Borrow Instantly: Short Code to borrow

A Comprehensive Guide to Loan Short Codes in Nigeria

Accessing quick, short-term loans has been made easy in Nigeria through dedicated USSD short codes by various banks, mobile networks, fintech lenders and other financial providers.

Loans can serve as useful financing to cover pressing needs before your next paycheck arrives. But they also come at a cost with interest rates, fees and required repayment as per terms and conditions.

This guide covers the major loan short codes available in Nigeria and provides tips on using them responsibly:

Short Code to borrow

Overview of Loan Short Codes

Loan short codes allow you to directly request and access loan amounts completely via your mobile phone using Unstructured Supplementary Service Data (USSD) technology.

Here’s a quick overview:

  • USSD – This allows communication between you and your mobile network provider. It is used to access services using codes entered directly on the phone’s dial pad.
  • Short Codes – These are special 4-7 digit numbers assigned to access specific mobile services, like the loan codes below.
  • How it Works – Simply dial the loan short code on your phone, follow the menu prompts to input details, then receive the loan amount directly into your bank account if approved.
  • Convenience – It provides quick access to emergency funds without time consuming applications or physical documents.
  • Fast Approval – Loan amounts can be approved and disbursed in minutes or hours once eligibility criteria is met.
  • Repayment – The loan amount plus interest and fees needs to be repaid as per terms. This is done automatically by debiting your account.

Some key benefits are quick financing, convenience, minimal paperwork, and no need to visit physical branches. But consider the costs too.

Now let’s look at the specific short codes.

Short Codes for Bank Loans

Many major Nigerian banks offer loan short codes within their mobile banking services. Here are some top examples:

Wema Bank – _945_65#

Wema Bank provides quick loans up to N500,000 using their ALAT digital banking platform accessible via 94565#.

  • USSD code: _945_65#
  • Loan amount: Up to N500,000
  • Interest rate: 9% flat per annum
  • Repayment: Within 30 days

To qualify, you need a Wema Bank account with regular activity and sufficient balance. This account will be debited for repayment.

UBA – _919_28#

UBA offers pre-approved customers amounts between N5,000 to N500,000 through their Quickbucks service on 91928#.

  • USSD code: _919_28#
  • Loan amount: N5,000 to N500,000
  • Interest rate: 5% per month
  • Repayment: Within 30 days

You need an active UBA account and sufficient account activity to qualify for Quickbucks loans.

Access Bank – _901_11#

Access Bank provides Access Advance, an instant lending service accessible via 90111#.

  • USSD code: _901_11#
  • Loan amount: Up to N1 million
  • Interest rate: 1.16% per month
  • Repayment: Within 12 months

Eligibility requires an Access Bank account with regular income flows and good banking history. Employees can also apply under salary advance.

FirstBank – _894_11#

FirstBank offers Quick Credit loans of up to N300,000 by dialing 89411# within its FirstMobile platform.

  • USSD code: _894_11#
  • Loan amount: Up to N300,000
  • Interest rate: 1.5% per month
  • Repayment: Within 30 days

You need a FirstBank account with sufficient activity history and regular income to access Quick Credit.

GTBank – _737_8*2#

GTBank provides Quick Credit on its Habari platform through the short code 73782#.

  • USSD code: _737_8*2#
  • Loan amount: Up to N5 million
  • Interest rate: 1.33% per month
  • Repayment: Within 12 months

Quick Credit offers both personal and business loans for active GTBank customers based on account profile.

Zenith Bank – _966_6#

Zenith Bank offers quick unsecured loans on its Zenith *966# platform by dialing 9666#.

  • USSD code: _966_6#
  • Loan amount: Up to N1 million
  • Interest rate: 1.15% per month
  • Repayment: Within 6 months

You need a Zenith Bank account with frequent paycheck deposits and adequate account activity.

These major banks provide quick access to emergency funds using short codes for already banked customers. Follow their prompts to check eligibility and access loan amounts within minutes.

Short Codes for Mobile Network Loans

Apart from banks, mobile networks in Nigeria also offer loan short codes by partnering with lending companies. Examples:

MTN XtraCash – _303_4#

MTN provides XtraCash loans by dialing 6064# powered by Carbon.

  • USSD code: _303_4#
  • Loan amount: N1,000 to N500,000
  • Interest rate: 6-30% p.a
  • Repayment: 1-12 months

Any MTN subscriber with sufficient airtime loads and repayment capacity can borrow. No account required.

9mobile Quick Credit – _565_5#

9mobile gives access to Quick Credit loans via network partner Sokoloan by dialling 5655#.

  • USSD code: _565_5#
  • Loan amount: N1,000 to N500,000
  • Interest rate: 5-30% flat rate
  • Repayment: 61 days max

Open to all 9mobile users with sufficient airtime usage history and repayment ability.

Airtel SmartCash – *440#

Airtel offers SmartCash loans through partner Branch by dialling *440#

  • USSD code: *440#
  • Loan amount: N1,500 to N50,000
  • Interest rate: 10-15% flat rate
  • Repayment: 90 days max

Any Airtel subscriber meeting activity criteria and credit checks can borrow SmartCash loans.

These allow mobile subscribers easy access to short-term financing with flexible limits and repayment plans.

Short Codes for Loan Apps and Fintechs

In addition to banks and networks, fintech loan providers also offer quick loan short codes such as:

Carbon – *1303#

Carbon provides access to their digital loans by dialling *1303# on any network.

  • USSD code: *1303#
  • Loan amount: N1,000 to N1 million
  • Interest rate: 2-6% per month
  • Repayment: 1-12 months

Requires downloading the Carbon app and passing credit assessment checks for approval.

QuickCheck – *561#

QuickCheck loans are available by simply dialling *561# after signup.

  • USSD code: *561#
  • Loan amount: N1,000 to N500,000
  • Interest rate: 10-25% flat rate
  • Repayment: 7-180 days

QuickCheck uses phone/social media details for alternative credit scoring before approving loans.

Aella Credit – *357#

Aella Credit offers loans via *357# to customers through their app.

  • USSD code: *357#
  • Loan amount: N1,500 to N500,000
  • Interest rate: 1.5-2.5% daily
  • Repayment: 7-30 days

Requires Aella app signup and uses income, expenses and behavioral data for custom lending.

FairMoney – *322#

FairMoney provides access to small short-term loans by dialing *322# after signup verification.

  • USSD code: *322#
  • Loan amount: N1,500 to N250,000
  • Interest rate: 10-25% of loan amount
  • Repayment: 4-12 weeks

Needs signup on their app and uses alternative credit scoring based on mobile and social data patterns.

These new digital lenders cater to the unbanked and underserved demographic for quick emergency loans with minimal eligibility barriers. But repayment discipline is still necessary.

Tips for Using Loan Short Codes Responsibly

While loan short codes provide easy access to urgently needed funds, here are some tips for borrowing responsibly:

  • Only borrow what you genuinely need and can repay comfortably. Avoid getting trapped in debt.
  • Compare interest rates and charges across providers. The cheapest option may not always be the best when factoring repayment period, additional fees etc.
  • Read terms and conditions carefully to have full clarity on applicable interest, processing fees, late fees, repayment schedule, etc. before taking the loan.
  • Have a realistic plan to repay on time. Missing repayments can incur penalties and added costs. Repayment discipline is key.
  • Limit reliance on loans for day-to-day expenses. Consider cost-cutting or supplemental income instead.
  • Discuss with family/friends and explore other options before taking a loan.
  • Avoid borrowing from multiple providers as this makes repayment tracking difficult. Stick to one known, trusted source.
  • Monitor your credit score and maintain a good profile for better future access to loans when unavoidable.
  • Report any unauthorized deductions or discrepancies experienced to your bank/lender immediately.
  • Do not share OTPs or loan approval details with third-parties acting as agents or middlemen.

Exercising caution and financial prudence ensures you avoid being trapped in debt. Analyze your real need for a loan before simply accessing quick funds out of convenience.

FAQs on Loan Short Codes

Here are some common questions about loan short codes answered:

Are there any charges for using loan short codes?

The short codes are generally free to use. However, you pay the applicable interest, fees and charges associated with the loan amount borrowed as per the lender.

Can I access loan short codes if my phone line is barred?

No, you need an active phone line with dialing access. Barred or disconnected lines prohibit accessing USSD short codes.

What if my loan application via a short code gets declined?

It means you did not meet the lender’s criteria, likely due to insufficient account activity, low credit score or lack of repayment history. Try another provider or improve your credit profile.

How soon after approval is the loan amount disbursed to my account?

Disbursement can happen within a few minutes for some lenders up to a maximum of 24 hours for the account confirmation and transfer process to complete.

Can I borrow multiple loans from different providers using short codes?

It is possible but not advisable. Have loans from too many lenders makes repayment tracking and management difficult. Consolidate with one lender.

Are these short-term loans reported to credit bureaus?

Yes, your repayment history on loans accessed via short codes is monitored by credit bureaus like CRC Credit Bureau. So make sure to repay on time.

Can I access short code loans if I don’t have a bank account?

Some mobile network and fintech loans cater to the unbanked. But having a bank account makes approval quicker and disbursal faster.


Loan short codes provide speed and convenience when urgently needing some quick financing before your next paycheck.

Major banks, mobile networks and fintech lenders offer pre-approved customers access to funds within minutes to their bank account using easy USSD codes.

However, the high interest rates mean short-term loans are best only used sparingly for real emergencies with a concrete repayment plan. Avoid becoming over-reliant on endless borrowing as costs add up quickly.

Compare options to pick a loan provider aligning with your requirements and repayment ability. Read terms carefully and borrow only what you genuinely require and can comfortably repay.

Responsible usage of loan short codes provides relief from temporary money crunches. But approach such quick financing judiciously keeping your long-term financial health and credit score in mind.


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