Kuda review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Kuda suits Nigerian residents who want a small personal loan paid into their bank account the same day, not a long repayment. The rate is fixed at an APR of 9%, and the trade-off is speed against a term of just 1 to 3.

Key facts

Best for
A small fixed-rate personal loan, funded the same day into an existing Kuda account.
APR
9% (Source, checked September 26, 2026)
Loan amount
NGN 150,000 (Source, checked September 26, 2026)
Term
1 to 3 months (Source, checked September 26, 2026)
Funding time
Loan paid into the Kuda account in minutes (Source, checked September 26, 2026)
Rate type
Fixed (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Eligibility
At least 16 years old; Nigerian resident with BVN or NIN, email address and phone number (Source, checked September 26, 2026)
Loan types
Personal, Credit-line (Source, checked September 26, 2026)
Legal entity
Kuda Microfinance Bank Limited (Source, checked September 26, 2026)
Headquarters
Nigeria (Source, checked September 26, 2026)
Support channels
Email, Chat, Phone, Help-centre (Source, checked September 26, 2026)
Pricing model
Fixed rate
Features
Same-day funding
Official website
kuda.com

Apps and profiles

Get the app
App Store
Elsewhere
WikidataLinkedInX

Pros and cons

Pros

  • Ranked 139 of 350 brands on APR, with an APR of 9% against a site median of 12%
  • Same-day funding: Loan paid into the Kuda account in minutes
  • A direct lender rather than a broker, per direct lender
  • Licensed by the Central Bank of Nigeria under RC 796975

Cons

  • Terms run 1 to 3, so the NGN 150,000 maximum suits repeat short borrowing rather than one large cost
  • The catalogue is narrow: personal and credit line covers a personal loan and a credit line only
  • NG is the only market Kuda serves, so borrowers elsewhere cannot apply
Kuda

Ready to try Kuda?

Scored 9.1 / 10 by BorrowCue.

See alternatives

Who it suits

  • Nigerian residents holding a BVN or NIN, with an email address and phone number, as the eligibility rules ask
  • Existing Kuda account holders, since Loan paid into the Kuda account in minutes pays the loan straight into that account
  • Borrowers who want a direct lender on a fixed rate: direct lender and fixed rate

Who should look elsewhere

  • Not for borrowers who want a rate band to plan around, since Kuda publishes one 9% figure where Cashspace shows APR of PHP 12 to PHP 36
  • Not for Monzo Flex customers who bank elsewhere, as Loan paid into the Kuda account in minutes pays the loan into a Kuda account
  • Not for cost shoppers who assume the lowest headline rate wins, given Cashspace ES lists APR of 0% against Kuda's 9%

How Kuda compares

Where Kuda is available

Available
Nigeria
Licence in Nigeria
Central Bank of Nigeria (RC 796975), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What rate does Kuda charge on a personal loan?+

Kuda lists an APR of 9% on its personal loan, and the rate type is fixed per fixed. That sits below the site median APR of 12%. The same lender also offers a credit line, listed alongside the personal loan in personal and credit line.

How much can I borrow, and for how long?+

The borrowing maximum is NGN 150,000, in Nigerian naira, and the repayment term runs 1 to 3. That is a short window, so a larger sum has to clear quickly. Kuda is a direct lender rather than a broker, per direct lender.

How quickly is the money sent?+

Funding is the same day. Loan paid into the Kuda account in minutes states that the loan is paid into the Kuda account in minutes, and same day funding carries the same-day funding flag. Because the money lands in the Kuda account, having that account open matters.

Is Kuda regulated?+

Yes. The lending entity is Kuda Microfinance Bank Limited, and its Central Bank of Nigeria licence is recorded as RC 796975. Its headquarters country is NG, so the lending market is for Nigerian residents rather than a single wider region.

Who can apply for a Kuda loan?+

The eligibility rules ask for adults, which sets a minimum age, who are Nigerian residents holding a BVN or NIN, plus an email address and a phone number. The loan and the account both sit with Kuda Microfinance Bank Limited, the legal entity behind the product.

What types of loan does Kuda offer?+

The list is short: personal and credit line names a personal loan and a credit line. The personal loan runs on a fixed rate per fixed rate and tops out at NGN 150,000. Both are handled by the same bank, so the account carries the lending relationship.

How do I get help with the loan or the account?+

Support runs through email, chat and phone: email, chat, phone and a help centre. That covers questions on the loan and on the account, so a repayment query can go to the team by phone or through the help centre.

How does Kuda rank on cost?+

Kuda's 9% APR ranks 139 of 350 brands on this measure, against a site median of 12%. The overall score is 6.2, and the cost part of it is 6.2.

Sources

  • kuda.com checked September 26, 2026

    Backs: Lender type

    “Kuda Microfinance Bank Limited is incorporated in Nigeria (RC No: 796975) and is licensed by the Central Bank of Nigeria as a National Microfinance Bank.”

  • kuda.com/about checked September 26, 2026

    Backs: Headquarters

    “1-11 Commercial Avenue, Yaba, Lagos, Nigeria”

  • kuda.com/borrowing checked September 26, 2026

    Backs: Loan types

    “Access loans and overdrafts when you need them.”

  • kuda.com/faq checked September 26, 2026

    Backs: Eligibility, Legal entity, Support channels, Licences

    “To open a Kuda account, you must be at least 16 years old and you must have an email address and a phone number.”

  • kuda.com/personal-loan checked September 26, 2026

    Backs: Loan amount, Features, Funding time, Pricing model, Rate type, Term

    “Get a loan of up to ₦150,000 on the Kuda app”

  • kuda.com/personal-loan/loan-calculator checked September 26, 2026

    Backs: APR

    “If you take a loan of ₦0.00 at a monthly interest rate of 9%, you'll repay ₦0.00 monthly for 1 month.”

Compiled from 6 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Arrangement fee, Credit check, Representative example.

Related by the facts

Kuda

Kuda

A small fixed-rate personal loan, funded the same day into an existing Kuda account.

9.1/10See alternatives

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