Category: How to

EaseMoni Loan

We all have had an experience of having an urgent want of money and need an institution from which we can get the loan without collateral. Every individual would want a loan institution that would offer them a loan without stressing to queue at a bank?

In this article, we would discuss a platform in which an individual can get instant loans within minutes. EaseMoni is one among in which all Nigeria’s most popular loan provider which could provide you with immediate loans without collateral. With this platform, you do not have to bother about borrowing from banks anymore.

Introduction to EaseMoni Loan

EaseMoni is a Nigerian loan provider which allows individuals to apply for immediate loans at any time and anywhere. The company is owned by BlueRidge and was launched in the year 2009.

This financial lender grants quick loans without requesting any form of collateral. All you need to do is simply download their mobile app on your smartphone and apply for a loan. Within a matter of minutes, you would receive the loan you applied for.

Additionally, this digital lending platform offers you an opportunity to apply for a loan of up to N1,000,000. It doesn’t matter if you’re a new customer or a long-standing customer with the platform, you have access to all the services the platform offers.

However, your credit rating will increase if you frequently use the app and pay back your loan as when due.

Requirements to Borrow a Loan

There are certain necessities you should meet before applying for a loan on this platform. Those necessities involve:

1. You need to be a citizen of Nigeria and reside in Nigeria.
2. You should be within the age range of 20 – 55 years.
3. Likewise, you ought to have a reasonable source of revenue. This enables them to review your loan application correctly and decide the maximum amount of money you’re eligible to borrow.
4. All the basic information you provided on the platform upon registration must be valid.

EaseMoni Loan

How Do I Register on EaseMoni Loan?

To sign up on this loan app, do the following:
With your mobile device, go to your Google Play Store or App Store.
Search for EaseMoni on the Search bar.

– Download and install the mobile app on your device.

– Open the app and register an account by inputting your personal details.

– After registration, you can go on to apply for your loan and wait for approval.

How to Apply for EaseMoni Loan and get verified?

I would highlight some procedures to follow on how to apply for a loan:
1. With the stated steps above, download the app and finish your registration process.
2. Select the amount you need to apply for, fill in the information required of you, and submit.
3. Wait for verification and approval of your loan application. As soon as your loan application is approved, sign the loan agreement of the platform, and you’ll receive your cash right away.

If you follow the steps stated above and have all the needed requirements, there’s a possibility your loan application can be accepted.
Also, you must make sure that the mobile number with which you use to apply for a loan is the same number you do receive your credit alerts.

Are the Interest rates different?

There are different interest rates applied on this platform. They are as follows:

An interest rate of 5% to10% monthly with an APR of 60%-120%. This interest rate is applied based on your credit assessment.

For example, the loan payment terms for 91 days have an interest rate of 5%. A loan that was given at a principal amount of N3,000 will have an interest of N273.
Essentially, which means that the overall amount to be paid would be ₦3,273.

Loan Period

EaseMoni states that the payment of your loan should commence from 91 to 365 days. Basically, because of this, you get a grace duration of roughly 3 months.

Be informed that your loan period may also vary relying on the amount of money you borrowed.

How to download the mobile app?

The application can be downloaded with these steps:
1. Pick your android device and open your Google Play Store. If you have an iPhone, Open the App Store.
2. Search for ‘EaseMoni’ on the search menu.
3. Download and install the app.
4. Launch the app and begin your registration and apply for a loan.

Customer Service of EaseMoni Loan

All your inquiries and complaints can be addressed in the following ways:

Visit their office: Address 60 Adeniyi Jones Ave, Ikeja, Lagos, Nigeria
Email: info.easemoni@gmail.com
Dial their customer service line: +2349087614150
Send a message to their WhatsApp customer number: +2348073634739

Conclusively, EaseMoni is mainly an app that gives loans to Nigerians. With this app, you are sure of getting a loan of up to N1,000,000 without collateral. This app is authentic and appropriate for use as long as you get to pay back your loan in due time.

KiaKia Loan

If you understand pidgin English, you’d know ‘Kiakia’ means fast, or better quickly. This is exactly the impression behind the KiaKia loan.

Kiakia is a digital lending loan app in Nigeria that gives small commercial enterprises and personal loans.
KiaKia loan platform which makes it very smooth to access a loan without any collateral.

Requirements for KiaKia loan

You need to provide the subsequent files and meet the necessities to qualify for a KiaKia loan:

• Legitimate means of identification
• Any bank account with a bank Verification number
• Additionally, a proof of income from your place of work or commercial enterprise
• An operating e-mail address
• You must be a resident of Nigeria
• Applicants need to be 21 years and above

How to Apply for a KiaKia loan

Follow the procedures below to apply for a KiaKia loan:

1. Visit the website and create an account with your correct information
2. Start an application chat on the web page
3. Add a valid means of identification(ID Card, Passport, or Voters Card)
4. Input your preferred loan amount
5. Select the loan duration that is convenient for you
6. Add a screenshot of 3 of your previous salary or commercial business income alerts
7. Accept the terms and conditions for your loan if your application is authorized
8. Authenticate your bank account, ultimately, you get credited

KiaKia Loan App

Presently, there’s no KiaKia loan app available in any of the app stores. All borrowing services are performed on their internet site. They believe this is to allow customers with mobile devices to get entry to all their services.

What is the KiaKia loan interest fee?

This loan offers as low as 5.6% and as much as 24% interest rates. Considering the speed of their applications, this isn’t an awful rate base. However, one aspect that is sure is that the exact interest charge would be shown to you during the loan application manner wherein you can either agree or reject it.

Loan repayment for KiaKia loan

Repayment terms on the Kiakia loan is quite easy. You only need to have repaid the loan between 7-30 days. However, it’s far advisable to pay your loans earlier if you may, due to the rewards that are included in it.

Pros and cons of KiaKia loan?

They involve:

Advantages

• Digital lending is simple and funds are released within minutes.
• Also, it does not require any severe documentation
• No geographical restrictions are applied. This means you can apply from everywhere in the world.

Disadvantages

• It comes with a loan processing fee
• Ultimately, the maximum amount to be borrowed is pretty low

Frequently Asked Questions:
A lot of users have some often asked questions on loans in Nigeria which are:

How Much Can I possibly get from KiaKia Loan?

You may borrow as low as N10,000 and as much as N200, 000 from them. But some customers are assigned a particular amount of loan at the beginning. As you’re taking and paying off a loan in time, your borrowing limit will increase.

Can We get a loan without following due process?
Yes, you may. However, it could be tough to borrow money on the platform without a steady means of income. Most creditors would prefer borrowing loans from individuals with a consistent and trusted source of income. The best choice could be to use loan apps that do not virtually consider your means of profit as one of the criteria.

We could recommend Loanspotafrica as one of the platforms that don’t use a source of income as criteria for you receiving a loan.

Can I apply for a personal loan without a salary?
Yes, you may. The development of technology in our generation today makes it easier to locate borrowers as compared to long ago.

Fundamentally, you can now get a private loan without having a salary. As a count of fact, all you will do is offer evidence of your account and go through the application procedures. One of the digital lending platforms that were first rated for this is loanspotafrica.

If I just started working, Can I get a loan?
Yes, you can. But, the loan amount might probably be lower than those with proof of substantial earnings, and you may not have enough earnings as they do.

If short-time loans are what you’re searching out for, then applying for a KiaKia loan is genuinely what you should try. You can apply for a larger loan if you earn credit score points with them for a while. All that is needed of you is to get registered by visiting their website, fill in the required details, and also you’ll have your loan application reviewed.

If it’s approved, then you will definitely get your loan right away. It is advised for you to only apply for a KiaKia loan only if you can find the money for it. There is no room for evasions.

You could achieve a complete loan, that meets your specific needs by making use of this platform.
You are also free to try out loans from different financial lending platforms throughout Africa, ensuring you don’t miss the best option.

Loan Scams and Fraudsters Online

When you are in need of money with a zero or no credit score, it’s likely that you would accept any offer that comes to you to get a personal loan. However, there are scammers online who are waiting for such an opportunity to make a gain from such a scenario. They will offer you mouth-watering loans through online website ads.

Most of us have encountered such situations and were able to not fall victim to them, but some of us were unfortunate. As much as we can’t explain their action for scamming, we can give some red lights to watch out for.
In this article, you would be taken through a number of caution signs which are the general experience of victims of loan scammers.

How Do You Identify Loan Scams and Fraudsters Online?

We would run through some very best approaches to understand when there’s something not right:

1.  Basic Information:

In no way should you give out your bank account number, date of birth, social security number, or any other vital information about yourself except if you’re certain you’re using an accountable lending institution.

Most of your personal information can be used by loan scammers in situations like identity theft or stealing from your traditional bank account. Nowadays, there are traditional banks that provide loans with no collateral and required less information.

2. They have no interest in your credit history:

Registered and valid financial lenders assess someone’s creditworthiness before offering the person a loan. When you do see claims like “No credit? No hassle! awful credit score? No credit?’’. Please avoid such, else you’d fall victim to loan scams. There’s sincerely a hassle. It’s your problem and not theirs. A trustworthy financial lender always has affiliations with the credit bureau.

3. In advance charges:

Some of these scam financial lenders would pretend those are either an application or document fees, but in all sincerity, they are not.

Now let’s examine this together: If you are trying to get a loan, then you are asked to send money before you get your loan. That’s a glaring scam.
Genuine lenders would state all their charges. Normally, they’re added to the amount of the loan and are not paid for in advance.

4. Offers made over the phone:

It’s far unlawful to make loan offers to individuals over the phone. Any financial offer must be in form of writing as an agreement between both parties. All the associated interest fees must be pointed out in the agreement.

5. Making Transfers:

When a financial lender stresses you to send money for any charges, that’s a caution sign. By no means would you send money to any person.
Continuously ask for the financial lender’s physical address. You can also visit the Financial Regulations office in the proscribed state to validate if it’s an authorized business or a loan rip-off.

6. Copied Name:

In a bid to look authentic, most smart loan scams would use a business name or design a website that looks so real or legitimate that they won’t be caught. I would advise you to visit any Business Bureau to verify if their address and mobile number are genuine. When you check their mailing address, and you notice it appears as POB, be cautious about such websites.

7. Nation Registration:

Creditors and loan agents are expected to register in the state in which they operate their business. This can be done by visiting The department of banking or the Financial Regulation office where you reside. This doesn’t guarantee if you would get all the experience of the lender, but it can help you know a loan scam when you see one.

8. Customer support:

Legitimate lenders have telephone numbers you can call in case of any inquiries or complaints. If you aren’t content with customer support, you shouldn’t give the organization your basic information. Don’t accept mobile robots, you need to be transferred to a company’s customer representative.

9. Critiques:

Online evaluations are very influential as they would help you identify and pick a good lender. To be sure of the business, you can use a search engine, like Google, to search the company’s profile. You can as well check for the name of the company founders as well.

If you spot terrible reviews, be cautious. If there is a constant bad impression from people across different locations.

10. Warning:

There are more than a few matters that should look off on at the sight of it. Be wary of electronic mail messages which comprise errors in spelling, punctuation/grammar, and capitalization.

They all are signs of unprofessionalism. If you get free duration, probably a year before you make repayments, avoid such sites. Pay attention if the lender says they don’t check credit score exams and will lend the money to you irrespective of past monetary troubles.

In Conclusion, the extent to which loan scams happens appears to be growing daily, with many being unlucky to be a victim. In case you have had an experience with a loan rip-off or loan fraud, visit your nearby regulation enforcement as quickly as possible to report such an incident. I hope this article has been able to educate you on some approaches which can make you know an online scam or fraudster if you see one.

Loan Scams and Fraudsters Online

Moneymie Online Banking

Nowadays, going to traditional banks to make transactions is time-consuming and tasking. The trouble of staying in long queues or probably going through one disappointment or the other while your transaction becomes unsuccessful is a very terrible situation.

However, digital banking solutions have solved this problem for absolutely everyone. Moneymie is a digital financial institution that provides customers with relatively simple conventional banking services which would be less difficult. With this digital conventional bank, you can rest assured to carry out seamless international transactions within minutes and not days.

What is Moneymie about?

Moneymie is a virtual platform that is designed to serve as a diaspora bank and transaction platform that provides global wire transfers, and mobile application services. In addition, this platform also provides access to use to make USD payments in the comfort of your home.

Essentially, they provide you with a platform that allows you to get entry to all traditional banking offerings via your cell phone. Customers can transfer, and receive money easily and make payments with different currencies by using this platform.

This privately-owned virtual banking establishment was launched in the year 2019. Their main services is in providing seamless intercontinental Banking, across-border investment, cash transfer, and a digital Banking service to the public.

Moneymie Online Banking

How does Moneymie help businesses?

Essentially, that is a virtual platform designed majorly for commercial enterprise owners. It also helps entrepreneurs to make smooth and rapid business bills. You can transfer and receive cash worldwide in minutes. The platform makes your businesses known with high and small-quantity OTC transactions.

Services offered by Moneymie Online Banking.

The digital intercontinental financial institution provides the following services:

1. Cash Transaction:
With this virtual banking platform, you can transfer money also receive money. You can receive across-border money from international countries like South Africa, Ghana, etc. Additionally, you can also convert your received foreign money into other foreign currency.

2. Across borders payments:
Essentially, this platform is also designed to allow its customers to carry out easy intercontinental transfers. The transfer can be done from your personal dollar wallet to any other dollar wallet. Such services are available within the US and over 90 countries.

Documents needed for registration

The amazing fact about Moneymie is that it’s far very easy to register an account on their platform. Essentially, you do not need any government-issued identity card before registering.

All that is needed of you is your basic information. They include your name, registered electronic mail address, active phone number, and a bank verification number.

How to register on Moneymie?

To have an account on this platform, you need to sign up first. Follow the steps below to register:

1. Visit your Google Play Store or App store
2. Search for Moneymie on the search menu
3. Download and install the application on your Android or iOS device
4. Tap on “sign up” and fill in your basic information on the page.
5. Lastly, go through the information you filled in to be sure it’s correct. You can then submit the form.

How to download Moneymie Online Banking Mobile app

Open the Play Store on your Android device. Also, you can open the App Store for iOS users.

Type ‘Moneymie’ on the search bar.

Download and install the app on your mobile device.

You can then log in to your account.

How to contact Moneymie Online Banking

You can get in contact with Moneymie through the following means:
Send your emails to: hello@moneymie.com

Dial their customer hotline: +1 512-766-6395

Conclusively, Moneymie is commonly a platform that offers virtual banking services. You can make money transfers and receive money from different countries. Also, you can also make easy home and intercontinental transfers instantly. Commercial enterprise owners aren’t omitted from this offer too. Above all, this platform is trusted and reliable.

First Bank Nigeria Online Banking

Are you in search of a banking system that fits your personality? Would you want to make some transactions online without the hassle of getting to a bank?

First Bank Nigeria is the perfect bank that will help ease all of your banking stress and would also provide all of your banking needs. With First Bank Nigeria you can sure bank online whenever, wherever at your convenience.

The First Bank Nigeria offers online services to its customers. Our online banking enables customers to make different transactions at any time and in any location without having to visit any First Bank branch office. Our online banking service is secured, fast and accessible.

In this article I’ll be highlighting how to register, the activation process, and some other relevant information you need to know about First Bank online banking.

First Bank Nigeria – Overview 

First Bank Nigeria was established in 1894 by Sir Alfred Jones. It is the first commercial bank established in Nigeria and also one of the biggest banks in Nigeria.

The bank has established itself in the Nigerian financial sector as a hallmark of tenacity, strength, and innovation. First Bank Nigeria has a large Agent Banking network across Nigeria; this agent banking helps enhance financial integration.

The bank offers online banking like e-Banking or Virtual banking which allows payments of bills, transfer of funds, airtime purchases, etc. Online banking is safe, swift, and reliable. It also allows customers to send money to several people in one transaction. 

Features of First Bank Nigeria Online Banking

• Payment of utility bills at anytime
• Cheque confirmation
• Funds transfer to anyone and anywhere 
• Instant notifications on any activity done on the account 
• Registering complaint
• A download of the account statement

Registration Procedures of First Bank Nigeria Online Banking

Registering for First Bank Nigeria Internet Banking is easy and free. All you need to do is follow the steps listed below to get started.

• First, visit the First Bank of Nigeria official website
• Search and Click on “Personal Banking”
• Enter all required information asked such as card number, card pin, and User ID.
• Check, confirm and enter the verification code number sent to you
• Click “Continue” and wait for a notification.
• Lastly, follow the steps on the next page to complete your process.
• After successful registration, you can then proceed to log in with your details.

Activation Procedures

After successful registration, the next thing to do is the activation of your Username and Pin.

• Follow these instructions to activate your internet banking:
• Visit the First bank Online portal
• Enter your username and the verification code sent to you 
• Next, click the “login” button to login
• After a successful login, proceed to change your password.
• Enter a new password then Submit

Easy peasy! It takes zero time and is also effortless. Why don’t you try out the Registration Now!!

 

PayStack Application

As a business owner, you would require an easy way to receive payments made by your customers. To achieve such, online payment channels offer a more suitable way to perform such jobs.

In this article, we would be talking about a payment platform that facilitates a seamless payment process for you and your customer. PayStack is a payment platform that allows you to receive payments from customers using several payment channels without any hassle.

Understanding PayStack Application?

PayStack is a digital payment method that makes businesses to receive online payments from their customers easily. With the use of this platform, individuals and businesses accept payments effortlessly.

Paystack happens to be a privately-owned company that was launched in 2015. The platform was open to the public in 2016. By making use of this payment platform, brands can receive payments across and beyond Africa.

Entrepreneurs are not left out for those seeking to grow their businesses. Their market audience can expand by accepting local and international payments.

Products that PayStack offers

Fundamentally, the platform mainly gives individuals and businesses an alternative gateway to receive payments online.

Payments are made through websites, payment links, online stores, or invoices. What is needed to be done before you can receive payment easily is to integrate paystack into your website either on your mobile device or on your desktop.

As a business owner, your customers can pay for your products or services offered through different means. They can make payments either with their Bank Account, Bank Transfer, Visa QR, Card, USSD, or Mobile Money.

With the use of this platform, you get free access to other services like:
1. Making instant transfers
2. Providing you with detailed reports and alerts of how your business is performing.
3. It helps you reconcile your accounts
4. Every transaction and customer data recovery
5. Verification of the identity of your customers.
To get a full list of the services this platform provides, you can visit their official website and check it out.

Registration on PayStack?

During the registration process, some information would be required of you before you proceed to create your account.
Information like: Your business name, Your residential country, your first name, last name, email address, and phone number. Kindly go through your details carefully before creating your account.

How to register on the  PayStack Application?

As a newbie to the platform, you can register on this platform through their mobile app or on the web platform.
To register on their web platform, the steps below should be followed for registration:

1. You need to visit their official web platform or get a direct link to their web platform below.
2. You would see a menu “Create Free Account”, then click on it
3. You will be required to fill in your basic details when the page loads.
4. Click on “Create My Account” when you have cross-checked the details you inputted are correct.

Registration through the mobile app

The app can be downloaded both with android and IOS devices.
Go to the App Store (iOS Users) or Play Store (Android Users) and download the app and create a free account.

Is PayStack Application Safe?

As mentioned earlier, the platform is a secure payment gateway that utilizes a token system. The token system used in the platform generates public and private keys to protect every payment that occurs on the platform.
Several sensitive security measures have been implemented by the platform to ensure that it is safe for its users.

Transaction fees on PayStack Application?

The platform charges every customer a transaction fee of 1.5% of every transaction that they do. A little token of ₦100 is deducted from local cards. Similarly, charges of 3.9% and a token of ₦100 are being deducted on international cards.
However, for any transaction carried out which is less than ₦2500, a ₦100 fee would not be charged from your account.
The platform supports cards such as Visa, MasterCard, and Verve.

How to download the PayStack app?

Follow the steps below to download this app:
1. Open your Google Play Store app on your android device. You can as well Open the App Store for those who use iPhones.
2. Then search for “PayStack” on the App Store or Google Play Store.
3. You can now download and install the app to create a free account.

How to contact PayStack?

For those who may have queries or complaints, you can contact PayStack with the following medium below:

You can visit their office at #126 Joel Ogunnaike Street, Ikeja GRA, Ikeja, Lagos, Nigeria.

You can also phone their customer support: +234 163 16160

Complaints can be mailed to their email address: hello@paystack.com

Visit their website: www.paystack.com

Conclusively, PayStack is mainly an online payment medium that gives businesses the access to accept payments digitally.

 

Kuda Bank

Are you on the lookout for a digital bank in Nigeria? Are you unsatisfied with other digital banks in Nigeria?

Do you want a bank that has free, awesome services? I bring to your screen Nigeria’s first mobile only bank that is licensed by the Central Bank of Nigeria.

No other one than Kuda Bank. I mentioned earlier about free awesome services. I know some people find that unbelievable, but on the contrary, it is true.

At Kuda Bank, customers have access to free transfers, automatic savings, zero card maintenance fees, and lots more. All these services are absolutely free.

In this article, I’d be running through some information to know about Kuda Bank as a new customer, intending customer, or returning customer. Let’s get started!

Overview

Kuda Bank is a digital online bank that has been operating in Nigeria since 2017. The bank was formerly known as Kudi Money and was founded in the year 2016 by Babs Ogundeyi and Musty Mustapha.

Kuda Bank is licensed by the CBN and registered under CAC (Corporate Affairs Commission) and NDIC (Nigeria Deposit Insurance Corporation).

It is an incorruptible and legitimate online bank. The bank functions on mobile devices as it is a digital bank. It functions similarly to a commercial bank; however, all transactions are done online via the Kuda Bank App or Website.

The bank needs no paper, and you can open an account with them in minutes. They offer checking accounts with 25 free transfers per month to any account, a free debit card, a free naira virtual card, 15% annual interest earnings savings plans, loans, and a business account.

I’d regard Kuda as the bank of the free. At Kuda, be sure to get the most out of your money compared to other commercial banks.

Features

The bank offers zero transfer fees, even to other banks. It gives out free Physical Debit Card.It offers loans of up to N2,000,000. Zero cash withdrawal fees. Zero ATM maintenance fees. Naira Virtual Card for Free

How to Sign Up

To sign up on the Kuda app, follow the steps listed below.

Firstly, download the Kuda app.

Follow the instructions as seen on the app to open an account.

Deposit money into your account and start enjoying your Kuda account.

Kuda Bank Application

The Kuda Bank App is one of Nigeria’s most popular and innovative banking apps. The app is easy to use and enables users to access banking services from their comfort zone.

It allows transactions to be completed more rapidly. The app was created exclusively for smartphone users. Customers who do not own a smartphone will be unable to open an account with them.

The Kuda mobile banking app is available to download for free on any kind of smartphone, be it Android or iOS. The Kuda bank app is a wonderful resource that helps with your budget and helps you spend more intelligently.

 

How to open an account?

To open a Kuda bank account, there are some requirements expected of you.

Listed below are the essential requirements you need to open a Kuda account:

You must own a smartphone (iOS or Android). You must possess a working telephone number and an email address. You must be 18 years old or older. You must be a citizen of Nigeria.

Kuda Bank accounts offer the

Kuda Bank offers two account opening options, which are: Basic and Full KYC account.

To open these accounts, you’ll need to provide some information. However, none of the accounts require paperwork, and you only need a few minutes to create an account.

Basic Account

Name

Phone number

BVN

Account with Full KYC:

Name

Phone number

BVN

Valid ID.

How do they make a profit?

If you’re still following, you’d begin to wonder how this bank makes a profit when they literally offer free services.

Well, they do make a profit. How?

This digital financial bank does essentially the same thing as commercial banks but with lower overhead costs. They do, however, invest more in technology compared to commercial banks.

They also earn profit by investing retained balances of funds held with them and giving out loans. Bank deposits aren’t just sitting there; they are being utilized to lend money to people who need it, who will in turn pay it back with interest.

Conversely, they invest in assets that yield returns. They also make profits from commission on airtime purchases and service fees paid by merchants when customers use their Kuda Cards to shop.

The investment yields are utilized to defray costs such as transfer fees and so on.

Kuda Bank Loan

Kuda Bank offers short-term overdraft loans with a daily interest rate of 0.3%.

To apply for a Kuda bank loan, follow the following procedures:

Login to the Bank App and tap on your borrowed account.

Next, click on “borrow”.

The next page will show your overdraft.

Click on “Next.”

Next, type in the amount you want to borrow and click “Done.”

Enter your transaction PIN and click “Okay.”

After clicking okay, Your borrowed money will be disbursed and you will have access to spend the money from your account.

How to Transfer Money from Kuda Bank to Other Nigerian Banks

Transferring money to other commercial banks or microfinance banks in Nigeria is very simple.

In this part of the article, I’d go through how you can successfully transfer money from Kuda Bank to other Nigerian banks.

Open and login to your Kuda bank app.

Next, search for and click “Payments.”

Click “Send Money.”

Next, enter transfer details in the appropriate box.

Lastly, confirm and click “Transfer.”

USSD code for money transfers from other banks to Kuda Bank

GT Bank: If you’re a GTB user and you want to make a transfer to a Kuda account , simply dial *737*50*amount*416# from the phone number that’s linked to your GTB account, and then follow the instructions on your screen.

Wema Bank: Simply dial *945*kuda account number*amount# from the phone number that’s linked to your GTB account, and then follow the instructions on your screen.

First Bank: Dial *894*amount*kuda account number# from the phone number that’s linked to your GTB account, and then follow the instructions on your screen.

Customer Care Services

You can get in touch with any of their customer care representative via the app or via email (help@kudabank.com)

 

 

 

 

 

 

 

 

 

 

 

 

Kuda Bank 

Are you on the lookout for a digital bank in Nigeria? Are you unsatisfied with other digital banks in Nigeria?

Do you want a bank that has free awesome services? I bring to your screen, Nigeria’s first mobile only bank that is licensed by Central Bank of Nigeria.

No other one than Kuda Bank. I mentioned earlier about free awesome services, I know some people found that unbelievable, but on the contrary it is true.

At Kuda Bank, customers have access to free transfers, automatic savings, zero card maintenance fees and lots more. All these services are absolutely free.

In this article, I’d be running through some information to know about the Kuda Bank as a new customer, intending customer or a returning customer. Let’s get started!

Overview

Kuda Bank is a digital online bank that has been operating in Nigeria since 2017. The bank was formerly known as Kudi Money and was founded in the year 2016 by Babs Ogundeyi and Musty Mustapha.

Kuda Bank is licensed by CBN and registered under CAC (Corporate Affairs Commission) and NDIC (Nigeria Deposit Insurance Corporation).

It is an incorruptible and legitimate online bank. The bank functions on mobile devices as it is a digital bank, it functions also similarly to commercial bank, however, all transactions are done online via Kuda Bank App or Website.

The bank needs no paper and you can open an account with them in minutes. They offer checking account with 25 free transfers per month to any account, free debit card, free naira virtual card, 15% annual interest earnings savings plans, loans and a business account.

I’d regard Kuda as the bank of the free. At Kuda, be sure to get the most out of your money compared to other commercial banks.

Features

• The bank offers zero transfer fee even to other banks.
• It gives out free Physical Debit Card.
• It offers loans of up to N2,000,000.
• Zero cash withdrawal fees.
• Zero ATM maintenance fees.
• Free Naira Virtual Card.

How to Sign Up?

To sign up on the Kuda app, follow the steps listed below.

Firstly, download the Kuda app.

Follow the instructions as seen on the app to open account.

Deposits money to your account and start enjoying your Kuda account.

Kuda Bank App

The Kuda Bank App is one of Nigeria’s most popular and innovative banking apps. The app is easy to use and enables user access to banking services from their comfort zone.

It allows transactions to be completed more rapidly. The App is created exclusively for smartphone users. Customers who do not own a smartphone will be unable to open an account with them.

Kuda mobile banking app is available to download for free on any kind of smartphone be it Android or iOS. The Kuda bank app is a wonderful resource that helps assist your budget and helps you spend more intelligently.

How to open an account?

To open a Kuda bank account there are some requirements expected of you.

Listed below are the essential requirements you need to opening a Kuda account:

• You must own a smartphone (iOS/Android)
• You must possess a working telephone number and email address
• You must be 18 years and above
• You must be a citizen of Nigeria

Accounts offered in Kuda Bank

Kuda bank offers two account opening options which are: Basic and Full KYC account.

To open these accounts you’ll need to provide some information. However, none of the accounts requires paperwork, and you only need few minutes to create account.

Basic Account:

Name
Phone number
BVN

Full KYC Account:
Name
Phone number
BVN
Valid ID.

How do they make profit?

If you’re still following, you’d begin to wonder how then does this bank make her profit because they literally offer free services.

Well, they do make profit. How?

This digital financial bank does essentially the same thing as commercial banks but with lower overhead costs. They however invest more in technology compared to commercial banks.

They also earn profit by investing retained balances of funds held with them and giving out loans. Bank deposits aren’t just sitting there, they are been utilized to lending money to people who need it who will in return pay back with interest.

Conversely, they invest in assets that yield returns. They also make profits from commission on airtime purchases and service fees paid by merchants when customers use their Kuda Cards to shop.

The investment yields are utilized to defray costs such as transfer fees and so on.

Kuda Bank Loan

Kuda bank offers short-term overdraft loans with a daily interest rate of 0.3%.

To apply for a Kuda bank loan follow the following procedures:

Login to the Bank App and tap on your borrow account.

Next, click on “borrow”.

The next page will show your overdraft.

Click on “Next”.

Next, type in the amount you want to borrow and click “Done”.

Enter your transaction PIN and click “Okay”.

After clicking okay. Your borrowed money will be disbursed and you would have access to spend the money from your account.

How to Transfer Money from Kuda Bank to other Nigeria banks

Transferring money to other commercial banks or microfinance banks in Nigeria is very simple.

In this part of the article I’d go through how you can successfully transfer money from Kuda bank to other Nigeria banks.

Open and Login to your Kuda bank app

Next, search and click “Payments”.

Click “Send Money”.

Next, enter transfer details in the appropriate box.

Lastly, confirm and Click “Transfer”.

USSD code for Transferring Money from Other Banks to Kuda Bank

GT Bank: If you’re a GTB user and you want to make a transfer to a Kuda account , simply dial *737*50*amount*416# from the phone number that’s linked to your GTB account, and then follow the instructions on your screen.

Wema Bank: Simply dial *945*kuda account number*amount# from the phone number that’s linked to your GTB account, and then follow the instructions on your screen.

First Bank: Dial *894*amount*kuda account number# from the phone number that’s linked to your GTB account, and then follow the instructions on your screen.

Customer Care Services

You can get in touch with any of their customer care representative via the app or via email (help@kudabank.com)

 

 

 

 

 

 

 

 

KashKash Loans

In case you need that extra cash to help you to solve your on-the-spot needs, there’s a way you can get it in much less than 10 minutes. In this article, I  would discuss a financial lending platform where you can get your loans easily.

KashKash is among one of Nigeria’s distinguished financial lending platforms that give you immediate loans without collateral.
This reduces the pressure of visiting your traditional banks to get loans. With this platform, you can get a quick loan from the comfort of your home.

An outline of KashKash Loans

Kashkash is one among numerous Nigeria’s leading loan providers that provide quick loans to Nigerians. This loan platform offers you instantaneous loans with no collateral at all. This keeps you away from the stress of going to the bank to get any loan.

Basically, the aim of this platform is to provide simple, speedy, and reliable methods for all Nigerians to get immediate loans without any collateral or documentation.

Requirements to get a loan?

Basically, before receiving financial assistance from this platform, you will have to fulfill its eligibility requirement. These requirements encompass:
1. You must be a citizen of Nigeria.
2. Importantly, you must be within the age range of 22 – 55 years
3. You need to have a strong revenue of profits

How can I borrow a Loan from KashKash?

Here’s the way to borrow from this finance lending platform:
1. Download the KashKash loan app on Google Store or App Store

2. Next, create your account by filling out basic details and submitting it after you are finished.

3. Thereafter, check your profile to be sure if your profile has been verified.

4. If your profile has been verified, you may receive your loan directly into your bank account in much less than 10 mins.

How to download the KashKash app?

To get this loan app, observe these steps:

1. Pick your android device and visit Google Play. In case you use an iOS device, open the App Store.

2. Search for the word “KashKash” inside the search bar.
3. Download and install the loan app and sign in to borrow cash.

How  Much Am I Eligible to borrow on KashKash Loans?

You can borrow as low as N3,000 and as high as N50,000 from the KashKash loan app. The lending period can go as far as 91 days to 365 days.

Interest rates on KashKash Loans?

On this loan app, there is a minimum of 0.1% as much as a 1% interest fee. Additionally, their initial price fee is from NGN 1,174 to NGN 6,000 for only a one-time fee and annual interest fees of 36.5%- 300%. This loan platform calculates your interest rate day by day.

Failure to repay my KashKash loan as at when due?

If you don’t repay your loans in time, you may be not able to obtain any other loan on the platform. Additionally, owing influences your credit score rating, and the interest rate increases day by day. As a result, the amount you are owing will continue increasing until you pay it.

Advantages of the KashKash Loan app?

Right here are a number of the remarkable benefits of this loan platform:
1. There are zero hidden fees;
2. You can borrow up to N200,000
3. This platform is easy, and reliable, in addition, it’s flexible
4. You may pick out your payment tenure
5. This platform is on the go for 24 hours, each day of the week.

KashKash Customer Support?

For customers who may have pending issues with their account, you could reach KashKash through these methods:

Visit their office : Address: Room 301, Jopebi avenue No. 62, Ikeja, Lagos, Nigeria
Send a mail to them at: assist@kashkash.ng

KashKash is a professional loan platform that is able to give you your immediate loans without collateral. Also, there’s no stress to go through before obtaining the loan, not like conventional financial institution loans. Nevertheless, make do pay back your loan in due time to avoid going into debt.

An automobile loan, is a kind of loan you take to purchase a new or used vehicle. The collateral for auto loans is the acquired vehicle, which is a crucial point to remember when you need a Car Loan.

Can you imagine taking out a loan to purchase a car, but the lender keeps the automobile until you pay back the loan. Simply because, if you don’t pay off all of your debt within the allotted time, the lenders can take your automobile.

Another option is to go for car loan that comes without collateral, which means you do not need your vehicle or any other asset as security. A collateral-free auto loan has benefits, but a drawback to this type of loan is that the interest rate is often higher.

The lenders make money from lending you money for the automobile via the interest you agree to pay.

Why Get An Automobile Loan

If you need a vehicle and have a reliable source of income, you may be eligible for a car loan.

You should be able to make monthly payments throughout the duration of the loan with this source of income.

You may get a vehicle loan even if you currently have a car but wish to upgrade. The best loans to use to purchase a new automobile are automotive loans.

Until you are able to repay the lenders with the agreed-upon interest, auto loans utilize the vehicle you are purchasing as collateral.

When compared to other loan types, the interest rate is cheaper when you have a vehicle as collateral.

What to Have in Mind Before Selecting an Automobile Loan?

• When it comes to interest rates, car loans, also known as automobile loans, vehicle loans, or auto-loans, may be challenging to comprehend.
• If you are unfamiliar with the phrases used in the market, you risk selecting a bad vehicle loan.
• Car loan interest rates vary depending on a number of variables.

Prior to making an application for a vehicle loan, it is important to be aware of the following:

The Required Upfront payment

An upfront or down payment is often a sum of money that you must come up with on your own to purchase an automobile. When an automobile is pledged as security for a loan, the lender typically only lends a part of the entire amount.

The more money you put down, the less money you need to borrow and the lower the interest rate you will have to pay.

In certain cases, you may trade in an old car together with the down payment to reduce the amount of the loan needed.

Annual Percentage Rate (APR)

One of the most crucial elements to take into account is the annual percentage rate, since it is crucial to know how much interest you will have to pay over the course of the loan.

Monthly Loan Payments

The majority of auto lenders advise making smaller monthly payments, which lengthens the loan duration. In the long term, doing it in this manner results in higher interest payments. Generally speaking, it is cheaper to repay the loan quickly.

As an example, consider a loan for a $2,000,000 automobile with a 2-year term and a 2.00 percent APR. You will pay around 120,000 Naira in interest on the loan over a 24-month period.

The monthly payment will be lower if you choose to repay the same loan over a five-year period with the same APR, but the total amount of interest you’ll pay will be higher at the conclusion of the process—roughly 60,000 for the same loan amount.

Understanding these elements is essential for a successful vehicle loan. 

Interest Rates On A Car Loan On Average

In Nigeria, banks charge interest on automobile loans ranging from 17% to 30% annually. Due to the existing condition of affairs in Nigeria, a number of variables that contribute to these high interest rates are unavoidable.

If you’re not cautious, you might find yourself paying interest that is more than the car’s initial purchase price.

There are several compelling reasons to apply for a car loan in Nigeria. If you’ve never bought a vehicle before, whether it’s your first or you’re replacing an old one, it might be a frightening notion.

You can ace your loan interview with the help of our comprehensive guide on applying for a car loan in Nigeria.

Applying for a car loan may be complex and unpleasant. The right guidance can make all the difference in your approval and getting a good deal. Here’s a step-by-step guide to getting a vehicle loan in Nigeria.

Procedures Involved in Applying for a Car Loan Application in Nigeria

First you have to determine your financial capacity. Finding out how much you can afford is the first step in the vehicle loan application process. This entails taking a close look at your finances and figuring out how much you can comfortably spend on an automobile.

Determine the type of vehicle you want to buy.

If you decide to pick a brand-new or fairly used car, not to worry, as banks are always available to help you with the finances.

It’s important to know what you want before approaching a bank or car loan company. You’ll have a guide if you change your mind later.

Determine the car’s cost.

You need to know the price of your dream car and when it will arrive once you pay. That is pretty much easy. All you need to do is to visit a dealer shop and select the car you desire. You will also receive a draft invoice.

You should also be informed that banks don’t fund the whole purchase of the car. They only finance 60% of the money, and the rest of the payment is left to you to add up.

If you choose the car you want and the cost of it is N4,000,000. The bank would only give you 60% of that cost, which is N2,400,000.

The remaining NT 1,600,000 will be funded by you. You would be advised to have a car insurance policy, which is usually 5% of the initial value of the car. From our illustration, the amount would be N 200,000.

Car Loan Application in Nigeria

The Vendor

You need to ask your dealer if he/she already has any arrangement with the bank you are obtaining a loan from. This is necessary because most banks do have agreements with some reputable car dealers to aid in the loan process.

You need to understand your bank’s product services.

Financial institutions like banks do have a variety of products which specify their terms and conditions for applying for a car loan. It is also advised that you use a bank that offers product services in relation to car loans.

Such a thing would make the process easier and faster. If your traditional bank doesn’t offer car loan services, you can either choose to continue the procedure with them or try applying at another bank. Nonetheless, it is expected that all banks will have such products available.

Meet with the bank’s customer service.

If you have found out that your bank offers such products and services, you need to meet your account officer to apply for a car loan.

If you insist that you want to try out another bank, you need to first make inquiries by reaching out to their customer service. But if you want to proceed with such a bank, you need to have an account with their bank.

Formal Application Tender

You will be asked to write a formal application for a car loan after settling with your bank.

A copy of your salary receipts, the original invoice for the car, and your employment letter would be attached to your application letter. Your account officer will require all of these details in order to process your loan.

The application procedure

After you have submitted your application letter to your finance officer, you then need to wait for your application to be processed.

The account officer of such a bank would give you some forms to fill in. In the forms, you would be asked to correctly fill in your basic details like residential address, salary details, etc.

You will receive an offer letter.

When your application has been processed and approved, the bank will present you with an offer letter. The offer letter is a document from the bank which states the exact amount of money being loaned to you.

It would also contain the bank’s interest rates, repayment pattern, security fees, etc. The bank would also demand a standing order from you.

A standing order simply means you give your bank permission to deduct some amount of money from your earnings every month.

To confirm such, you need to go through your bank statement by the end of every month to confirm the exact amount that was removed from your account. If the repayment amount is more than 10% as agreed upon, you need to call or visit your account officer to clarify the issue.

Payment of Funds

When you accept the bank’s offer and you are able to fulfill all the requirements needed, the borrowed funds will be paid to your account.

Basically, the bank would only pay you the money when they have issued a bank draft for the car dealer in respect to the payment of the car.

Car Ownership

After the bank has issued a bank draft to the car dealer, you are free to pick up your car. You need to understand that the ownership of the car would be between you and the bank.

On all the car documents, it is your name and the bank’s name that would appear on them.

Notably, banks do not require collateral before granting such loans. The security of such loans is based on the fact that, with the insurance cover, you also pay for the car.

If it then happens that you fail to make payments for the car, they have the legal right to take the car away from you and sell it off in order to recover their loss.

Here are a few last things to think about before you apply:

Ensure you have the required documentation.  The lender will need you to provide them with certain paperwork when you apply for a vehicle loan. These might include things like bank statements, residence documentation, and evidence of income.

Examine the conditions and interest rates offered by several lenders. Lenders vary greatly from one another. Some could provide better terms or interest rates than others. It’s crucial to weigh your alternatives before choosing a lender.

Finally, the procedures highlighted above may not follow due process. There may also be some alterations in the subsequent processing of a loan. This article is to help in understanding the processes involved in a car application process.