USSD codes for loans in Nigeria are a game-changer for those who need quick cash without smartphones, mobile data and the hassle of traditional banking procedures.
Gone are the days of visiting banks and filling out loan application forms because you can use USSD codes to access loan information within minutes.
We spent over 100 hours gathering a comprehensive list of these USSD codes for loans to make it simple and easy for you to get loans from banks or loan apps without data.
Table Showing The Complete List of USSD Code For Loans in Nigeria
|AB Microfinance bank||*389*755#|
|Accion Microfinance Bank||*572*6#|
|Airtel Quick Cash||*561#|
|ALAT Loan By Wema Bank||*945*100|
|First Bank First Advance||*894*11# or *894#|
|GTBank Soft Loan (QuickCredit)||*737*51*51#|
|Quickteller Loan (Airtel, MTN & 9mobile)||*322#|
|Quickteller – Glo Users||*805#|
|Unity Bank Loan||*7799#|
|Zenith Bank Loan||*966#|
What is USSD Banking?
USSD Banking offers a convenient and efficient way of conducting financial transactions using short or quick codes from your mobile device. Unlike banking and loan apps, it does not require an internet connection, only a cellular network. With USSD banking, you can perform various financial operations, including money transfers and airtime purchases.
Advantages of Transacting With USSD
Technology advancements mostly translate to numerous advantages, and USSD is no different. As a marketing tool, it has proven to benefit financial transactions significantly. Some of those benefits are listed below.
- USSD does not need an internet connection to work.
- It allows free-of-charge roaming.
- It practically works on all GSM standard mobile phones. As a result, financial institutions are guaranteed to reach more people, as only some people own a smartphone.
- USSD is highly interactive. Users can quickly see responses on their phone screens and make more requests.
How to Apply For Loans Using USSD Code
If you decide to apply for a loan using USSD codes, follow these simple steps:
- Find out the lender’s USSD code.
- Ensure you meet all the requirements for the loan.
- Dial the USSD code on your phone.
- Follow the instructions on the screen.
- Provide the necessary information.
- Wait for confirmation of your loan application.
- Once approved, the loan will be disbursed to your bank account.
Requirements For Getting Loans Using USSD Code
The following are general requirements for getting loans using USSD codes.
- Personal Information – Full Name, Date of birth, & Email address
- Means of identification
- Bank verification number (BVN)
- Bank account (For bank loans)
It is important to note that the loan platform may request other information.
Frequently Asked Questions
What is the code for a quick cash loan?
The code for the Airtel Quick Cash loan is *561#.
How to get a loan with USSD in Nigeria?
To get a loan with USSD in Nigeria, check our list above and select the loan platform you want to use. Simply dial the code and follow the prompts.
What is the USSD code For Renmoney?
The USSD code for Renmoney is 723#.
What is the first USSD Code for a Loan?
The USSD code for FirstAdvance is *894*11#.
Does Fairmoney have a USSD code?
Yes, the Fairmoney Loan USSD code is *322*2#
What is the code to borrow money online?
The code to borrow money online varies depending on the lender or financial institution providing the service. You must check with your preferred lender to find out their specific USSD code for borrowing money online.
What would happen if someone couldn’t pay back their loan?
The lender may charge late payment fees, increasing the total amount owed. If the borrower continues to default on payments, the lender may report their delinquency to credit bureaus, which could negatively impact their credit score and make it difficult to obtain credit in the future.
USSD codes have made quick loan access more convenient for Nigerians. However, learning about loan repayment terms and conditions and ensuring to pay on or before the due date is essential to avoid sanctions.