Getting quick, low interest, collateral-free loans in Nigeria is not a breeze. Getting loans is in itself, perhaps a full-time job. There are requirements to be met, forms to fill out, and series of cross-checks because to be frank, no one wants to be in a situation where they lend money out and don’t get paid back. That’s why it is so tedious for security.
It’s not always so tricky, though.
In this article, we shall consider how to get loans from a special type of loan provider. Here is the low-down on Zedvance.
There is a massive list of loan providers these days, and where it’s naturally difficult to be distinct because most claim to offer the same thing, Zedvance stands out. Zedvance is an outfit that provides excellent loan services without collateral or with low interest.
Pros and cons
There is nothing devoid of advantages and disadvantages. The simple rule is if it has an effect, it most definitely has its side effects. Zedvance is not excluded from this rule. Here are the pros and cons:
- The loans can be of high capacity. Meaning you could get a very substantial amount from them. It would take a lot to get a high amount of loan from any other credit facility, but with Zedvance, it’s much more manageable. Almost natural.
- They boast of a quick loan approval process, faster than the usual. Which means you can get your loan practically as soon as you need it.
- Zedvance operations nationwide are limited. It only operates in Lagos presently, and so that means any applicants and their applications from outside the state are as good as void.
- There is too much paperwork involved. It requires a hefty amount of paperwork to fill out and completed in the application process, and at some point, it can get frustrating.
- It requires proof of employment and quite a lot of it too if you’re self-employed or a freelancer that might prove challenging to present.
How much can you borrow from Zedvance?
Zedvance loans allow you to borrow up to N5 million.
What are the interest rates for Zedvance?
Zedvance loans attract interest rates of about 12 per cent to 45 per cent.
Are there any additional fees for Zedvance?
There are no additional fees.
What do you need to take up a Zedvance loan?
The following are documents needed for a Zedvance loan application:
- Means of identity; passport, national identity card, driver’s license
- The Request of Account statement form; which you are to fill and taken to your bank for confirmation by the loan officer
- Your Employee Identity Card; to prove your employment status
- A Direct Debit Mandate
- Your Tax Identification Number or pension statement and letter of employment
- A passport photograph clearly showing your face.
- For freelancers or contract term employees, for security, you would need to provide guarantors who are permanent staff in your workplace.
How fast are funds released?
Zedvance boasts of quick approval processes, and once they approve the loan, you get the loan in minutes.
What are the repayment terms for Zedvance loans?
Zedvance loans are repayable for periods of up to 18 months.
Working-class? Need a quick loan that’s got a substantial amount? Then it would be great if you considered applying for and obtaining a Zedvance loan.