Loan Code in Nigeria: USSD Code for Loans in Nigeria, Short Code to Borrow Loan
What if I want to show you the loan code in Nigeria and the short code to borrow a loan? So, stop scrolling and see what I have got for you.
Using USSD codes for Loans in Nigeria is one of the fastest means of accessing bank loans due to their ease of use and accessibility of the loan application process.
With these codes, you can access quick and convenient loan options in case of a financial emergency.
Compared to the traditional loan application process, that feels like a never-ending labyrinth, with piles of paperwork and endless waiting periods.
Using loan code in Nigeria is simpler, faster, and more accessible.
All you need to do is to enter USSD codes for loans in Nigeria to unlock instant cash with just a few taps on your mobile phone.
With this, you can eliminate the need for tedious paperwork, credit checks, or even an internet connection.
Moreover, the short codes to borrow loan have revolutionized the way loans can be accessed by Nigerians while providing a lifeline for those in need of financial assistance.
In this blog post, we have compiled a list of loan code in Nigeria for most conventional banks.
Also, the USSD code for loan in Nigeria for Microfinance banks as well as the online banking system, will be shared.
In addition, short code to borrow loan from your network provider will be listed as well.
Before then, let’s take you through what USSD code and USSD banking mean.
What is USSD Code?
USSD, Unstructured Supplementary Service Data, is a technology telecommunication company that allows customers to communicate with their service provider’s computer system using a simple, shortcode format.
USSD Codes are referred to as “Short Codes” or “Quick Codes” and are used in communicating by mobile phones to exchange information with mobile networks operator computers.
The codes are used to perform simple and quick operations like loading airtime and data, mobile-money services location-based content services.
They are also used for menu-based information services and as part of configuring the phone on the network.
What is the USSD Banking System?
USSD banking system is a banking service that allows customers to access their bank accounts and perform various banking transactions using USSD codes.
USSD codes for banking services can be used to check account balances, funds transfers, bill payments, airtime purchases, and for loan applications.
Benefits of Using Loan Code in Nigeria
Aside from the Loan codes being short, easy-to-remember, and allowing access to loans quickly and conveniently, there are also other benefits they have.
Some of them include:
- Accessibility:
USSD code for loan in Nigeria are accessible, regardless of your location or socioeconomic status.
As such, you can easily get loans without traditional banking services.
- Flexibility
With Loan codes, you get various loan options, including short-term, medium-term, and long-term loans.
Also, you choose the loan option that best suits your needs and repayment capacity.
- Convenience:
In addition, it is also convenient to use a short code to borrow loan.
As the application process is designed for easy and quick access.
You can use the code to apply for the loan on your phone and from anywhere, having to go to the bank.
- Speed:
USSD code for loan offer quick loan disbursement within minutes or hours of application approval.
This gives you access to your funds quickly.
- Transparency:
In addition, the process is transparent when it comes to interest rates, fees, and repayment schedules.
This also helps you to make informed decisions about their borrowing options.
- Lower interest rates:
Finally, Loan codes offer lower interest rates than traditional bank loans, which makes them a more affordable option for many borrowers.
Requirements for Getting Loans Using a USSD Code for Loans in Nigeria
To use the loan code in Nigeria, you need to:
- Have a mobile phone and number registered with your BVN.
- Have a functional bank account.
- Activate the use of the USSD code on your phone by Signing up with a loan provider of your choice
- Provide your information, such as full name, BVN, email, and physical address
- Also, Provide your account number
- Get the USSD code of the loan provider
- Learn about loan repayment terms and conditions
- You may also need a certain credit score to qualify for a loan.
However, kindly note that the requirements may vary depending on the financial institution and the specific loan product offered.
As such, you have to review the loan terms and conditions carefully before applying for a loan using a USSD code.
How to Apply for Loans Using Short Codes to Borrow
To apply for a loan using USSD codes for loan in Nigeria,
- Dial the USSD code for the bank through which you want the loan.
- Select the loan option from their onscreen menu.
- Givr the required information, including the loan amount, repayment period, and personal information.
- Review the terms and conditions of the loan before accepting the loan offer.
Meanwhile, the application process and requirements may vary depending on the bank offering the loan.
Also, It is important to carefully review the terms and conditions before accepting any loan offer to avoid unforeseen charges or fees.
List of Loan Code in Nigeria for Banks in Nigeria
| Banks | USSD Code |
| ALAT Loan By Wema Bank | *945*100# |
| Ecobank Xpress | *326# |
| FCMB | *329# |
| First Bank First Advance | *894*11# or *894# |
| GTBank Soft Loan (QuickCredit) | *737*51*51# |
| Payattitude | *569# |
| Stanbic IBTC | *909# |
| Standard Chartered Bank | *120# |
| Ecobank | *326# |
| Sterling Bank | *822# |
| Polaris Bank | *833# |
| Jaiz bank | *773# |
| UBA | *919# |
| Union Bank | *826# |
| Unity Bank | *7799# |
| Zenith Bank | *966# |
| Access Bank (Payday Loan) | *901*11# |
| Fidelity | *770*08# |
| Sterling Bank | *822# |
| Polaris Payday Loan | *833*12# |
| Interswitch Loan | *322# |
| Heritage Bank | *322# |
| Keystone Bank | *533# |
List of Microfinance Bank Loan Code in Nigeria
| Microfinance Banks | USSD Code for Loan |
| AB Microfinance Bank | *389*755# |
| Accion MFB Loan USSD Code | *572*6# |
| Aledin Nano | *903# |
| Kwikcash | *561# |
| Paga | *242# |
| Trader Moni | *540# |
List of Loan Apps USSD Code for Loan in Nigeria
| Loan Apps | USSD Codes for Loan |
| Aledin Nano Loan USSD Code | *903# |
| Carbon | *1303# |
| Easemoni Loan Code | *347*334# |
| Fairmoney Loan | *322*2# |
| Kia Kia | *448# |
| Kwik cash Loan USSD Code | *561# |
| Migo | *561# |
| Opay | *955# |
| Palmpay | *652# |
| Zedvance | *347*334# |
List of Airtime Short Codes to Borrow Loan
| Network Provider | Short Codes to borrow loans |
| Airtel Quick Cash | *303# |
| Etisalat | *303# |
| Mtn cash | *303# |
| Glo Cash | *303# |
Final Note on Loan Code in Nigeria
USSD code for loans in Nigeria has made accessing loans easier using mobile phones.
To get it, you don’t need to go to the bank; all you need is the loan code in Nigeria to request for the loan.
However, you need to meet some requirements and learn how to use the short code to borrow loan.
Also, it is important to note that the requirements and application process for accessing loans through USSD codes differs for each financial institution.
Furthermore, you have to know that loans have to be repaid as and when due to avoid negative consequences such as penalties, additional fees, and damage to credit scores.
You can also use the USSD code for loans in Nigeria to get an airtime loan from your network provider.
We hope this article is helpful!
Frequently Asked Questions About Loan Code in Nigeria
How can I use the USSD code to get a loan?
To use the short code to borrow loan, dial the USSD code for the bank through which you want to get the loan on your phone.
Select the loan option from the on-screen menu, and provide the required information, including the loan amount, repayment period, and personal information.
However, don’t forget to Review the terms and conditions of the loan before accepting it.
What is the maximum amount that can be accessed through the USSD code for loans in Nigeria?
The maximum loan amount you can access through USSD codes varies depending on the financial institution.
However, Some financial institutions can give loans as low as ₦1,000 and as high as ₦1,000,000.
What is the GTBANK(Quick Credit) USSD code for a loan?
To get GTbank quick credit loan, dial the USSD code *737*51*51# on your phone registered with GTBank.
How Can I get a loan from Xtracash?
To get a loan from Xtracash, you must be eighteen (18) years old or more to qualify for a loan.
Then dial *322*6# and select the Xtracash Loan option
Do I need to pay to access loans through a loan code in Nigeria?
Depending on the financial institution, you may be charged to access loans through USSD codes.
However, the fees vary depending on the financial institution and the type of loan due to some financial institutions charging processing fees, interest rates, and other fees.
What is the code to get MIGO loan?
To get a MIGO loan, use the Migo loan USSD code *561#.
However, note that Migo loan has the legality of all its loan agreements.
How long does it take to get a loan through USSD codes?
The time it takes to receive your loan through USSD codes varies depending on the financial institution.
However, with some financial institutions, you can get instant loans that can be disbursed within minutes
It may also take a few days to process and disburse loans with other financial institutions.
