Prior until now, the typical process for obtaining a loan involved opening a bank account, visiting the bank, meeting with your account officer or the bank’s lending officer, completing a loan application, and then waiting, in the hopes that your loan would be accepted. Not to mention that there is a tonne of paperwork involved; occasionally, you will need a lawyer.
Thankfully, you may apply for a loan online and have an answer in as little as 20 minutes. Customers have a variety of options when requesting loans from different banks and financial institutions. The most popular ones are USSD codes, offices, websites, and applications for mobile loans. I find using USSD codes to be the most practical and straightforward technique out of all of these.
An exhaustive list of all USSD codes for loans in Nigeria from banks, microfinance institutions, and financial institutions is provided in this article. It’s simple to sign up for this site, and it’s quick to seek loans using USSD numbers.
Check out the interest rate, terms, and conditions of a loan before applying quickly. You should also evaluate multiple loan platforms to choose the best one for you.
Let’s quickly review USSD and USSD Banking before discussing the USSD codes for loans in Nigeria. You can skip directly to the information you’re looking for if you’re pressed for time.
What is USSD?
Unstructured supplemental service data is known as USSD. Although it could seem challenging and quickly become technical, there are two essential concepts to comprehend for financial inclusion. First, USSD is used when you dial a number that starts with * and ends with #. Second, the finest communication technology available today for providing mobile financial services to low-income users is USSD.
Callbacks, mobile money, content, information, and network settings are just a few of the uses for USSD. We’ll examine how using USSD in banking can be done in this circumstance.
What is USSD Banking?
Users can conduct transactions using USSD Banking on their phones without first connecting to the internet. By dialling the *99# code, users who don’t have a smartphone or data/internet access can use mobile banking. USSD-based mobile banking allows for the production of bank statements, checking account balances, and fund transfers.
The revolutionary *99# payments service’s main objective is to promote financial inclusion and mainstream banking among the underbanked and economically disadvantaged segments of society.
USSD codes for loans in Nigeria
The full list of USSD codes for loans in Nigeria is provided below. Three categories—Bank USSD codes, Telecommunication USSD codes, and other financial organisation USSD codes—are used to organise the list.
Bank USSD codes for loans
- AB Microfinance Bank (*389*755#)
- Access Bank Payday Loan (*901*11#)
- Accion Microfinance Bank (*572*6#)
- ALAT Loan By Wema Bank (*945*100#)
- Ecobank Xpress (*326#)
- FCMB (*329#)
- First Bank First Advance (*894*11# or *894#)
- GTBank Soft Loan (QuickCredit) (*737*51*51#)
- Interswitch (*322#)
- UBA Loan Code (*919#)
- Unity Bank Loan Code (*7799#)
- Zenith Bank Loan (*966#)
Network Providers Codes for loans in Nigeria
- MTN Cash (*606*4#)
- Glo Cash (*322*1*04225701*Amount#)
- Airtel Quick Cash (*561#)
- Etisalat (*561#)
Other Microfinance and Organization USSD codes for loans
- Quickteller Loan (Airtel, MTN & 9mobile) (*322#)
- Quickteller – Glo Users (*805#)
- Paga (*242#)
- Fairmoney Loan (*322*2#)
- Trader Moni (*540#)
- Aledin Nano (*903#)
- Carbon Loan (*1303#)
- Payattitude (*569#)
- Kwikcash (*561#)
- Migo Loan (*561#)
- Paylater USSD Code (*1303#)
Requirements for Getting Loans Using a USSD Code
As I previously indicated, before beginning to lend money, you must register with any loan site. Of course, you may register using your phone as well, but there are a few requirements before you can approve a loan.
If you already have an account with a bank or a network provider, you do not need to create another one. However, certain financial institutions that don’t have any information about you require registration. Most of these financial institutions ask for the following information:
- Your Name
- BVN
- Account Details
- Address, and some other information.
And don’t forget that you have to check each loan provider’s interest rate and run away from anyone that charges you very high interest.
