Advancement in technology came with plenty of possibilities that extend to the outlets which offer financial services. Quickteller has embraced the benefits of the said advancement and become a dominant figure in the financial service sector of Africa and indeed the world at large. For the uninitiated, the Quickteller platform affords one the opportunity to send and receive money from the comfort of their homes. More than that, you can pay bills, purchase airtime, and get a loan among other things through the Quickteller site. Nonetheless, you must know that every transaction performed cannot be recalled, unless it is a case of fraud.
To protect its users from fraudsters, the Quickteller platform makes use of a two-factor authentication software called Safetoken which generates a One-Time Password (OTP) whenever a transaction is made on the platform. Because of this, people have come to trust the platform just as it has come to trust its users by helping them get a loan. Unlike what you know about the tedious process of getting a loan, applying for a Quickteller loan is quite simple and straightforward.
What it Takes to Get a Quickteller Loan
Offering fast loans has become one of the finest services of Quickteller; this is so because it’s hassle-free, requires no paperwork and one would not be required to provide a guarantor or collateral to get the loan. The only criteria would be to have a robust transaction history as it will be accessed to evaluate your eligibility for the loan.
Step By Step Procedure on How to Apply For the Loan
- Step One – Sign Up for Quickteller
You can’t get a Quickteller loan if you are not a user. Given that, the first thing that must be done if you need to get a loan from the platform is to sign up for Quickteller. To do this, visit www.quickteller.com and click on “Sign Up” at the top of the right side of your screen. It will take you to a page where you will be required to fill in your first and last name, email address, mobile number, and what have you.
After providing the information required, you will get an OTP on your mobile device which you will use to activate your account as required on the Quickteller platform. Now that you are a registered user of Quickteller, you can sign in to your account to request the loan, but not before you add your bank details.
- Step Two: Navigate to Request Loan and Provide the Necessary Information
To apply for the loan, you will have to navigate to the “Request Loan” section on the Quickteller site and provide the needed information. To locate the “Request Loan” section, click on “More” located on the left side of your screen on the Quickteller site. It will bring out the “Request Loan” option, click on it. Alternatively, you can click here and it will take you directly to the “Request Loan” page.
Now that you are on the page, enter the amount you want to get as a loan, in addition to the account number wherein you’d like to receive the loan and the name of the bank. After that, you will have to choose the loan provider you prefer and accept the loan offer.
How to Get and Use the Quickteller Loan USSD Code
Quickteller has a provision for USSD codes for transactions. For instance, if you want to access all of its offerings on USSD, dial *723#. The USSD provision extends to getting a loan. To access Quickteller loans from USSD services, dial *723*6#.
After that, select “Get Loan” and follow the instructions provided to get the loan. Below are other shortcodes for Quickteller transactions:
- For self-recharge – *723*[Amount]#
- To recharge other people – *723*[MobileNumber]*[Amount]#”
- For selecting a new PIN – *723*3#
- For changing eCash PIN – *723*4#
- To check your account balance – *723*00#
- To transfer funds – *723*[AccountNumber]*[Amount]#
- For paying bills – *723*[PaymentCode]*[Amount]#
- To generate OTP – *723*0#
- To opt-out of using Quickteller USSD service – *723*0000#
Getting Loan Through the Quickteller Mobile App
- Step 1 – Locate and tap on “Loan”; you can do this through “Quick Services” or “Menu Sidebar”.
- Step 2 – Select “Request Loan”, the loan provider you want, and accept their offer.
- Step 3 – Select the card where the money will be credited.
Interest Rate and the Maximum Amount you Can Apply for?
The interest rate of Quickteller loans depends on the loan provider you picked while applying for the loan but on a general note, loans received from the Quickteller platform come with an interest rate estimated to range from 3 to 15 percent over a repayment period that lasts between 10 days to three months.
The maximum amount you can apply for and get depends on what the loan providers you picked regard as your “loan eligibility”. But we can confirm that Nigerian users can borrow as much as NGN50,000 through the Quickteller Loan platform.
Will Quickteller Approve The Loan Instantly?
Apart from the fact that it is easy to apply for a Quickteller loan, and that one needs no collateral for it, another thing that has endeared people to getting loans through Quickteller is that it takes only a few minutes to get the money.
If one meets the requirements for the loan, the request will surely be approved and the money remitted into the account specified.
Quickteller Loan Repayment and Penalties for Defaulters
To repay your loan, follow the steps below:
- Step 1 – Visit www.quickteller.com/ils or click here
- Step 2 – Select the loan provider you got the loan from
- Step 3 – Provide the email and the mobile number you used when you applied for the loan
- Step 4 – Confirm the amount to pay
- Step 5 – Fill in your card details and complete the repayment.
Alternatively, you can repay through the ATM. Follow the steps below:
- Step 1 – Insert your card and select “Quickteller”
- Step 2 – Select “Pay Bills” and then select “Others”
- Step 3 – Enter Biller/Payment Code and then the mobile number you used when you applied for the loan
- Step 4 – Confirm payment
While there are no spelled out penalties for defaulters, defaulting a Quickteller loan comes with the consequences one may anticipate for defaulting any loan gotten from any platform. First and foremost, you will have zero creditworthiness. What this means is that you can’t get a loan through the platform again and indeed through any other platform.