10 Places To Get Loan In Nigeria Without Collateral

If there’s anything you need money to do, maybe a business but you don’t have enough money? In this article, I’ll show you places to get a loan in Nigeria without collateral.

There will not be any money excuses for not starting a business of your choice after reading this post.

Please, note that starting a business with a loan is not a bad idea, provided you have a business plan.

Many successful people in Nigeria, such as Dangote, Tony Elumelu, Atiku, and so on started by taking loans from banks and other money lending platforms.

If you are interested to start a car wash business in Nigeria, but you don’t have money to equipment. You can take a loan, and then repay from the money you will get from the work.

Don’t wait until you get money to start a business when you can get quick loan to achieve same goal.

However, getting loans approval from Banks has not been easy because of their operational protocols.

But there are other available platforms that can give you better deals. These companies are also referred as money lending companies.

The money lending companies I’m about to show you are the top in Nigeria, and some of them offer timely, easy and low interest rates loans with no collateral. Unlike traditional banks that give loans with a very high interest rates.

Today, in Nigeria, assessing loans has taken a different shape as one can easily get a quick loan via online without collateral, paper-works or visiting of Banks.

The repayment period ranges from 14 days to 12 months depending on the loan providers.

Below are top money lending companies to get quick and easy loan in Nigeria with very low interest rate.

Also Read:  How to Access CBN Loan for Businesses in Nigeria

10 Places To Get Quick Loan In Nigeria Without Collateral

1. Paylater

Paylater is one of the top quick online money lending companies in Nigeria.

It also offer short term loans without collateral, and you can get a loan from N500k to N1million at an interest rate ranging from 5 to 12%.

Requirements: BVN, account details, passport photograph and address.

Interest rate: 5 to 15% depending on risk level.

Loan duration: 3 to 12 months.

Repayment channels: Direct debit from any of your accounts.

2. OneFi Business Loans

The mission of OneFi is to provide loans to individuals who have limited access to finance their businesses.

3. Renmoney

Renmoney is another platform in Nigeria where you can get a loan of up to N4million without collateral.


  • Applicants must be between the age of 22 to 59 years.
  • Must have a steady source of income
  • Functional bank account either current or savings
  • BVN
  • Official bank statement of account 
  • Valide Govt Issued ID card.

All requirements are to be submitted to Renmoney office for verifications.

Interest rate: 4 to 5% per month.

Loan duration: 3 to 12 months

Repayment method: Quickteller, POS, Cash, Cheque and transfer.

Also Read:  CBN Promises Seven Years Loans For NYSC Members

4. Aella Credit

Aella Credit is another platform in Nigeria where you can get loan, it is app-only.

You can access loan from N1,500 to N700,000 with an interest rate ranging from 4 to 29% per month depending on the risk level.

Aella credit is available in Nigeria, Ghana and Philippines.

Requirements: BVN

Platform: Android

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Interest rate: 4 to 29%

Loan duration: 1 to 2 months

Repayment method: Direct debit from your account.

5. Kwik Cash

Kwik cash is one the top loan providers in Nigeria. It offers both online and USSD loan options.

Kwik partners with Banks, mobile network providers and technology companies to make loan accessible to all Nigerians.

At Kwik cash, you can get a loan of up to N15,000.


  • BVN
  • 9mobile line

Platform: USSD (*561#)

Interest rate: 10 to 20%

Loan duration: one month.

Repayment channels: Direct debit.

The borrowing process starts by dialing *561# from 9mobile line.

6. KiaKia

KiaKia is one of the quick loan providers in Nigeria.

They platform provide quick loans to borrowers within 1 hour of completing their online loan application.

Requirements: Work ID Card, valid bank details.

Platform: Web

Interest rate: 5 to 24%

Loan duration: 30 days

Repayment channels: Debit card, direct deposit


Fint is a money lending platform with creditworthy borrowers for a competitive return at a cheap interest rate.

Requirements: BVN,

Platform: Web

Interest rate: 3 to 5%

Loan duration: 12 months

Repayment: Debit card, direct deposit

8. Zedvance

Zedvance provides a quick and fast loan an attractive interest rates, though the interest rate on the level of risk involved.

It is most suitable for salary earners.


  • Employment letter
  • Salary account
  • Official email address
  • Valid ID

Platform: Web

Interest rate: 4 to 5%

Loan duration: 3 to 12 months

Top up: yes

Repayment channels: Direct debit

9. Page Financial

Page Financial offers quick loan to meet their customers financial needs.


  • Employment letter
  • Salary account
  • Valid ID card
  • Utility bill

Platform: Web

Interest rate: up to 15%

Top up: Yes

10. Rosabon Finance

Rosabon finance is one loan provides platform in Nigeria that offers loan without collateral.


  • Employment letter
  • Salary account
  • Tax ID
  • Valid ID
  • Utility bill 

Platform: Web

Interest rate: 4 to 6%

Loan duration: 3 to 12 months

Top up: No

Requirements channel: Cheque, Direct debit

Also Read:  How To Apply For NYSC Business Loan (2022)

The Author


Humphery is a seasoned internet entrepreneur and a life coach. He has been the Nyscinfo ambassador since 2017. He is knowledgeable enough to guide you. Keep following this website for updates, we love you!


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