Getting access to quick cash in Nigeria is becoming easier thanks to licensed microfinance-backed loan apps. One of the leading names in this space is AidaCredit, which has positioned itself as a reliable option for Nigerians who need emergency funds without collateral.
If you have ever been stuck in a situation where you need money fast but don’t have time for the traditional banking process, AidaCredit provides a solution. In this article, I will explain in detail how to borrow money quickly on AidaCredit, the available loan limits, the interest rates you should expect, and useful tips to help you get approved faster.
Learn More About AidaCredit
AidaCredit is a digital loan app operated by Ishiagu Microfinance Bank Ltd, fully licensed and regulated by the Central Bank of Nigeria (CBN). Unlike many unlicensed apps, AidaCredit follows standard financial rules and offers its loans directly to verified bank accounts.
The app was created to provide collateral-free personal loans for Nigerians who may not have access to traditional banking credit. Over the years, it has built a strong user base, especially among young professionals, traders, and small business owners who value speed and convenience.
Loan Limits on AidaCredit
The amount you can borrow on AidaCredit depends on whether you are a new or returning customer, your repayment history, and your credit profile.
- First-time users: ₦4,000 – ₦10,000.
- Regular users with good repayment history: ₦50,000 – ₦500,000.
- High-trust, long-term users: Up to ₦1,000,000 or even ₦2,000,000 in some cases.
The system is designed to reward consistency. If you repay your first few loans on time, your loan limit will increase automatically.
AidaCredit Interest Rates Explained
When borrowing money, it’s important to understand how much you will repay. Here’s what AidaCredit offers:
- Monthly interest: About 4%.
- APR (Annual Percentage Rate): Between 24% and 260%, depending on your loan tenure.
- Tenure: From 91 days to 12 months.
- Late payment fees: 2% daily rollover charge after a one-day grace period.
For example:
- If you borrow ₦10,000 for 91 days, you may repay around ₦11,200 (including interest).
- If you delay repayment, additional daily charges will apply until you settle the loan.
Step-by-Step: How to Borrow Money on AidaCredit
Here is the exact process to get a loan on AidaCredit:
1. Download and Install the App
Go to the Google Play Store and search for “AidaCredit: Safe Online Loan”. Install the app and open it.
2. Register Your Account
Enter your Nigerian phone number (linked to BVN) and verify it with the OTP sent to you.
3. Complete Your Profile
Fill in your personal information, upload your ID (NIN, passport, or driver’s license), and link your bank account.
4. Choose Loan Amount and Tenure
On the app dashboard, select how much you want to borrow and how long you need to repay.
5. Submit Application
The system will check your credit score and details instantly.
6. Receive Disbursement
If approved, your loan will be sent directly to your linked bank account. You’ll also receive SMS confirmation.
Approval Tips to Get Money Fast
If you want your loan approved without delays, follow these practical tips:
- Use your BVN-linked phone number: This ensures smooth verification.
- Keep your profile accurate: Wrong names or mismatched bank details cause rejection.
- Start small: First-time borrowers should request smaller amounts to build trust.
- Repay on time: Early repayment unlocks higher limits and faster approvals in the future.
- Allow permissions: Grant access to SMS, contacts, and location, since AidaCredit uses these for credit scoring.
Recent Updates on AidaCredit (2025)
- System Upgrade: In August 2025, the app improved its approval engine, making disbursements faster.
- Recognition: Listed among CBN-approved microfinance-backed loan apps in July 2025.
- User Reviews: Many users praise its speed during emergencies, though some still complain about high interest when loans are stretched over longer tenures.
Frequently Asked Questions (FAQs)
1. How much can I borrow on AidaCredit as a first-time user?
Between ₦4,000 and ₦10,000.
2. What is the maximum loan limit?
Up to ₦1,000,000 (and in some cases ₦2,000,000) for long-term users with good repayment history.
3. How long does it take to receive the money?
Most approvals and disbursements happen within minutes.
4. What are the interest rates?
About 4% monthly, with APR ranging between 24% and 260%.
5. Can I borrow without BVN?
No, BVN is required for registration and verification.
6. What happens if I pay late?
You will be charged a 2% daily rollover fee until repayment is completed.
Conclusion
Borrowing money on AidaCredit is simple, fast, and reliable if you follow the right process. The app is designed for Nigerians who need urgent funds without going through long paperwork or collateral requirements.
The key to success is to start with small loans, repay on time, and gradually build your profile. This way, you can unlock higher limits and continue to enjoy the convenience AidaCredit provides.
If you are looking for a safe, regulated, and digital-first loan solution in Nigeria, AidaCredit remains one of the strongest options available in 2025.
