List of Personal loans in Nigeria (instant disbursement and hassle free)

It is no longer news that there are now many loan companies in Nigeria, more than ever before, right and left they popping up and it is not slowing down soon, as the Fintech continues to develop we will see more of them with better options.

While there are many loan company most of them actually focus on business; they loan only to those that are doing business until recently when they started including personal loan into their features, and you know what this personal loan are easy and has no collateral.

Most of the personal loan apps that will be listed in this article are hassle free, you don’t need to go to their physical location to get it, with just a tap on your phone you will get loan of up to #50,000.


Note the list is in no particular order

List of personal loan in Nigeria

Branch loan

The first on our list is branch loan, they are reliable and does not harass their defaulted customer nor call them out on social Media.

With Branch you can get up to #200,000 without collateral or paper work you don’t even need to visit their location, with a tap on your phone your bank account will be credited


Their payback period is between 4 weeks to 40 weeks depending on the amount borrow and their interest rate ranges from 15% to 30% depending on the payback time. The longer the payback time the higher the interest rate.

To use them head over to app store for Iphone user an d play store for and android user, download the Branch app, register and request for loan their requirement is valid email and BVN once you get have it, your loan will be disburse within 24hrs.

Migo loan

Migo loan is another loan company that give personal loan in Nigeria, they are in partnership with many telecommunication companies and Bank in Nigeria which means you can get loan from their platform or simply dial a ussd code on your phone (*561#).


If you use ussd code the amount you can loan will be display once you dial the ussd code, it is easy and hassle free.

Though they stated that you can loan up to #500,000 the amount you can actually loan depend on your transaction volume per months their interest rate is 3.5% and the payback time is a month.

If you are looking for instant personal loan in Nigeria they are the go to but their interest rate and payback time is not encouraging.


Carbon pay later

Carbon gives loan of up to 1 million naira in Nigeria without collateral or documentation, with just your bvn you are good to go. Their payback time depends on the amount you request for and interest rate ranges from 5% to 15%.

Carbon is a professional loan company they know how to handle defaulter which does not include invading friends privacy but that does not mean you should not pay up your loan they sure know how to collect their money back.

Apart from loan carbon also have feature where you can pay bill, transact and save, you can get a whopping 11% interest rate on your savings.


To use then head over to play store or app store and download their app, register with your bvn number and other details, request for loan, in minute your loan will be disbursed.

Their loan is fast, easy and hassle free.

Aella credit

Aella credit is an international loan company in Nigeria, they have presence in Nigeria, Ghana and Philippines, they give up to #700,000 personal loan in Nigeria without collateral or documentation, like others above what they request for is your bvn once you submit it you will get your loan.


Their interest rate range from 15% to 29% and the pay back time is 1 month to 2 months depending on the amount of loan requested.
Like carbon they also have feature where you can transact, pay bill, save and invest. If you invest with them you will get up to 29% interest rate.

To apply head over to play store or app store to download their app and request for the loan, the app is easy to navigate, after requesting your loan will be disbursed in minute once your application is approved.


Fairmoney is one of the licensed loan company in Nigeria they are professional in dealing with defaulters . Their loan is free of collateral and it is hassle free.


They give up to #150,000 loan but as first timer you won’t get up to this amount as you move on with them the amount of loan you can get will increase.

They check credit worthiness so ensure your credit score is good before applying. Their interest rate is 5% to 28% depending on the amount of loan requested for and the payback time is between 4 weeks to 26 weeks.

They also have option where their customer can pay bill, create bank account and send money. You can get their app on play store and app store, it is easy to navigate.


Kia kia loan

Kia kia loan company also give personal loan in Nigeria but their requirement is much you need to provide your bvn, income statement and must be above 21 years of age, if you can provide all this you stand a chance of getting their minimum loan which is 50,000 without collateral.

Their interest rate is 3.5% and the pay back time is a month, they will check your credit score once you apply so ensure you have not defaulted on any loan before.

Kia kia loan is very fast in disbursing loan but you need ton look into their interest rate and payback time if it fit you, you can go ahead and request for loan.



Quick check approve loan application quickly they are very fast and their loan is collateral free but as usual you need bvn for verification, and your credit score must be good

You can access up to #200,000 loan with them but as a first timer what you can access is #10,000 naira for 3 month but once you pay back regularly the amount you can access will increase, the #10,000 was just to test you.

On Quickcheck if you pay up your loan before the stipulated time your interest rate will be reduce.


The initial interest rate on quick check can be up to 30% depending on the amount of loan you requested for. Their loan is free and hassle free without collateral.

To apply download their app on play store or app store and request for loan, it is easy to navigate even for kids, lol.

C24 loan

On C24 you can get personal loan and business loan without collateral just your bvn. With C24 you can get up to #100,000 but as usual the loan you can get as first timer is smaller than this.


Their interest rate and payback time depend on the amount of loan you request for. Their loan disbursement is slow but they will surely credit your account, one thing again ensure you have good credit score before applying.

Jumia loan

You can also get personal loan from jumia not jumia ecommerce I mean jumia pay, you can access up to #200,000 naira loan without collateral or documentation but the payback time is just a month and the interest rate is 3.5%.

To apply head over to play store or app store to download their app and request for loan, it is free and hassle free.


Jumia does not check your credit score but you should be credit worthy.


Okash is a subsidiary of Opramini a popular web browser in Nigeria, they also give personal loan without collateral but their loan is small you can only get #50,000 naira with the interest rate of 3.5% per month.

The loan is fast and easy but before applying you need to have you bvn and ID card ready.
You can download their app on play store or app store for iPhone user.


Specta loan

Specta loan give out business loan and personal loan in Nigeria, they give up to #5m loan without collateral or documentation but as a first timer the loan is actually lower than that.

Their interest rate and payback time depend on the amount of loan you request for. Specta loan is easy and hassle free you don’t need guarantor or visit their company with a tap your phone your account will be credited in minutes.

One of the thing they require is your BVN so get it ready before applying and you need to have a good credit score because they will check it.


Onefi loan

Onefi loan give up to #200,000 personal loan in Nigerian, and you know what they have flexible payback time which ranges from 3 months to 6 months, they want their customer to have peace of mind while paying back their loan.

The interest rate depends on the amount of loan request for.Onefi loan is quick, easy and hassle free.

How to choose the right loan

I’m sure you are confuse of the loan company to choose, it is normal, to choose any loan app check the following benchmark


Check if their interest rate is what you can afford to pay, do not rush to take loan, interest rate is one of the factor that make people to default on loan in Nigeria so check well

The payback time

Check if the loan company give you enough time to pay back, do not take loan that require you to pay back in 2 weeks best loan payback time is in month even if anything happen to you, you will have enough time to balance and pay back

Term and condition

I’m sure you would have experience a privacy invading where loan company drag their customer in your DM, they are not actually to be blame it is those that take loan form them without reading their term and condition, so check what your loan company want, how they treat their defaulters and what people are saying about them


What is their pay back method?

Some loan app allows their customer to pay back with credit card while some include feature to payback with ussd, code. Over time credit card has proved to be a cheat, people who pay back their loan with credit card later find out that their loan was not rule out and the loan company continue to harass them.

Some loan company will go as far as deducting money automatically from their users bank account even after they have pay back. So far paying back with ussd code is the best.

The loan reputation

Avoid new loan company they are new though they might entice you with lower interest rate but nobody know how their deal with their user if you apply with them you will be the scape goat and I’m sure you don’t want that.



Above are the company that give personal loan in Nigeria, you can try them out by taking small loan and settle for the one that tick your boxes.

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