9 Instant 20,000 Naira Loan in Nigeria (2023) » Voice of Nigeria
Do you urgently require a loan of 20,000 in Nigeria without the need for documentation?
We have some great offers available with low-interest rates, so look no further!
Loan apps are accessible for individuals and businesses to obtain loans without collateral or a good credit score.
They provide a convenient alternative to traditional lending institutions. They offer a convenient alternative to traditional lending institutions.
However, despite their convenience, many loan apps in Nigeria face trust issues, resulting in limited loan amounts, typically less than ₦5,000, especially for first-time borrowers.
Thankfully, there are multiple loan apps available that offer loans of ₦20K or more to borrowers who meet their requirements, regardless of their experience.
In this article, we will explore nine of these loan options that provide urgent loans of 20,000 Naira in Nigeria.
If you’re searching for an “Urgent loan of 20,000 Naira in Nigeria,” then join me as we explore the available offers.
Looking for a 20,000 Naira Loan in Nigeria? Check Out These Top 9 Loan Apps for 2023
1. Branch
Branch is a popular loan app in Nigeria that offers urgent 20K loans for students. With Branch, borrowers can access loans of up to ₦500,000 with a flexible repayment period of up to 15 months.
Although Branch does not offer loan features like loan extension and loan calculators like Fairmoney, the loans are collateral-free, and the app has over 10 million downloads on the Google Play Store. Branch loans come with competitive interest rates, making them a suitable option for individuals seeking quick loans.
To qualify for a loan from Branch, you must be a Nigerian resident with a valid bank account, BVN, and valid bank account details. To apply for a loan, download the Branch app from the Play Store or App Store, register, and fill in your personal and financial details. The application process is straightforward and hassle-free.
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2. Fairmoney
Fairmoney is a top-rated loan app that offers an urgent loan of 20,000 Naira without documentation in Nigeria. With this app, borrowers can access loans of up to ₦500,000 without collateral, and the repayment period can extend up to 6 months.
Fairmoney has gained immense popularity with over 1 million downloads on the Google Play Store due to its reliability and reasonable interest rates. Borrowers can also extend their loans until they can repay them and use the Fairmoney calculator to know their interest rate before applying.
The loan eligibility criteria are straightforward; all you need is a valid bank account linked to your BVN and some personal information. To apply for a loan, simply download the Fairmoney app, register, and provide your financial and personal details. The loan application process is hassle-free, making it easy for borrowers to access the funds they need.
3. Irorun Loan App
If you’re in quick need of an urgent loan of 20,000 Naira, Irorun loan app is worth checking out. This app specializes in providing small personal loans and offers a loan tenure of up to 30 days.
Irorun loan app has excellent customer support and is available for both Android and iPhone users on the Play Store and App Store, respectively. While the app charges a processing fee for its loans, the interest rates are reasonable and the approval and disbursal processes are swift.
4. Renmoney
Renmoney offers higher loan amounts with a repayment period of up to 24 months, making it a reliable option for individuals and businesses seeking loans in Nigeria. The app requires no collateral, guarantor or paperwork, and loans range from ₦5,000 to 6 million Naira.
To be eligible for a loan, applicants must be Nigerian residents between the ages of 22 to 59, have a verifiable source of income, a valid bank account and BVN. The application process is simple and can be done online via the Renmoney website or app.
5. Okash
Okash is a reliable loan app that can provide an urgent loan of 20,000 Naira. With this app, borrowers can access personal loans ranging from ₦1,500 to 1 million Naira without collateral.
Okash offers a fast loan approval and disbursal process, and the application process is straightforward, making it easy for borrowers to access the funds they need quickly. Moreover, Okash loans offer low-interest rates and flexible repayment terms, making them a suitable option for individuals seeking quick loans.
6. Carbon Loan App: Access Up To ₦1 Million Without Collateral
Carbon is an ideal loan app for small business owners looking for a quick loan of 20,000 Naira or more in Nigeria without collateral. The app allows borrowers to access up to ₦1 million without any documentation.
Carbon loans offer competitive interest rates and flexible repayment terms of up to 6 months. The app has over 1 million downloads on the Google Play Store, with good ratings, making it a reliable option.
To qualify for a Carbon loan, you need a valid bank account, a BVN, and some personal information. No collateral or guarantor is required, making the loan application process quick and hassle-free.
Apart from loans, Carbon also offers other financial services, such as savings, bill payments, airtime purchases, and more.
7. Quick Checks
The final loan app on our list is Quick Checks, which provides instant personal loans of up to 20,000 Naira in Nigeria within minutes. Although not as well-known as some of the other options, Quick Checks offers a straightforward application process without requiring collateral or a guarantor.
Start using Quick Checks for a hassle-free loan application process. Download the app, create a user account, and apply for a loan in just a few clicks. The app’s user-friendly interface ensures that the process is quick and easy, making it a convenient option for borrowers in need of urgent funds.
8. PalmCredit
For those seeking loans of 20,000 Naira in Nigeria, PalmCredit is a reliable option to consider. The app gives loans up to ₦100K, with a maximum repayment period of 180 days. It has been downloaded over a million times on the Google Play Store.
While the application process is straightforward, some borrowers may find the interest rates on PalmCredit loans to be too high. To get a loan on PalmCredit, you need to be a Nigerian resident aged 18 to 55 with a valid bank account and a Bank Verification Number (BVN).
To apply for a loan, simply download the PalmCredit app, register, and provide your personal and financial details. The loan approval process is quick, and borrowers can receive their funds within minutes of approval.
9. KiaKia
KiaKia is a unique Peer-to-Peer lending platform that provides borrowers in Nigeria with 20K loans at very low-interest rates. The platform offers a simple loan application process, and borrowers do not need to provide any collateral.
Unlike other loan apps on this list, KiaKia only offers loans through their website, but the process is straightforward and user-friendly.
In conclusion, loan apps present a convenient and fast way for individuals in Nigeria to access loans of up to 20,000 Naira. While there are several loan apps available, some may only offer low loan amounts. The list provided in this post contains loan apps that offer 20,000 Naira loans without requiring extensive documentation.
By exploring the options discussed above, you can find the perfect answer to the question of how to get a 20k loan instantly in Nigeria. It’s important to compare the loan apps before making a final decision to ensure that you select the one that best suits your needs.
