Economy

What Are Things to Know about a Same Day Loan?

Published

3 years ago

11/02/2023

A no-credit-check loan is a type of loan where the lender performs a soft credit check on the borrower instead of a hard credit check. That is a win, especially during emergencies, since you get the money approved faster. This type of loan also applies if you have poor credit or no credit. Its main advantage is that it helps you avoid one of the most challenging obstacles when it comes to borrowing – the hard credit check.

There are typically a few lenders who are prepared to offer same-day loans with no credit check. One of the reasons could be that these loans pose a significant risk to the lenders because of the threat of loss. But this does not mean you will not get a same-day loan with no credit check. The best solution here lies in good research.

Using a top-rated platform for same day loans online such as UnityLoan is an even bigger win for you. UnityLoan is a credit broker that has made it simpler than ever to access quick same-day loans without a credit check. Even with bad credit, their lenders will personally review your application to see if they can help – they usually consider other factors besides your credit score when deciding to give you a loan.

Are Same Day Loans Safe?
There are many safe and legitimate same day loans out here. To access them, you have to perform good research. Always aim for a company that has strict privacy policies and secure transactions. The same company should also be transparent about its terms and conditions.

One platform for same day loans that usually stands out because of public trust and positive reviews from customers is UnityLoan. This platform has millions of users that speak for its reputation. When millions have placed their trust in UnityLoan, it is safe for you to do as well. UnityLoan is a haven for connecting with multiple legitimate lenders for same day loans.

Their lenders usually perform soft credit checks, which allows you to access these loans with bad credit. Such credit checks usually enable instant transactions – you can get payments through selected means after completion and verification of paperwork. This can be done within 24 hours of applying. However, to get approved, you may need to convince the lenders with your educational background, source of income, or past job histories. Check out more by visiting UnityLoan.com.

Unity Loan

The fact that UnityLoan is a transparent platform with no involvement of hidden charges of any kind makes it a safe platform for submitting your request for a same day loan. There is no obligation to accept the loan offer if you disapprove. Additionally, the data you submit while applying remains safe and secure – the platform employs a data encryption process to protect your information from hackers and other parties.

What to Look for in a Top-rated Platform for Same Day Loans?

When you need financial assistance quickly, a same day loan online can help you avoid getting stuck in the long queue at the bank. With same day loans, you can access an immediate influx of funds within a day.

Even with that convenience, you should not just pick any lender you come across. Choose the reliable and trusted ones by considering the following factors:

Annual Percentage Rate: Choose a lender whose APR is favorable, usually within a range from 5.99 – 35.99%. It is essential to carefully examine the APR terms to see if they suit you. You can always reject an offer if you find the terms not useful
Transparent Policies: Nobody wishes to be surprised with extra charges after accessing a loan. Ensure that the company you choose is as transparent as glass. They should disclose every fee upfront before you sign for the loan. That lets you know exactly what you’re getting into.
Fast transactions: Any company should ensure the swift transactions of emergency loans. You don’t have to wait for unnecessary delays or authentication issues, especially after submitting the right documents.
Simple Application Process: Filling and submitting an application should be as easy as possible. You should be able to easily compare and choose offers once the lenders send them after reviewing your information.

UnityLoan is a credit broker that doesn’t charge any fee. This platform provides a streamlined application process, which allows you to complete your application faster and access lenders and funds before midnight. In one application, you usually get access to a pool of lenders within a day.

What Type of Loans Can You Get Same Day

Same-day loans tend to have smaller amounts than other types and have loan terms that last a few weeks or even months. The following is an overview of some loans you can get on the same day:

Payday Loans

Payday loans are meant to help you meet expenses as you wait for your next paycheck. When you borrow these loans, the lender may ask you for your bank account details during the application. Same day payday loans are usually in small amounts and have shorter loan terms.

Payday loans are available fast with no credit check. They are also an alternative option to getting loans with bad credit. However, their interest rates can be very high compared to bad credit loans. Their Annual Percentage Rate (APR) can get close to 400%. If you re-borrow these loans several times, you can end up stuck in a cycle of debt.

Title Loans

These usually take your car as collateral. The lender holds on to your vehicle title and lends you the money. If you default on the loan, the lender may be allowed to seize your car. However, in the meantime, you can still drive your car around as you repay the loan.

Pawnshop Loans

Pawnshop loans require that you offer something valuable like jewelry as collateral for a loan. The pawnshop usually holds on to the item until you repay the loan. APRs for pawnshops usually lie at roughly 240 % because, according to the National Pawnbrokers Association, a fee on a pawnshop could be 20% on $ 80. However, this can also vary by the lender.

Benefits of Taking Out a Same Day Loan

There are many benefits to getting a same day loan. For example, they are an effective way to instant cash, which makes them best for emergencies.

Their application process is easy. When you use a credit broker such as UnityLoan, you use the platform to complete the process, which is entirely online and takes minutes. You only need to fill in and submit the right details, and the loan will be approved if you meet the eligibility conditions.

You can access funds without collateral, meaning you will not need to worry about losing your valuable assets if you default on payment. And also, bad credit is not a problem. Lenders for same day loans look past your creditworthiness when deciding to give you a loan. They usually consider your income and debt-to-income ratio instead.

Apply for a Same Day Loan and Get Approved as Instant as 5 Minutes

You don’t need to get frustrated any time you need instant cash. Try UnityLoan today for lender approval as soon as the minutes of applying.

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Economy

Nigerian Stocks Close 1.13% Higher to Remain in Bulls’ Territory

Published

6 hours ago

20/12/2025

Dipo Olowookere

By Dipo Olowookere

The local stock market firmed up by 1.13 per cent on Friday as appetite for Nigerian stocks remained strong.

Investors reacted well to the 2026 budget presentation of President Bola Tinubu to the National Assembly yesterday, especially because of the more realistic crude oil benchmark of $64 per barrel compared with the ambitious $75 per barrel for 2025. This year, prices have been between $60 and $65 per barrel.

Business Post observed profit-taking in the commodity and energy sectors as they respectively shed 0.14 per cent and 0.03 per cent.

But, bargain-hunting in the others sustained the positive run, with the consumer goods index up by 3.82 per cent.

Further, the industrial goods space appreciated by 1.46 per cent, the banking counter improved by 0.08 per cent, and the insurance industry gained 0.04 per cent.

As a result, the All-Share Index (ASI) increased by 1,694.33 points to 152,057.38 points from 150,363.05 points and the market capitalisation chalked up N1.080 trillion to finish at N96.937 trillion compared with Thursday’s closing value of N95.857 trillion.

A total of 34 shares ended on the advancers’ chart, while 24 were on the laggards’ log, representing a positive market breadth index and bullish investor sentiment.

Austin Laz gained 10.00 per cent to close at N2.42, Union Dicon also jumped 10.00 per cent to N6.60, Tantalizers increased by 9.80 per cent to N2.69, Aluminium Extrusion improved by 9.78 per cent to N12.35, and Champion Breweries grew by 9.71 per cent to N16.95.

Conversely, Sovereign Trust Insurance dipped by 7.42 per cent to N3.87, Royal Exchange lost 6.84 per cent to trade at N1.77, Omatek slipped by 6.84 per cent to N1.09, Eunisell depreciated by 5.88 per cent to N80.00, and Eterna dropped 5.63 per cent to close at N28.50.

Yesterday, traders transacted 1.5 billion units worth N21.8 billion in 25,667 deals compared with the 839.8 million units sold for N32.8 billion in 23,211 deals in the preceding session, showing a surge in the trading volume by 76.61 per cent, an uptick in the number of deals by 10.58 per cent, and a shrink in the trading value by 33.54 per cent.

Economy

FrieslandCampina, Two Others Erase N26bn from NASD OTC Bourse

Published

8 hours ago

20/12/2025

Adedapo Adesanya

By Adedapo Adesanya

Three stocks stretched the bearish run of the NASD Over-the-Counter (OTC) Securities Exchange by 1.21 per cent on Friday, December 19, with the market capitalisation giving up N26.01 billion to close at N2.121 billion compared with the N2.147 trillion it ended a day earlier, and the NASD Unlisted Security Index (NSI) dropping 43.47 points to 3,546.41 points from 3,589.88 points.

The trio of FrieslandCampina Wamco Nigeria Plc, Central Securities Clearing System (CSCS) Plc, and NASD Plc overpowered the gains printed by four other securities.

FrieslandCampina Wamco Nigeria Plc lost N6.00 to sell at N54.00 per unit versus N60.00 per unit, NASD Plc shrank by N3.50 to N58.50 per share from N55.00 per share, and CSCS Plc depleted by N2.91 to N33.87 per unit from N36.78 per unit.

On the flip side, Air Liquide Plc gained N1.01 to close at N13.00 per share versus N11.99 per share, Golden Capital Plc appreciated by 70 Kobo to N7.68 per unit from N6.98 per unit, Geo-Fluids Plc added 39 Kobo to sell at N5.50 per share versus N5.11 per share, and IPWA Plc rose by 8 Kobo to 85 Kobo per unit from 77 Kobo per unit.

During the trading day, market participants traded 1.9 million securities versus the previous day’s 30.5 million securities showing a decline of 49.3 per cent. The value of trades went down by 64.3 per cent to N80.3 million from N225.1 million, but the number of deals jumped by 32.1 per cent to 37 deals from 28 deals.

Infrastructure Credit Guarantee Company (InfraCredit) Plc finished the session as the most active stock by value on a year-to-date basis with 5.8 billion units valued at N16.4 billion, followed by Okitipupa Plc with 178.9 million units transacted for N9.5 billion, and MRS Oil Plc with 36.1 million units traded for N4.9 billion.

The most active stock by volume on a year-to-date basis was still InfraCredit Plc with 5.8 billion units worth N16.4 billion, trailed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.7 million, and Impresit Bakolori Plc with 536.9 million units traded for N524.9 million.

Economy

Naira Crashes to N1,464/$1 at Official Market, N1,485/$1 at Black Market

Published

10 hours ago

20/12/2025

Adedapo Adesanya

By Adedapo Adesanya

It was not a good day for the Nigerian Naira at the two major foreign exchange (FX) market on Friday as it suffered a heavy loss against the United States Dollar at the close of transactions.

In the black market segment, the Naira weakened against its American counterpart yesterday by N10 to quote at N1,485/$1, in contrast to the N1,475/$1 it was traded a day earlier, and at the GTBank forex counter, it depreciated by N2 to settle at N1,467/$1 versus Thursday’s closing price of N1,465/$1.

In the Nigerian Autonomous Foreign Exchange Market (NAFEX) window, which is also the official market, the nation’s legal tender crashed against the greenback by N6.65 or 0.46 per cent to close at N1,464.49/$1 compared with the preceding session’s rate of N1,457.84/$1.

In the same vein, the local currency tumbled against the Euro in the spot market by N2.25 to sell for N1,714.63/€1 compared with the previous day’s N1,712.38/€1, but appreciated against the Pound Sterling by 73 Kobo to finish at N1,957.30/£1 compared with the N1,958.03/£1 it was traded in the preceding session.

The market continues to face seasonal pressure even as the Central Bank of Nigeria (CBN) is still conducting FX intervention sales, which have significantly reduced but not remove pressure from the Naira. Also, there seems to be reduced supply from exporters, foreign portfolio investors and non-bank corporate inflows.

President Bola Tinubu on Friday presented the government’s N58.47 trillion budget plan aimed at consolidating economic reforms and boosting growth.

The budget is based on a projected crude oil price of $64.85 a barrel and includes a target oil output of 1.84 million barrels a day. It also projects an exchange rate of N1,400 to the Dollar.

President Tinubu said inflation had plunged to an annual rate of 14.45 per cent in November from 24.23 per cent in March, while foreign reserves had surged to a seven-year high of $47 billion.

Meanwhile, the cryptocurrency market was dominated by the bulls but it continues to face increased pressure after million in liquidations in previous session over accelerating declines, with Dogecoin (DOGE) recovering 4.2 per cent to trade at $0.1309.

Further, Ripple (XRP) appreciated by 3.9 per cent to $1.90, Cardano (ADA) rose by 3.5 per cent to $0.3728, Solana (SOL) jumped by 3.4 per cent to $126.23, Ethereum (ETH) climbed by 2.9 per cent to $2,982.42, Binance Coin (BNB) gained 2.0 per cent to sell for $853.06, Bitcoin (BTC) improved by 1.7 per cent to $88,281.21, and Litecoin (LTC) soared by 1.2 per cent to $76.50, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.