House rent loan companies in Nigeria are companies that provide non-collateral loans to working professionals who need loan facilities to rent a house for residential purposes. The services offered are rent advance loans which are normally available for employed persons living in the country
What is Rent Loan
If you’re facing a financial emergency, rent loans – also known as rent assistance loans – offer a way to finance one month’s rent over one or multiple months. Lenders provide what are essentially short-term loans that you pay off in installments. Like with other loans, you’re charged interest. House Rent loan companies provide accommodation loans to specific target individuals which the employment target forms the major target of most of these companies
What To Look Out For In A Loan Company In Nigeria
1. Reputation:
Search for a loan firm in Nigeria with a high reputation. Read prior client reviews and ratings to discover whether they have a track record of offering dependable and trustworthy services.
2. Interest rates:
Compare interest rates from several loan businesses to locate one with a competitive rate. Reduced interest rates can save you money over time, especially if you take out a long-term loan.
3. Fees and charges:
Several lending companies in Nigeria levy extra fees and levies that can rapidly pile up. Search for a lending firm that is upfront about its fees and charges and provides competitive rates.
4. Flexibility of repayment:
Pick a lending firm with flexible payback terms that are appropriate for your financial circumstances. If you are having financial troubles, certain loan firms may give choices for early repayment or extending the repayment duration.
5. Customer service:
Good customer service is important in any business, including loan companies. Look for a company that provides prompt and helpful customer service, with multiple channels for communication.
A portion of these organizations is as per following:
SOFRI-SOFRI
Sofri is a loan financing company with several loan products on Sofri rent loan, Sofri salary express, Sofri auto loan. Sofri has one of the most competitive interest rates in Nigeria most especially for the house rent loan arm which gives customers up to N5 million within 24 to 72 hours depending on the loan category. To get a Sofri house rent loan, you should be in a functioning paid employment and must have a good income statement history and can boast of regular monthly earnings for repayments. The lowest loan sum is N100,000 while the financing cost is 2% each month which is perhaps the least expensive advance all things considered.
RENMONEY
Renmoney is one of the loan companies in Nigeria that provides micro-business loans up to N4 million. To get a Renmoney SME loan, your business must have a good income statement history and can boast of regular monthly earnings for repayments. The minimum loan amount is N100,000 while the interest rate is 2.8% per month.
CARBON
In the past (and prominently) known as PayLater, Carbon Loan is a moment online loan application that gives you admittance to an advance in minutes in Nigeria. The 3-year-old loaning application prides itself as “a basic advanced funds the executives’ stage” that gives moment online loans to help you cover pressing and surprising money needs.
BRANCH
Branch Loan is another stage that offers snappy online loans in Nigeria. You can gain admittance to advances from ₦1,000 to ₦200,000 within 24hrs, with a time of 4 to 40 weeks to take care of. It is apparently viewed as quite possibly the most solid stage where you can get an online loan considering its method of activity. Its loan fee seethes from 15% to 34%.
FAIRMONEY
FairMoney is an authorized loan application that offers brisk advances to cook for needs like bill installments. It requires your Bank Verification Number and your charge card to get a loan (from ₦2,500 to ₦150,000). Loan interests on Fair Money start at 5% and can grow up to 28% contingent upon the amount you are getting. Additionally, it runs a loan term length of 4 – 26 weeks. In the event that you take care of your loan before the due date on Fair Money, you’d reimburse at a diminished loan fee.
KIAKIA
KiaKia Loan is a stage where you can get an advance in Nigeria as an individual or a business. Supported by Sterling Bank Plc, the loaning stage additionally permits savers to loan out assets at arranged interests through natural discussions. Its base advance sum begins at N50,000 with a loan cost of 3.5% each month.
FINT LOAN
Fint Loan awards you admittance to moderate advances. This is one of the advanced organizations in Nigeria that offers you the chance to acquire at as low as 2% month to month for your rent, doctor’s visit expenses utilities, and school charges for yourself and your associates once you register your organization on the FINT business model.
SPECTA LOAN
Specta loan advance is your hotspot for a crisis loan in Nigeria. The organization offers 3 distinctive advance items which include:
• MySpecta – for fast advances of up to NGN 5m shortly
• Specta Score – for checking your loan standing and estimating your total assets
• Specta4Business – for getting to business loans.
OKASH LOAN
Fundamentally known as the Okash loan, this is a loaning stage claimed by the tech monsters – Opera. They have situated themselves as one of the legitimate advanced organizations in Nigeria today. To get a moment loan, all you should do is download the Okash versatile application, open a record, give you subtleties, and hang tight for the endorsement. You’ll get your loan inside 24hrs.
4 Tips to Do to Avoid Eviction from Your Landlord When You Cannot Pay for Your Rent
The solitary sure approach to try not to lose your home or loft is to make the installments and follow the particulars of the tenant contract. If you are having trouble making installments on schedule, notwithstanding, there are a couple of presence of mind interesting points while you work out your monetary challenges.
Tip 1
Speak with the landlord of the property, the workplace, or whoever gets your rent check every month. Don’t simply not compensation and pray fervently – call or visit and serenely clarify the circumstance and console them of your assurance to pay. While you don’t have to overshare the subtleties of your own life, be set up to clarify enough about your conditions to help the possibility that money is, truth be told, in transit and that you are motivated while trusting you will not have this equivalent trouble each month.
Contingent upon the kind of individual in control or the strategies of whatever organization possesses your home, it may not change anything. Regularly, be that as it may, a little correspondence and amicability go far. Regardless of whether you wind up paying late expenses or other extra charges, you may get yourself some time.
Tip 2
Pay what you can. On the off chance that you have a loft that costs $500/month and you basically don’t have it, consider paying $250 with a pleasant clarification and a very close gauge of when you’ll have the rest.
Tip 3
Ensure you are following every one of the arrangements and inclinations illuminated in your renting understanding. This doesn’t make it OK not to pay, but rather you would prefer not to give them extra motivations to need you out. Be the best occupant they’ve at any point had from the very beginning and you may get yourself some slack when difficulties gain out of power.
Tip 4
investigate Eviction Prevention Programs (EPP) in your general vicinity. These fluctuate from one state to another, yet overall, they’re intended to help individuals who are experiencing issues paying their rent because of a generous life occasion and are at risk for fast-approaching ousting.
Conclusion
Smoothly clarify your circumstance and ask what they can do or what they suggest. You may likewise discover help from the neighborhood’s government offices or beneficent associations. Most urban communities and states offer lodging programs. There are additionally non-benefits in your general vicinity which might have the option to assist you with rent or point you towards associations that can. Try not to be reluctant to contact your neighborhood church, United Way, Salvation Army, or other magnanimous establishments. This is essential for what they do.
