Credit Direct (personal loans) — review & details
Credit Direct Finance Company Limited is a long-established consumer lender (part of the FCMB group family) licensed by the Central Bank of Nigeria, serving over 2 million customers. Its site advertises personal loans of up to ₦20 million over up to 24 months for private-sector salary earners, with no collateral or guarantor, plus dedicated products for federal, state and paramilitary workers.
Licensed finance company
Credit Direct (personal loans)
★★★★☆
Salary-earner personal loans (private and public sector)
Loan Type
Up to 24 months (per creditdirect.ng)
Tenor
Finance company (CBN-licensed, stated on its site)
Licence
Fast digital application; disbursement after KYC
Speed
Formal-sector salary earners who want more than an app loan without a bank switch
Best For
finance-house
Type
Pros
- CBN-licensed finance company with a two-decade track record, not an anonymous loan app
- Advertises up to ₦20 million over up to 24 months — far beyond typical instant-loan caps
- No collateral or guarantor required, per its site
Cons
- Consumer finance-company credit in Nigeria is expensive — the site does not publish rates, so demand the full repayment schedule before signing
- Minimum net monthly salary of ₦100,000 (per its site) excludes many earners
- Repayment is collected by direct debit or debit-card mandate on your salary account — instalments leave first, whatever else the month brings
Fees, eligibility & documents
Fees
InterestNot published on creditdirect.ng — quoted per applicant. Finance-company personal loans typically cost materially more than bank payroll loans; confirm the live offer.
Eligibility
- Private-sector employees aged 22–59 (per its site); separate products for federal, state and paramilitary workers
- At least 6 months' salary history and a minimum net monthly salary of ₦100,000 (per its site)
- Active account with a Nigerian commercial bank, good credit history in the last 2 years
- Valid staff ID and government-issued ID; active debit card or direct-debit mandate
Documents needed
- Government-issued ID (passport, driver's licence, voter's card, NIN)
- BVN
- Staff ID and bank statements as requested
How Credit Direct (personal loans) compares in personal loans
| Credit Direct (personal loans) | FairMoney | GTBank (QuickCredit) | |
|---|---|---|---|
| Loan Type | Salary-earner personal loans (private and public sector) | — | Instant personal loan for GTBank customers |
| Tenor | Up to 24 months (per creditdirect.ng) | — | Monthly instalments, up to about a year |
| Licence | Finance company (CBN-licensed, stated on its site) | CBN microfinance bank | Product of Guaranty Trust Bank, a CBN-licensed commercial bank |
| Speed | Fast digital application; disbursement after KYC | — | Minutes via USSD (*737*51*51#) or the app — no branch visit |
| Best For | Formal-sector salary earners who want more than an app loan without a bank switch | — | Salary earners and active GTBank customers who want cheap credit |
| Visit Credit Direct → | Visit FairMoney → | Visit GTBank → |
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