When you need extra money for a major expense, one of the first options you may consider is a personal loan in Nigeria. But knowing you need one is different from knowing how to get one, especially if you’re applying for the first time.

Where do you start? What information do you need? How does the process work, and what happens after you submit your application?

Today, many lenders let you complete the process online, so you can apply without visiting a branch or dealing with piles of paperwork. For example, if you’re applying for a personal loan in Nigeria with Zedvance, you can complete the process through the Zedvance App.

How to Apply for a Personal Loan in Nigeria with Zedvance

Step 1: Download the Zedvance App

You can manage your application digitally, so there’s no need to start the process by visiting a physical branch. Zedvance confirms that customers can submit their loan applications online. Once you’ve downloaded the app on Appstore or Playstore, open it and begin the registration process.

Using the app gives you access to your Zedvance account and available financial services in one place. It also allows you to complete your loan application digitally rather than handling the entire process in person.

Step 2: Sign up

If you’re new to Zedvance, you’ll need to create an account before you can proceed. Follow the registration prompts in the app and provide the information requested.

At this stage, make sure the information you provide is accurate. Your personal information may be used during the verification process, so avoid entering details that are incorrect or difficult to verify.

Pay particular attention to details such as:

• Your full name
• Phone number
• Email address

Step 3: Complete Your Account Setup and Verification

Before applying for a personal loan, you may need to complete the relevant account and identity verification requirements.

This is an important part of the process because lenders need to establish who you are and assess the information associated with your application. Depending on your account and applicable requirements, you may need information such as your:

• BVN
• Government-issued identification
• Home address

Make sure the information you provide is accurate and matches your official records.

Step 4: Go to the Loan Section

Once you’re logged into the Zedvance App, head to the app’s home page.

From there, locate the Loan section at the bottom of the home page. This is where you’ll find the loan options to start your loan application. Once you’ve selected Loan, you’re ready to start the application.

Step 5: Click “Access Cash”

After selecting the Loan option, click “Access cash.” This takes you into the loan application process. From here, the app will guide you through the information required to submit your application.

Step 6: Complete Your Personal Loan Application

The information requested can vary depending on your profile and the specific loan product available to you. When completing the application, provide accurate information about your personal and financial circumstances.

You may need to provide details relating to:

• Your employment
• Your salary or income
• Your bank account statement
• The amount you want to borrow

Don’t rush through this stage. If you enter an incorrect information, you may need to provide clarification or additional documentation later. The information you provide helps the lender assess your application, so accuracy matters.

Step 7: Review Your Application

Before submitting your application, take a moment to review everything you’ve entered. This may seem like a small step, but it’s one of the easiest ways to catch errors before your application is assessed. If everything is correct, proceed with your application.

Step 8: Submit Your Application

Once you’ve completed the required sections and reviewed your information, submit your application. Your application will then go through the applicable assessment and verification process.

At this point, you may simply need to wait for the outcome or provide additional information if requested. Zedvance currently states that loan approval can take up to 24 hours after documentation. The actual processing time can depend on whether all the required information and documentation have been provided and whether additional verification is needed.

Step 9: Wait for Your Loan Application to Be Assessed

This may include reviewing the information you’ve provided and completing the necessary verification checks. If additional information is required, you’ll need to provide it before the application can be completed. This is why providing accurate and complete information from the beginning can make the process smoother.

Step 10: Receive Your Funds

Once you’ve accepted the offer and completed any outstanding requirements, your approved funds can be disbursed according to the applicable process.

At this point, you’ve completed the application journey.

But there’s still one important part of the process: repayment.

What Can Delay Your Application?

If you want your application to move smoothly, avoid some of the common issues that can slow the process down.

• Incomplete information

Leaving required fields or documents incomplete can prevent the lender from finishing the assessment.

• Incorrect details

Mistakes in your name, employment information, salary or other details may require additional verification.

• Unavailable documents

If you are asked to provide supporting documentation but don’t have it available, your application may take longer to complete.

• Verification issues

The information you provide may need to be verified before your application can be approved.

• Not responding to requests

If a lender requests additional information and you don’t provide it, the application may remain incomplete. The simplest way to reduce avoidable delays is to provide accurate information and respond promptly to any requests during the process.

Applying for a personal loan becomes much easier when you know what to expect at every stage. And once you’re approved, don’t focus only on getting the funds. Take the time to understand the repayment terms and make sure you’re comfortable with the commitment before accepting the offer.