Get Loans Without Collateral In Nigeria

Top Websites To Get Loans Online Without Collateral

To get loans without collateral in Nigeria is now made possible by most Fintechs and government assistance programme. Prior to this, access to loans was one of the main issues affecting business owners, small firms, students, and regular people.

However, getting loans online without collateral is now quite simple. This article will identify websites where you can apply for loans online without putting up any security.

Why Do I Need A Loan?

You might require a loan for a variety of reasons.

  1. It can be to launch a company, or
  2. To grow your company.
  3. It might be to raise capital or cover education costs.
  4. You may occasionally require a loan for personal reasons, such as to cover house rent, service fees, repair your belongings, and much more.

Get Loans Without Collateral

Collateral is the main issue that individuals encounter while looking for loans. Most lenders request collateral, and the demands they make are frequently unreasonable. Maybe you don’t have it. Do not fret; there are easy ways to obtain loans online without collateral. We’ll provide a list of websites and links where you can obtain unsecured loans.

You might not even need all the paperwork and hassle. And some of them have interest rates that are even better than those offered by banks.

List Of Websites That Grants Loans Without Collateral

S/N Websites
1 Carbon (Paylater)
2 Creditdirect
3 C24
4 Fair Money
5 Fint
6 KiaKia
7 Migo Kwikmoney
8 Pennylender
9 Rapid Cash
10 Renmoney
12 Zedvance

Apply For Federal Mortgage Housing Fund

Top Websites To Get Loans Online Without Collateral

These websites offer loans in Nigeria without collateral.

1.Carbon (Paylater)

Quick online loans without collateral are available through Carbon, formerly known as Paylater, to individuals, small enterprises, and anybody else in need.

How Do I Access Loan On Carbon?

All you need to access a loan on Carbon is an android phone and internet connection. You should also have your bank details and BVN ready.

You can apply for a loan at any moment by downloading the Carbon app from the Google Play store. They guarantee that they will approve a loan without collateral within five minutes of receiving an application, although sometimes it may take up to two days.

What is the maximum amount I can get from Carbon(Paylater)?

You can obtain up to N1 million using Carbon. Please note that the quicker you repay your loan, the better interest rates and amount you can get next time. You don’t need any paperwork or collateral to secure the loan.

Download the Carbon app from play store here.

2. Creditdirect

You can apply for loans from Creditdirect online up to N500,000. All you need to do is complete the online form, and someone will contact you.

What are the loans provided by CreditDirect?

They provide a number of financing options;

  1. Cash to Go loans are available to salaried individuals.
  2. Loans designated as “Sharp Sharp” for employees of the federal, state, and local governments.
  3. ‘Empower the Corp.’ loans for Youth Corp. and
  4. “Quick Asset” loans for businesses.

You can access creditdirect loans here

3. C24

Online loans from C24 are available with a flexible nine-month repayment schedule. Formally, you would need to visit their office with some identification documents to pick it up yourself, but according to information published on their website, this is no longer necessary.

C24 loans are collateral-free. A reasonable interest rate is charged. A quick response to loan requests is also promised.

You can access C24 loans here

4. Fair Money

Fair Money provides online instant loans. It may be a personal loan, a loan for schooling, or a loan for a business. Fair Money covers it all without collateral.

How do I get a loan without collateral from Fair Money?

  1. Simply download the app from the Google Play store,
  2. enter the required information, and you might have your loan in hand in just five minutes.
  3. The first loan is for N40,000. More can be unlocked with time.
  4. After receiving your salary, you have 15 to 30 days to make a repayment.
  5. A 15% to 30% interest rate is standard.

You can access Fair Money website here

5. Fint

From a group of lenders, Fint provides online loans to clients. Fint will lend you anywhere from N60,000 to N2,000,000. The monthly interest rate is as low as 2%.

How do I access loans without collateral from FINT?

  1. There is no collateral required to get a loan from Fint.
  2. After opening a borrower account, you must complete the FINT Risk Assessment.
  3. Investors will finance your account as soon as you are accepted.
  4. You can also be a lender on Fint and make money lending money to people.

You can apply for Fint loans here

6. KiaKia

Simply by having a chat with Mr. Kiakia, you can obtain a Quick loan from the platform. You can choose to become a lender on Kiakia and earn money by doing so.

How do I get a loan on Kiakia

All you have to do to obtain a loan from Kiakia is speak with Mr. Kiakia and if you are eligible, the loan will be disbursed.

You can access Kiakia loans from here

7. Migo Kwikmoney

There are instances when you need a short cash advance that you can repay in a week or so because something unexpected happened.  Herein lies Migo’s role. They guarantee to give you a fast cash loan within 60 seconds. Actually, not quite, but only after approval.

Why Apply For Migo Kwikmoney Loan?

Migo is perfect for emergency loans in Nigeria. It enables users to obtain rapid cash online through a collaboration between banks, mobile network providers, and technology firms

Online loans from Migo are available up to N500,000. The repayment period is between 14 and 30 days, and the interest rate ranges from 5% to 15%.

How do I access Migo loans without collateral?

Visit the official platform to access Migo loans

You can also dial *554*561# or *561# on your 9mobile (Etisalat) line.

8. Pennylender

Nigerians can quickly and conveniently apply for loans online with Pennylender. You only need to upload a few files online for your bank account to be credited.

How do I get loans without collateral on Pennylender?

  1. There is no need for a guarantee or collateral on Pennylender.
  2. You must supply a valid ID, utility bills, a passport photo, employment documentation, and three months’ worth of bank statements.
  3. On Pennylender, you can borrow between 10,000 and 500,000 Naira.

9. Rapid Cash

In Nigeria, Rapid Cash provides quick online loans. They promise to disburse within minutes after approval .

The minimum loan amount is N5,000, and the maximum loan amount is N30,000. Each loan carries an interest rate of 30%.

How do I get loans without collateral from Rapid Cash?

  1. Simply create an account using Facebook or Twitter.
  2. You must choose a guarantor from your Facebook contacts.
  3. No security is needed.

10. Renmoney

Renmoney provides quick internet loans up to N4 million without requiring collateral or a guarantor. The payment terms range from one month to twelve months, and they offer a good interest rate.

More than 25,000 people use the company’s microfinance bank services. However, their financing options are what make them well-known. 

Why Apply For Loans Through Renmoney?

Renmoney has a solution whether you require a loan to cover your rent, school expenses, purchase a TV, or a generator.

Additionally, they provide loans for education expenses, work, POS, and smart phones.

You can visit Renmoney loan portal here


SMEDAN stands for Small and Medium Enterprises Development Agency of Nigeria. It was created by the government to support Small businesses.

You will have a decent chance with SMEDAN whether you are seeking for loans online for starting a business, expanding your business, or paying for school expenses. Applying through SMEDAN to get loans without collateral is a wise choice. This is because it offers training to assist you succeed if your goal is to manage a business, in addition to having government support.

How do I get loans without collateral from SMEDAN?

  1. To get a loan from SMEDAN, you need to fill a quick online form.
  2. You will be asked what you need the loan for, how much you need, your location and more.
  3. After this, you can check availability of loan.

You can visit SMEDAN loan portal here

12. Zedvance

You can apply for loans online from Zedvance up to N5 million in 24 hours. That means you can get an online loan without collateral same day. However, there is no assurance there; it could be longer depending on your profile.

Why Apply For Loan Through Zedvance?

They provide a one- to twelve-month payback schedule. Nevertheless, the longer you extend it, the more you pay.

According to Zedvance, the amount you repay is determined using a risk-based pricing model rather than a predetermined interest rate. Although you don’t need a guarantor, you must be in the workforce.

You can access the Zedvance loan portal here

Make Money Online In Nigeria

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