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Loans for Salary Earners in Nigeria – Best To Apply For

This article contain the list of the best Loans for Salary Earners in Nigeria, and also how to apply for the loan. Read along...

by Eniola Samuel
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Loans for Salary Earners in Nigeria

It is human’s nature to need something at a particular time in life, this also applies to lacking money at some point in our life.  This article on the best Loans for Salary Earners in Nigeria will help you out.

One of the ways we solve them is by taking advance and then paying later, most individuals do this as it is one of the ways to get quick money for quick needs.

Some might be surprised why a salary earner who gets paid monthly might need to borrow some money, I’d say this is pretty common.

We have unexpected debts, payment of bills and others come in when we don’t expect them, the only to solve them is by looking into ways to get the money.

Taking a loan might be the only solution you have sometimes and getting them is another as you need reliable sources to get them under good repaying conditions.

What we are going to talk about in this article is the list of the best Loans for Salary Earners in Nigeria.

How do I get a loan as a salary earner in Nigeria?

Getting loans for salary earners in Nigeria is easy when you sign up with the right loan provider company.

There are lots of Fintech organizations and Banks you can sign up with for loans.

Check out:  How To Apply For Loan With EaseMoni

We have some of them that have made it easier for people to apply for loans online while some require physical presence for loans.

All you will need to know is the information needed as part of their requirements for a loan and also their terms and condition for a loan before applying.

Requirements for a loan application as a salary earner

As mentioned above, there are some requirements you need to meet in order to be able to apply for Loans for Salary Earners in Nigeria.

The requirements can vary depending on the financial lender or loan company, but we try to cover all the basic requirements you’ll need for a loan.

To access a payday loan you’ll need the following:

Personal details: This consists of your full name, e-mail address, phone number, occupation, etc.

A valid method of identification: You can use any valid ID issued by the Federal Government, you can make use of the ID of the organization you work for.

Active Bank account: You must possess an active bank account with a commercial bank in Nigeria. The account must be a current or a savings account.

Your bank account must show a verifiable source of income from a year to three months. The duration for this is usually based on each lender.

Letter of Employment: You might need to present a copy of your employment letter if needed by the lender, this is used to verify that you are legally employed.

Age requirements: The loan application is currently restricted to the same age groups depending on the lending company. Most lending company age requirement is from 23-55 years to get a payday loan.

What is the Maximum Loan Amount I can borrow as a salary earner?

This solely depends on the lending company with the use of your past transaction information to find the right loan amount for you.

For a quick personal loan, you can apply for a Migo loan and KashKash Loan as they have a faster approval time.

The general amount for a loan can range from N5,000 to 25 million naira depending on certain factors used by the lending company.

Your credit score, credit history, past transaction, and others will be the judge of the right amount of loan you can receive.

Best Loans for Salary Earners in Nigeria

As mentioned above we have so many Loans for Salary Earners in Nigeria. Here is a list of the best Loans for Salary Earners in Nigeria can choose from:

Credit Nigeria

Access Bank Plc. (PayDay Loan)

Guarantee Trust Bank (QuickCredit)



Page financial (Remit Credit)


First City Monument Bank (Fast Cash)




X3 loan

Credit Direct

United Bank for Africa (Click Credit)

Harvmoney (Salary Earners Loan)

How are funds disbursed?

Fund disbursement method and duration are solely based on the lender’s policy. Most lenders pay you within 24 hours to instant depending on terms and bank network.

As long as you have been successfully approved of a loan, you can be sure to receive it as soon as possible.

Payment is made safely to the bank account details submitted during your loan application.

What are the loan repayment terms?

Loan repayment terms are mostly flexible depending on the lending company you apply for a loan from.

Some loans are meant to be paid installment while some are a one-off payment. It may be weekly or monthly payments.


Securing a loan is easy depending on your need, the lending company you apply with, and your credit score.

Before you apply for a loan with any lender make sure you review their terms and conditions and requirements so as not to fall into a trap.

You should also review between 1 to 5 loan companies before arriving at a final conclusion on the lending company to apply with.

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