Kuda Loan Review 2021: Get Your First Loan On Kuda Right Now

Hey guys, in this article am going to share with you, the kuda loan review: everything you need to know right now before applying for Kuda loan. Let’s get started!

What is Kuda Bank?

Kuda is a bank just like first bank, wema bank, access bank and other banks in Nigeria.

Kuda bank is a monetary company that is solely online and carries out financial operations with a banking license from the Central Bank of Nigeria.

Kuda loan


The Kuda bank was created by Babs Ogundeyi. He studied at Brunel College, London, and has engaged in working throughout the boundaries of finance for almost all of his profession.

The Kuda bank is particularly for phone users, because they don’t have any physical branch.

Note: before you can get loan on Kuda bank, you have to create account, verify your account and active on the app.

So here is how to register Kuda bank and how to upgrade your kuda account for you  to get kuda loan.

Also, See:

How to sign-up on the Kuda app

To register and generate your Kuda bank account number, follow this guidelines below:

  1. Open Google play store, install and and launch the app.
  2. Then click sign up because you’re their  new consumer.
  3. Fill within the required information.
  4. This can embrace your email address, password, phone number, and  referral code.
  5. Confirm your phone number through the OTP which you’ll obtain by means of the phone number you provided.
  6. Lastly, you’ll be required to take a selfie and that’s it.
  7. You are now a bonafide Kuda bank consumer.

So after signing up, you won’t be able to transfer money to other bank except other kuda account.

And you might want to open an account. The Kuda app will present an account number that you need to use to execute transactions.

Like I said earlier, you can’t send money to other bank, to upgrade your account you have to provide your BVN.

And Kuda have three type of account, Which are:

Lite Account.

You will offer your identify and phone number to register on the Lite account, whilst you want a reputation, phone number in addition to BVN to register on the Primary account.

Premium account:

The premium account is the very best tier. To register, you need a reputation, phone number, a legitimate ID, and your BVN.

The premium account lets you transfer funds as excessive as 250,000 max directly, plus most transfers per day prolonged to N1 million however stand at 500,000 on a POS terminal.

Also, See:

How To Get Kuda Loan.

Kuda bank offer loan for their active users. If you are active on the Kuda bank mobile app, you will be able to get loan quickly.

Yes: with kuda bank, it’s possible to take quick short-term loans without doing any paperwork.

And Also, you can decide to pay them back at any time,with just 0.3% daily interest.

If you are ready, here’s how to apply for a Kuda Loan.

  1. Go to Google play store, and search for “Kuda bank”
  2. Install and Open the Kuda app, then swipe to your borrowed account.
  3. Click on borrow.
  4. And click on Get your Overdraft.
  5. Touch next, to proceed
  6. Now Input the amount you want to borrow and then click done.
  7. You will be asked to enter your PIN.
  8. Verify your transaction PIN.
  9. You can also use Face or fingerprint to verify the transaction.
  10. Now click on okay.
  11. And transfer your money to any bank.

How much can I borrow from Kuda Loan?

You can borrow up to 50,000 naira at a daily interest rate of 0.3% of any amount you borrow from them.
The amount available to borrow varies for different account holder depending on credit reports and how much you has been using your kuda. account.
If you have any questions regarding how to get kuda loan, feel free to drop your comment through the comment section below.
And don’t forget to share this article with your friends and family on social media network below. Thanks for reading.

7 thoughts on “Kuda Loan Review 2021: Get Your First Loan On Kuda Right Now”

  1. I have submitted everything my iD my nvm and everything but it’s not working still telling me I can’t get a loan and I have do more than 200k transactions……

  2. Emmanuel Adewale

    My overdraft balance has been #0 since and after several transactions.
    The respond has been ‘No supplier ID found’.

    What do I do?

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