Fast cash loans allow incredible flexibility and give immediate access to funds when needed. Quick cash loans in Nigeria are mostly found online. See fast cash loans you can get today.
If you get a loan of ₦100,000 with the term of 1 month, the fee will be ₦5,000 and your total payment will be ₦105,000.
If you get a loan of ₦150,000 with the term of 2 months, the fee will be ₦15,044 and your total payment will be ₦165,044.
If you get a loan of ₦1500 with the term of 4 weeks, the fee will be ₦1,190 and your total payment will be ₦2690.
If you get a loan of ₦1,000 with the term of 30 days, the fee will be ₦700 and your total payment will be ₦1,700.
If you get a loan of ₦500,000 with the term of 6 months, the fee will be ₦20,000 and your total payment will be ₦520000.
If you get a loan of ₦100,000 with the term of 30 days, the fee will be ₦3,500 and your total payment will be ₦103,500.
If you get a loan of ₦500,000 with the term of 6 months, the fee will be ₦39,800 and your total payment will be ₦539800.
Not all of them. Some fast cash loan lenders approve your loan application and give you access to the loan within minutes or hours, while other fast loan lenders provide you with access to the loan within 5 days maximum.
Every loan differs depending on the loan lender. While other loans have specific criteria, some standard requirements apply to fast loans too. For example, you must be 18 or older, have a bank account with BVN, and sometimes a track record.
You can find fast cash loans online without collateral, backers, or paperwork. The requirements for quick cash loans are minimal, approval is given within minutes or hours, and payment follows immediately.
These are loans you can easily access when you need it. You are getting the payout shortly after your application has been approved. The entire application process is easy, stress-free, and completed online. Ensuring that you have access to immediate funds for an emergency.
You can access student loans, personal loans, and car loans, but these quick loans, while easily accessible, have interest rates that go as high as 60% and can be repaid over months or years.
There are specific criteria to meet to qualify for fast cash loans online. First, you must obtain a loan from a licensed financial institution through Nigeria's money lending laws and regulations. Any transaction between you and this money lender will be backed and protected by separate legislation across various Nigerian states.
This law gives the loan lender the right to deduct the loan with interest from the provided active bank account if you do not pay on the agreed deadline. Here are the standard criteria for obtaining fast cash loans:
Different fast loan lenders have their requirements too. Acquaint these requirements and check if you meet them before applying for a loan.
There are risks involved whenever you apply for a loan, but when looking for fast cash loans online, it can be easy to ignore the risks and fall victim to a loan shark. However, before asking for a quick cash loan, there are hazards to consider.
The interest rates can be as high as 60%, depending on the money lender. This is because the loan providers know that you could need the money right away and that you might not have done enough study to have a wide range of options available.
There is also the risk of the loan being collected with interest before and more aggressively after the due date if bank details were collected while you applied for the loan. Therefore, ensure you pay off the loan before the end of the stipulated period. If no time is stipulated, try to pay off the debt in the shortest amount of time.
Some loan lenders work under the money-lending section of Nigerian law, which does not allow a money-lender to collect the money before the due date. However, there is an allowance for these online loan lenders to freely access the loan and interest from your bank account. This leaves you in the wrong place if you cannot afford to repay your loan.
QuickCheck
This is a longtime loan lender and one of the best in the market. QuickCheck uses machine learning to determine the borrower's ability to repay loans and allows you to apply for loans and access these loans in minutes with a smartphone and the QuickCheck App. Interest rates could be anywhere between 1% to 21%, depending on the length and size of the loan period.
You can get a loan in 5 – 10 minutes, and the amount accessible with QuickCheck is 30% of your monthly income, and your ability to receive higher loans increases as you maintain your credit score and pay previous loans on time.
FairMoney
This is another longtime loan lender that allows you to borrow between ₦10,000 - ₦500,000 in 2 minutes with a 10% interest. This loan's maturity time spans 1 – 3 months, depending on the amount collected.
You can access this loan if you have a mobile app. There are other criteria like you have to be a Nigerian citizen and 18 years old.
KiaKia
KiaKia gives you access to loans between ₦1,000 - ₦200,000 within one hour with an interest rate of 5%. You can repay this loan in 7 – 30 days without extra fees. Standard qualifying criteria apply for this loan, including being above 18 years, having a bank account with your name, and having an identification card. To get the loan, you only need a mobile phone with an internet connection.
These fast cash loan lenders can approve your loans and payout today. To ensure you obtain the most satisfactory offer, you can consider applying for a quick loan from any loan provider.
