ALAT by Wema Review
VerifiedCBN LicensedNigeria's first fully digital bank with instant loans
₦10,000 - ₦2,000,000
Loan Amount
4-12%
Monthly Interest
30-180 days
Repayment Term
5-30 minutes
Approval Time
Pros & Cons
Pros
- ✓Full digital bank services
- ✓Backed by Wema Bank (established 1945)
- ✓Competitive interest rates
- ✓Multiple loan products
- ✓Target savings and goals features
- ✓Free debit card
Cons
- ✗Need ALAT account activity for loans
- ✗Initial loan limits may be low
- ✗App performance issues reported
- ✗Customer service can be slow
How to Apply for ALAT by Wema Loan
- 1
Download ALAT app
- 2
Open account with BVN
- 3
Use account for salary/transactions
- 4
Navigate to Loans section
- 5
Check available loan offers
- 6
Select amount and tenure
- 7
Receive instant disbursement
User Reviews
Emeka A.Verified
Lagos
January 2025
ALAT is my main bank account. Got ₦300,000 loan at 5% monthly. Very reliable.
Funke O.Verified
Ibadan
December 2024
Good bank app with loan feature. Better rates than standalone loan apps.
Hassan M.Verified
Kano
November 2024
Been using ALAT for 2 years. Loan limits keep increasing. Happy with the service.
Frequently Asked Questions
Is ALAT a real bank?
Yes, ALAT is the digital banking platform of Wema Bank, one of Nigeria's oldest banks established in 1945.
How do I qualify for ALAT loan?
Use your ALAT account regularly for salary deposits and transactions. Loan eligibility is based on your banking activity.
What types of loans does ALAT offer?
ALAT offers instant loans, salary advance, PayDay loans, and special loans for different purposes.
Quick Info
- Founded
- 2017
- Headquarters
- Lagos, Nigeria
- CBN Licensed
- Yes
- Disbursement
- Instant
- Last Updated
- 2025-01-19
Requirements
- •Valid BVN
- •Nigerian phone number
- •ALAT account with transaction history
- •Regular salary or income deposits
- •Age 18-59 years