This post will explain how to use USSD Codes to get quick loans in Nigeria.
Getting a loan normally entails opening an account with a bank, going to the bank, meeting with your account officer or the bank’s loan officer, filling out a loan application, and ideally waiting for your loan to be granted. That’s a lot of pressure, especially now that you can quickly send a USSD code to your preferred loan platform to acquire loan details.
With USSD codes, you can easily receive your loans in a matter of minutes. However, we highly encourage you not to hurry into making loan choices without first evaluating loan offers from several lenders.
Related:
Top Nigerian Bank USSD Codes
The Best Fintech Companies in Nigeria
How to borrow money online in Nigeria – Things to Consider
Contents
What is USSD?
The term USSD stands for Unstructured Supplementary Service Data. It’s sometimes referred to as quick code.
They are, as the name suggests, codes used to access options through your mobile telecommunications network provider. USSD may be used for a variety of purposes, including callback service, mobile money, content and information, and network setup. In this scenario, we look at how USSD is used in banking.
What is USSD Banking?
USSD Banking is a sort of banking that enables you to do financial transactions from your phone using short or quick codes. It only requires a mobile network and no internet connection. You can do practically any financial activity with USSD banking, from transfers to purchasing airtime. More importantly, you can obtain loans by using USSD codes.
How to Apply for Loans Using USSD Codes in Nigeria
The steps to applying for a loan via USSD are straightforward. You simply need to:
- Know which loan provider you’re borrowing from.
- Get the functional USSD code
- Meet all specified requirements
- Dial the code
- Follow the prompt
- Get your loan
USSD Codes for Loans in Nigeria
To apply for a loan via USSD, you simply need to input the code into your phone and follow the prompts that pop up. Some USSD Codes for loans in Nigeria are:
| Platform | USSD Code for Loans |
| AB Microfinance Bank | *389*755# |
| Access Bank Payday Loan | *901*11# |
| Accion Microfinance Bank | *572*6# |
| Airtel Quick Cash | *561# |
| ALAT Loan By Wema Bank | *945*100 |
| Aledin Nano | *903# |
| Carbon Loan | *1303# |
| Ecobank Xpress | *326# |
| Etisalat | *561# |
| Fairmoney Loan | *322*2# |
| FCMB | *329# |
| First Bank First Advance | *894*11# or *894# |
| Glo Cash | *322*1*04225701*Amount# |
| GTBank Soft Loan (QuickCredit) | *737*51*51# |
| Interswitch | *322# |
| Kwikcash | *561# |
| Migo Loan | *561# |
| MTN Cash | *606*4# |
| Trader Moni | *540# |
| Paga | *242# |
| Payattitude | *569# |
| Paylater USSD Code | *1303# |
| Quickteller Loan (Airtel, MTN & 9mobile) | *322# |
| Quickteller – Glo Users | *805# |
| UBA Loan Code | *919# |
| Unity Bank Loan Code | *7799# |
| Zenith Bank Loan | *966# |
Requirements for Getting Loans Using a USSD Code
The criteria are as simple as the USSD loans themselves. To obtain most banks’ loans via USSD, you must first have an account with the bank/financial institution.
However, you do not need an account with other quick loan providers. Aside from that, you must provide your full name, bank verification number, account details, and address, as well as any other information requested by the loan provider.