₦1,000 - ₦150,000
Loan Amount
0-15%
Monthly Interest
7-30 days
Repayment Term
Instant
Approval Time
Pros & Cons
Pros
- ✓Interest-free overdraft up to ₦30,000
- ✓No hidden charges
- ✓Full digital bank features
- ✓Free transfers to any bank
- ✓No monthly maintenance fees
- ✓CBN licensed microfinance bank
Cons
- ✗Lower loan limits than competitors
- ✗Need salary deposits for higher limits
- ✗Overdraft only (no traditional loans)
- ✗Must maintain active account usage
How to Apply for Kuda Loan
- 1
Download Kuda app from Play Store or App Store
- 2
Sign up with your BVN and phone number
- 3
Complete identity verification
- 4
Receive your Kuda account number
- 5
Start receiving salary or making transactions
- 6
Overdraft becomes available automatically based on activity
User Reviews
Blessing A.Verified
Lagos
January 2025
Love the free overdraft feature. Got ₦25,000 interest-free when I needed it most. Best bank account I have.
Femi O.Verified
Abuja
December 2024
Kuda is great for everyday banking. The overdraft is helpful but limits are low compared to loan apps.
Halima M.
Kaduna
November 2024
Free bank account with free transfers. Overdraft is a nice bonus. Customer service needs improvement though.
Frequently Asked Questions
Is Kuda overdraft really free?
Yes, Kuda offers interest-free overdrafts up to ₦30,000 for 14 days. After 14 days, a small fee may apply.
How do I qualify for Kuda overdraft?
You need consistent salary deposits or regular transaction activity. Kuda uses your banking behavior to determine eligibility.
Is Kuda a real bank?
Yes, Kuda is a licensed microfinance bank regulated by the Central Bank of Nigeria (CBN).
Quick Info
- Founded
- 2019
- Headquarters
- Lagos, Nigeria
- CBN Licensed
- Yes
- Disbursement
- Instant
- Last Updated
- 2025-01-19
Requirements
- •Valid BVN
- •Nigerian phone number
- •Kuda account with salary deposits
- •Consistent account activity
- •Age 18-55 years