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Olamide Famuwagun

Bank Verification Number (BVN) | What is BVN?

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The Bank Verification Number (BVN) is a special code that everyone who has a bank account in Nigeria gets. It’s like a secret number that helps keep your money safe.

The Central Bank of Nigeria started this in 2014. This special number, which has 11 digits, is like a magical key that only you have. It makes sure that nobody else can pretend to be you and take your money.

You might be curious about why BVN is crucial. It helps keep your money safe by letting banks communicate securely.

This ensures that your savings are protected. Also, it’s very important because it makes going to the bank quicker and easier, so you don’t have to wait a long time.

Now, let’s dive into more details!

What is BVN?

The Bank Verification Number (BVN) is a unique identification number. It is assigned to each bank customer in Nigeria. It was created to ensure safe and quick banking.

It’s an 11-digit number that acts as a universal identifier across all financial institutions within the country. The Central Bank of Nigeria introduced this system to enhance banking security. It makes it harder for fraud and simplifies banking services.

BVN

How BVN Works in Nigeria

Nigeria’s Bank Verification Number (BVN) system gives each bank customer a unique ID. It ensures secure and fast banking.

You get a BVN by visiting any bank. You fill out an enrolment form and submit it. You also present yourself for biometric data capturing. This includes capturing fingerprints and a facial image.

Upon submission, the system issues an acknowledgment slip containing a transaction ID. Within 24 hours, the system checks the application and makes the BVN. Then, it tells the customer via SMS to pick it up.

Importance of BVN

Your BVN is important for the following reasons:

1. BVN reduces the risk of fraud in the banking sector

Each bank customer’s identity is linked to a unique number. All banks verify the number. This makes it much harder for fraud to occur.

This system helps detect and prevent identity theft. The biometric details linked to a BVN are nearly impossible to forge.

2. It enhances security

The BVN’s biometric identification process is linked with it. It makes banking more secure. Traditional security measures like passwords and PINs can be compromised.

But, biometric traits like fingerprints and facial recognition offer better security. They make banking transactions more secure.

3. It promotes transparency in banking operations

The BVN system promotes transparency within the banking system. It makes tracking transactions and accounts easier. This helps regulators monitor and stop illegal banking.

4. It improves customer experience

With the BVN, customers enjoy a more streamlined banking experience. Customers no longer need to provide many IDs when dealing with different banks.

The BVN serves as a universal ID across all banks in Nigeria.

5. The BVN system supports the drive for financial inclusion 

This is possible by ensuring that banking services are accessible to all segments of the society securely. It makes it easier for people to open new bank accounts.

This encourages more people to join the formal banking system.

6. The BVN aids banks in complying with local and international banking regulations

This is mainly about Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements. This compliance helps build trust with international financial institutions. It also improves the global reputation of Nigeria’s banking sector.

7. Ease of banking services

The BVN made banking better. It led to new services, like digital banking. It gives a reliable way to identify customers for online and mobile banking. This improves convenience for users.

While the BVN is generally a requirement for most loans, there might be exceptions. Check out my article on loans without BVN for more details.

How To Register For Your BVN

To register for your BVN, follow these steps:

Step 1: Visit a Bank Branch or Authorized Registration Center

The first step is to visit your bank branch or an authorized BVN registration center. These centers have the necessary technology for the registration process.

Step 2: Provide a Valid Means of Identification

When you arrive, you’ll need to present a valid official identification document. You can use your National ID Card, Driver’s License, Voter’s Card, or International Passport as your ID.

It’s crucial that the ID is current and clearly shows your full name, date of birth, and a clear photograph​​.

Step 3: Biometric Data Capture

You will register by giving your biometric data. This data includes fingerprints and a facial photo. This step is essential for creating your unique identity within the banking system​​.

Step 4: Acknowledgement Slip

Once they capture your biometrics, you will be given an acknowledgment slip. This slip confirms that we captured your biometric data.

Step 5: Receiving Your BVN

Within 24 hours of the submission, your unique 11-digit BVN will be mad and sent to the phone number you gave when you registered, via SMS.

BVN

Here are 5 ways to link your BVN to your bank account:

1. Visit Your Bank Branch:

You can visit any branch of your bank and request to link your BVN to your account. You will likely need to fill out a BVN linkage form, provide your BVN and needed ID, and then submit the form to the officer.

2. ATM:

Some banks offer the option to link your BVN via their ATMs. Insert your debit card, enter your PIN, and look for the BVN linkage option in the menu. Follow the instructions to input your BVN.

3. Bank’s Mobile App:

If your bank’s mobile app has the functionality, you can link your BVN directly through the app. Look for the BVN update or linkage option within the app, enter your BVN, and follow the instructions to complete the process.

4. USSD Code:

Some banks provide a USSD code service for BVN linkage. You would dial a specific code and follow the prompts to enter your BVN and link it to your account.

The exact code and process depend on your bank, so check with your bank for the correct USSD code.

Bank’s Website or BVN Portal:

Some banks may offer a dedicated portal on their website for BVN linkage. You would need to visit the website, find the BVN linkage portal, enter your account details and BVN, and submit the form.

FAQs

How do I get a BVN account? 

To get a BVN account, visit any bank branch in Nigeria with a valid ID (passport, driver’s license, voter’s card, or national ID). Complete an enrollment form, submit it, and have your biometric data captured.

How do I check my BVN number? 

You can check your BVN number by dialing *565*0# from the phone number you used for registration. Your phone will display your BVN on its screen. Charges apply. You can check out our full guide on how to check BVN.

How do I access my BVN account?

Your BVN doesn’t provide access to a separate account. Instead, it links all your bank accounts under one identity. To access your BVN through your linked accounts, use your bank’s internet banking, or mobile app, or visit a branch.

Conclusion

The BVN system is a cornerstone of modern banking in Nigeria. It is a big step toward making banking and finance more honest and reliable. It provides a secure and fast way to identify and verify customers.

It supports the country’s push for a fairer, safer, and better financial system. The system will keep evolving.

It will further strengthen the foundation for digital finance in Nigeria. This will enable more innovation and access in banking.

Filed Under: Bank Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

How To Check Your Airtel Number in 4 Ways (2024)

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Have you lost your Airtel number? Don’t sweat it! Find it in seconds with this easy guide.

Ever felt like a fish out of water when someone asks for your phone number, and you draw a blank? We’ve all been there.

But don’t worry; whether you’re a seasoned Airtel user or just starting, this guide will show you how to check your Airtel number.

Knowing your Airtel number is crucial for staying connected with loved ones but also for checking data balance, transferring airtime, and even checking your NIN.

So, keep reading and discover the different ways to find your Airtel number in a flash!

1. Check Airtel Number Via USSD Code

To check your Airtel number with a USSD code, dial *121*3*4# on your phone with an Airtel sim and press the call button. Within seconds, your Airtel number will pop up on the screen.

how to check Airtel number with USSD code

2. By Calling Customer Care

Dial 121 or 198 from your Airtel phone and follow the prompts. The automated voice system will guide you to retrieve your number, or you might be connected to a helpful representative who can assist you further. You can also reach Airtel customer care here.

3. Check Your Airtel Number By Calling Another Number

An easy way to know your Airtel number is to call another number with your Airtel sim. From the caller ID shown on the person’s screen, you’ll see your number.

How to Check Your Airtel Number With SMS

Airtel does not provide a direct method to check your number via SMS. The above methods are the most efficient ways to find your Airtel number.

Conclusion

You can check your Airtel number by using the USSD code (*121*3*4#), calling customer care, or calling another number. It’s a straightforward process. Choose the method that suits you best, and you’ll have your number in no time.

Filed Under: Business Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

How To Share Airtime on Airtel: A Comprehensive Guide (2024)

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Sharing airtime with loved ones has never been easier thanks to Airtel’s Me2U service! Whether you’re experienced or new, transferring airtime on Airtel can be confusing, however, we’re here to help.

This guide explains all you need to know about the Airtel airtime transfer and most importantly how to share airtime on Airtel.

Airtel logo

There are three main ways to share airtime on Airtel:

1. USSD Code

  • Dial *432*recipient’s Airtel number*amount of airtime# on your phone (e.g., 4320802XXXXXXX*500# to send ₦500 to 0802XXXXXXX).
  • Press the call button.
  • Wait for a confirmation message.

2. Airtel App

Download and install the Airtel app from the Play Store or App Store.

  • Log in using your Airtel number and navigate to the “Me2U” or “Share Airtime” section.
  • Enter the recipient’s number, transfer amount, and your PIN.
  • Confirm the transfer and wait for confirmation messages on both phones.

3. SMS

Send an SMS in the format “2u [recipient’s Airtel number] [amount] [PIN]” to 432 (e.g., “2u 0802XXXXXXX 500 1234” to send ₦500 with PIN 1234).

Important Points to Remember:

  • The recipient’s number must be on the Airtel network.
  • The minimum transfer amount is ₦50.
  • There are no service fees for using Me2U.
  • The default PIN for airtime transfer is 1234, but strongly recommended to change it for security reasons.

How To Transfer Airtime From Airtel to Airtel (Me2U)

To transfer airtime on Airtel, follow these steps:

1. Open your phone and dial *432#.

2. Select option 1 for “Airtel to Airtel” transfers.

3. Enter the Airtel number you want to transfer to

4. Choose the amount you want to share, keeping in mind the minimum limit of N50 and your available balance.

5. Enter your 4-digit PIN to authorize the transfer. (Don’t forget to change it to a more secure one later!)

6. You’ll receive a confirmation message once the transfer is successful.

Tip: Want to transfer data instead? No problem! Dial *312# and follow the prompts to access Data Me2U and share a portion of your data bundle.

Airtel transfer code dialled, *432#
Airtel airtime transfer prompt
Airtel airtime transfer prompt
Airtel airtime transfer prompt

How To Transfer Airtime From Airtel To Other Networks

You can share airtime with other networks (Glo, MTN & 9Mobile) using *432#. Select option 2 for “Airtel to other Networks” and follow the prompts. Remember, there might be additional charges for these transfers.

There are loads of other things you may want to do with your Airtel line. You can borrow airtime, borrow data, and even check your Airtel number.

Airtel Airtime Transfer Code

To share airtime on Airtel, just dial *432#. Add the recipient’s Airtel number and the amount you wish to transfer. Then end it with #.

For example, to send N500 to an Airtel number 0802XXXXXXX, dial *432*0802XXXXXXX*500#. Press the call/send button to initiate the transfer.

You and the recipient will get confirmation messages. You’ll get them once the transaction is done.

How to Share Bonus Airtime on Airtel

You cannot transfer the Airtel airtime bonus directly to another user. However, you can use the Airtel Me2U service to share regular airtime with others.

Airtel Transfer Transaction Limits and Charges

Airtel has no service fees and no limits on the number or amount of airtime transfer transactions.

Also, there’s no need for a subscription or any extra steps. This approach ensures that Airtel customers can share airtime with friends and family.

They can do so freely. They can do so without worrying about extra costs or limits. 

Forgot Your Airtel PIN?

If you forgot your Airtel pin, reset it by dialing *432# or sending “RESET PIN” to 432. But be careful – exceeding the wrong PIN attempts can temporarily lock your service.

Troubleshooting Tips:

  • Airtel Airtime Transfer Failed? Check your balance, recipient’s number, and PIN for any errors. If the issue persists, call Airtel customer care at 300.
  • Can’t Change Your Airtel PIN? Ensure you’re using the correct code and format. If it still doesn’t work, contact Airtel customer care.

Me2U Airtel

Me2U is a service offered by Airtel. It allows Airtel subscribers to share airtime with other Airtel users. This feature is particularly useful for helping out friends or family members.

They might need airtime urgently. It’s a user-friendly service. You need a transfer code and a personal identification number (PIN) to use it. This ensures security.

Learn more: how to buy data on Airtel

Default PIN for Airtel Airtime Transfer

The default PIN for Airtel airtime transfer is 1234. Airtel recommends that each customer should change this PIN for security reasons.

Eligibility & Requirements to Transfer Airtime on Airtel

To transfer airtime on Airtel, you must meet the following eligibility requirements:
1. Have a registered Airtel SIM card.
2. The SIM card must be active for at least three months before requesting a loan

How To Change Airtel Transfer PIN

  • Dial *432# on your Airtel line.
  • Select option 3 for “PIN Management.”
  • Choose option 1 for “CHANGE PIN.”
  • Enter your current PIN
  • Enter your new PIN twice for confirmation.
  • You’ll receive a confirmation message once your PIN is changed successfully.

Airtel Customer Care

The Airtel customer care number is 300. If you’re not using an Airtel phone or are abroad, you can also reach them at +234 8021500300, +234 8021500743, +234 8021502020, or +234 8021520800.

Additional Tips

  • To Borrow Airtime On Airtel: Dial *500# to access this service (terms and conditions apply).
  • To Check Your Airtel Balance: Stay informed by dialing *140# to check your airtime and data balance.
  • Change your Me2U PIN: Dial *432# and select “PIN Management” followed by “Change PIN.”
  • Transfer airtime to other networks: Dial *432#, select option 2 for “Airtel to Other Networks,” and follow the prompts (additional charges may apply).
  • Check your Airtel balance: Dial *140#.
  • Forgot your PIN? Reset it by dialing *432# or sending “RESET PIN” to 432. Be cautious, exceeding wrong PIN attempts can temporarily lock your service.
  • Troubleshooting: If you encounter issues, contact Airtel customer care at 300 or visit their website for further assistance.

FAQs

How do you transfer airtime on Airtel for the first time?

For your first airtime transfer on Airtel, change the default Me2U PIN to 1234. You can do this either by sending an SMS in the format “PIN [default PIN] [new PIN]” to 432 or by dialing 432# and following the instructions.

Once the PIN is set, use the same USSD code 432# to transfer airtime, or send an SMS in the format “2u [Recipient’s Phone Number] [Amount] [PIN]” to 432​​.

Can you transfer Airtel airtime to a bank account?

Direct transfer of Airtel airtime to a bank account is not available. However, Airtel users can recharge their line from their bank accounts by dialing *444#. This service allows you to recharge airtime or data for your Airtel line or for another Airtel number using your bank account.

Conclusion

Remember, the code to transfer airtime on the Airtel network is *432#. Dial *432*recipient’s Airtel number*amount of airtime#.

Filed Under: Guides [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

How To Borrow Money From OPay(Okash Loan), 2024

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Need a financial boost without the hassle?

OPay’s Okash app might be your hero.

This mobile loan app lets you borrow money on the go, legally and conveniently.

I’ll show you how to borrow money from OPay (Okash loan) in this guide.

So, ditch the stress and discover how Okash can help you bridge the gap and get the funds you need!

How to Borrow Money From OPay

To borrow money from OPay, dial *995# using the phone number you used to register with your OPay account. Then select “Loans” from the options. Next, follow the on-screen instructions to complete the application. Lastly, upon approval, receive the loan amount directly in your OPay wallet.

How to Borrow Money From OPay Via Okash App

  • Download the OPay loan app on your smartphone.
  • Ensure your BVN and other required information are linked to your account. (See, how to check BVN)
  • Tap on the “Loans” section within the app.
  • Select the loan product you’re interested in.
  • Apply for the loan.
  • If approved, receive the loan amount directly in your OPay wallet.

Note: You need to already have an OPay account for this to work. If you don’t know how to create one, check out my guide on how to open an OPay account.

BVN can sometimes be an hassle, which is why I have a list of top 10 loan apps in Nigeria you can borrow money from without BVN. Check it out!

Opay Loan Requirements

The requirement to borrow a loan on OPay is easy:

  1. The applicant must be a Nigerian resident
  2. The age bracket of the applicant has to be in the range of 20-55 years.
  3. The applicant needs to have a source of monthly income or state the reason why he or she wants the loan.
  4. Valid ID Card
  5. BVN Number

Opay Loan Code

Remember, the OPay loan code is *995#. Simply dial *955# from your registered phone number and follow the prompts to apply for your loan.

Still unsure of the OPay loan? Or you need another alternative?

Well, check out how you can borrow money from Palmpay!

Okash Loan Interest Rate

Rates range from 0.1% to 1% daily, 5% to 10% monthly, and 36.5% to 360% annually.

Expect origination fees ranging from N1,299 to N6,000.

The duration of the loan is 91 days for the shortest tenure and 365 days for the longest tenure.

How To Repay OPay Loan

If you get a loan, you’d need to repay the loan. Follow these steps to learn how to repay an OPay loan:

  1. Open the OPay loan app.
  2. Log in with your phone number and password.
  3. Go to the “Loans” section.
  4. Select the loan you want to repay.
  5. Choose your preferred payment method (OPay wallet, linked bank account, or debit card).
  6. Enter the payment amount and confirm.
  7. You’ll receive a confirmation message upon successful repayment.

Maximum or Minimum Amount You Can Borrow on OPay

The current maximum loan amount on Okash is N50,000, while the minimum is N3,000.

However, OPay Merchant Loan offers short-term loans of up to N1 million and long-term loans of N5 million.

How Much Can I Borrow from OPay for the First Time?

The amount you can borrow from OPay for the first time depends on your credit history and transaction records.

OPay evaluates these factors to determine your eligibility and loan limit.

Can I Borrow Money from OPay Without BVN?

No, you can’t. Borrowing money from OPay generally requires a Bank Verification Number (BVN).

The BVN is crucial for verifying your identity and maintaining financial security.

With the OPay app, you can do a range of other things, like saving!

Saved-up money can sometimes be a hard temptation to resist, so how about you check out my guide on how to lock money on OPay

Final Thoughts

Conclusively, borrowing money from Okash is easy and can help you when you need finances.

Now that you’ve read my guide, I’m sure the OPay loan application will be a breeze.

Remember, before getting a loan, carefully check the rules, and use our tips to increase your chances of approval.

Filed Under: Mobile Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

How To Unshare Data On Glo in 3 Easy Ways (USSD Code)

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Accidentally shared your precious Glo data with someone who’s been streaming non-stop? No worries, we’ve all been there. Unsharing data on Glo is the trick.

In this guide, we’ll explore 3 easy ways you can unshare data on Glo.

Keep reading!

How To Unshare Data on Glo Using USSD Code

Dial *127*02*recipient’s number (replace “recipient’s number” with the contact you want to remove). Then press “send”.

How to Unshare Data on Glo With SMS

Send an SMS with the following text to 127:

  1. Remove <phone number>
  2. Replace <phone number> with the phone number of the person you want to unshare data with.
  3. Once you have unshared data with someone, they will no longer be able to use your data plan.

To check the list of people currently sharing your data, dial *127*02# or send “List” to 127.

Conclusion

You can unshare your Glo data from any number using the steps above. But, note that if you do not receive a response from Glo, your network is poor. So, wait for a while and then try it again.

If you’re also interested in managing your Glo airtime, learn how to transfer airtime on Glo. Keep your Glo services in check with these useful tips!

Filed Under: Business Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

Loan App in Nigeria with Low Interest? The Top 10

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If you’re here it means you’re looking for affordable options with loans in Nigeria.

This article doesn’t give a list of all the loan apps with low interest rates. Instead, we have carefully selected the best loan apps with low interest rates in Nigeria.

Let’s get into it.

1. Carbon Loan App

Carbon offers personal loans up to ₦500,000 with interest rates from 1.75% to 30%. Apply with no trouble at all and get funds.

The Annual Percentage Rate (APR) ranges from 23% to 60.8%, and you can make repayments over 64 weeks.

<<Learn More – What You Need To Know About The Carbon Pay Later Loan

Carbon loan app

2. Fairmoney Loan App

With the FairMoney online loan app, you can get flexible personal loans ranging from ₦1,500 to ₦3,000,000.

Repayment periods range from 61 days to 18 months. Interest rates vary from 2.5% to 30%, and funds are usually disbursed within 5 minutes.

You don’t need collateral or paperwork; funds are transferred to your bank account.

<<Learn More – How To Apply For a Fairmoney Loan in Minutes

Fairmoney loan app

3. P2Vest Loan App

Thep2Vest loan app enables you to sign up with valid credentials and request a loan. If approved, the loans get disbursed.

You can choose repayment terms up to 180 days based on your eligible loan amount. Their interest rates are dynamic based on your risk ratings and credit score.

P2Vest loan app

4. Aella Credit Loan App

You can access non-collateralized loans up to N1,000,000 with the Aella Credit loan app.

You pay only what you owe with no late fees attached and there’s a reward for repaying your loans on time.

The monthly interest rate on the Aella app ranges from 2% – 20% and APR from 22% – 264%/annum. For example, a loan of ₦100,000 on the Aella App has a fee of ₦15,000 after 180 days.

<<Learn More – Aella Credit – What You Should Know

Aella credit loan

5. Branch Loan App

The Branch loan app lets you get instant loans up to ₦500,000. The loan tenure ranges from 62 days to 1 year. Interest rates range from 2%-18% depending on the risk profile of the customer.

<<Learn More – Branch Loan – How To Get A Loan From Branch

Branch loan

6. PalmPay Loan App

The PalmPay loan app offers loans up to N200,000 without any need for paperwork or collateral. The interest rate on the app is between 15% to 30%.

It varies within that range depending on the amount of loan you obtained and your credit score.

<<Learn More – How To Borrow Money From Palmpay in 2024

Palmpay loan

7. Opay (Okash) Loan App

The Okash loan app gives amounts from NGN 3,000 to NGN 500,000 with fast loan approval and no documentation. Repayment of your loan is from 91 days to 365 days.

The daily interest rate is between 0.1% to 1%, while the annual interest rate is between 36.5% and 360%. For example, in 91-day loan payment terms, the interest is 9.1%.

<<Learn More – How To Borrow Money From Opay in 2024

okash loan

8. Palmcredit Loan App

Palmcredit offers loans from NGN10,000 to NGN300,000 with an 8% interest rate.

You can repay your loans via Palmcredits’ online or offline channels in installments.

<<Learn More – Palmcredit Loan App

palmcredit loan

9.QuickCheck Loan App

The QuickCheck loan app gives access to instant online loans without collateral. You can choose your convenient repayment plan and pay in up to 12 months.

Interest starts from 2% to 30%, with an equal monthly interest rate of 1 – 21%.

<<Learn More – How To Apply For a Loan on The QuickCheck App

quickcheck loan

10. Renmoney Loan App

The Renmoney app allows you to apply for instant personal loans of up to N6M with zero collateral. Renmoney gives you up to 24 months to repay your loan.

The interest rate varies with the choice of loan repayment. The longer the duration for repayment, the more the interest rate.

For example, a full-year repayment may have a 33.9% interest rate, but it’s lower for loans paid back in 3-6 months.

<<Learn More – All You Need To Know Before Getting a Renmoney Loan

renmoney loan

Why You Need Loans Apps With Low-Interest Rates

Here are 5 reasons you need loan apps with low-interest rates in Nigeria:

1. It helps ease your financial burden.

Unexpected financial needs can arise at any time. Traditional lending methods might not always offer the swiftest or most accessible solutions.

This is where loan apps with low interest rates come into play. They offer a lifeline to those needing quick financial assistance without the burden of excessive costs.

2. It helps you spend smartly

Significant life events often come with substantial expenses. These can include home renovations, furthering education, or starting a small business.

Low-interest loan apps can help turn aspirations into reality. They allow you to make major life moves without high-interest stress on your finances.

3. It reduces the risk of debt

High-interest loans can lead to a vicious cycle of debt. Borrowers may end up paying more in interest than on the principal amount.

Apps offering loans with lower interest rates help in mitigating this risk. They ensure that you are not caught in an endless loop of repayments.

4. It can boost your credit score

Regularly paying off a low-interest loan can impact your credit score. These apps provide the funds you need. They also help build or repair your credit history if timely repayments are made.

5. It helps in accessing emergency funds easily

Life is unpredictable, and emergency expenses can arise without warning. Low-interest loan apps offer a quick and cost-effective way to access emergency funds.

They help you manage unforeseen costs like medical bills or urgent car repairs. They don’t come with the high price tag of traditional emergency loans.

Criteria/ Requirements For Getting Loans With Low-Interest Rates

To get loans with low-interest rates, you need to meet the following requirements:

1. Maintain a strong credit score

Your credit score is crucial. A higher score increases your chances of getting a lower interest rate. Regularly check your credit report for errors.

Work on improving your score by paying bills on time and managing your debts responsibly.

2. Debt-to-Income Ratio

Your debt-to-income ratio is the percentage of your monthly income that goes towards paying debts. It plays a significant role.

A lower ratio is preferable, as it indicates more disposable income and a greater ability to repay the loan.

3. Loan amount and term

The amount of money you wish to borrow and the loan term length can affect the interest rate. Smaller loan amounts and shorter repayment periods attract lower interest rates.

<<Recommended – Loan Apps That Give More Than 100K in Nigeria

4. Seek Rate Discounts

Investigate if you qualify for any additional discounts. Some examples include autopay discounts, co-borrower options, and customer loyalty reductions.

5. Borrow only what you need

Applying for a higher loan amount than necessary can increase your interest rate. Keep your loan amount as low as possible. This will help you manage your repayments better and secure a lower rate.

Final Thoughts

Borrowing a loan is very easy these days thanks to loan apps. But, you still need information on the loan app in Nigeria with low interest rates.

Filed Under: Personal Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

7 Top Loan Apps That Give More Than 100k in Nigeria

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Several loan apps in Nigeria now provide easy access to loans over 100,000 Naira. These apps make it easy to get loans, usually without collateral or lots of paperwork. Also, these loan apps have assisted many with personal or business funding for different financial needs.

Below are the top 7 loan app that gives more than 100k in Nigeria:

1. Carbon (Paylater)

The Carbon loan app offers loans from ₦1,500 to ₦1M. This loan app offers immediate short-term loans tailored to urgent needs.

Repayments can extend up to 64 weeks, with a flexible interest rate spanning 1.75% to 30% and a monthly rate of 1% to 21%.

2. Branch

On the Branch loan app, you can get instant loans up to ₦500,000.

Interest rates vary from 2% to 18%, based on the customer’s risk profile, with loan tenure ranging from 62 days to 1 year.

3. Aella Credit

The Aella loan app gives loans from ₦2,000 to ₦1,500,000 with a tenor of 61 days to 365 days.

The monthly interest rate ranges from 2% – 20% and APR from 22% – 264%/annum with an early repayment discount of up to 60%.

4. KiaKia 

With the KiaKia loan app, you can get business and personal loans as high as N100,000,000.

Its loan tenure ranges from 30 days to 24 months. The app also has flexible interest rates, as low as 6.5%.

5. XCredit

Xcredit currently offers loans as high as N500,000 with their smallest loan amount being N2,000.

Their loan range spans about 5 months and they do not need collateral; only your bank details.

Xcredit offers an interest rate of 12% of the amount borrowed.

For example, if you borrow N10,000 for a tenor of 120 days, then at maturity, the total interest would be N10,000 * 12% = N1,200.

6. PalmPay

You can get an instant loan of up to ₦200,000 with the Palmpay, with no paperwork or collateral required.

PalmPay charges an interest rate ranging from 15% to 30% on its loans. Your loan amount and credit score influence the interest rate.

7. 9ja cash

9jacash allows you to borrow up to N300,000 with a loan term of 91 ~ 720days. A 9jacash loan interest is from 10% to 28% per annum. For example: If you apply for a loan of ₦20,000, the term is 120 days and the annual interest rate is 18%.

Conclusion

Loan apps have transformed the way Nigerians access financial resources. They offer a convenient and streamlined alternative to traditional lending methods.

These apps provide quick and easy loans, without requiring collateral or excessive paperwork.

With loan amounts exceeding 100,000 Naira, they cater to a wide range of financial needs. If you need money for personal or business purposes, these apps above can help you.

Filed Under: Personal Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

How To Transfer Airtime on Glo Via USSD Code [2024]

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Are you a Glo user looking to share some of your airtime with friends or family? Maybe you’ve got a bit extra this month, or someone close to you needs a little boost on their phone.

Whatever the reason, transferring airtime on Glo is a handy trick to know.

In this blog post, I will walk you through the steps to transfer airtime on Glo using different methods.

How to Transfer Airtime on Glo

Transferring credit on Glo can be done through several methods. The most common and straightforward way is using the USSD code.

Dial *131*phone number of the recipient*amount to be transferred*password#.

For example, if you want to transfer N100 to the number 08155570458 and your password is 12345, you would dial 131*08155570458*100*12345#. Once the transfer is complete, you will receive a text message notification.

Related Article – How To Borrow Airtime on Glo

Code To Transfer Airtime on Glo

The code to transfer airtime on Glo is *312*Receiver’s phone number*Amount*PIN# and confirm the transaction when prompted. Your account will be debited, and the recipient’s account will be credited after confirmation.

How to Get Glo Transfer Code

To set up or get your Glo transfer code, you need to create a personal identification number (PIN). This is necessary for the security of your transactions.

Here’s how to do it:

  • Your Glo line comes with a default PIN (00000). To change it, dial 13200000*New PIN*New PIN#.
  • Choose a new PIN that’s easy for you to remember but hard for others to guess. It should be a 4-digit number.
  • Once you have dialed the code with your new PIN, you’ll receive a confirmation message that your PIN has been changed successfully.

How to Transfer Airtime from Glo to Glo

To transfer airtime from Glo to Glo, dial *312*[Recipient’s Glo Number]*Amount*[Your PIN]#. For instance, if your PIN is 12345 and you want to send N100 to 07050000000, dial 3120705000000010012345#. Confirm the transaction when prompted.

After the transaction is confirmed, the credit will be successfully transferred.

Other Ways to Transfer Credit on Glo

1. Using the Glo Cafe App

  • Download the Glo Cafe App from the Google Play Store or Apple App Store. Sign in with your Glo number.
  • Navigate to the “Transfer Airtime” tab. Enter the recipient’s Glo number, the amount to transfer, and your Glo PIN.
  • Click on the “Transfer” button, then “Confirm” to complete the transaction​​.

2. Contacting Glo Customer Service

  • Dial 121 to reach Glo’s customer service.
  • Inform the agent about your intent to transfer airtime. You’ll need to provide your Glo number, the amount to transfer, and the recipient’s Glo number.
  • The customer service agent will facilitate the transfer. Your airtime balance will be debited accordingly.

Learn More – How To Borrow Data From Glo

FAQs

Why Can’t I Transfer Airtime on Glo?

If you cannot transfer airtime on Glo, it could be due to a few reasons. These include insufficient balance, using the incorrect USSD code, not changing the default PIN, or network issues.

Ensure you have enough credit, use the correct USSD code (*131#), and have set a personal PIN​​​​.

How Can I Share Airtime on Glo?

To transfer airtime on Glo, dial *312*Recipient’sPhoneNumber*Amount*PIN#. After sending, confirm the transaction prompted on your screen. Your account will be charged, and the recipient’s account credited. Make sure to enter the correct details to ensure a successful transfer.

Can I Transfer Airtime from Glo to Another Network?

No, you cannot transfer airtime from Glo to another network like MTN, Airtel, or 9Mobile. Glo’s airtime transfer service, often referred to as ‘EasyShare,’ only allows transfers between Glo numbers. For other networks, you would need alternative methods. You could purchase credit directly for the recipient.

How Do I Find My Glo Transfer PIN?

If you’ve forgotten your Glo transfer PIN or haven’t set it up yet, you can reset it by dialing 13254321*98765*98765##. If you’re setting it for the first time or resetting it, choose a 4-digit number that’s easy for you to remember but hard for others to guess​​​​.

Conclusion

To transfer airtime from on Glo, use the USSD code, *312#, or contact Glo customer service.

Filed Under: Guides [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

A CompleteGuide to USSD Loan Codes in Nigeria, 2024

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Need a loan but don’t have the time for lengthy applications?

No worries!

USSD codes offer a convenient way to access quick loans from your phone in Nigeria.

USSD codes are your key to unlocking a world of banking convenience in Nigeria, especially for loans.

No internet connection is needed – just your phone!

This guide will show you how to use these codes to find the loan you need.

USSD Loan Codes in Nigeria, 2024

What are USSD Codes?

Just in case you’re wondering what a USSD code is or what it does, here’s a quick rundown.

USSD (Unstructured Supplementary Service Data) codes are short codes you can dial on your phone to access various services.

Think of them like a simplified app built into your phone’s dialer.

Many Nigerian banks and financial institutions offer USSD menus for account management and, importantly, loan applications.

Note: It’s crucial to use the correct code for your desired financial institution.

Using the wrong code might lead you to a different service or even a scam.

Why Use a USSD Code?

LOL! The answer seems obvious because I mean who doesn’t want the easier and shorter route?

I’m sure you know how tedious getting a loan in Nigeria can be so here are a few benefits of using a USSD code for getting a loan:

Convenience: Apply for a loan from your phone anytime, anywhere.

Speed: USSD transactions are typically processed quickly.

Security: Using official USSD codes ensures a secure connection with your financial institution.

USSD code dialed on phone

Popular Nigerian Lenders and their USSD Loan Codes

Banks:

  • Guaranty Trust Bank: Dial *737*51*51# (Check the GTB Quick Credit website for more information)
  • Access Bank Plc: The Access Bank loan USSD codes are *901*11#, *426*11#.
  • Sterling Bank: Simply dial *822# to access loans on Sterling.
  • Zenith Bank: To access loans on Zenith Bank, dial *966*Amount*Account Number#.
  • First Bank: Dial *894*11# or *894#.
  • Ecobank: Dial *326# and get access to a loan.
  • First City Monument Bank (FCMB): Get instant loan by dialing *329*11#.
  • Fidelity Bank Plc: Dial *770*08# for instant loans.
  • Polaris Bank: Simply dial *833*4*4#.
  • Stanbic IBTC Bank: To get access to the Stanbic IBTC loan, dial *909*44#.
  • United Bank for Africa (UBA): The USSD loan code is *919*28#.
  • Union Bank of Nigeria: Dial *826*41# to get a loan.
  • Wema Bank: The USSD loan code for Wema is *945*65#. 
  • Unity Bank: The loan code for Unity Bank is *7799#.
  • SunTrust Bank: Access a loan on SunTrust by dialing *5230#.
  • AB Microfinance Bank: Access loans by dialing *389*755#.
  • Accion Microfinance Bank: Dial *572*6#.

FinTech Lenders

  • Carbon (Pay later): *130*3#
  • Easemoni: *347*334#
  • Palmpay: *652#
  • Opay: *955#
  • Renmoney: *723*730*01#
  • Interswitch: *322#
  • Kwik Cash (Migo): *561#
  • FairMoney: *566*15#
  • Aledin Nano: *561#
  • ALAT Loan By Wema Bank: *945*100#

To obtain a loan in Nigeria, you’d surely need to know the essentials like knowing your BVN and even having a good list of loan apps options in Nigeria.

How To Apply for Loans Using USSD Codes

Here’s how you can apply for your loan using the USSD loan codes:

1. First, decide which lender you want to borrow money from.

2. Get the functional USSD code for the specific loan provider.

3. Ensure you meet all specified requirements. These may include having an active account with the bank or providing personal details like your full name and Bank Verification Number (BVN).

4. Some lenders may require you to register for their USSD service. This could involve providing some personal information and setting up a profile.

5. After dialing the USSD code, follow the on-screen prompts. This might involve selecting the loan amount, tenure, and other relevant details.

6. Once you’ve completed all necessary fields, submit your loan application through the USSD code platform.

7. After submitting your application, wait for the lender to process your request. You will be notified of their decision, which may include approval or rejection of your loan application.

Frequently Asked Questions

What code is *894*11#?

The USSD code for First Bank of Nigeria is *894*11#. It allows customers to apply for quick loans directly from their mobile phones.

What is the maximum amount of loan that can be accessed through USSD codes?

The maximum loan amount accessible through USSD codes can vary widely.

It depends on the lender and the borrower’s eligibility.

Some lenders offer amounts up to several million Naira. Others might offer smaller loans.

How long does it take to receive a loan through USSD codes?

Loans obtained via USSD codes are generally disbursed within a few minutes to 24 hours after approval.

The disbursement time depends on the lender’s processing time.

Are there any fees associated with accessing loans through USSD codes?

Yes, accessing loans through USSD codes may involve fees. These may include processing fees, interest rates, and possibly other charges.

The specific fees depend on the lender and the terms of the loan.

Can I repay my USSD loan through USSD as well?

Yes, many lenders allow loan repayments through USSD menus.

Check with your specific lender for their repayment options.

Conclusion

USSD codes are great for fast cash or if you want to skip the hassle of getting a loan in person.

They need very little and you should get your loan if you meet all specified requirements in minutes.

Filed Under: Mobile Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

How to Get a Loan from Zenith Bank [Updated 2024]

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Zenith Bank is one of the leading financial institutions in Nigeria. It offers various loan options to its customers. These loans are designed to meet different financial needs.

They include personal, business, and emergency expenses. There are different ways to borrow money from Zenith Bank. One of the top methods is using their loan code.

In this guide, I’ll show you how to apply for a loan from Zenith Bank using their loan code.

Zenith Bank logo

Zenith Bank Quick Loan USSD Code

The Zenith Bank Quick Loan is accessible by dialing *966*11#—apply today!

NOTE: This service is available 24/7. It caters to urgent financial needs. These needs include medical bills, school fees, and business opportunities. You don’t need to visit a bank branch.

The loans have competitive interest rates. You must have an active Zenith Bank account, a linked BVN, and a good credit history to be eligible.

How To Borrow Money From Zenith Bank

To borrow money from Zenith Bank using loan codes, follow these steps:

  1. Ensure you have an active Zenith Bank account. Meet the bank’s criteria, such as being at least 18 years old and having a regular source of income.
  2. Use your registered mobile phone to dial *966*11#. This USSD code allows you to access Zenith Bank’s quick loan options.
  3. After dialing the code, follow the on-screen instructions. You’ll be asked to provide details such as the desired loan amount and repayment period.
  4. Zenith Bank offers various loan products like quick loans and salary advances. Each product has its specific terms and conditions. Choose the one that best fits your needs.
  5. The funds will be credited to your Zenith Bank account if your loan application is approved. The approval process is typically quick, thanks to the streamlined USSD service.
  6. Be aware of the loan’s repayment schedule. Zenith Bank deducts the repayment amount from your account on the due date.

Related Article – Access Bank Loan: USSD Code & Requirements

Zenith Bank Loan Requirements

The requirements for obtaining a loan from Zenith Bank generally include:

  1. Applicants must be at least 18 years old.
  2. Have an active account with Zenith Bank.
  3. Applicants should have a regular source of income. It usually has a minimum monthly earning threshold.
  4. A positive credit history is crucial for loan approval.
  5. A Bank Verification Number (BVN) is linked to the applicant’s account.
  6. Certain loans, such as salary-based loans, require proof of employment and income stability.

Zenith Bank Loan Eligibility

Once you meet all requirements set by the bank, they will quickly approve your loan. The age limit is a minimum of 18 years and less than 60 years.

To qualify, you need a monthly salary of 10,000 Naira. Additionally, you should not have any existing loans with the bank or any other bank.  With the Zenith Salary Advance loan, you can borrow up to 60% of your monthly income.

How to Repay the Zenith Bank Loan

You do not need to do anything special when repaying the Zenith bank loan at the end. All you need to do is to ensure that the Zenith Bank account you used for the loan is adequately funded. The bank will make deductions straight from your account.

Zenith Bank Loan Interest Rate

The interest rates for loans from Zenith Bank in Nigeria vary depending on the type of loan and the borrower’s profile. For quick personal loans accessed through the Zenith Bank 966# Quick Loan code, the interest rate is a flat 3%.

The repayment period is 30 days. The bank also offers the Zenith Bank Eazy Loan, which allows borrowing up to N500,000. The loan has competitive interest rates, although the exact rates are not specified.

Zenith Bank’s MSME Loans have a significantly higher interest rate, reported to be as high as 27%. This is the case for small and medium-sized enterprises (SMEs).

This rate is notably higher than the rates offered to the bank’s directors and key management staff. Reportedly, they enjoy an average interest rate of 4%.

Interest rates are subject to change and may vary based on the bank’s policies and market conditions.

Borrowers should contact Zenith Bank directly or visit their official website for the most current and specific information regarding interest rates for each loan product.

Recommended – Top 10 Best Loan Apps in Nigeria With Low Interest

FAQs

*966 *11 Loan Code Not Working Zenith Bank

If the *966*11# loan code for Zenith Bank isn’t working, it could be due to several reasons. First, make sure your phone number is correctly registered with Zenith Bank and linked to your account.

Sometimes, the issue could be due to network problems, so retrying after a while might help. If the problem continues, contact Zenith Bank’s customer service for assistance.

Can I borrow money from my Zenith account?

Yes, you can borrow money from your Zenith Bank account, provided you meet their eligibility criteria. Most importantly, ensure you understand the terms and conditions of the loan before proceeding.

Conclusion

We could someday find ourselves in a financially hard situation, and that’s nothing to write home about. Things could get tough, and we might need a little push now and then, and the Zenith Bank loan does just the job. Get one today if you require it. 

Filed Under: Bank Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

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