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  • Business - Your Money
  • Updated: Nov 18, 2020

Quick Loans For N-Power Beneficiaries (Part Two)

Quick Loans For N-Power Beneficiaries (Part Two)

There are several quick loan opportunities for N-Power beneficiaries looking for financial support. AllNews started to collate these credit opportunities to reduce the stress of having to surf through the internet. This is the second series of loan available for N-Power beneficiaries.

One thing is clear, quick loans are now the best way to obtain loan compared to seeking for loan at the bank. These quick loan enable N-Power beneficiaries to obtain loan within five minutes through their phone without having to provide any collateral or fill paperworks.

All N-Power beneficiaries need to do is download mobile apps of these quick loans, register, and get alert for requested loan. In the first series, AllNews listed five quick loans, in this series, another list of five quick loan apps will be suggested for N-Power beneficiaries.

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Five Quick Loans For N-Power Beneficiaries

Eyowo: This quick loan was founded by Tomi Amao. Eyowo comes with a different flavour, as it offers credit applicants interest-free loan, and also doesn't demand for collateral. With Eyowo, all loan seekers need to get started to obtain loan is phone number.

Eyowo's interest-free loan is what differentiates it from other loan apps. Over three million people are using the Eyowo platform according to company which also offers its users savings opportunity.

Quick Check: This loan app is good for when N-Power beneficiaries need emergency funds but no family or friends available to borrow them. With Quick Check, N-Power beneficiaries don't need to provide a guarantor just to apply or obtain loan. Currently, QuickCheck has been downloaded over 500,000 times.

Quick Check, which is co-founded by Bola Martins-Kuye, borrow loan seekers as much as NGN200,000, and you get to choose your preferred loan tenure or due date. Quick Check offer its loan for as low as five percent, although, the interest rate can be influenced by the range of loan needed.

Fairmoney: This is another loan app that is available for N-Power beneficiaries to use whenever they are in need of cash. Laurin Hainy heads FairMoney, where about 1,500 loans are issued daily. The popularity of FairMoney has grown looking at the number of times its app has been downloaded - one million.

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FairMoney gives loan seekers loan ranging from NGN1,500 to NGN500,000. The interest rate is tied to the amount demanded by the loan applicant. However, FairMoney's interest rate is high, but it's a good loan app to turn to when in need of money.

GoCash: This is one of the least popular quick loan apps, but that doesn't reduce GoCash's value in the quick loan market, as it also offers loan in minutes. Although it has only been downloaded 100,000 times, it is a loan app that promises low interest rate.

N-Power beneficiaries can borrow as much as NGN300,000 from their mobile phone without having to visit any office or submit paperwork. But in as much as GoCash promise low interest rate, note that the amount you borrow is also a determinant.

Alat: This is Wema Bank's quick loan initiative, where the bank offer loan seekers credit to make purchases. Despite being a Wema Bank loan platform, you don't have to visit the bank to apply or obtain loan - all that is need is register on the Alat app.

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