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USSD Codes for Personal Loans in Nigeria (2022)

USSD Codes for Personal Loans in Nigeria (2022). With technology taking over almost every sphere of our existence, the financial industry is fast accepting Unstructured Supplementary Service Data (USSD) codes as a means of disbursing personal loans.  

The adoption of technology naturally means that carrying out daily tasks is becoming more fast-paced. This has been reflected in the telecoms and financial industry with the introduction of the USSD.  

USSD is highly interactive as users can quickly see responses on their phone screens and can make more requests hence allowing faster two-way communication and interaction in real-time.  

Advantages of transacting with USSD  

Advancement in technology mostly translates to numerous advantages and USSD is no different. As a marketing tool, it has proven to be of significant benefit to financial transactions.  

Some of those benefits are listed below. 

  • USSD does not require an internet connection or data subscription 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 not everyone owns a smartphone. 
  • USSD can work across all mobile networks. It only needs a connection to the GSM network to work as it’s not mobile or SIM-based. 
  • USSD is highly interactive. Users can quickly see responses on their phone screens and can make more requests hence allowing faster two-way communication and interaction that is seven times faster than SMS. 
  • It is extremely cost-effective for businesses to implement and run. It is also free for customers to use. 
  • USSD content can be personalized and responses can be obtained in real-time. 
  • It is user-friendly and can be used by anyone. 

How does this impact the financial industry? 

As stated, it is evident that USSD remains a relevant and important technology.  Regarding loan providers in Nigeria, USSD provides several opportunities for businesses to better target and reach their various customer bases.  

This technology is both simple and powerful and is being used across applications to achieve several specific business goals and objectives.  

Other than being a way to quickly access loans, financial institutions have deployed the technology to enhance such services as paying bills, buying airtime and other purchases, transferring funds between customers, and setting up automated savings. 

What is a Personal loan? 

Personal loans are a form of installment credit. Unlike the others, a personal loan delivers a one-time payment of cash to borrowers. With personal loans, borrowers are expected to pay back the amount borrowed plus interest in regular, monthly installments over the lifetime of the loan, known as its term. 

Getting a loan via USSD 

The steps to applying for a Personal loan via USSD are quite simple and pretty straightforward. As a borrower, all you need to do is be familiar with the loan provider you’re borrowing from, get their functional USSD code, meet all specified requirements, dial the code, follow the prompt and get your loan. 

USSD Codes For Personal Loans In Nigeria 

As it stands, many financial houses have taken full advantage of USSD and all that it offers to better serve their customers.  

Below is a list of lending platforms and their codes for accessing personal loans in Nigeria:

Alat by Wema Bank – *945*100 

As with most USSD transactions, activating Alat’s code is quite simple. All you have to do is dial *945# on the mobile line that is connected to your bank account.  After dialing, follow the prompts and choose the options suited to you. Choose the account you want to make transactions from. Select a confidential PIN and confirm it.  

The Alat By Wema USSD code can be used to achieve various functions including account management, cardless transactions, school and exam purposes, payment of electricity bills and internet services, airtime, data and transfer transactions, and loan application.  

Carbon – *1303# 

Although one of the biggest loan app platforms in Nigeria, the Carbon USSD code has some limitations. It can only be used on MTN and 9mobile platforms. By dialing *1303#, users can carry out various transactions including applying for and repaying loans.  

FairMoney – *3226# 

The USSD code for getting a FairMoney loan is *3226#. It’s as easy as checking your calling credit. The FairMoney USSD code promises a stress-free process, weeding out the waiting time. Furthermore, the loan is approved and granted within minutes with no warranty or guarantee or documentation requirements. 

Glo Cash Loan – *321# 

The Glo cash loan is convenient, risk-free, and affordability. The rate is relatively cheaper than some quick online loans. This loan offers funds of up to 50,000 via Glo mobile money, to all active Glo prepaid customers who can also make money through the Glo affiliate program. 

The procedures for acquiring a loan from Glo are quite easy and hassle-free but all can be done through Glo cash loan code *321#. 

 Quickteller – *322# 

Quickteller by Interswitch loans are accessible via the Quickteller website, Quickteller mobile app or *322#. 

 Kwikcash (9Mobile/Airtel) – *561# 

Kwikcash is a loan platform that provides quick personal loans to Nigerians. This mobile loan service is only available to 9mobile and Airtel subscribers.  

Generally,  9mobile subscribers who have registered for Kwikcash can enjoy the service by dialing *561#, following the simple prompts, and will receive money directly to their bank account.

With this loan service, you can access between 1,000 –100,000. Lastly, paying back the loan is just as simple and straightforward and can be done from the phone. 

Migo Loan – *561# 

Similar to Kwikcash, with Migo, you cannot just receive loans via the short code, you can also make repayments with it. You can receive and pay back personal loans by dialing *561#.  

To repay a loan, dial *561# from your registered mobile number, Select ‘Loans’, navigate to ‘Pay Loan’, select the ‘pay with phone option from the list of payment methods, select ‘add card’, and follow the instructions on how to register a card. Confirm payment and you will receive a confirmation message for your payment.  

MTN XtraCash – *606*4# 

Popular GSM network, MTN also offers its subscribers an opportunity to access personal loans in their time of need.  By dialing the USSD code *606# and selecting XtraCash on the menu, MTN subscribers are given the opportunity to apply for the loan and thereafter know the amount that they are allowed to borrow.  

Once your application is successful, the Xtracash Loan amount would be credited to the customers’ Diamond Yello Account. The MTN Xtracash loan maturity period is 30 days at an interest rate of 15%. 

Payattitude – *569# 

Payattitude Digital is a multibank USSD and App for POS, ATM, Web, and person-to-person transactions with just a phone number.  Payattitude digital is linked to a subscriber/customer’s Debit or prepaid account enabling the subscriber/customer to debit his/her account(s) for different payment transactions. 

Accounts can be linked or created by simply downloading the Payattitude Digital app from the app store or by dialing *569# (USSD).  

Airtel Smart Loan – *903# 

To borrow money from Airtel, you need to go through a unique Airtel loan code number by dialing *903# to apply. After dialing the loan code *903#, choose Airtel Smart Loan from the menu provided and enter your Mobile Money PIN.  Choose whether you want to take out a loan, repay or want to know more about Smart Loan. To take out a loan, select the loan amount you need,  how many days you want to repay the loan, confirm the loan, agree to the terms, and just like that, your personal loan is ready.  

The loans are normally for 7, 14, 21, or 30 days, with a one-time payment at the end of the term you choose. 




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