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.
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.
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.
