Money is an important tool in life, whether you are looking at starting a new business, investing in an existing business, have an urgent need or “sapa” got a hold of you, lending companies have become an easy and acceptable means used by Nigerians to borrow money.
With the current inflation in the country it is no surprise how popular these loans apps have gotten, relieving Nigerians of the stress of unrealistic collaterals and long waits for approval. Although there are so many loan companies out there, Zedvance loan is popularly becoming one that stands out.
Despite its popularity, so many questions have risen in the minds of potential Zedvance loan app users like, How to apply for Zedvance loan? How to use Zedvance loan USSD code? What are the requirements to access Zedvance loan? and many more. If you seeks the answers to these questions then you have come to the right place. Follow us as we take you into the world of Zedvance loan and how you can easily borrow money it.
About Zedvance
Zedvance is a financing and digital lender company with its walk in office based in Lagos Nigeria. This company first broke into the consumer finance industry in 2014 and has quickly become a financial solution for most Nigerians by enabling access to credit for both individuals and businesses. Zedvance has been serving over 1million Nigerians using different self-service digital channels such as Zedvance USSD code, mobile app, web site, WhatsApp and Sales Agents.
As a company Zedvance offers up to NGN 5 million unsecured loans with a flexible payment period of up to 18months to users.
Types of Zedvance Loans
1. Zedvance Nano: This is an instant short term loan for small amounts, designed for moments of urgent financial needs. The application and distribution process of this loan only takes minuets and has a repayment term of 15 to 90days. Whether you are a salary earner or not the Zedvance Nano loan is accessible to you. The loan amount range from as low as NGN2,500 to a scale up of NGN100,000 based on your credit history.
2. Zedvance Payroll: This loan is targeted toward salary earners employed by either public or private organization. These loans range from a minimum of NGN50,000 to a maximum of NGN5,000,000 for private sector with a maximum tenor of 18months. For the public sector the minimum loan is NGN20,000 and a maximum loan of NGN3,000,000 for a maximum tenor of 24months. The repayment of this loan is gotten through salaray payments
3. Zedvance for Business: This loans is targeted toward SME’s and entrepreneurs seeking to take their businesses to the forefront of the market, although this loan is not currently available to the public.
Benefits of using Zedvance Loan USSD Code
The following are some of the benefits of using Zedvance loan USSD code;
1. Fast loan application process and disbursement: Using the Zedvance USSD code customers can easily apply for loans in no time and get disbursed in as little as 5mintues, making it a fast and convenient way to apply for a loan. This saves time and efforts compared to a traditional lending company.
2. Creates accessibility for individuals without access to traditional banking service: The USSD code can be accessed by anyone with a mobile phone, this takes the stress away from individuals who do not have the luxury of physically visiting a bank or a lending company. With as simple as dialing a number one can start the process of getting a Zedvance loan.
3. Ensures transparency: The say information is power and that is exactly what the Zedvance USSD code gives its users by not only providing the option to apply for a loan but to also read their terms and conditions, interest rates, and fees guarding their users with the necessary information needed to make an informed decision before applying for a loan.
4. No Collateral Required: One of the major issues borrowers face when it comes to applying for loans from traditional lenders is providing collateral. But with Zedvance loans collateral is not a requirement to secure a loan, this opens the door for more Nigerians to access loans.
Requirements for a Zedvance loan
Every loaning companies have their desired requirements that qualifies users for a loan and Zedvance is no exception. The following are some of the requirements to qualify for a Zedvance loan;
1. Age: This is an important factor to consider when applying for a Zedvance loan as persons under 18years of age will be declined. Also the maximum age of an individual who desires Zedvance loan should not be more than 55years old.
2. Identification: Zedvance loans require that a means of identification is provided by its user, these identification may include International Passport, Drivers License or National ID card. Nigerians can also use their Voter’s card as a means of identification
3. Stable Source of Income: Individuals seeking for a Zedvance loan must have a steady income flow to enable them pay back their loan with ease. This means the individual must have something doing that brings in money regularly to qualify for a loan.
4. Employment Details: For individuals who seek to access loans targeted toward salary earners, some employment documents must be provided to enable the loan provider verify employment information. such documents include employee ID and employment letter.
5. Bank Statements: A 6 months up to date salary statement of account is required to show the inflow of cash into the account of the borrower.
Other requirements includes;
- 1 passport photograph
- NUBAN Cheques or Direct Debit Mandate
- A guarantor may be required if you are a freelancer or unconfirmed employee
- Bank Verification Number (BVN)
- Utility bills
It’s important to note that these requires varies based on the type of loan an individual decides to get.
How to Apply for a Zedvance Loan Using the USSD Code
Zedvance USSD Code is a service that allows customers to perform various transactions on their mobile phones using Unstructured Supplementary Service Data (USSD) codes. USSD codes are short codes similar to a short message service that can be used to send text messages from a mobile phones to the servers to perform transactions. The following are the steps to follow when applying for a Zedvance loan using the USSD code;
- Dial *5858# on your mobile device using the number that is linked to your BVN
- Following the instructions select the option to apply for a loan
- Select the loan amount you want
- Select loan tenor
- Agree to terms and conditions after carefully reading it by clicking on accept
- Confirm disbursement account
- Wait to receive a notification confirming your loan application
Other methods to apply for Zedvance loan includes;
Zedvance web site
The Zedvance website is another easy way to apply for a loan, the web site is user friendly so you shouldn’t find any difficulty while applying. To apply for Zedvance loan on their platform, here are the following steps
- Do a prior research by visiting their websites, examine various loan options, their interest rates and repayments plan.
- Visit the loan portal when you are ready to apply.
- Register by filing out the form correctly, make sure all the required details are provided.
- Submit the required documents.
- Apply for a loan.
- Wait for notification of approval which will be sent through SMS or email.
- Receive funds.
Zedvance loan app
Moneypal is a retail lending app, owned and operated by Zedvance finance limited. The app is designed to provide new and existing users with a seamless digital lending experience. These are the steps to follow while using the Zedvance loan app
- Download the Moneypal mobile app by Zedvance on google play store or apple store.
- Launch the app and register following the registration process to sign up for a Zedvance loan account
- Once registration is complete you can log in to apply for a Zedvance loan anytime.
Through WhatsApp
This is another digital chancel customers can use to access the Zedvance loan, by chatting with Zee on WhatsApp via 09095017151.
Zedvance Loan Customer Care Number and Email
If you wish to contact Zedance loan using their customer care number and email, you can use the details below to reach them:
Email: customercare@zedvance.ng
Customer Care Number: 07001001000
Loan Exclusion List
This is a list of employees that Zedvance loans are most likely not going to lend to;
- Companies dealing in illegal activities
- Companies that pay based on commission to employees
- Unregistered company
- Companies undergoing investigation by any law enforcement body.
- Start-up companies, although there are exceptions
- Second-rate NGOs
With the current financial instability many Nigerians face today, Zedvance loan USSD Code service is a fast and convenient way to access hassle-free loans whenever you need them. One thing that stands out for me about this loaning company, is the various ways in which users can apply for a loan, this shows how committed they are to accessibility for all Nigerians. I mean taking charge of your financial situation can be as easy as one phone dial today.
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