Where you might get collateral-free individual loans online in Nigeria

Accessing unsecured loans has brought a various measurement with a number of providers offering collateral-free loans without the necessity a proof work if not a call to a banking hallway for a few documents.

The payment duration of these ranges from 2 weeks to six months, according to the providers. The utmost amount you can access initially is based on the supplied information, and asked for funds are transmitted very nearly instantly.

Listed here are a few of the providers of these loans that are personal no specific other.

  • Needs: Valid bank details and BVN
  • Platform: Android
  • Interest: 5% to 30%, based on credit history
  • Loan tenure: 15 times to six months
  • Numerous loans at time: No
  • Repayment stations: Debit Card, Quickteller and direct transfer

All you need is an Android device, data connection and valid bank details to access personal loans from Paylater. Paylater claims that users that repay on-time gain access to a greater credit restrictions. There is certainly a validation charge of ? 100 in the initial loan.

KwikCash by 9mobile

  • Needs: a number that is mobile legitimate bank details
  • Platform: USSD (*561#), internet
  • Interest: 10 – 20%
  • Loan tenure: week or two
  • Numerous loans at a right time: No
  • Repayment networks: ATM, debit card, USSD and transfer/deposit that is direct

The complete means of borrowing starts and stops with *561#, for the 9mobile line. The solution is just available to other systems through the net platform.

You have access to as much as ?100, 000 and the loan is got by you within three full minutes. If you’re wondering what the results are whenever you port to some other system, you are able to elect to pay utilizing some of the available repayment stations. There clearly was a community charge of ?20 per loan on 9mobile community.

Aella Credit

  • Demands: Valid bank details, BVN and boss enrollment (for in-network loans)
  • Platform: Android
  • Rate of interest: 20% – 27% for away from system loan
  • Month loan tenure: One
  • Numerous loans at a right time: No
  • Payment channel(s): Debit card

Aella Credit has two options: in-network — for users whoever company is registered in the platform — and out-of-network, that caters for folks whoever business is certainly not registered. The in-network option guarantees greater loan quantities at reduced rates of interest.

The main information required on enrollment include information on your following of kin, and there’s a processing cost of ?30.


  • Needs: Employer enrollment, legitimate bank details
  • Platform: Web
  • Interest: purpose of the actual quantity of loan and its particular tenure.
  • Loan tenure: 1 to 12 months
  • Multiple loans at time: Yes
  • Repayment channel: month-to-month loan repayments are deducted from wage

SnapCredit functions as a medium for companies that do n’t need to offer direct loans to their workers, by giving workers with access immediately to cash without any documents.

One outstanding function of SnapCredit is you take another loan even with a running loan that it allows. Nevertheless, you can’t borrow away from borrowing limit.

  • Demands: Perform ID card, legitimate bank details
  • Platform: Web
  • Interest: 5.6% – 24%
  • Loan tenure: 7 to thirty day period
  • Numerous loans at a right time: No
  • Repayment channel: Debit card, direct deposit

KiaKia makes usage of a chatbot which takes you through the entire process of enrollment along with other tasks towards having your loans that are personal. You’ll want work identification card just before can access a loan on Kiakia. You may also decide to register being a loan provider.

  • Demands: Valid bank details, valid ID card, and bank statements
  • Platform: Web
  • Interest: 9% – 39%
  • Loan tenure: 2 – 12 months
  • Numerous loans at a right time: No
  • Repayment channel: Debit card, direct deposit

FINT is more of a marketplace that fits loan providers with creditworthy borrowers. The amount that is minimum of loans provided is ?60,000 in addition to rate of interest is founded on borrower’s risk rating.

  • Demands: real papers, legitimate bank details
  • Platform: Web
  • Interest: 4 above and
  • Loan tenure: 1 to 9 months
  • Numerous loans at a right time: No
  • Repayment channel: Debit card, direct deposit

C24 offers collateral-free unsecured loans but application calls for you publishing some papers at their office or having them select it from yours. Papers needed include way of nationwide identification, evidence of work, direct debit mandate, post-dated cheques, bank declaration and a passport picture.

  • Needs: Valid bank details
  • Platform: Web, Android
  • Rate of interest: 7.5% to 58percent
  • Loan Tenure: 1 to 12 months
  • Numerous loans at a right time: No
  • Repayment channel: Cheques, direct debit/deposit

Zedvance provides both salary and nano loans. The nano loan does not need documentation that is much the income loan requires evidence of work, way of recognition and household bill.

Loan tenure may be as much as eighteen months when it comes to wage account.

  • Demands: A Facebook Account, BVN and bank that is valid
  • Platform: Android
  • Rate of interest: 20%
  • Month loan tenure: One
  • Numerous loans at a right time: No
  • Repayment stations: Debit card, auto-debit, guaranteedinstallmentloans.com review mobile banking application.

Branch makes use of some all about your phone to help make financing decisions. This includes device details, SMS logs, phone logs and contact list. Loans on Branch are paid back in four weekly instalments.

Sharp Sharp by Credit Direct

  • Demands: No guarantor, real papers, individual bank details
  • Platform: Web
  • Rate of interest: 3.4% monthly
  • Loan tenure: One thirty days and beyond
  • Numerous loans at a right time: No
  • Repayment channel: Direct debit

Sharp Sharp provides unsecured loans to both income earners and business owners. Loan tenure could be as much as year. Additionally provides loans to young salaried workers when you look at the sector that is private well as those on the nationwide youth solution 12 months.


  • Needs: Facebook account, legitimate and active contact number, bank details and income source
  • Platform: Android
  • Interest: 1% daily
  • Loan tenure: 5 to thirty days
  • Numerous loans at time: No
  • Repayment channel: Debit Card, Direct Deposit

Trying to get a loan on QuickCheck need that you have got a revenue stream, also choosing work status choices like student, unemployed or resigned as your work status. And loan that is aside accessing phone airtime can be bought utilising the application.


  • Needs: national authorized ID card, staff ID and wage account by having a commercial bank in Nigeria
  • Platform: Android
  • Rate Of Interest: 28% – 31%
  • Loan tenure: A Month
  • Numerous loans at time: No
  • Repayment channel: Direct Debit

To access loan from PayConnect, you should be a worker of the vetted organization with that you simply need been using for for around six months. You’ll want to provide a few months declaration of account and you also will likewise require the approval of one’s manager to get into the mortgage.

  • Demands: Facebook account, bank details and evidence of work
  • Platform: Android
  • Rate of interest: 20-30%
  • Month Loan Tenure: one
  • Numerous loan at time: No
  • Repayment channel: Direct debit

To gain access to loan center on FairMoney, you must upload a selfie showing you holding an ID card. Other needs consist of page of company or employment details for self-employed. There’s a ?50 fee to confirm the debit card associated with connected account. In addition, you give information on the next of kin.

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