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9 Tips to Compare Loans in Nigeria

Compare Loans: If you’re looking for a loan our loan comparison service can provide a free.

Impartial comparison of both personal and secured loans.

We search through loans from a range of different lenders, so it’s quick and easy to find a great deal.

Compare Loans

Compare Loans: http://paydaymoneyloans.co.za

Compare Loans

1. Applying for a loan

Before you start, you need to decide how much you want to borrow.

With this, you can apply for personal loans up to #35,000 and secured loans up to #100,000.

If you are applying for a secured loan you will also need to know:

  • the current value of your property
  • the amount still outstanding on your mortgage
  • the total amount of any other debts
  • your annual salary
  • details of previous credit problems relating to any of the applicants e.g. arrears or County Court Judgments

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Compare Loans

2.Choose a loan from our top deals tables

To compare loans quickly, use the personal loan and secured loan tables on the loans homepage.

Just use the sliders at the top to select how much you want to borrow.

And for how long and we’ll show you a table of our top deals – pick the loan that’s right for you and click ‘apply’.

You can also use our loans calculator to find the perfect loan for the amount you want to borrow and repayment period.

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Compare Loans

You’ll then be taken to the loan provider’s page where you can find more information and enter your details to apply.

The APR on a loan can vary depending on how much you want to borrow.

And how long the loan is for – the shorter the loan term (the amount of time allocated to repay the loan).

The more money you save on interest.

Always be sure that you can afford the monthly repayments.

For loans intended to pay off other debts such as credit cards.

Remember you won’t have to pay the interest on those debts anymore, so this can come off your budget.

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3.Compare loans and pick one

Our calculator works out which loans which loans are on offer.

The typical Annual Percentage Rate (APR).

The monthly repayments and the total amount you will pay back.

If applicable, we will show you both personal and secured loans.

You can use the tabs at the top of the results table to choose.

Whether you see both kinds of loans or one in particular.

Loans are ordered by cost – so the lowest monthly repayment comes first.

You can choose to sort by other criteria, including APR or total amount repayable.

No loans that match your specific requirements?

You can go back and adjust the slider to see other loans available.

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Compare Loans

4. Secured loans comparison

For a secured loan, you’ll be taken to a form which will ask you for a few details.

Including your name, address, email and phone number.

Before redirecting you to the loan provider’s application page.

If you are a homeowner you will be asked how much your property is worth.

How much you have outstanding on your mortgage, how much debt you have.

Hour employment status and your annual income so that we can give you the most relevant results.

Any personal details you give us are protected by encryption software and sent securely to prevent fraud.

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Compare Loans

5. Complete your application with your chosen lender

Your chosen lender will need additional information about your finances.

Employment status and your partner’s situation.

They will then run a credit check.

What can you expect after you’ve applied for your loan online?

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Here are a few common questions:

6. How long will it take for the lender to confirm that my application has been successful?

At the longest they should be in touch within a week or so, once they’ve done a credit check.

However many lenders will get back to you within a few minutes, sometimes even transferring funds on the same day.

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7. I’ve been turned down by a loan lender – what can I do?

You may not be eligible for a particular loan.

But sometimes the lender will offer an alternative with a higher interest rate.

To see if you can find a personal loan with another lender, do another comparison.

Your credit rating is a key factor in whether or not you are accepted for a loan.

Check your credit rating online now.

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8. I’ve noticed that my personal loan is being referred to as an unsecured loan – why?

They are one and the same.

Both personal loan and unsecured loan refer to a loan that is not secured against any property (home or car).

A personal loan is given on the basis of your credit rating.

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9. Am I allowed to repay the full amount before the end of the loan term?

Yes, although some lenders will charge you.

Read the small print and look out for the terms.


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