Loan Companies Asking for Online Banking Details in Nigeria

So many companies are asking for banking details in Nigeria, and the goal of these details is to enable them to check your eligibility to know if you are eligible for the loan you wish to obtain from the platform.

In this article, we will discuss some of the best companies that ask for banking details in Nigeria and some of the details they ask for. And finally, we will answer some of the most frequently asked questions.

List of Loan Companies Asking For Online Banking Details In Nigeria

Numerous loan companies are asking for online banking details, but in this article, we will discuss a few in detail.

  1. Renmoney
  2. Bank of Agriculture
  3. Baobab Microfinance bank
  4. Stanbic IBTC
  5. Lapo Microfinance Bank
  6. AB microfinance
  7. Wema Bank ALAT
  8. Loan spot
  9. Zedvance Loan Companies
  10. Payday loan from Access Bank


When you talk of one of the advanced loan companies in the country that offers large amounts of loans to business owners, one of the best choices is the renmoney loan platform.

Before obtaining a loan from this financial platform, your company has a strong economic history, and you must demonstrate consistent monthly earnings. This platform is a Fintech lending platform that works with a microfinance bank with its resident in Lagos and is managed by the central bank of Nigeria.

The minimum loan you can obtain from the platform is 100,000, while the minimum monthly interest loan is just 2.8%. This makes it one of the most sought-after loan platforms by business owners. Renmoney loan platform asks for online banking details such as

  • Name
  • Email
  • Statement of account
  • Creditworthiness
  • NIN
  • BVN

Read TooList of Loan Banks That Do Not Ask for BVN

All these will help the platform know if you are eligible for the loan you intend to obtain from the platform.

Bank Of Agriculture

If you’re into agriculture and need to obtain a loan from the bank to help you boost your agricultural produce, this is one of the best loan platforms that come to mind.

This loan platform is a government-sponsored loan that is available to only farmers, not only in agriculture but in livestock farming too. You can obtain up to 5 million naira loans from this platform, and the interest rate is between 7 to 21% interest rate.

One of the reasons why most people do not go for this loan is because you need collateral to apply for this loan, and among other things, you need;

  • A 3000 initial deposit is a must
  • A copy of your most recent utility bills
  • A properly filled-out application form
  • Three well-snapped and clear passport
  • Signature from your bank

Boab Microfinance Bank

If your business is a small to medium size business and you want to obtain a loan, the best choice is baobab microfinance bank, the minimum loan you can receive from this platform is 20,000, and the maximum loan amount you can obtain from this platform is 20 million.

The federal government approves this loan platform, and the borrower of this loan must be between the age of 22 to 58. Like most other banking platforms, this loan platform asks for your online banking details, and they must be provided before you can be eligible to apply for a loan on this platform.

Stanbic IBTC

Almost everyone in Nigeria is aware of Stanbic IBTC bank, and this loan platform is a subsidiary of the bank too. They offer pension management services, investment advisory, asset management, investor services, trustees, and life insurance industries.

Stanbic IBTC is one of the fastest-growing banks in Nigeria, it has branches in over 20 African countries, and they are expanding.

Big business owners know this platform as one of the best platforms that offer the required amount of loan you might need for your business.

Stanbic IBTC, like most other platforms, asks for your banking details, and they must be provided before your loan application on the platform will be approved

Lapo Microfinance Bank

Business owners know this bank as a microfinance bank that provides loans to small and medium-sized businesses and individuals.

The Lapo Microfinance Bank has gained popularity among Nigerians over the last few years, and this is because of the excellence of their services and fastness in checking and approval of loans. Just like most other banking platforms, you will be asked to provide some of your essential banking documents before your loan application is accepted.

Read Also:  FCMB Loan: How to Apply, Ussd Code and Requirements

Read TooTypes of Lapo Loans you Should Consider

Some of the documents you will need to provide include the following

  • A letter of identification
  • Two guarantors
  • Bank statement of account
  • Evidence of your creditworthiness to know if you are eligible for the loan you want to borrow from the platform.

Read TooHow to Apply for Lapo Agric Loan

Ab Microfinance Bank

If you’re an individual seeking a loan or a small to medium size business looking for a loan, one of the best platforms to obtain that loan is AB microfinance bank.

This bank is a foreign-owned foundation situated in Nigeria. Before you can be considered for this loan, you must be a proprietor of a business in a suitable country region, the minimum age requirement is 21 and above, and you must be a Nigerian.

Since its inception, this platform has offered many loans to individuals and business owners across the country; like other loan platforms, they will ask you to provide your online banking details before your loan application process is approved.

Wema Bank’s ALAT

This is one of the newest loan platforms in the country; this platform was developed by Wema bank to offer loans to qualified individuals and business owners. Before your loan can be approved, you must provide all the needed details, and like most the loan platform, we have mentioned you will be asked to provide your online banking details.

Having listed some of the best online loan platforms that ask for your banking details, we will end this article by answering some of the most frequently asked questions.

Loan spot

This is one of the best loan platforms in Nigeria, and it is well known for its fastness and efficiency in granting loans to successful applicants.

Just like most other loan platforms, you will be required to provide some of your banking details, and this is to enable the platform to check if you are eligible for the loan. Without those banking details, your loan application will not be accepted.

Zedvance Loan Companies

Zedvance is a licensed financial institution by  CBN to offer financial loan services in Nigeria. They give out immediate loans to salaried workers, self-employed people, SMEs, and entrepreneurs in Nigeria.

This loan platform requires some important banking details before they can approve your loan application process. Go through their website to know more.

Payday loan from Access Bank

When it comes to a loan platform that grants fast access to loans and approval, the best that comes to mind is this loan platform.

They offer loans to small and medium-sized businesses, the minimum amount of loan you can obtain from the platform is 20,000, and the maximum is 5 million. Like most other loan platforms, they require some of your banking details before they can give you the loan you applied for.

Frequently Asked Questions

Will all loan companies ask for online banking details?

Yes, all loan companies will ask for your online banking details before you can access a loan on the platform. These details enable them to verify if you can obtain a loan from the platform. If you are eligible, they will approve your loan, and if you are not, your loan will likely not be approved. Any loan platform not asking you for banking details will probably be a scam.

How do I stop loan apps from accessing my contacts?

There are numerous ways to prevent loan apps from accessing the contacts on your phone. To do this, follow these simple steps below

  • Go to your Settings on your Android or iOS device.
  • Navigate to the Apps Manager.
  • Click on Apps permission.
  • Select the loan app in question.
  • Now, deny or allow them access.

How do I know if I’m being scammed for a loan?

There are various ways to know if you are being scammed of a loan. We will list some of the multiple ways and take note of each of them;

  • The lender guaranteed approval.
  • The lender isn’t registered in your state.
  • The lender demands a prepaid card or other payment upfront.
  • The lender calls, write or knocks.
  • The lender has no physical address.
  • The lender pressures you to act immediately.
  • The lender is not transparent about its fees.
  • It sounds too good to be true.

What happens if I don’t pay my online loan?

Non-payment of loans equals lower credit scores, eventually disqualifying you from making any secured loans in the future. If your loans reach a default, expect to get really bad credit scores that will also disqualify you from any financial assistance when you most need it.


Numerous loan companies in Nigeria are asking for banking details. We have outlined the top 10 in this article, and we are sure it was worth the read. Feel free to share your thoughts in the comments section.