QuickLoan is a top-rated mobile lending app designed for users seeking unsecured personal loans. It boasts more than 100,000 downloads and an impressive rating of 4.4 stars. Loans range between 3,000 and 300,000 ETB with annual interest rates reaching up to 18%. Brittle to no extra service fees ensure clarity and affordability throughout your borrowing experience.

The repayment term is flexible, starting from 91 days and extending up to 180 days. For instance, borrowing 300,000 ETB for 180 days at the maximum interest rate results in just 26,630 ETB total interest. QuickLoan does not charge a processing fee or GST, highlighting its customer-friendly policy.

How to Apply Step by Step

• Install the QuickLoan app from Google Play Store.
• Register using your national ID and mobile number.
• Submit your loan application on the platform.
• Wait briefly for approval and funds transfer.
• Receive the loan directly in your bank account.

Advantages of QuickLoan

QuickLoan stands out thanks to instant approval and an entirely online process. There’s no need for collateral, and you are not charged hidden or excessive fees. The transparent calculation of interest gives borrowers peace of mind when making repayment decisions.

Another notable benefit is the system’s accessibility to a wide range of borrowers, particularly individuals with limited access to traditional banks. Moreover, QuickLoan enforces clear age and citizenship eligibility requirements, helping you know precisely if you qualify before you invest time in the process.

Possible Drawbacks

Despite its simplicity, some users report confusion about the disbursed amount and repayment requirements. There may be interest deductions upfront, which reduce the net amount received versus the applied sum. Additionally, feedback reveals concern over app permissions, such as access to SMS or contacts, though the provider states such information is used only for verification.

If you are particularly privacy-conscious or sensitive about app permissions, these areas deserve a closer look before applying. Finally, while the loan is open to many, only those with stable income sources will gain approval.

Verdict

QuickLoan is a credible and accessible solution for quick, unsecured financing in Ethiopia. Its no-fee structure, transparency, and relatively low maximum APR make it appealing for short-term borrowing. While a few concerns about privacy and loan disbursement clarity exist, overall user reviews and features suggest that QuickLoan is a viable option if you need fast financial support and meet the eligibility requirements.