Banks Giving Instant Loans Without Collateral in Nigeria

Putting up the title “bank instant loans without collateral in Nigeria” would have appeared ludicrous a few years ago. After a few years, we can reliably construct a list of conventional Nigerian banks who offer this service. This is in recognition of other Nigerian loan groups.

The lending business is dominated by financial technology companies in particular. Traditional banks, it appears, have recognized the need to modify the narrative.

Banks Giving Instant Loans Without Collateral in Nigeria

Here are some of Nigeria’s top banks that provide loans with no collateral:

  • Auto Loan
  • Salary Top-Up Loan
  • Fastcash Loan
  • Premium Salary Loan


FCMB continues to provide great services to its customers as one of Nigeria’s premier financial institutions. The following loans are available from FCMB without the need for collateral:

The FCMB FastCash Loan is a no-collateral loan that may be obtained by dialing the USSD code *329#.

2. WEMA Bank

Having a Salary Current or Savings Account makes it easier to get a loan from WEMA Bank without putting up any collateral. The maximum loan amount is seven times the net monthly salary, with a cap of N2 million. Only confirmed employees are eligible for the Wema loan, which has a 48-hour loan disbursement period.

3. Stanbic IBTC

Another Nigerian bank that offers corporate and personal loans is the Standard Bank Group’s affiliate. This is one of the few banks in Nigeria that would provide you a loan without requiring you to have a salary account. The repayment period ranges from one to five years. Payment is done in monthly installments during this time.

4. Zenith Bank

SME Loans, Overdrafts, Receivable Discounting or Invoice Discounting, LPO Finance, Import Finance Facility, Export Finance Facility, Term Loan, Lease, Bonds & Guarantee, and Retail Loans for Schemes are all available through Zenith Bank.

Borrowing clients, for example, can use the Local Purchase Order [LPO] to finance the delivery of materials. Overdrafts, on the other hand, provide the borrower with a credit balance in their current account that is more than their credit balance. This is set to a specific tenor, which is usually not more than twelve months. All of these are available to you without the necessity for collateral from the bank.

5. Fidelity Bank

To gain a foothold in the retail banking market, the SME-friendly bank has won a slew of honors and accolades. The Fidelity Easy Asset Leasing Scheme [FEALS] is a commercial and personal financing program offered by Fidelity Bank. Customers can use FEALS to purchase household appliances, brand new vehicles, generators, inverters, computers, and other items.

It has a minimal minimum contribution of 20% and a 48-hour approval time.

6. First Bank of Nigeria

With over 10 million active customer accounts, Nigeria’s largest commercial bank is well-known. It offers customers and investors across Africa a wide range of retail and business financial services.

Private school operators who require more finances for effectiveness can apply for a FirstEdu loan from FirstBank. It has a maximum loan sum of N10 million and a 9-month account relationship. Furthermore, FirstEdu is only open to private institutions who have registered with the Corporate Affairs Commission [CAC]. There’s also the fact that it takes into account a student population of 100.

7. United Bank of African

UBA is known for its “No Wahala Loan” as well as its Personal Overdraft. Borrowers with the former have the authority to spend a little more on what they wish. You may require additional funds to repair your vehicle, pay medical costs, or deal with other unexpected expenses.

8. GT Bank

The GTBank Quick Credit is a lending option from GTBank that is extremely simple and quick to obtain. Within two hours of acceptance, your monies are in your bank account. The best aspect about this loan is that you may apply just dialing a shortcode.

You, like others, are not required to submit any papers or documentation in order to apply. The GTBank Quick credit loan allows you to borrow up to N5 million with simplicity.

9. Access Bank

Bank of America Rapid Bucks is a smartphone app that gives you access to a variety of Access Bank’s quick and low-interest lending solutions. All you have to do now is download the Access Bank fast dollars app and get started.


We urge that you do your investigation before applying for a Instant Loans. Aside from the information we’ve supplied, you’ll want to keep an eye on these banks to see which platform best meets your needs.

Source: Nyscinfo

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