21 Instant Loan App In Nigeria without Collateral

Loans app without collateral

How to get quick and instant loan in Nigeria without collateral

Hello guys, welcome to my fintech blog. In this article, I will share with you 21 instant loan app in Nigeria without collateral. But before I dive into the primary reason of this post, Let me share quickly with you my last post on Loan, 12 best loan app in Nigeria.
Here are what I’m going to share with you👇, you can check the table of content at the right corner of the screen to select content you maybe wish to read.

What is Loan?

What does it means to get a quick and instant Loan without collateral in Nigeria?

21 instant loan app without collateral in Nigeria

Here are 21 instant loan app in Nigeria without collateral👇

  • Renmoney
  • Branch
  • Aella credit
  • FairMoney
  • Migo[Kwikmoney]
  • KiaKia
  • QuickCheck
  • Specta Loan
  • Jumai Loan
  • OPay loan
  • Carbon loan
  • palm credit loan
  • Zedvance loan
  • Lydia loan

Here are the top 21 list of instant loan app without collateral👇

  • Grofin
  • ONE-FI
  • C24 loan
  • Fast Credit loan
  • Fint loan
  • Social Lender

What is a Loan?

A loan is a borrowed money that is expected to be back with interest. It could also be a properties, cars and computers. Loan terms are agreed by both parties before before any money is advanced.
A loan maybe secured by collateral such as mortgage or unsecured such as a credit cards. Loan comes in many forms such as; secured, unsecured, commercial and personal loans.

What does it means to get a quick and instant loan without collateral in Nigeria.

Getting a collateral loan in Nigeria simply means you don’t have to offer any assets before you could be borrowed money. This loan is unsecured, and the lender doesn’t have any asset to fall back upon in case of any default that occur in future.
Collateral loan is borrowed when you are in need of urgent funds, maybe, you need money for unexpected expenses such as medical treatment and car repairs, you might consider getting an instant collateral loan. Loan for such expenses is actually refers to as personal loan.

21 instant loan app without collateral in Nigeria

Like I said in the beginning of this post, I’m going to share with you the best 21 loans app in Nigeria to get quick and instant loan without collateral.

Here are the 21 instant loan app without collateral in Nigeria

1. Renmoney loan app

Renmoney is a financial company in Nigeria that offers personal and business loan. They also offers customer unsecured instant loan. The loan are available for salaries earner and self-employed as long as they can provide a verifiable source of income.
The financial company also offers features like savings and investment services.
Before you could get a renmoney loan, you must pass their eligibility stages;
  • You must be 22 – 59 years old. Any age below or above are not eligible.
  • Have a verifiable and steady source of income
  • Have a functional current or saving bank account
  • Must possessed a National ID card such as International passport, National ID Card and Driver’s license.
  • Salary bank statement [for salary earners]
  • Utility bills [it maybe NEPA bill, water cooperation bill or rent agreement].

How To Get/Apply-For A Quick Loan From Renmoney Loan

  • Visit the website or use renmoney loan app to apply for the loan
  • Complete the online loan application form
  • Upload your required documents
  • If you get approved, you’ll get your money in your bank account within 24hrs.

2. Branch loan app

Branch is a personal finance app that provides instant and quick loan with no collateral needed. Their minimum loan amount is NGN1,500 and maximum of NGN150,000 for new customers.
Branch Loan Eligibility Requirements
  • Phone number or
  • Facebook account
  • Bank verification number (BVN)
  • Bank account Number.

How To Get Or Apply For Branch Loan

Follow the below steps to get instant online loan from branch.
  • First and foremost, download branch loan app from Google play store or app store.
  • Open and create account. Fill out your details correctly to avoid delay.
  • Find out your eligibility loan status.
  • When your account get approved, you’ll receive your money in your bank account in less than 24hrs.

3. Aella credit loan app

Aella is an online loan platform that eliminate the hassles of standard loan application and enables employee to borrow at competitive and fair rates through their employees.
Aella credit is a finance platform that makes it easy and simple for individual in Africa, especially Nigerians, to gain access to financing. The platform mainly focused on employee lending and empowerment.
Aella credit partner with three main credit bureau agencies in Nigeria to provide quick and affordable loans with no paper work to its customers.
Aella credits determine loan limit to lend her customer by proprietary credits score algorithm. They have a monthly interest rate ranging from 4% to 29% with a loan payback time of 30 to 60 days.
Download Aella  credit app from Google play store to get starteapp

4. Fair money loan app

Is the next on the list of instant loan app in Nigeria without collateral. Fair money loan cover short term loan to solve urgently financial problems. All you need to do is download the loan app on Google paly store, read and accept the terms and conditions attached to it, then apply for loan. repayment occur between a period of 15days to 1month.
Fair money offer packages like business loan, Personal loan, Education loan and other loans.
According to Fair money loan, ”with the effective use of technology, we’re able to provide a speedy and efficient loan app to all our esteemed customers”.
Aside from lending out  loan, fair money also offer airtime top up, paying of utilities bills, buying of data services on their app.

5. Migo [kwikmoney] loan app

Kwik money loan also known as Migo is among the best loan app in Nigeria without collateral. Its sort out financial needs of individual by lending out loans. Kwik money lend out loans in two different ways, but before that, you will need to create account with your smart phone and your sim card that is registered with your bank account.
Here are the two methods to get Kwik money loan
#Method 1
  1. Dial *5561# on your mobile phone
  2. Select ”loan” then ”request loan”
  3. Select the loan amount you wish to required
  4. Enter your bank details
Then, after some minutes, you will be credited.
#Method 2
  1. Visis https://kwikmoney.com
  2. Input your phone number in the text box and verify it
  3. click ”check loan offer ” from the drop down menu
  4. Select the loan offer that suit your needs in the list offers displayed
  5. Enter your bank details and you will be credited within minutes.
In KwikMoney loan, all loans are payable within 14 days.

6. Kia-kia loan

Kiakia loan mobile web is the most interesting part among all, why did I say that? Kiakia loan app allow savers to lend out of their funds at a negotiated interest rate through conversations with one of their agent. And Kia Kia is a yoruba terms which simply means quick and fast.
With Kiakia, you can access a personal and small business loan.
Kiakia implement psychometry, big data, machine learning and digital forensics for it proprietary credit scoring and credit risk assessment algorithm to provide direct and peered personal and business loans to millions of individuals and SMEs with no credit info.
Kia Kia allow its user to borrow N10,000 to N200,000 limit whit the interest rate ranging from 5.6% to 24% depending on your credit score and the duration of the loan. All loan payback time are between 7 to 30 days.

7. Quick Check loan app

Quick check is a digital financial service that aim to offers quick and instant loan without collateral to help its user get closer to their personal and business goal.

How To Apply and Get Quick Check Loan Instantly.

  • Download quick check loan app and create a profile with them.
  • Apply for loan and submit required documents.
  • After your submission, quick check will instantly run credit score and let machine learning decides if you’re qualify.
  • If you’re qualify, you’ll get cash in your bank account within 24  hrs.
In quick check loan app, Machine learning decides if you’re qualify to get a loan. So, when paying back your loan, make sure you have a stable and flowing payback because this will decide how machine learning will rank you and get a better loan next time you apply for another loan.

8. Specta loan app

Specta is an online lending platform that gives you loans of up to 5 Million in one transaction all within 5 minutes! No collateral, no paperwork and no visit to any office. 

With Specta, you can take care of urgent personal and business needs anywhere, anytime.
Specta is a sterling bank digital lending platform created with the aim to provide urgent loan for personal and business uses.

How To Apply and Get Specta loan

  • Fill form on specta website with Nuban and BVN
  • complete and submit a loan application form.
You’ll get cash in your bank account within 24hrs after your applications is accepted.

9. Jumia loan app

Jumia pay loan is a quick cash loan that can be access on JumiaPay app. All you have to do is download the app on Google play store, go to finance section on the app, fill in your details and request for loan without colleteral. 

10. OPay loan app

OPay loan also known as OKash loan Okash loan app is a platform that is the best place to access cash loans within a few minutes with no collateral needed.

How To Apply And Get Okash Loan

  • First and foremost, download Okash loan App at Google play store
  • Open and create account
  • Agree to their terms and conditions
  • Apply for loan and get cash into your bank account within 24hrs
Note – If you’re applying for the first time, you may face loan limitations, like newbies will have access to loan starting from NGN3,000 to NGN30,000.

11. Carbon loan app

Carbon loan is formally known as Pay later loan, its simple and affordable, entirely online lending platform that provide short term loan to it users. Pay later is fast loan lending platform, it provide quick loan to it user to help cover unexpected expenses or urgently cash needed.
At Pay later, you can get N500,000 loan without collateral, once your application is approved. loan is pay with in 1 to 3 business day, and when you are honest with paying back the loan, that will grant your access to request for more higher loan.
Carbon loan app[Pay later] currently offer two loan packages:
  1.  Pay later loan for individual
  2.  Pay later loan for salary earners
Carbon loan app also offer products like airtime top up, paying of utilities bills and other services on their app.
You can get the carbon app [Pay later] on Google play store or visit their website for more info about them.

12. Palm credit loan app

Palm credit is a loan app in Nigeria that provide easy and quick loan to its user on the app. Palm credit loan is available for those that are 18 years and above, with the loan range of N2,000 to N100,000.
With palm credit, getting a mobile app loan is simple and easy, all you have to do is download the palm credit app on Google play store, Fill in your correct details, you can sign up using your facebook account or mobile number, and complete the registration to apply for loan. 

13. Zedvance loan app

Zedvance loan is a financial institution in Lagos that aim to provide easy and instant unsecured loan without collateral.
How To Apply And Get Zedvance Loan
  1. Create an account through their website, Moneypal [mobile app] or by chatting with zee on WhatsApp.
  2. Select the loan package that suit your needs.
  3. Submit some necessary documents
  4. Receive cash in your bank account in less than 10mins.
Zedvance Loan Package
Here are the loan package Zedvance offers
  1. Zedvance nano – this is a type of loan for personal use. It will be deposited directly into your bank account.
  2. Zedvance payroll – this is for salary earners. You’ll be able to borrow 5 million Naira and pay back in up to 18 months.
  3. Zedvance for business – loan for SMEs and entrepreneur looking to take their businesses to the forefront of the market.

14. Lydia loan app

Lydia loan is a financial company that provides business Loan Package instantly in your bank account and with out collateral.
How To Apply And Get Lydia Loan
Get access to Lydia loan in 3 easy steps
  1. Create and complete your profile in 5 minutes
  2. Select loan type and apply for loan
  3. Get loan in your bank account in less than 24hrs after approval.

Here are the top 21 list of instant loan app without collateral

15. SMEDAN loan app
16. Grofin loan app
17. ONE-FI loan app
18. C24 loan app
19. Fast credit loan app
20. Fint loan app
21. Social lender loan app


Getting easy, quick and instant loan in Nigeria without collateral has been a very good way to safe some business and home financially. Many businesses might has fall due to long processing of loan and lots of paper works. But thanks to some financial institutions that offers unsecured loan for individuals.

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