17 Places to Access Collateral Free Personal Loans Online in Nigeria


In Nigeria, people attempt to access personal loans for different reasons. Many might do that to acquire a new property, children school fees, medical or utility bills etc. Whichever case may be, an emergency loan is sometimes inevitable. However, to access bank loan without collateral in Nigeria is very difficult and tend to limit individuals from handling emergencies. The opportunity to access quick loans is limitless after all.

A lot of people look for numerous ways they can borrow money online instantly in Nigeria to no avail with adequate solutions from Nigerian banks. This isn’t their fault nor the fault of any bank.

Banks normally will go through the process of mortgages whereby a company or individual will have to provide an asset to acquire a loan call secured loan whereby if the borrower default to pay back within the official time based on the terms and conditions or loan tenure, the asset becomes the bank’s property.

However, an emergency online loan is referred to as unsecured loans and do not require any asset to access them. These kinds of loans are issued based on creditworthiness and majority might be denied access due to credit scores from data collected from banks, money lenders bureau, Facebook Profile Standard and mobile carrier networks such as MTN, Airtel, Glo, 9mobile.

How Much Can I Borrow with a Collateral Free Personal Loan?

There’s no fixed amount you can borrow. It depends on the lending company and its policies and your credit scores. Some lenders might borrow you from N5000 and increase it every time as you continue to build your credit score to a maximum of N1m.

However, when it gets to a larger amount, you might be required to provide additional information and an asset to back up your loan.

What Are The Requirements to Access Personal Loans Online?

Anyone within the ages of 18 years and above can access a personal loan online. However, depending on the lending company, most loans might require you to pledge any asset to get a loan above N500k to N5m. Most of them have a low-interest rate ranging from 5% – 50%. It’s required of you to personally review all before committing to receive a loan.

17 Providers of Collateral Free Personal Loans Online in Nigeria and Interest Rates

Here’s the updated list of all the 21 providers of quick online loans in Nigeria, their requirements, interest rates, minimum amounts and platforms they operate.

Where to access collataral free online loans Nigeria

Okash (Opay, Operamini)

Okash by Operamin recently launched in Nigeria and has taken over the industry of mobile money lending. The platform provides users with instant cash loans from as low as N3000 to a maximum of N30,000 for the first time and increases it substantially as you repay and upload other documents fo KYC’s purpose.

You can access their loan by downloading their mobile App from Play or Appstore and signing up with your mobile number. Their interest rate starts from as low as 9% and loan duration from 60 – 365 days.

RentMoney Loan

Rentmoney quik Loan

Rent Money provides personal and business loans within 24 hours of application. the repayment tenure is from 3 months to 24 months and interest rates of about 36.7%. Borrow up to N6m with rent money. For More

Credit Direct NG

Credit direct is one of the most reliable platforms to access a quick and emergency personal loan. The platform has helped many and tends to provide the lowest interest rates on loans ranging from 3% to as high as 15%. You can get started by accessing it’s web platform right away.

Branch International

Branch Quick Loans for the way you live

Branch International uses an Android App to provide quick loans to individuals and businesses from as high as N200,000 using BVN and Facebook Profile Page as requirements. It offers a wide range of interest policies from 3% – 21% for 1 Month tenure loan and 33% – 261% for 4 – 40 weeks tenure loan. For more info, visit branch how it works.

Zedvance Limited

Zedvance offers an exceptional quick money lending facility for individuals seeking to satisfy their emerging issues. They deliver your loan amount to your bank account within 10 minutes of request after answering a few questions. It offers the lowest interest rates so far. You can access salary earner’s loan or normal loan and also, SME’s Loan is also on its way and it operates on both Android App and website. More info.

Paylater (Carbon)

Paylater recently rebranded to become Carbon and it’s one of the popular collateral free money lending providers in Nigeria. It makes the process seamless by collecting your credit/debit card information with an initial debit of N100 for validation purpose and the same card can be used to repay after the loan tenure. You can borrow from N5000 and above with interest rate from as low as 5% via their Android and iOS Application.

Kiakia Loan

To apply for a loan via Kiakia, you have to chat with Mr K, a Chatbot developed to attend to your needs by requesting all the information necessary to process your loan application process. Did I forget to mention that Kiakia is a Peer to Peer loan platform which means you can either be a lender or a borrower in the platform. To get started, visit =>https://kiakia.co/ for more info.

Fint Technology Africa

In my opinion, this is my second choice after Zedvance for loans. And just like Kiakia, the platform provides you with the opportunity to invest by lending or become a debtor by borrowing. Both options have interest rates from 2.5% upward and you can borrow up to a billion Naira for SMEs. for info visit => https://www.fint.ng/borrow.

Jumia One (JumiaPay)

Jumia One now referred to as JumiaPay is another quickest way to get access to a collateral free loan in Nigeria by just providing your Valid bank details, BVN number, Android Phone and Complete application process. It offers payday loan with an interest rate as from 28%-38%. The platform offers a maximum borrowing amount of N10,000 for new borrowers and increases it along with your credit score record. To get started, download their app on Android PlayStore.


QuickCredit is another best option to access emergency micro-loans for short- terms duration to help meet and cover unexpected expenses and urgent cash needs. You can borrow from as low as N10,000 to a maximum of N50,000 and repay within a maximum of 31 days with an interest rate as high as 30%. Note: don’t confuse this to GTB’s QuickCredit which requires you to operate a bank account with them for up to 12 months. To access this => https://quickcredit.com.ng/


This is another platform that provides money lending scheme to individuals for a total duration up to 6 months with a requirement of Bank Verification Number (BVN), Age restriction from 18+ and a bank account. It offers competitive interest rates from as low as 4%-4.7%.

QuickBucks by Access Bank

According to reviews, this has been a lifesaver for many. Access Bank created this platform to help employed and self-employed individuals access emergency loan as quick as possible with very competitive interest rates. It offers Payday Loan, Salary Advance, Small Ticket Personal Loan and Device Financing in case you intend to purchase a new gadget like a mobile phone. It operates in the iOS and Android App.


This is another platform to acquire a larger amount in the loan as high as N200k to N5m within 3 hours and pay interest as low as 2.99% to 5% and maximum duration of up to 12 months. Page Financials operates on both AndroidiOS and Web.


Sokoloan is incredibly a good source to access emergency loan quick from your mobile app by download the company’s official mobile app from Android PlayStore and starting the loan application process. It’s quick easy and fast with interest rates up to 34%.

Aella Credit

Borrow fast with Aella and pay quickly to gain the opportunity for the larger credit amount. The good thing about Aella is that it offers 5 minutes loan from as low as N2000 to as high as N1m with no interest rate on late/rollover repayment and interest rate of about 6-20% on 1-3 months loan tenure.

C24 NG Quick Loan

I won’t say this is a quick loan platform like same day loan offering but it’s also a good option when seeking personal emergency loan without collateral. It maximum tenure for borrowing is around 9 months and interest rates are around 4%. Also, physical documents are required before disbursement. More => https://c24ng.com/.

FairMoney Loan App

Fairmoney quick Loan

Fair Money has been recognized for a long time as a reliable source for quick money lending and it’s supporting individuals with emergency challenges to solve their problems on the go and payback later. In 5 minutes, FairMoney can borrow you up to N500k with an interest rate from 10% – 30% without collateral. It operates on an Android Application which enables you to also buy Airtime and Data Bundles.



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