13 Websites To Borrow Money In Nigeria Without Collateral

Introduction

   Is your wallet a little bit dried these days or need a quick loan to help yourself through these financial difficulties? Don't worry, because I am with you to show you 13 websites where you can borrow money in Nigeria that don't require collateral. 

Borrow No Collateral 

   This will definitely be beneficial for those who are living in Nigeria. If you are not a Nigerian and want me to show you loan networks that don't require a collateral in your respective countries just give us a feedback using the below feedback form to let us know, Wise Earn Blog cares. Therefore, let's continue! 

   I know how hard it can be to need money, and that's why I myself have done the research for you. 

   Could it be a personal loan to a business loan? These websites offer different borrowing options that could fit your needs. And the good news is? You do not need to worry about providing a collateral to out take the loan. 

   So, sit tight and let me guide you through the online borrowing websites in Nigeria. For me, I believe at the end you will be able to make the right decision about where to borrow money without providing a single collateral to secure the loan of your needs. Let's begin!

1. C24 Capital 

C24 is a reputable microfinance lender that provides convenient loans to individuals and businesses in Nigeria. On C24, you can take out loans without the need of collateral or long awaiting application processes.

To borrow money from C24, you can visit their website or download the C24 mobile app. Also, you will need to provide some basic information such as your name, date of birth, employment details, and contact information. To be eligible for the loan, C24 will utilize artificial intelligence to check your creditworthiness and determine your loan capability.

After you get approved, you will receive the loan amount directly into your bank account. While the loan terms are friendly, with repayment periods ranging from 3 to 12 months in most cases. You can as well make repayments through various channels, including online, via mobile app, or at C24 physical locations.

Lastly, C24 offers competitive interest rates and minimal documentation requirements. Whether you need cash, personal loan and business loan, or other financial needs, C24 is a reliable choice for borrowing money without the need of collateral in Nigeria.

2. Fint

Fint is a digital lending site that provides quick loans to individuals and small businesses in Nigeria without requesting for collateral. The application process is completely online, making it reachable to anyone with an internet connection.

To start borrowing money from Fint, you will need to create an account on their website or mobile app. You will also then be required to provide your personal information, employment details, and bank account information.

Overall, it is a reliable and trustworthy loan giving website with a commitment to providing excellent customer service. They have a team of dedicated customer support representatives who are available to assist you with any questions or concerns you may have. If you need to borrow money quickly and easily, Fint should be the option to consider.

3. Kiakia

Kiakia is a Nigerian mobile loan website that provides instant loans without the need for collateral. The application process is quick and can be completed within minutes. 

Once your account is approved, you can request a loan amount of up to 100,000 Naira. The loan term ranges from 1 to 6 months, and you can make repayments in installments or at once. Kiakia charges an interest rate of 5% per month, which is lower than the industry average. 

One of the key advantages of Kiakia is its accessibility. Unlike traditional banks, Kiakia does not require you to have a credit history or provide collateral. This makes it an incredible option for individuals who may not qualify for loans from other financial institutions. Adding to it, Kiakia's loan approval process is automated, ensuring a fast and efficient experience. 

Kiakia also provides a mobile app, making it convenient for you to manage your account and make repayments on the go. 

If you are looking for a quick and convenient way to borrow money in Nigeria, Kiakia is a reliable and accessible option. With its easy application process, low interest rates, and flexible repayment plans, Kiakia can help you meet your financial needs without facing the stress of traditional bank loans.

4. QuickCheck

QuickCheck is a mobile loan app that offers instant loans to Nigerians without collateral. You can borrow up to ₦2,000,000 with a loan term of 30-180 days. The interest rate for QuickCheck loans ranges from 1% to 30% per month which is nice. 

To apply for a QuickCheck loan in Nigeria, you must be a Nigerian citizen with a valid BVN, NIN and phone number. You will also need to provide your employment details and income statement. QuickCheck will process your loan application within 24 hours and disbursed the loan amount to your bank account if approved.

Another thing to note is, when you fail to repay your QuickCheck loan on time, you may incur additional charges and penalties. You can also roll over your loan for a fee, giving you more time to repay.

So, it is a convenient and accessible option for Nigerians who are looking to borrow money without collateral. The application process is simple and quick, and you can receive the loan amount in your bank account within 24 hours.

5. FairMoney

FairMoney is a leading mobile lending network in Nigeria that gives fast loans without the need of collateral. On FairMoney, you can easily get loans ranging from ₦1,500 to ₦1,000,000 within minutes, making it a reliable solution for unexpected expenses or short-term cash needs.

To borrow money from FairMoney, you simply need to download the app, register for an account, and provide basic information such as your BVN, NIN and income details.

FairMoney uses advanced AI technology to assess your credit score and determine the loan amount you can qualify for. Once approved, the funds are instantly disbursed into your bank account, giving you immediate access to cash.

You can repay your FairMoney loan in flexible installments over a period of 61 to 180 days. The platform offers a user-friendly repayment interface that allows you to track your loan balance, make payments, and set up automatic debit orders for convenience. 

FairMoney's interest rates are competitive and transparent, ensuring that you have a clear understanding of the cost of borrowing.

By choosing FairMoney, you benefit from a stress free application and secure borrowing experience. The website employs industry-standard security measures to protect your personal and financial information. You can access FairMoney's services 24/7 through its mobile app, providing you with the flexibility to manage your finances at your convenience.

6. Zedvance

Zedvance is a trusted online loan giving website that offers instant loans in Nigeria without collateral. With its hassle-free application process and competitive interest rates, Zedvance makes it easy for you to access funds whenever you need them.

To borrow money from Zedvance, you will need to meet certain eligibility criteria. You must be a Nigerian citizen or resident, have a valid means of identification, and be between the ages of 18 and 55. Once you meet these requirements, you can apply for a loan through the Zedvance website or mobile app.

The application process is simple and straightforward. You will also need to provide basic personal and financial information, including your employment status and income. Zedvance uses advanced technology to check your application details and determine your eligibility for a loan. If you are good to go, you will then receive the money in your bank account within minutes.

Zedvance has flexible loan terms to match your specific needs. You can choose a loan amount ranging from ₦5,000 to ₦5,000,000. The repayment period varies from 3 to 12 months, and you can make monthly or weekly repayments if you choose to. 

7. PalmCredit

PalmCredit is a popular mobile loan app that offers instant loans to individuals in Nigeria without the need for collateral. The app uses several algorithms to assess your credit trust based on your mobile phone data and social media activity.

To start borrowing money from PalmCredit, you simply need to download the app first, then create an account, and apply for a loan. The entire process takes just a few minutes, and you can receive your loan directly into your bank account within 24 hours.

On PalmCredit, you can qualify for loans ranging from ₦2,000 to ₦100,000, with repayment terms ranging from 91 days to 12 months. The interest rates on PalmCredit loans are competitive, and there are no hidden fees or charges.

One of the advantages of PalmCredit is, when you repay your loan on time, you will be able to build up your credit score and increase your loan limit. This means that you will be able to borrow more money at lower interest rates in the future.

8. Okash

Okash is a mobile lending website that offers instant personal loans without collateral. You can borrow up to N500,000 with flexible repayment periods ranging from 14 to 365 days.

The application process is hassle free: you can download the Okash app, create an account, and apply for a loan. If your loan application is successfully approved, the funds will be deposited to your bank account within minutes.

To qualify for a loan on Okash, you must be a Nigerian resident, have a valid BVN, and at least be 20 years of age. You must also have a regular source of income. Your loan limit will be determined based on your credit report, which is assessed using your income, expenses, and other financial factors.

To repay your Okash loan, you can use the Okash app, your bank account, or any Quickteller agent. You can also make partial payments to reduce your outstanding balance. Late repayments may attract a penalty fee, so it is important to make your payments on time.

Okash is a convenient and affordable way to borrow money in Nigeria. The application process is fast and easy, and the funds are deposited quickly. The flexible repayment terms make it easy to manage your loan repayments.

9. Monipoint INC

Monipoint INC is a reputable Nigerian fintech company that provides different financial services for Nigerians and as well gives instant loans to individuals without asking for collateral. Through its mobile app and website, you can access loans ranging from ₦1,000 to ₦100,000 with flexible repayment terms of 14 to 30 days.

To borrow money from Monipoint INC, you need to create an account by providing your basic information and uploading a valid government-issued ID card NIN. Once your account is approved and verified, you can apply for a loan by specifying the desired amount and repayment period. The application process is quick and seamless, allowing you to receive funds within minutes of approval.

Furthermore, Monipoint INC offers a referral program that rewards you for referring new customers. You earn referral bonuses for each successful referral, providing an additional earning opportunity for you.

 

10. Lidya

Lidya is a digital lending platform that provides quick and easy loans to small business owners in Nigeria. To borrow money from Lidya, you will need to meet the following requirements:

a. Be a registered business with a valid Certificate of Incorporation

b. Have a bank account with a regular turnover.

c. Have a good credit history

You can apply for a Lidya loan by visiting their website or downloading their mobile app. The application process is quick and easy, and you can typically receive a decision within 24 hours. If your loan is approved, you will receive the funds in your bank account within a few days.

Lidya loans are unsecured, meaning that you won't need to provide any collateral. However, you will need to pay interest on your loan. The interest rate will vary depending on your loan amount and repayment term.

You can repay your Lidya loan over a period of 3 to 12 months. The repayment schedule will be fixed to your individual needs. You can make your payments online, through the Lidya mobile app, or at any Lidya agent location.

11. SokoLoan

SokoLoan is one of the leading online lending websites in Nigeria that provides instant loans without collateral. With SokoLoan, you can access a flexible loan amount ranging from ₦2,000 to ₦500,000, fixed to meet your financial needs.

To apply for a SokoLoan, you must be a Nigerian citizen, resident in Nigeria, and have a valid Bank Verification Number (BVN). The application process is completely online and takes only a few minutes to complete. You will need to provide basic personal information, income details, and your NIN.

Once you get approved, your loan amount will be credited directly to your bank account. The repayment period for SokoLoan ranges from 14 to 30 days, and you can choose a repayment date that aligns with your income schedule. SokoLoan offers convenient repayment options through bank transfer, USSD, and online payment platforms.

By partnering with SokoLoan, you can access quick financial assistance to cover unexpected expenses, emergencies, or investment opportunities without the need for collateral.

12. Renmoney

Renmoney is a Nigerian-based consumer lending company that provides personal, small business, and asset finance loans. As one of the leading fintech companies in the country, Renmoney has emerged as a reliable source of financial assistance for individuals and businesses in need.

If you are looking to borrow money without collateral in Nigeria, Renmoney offers several loan options that fit your specific needs. The application process is quick and convenient, with minimal documentation required. You can easily apply for a loan online or via the Renmoney mobile app.

To apply, you'll need to provide basic personal information, income details, and a valid means of identification. Renmoney uses proprietary technology to assess your credit history and determine your eligibility for a loan. Once your loan application is approved, you will definitely receive the funds within 24 hours. 

The last but not the least. 

13. KudiMoney(Kuda)

KudiMoney or Kuda is a mobile lending platform that offers instant loans to salaried individuals and business owners in Nigeria. The process of borrowing money from KudiMoney is simple and straightforward. You can apply for a loan through their mobile app or website. To get started, you will need to provide your personal information, employment details, and bank account details.

Once you have submitted your application, KudiMoney will assess your creditworthiness and determine your loan eligibility. If you are approved for a loan, the funds will be deposited into your bank account within minutes. 

KudiMoney loans range from ₦1,000 to ₦500,000, with repayment terms ranging from 7 days to 6 months. The interest rates on KudiMoney loans vary depending on the loan amount and repayment term.

To repay your KudiMoney loan, you can use the mobile app, website, or your bank account. You can also set up automatic repayments to avoid late fees. KudiMoney is a reliable and convenient way to borrow money in Nigeria without collateral. The application process is fast and easy, and the funds are disbursed quickly.

Closing

   These 13 websites listed in this post provide a helpful resource for those in Nigeria who are in need of borrowing money without the need of a collateral.

   If you are trying to finance your business or education, whatever the needs could be, I trust these websites because they offer a convenient and easy access to take out a loan.

   Using these websites, you can do a comparison between the interest rates, loan terms, and repayment options to get the best one that matches your financial ability. 

   Again, the ease of the online application process and quick approval times make them unique while borrowing money and simpler than ever before.

   Keep in mind, borrowing money is one of the quick ways to get access to cash to solve any financial emergency and should be done with caution. Always borrow money you can pay back on time and avoid accumulating debt in the process. Remember the reasons for the loan and try to stick to it. 

   So, next time you want to borrow money online that doesn't require a collateral, try reaching out to any of these websites I mentioned in this post. This could be the opportunity you have been looking for to reach your financial goals.