Zedvance Loans: 2023 Review

Zedvance Nigeria

Zedvance loan at a glance

Zedvance loan packages provide financial solutions for a wide range of Nigerians; non-salary earners, petty traders, salary earners in private and public sectors, etc. Even with this many consumers already covered, Zedvance finance is still looking to expand its customer base to small and medium enterprises and entrepreneurs who want to expand their businesses in Nigeria with loan packages that are “coming soon”.

Some advantages of Zedvance loan packages are:

  • Quick disbursements times
  • Flexible loan packages that can service a wide range of individuals across many sectors
  • Nano loans as low as ₦2,500

Some drawbacks are:

  • Complicated loan application processes
  • Office only currently available in Lagos
  • Too much information and steps are needed to successfully apply for a loan

Do I qualify for a Zedvance loan?

There are three categories of Zedvance finance loan packages with each having its specific requirements:

  • Zedvance Nano ( micro-loans for petty traders)
  • Zedvance Payroll (a payday loan kind of scheme for salary earners)
  • Zedvance for business (loan scheme for SMEs and entrepreneurs)

To qualify for a Zedvance Nano loan, you will need the following:

  • A government-approved identification card (driver’s license or National Identification Number)
  • Bank Debit card

Zedvance Payroll loans are further divided into two categories:

  • Private sector loans
  • Public sector loan

To qualify private sector Zedvance payroll application, you must have:

  • Utility bills not more than three months old
  • Valid means of identification (Voter’s card, National Identification card. International passport, or driver’s license)
  • Passport Photographs
  • employment identification card
  • official email
  • Employment letter
  • Six months bank statement

To qualify for a public sector Zedvance payroll application, you must have:

  • One passport photograph
  • Valid means of identification
  • work identity card

Zedvance for business loan packages are not yet available at the moment but are coming soon.

How to apply for a Zedvance loan?

There are multiple methods of applying for a Zedvance loan. You can apply:

  • Online through the Zedvance Finance Website
  • Through the MoneyPal application
  • Through the Whatsapp Application

To apply through the website, visit 

To apply through the MoneyPal application. Download the MoneyPal application on Google Play or Apple Store and follow the prompts on the application screen.

To apply through the Whatsapp application:

  • Save this number +234 090 9501 7151 as “Zee” in your contact list
  • Open your Whatsapp application and refresh your contacts
  • Search for Zee on your Whatsapp and send “hi” to start the application process
  • You will need to send your BVN and date of birth to Zee

Whichever method you choose to apply, you will need to sign up for a Zedvance account before you can apply for a loan. To sign up, you will need:

  • Your email
  • Your mobile phone number linked to your Bank Verification Number (BVN)
  • Your BVN
  • Date of birth

After registration, you can then choose the loan package that best suits your needs. After choosing the loan, you then have to answer questions to determine your eligibility (your contact information and some more personal data)

If you are deemed eligible, your loan will be disbursed into your account in less than ten minutes.

How much can I borrow from Zedvance?

With the Zedvance Nano loan package, you can get a loan amount from ₦2,500 to ₦100,000, depending on your credit history with Zedvance. This means that you will have the opportunity to borrow higher amounts as you borrow and pay back on time.

Zedvance payroll loans can grant private sector workers a minimum amount of 50,000 and a maximum amount of ₦5,000,000. It can also grant a public sector worker a minimum loan of ₦20,000 and a maximum loan of ₦3,000,000.

Zedvance loan amount

Zedvance Interest rate and loan tenure

Zedvance interest rates do not only differ from package to package, they also differ between individuals also based on many factors determined by Zedvance; a key factor being how likely you are to repay the loan on time. If findings indicate that you might not pay back on time from your previous dealings, you might face a higher interest rate.

Loan tenures for Zedvance Nano packages range from 15 to 90 days, while Zedvance Payroll loan tenures range from 1 to 24 months (18 months for a private sector loan).

Other loan fees and penalties

There is always a 3.5% management fee charged upfront. Failure to repay your loan on time will result in Zedvance reporting you to the Credit Bureau, which may, in turn, lead to a permanent ban from receiving loans from lenders in the future.

Benefits of Zedvance loan

Zedvance finance can offer loans to individuals that may not be eligible to receive loans from other lenders due to their wide range that currently spans from petty traders to non-salary earners. With the loyalty system, individuals with good credit histories can access more cash to conveniently finance their needs without needing to have a business or earn a salary.

The outstanding combination of Nano loan packages that go as low as ₦2,500 and disbursements within 10 minutes means even recharge card sellers, and small-time market retailers can benefit from them on the go.

Where Zedvance can still improve

Zedvance finance application processes can be greatly improved by optimizing the Zedvance website to accommodate more devices. As it stands, some devices find it difficult to apply for loans through the site and this can drive away potential borrowers who want to lend money without having to download a mobile application or through WhatsApp.

As enticing as the Zedvance finance loan offers are, the rigorous application processes, alongside slow and unresponsive technology, make for a bad combination for users; loan application processes should be a convenient experience for borrowers.

Zedvance loan packages are solid all around and even stand to go a step further with the impending introduction of SME loans for entrepreneurs. If you have the patience and required documents to apply for Zedvance loans, the advantages in the end far outweigh the minor inconveniences the processes pose

Frequently Asked Questions (FAQ)

How do I make a loan complaint to Zedvance?

Call +234 070 0100 1000, send an email to either [email protected] or [email protected] to lodge your complaint. Alternatively, you can visit the Zedvance website at to send your complaint through the “contact us” page of Zedvance Finance; you will need to input your name (first name and last), email, the subject and description of your complaint. If you would like to make your complaints physically, however, you can visit 65 Karimu Kotun Street, Victoria Island, Lagos.

What can get my Zedvance Finance loan application rejected?

Your application will not be approved if you have a bad credit history. Zedvance performs a credit check and your credit score will determine if your loan is approved or not; your credit score will be bad if you have not been repaying your previous loans on time or not at all with Zedvance or other lenders. Your loan application will also be automatically rejected if you do not meet the requirements for acquiring a loan such as your age.

Can I apply for a loan without a phone number not linked to my BVN?

No. You will need a valid Bank Verification Number(BVN) and your phone number must be linked to the BVN to apply for a Zedvance loan.

Is it possible to repay my Zedvance loan early?

Yes. Although repayment is automatic, i.e, it will be deducted from your account by Zedvance on the due date, you can also repay your loan early by sending it to:
Account name – Zedvance Limited
Bank name – Access Bank
Account number – 0690282997

Can I apply for a Zedvance loan with USSD?

Yes. Dial *5858#. You must have registered as a public sector employee with Zedvance, with all the appropriate documentation to qualify for a loan. See above for the documents required to register as a public sector employee.