Find ₦20000 Loan offers in Nigeria

Check which lenders are willing to provide you a ₦20000 Loan

Credit Nigeria customers

More than 300,000 users

Trusted by many
Naira cash stacks

Urgent ₦20000 Loan

When sourcing for a ₦20,000 personal loan, there are many options such as online lenders, microfinance banks, and even some traditional banks that offer these types of loans. However, when you need a loan urgently, online lenders are usually the fastest to disburse loans. However, the cost of the loan can also be higher. To find the best rates, use Credit Nigeria to find and compare loan offers you are eligible for.

We will review lenders you might want to consider for a ₦20,000 loan and provide you with information about what to consider when applying for a loan.

The Best ₦20000 Loans


Renmoney has been around for a while and has a good reputation among lenders. Renmoney doesn’t require collateral, paperwork or guarantors to get a loan, making the process fast and easy.

Page Financials

Page Financials is another online lender with a history. Page Financials promises disbursement within 3 hours for an urgent loan, with simple repayment terms.

Zitra Investments

Although Zitra Investments is the “new kid on the block”, the management team has acknowledgable experience in Finance. Zitra also offers instant cash loans with competitive rates.

How to get a ₦20000 Loan

  1. Research Lenders: Start by identifying potential lenders that would be willing to give you a loan.
  2. Apply Online: Most lenders have an online application process. Fill out the necessary details and submit any required documents.
  3. Review Offers: If approved, review the loan offers presented. Compare interest rates, tenure, and other terms. Credit Nigeria helps streamline the process from researching potential lenders to reviewing offers.
  4. Accept & Receive Funds: Once you’ve chosen a loan offer, accept it. The funds will typically be disbursed to your bank account within a short period.
Find ₦20000 Loan offers

Cost of a ₦20000 Loan

The expense associated with a ₦20,000 personal loan will fluctuate depending on the interest rate, the duration of the loan, and any extra charges imposed by the lending institution. For example, a ₦20,000 loan carrying a monthly interest rate of 5% over a period of 3 months would result in a total repayment sum of ₦23,000, not including any additional fees. It’s essential to be aware of these costs beforehand to guarantee that repayments are made on schedule.

₦20000 Loan Calculator

What are the pros & cons of a ₦20000 Loan?


  • Quick Access to Funds: Small loans like ₦20,000 are typically processed faster, providing immediate financial relief.
  • No Collateral: Many ₦20,000 loans are unsecured, meaning you don’t need to provide any assets as security.
  • Short Tenure: These loans often have a shorter repayment period, ensuring you’re not in debt for an extended time.


  • Higher Interest Rates: Smaller loans might come with higher interest rates compared to larger loan amounts.
  • Potential for Over-reliance: Easy access to such loans might lead to habitual borrowing, leading to potential financial strain.
  • Hidden Charges: Some lenders might have hidden fees or terms that can increase the cost of borrowing.

Frequently Asked Questions About ₦20000 Loan

Obtaining a ₦20,000 loan is relatively easier compared to larger loan amounts. Many online lenders, microfinance banks, and even some traditional banks offer small-scale loans like this. However, the ease of obtaining such a loan will depend on the borrower’s credit history, existing financial obligations, and the specific requirements of the lender.

To get a quick ₦20,000 loan, online lenders and loan apps are probably the best bet. However, if you also want to find the cheapest loan, use Credit Nigeria to find all the loans you are eligible for.

It’s still possible to get a ₦20000 loan in Nigeria even if you’re unemployed. Some lenders might consider other sources of income, such as a regular remittance, rental income, or profits from a small business. However, it’s essential to note that the interest rates might be higher, and the terms might be stricter for unemployed individuals.

How Credit Nigeria Works

Credit Nigeria is a modern online loan comparison platform that provides a safe and easy way to find loan offers you are eligible for, compare loan offers and select the loan offer to your liking.

After completing the loan comparison form, you will get a list of loan offers you are eligible for within seconds. 

It’s that fast, simple and all online.

Woman comparing loans