There are many microfinance banks in Nigeria. Most of them are not legit. However, most of them were banned by the Federal Government of Nigeria. You can easily come by any Microfinance Bank when you surf the internet. This article highlights the Top 15 Best Microfinance Banks in Nigeria. Here they are:
Kuda Microfinance bank
Kuda is one of the top Microfinance banks in Nigeria. It is a bank known to be online-based. It came into existence some years ago. However, it is in the top banks in Nigeria. Although it was launched in 2016 and known as ‘Kudi Moni’. The bank has been in operation for 8 years. It can perform the duty of a conventional bank. You can create a Kuda bank by downloading the app, creating an account, etc. You can perform all transactions that you can do with a conventional bank in Nigeria.
Lapo Microfinance Bank
Lapo Microfinance Bank is one of the most popular banks in Nigeria. Although, it is very historical. It has been in existence since the 80s. It is a bank common among people in the commercial world. It gives loans to medium and small-scale entrepreneurs who are planning to upgrade their businesses in Nigeria.
AB Microfinance Bank
AB Microfinance Bank is one of the most used microfinance banks in Nigeria. It focused on micro and small-scale businesses in Nigeria. Enterprises that bank with AB Microfinance Bank are assured of receiving services just like any other conventional platform. You can access a variety of loans such as SME loans, short-term loans etc. Customers can also access their deposits, open accounts, and general banking services.
Nirsal Microfinance Bank
Nirsal Microfinance Bank is an intervention bank that helps the Central Bank of Nigeria to lend money to qualified people. Nirsal has branches in all the states in Nigeria. It had over 115 branches in all the states in Nigeria. It has the same functions just like any other bank in the country.
Asset Microfinance Bank
Asset Microfinance Bank is a top bank in Nigeria. Although it has almost the same function as the Nirsal Microfinance Bank. It is an intervention bank that helps qualified people around Nigeria to obtain funds. It is not run by the Central Bank of Nigeria. However, it is controlled by the Apex Bank. You can easily create a current and savings account with the Asset Microfinance Bank.
Accion Microfinance Bank
Accion Microfinance Bank is just like any of the listed banks above. The objective is to fund top businesses in Nigeria. It also helps low-salary earners in Nigeria borrow funds for a low-interest rate. The company has many loan options for customers. The platform has loans such as education loans, home loans, and business loans.
VFD Microfinance Bank
VFD Microfinance Bank is another online microfinance platform in Nigeria. It is a financial institution that helps people and businesses obtain any other banking service they would expect in a conventional bank. It has an online platform that attract the online crowd. VFD is also very secure. Your funds are in safe hands with the platform.
Bank of Industry
Bank of Industry is a subgroup for microfinance clients. It aims to help big and top businesses with funds. Boi also enables clients all over Nigeria to obtain personal loans. It also helps to encourage entrepreneurs in Africa. It also enables people to obtain funds for their business. It offers a savings platform for small and micro-scale businesses in Africa.
Fina Trust Microfinance Bank
Fina Trust Bank performs the role of a normal bank. Yes. It enables people to collect loans easily without delay. It possesses a lot of loan options such as Education loans, Auto loans, Personal Loans, etc. Fina Trust Microfinance Bank has an app that is available for download on Playstore and Apple Store.
Sparkle Microfinance Bank
Sparkle Microfinance Bank is one of the best banks in Nigeria. It allows people to access the functions you can find only using commercial banks. You don’t have to visit their office to make a complaint. Sparkle Microfinance Bank has an app that is available for download on Playstore and Apple Store. You can access their app to make any transactions happen within a twinkle of an eye.
Mutual Trust Microfinance Bank
Mutual Trust Microfinance Bank is a bank that has very creative ideas for its clients. The most beautiful thing about Mutual Trust Microfinance Bank is that it gives loans so instantly that you would not imagine. They give loans within a short period. Also, they possess a platform where clients can get other banking services without hassle.
Addosser Microfinance Bank
Addosser Microfinance Bank is a very reliable platform. It helps people with small-scale businesses to get funds for their businesses. It helps encourage financial inclusion that helps dictate the funds in the Nigerian economy. Another important feature of Addrosser Microfinance Bank is that they help businesses with microloans.
ABN Microfinance Bank
This bank offers a wide range of services to the Nigerian market. It helps small and micro-scale businesses to take advantage of their loan platform. It has become a powerhouse for those seeking financial help.
Page Microfinance Bank
PagMicrofinance Banknk was established 14 years ago. It has become popular because of the way it satisfied customers with its approach to banking. It helps to help people who are not able to access financial institutions to get an account and get in Vogue.
FBN Microfinance Bank
FBN Microfinance Bank is a financial institution that helps people keep their funds in a safe environment. It is one of the leading Microfinance Bank in Nigeria. It has a wide range of banking services to its customers.
How much is Opay in Nigeria?
Opay was established in 2018. Since its establishment, it has been in existence for 5 years.
Which bank is Palmpay under?
PalmPay is a Fintech company. It is duly licensed under the Central Bank of Nigeria
Which bank is Opay under?
OPay is duly licensed by the Central Bank of Nigeria. However, all deposits are insured by the National Deposit Insurance Company.
Is Opay a Microfinance bank?
OPay Mfb is powered by Blueridge microfinance bank in Nigeria.
How does ABN Microfinance Bank work?
This bank offers a wide range of services to the Nigerian market. It helps small and micro-scale businesses to take advantage of their loan platform.
There you have it. These are the top microfinance banks in Nigeria. These are the Top 15 Best Microfinance Banks in Nigeria without any further ado. They have also satisfied the rating on Google Playstore.