August 18, 2023



An online moneylender that provides single payment loans, installments loans and payroll loans for borrowers through their employer. The money borrowed is then deducted from their monthly salary. The minimum amount to borrow is N10, 000 and the upper limit for a new customer is N500, 000. The size of the loan and the interest charged is determined by the information given out by your employer such as salary, length of service and your position. The loan can be up to 50% of your monthly salary and the repayment period is between 3 months and 6 months. Once you decide on the amount you want and you have set up your repayment schedule money is then sent to your salary bank account instantly.

The requirements are your ID, utility bill, passport photograph, 3 months bank statements and an employment letter or promotion letter or contract review. You also need your employer’s approval.


It offers services as a medium for employers who do not want to give direct loans to their employees, by giving them instant access to cash with no paperwork. It also allows the user to take another loan even with a running loan but you cannot borrow beyond your credit limit. The requirements are employer registration and valid details. The repayment period is one to wele months. Monthly loan repayments are deducted from salary.


It makes use of a chatbot that takes you through the process of registration and other activities towards acquiring your personal loan. You must have a work identity card before you can access a loan on KiaKia. You can also choose to register as a lender. The interest rates are between 5.6% and 24%. The repayment period is 7 to 30 days. You repay using a debit card and direct deposit.


It is a marketplace that matches lenders to creditworthy borrowers. The minimum amount of personal loans given out is N60, 000 and the interest rate is based on the borrower’s risk score. A Tax Identification Number is requested during registration hence you cannot access the service if you are not a taxpayer. You will also need to pay N3, 000 as risk assessment token. The requirements are valid bank details, valid ID card and bank statements. The interest rates are between 9% and 39%. The repayment period is between 2 and 12 months. You use debit card or direct deposit when it comes to making payments.


Part of the process of applying for a loan online on Zedvance includes uploading some supporting documents. The requirements are valid bank details. The interest rates are between 7.5%  to 58%. The repayment period is between 1 and 12 months. You can use cheques and direct deposit to repay the loan.

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