, providing flexibility and accessibility to many users.
QuickCredit
QuickCredit wraps up the list, offering loans ranging from N10,000 to N500,000 with repayment options spanning 6 months. Borrowers can choose weekly or monthly payments, ensuring a convenient and quick borrowing experience.
F.A.Q
Which app is legit for a loan?
Branch is a legitimate loan app in Nigeria, with over 10 million downloads. They offer quick online loans ranging from ₦2,000 to ₦500,000 through the Branch app, with a repayment period of 61-180 days. No documentation is required for their cash loans.
How much can Okash borrow from me for the first time?
Okash provides loans ranging from NGN 3,000 to NGN 500,000. The entire loan application process is conducted online and is available 24/7. To access Okash loans, one must download the app, complete the requirements, and submit the required information.
Can I borrow money from OPay?
OPay offers loans with a review process. The loan amount is deposited into your OPay wallet or bank account upon approval. Understanding the repayment terms, including interest rates and due dates, is crucial.
Which loan app is suspended in Nigeria?
As of now, the 37 delisted loan apps in Nigeria include Swiftkash App, Hen Credit Loan App, Cash Door App, Joy Cash-Loan Up To 1,000,000 App, Eaglecash App, Luckyloan Personal Loan App, Getloan App, Easeloan Apps, Naira Naija, Cashlawn App, Easynaira App, Crediting App, Yoyi App, Nut Loan App, Cashpal App, Nairaeasy Gist Loan.
How can I get an instant loan in 5 minutes in Nigeria?
Specta, an online lending platform, offers loans up to ₦5 million within 5 minutes. No collateral or paperwork is required. Users can address urgent personal and business needs through the Specta platform anytime, anywhere.
Does Kuda give loans?
Kuda allows employees to download the app, open an account with their BVN and valid ID, and apply for a loan. The quick automated loan approval process is followed by sending a loan offer through the Kuda app.
Is PalmPay the same as PalmCredit?
No, PalmPay and PalmCredit offer distinct services. PalmPay is a digital wallet app, while PalmCredit specializes in providing easy-access loans.
Is Okash the same as OPay?
Okash is Opay’s automated lending service focused on increasing credit access for financially under-served individuals in Nigeria. Loan decisions are provided within 15 seconds, and if approved, funds are disbursed within 5 minutes, operating 24/7.
Which loan app gives 50000 instantly?
Aella Credit is one such loan app that instantly provides access to loans of more than ₦50,000, contingent upon meeting their eligibility requirements. It is important to carefully review the terms and conditions of any loan before proceeding with the application.
Which loan app is the best in Nigeria?
Several reputable loan apps operate in Nigeria, offering various features and benefits. The top contenders are RenMoney, Palmcredit, Branch, QuickCheck, Aella, Lendigo, FairMoney, and KiaKia. The best choice depends on individual financial needs, eligibility criteria, and preferences.
Can a loan app block my BVN?
No, loan apps in Nigeria do not have the authority to block your BVN (Bank Verification Number). The Central Bank of Nigeria (CBN) is the only entity with the power to restrict your BVN. If there are issues with loan repayments, the loan app may report your identity to the National Credit Bureau, but they cannot directly block your BVN.
Conclusion
Nigeria’s top 10 online lending platforms have revolutionized the borrowing landscape, providing users access to quick funds and flexible repayment options. Whether opting for weekly or monthly payments, borrowers can choose the platform that best suits their financial needs and preferences.
