Compare loans in Lagos from the best, you do not have to pay back 20% or more as interest.
Whether it is accessing quick loans in Lagos for something urgent you need to fix or need a credit facility to grow your business, you will have a lot of loan companies in Lagos to choose from.
With many lending institutions, you have ample choices deciding which works best for personal loans, SME finance, payday, device financing to a lot of others.
There are competing to have you hence, enjoy doing shakara whether it is for a salary advance, school fee or some urgent funds for business because you will always get one.
CredPal gives you access to a line of credit, meaning you won’t need to wait for approval as your fund is always available for use after repayment hence, faster.
Since its primary service is offering credit cards, the line of credit approach makes it a great choice if you want to pay less interest for acquired funds.
What it means is that, if you have been given ₦1, 000, 000 and you end up using just ₦300, 000, you will only have to pay interest on the funds used.
In this case ₦7,500 as against ₦25, 000 at the interest rate of 2.5% which is the monthly rate for its prestige credit card.
Lagos is home to most of the loan providers in Nigeria, thanks to its highly dense population and rise in technology adoption.
But because of varying terms from these loan companies in Lagos that most times are either ignored or not clearly understood, you can end up paying so high as interest at the end of the loan tenor.
Take for instance offerings from some of the fintech solutions around, you can pay as high as 30% for a few weeks credit which is way high when compared to other loans in Lagos provider that can offer you 10% or less for the same length.
Unfortunately for the need especially when it is urgent, you will have to take it irrespective of what you will have to pay back as interest.
The good thing is, you can save a lot of money considering another offer from one of the providers fighting to grab your attention.
Loans in Lagos and Offerings
Here below are the loan companies in Lagos with the applicable terms and other information you should know:
CredPal allows you to access funds as a line of credit that is available to you anytime without the stress of having to apply every time.
It is primarily a credit card focused provider but has a loan service that gives you an opportunity to access up to ₦5, 000, 000 for a 12 months period.
Being a credit card provider, you will be given a card that you can use for withdrawal at ATM centres or use anywhere card payment is accepted.
Nevertheless, you can always transfer your funds to a bank account in case you do not care for a card or it is not readily available once you register as it will take some days before you get one.
You might not even need a standard loan if the money you require is within ₦1,000,000 considering that you can get up to that with its credit card.
At the rate of just 3.5% interest rate per month, this is one of the best loans in Lagos providers you can consider.
Credit Direct is one of the best loan companies in Lagos where you can access funds to fix your urgent needs.
You can get up to 2.5 million naira for a maximum length of 12 months which will be repayable at an interest rate of 5% monthly.
The minimum credit is ₦100, 000. Meaning if you do not need up to this much, you might have to consider an offer from one of the other loans in Lagos providers.
It has different types of loan ranging from that for Youth Corp members, salary earners to that for businesses.
Page Financials is one of those loans in Lagos providers catering for the credit needs of individuals and businesses with a verifiable source of income.
With this institution, you can apply for a loan of up to ₦5, 000, 000 which will be repayable within a maximum of 12 months.
It also has a minimum loan request amount of ₦100, 000. If your need is below this limit, your application might not be considered.
With an interest of 3.75% on monthly basis, this is one of the loan companies in Lagos you should have on your list sourcing for funds.
Zedvance can provide a credit facility between ₦50, 000 and ₦5, 000, 000 to you if you work in the private sector or between ₦20, 000 and ₦3, 000, 000 for public sector employees.
The latter group will be eligible to have the loan running for a maximum of 24 months as against the 18 months for private sector individuals.
At 3.5%, Zedvance is one of the cheapest in terms of interest rates amongst the loans in Lagos providers.
LMoney is one of the loan companies in Lagos allowing you to access needed funds to fix your wants.
With this provider, you can get a loan ranging from ₦50, 000 to its highest of ₦2, 000, 000, depending on eligible value after checking your creditworthiness.
While the provided facility could be for several reasons, you must have a verifiable source of income on monthly basis to be qualified. Hence, a salary earner stands a high possibility.
Easyloans gives between the sum of ₦100, 000 and ₦2, 000, 000 as a credit facility which has to be paid within its maximum of 24 months tenor.
Just as other loan companies in Lagos in this list, your eligibility depends on a verifiable source of monthly income.
At 5%, no doubt Easyloans is a good alternative if your loans in Lagos application and requirements documents did not work well with the others.
Loans in Lagos Calculator
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No doubt Nigeria’s biggest commercial city is home to a lot of lending companies hence, a lot of things you should always look out for in order to get the best when looking for loans in Lagos.
In applying for funds, checking out options improves your chances of getting one from a provider and also, knowing the varying interest rates from each of the companies will help you save on loans in Lagos.
We put in a good work through rounds of testing and research for you to get the best.
We are committed to your satisfaction. Do reach out to us for any required clarification.
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