Tuesday, September 20, 2016

Online Credit Platforms in Nigeria

With these online loan lending (credit solution) companies, you don't have to own a collateral or wait another extended weeks before a co-operative society could grant you a loan/fund. Fintechs are seriously abstracting away the frustrations accompanying conventional loan applications.
It is a tech total take-over, no need for da long thing. 
It unwise to borrow indiscriminately from relatives with the economic reality in Nigeria at the moment, they have own burdens to handle, right? Some online money lenders are doing the magic for you already, they don't mind you coming back a million times as far as you are getting value for their services.
SureCredit  Nigeria banner Source

Below is a list of the online money lenders in no particular order. Follow each link for a more concise profiling of the platforms on SmartFinance. Assessing them will help determine which one fits your need.

Online Credit Platforms:

- Makes loan available to customers with no collateral or any paper work whatsoever.
The details of each platform on this list will be curated and presented later in individual pages, please do come back.

Credit Facility

Loan Range


Loan Tenor

Aella Credit N100k - N1m Lagos 12 Months
QuickCheck -/+ N30k Nationwide 30 days
PayLater N10k - N30k Nationwide 30 days
RenMoney ... Lagos  ...
SureCredit ... Employees of
Partner Companies
6 months
C24 ... Nationwide ...
One Credit ... ... ...
One Finance ... ... ...
SnapCredit ... ...
Social Lender Up to 10k Nationwide 1month
TopCheck ... ... ...
N50/10MB - ?? Nationwide Anytime

Will the amount lend attach any interest?

Well, your guess should be as good as mine, they are all for-profit organizations. Get ready to repay their trust and magnanimity with affordable interest. They all render the services at some interest rate, a good value for the services though. Make sure you check and interact with the customer care units, understand their terms and conditions before committing, abeg this na money matter.

Paying back is a breeze 

  • Your bank account may be debited on the scheduled date.
  • You might have to repay through online payment platforms eg PayStack, Quickteller.
  • By direct bank deposit into the company's designated account.
Missing your repayment is much like risking our account getting suspended, a legal action if you would still not cooperate on time. I bet you wouldn't want a bad credit record, would you? It gets your profile flagged and could be visible to other credit bureaus the next time you need help. A good turn, they say deserves another.

Please make sure you consult your advisor or get through to the customer care unit of whatever company that interests you for proper guidance. These information might change at any instant by the sole discretion of the company .
FAQs on the companies's webpages are usually very rich, avail yourself to them.

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