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Top 10 Fast Loan in Nigeria, their requirements how to apply, interest rates

Talking about loans,  a loan is being regarded as an important major source of funding that is among the vital main activities of financial institutions.

A loan is referred to as a sum of money or particularly other valuables that an individual, group of individuals, or other legal entity borrow from, be it another individual, group or a legal entity standing and acting as a financial institution with a fixed strong agreement that will be repaid at a later date with or without interest.

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Many people today have a lot of business ideas but are not able to go further because of a lack of funds and inaccessibility to get a reliable source of loan. Information Guides Nigeria

Top 10 Fast Loan in Nigeria, their requirements how to apply, interest rates

Worry no more. This article contains the top 10 fast loan issuers In Nigeria and how one can get their best services wit zero stress and fatigue.

Below is the top fast loan in Nigeria where you can get your loan at your best level of convenience with speedy response and quick access.

Read Also: 15 Leading Loan Sites in Nigeria, Their Requirements, Interest Rates and How to Apply

1. Lidya.Com

Lidya gives and guarantees you the maximum opportunity to expand your business and generate more income. Not that alone, Lidya goes another step further in providing finances based on the cash flow In your bank account without collateral. Divorce: stop, don’t stop

More to that,  you do not need to wait for your invoices to get paid in order to pay your expenses or grow your business, Lidya provides the options to turn every invoice into a revenue opportunity. You get instant notification in your email about the state of your loan process, there is no delay at all as all services rendered is fast, easy and secure. The platform is very safe and secure and it protects your data from any security breaches.

You can accelerate  your business growth with Lidya as there are lot of benefits for you like expansion opportunity, purchase inventory and many others. Fast Loan in Nigeria

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  • A working bank account with BVN
  • Upload your 6 months bank statement
  • A document to prove your ownership of business
  • Lidya does not require collateral to give you loans

How to Apply

First, sign up for Lydia via the website, select the type of loan you want to apply for, then get your loam deposited into your account.

You will receive a response within 24hours which means you do not have to wait for days or weeks in the application process like some other loans application.

Interest Rate

The interest rate of Lidya is calculated to be 3.5%.

Read Also: 10 Best Loans In Nigeria Without Collateral

2. Kiakia.co

The name Kiakia was coined out from a Nigerian language which means (fast fast). The swiftest place to get credit when needed at the realt time.

Kiakia is a peer to peer platform that is accessible to residents of Nigeria where by users can borrow or lend.


To qualify for their requirement and eligibility,

  • an applicant must be a resident of Nigeria
  • must be above 21years of age
  • must possess a BVN and an account holder with any of the commercial banks in Nigeria
  • must provide a valid means of identification IDcard,
  • must provide proof of income, sms, email, or screenshots of monthly income for the 6 recent months.
  • must have evidence source(s)  of income (either employed in the public or private sector or running his or her own personal business,

Kiakia loan amount limit is a minimum loan amount of 10,000 to a maximum of 200,000

Loan repayment duration is also important as the maximum loan tenure for first time borrowers is 30days,  however, the loan tenure can be increased based on your credit score and trust point to a maximum of 18 months. Stanbic IBTC Bank Graduate Digital Program 2021

3. Grofin:

Grofin provides Small and Medium Enterprise(SME) businesses and finance loans across Africa and even the middle east.

This makes Grofin one of the fast-rising financial institutions in Nigeria. They provide business owners with business support and quick loans.


  • The business must belong to you
  • You must have been operating your business for 2 years or more
  • Your business must be profit-oriented
  • You will need collateral to secure or get loans
  • Your business must be in any of the following African countries; Ghana, Nigeria, Egypt, Kenya, Tanzania, Rwanda, South Africa, Uganda, and Zambia.

How to apply for Grofin loan:

Visit their official website on www.grofin.com,  click on the menu icon on the far right corner of the page, select the loan that interests among which are business loans, women’s entrepreneur’s loans or business support.

Grofin funds release is lightening fast once you satisfy all the necessary requirement after reviewing your application.

Interest Rate

Their interest rate depends on the amount you are borrowing, however, the interest rate rises up to above 15% of the amount borrowed. Npower recruitment

Read Also: 10 Best Emergency Loans in Nigeria, Interest Rates, Requirements

4. One-fi:

Formally known as one credit. They offer short term consumer loans. With One-fi loan, you will definitely get a short term loan that would solve your funding problem.


The requirements are unique based on the credit products that interest you.

They have the pay later offer, the pay later plus offer, flex advance loan, and payroll offer.

All these offers would require a bank account that is yours and your BVN number.

How to apply

The application is done according to the product a borrower wants. All you need to do is download the app,  sign up to access the application panel, fill the form diligently with valid and verifiable information, upload your document and wait for your loan approval.

Interest Rate

One-fi’s interest rate ranges from 4 to 10% depending on the loan product. About the repayment, the loan tenure is between 3 to 6 months. They posses both offline and online methods of payment. One-fi is flexible and easy, you do not need any rigorous or strenuous application procedures. dollar to naira rate

5. C24

C24 limited is a microfinance institution established with the sole agenda of creating an avenue for people to access cash loans when they are needed.


  • You must be employed and must have worked for a minimum of six months before you tender an application, however, there are alternatives from which you can choose in unemployed.
  • You must be up to 22years of age to be eligible for the C24 loan
  • Possess a functioning bank account.
  • You will present a document with the following items: a recent clear passport photograph, a valid means of identification like your international passport, drivers license, national idcard,  a six month statement of your account.

How to Apply

To apply for the C24 loan, enter the C24 official website then click on either of the loan package that suits you desire, fill in the online application form and submit.  You will need to sign up an account with C24 before your request could be granted.

You will get a bank notification after 2 to 3 days of application showing the approval or disapproval of your application.

Interest Rate

The interest rate of C24 loan is 4% per month, you will also pay a one time 4%  (the amount you want to borrow) which is known as the administration fee.

C24 is fast and reliable, it does not come with strenuous requirement and you also do not need a collateral or a guarantor. WAEC result

6. Aella Credit

Aella makes borrowing super easy for everyone. Gone are those days where you must enter the banking offices and institutions before you can take a loan. Aella gives you all you want in five minutes on your mobile phone.


Basic information about you, name, tel phone, Email, your bank account details and your BVN.

How to Apply

Download the app, launch the app and pick a source, sign up, request for loan and wait for your loan which does not take much time you can get up to #90,000 loan. At the beginning you get small amount but as you pay back and move higher you begin to have access to bigger amounts

Alla operates a flexible and affordable interest rate.

Interest Rate

The monthly interest rate varies from 4% to 20% while the loan tenor is from 30 to 60 days to pay back.

There are no late or roll over fees.

Aella credit has made it its sole mission to offer affordable services in a fast and convenient way for all and sundry. JAMB form

Read Also: Loan in Nigeria; Top 20 Providers, Requirements And Conditions

7. Pay later

This is an easy and entirely online leading platform that renders and make provision of short term loans to individuals and small scale business in order to help them with cash needs. With Pay later, you are able to receive loans online with absolute ease.


  • An Android phone,
  • Applicant’s IDcard,
  • A passport photograph
  • An employment letter

How to Apply

Download the app, install the app, then you will be required to enter some information, BVN, home address, occupation etc, debit card details. Then you click on Apply for the loan. When the loan is approved, user receives money on the bank account between the moment of 10 to 20 minutes.

You need no collateral,  no paper work, no guarantor.

Pay later has greatly helped a lot of customers in getting loans and the more you pay on time, the more your range is opened wide to higher loan qualification.


QuickCheck is a modern lending and borrowing platform created for individuals and mainly small businesses. QuickCheck makes use of mobile technology to enable individuals get their loans easily as soon as possible. They provide loans with affordable repayment rates, their requirements are personal details of the applicants, an active bank account details with BVN and some other information that one can easily produce.


Zedvance is a consumer finance company that provides consumer credit to individuals. You can borrow up to 3 Million Naira in less than 24 hours.

The company specifically provides loans to salary earners but if you are a salary earner with a side business, you can as  also pick up the deal to finance your business use as well.

Read Also: 10 Best Loan App in Nigeria; Their Features, Benefits


Another is SMEDAN, a government-backed initiative that offers quick and easy business loans to Nigerian SME’s businesses that are in need of financial supports.  The  mission of the organisation is to promote entrepreneurship among Nigerians and also provide capital to start the business.

Apart from funding, SMEDAN also provides business owners with hands-on training and supports to help them in the running of their businesses. Their requirements is not different with the normal requiments items. They offer quick and rapid services. JAMB Result

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