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[Latest Paying 2021] 19 Legit Apps To Get Instant Loan Without Collateral In Nigeria

With the present economic situation in Nigeria, the demand for loans is at an all-time high. Whether you are an entrepreneur trying to grow a business or a parent trying to cater for family needs like children’s school fees, accommodation, or feeding, bills or a student looking for money for your academic pursuit or urgently in need of money, a loan could provide a big boost to your finances and help meet these needs. loans without collateral in abuja, fint loan, rapid cash nigeria, latest loan app in nigeria, 24hrs loan in nigeria, quick loan without collateral in nigeria, loans in nigeria without collateral, fast cash loans nigeria
As a form of assurance that you will fulfill your end of the agreement, most financial institutions and loan providers require collateral before they give out a loan.

In this article, we’re going to provide answers to the following questions:

  • Which app gives loan instantly in Nigeria
  • Can I get loan without collateral?
  • How can I get a personal loan without collateral?
  • Can I get an instant loan?
  • Borrow money online instantly in nigeria
  • New loan apps in nigeria 2021
  • Quick online loans in nigeria
  • Loans in nigeria without collateral
  • And a lot more

Just before we proceed, let me explain some terms: What is Loan? and What is collateral?

A loan is a form of payment, usually in money, paid to a person, individual or organization with an agreement of a future payback with interest.

What is collateral? This collateral is an asset belonging to the person willing to collect the loan and a valid proof of ownership must also be presented.
This implies that, collecting loan with collateral requires you who is the person collecting the loan to provide an asset and a valid proof of ownership to the financial institutions or the loan providers before the loan will be granted to you.

Businesses need more money to keep running, students need finances in school, new entrepreneurs need capital to start businesses, parents need money for their children feeding and individuals need money to go about their daily activities. Low interest loans would be a very much needed savior for these set of people and more. kiakia loan app instant online loan in nigeria ussd code for loans in nigeria urgent loan in nigeria
Unfortunately, not all platforms give loans in Nigeria without collateral but just a few.

Hence, whether you are looking for an urgent loan in Nigeria or loan for startup business in Nigeria, or even SME loans without collateral in Nigeria, this guide will help.

In this guide, I will be sharing with you 19 legit and latest/new platforms you can get instant loan without collateral in Nigeria.

Where can I get Instant Loan Without Collateral In Nigeria?

In this section, I have listed 19 of the best platforms that give instant online loan in Nigeria easily.
With the below listed platforms you can apply for a loan at any time of the day after filling a form and your request will be processed in 24 hours. best loan app in nigeria 2020, mobile loan in nigeria, paylater loan app, 24hrs loan in nigeria
These platforms are absolutely online and have very low-interest rates depending on the time you are expected to pay back.

Below is a list of the top 19 online platforms to get Instant loan without collateral in Nigeria.

  1. Carbon
  2. Opay Loan
  3. RenMoney
  4. Branch
  5. FairMoney
  6. Aella Credit
  7. Kiakia
  8. Lidya
  9. Migo
  10. Jumia Loan
  11. Specta
  12. QuickCheck
  13. Fint Loan
  14. C24 Loan
  15. Social Lender
  16. Zedvance
  17. ONE-FI
  18. SMEDAN
  19. GroFin

Lets briefly discuss this platforms, shall we? Lets proceed…

1. Carbon

The official website is www.getcarbon.co
Carbon is one of the top platform that offers instant loan without collateral in Nigeria.
Formerly and popularly known as PayLater, carbon is a quick lending online platform which offers loan up to NGN 20 million.

Interest rate ranges from 5 to 50% depending on the amount to be borrowed and the time you will payback.
With all these in mind, we should note that Carbon doesn’t require collateral.

Carbon uses the Bank Verification Number (BVN) of prospective lenders to determine the rate at which they can borrow out money. emergency loan in nigeria, free loan in nigeria, quick cash loan code,

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Carbon is also a loan app. Hence, if you are one of those asking “which app gives loan instantly in Nigeria?” then you might want to give Carbon a trial.

The good thing about Carbon is that it is available on both web and mobile (Android Os and IOS).

2. Opay Loan

Opay is another top platform to obtain instant loan without collateral in Nigeria.
Opay is a brand well known by Nigerians for providing financial services. Owned by tech giants Opera, Opay’s loan platform which is known as Okash gives loans to Nigerians without collateral.

With the Okash app, you only have to open an account, provide your details and you will get approval within 24hours.
The Okash app is

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available on Android Os and IOS devices app store. Visit www.operapay.com for more details about Opay Loan.

3. Renmoney

Renmoney is one of the top sites to get instant loans in Nigeria without collateral.
With Renmoney, Nigerians can get loans of up to ₦4 million that can be repaid within a period of 9 months without tendering collateral or guarantor.

The minimum loan amount on Renmoney is ₦100,000 with their interest rate being 2.8% per month.

To apply for a loan on Renmoney, certain conditions must be met.

These conditions include being within the ages of 22 and 59, having a steady source of income, having a functional savings or current account, and a valid means of identification.
The official website is www.renmoney.com

4. Branch

Branch is another platform that allows Nigerians access to quick loans. This is one of the most reliable loan platforms for getting instant loan without collateral in Nigeria.
Branch offers loans ranging from ₦1,000 to ₦200,000 within a period of 4 to 40 weeks; and loan request are processed under just 24 hours. new loan apps in nigeria 2020, ussd code for loans in nigeria, instant online loan in nigeria, paylater loan app
Getting loans on Branch doesn’t require collateral and you get interest rates ranging from 19 to 34%.

Branch is a totally online platform, meaning people from all parts of Nigeria can request loans without having to go through strenuous processes requirements after the lender’s borrowing history have been met and verified.
For more info, visit the official website: www.branch.com.ng

5. FairMoney

FairMoney is another best loan app in Nigeria.

FairMoney is an app-based loan platform which grants loans to Nigerians without collateral.
To get a loan from FairMoney, your Bank Verification Number and credit card details are needed.

You enjoy interest rates between 5% and 28% depending on the amount you are borrowing and between ₦2,500 to ₦150,000 can be borrowed over a duration of 4 to 26 weeks.

FairMoney reduces interest rates for lenders who pay before the end of the loan.
Website: www.fairmoney.ai

6. Aella Credit

Aella Credit is another best app that gives instant loan without collateral in Nigeria.
Aella Credit is an app-based online loan platform available to users in Nigeria, Ghana and The Philippines.

Based mainly on employee lending, Aella Credit offers loans, funds ranging from ₦5,000 to ₦700,000 can be accessed for a period of 1 to 2 months at interest rate of 4 to 29% which is a very good interest rate.

Like other platforms, Bank Verification Number (BVN) is a requirement to access their loans.
Website: www.aellaapp.com/

7. Kiakia

Kiakia is another best website where you can get instant loan without collateral in Nigeria.

Nigerians are familiar with the word ‘kiakia’ which directly translates to ‘fast fast’.

This online lending platform lives up to the translation as it provides quick loans with their highly effective and efficient services.

Backed by Sterling Bank PLC, Kiakia’s loan minimum amount is ₦50,000 with an interest rate of 3.5% per month.
Website: http://www.kiakia.co/

8. Lidya

Lidya is another top platform for obtaining instant online loan in nigeria.
Available both on the Lidya website and app for mobile, Lidya was launched in 2016 with a mission to bridge the credit gap in Nigeria and other emerging markets. The minimum Lydia loan amount is ₦150,000 with interest rates starting from 3.5%. Lidya characteristically replies within a few hours given you satisfy all conditions.
http://www.lidya.co/

9. Migo

Migo which was formerly known as Kwikmoney is a loan platform formed by collaboration of banks, companies and mobile network operators to make loan easy to access.
Migo provides web, app and USSD services. A loan of up to ₦500,000 can be obtained from Migo.

Migo charges an interest rate of 5% to 15% depending on the amount borrowed and the loan must

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be repaid in 14 to 30 days.

You can visit your mobile device app store to download Migo app or visit www.migo.money for more info. If you don’t have an internet enabled mobile phone, Migo is accessible by dialling *561#.

10. Jumia Loan

Jumia is also another top platform that gives instant loan without collateral in Nigeria.
Jumia is widely known in Nigeria for selling online quality goods at cheap price.

However with the JumiaPay platform, Nigerians can access loans quickly, easily and without collateral.
All you have to do is download the JumiaPay app, go through the ‘financial services‘ section, provide your details and you will get feedback once your request is approved.

Download the JumiaPay app on your mobile app store or visit the Jumia loan page to get started.

11. Specta

Specta is a totally online loan platform that gives quick loan services to it’s users without any form of collateral or paperwork.
On http://myspecta.com/, you will find out more about the loan services of specta which include MySpecta for individual loans and Specta4Business for business loans.

12. QuickCheck

QuickCheck is another lending platform that gives loans without collateral in Nigeria.
Getting loan from QuickCheck is easy; all you need to do is download the QuickCheck application from the Google Play Store, and sign up.
Users of this platform can enjoy up to ₦500,000 loans within minutes. First time users, though, can only have access to a maximum loan amount of ₦10,000 payable in 30 days.

13. Fint Loan

Fint Loan is another top site to get instant loan without collateral in Nigeria. kiakia loan app, urgent loan in nigeria, mobile loan in nigeria, loans for unemployed in nigeria
Fint Loan offers you affordable loan with as low as 2% interest rate per month for your rent, school fees, medical bills and others for yourself and your employees if you register under the Fint employment model. The platform is accessable at http://www.fint.ng/

14. C24 Loan

C24 loan is another platform to get quick loans without collateral in Nigeria. Applications for loans could be done under 5 minutes after which, a feedback is given.

One unique feature of C24 Loan is payment flexibility as loans can be repaid in

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installments.

15. Social Lender

Social lender is a loan platform that grants loans by social reputation. It’s proprietary algorithm carries out a social audit of users on social media, websites and mobile before loan transactions can be made.

Social Lender can be accessed on their website.

16. Zedvance

Zedvance is a consumer finance company committed to providing consumer credit to individuals. You can borrow up to 3 Million Naira in less than 24 hours.

The company specifically provide loans to salary earners but if you are a salary with a side business, you can pick up the deal to finance your business use.

17. ONE-FI

Formerly known as One Credit, OneFi is a credit facility company that offers short-term consumer loans to credit-worthy individuals with limited access to finance.

One-Fi loan repayment cycle is typically between 3 – 6 months, with loan amounts up to N200,000 or more.

18. SMEDAN

SMEDAN is a government-backed initiative to offers quick and easy business loans to Nigerian SME’s businesses in need of financing. The core mission of the organization is to promote entrepreneurship among Nigerians and also provide capital to start the business. kiakia loan app, urgent loan in nigeria, mobile loan in nigeria, loans for unemployed in nigeria
Aside funding, SMEDAN also provide business owners with hands-on training and support to help them run their business. If you would like to apply, click here to access their online application portal.

19. GroFin

GroFin provides Small and Medium Enterprise (SME) finance/business loans across Africa & the Middle East. If you have investible numbers and you looking to expand your business, then GroFin is your best short.

With GroFin, businesses can access business loans between US$100,000 and US$1.5 million. If you think your business ticks the required checklist, then you can submit your online application here.

That’s all on the best 19 platforms you can get instant loan without collateral in Nigeria.

I hope this guide helps? For more information or querries, comment below

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