Borrow Money Online in Nigeria

Borrow Money Online in Nigeria

If you do not qualify for a conventional bank loan, you can easily borrow money online in Nigeria up to 5million naira if you meet the requirements.

Microfinance banks are set up to meet the needs of major business owners and the unbanked. With a little or no collateral, less than two guarantors and very little paperwork, you should be able to get a loan.

The reason for your loan can be for personal or business purposes. The amount you qualify for and the loan term is dependent on what documents, collateral and purposes you present.

To be awarded any loan, the microfinance bank will have to evaluate you and determine if you will be able to repay your loan.

Are you credit worthy ?

Your creditworthiness is determined by several factors including:

  • your repayment history for any previous loan
  • If you have another existing loan with another bank or lending company
  • Your income compared to the loan amount and repayment duration
  • Your guarantors capability of taking responsibility of your loan
  • Your creditworthiness is important because it will determine whether you get the loan you applied for.

But that’s not all.

The more creditworthy you are, the better it is for you because your loan application is approved faster compared to a poor creditworthy person.


Ways to Borrow Money Online in Nigeria:

  • IPPIS Loan
  • Oracle Loan
  • Private Sector Loan
  • Business Loan


1. IPPIS Loan

If you are a federal government worker in Nigeria, it is most likely your salary is paid to you through the IPPIS system. IPPIS Stands for Integrated Payroll and Personnel Information System.

It is a project initiated by the Federal Government of Nigeria (FGN) to improve the effectiveness and efficiency of payroll administration for its Ministries, Departments and Agencies (MDAs).

If you have a verified IPPIS number and have begun to collect your salary through IPPIS, then you can proceed to borrow money online in Nigeria.


2. Oracle Loan

The Lagos state government also has a  payment system like the IPPIS system for their workers called ORACLE. 

Oracle number is given to all civil servants in Lagos state government. It is used to pay all the staff salaries within the government. 

With the Oracle number you can borrow money online in Nigeria and get approved quickly.


3. Private Sector Loan

Getting approved for a loan as a Private sector worker needs some extra layer of security. Unlike government jobs, private jobs are not as secure.

However, things can be quite different if you have been in the company for a long time and you hold a big role.

In some cases, there may be a need to liaise with your employer to discuss the repayment of your loan, before your loan can be approved.

But if you provide a suitable guarantor, you can borrow money online in Nigeria and get approved.


4. Business Loan

A business owner who doesn’t earn a salary can still borrow money online in Nigeria and get approved.

However, the requirements are different. The place of business and income flow of the business needs to be verified. 

Collateral and Guarantor may be required in some cases, and a direct debit mandate on their business account may be required as well.

If all these requirements are met, you can proceed to apply.


Requirements to Borrow Money Online in Nigeria

  • ORACLE Number or IPPIS Number
  • Salary Pay slip
  • Bank statement of account showing his/her net pay.
  • Employment / Confirmation / Deployment Letter is required
  • Bank Verification Number
  • Valid National ID card
  • Work ID card


Borrow Money Online in Nigeria from GTI Microfinance Bank

If you fulfil any of these requirements and have the relevant documents, our internal credit officers will review your application within 24 hours.

If your loan is approved, it will be credited to your account immediately. If it is not, then one of our internal credit officers will call you to rectify the problem.

Please note that Repayments are made directly as deductions from your company salary account on the agreed payment date(s).


You can borrow money online in Nigeria application, or call 07081051231.