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Checkout List Of The Best Personal Loans Platforms In Nigeria And How To Get Fast Loans From Them

Personal Loans are loans primarily obtained to cover personal expenses. If no one is willing to offer you money to cover your expenses, then getting a personal loan is the best option for you. With personal loans, you can get money to solve an urgent financial emergency and pay it back at a time most convenient for you. If you’re considering whether to get a personal loan for your business or what platforms to get a personal loan from, then you’re at the right place. This post is designed to guide you on what personal loans are all about and how to get one for yourself. Let’s delve in!

What Are Personal Loans?

Personal Loans are loans that you borrow for personal purposes. In Nigeria, personal loans are often granted by banks, or through an online lender. They usually come with interest that you must pay along with the actual borrowed amount. In some cases, collateral must be offered before collecting a loan while on other platforms, they may not be necessary. 

Personal Loans can be repaid in installments. However, this greatly depends on the repayment schedule that would be already arranged with your lender. To obtain a personal loan in Nigeria whether from a bank or an online lender, some requirements should be met. Let’s consider these requirements.

Requirements For Obtaining Personal Loans In Nigeria

These requirements cut across banks and online lenders. Here are the requirements that you should meet before obtaining a personal loan in Nigeria.

1. Must Be Over 18 Years

You must be over 18 years of age to get a personal loan in Nigeria. This is the minimum legal age recognized by the Nigerian government for you to carry out these kinds of transactions. At least a document should be carried along with you that proves that you are over 18 years of age.

2. Bank Verification Number (BVN)

A Bank Verification Number (BVN) is another requirement needed to be accepted for a personal loan in Nigeria. Your Bank Verification Number carries a record of you and your banking transactions. As a result, any bank or online lender that you wish to get a loan from would want to get these details before proceeding to grant you a loan.

3. A Valid Means Of Identification

A valid means of identification is a document that showcases all the information about you. A valid means of identification allows the bank to know details about you such as your Date of Birth, State of Origin, Phone Number, etc. A suitable document that can be used as a means of identification includes your government-issued ID card, Voters card, or even Driving License. These documents are enough proof that you can use to get a personal loan in Nigeria.

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4. Utility Bills

Utility bills are used by banking platforms to get the correct details of your home address. In most personal loan applications, it is usually required that the applicant submit a copy of a recent utility bill. A utility bill or proof of address could be a PHCN bill or water bill of not less than three months. Without these documents being handy, your chances of loan approval would be slim.

5. A Good Credit Score Record

A good credit score increases your chances of getting your loan request approved by your bank or online lender. A good credit score shows that you’ve not been involved in any fraudulent transactions with the bank. It also shows that you are reliable and your bank can be rest assured of granting your loan request. 

These requirements enlisted above are core documents that should be handy whenever you wish to apply for a loan. As mentioned earlier in this article, the two main options to apply for a loan in Nigeria are through banks or online lenders. First, let’s check out some banks that offer personal loans in Nigeria.

Banks That Grant Personal Loans In Nigeria

Here are banks that grant personal loans in Nigeria:

Standard Chartered Bank

Union Bank

Sterling Bank

Stanbic IBTC Bank

United Bank for Africa

First Bank of Nigeria

Guaranty Trust Bank

Wema Bank

Keystone Bank

Access Bank Personal Loan

Zenith Bank

Fidelity Bank

Kuda Bank

Providus Bank

How To Obtain Personal Loans From Banks In Nigeria

The following steps should be followed to obtain personal loans from banks in Nigeria.

Step 1. Walk Into A Bank In Nigeria

After making your choice of the bank you wish to get a loan from, the next thing would be to locate the bank to obtain a loan. Some banks make it easier by providing an online portal where customers can obtain a loan from. You can navigate through the website of the bank of your choice to get started on getting a loan.

Step 2. Submit The Required Documents

All the documents listed under the Requirements For Obtaining Personal Loans In Nigeria subheading should be available for submission at the bank. You must submit photocopies of these documents and keep the original to yourself. If these documents are not complete, you may not be granted the loan. So, endeavor to submit the complete required documents for obtaining a personal loan. If you intend to apply online through your bank’s online platform, do well to submit soft copies in PDF format for your loan request to be approved.

Step 3. Fill Out The Application Form

Your bank may then proceed to give you a personal loan application letter or form. Fill out the application form with your correct details and resubmit it to your bank. It is with this application form that the bank will then proceed to process your loan request. 

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Step 4. Wait For Approval

Many banks take at least 24 hours before giving a response to your loan request. For personal loans, these may be quicker. Depending on your bank, you may have to wait for some days to receive a response. A response may be through your email or text message. So, keep these channels on to receive a response.

Online Lenders That Grant Personal Loans In Nigeria

Here are the online lenders that grant personal loans in Nigeria:


Page Financials


Kwikpay Credit

C24 Capital








Palm credit

How To Obtain Personal Loans From Online Lenders In Nigeria

Follow these steps to obtain personal loans from online lenders in Nigeria:

Step 1. Login To Your Account

If you already own an account with any of the online lenders aforementioned, then the first step to take is to log in to your account. On the other hand, if you don’t have an account already, do well to create an account with any of these platforms to access a personal loan for you.

Step 2. Click On “Loans”

When you gain access to this account, then navigate to where you find the “Loans” button. In most online lender platforms, this button is boldly displayed on the home screen. When you find this button, tap on it. Sometimes, you may be asked to select the kind of loans you want, and proceed to click on “Personal Loans”. Afterward, a new page would then be opened for you. 

Step 3. Enter Your Information

In the new page that would be displayed to you, enter your information on the space that would be displayed to you. The information that you would be asked to provide answers to would include your Name, Address, Occupation, etc. On that same page, you may also be required to submit the required documents. Submit the documents in a PDF or any acceptable format. When you do this, select “Enter” to confirm your information.

Step 4. Wait For Approval

Generally, for most online lenders, it takes 24 -72 hours to respond to your loan request. 


Getting a personal loan in Nigeria is quite easy if recommended steps are taken. There are so many banks and online lenders out there that you can get a personal loan from. So, don’t wait there, follow the instructions given to you on this page and obtain a personal loan today!

CHECK OUT >> Where to Get Loan For Small Businesses



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