Top Personal Loan Options In Nigeria For Students

A monetary crisis is something that can transpire whenever without earlier sign. It can come in different structures like an abrupt medicinal prerequisite or the need to supplant a basic machine. What’s more, some of the time, in the event that you are not arranged well, these crises can turn into the most unpleasant encounters of your life.

Yet, there is a proficient method to handle such an emergency and, that is by taking an individual credit. Such a credit will let you deal with the circumstance promptly and take care of the cash later.

This article talks about taking an individual advance in Nigeria and subtleties the 4 best alternatives.

Best Personal Loan Options in Nigeria

Having made plans to decide on an individual advance, the subsequent stage is to settle on an educated choice. There are a few factors that you have to consider before taking an individual credit. The financing cost and advance sum must be reasonable for your necessities. Also, you would need to choose an advance which gives you the most reduced conceivable rate for the particular credit time frame. Else, you may wind up with progressively budgetary weights as opposed to dealing with them.

The following significant interesting point is the source from which you take the advance. It must be confirmed and tenable. In Nigeria, there are numerous choices accessible in the market for an individual credit. Try not to get influenced by the multitudinous guarantees made by certain organizations, rather expect to pick astutely.

This article explains on 4 best close to home credit choices in Nigeria with the goal that you can increase some knowledge on the issue. Peruse on to know more.

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1. Kwikmoney

As the name of the company suggests, Kwikmoney is all about issuing quick, short term loans for your sudden financial requirements. It offers services through both an internet-based app and USSD loans. Kwikmoney actually partners with various banking institutions, technology organizations and mobile operators so as to give convenient, easy and affordable personal loan services to the Nigerian population.

Through Kwikmoney, you can avail of loans up to N15,000 and the interest rates start from 5% and go up till 15%. The loan repayment period varies from 15 days to a month. Check out their website ( for more details. Alternatively, you can call them at +234 (0) 1 700 2274.

2. Renmoney

Renmoney lends its customers loans ranging from N50,000 to N 4 million and their interest range varies from person to person. It is dependent on the loan amount and the repayment period. However, for cash loans the interest usually varies from 4% to 12% (or a little higher) and the loan tenure is 3 to 12 months.

Operating since 2012, Renmoney requires the applicant to be between the age of 22 and 59, have a steady income source and hold a bank account (savings or current) for issuing the loan.

For more details, please visit their website ( or you can call at 0700 5000 500.

3. Aella Credit

An app-only loan crediting company, Aella Credit disburses quick personal loans to the tune of N1500 to N90,000. These loans can be repaid within a period ranging from 30 to 60 days, at an interest rate varying from 4% to 29%.

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Aella Credit is especially committed to the female applicants and has a very simple 3 step loan application process via an android app. To know more, please visit their website ( or write to

4. Rosabon Finance Quick Loan

The Rosabon personal loan is one of the most popular and reliable loan option without collateral requirement in Nigeria. They issue loans ranging from N100,000 to N1.5 million for a period of 1 to 8 months. The interest rate depends on the loan amount but is typically within 4-6% for lower amounts.

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Author: Sunday Idika

A graduate of Computer Science at Godfrey Okoye University. Writer at bitveng, scholarship hunt, content creator, music lover and Web Designer.

17 thoughts on “Top Personal Loan Options In Nigeria For Students

  1. I need this loan but since all this days have been trying it but they are telling me that my loan cannot be approved now that I should try again 3days after that giving me if I still try it they will still tell me the same thing why are they doing like that

  2. I need urgent loan #200,000 repayment 6- months plus interest, will accept any condition on interest, even if it’s 100%, meaning I am willing to pay back #400,000 in 6- months!

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