How to Get Personal Loans Online with your Mobile Phone the Easy Way

There are now several quick loan schemes available in Nigeria, while most often require putting up assets as a collateral, and proper documentations, including bank verification, but here we will be highlighting those personal loan schemes that requires no collateral, and no paper works, only requires your mobile phone.

And yes, you heard it right, it requires only your mobile phone, with the Internet haven changed how transactions are done, you can easily get loans online without requiring any extra documentation.

Below are our top 3 sources for personal loans online without the need of visiting any bank for documentations.

  • KwikMoney: is a partnership between technology companies and banks to bring convenient and accessible loan facilities to all Nigerians, haven made it absolutely easy for anyone to apply for personal loan without the need for paper works or collateral, with only the mobile phone number.

  • The Kwikmoney instant loan service gives loan of up to N500,000, with tenor between 14-30 days and low interest rate of 5% to 15% while offering higher amounts with each successful remittance, as the system is programmed to reward you with higher loan as you take loans and repay at the stipulated tenor.

    To apply for KwikMoney loan, simply dial *561# on 9mobile (*554*561# for Glo, MTN and Airtel networks) and navigate to "Request Loan" or you can visit and enter your phone number to be assessed for the loan eligibility.

  • PayLater: is another quick and convenient personal loan service that is easy to access from your mobile phone. It requires an Android smartphone and valid Bank details, with interest rate as low as 5% to 30%, depending on your credit rating and the loan tenure of 15 days to 6 months.
  • KiaKia: this loan service employs a chatbot to take you through the process eligibility via online registration and other requirements needed to get your personal loans.

  • The requirements include valid work ID card and banking details, with interest rate between 5.6% – 24% and loan tenure of 7 to 30 days.
These quick online loan schemes have made it really easier for individuals to access loans in Nigeria, and perhaps, you too will find them handy if you should need a quick loan to sort some emergency financial obligations.

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