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KiaKia Loan: Get Collateral Free Loan Quickly through App – up to N200,000

Let’s talk about the KiaKia Loan Application. Who is KiaKia? What are the steps to getting a Quick Loan without Collateral and how does the process work? Is the Kiakia loan application still available?

Personal and business loans with shorter terms are offered by the KiaKia mobile loan app.

A low-requirement loan can be obtained online, and you won’t need to provide any collateral. Within a matter of seconds, you will receive the results of your application, and 95% of borrowers report receiving their funds within five minutes of the loan being approved.


What is Kiakia

KiaKia is the most popular and greatest peer-to-peer lending network available to residents of Nigeria. Users can borrow or lend money through the KiaKia platform.

The application for a Kiakia loan can be completed online, which makes the process much more straightforward and expedient. A loan can be obtained in a short amount of time even if you don’t put up any collateral.

The application for the loan has the advantages of being simple and quick, and it does not require any collateral.

The Android app known as Kiakia gives users the opportunity to make financial gains by contributing to a variety of loans and businesses.

It is feasible to split the earnings of companies in particular industries. You have the choice to determine your potential income in exact detail. To ensure that partners can promptly repay all monies, Kiakia carefully selects them.

It is essential to emphasize the fact that Nigeria possesses access to the platform for investing. The services are available for use by both non-commercial individuals and businesses. In addition to the option to lend money, users also have the ability to apply for loans. There are a number of credit plans available, each of which is comparable to L-Pesa.



KiaKia Loan Requirements

You need to provide the following documents and meet the requirements to qualify for a KiaKia loan:

  • Applicants must be resident in Nigeria.
  • The age of the applicant should be over 21 years old.
  • Applicants must have a Bank Verification Number (BVN) and be an account holder in any of the major commercial banks in Nigeria.
  • Applicants should have proof of source of income. (Working in public/private sectors or run your own business)
  • Applicants must provide a valid identification method (job ID for job applicants and government issued ID for self-employed).
  • Applicants should provide proof of income (SMS or email screenshot of monthly income notification or electronic bank statement (in PDF format)) for the last 6 months.
  • Alternatively, applicants may authorize Kiakia to view their bank transactions by linking their bank account to the Mr. Kay software for the sole purpose of obtaining bank transaction details

The wiser you are in using online loans, the more opportunities for you to get a higher loan limit and a more profitable financing scheme.



How to Apply for KiaKia Loan

Follow the steps below to apply for KiaKia loan:

  1. Visit the website and create an account with your accurate details
  2. Start an application chat on the site
  3. Upload a valid means of identification
  4. Enter your desired loan amount
  5. Choose the loan duration
  6. Upload a screenshot of your last 3 salary or business income alerts
  7. Accept the loan terms and conditions if your application is approved
  8. Authenticate your bank account
  9. Lastly, get credited

How much can I get a KiaKia loan?

  • KiaKia loans start from N10,000 up to N200,000.
  • Borrowing limit increases with timely payments.
  • Maximum amount is based on your creditworthiness.
  • Repayment period ranges from 7 to 30 days.
  • Interest rates vary based on the amount and duration of loan.

What is the KiaKia loan interest rate?

  • KiaKia loan interest rates range from 5.6% to 24%.
  • The app’s speed allows for quick loan processing.
  • Interest rates are stated in the loan application process.
  • Borrowers can choose to accept or reject the interest rate.
  • Interest rates are competitive with other loan providers.
  • KiaKia charges a one-time processing fee of 5% on each loan.
  • The interest rate and processing fee are fixed and do not change during the loan term.
  • The loan duration can range from 7 to 30 days depending on the loan amount and the borrower’s credit score.
  • KiaKia uses a proprietary credit scoring algorithm to assess borrowers’ creditworthiness and determine their interest rate.
  • Borrowers can make repayments using bank transfers, debit cards, or USSD codes.
  • Late repayments attract penalty fees and can negatively affect the borrower’s credit score.
  • KiaKia offers a referral program where users can earn rewards for referring new borrowers to the platform.

Kiakia Loan Website:




Advantages and Disadvantages of KiaKia Loan Short-Term Financing

Advantages of Short-Term Financing

  • Lower interest rates due to the short tenor of the loan.
  • Faster disbursement of funds compared to other loan types.
  • Simple and easy application process with few requirements.
  • Short-term loans can help improve credit scores.
  • Provides financial flexibility and can be a useful cash flow tool.
  • Offers a manageable and predictable payment schedule.
  • Can be a viable option for emergencies and unexpected expenses.
  • Short-term loans allow for faster debt payoff compared to long-term loans.
  • Limited liability and lower financial risk.
  • Generally, short-term loans have lower overall costs compared to long-term loans.

Disadvantages of KiaKia Loan Short Term Financing

In addition to the advantages, short-term financing also has disadvantages. The following are short-term financing shortfalls:

  • Limited amount of loan can be borrowed due to the short term.
  • Interest rates can be higher for certain borrowers.
  • Frequent borrowing can lead to debt trap.
  • Late payments can lead to penalties and damage to credit score.
  • Short-term financing may not be suitable for long-term financial goals.
  • Limited repayment flexibility due to short repayment period.
  • It may not be a viable option for businesses with irregular cash flow.
  • Can be difficult to get approved for borrowers with poor credit.

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