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USSD Code for Quick Loans in Nigeria (2022)

Getting a quick or personal loan used to be tedious in the past, but today, borrowers can have access to funds, sometimes within minutes, just by dialing a short code otherwise known as USSD.  Bank customers in Nigeria are now promised a more fast-paced banking service with the digitisation of all traditional banking products, processes, and activities through online channels. 

While internet penetration is still relatively low in the country, traditional banking services have largely been made available on mobile phones, computers, and compatible smart devices, without the need for a customer’s presence in the bank branch.  

Cash withdrawals, funds transfers, checking or managing bank accounts, opening deposit accounts, bill payments, and more recently, accessing loans are listed among the banking services that can be obtained without necessarily going to the bank. 

What is USSD?  

USSD is an acronym that stands for Unstructured Supplementary Service Data. It’s also known as quick code. As the name implies, they are codes used to access options through your mobile telecommunication network provider.  

USSD can be used for a range of things including checking your account balance, transferring funds to others, buying airtime directly from your account, mobile money, and checking your balance among a wide array of banking services.  

By its nature, all it requires is a cellular network. No internet connection is required. More recently, some banking and loan outfits have adopted their USSD platforms for acquiring loans.  


 Why does USSD matter for mobile financial services? 

There are several reasons why the USSD service is important not just for loan seekers but for the entire banking service in Nigeria.  

As earlier stated, internet penetration is still pretty much very low in the country. More individuals can be reached with USSD services, even in the most remote areas, as long as there is telephone service.  

Other than the assured financial inclusion, USSD serves to boost mobile transactions, thereby decongesting the banking hall. 

It also promotes competition in mobile payments 


Getting started with USSD Codes for loans in Nigeria 

As with most financial transactions, getting started with any bank or loan platform has been simplified for the customers. To get started with any loan app or platform, you will need to meet the basic requirements below: 

  • Sign up with a loan provider of your choice 
  • Provide your full name, BVN, email, and physical address 
  • Provide your account number 
  • Get the USSD code of the loan provider 
  • Learn about loan repayment terms and condition  
  • Ensure you meet with payment due date to avoid sanction online 

Before you dial that code, be sure that you have made your findings about the benefits of the different loan platforms. nairaCompare has collated a list of the best payday loans in Nigeria 

These apps can help you get loans very fast with little to no paperwork and almost instantly once you meet their requirements. 

Basically, the requirement involves providing your correct data including BVN, Bank Details, Valid ID, and sometimes salary account statement or your business CAC (Corporate Affairs Commission) certificate. 

USSD Code for Quick Loans in Nigeria  

1. GTB Quick Credit 

This loan is available for both salary earners and self-employed individuals. Quick Credit offers instant loans that can be paid back in up to 12 months at an interest rate of 1.5% monthly. 

You can request for QuickCredit instantly by dialing *737*51*51#. It is also on all GTBank online and mobile banking platforms. 


 2. AB Microfinance Bank  

ABmobile, by AB Microfinance Bank, is a free mobile banking app that enables customers to perform all the available transactions free of charge.  With a fast, secure, and convenient method, its short code, *389*755# enables borrowers to access loans and execute basic banking transactions. 


 3. Access Bank Payday Loan 

The Access bank Payday loan USSD short code is *901*11*1#. It is accessible via all networks in Nigeria, and with any mobile phone that can make a call, you are good to apply for a Payday loan via the shortcode. 

Unveiled in 2018, accessing the Payday Loan via USSD does not require collateral or a guarantor, and it enables customers to obtain loans instantly without visiting the bank. 


 4. Alat Loan by Wema Bank

The Wema USSD banking code is *945# and it is always available to everyone. To make use of it, borrowers must have an account with Wema bank. 

To activate the USSD Codes, all borrowers have to do is dial *945# on the mobile line that is connected to their bank account, follow the prompts, and choose the best-suited option. 


5. Carbon Loan 

The popular loan service provider has also ramped up its financial inclusion drive by launching the USSD code *1303#. 

With the code, customers are now able to quickly take a loan and make other transactions like buying airtime, checking account balances, making deposits, and withdrawing money.


6. Ecobank Xpress 

In 2020, Ecobank introduced a new product offering, Xpress which enables customers to either open a digital saving account or take out loans.  

Through Ecobank Xpress, which can be accessed by dialing the short code *326#, borrowers can obtain short-term micro-credit loans using their mobile phones. 


7. Fairmoney Loan 

Fairmoney is a Nigerian-French fintech authorized to provide loans to Nigerians. This company is known for providing quick loans in Nigeria without asking for any collateral.  Like its competitors, Fairmoney also has a USSD code through which borrowers can access funds.

The USSD code for getting Fairmoney loan is *322*2#.  It’s as easy as checking your calling credit. 


 8. FCMB (First City Monument Bank) 

FCMB FastCash is a convenient, paperless credit facility with no collateral required. Through it, borrowers on the platform can meet their emergencies and urgent needs.  

It is an instant loan and the application can be done through the bank’s USSD code *329#. 


9.  First Bank FirstAdvance 

First Bank is Nigeria’s oldest bank, but thankfully, it has not remained in the past.  In keeping up with the times, the bank launched FirstAdvance, a digital lending solution designed to offer convenient and easy access to cash for payroll customers awaiting payment of their salaries. The product is meant for salary earners whose accounts are domiciled with FirstBank and have received regular salaries in the last six months or more.  

This product can be accessed via its digital channels as well as the USSD *894*11# or *894#. 


 10. UBA (United Bank for Africa) Loan Code*919# 

With its short code, *919#, UBA, another of Nigeria’s premier banks, offers its customers the full banking experience.  Other than accessing loans through the USSD, customers can also open a UBA account, transfer funds, buy airtime for themselves, family & friends, pay bills, pay for flights and check their account balance all on their mobile phones. 


11.  Zenith Bank 

As with other traditional banking platforms, the Zenith Bank USSD code can be used to carry out several transactions. It also has the added advantage of being able to grant quick loans to the bank’s customers without access to the internet.  

The Zenith bank loan USSD code is *966#. The bank’s USSD code can be used to apply for a salary advance loan. 


12.  Migo Loan 

Formerly known as Kwikcash, Migo loan is available not also in Nigeria, but also in Brazil and the United States.  

Interestingly, its loan code, *561# can be used to request a loan in all three countries.  

With the Migo loan code, borrowers can request a loan, pay back a loan, make inquiries, and access all their services. 


Things to note  

While there is always a seeming urgency before taking out a loan, it is important that borrowers be absolutely certain that the loan platform is authentic.  

Also, to maintain a good credit score, be sure that the need for the loans is genuine and that you already have a payback plan.  The fact that access to loans has been made easy is not a reason to go for it all the time.  

It is also important to note that non-payment or a delay in payment can affect your credit score therefore affecting your reputation. 





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