Nigerians looking for a quick influx of cash to meet expenses have various options to shop for the best loans to suit their needs amongst licensed commercial banks.
Rather than going to loan sharks or borrowing from questionable loan application sites, these payday loan offers may be great for you, particularly if you are a salary earner.
Nairametrics reported that the Central Bank of Nigeria told individuals in need of funds to desist from borrowing from loan sharks and go to banks instead.
To access a loan for your business, the Central Bank Governor stated that “you don’t need to know anybody, just go into the portal, fill the form, send your data. If your data is correct you would be able to access loans.”
Considering Nigeria’s recent inflation figures of 15.63% (an uptick from 15.4% recorded in November 2021), it is understandable that the average salary earner may be having difficulties meeting daily transitionary obligations. Given the current economic situation, it would be prudent to examine loans that the average Nigerian can access with ease and at affordable rates.
17 commercial banks had approached the CBN seeking to restructure their loan books due to the adverse effects of the pandemic as bank defaults. However, amid the risk, some banks are still giving out loans, especially payday loans.
GTBank’s Quick Credit
Zenith Bank’s Term Loan
Access Bank’s Payday Loan