KiaKia is a mobile loan application that provides personal and business loans for shorter terms without requiring collateral.
The process is quick and straightforward, and applicants receive the results of their application within moments. 95 percent of borrowers report receiving their money within five minutes of loan approval.
KiaKia is the most popular peer-to-peer lending network available in Nigeria. Users can borrow or lend money through the platform, and the application process for the loan is completed online.
KiaKia loan requirements include being a resident in Nigeria, being over 21 years old, having a Bank Verification Number (BVN) and being an account holder in any of the major commercial banks in Nigeria, having proof of source of income, and providing a valid identification method. KiaKia loans can be obtained for up to N100,000 at best affordable rates.
The loan attracts interest rates from 5.6% to 24%, and the exact interest rate is stated in the loan application process.
The advantages of short-term financing through KiaKia include low interest, fast disbursement, and uncomplicated document requirements.
The disadvantages include limited loan amounts and large installment amounts. Currently, Kiakia does not have a USSD option, and applicants must meet the requirements to be eligible for a loan.
Kiakia is a legit and real app that lends money to Nigerians, and users can download the app and apply for a loan of 1000 naira and above.
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