Where you might get collateral-free loans that are personal in Nigeria

Accessing signature loans has brought a various measurement with a handful of companies offering collateral-free loans without the necessity an evidence of work and even a check out up to a banking hallway for many documents.

The payment duration of these ranges from week or two to six months, with respect to the providers. The utmost amount you can access initially is based on the supplied information, and asked for funds are moved very nearly instantly.

Listed here are some of the providers of these unsecured loans in no specific other.

  • Demands: Valid bank details and BVN
  • Platform: Android
  • Rate of interest: 5% to 30per cent, based on credit score
  • Loan tenure: 15 times to half a year
  • 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 fee of ? 100 in the loan that is initial.

KwikCash by 9mobile

  • Demands: a number that is mobile legitimate bank details
  • Platform: USSD (*561#), internet
  • Rate of interest: 10 – 20%
  • Loan tenure: fourteen days
  • Multiple loans at a right time: No
  • Repayment stations: ATM, debit card, USSD and transfer/deposit that is direct

The whole means of borrowing starts and concludes with *561#, for a 9mobile line. The solution is just available to other systems through the internet platform.

You have access to as much as ?100, 000 and you obtain the mortgage within three minutes. Should you be wondering what goes on once you port to a different system, you are able to decide to spend making use of any of the available repayment networks. There is certainly a system cost of ?20 per loan on 9mobile system.

Aella Credit

  • Demands: Valid bank details, BVN and company enrollment (for in-network loans)
  • Platform: Android
  • 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 choices: in-network — for users whoever business is registered in the platform — and out-of-network, that caters for individuals whoever business just isn’t registered. The in-network option guarantees greater loan quantities at reduced rates of interest.

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


  • Demands: Employer registration, valid bank details
  • Platform: Web
  • Interest: purpose of the actual quantity of loan and its own tenure.
  • Loan tenure: 1 to 12 months
  • Numerous loans at a right 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 staff, by giving workers with immediate access to cash without any paperwork.

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

  • Demands: Perform ID card, legitimate bank details
  • Platform: Web
  • Rate of interest: 5.6% – 24%
  • Loan tenure: 7 to 1 month
  • Multiple loans at a right time: No
  • Repayment channel: Debit card, direct deposit

KiaKia makes utilization of a chatbot which goes through the entire process of enrollment along with other activities towards getting the loans that are personal. You’ll want an ongoing work identification card just before can access a loan on Kiakia. You may decide to register being a loan provider.

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

FINT is much more of a marketplace that matches lenders with creditworthy borrowers. The minimal quantity of personal loans provided is ?60,000 as well as the rate of interest is dependant on borrower’s risk score.

  • Demands: real papers, legitimate bank details
  • Platform: Web
  • Rate of 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 choose it up from yours. Papers needed include method 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 58per cent
  • Loan Tenure: 1 to 12 months
  • Numerous loans at a right time: No
  • Repayment channel: Cheques, direct debit/deposit

Zedvance provides guaranteedinstallmentloans.com reviews both salary and nano loans. The nano loan does not need documentation that is much the wage loan requires evidence of work, way of identification and domestic bill.

Loan tenure may be as much as 18 months for the income account.

  • Requirements: A Facebook Account, BVN and bank that is valid
  • Platform: Android
  • Rate of interest: 20%
  • Loan tenure: 30 Days
  • Multiple loans at a right time: No
  • Repayment networks: Debit card, auto-debit, mobile banking application.

Branch makes usage of some given information about your phone to create financing decisions. This includes handset details, SMS logs, phone logs and contact list. Loans on Branch are paid back in four regular 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 and beyond month
  • Numerous loans at time: No
  • Repayment channel: Direct debit

Sharp Sharp provides loans that are personal both wage earners and business owners. Loan tenure could be as much as year. In addition it provides loans to young salaried workers into the sector that is private well as those on the nationwide youth solution 12 months.


  • Needs: Facebook account, legitimate and active telephone number, bank details and revenue stream
  • Platform: Android
  • Rate of interest: 1% daily
  • Loan tenure: 5 to thirty day period
  • Multiple loans at a right time: No
  • Repayment channel: Debit Card, Direct Deposit

Obtaining that loan on QuickCheck need that you have got a income source, also picking work status choices like student, unemployed or resigned as the work status. And loan that is aside accessing phone airtime can be bought making use of the software.


  • Demands: Government authorized ID card, staff ID and income account with a bank that is commercial Nigeria
  • Platform: Android
  • Rate Of Interest: 28% – 31%
  • Month loan tenure: One
  • Numerous loans at a right time: No
  • Repayment channel: Direct Debit

To gain access to loan from PayConnect, you should be a worker of a vetted organization with that you simply should have been using the services of for no less than six months. You’ll want to provide a couple of months declaration of account and also you will likewise require the approval of the manager to gain access to the mortgage.

  • Needs: 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 need to upload a selfie showing you holding an ID card. Other demands consist of letter of company or employment details for self-employed. There’s a ?50 fee to confirm the debit card associated with connected account. You give information on your following of kin.

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