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

Accessing signature loans has had a various measurement with a handful of companies supplying collateral-free loans without the necessity a evidence of work if not a see up to a banking hallway for a few documents.

The repayment duration for those ranges from week or two to half a year, with respect to the providers. The utmost amount you can access initially is based on the supplied information, and asked for funds are transmitted almost straight away.

Listed here are a few of the providers of these signature loans in no specific other.

  • Needs: Valid bank details and BVN
  • Platform: Android
  • Rate of interest: 5% to 30per cent, depending on credit score
  • Loan tenure: 15 times to six months
  • Numerous loans at time: No
  • Repayment stations: Debit Card, Quickteller and direct transfer

To get into unsecured loans from Paylater, all that’s necessary can be an Android os unit, information connection and legitimate bank details. Paylater claims that users that repay on-time gain access to a greater credit limitations. There is certainly a validation fee of ? 100 in the initial loan.

KwikCash by 9mobile

  • Demands: a number that is mobile legitimate bank details
  • Platform: USSD (*561#), internet
  • Interest: 10 – 20%
  • Loan tenure: 2 weeks
  • Numerous loans at a right time: No
  • Repayment channels: ATM, debit card, USSD and direct transfer/deposit

The complete means of borrowing starts and comes to an end with *561#, for a line that is 9mobile. The service is just available to other companies through the net platform.

You have access to as much as ?100, 000 and the loan is got by you within three minutes. If you are wondering what the results are once you port to some other system, you are able to elect to spend making use of some of the payment that is available. There is certainly a community cost of ?20 per loan on 9mobile system.

Aella Credit

  • Demands: Valid bank details, BVN and manager enrollment (for in-network loans)
  • Platform: Android
  • Rate of interest: 20% – 27% for away from system loan
  • Loan tenure: A Month
  • 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 people whose business just isn’t registered. The in-network option guarantees greater loan quantities at reduced interest levels.

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


  • Needs: company enrollment, legitimate bank details
  • Platform: Web
  • Interest: purpose of the total amount of loan as well as its tenure.
  • Loan tenure: 1 to 12 months
  • Multiple loans at a right time: Yes
  • Repayment channel: month-to-month loan repayments are deducted from income

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

One outstanding function of SnapCredit is you take another loan even with a running loan that it allows. Nonetheless, 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 thirty days
  • Numerous loans at time: No
  • Repayment channel: Debit card, direct deposit

KiaKia makes utilization of a chatbot that goes through the entire process of enrollment along with other tasks towards getting the loans that are personal. You’ll want an ongoing work identification card if your wanting to have access to a loan on Kiakia. You’ll be able to decide to register as a lender.

  • Demands: Valid bank details, legitimate 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 plus the rate of interest is founded on borrower’s risk rating.

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

C24 offers collateral-free loans that are personal application requires you publishing some papers at their workplace or having them choose it from yours. Papers required include method of nationwide identification, evidence of work, direct debit mandate, post-dated cheques, bank declaration and a passport picture.

  • Demands: 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 both salary and nano loans. The nano loan does not need much paperwork while the income loan requires evidence of work, method of recognition and household bill.

Loan tenure could be as much as 1. 5 years when it comes to income account.

  • Needs: A Facebook Account, BVN and bank that is valid
  • Platform: Android
  • Rate of interest: 20%
  • Month loan tenure: One
  • Numerous loans at time: No
  • Repayment networks: Debit card, auto-debit, mobile banking software.

Branch makes usage of some given all about your phone to create financing decisions. Including device details, SMS logs, phone logs and contact list. Loans on Branch are paid back in four regular instalments.

Sharp Sharp by Credit Direct

  • Needs: 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 time: No
  • Repayment channel: Direct debit

Sharp Sharp provides loans that are personal both income earners and business owners. Loan tenure may be as much as one year. In addition it provides loans to young salaried workers when you look at the private sector since well as those to their nationwide youth service 12 months.


  • Needs: Facebook account, valid and active telephone number, bank details and income source
  • Platform: Android
  • Rate of interest: 1% daily
  • Loan tenure: 5 to 1 month
  • Numerous loans at a right time: No
  • Repayment channel: Debit Card, Direct Deposit

Trying to get that loan on QuickCheck require that you’ve got an income source, also choosing employment status choices like student, unemployed or resigned as the work status. And apart accessing loan, phone airtime can certainly be bought utilizing the software.


  • Needs: national authorized ID card, staff ID and income 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 get into loan from PayConnect, you need to be a worker of a vetted organization with which you should have been dealing with for no less than half a year. You will need to present a few months declaration of account and also you will likewise require the approval of one’s company to gain access to the mortgage.

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

To get into loan center on FairMoney, you must upload a selfie showing you holding an ID card. Other demands 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. You give information on the next of kin.

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