The typical process for obtaining a loan includes opening an account with a bank, visiting the bank, meeting with your account officer or the bank’s lending officer, filling out a loan application, and then, hopefully, waiting for your loan to be granted. That’s a lot of worries, especially given how simple it is to transmit a USSD code to your preferred loan platform to acquire loan details.
Now that there are so many codes, it might be simpler to obtain loans quickly. However, before taking out a loan facility, we firmly advise against rushing into loan decisions without first evaluating loan offers from several lenders.
We go through what the USSD platform is in this article and how to use it to get a rapid loan in Nigeria.
What Is a USSD Code?
USSD, or Unstructured Supplementary Service Data, is an abbreviation. It is sometimes referred to as fast code.
They are access codes for alternatives provided by your mobile telecommunications network operator, as their name suggests. Callback services, mobile money, content and information, as well as network setup services, are just a few of the many uses for USSD. In this instance, we take into account how USSD is used in banking.
What Is USSD Banking?
Through the use of short or rapid codes, USSD Banking enables you to do financial transactions from your phone. There is no need for an internet connection; all that is needed is a cellphone network. You could do nearly any type of financial transaction with USSD banking, from money transfers to airtime purchases. More crucially, you can apply for loans using USSD codes.
How to Use USSD Codes to Apply for Loans
The procedures for submitting a loan application using USSD are simple. Simply put, you must:
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• Be aware of the loan provider you are using.
• Obtain the working USSD code.
• Comply with all prerequisites
• Enter the code.
• Go after the hint
• Apply for a loan
Nigeria’s USSD Loans Code
You only need to enter the code into your phone and follow the on-screen instructions to submit a loan application via USSD. In Nigeria, some USSD codes for loans include:
| 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# |
Conditions for Obtaining Loans Through a USSD Code
The prerequisites are just as simple as the USSD loans. Naturally, in order to obtain most banks’ loans via USSD, you must have an account with them.
However, you do not require an account with other rapid loan providers. Along with that, you would also need to furnish the loan provider with your full name, bank verification number, account information, address, and any other facts they may require.