Loan in minutes (instant online loan) in Nigeria: Easy, quick and no collateral - Startuppreneur

Loan in minutes (instant online loan) in Nigeria: Easy, quick and no collateral

One of the advantages of Fintech boom in Nigeria is loan, before it was a herculean task to get loan, you will have to go to bank with collateral and papers and sometimes you might not even get the loan after wasting processing fee.

But that is now a bygone, loan app is given traditional Bank a run for their money, you can now obtain loan in minutes in Nigeria without collateral or documentation.


Though there is now many of these apps to choose from one need to be careful because there are some that invade peoples privacy for a slight delay in repayment.

When conducting our research we put all this in mind and come out with instant online loan in Nigeria that will not invade or send your obituary to your family they are professional and you can rely on them.

How these loan company works

It is simple you download their app or logging to their web app, register and request for loan if you qualify or meet the requirement, the loan will be disburse in to your account in minutes if not that means you have default on a loan before, you can try other loan app among those that will be listed below since not all of them check credit worthiness.


To pay back the loan you insert your credit card details and they will deduct amount specify by you

You enter a USSD code on your and pay back

What happen if I default on a loan?

As stated above most of the loan company that will be listed below are professional but yet there is penalty for those that default, it depend on their terms and condition so I will urge you to read their term and condition before taking any loan

What material do loan app require?

As started they require no collateral, what you need to prepare is your BVN number your, account number, your credit card and sometimes your income statement.

Loan in minutes in Nigeria (instant online loan)

Migo loan

Taking about the instant loan in Nigeria Migo loan top the list, getting loan from them is easy and hassle free, you can get loan within 5 minutes, you don’t need any collateral or documentation just your bvn.

To apply you can download and request on their app or with used code, once your application is successful you will be given loan in minutes and the amount they give is as high #200,000 but their payback time is 1 month.

This is how Migo loan works

They partner with financial institution like bank and telecommunication company to provide loan for their customer or user, for instance if you own a Wema bank account once you dial the used code (*561#) on the number you used to register the amount you can loan will pop up.

Page financial

Page financial is another loan company that can give instant online loan in Nigeria within minutes you apply your loan will be disbursed.

They give up to #500,000 loan without collateral and paper work. But before applying make sure you are have not defaulted on any loan before or else you wont receive any loan.

Their interest is between 5% and 15% depending on the pay back time and amount loan.

Rosabon Finance

Rosabon Finance also gives instant online loan in Nigeria, but you need to be paid employee because you will need to submit proof of salary payment.

If you are approved you stand a chance of getting up to #500,0000 but at a start you cant get up to that, once you start taking loan and paying back on time you will be enable for more loan.

Credit direct

Credit direct is a big fish, they really mean business as they are ready to loan people up to #5m naira but you need to pass their credit worthiness test.

Their interest rate between can be as high as 25% and their payback time depend on the amount of loan taking

Zedvance loan

Zedvance loan is another loan company that can give out loan in minutes in Nigeria with no collateral or paper work. With Zedvance you can get up to #500,000 loan.

Their interest rates depend on the amount of loan taking and the pay back time.

Before applying ensure you have good credit score because your credit worthiness will be check.

To apply head over to Play store for android user or app store for iPhone user to download their app, login, register and request a loan within 5 minutes your loan will be disbursed.


Carbon has been proven to be one of the best instant online loan in Nigeria they are ready to give you loan of up to #5m in minutes.

To use them head over to their website or download their app on play store, register and request for loan, within minutes it the loan will be disburse, you don’t need collateral or paper work but you will be require to submit your BVN.

Their interest ranges between 5% to 15% and payback time depend on the amount of loan request for.

Carbon is not only a loan app, you can also save with them and receive up to 11% interest rate annually and you can also pay bill, transfer and receive money in short they are mobile money app.

Read more: list of mobile money operators in Nigeria


So far Fairmoney money has been fair, they do not harass or call out their defaulters on social media or send their obituary to their friends.

They are professional loan company that gives instant loan in Nigeria without collateral, you can obtain between #2500 to #150 000 loan from them and it will be disbursed in minute.

The interest ranges between 5 to 20% according to the amount of loan taking, and the payback time can last for 26 weeks.
Like carbon they are also a mobile money, you can transfer, send and make payment with the app.

Kia kia loan

As their name implies kiakia which means quickly, you can obtain loan in minutes with kiakia. Loan from kiakiai start form #50,000 with 3.5% interest rate.

It is hassle free and you don’t need collateral and paper work.

To check your credit worthiness you are require to chart with Mr kia kia a bot which will give you some question to answer once you pass, your loan will be disbursed in minutes.

Quick check

Quick check will give you up to #500,000 loan without collateral or paper work, what you only need is your bvn. The interest rate on their loan depend on the amount of loan you take and the payback time is in month.

If you pay your loan back as quick as possible you will have lower interest rate and your credit worthiness will increase.

Aella credit

Aella credit also give loan in minutes in Nigeria, it is a popular app that have presence in Ghana, Nigeria and Philippines. They can loan you up to #500,000 and their interest rate is between 4% to 25% interest rate.

They have longest payback which is between 1 month to 3 months but know that the longer the payback time the more your interest rate.

It also offers other function other loan you can invest with them and have interest rate of 26% annually, you can also pay bill, transfer and receive money.


Branch is one of the best loan company will have in Nigeria, it has been feature on Blomberg and Forbes,, it give loan of up to #200,000 without collateral with interest ranging between 15% to 30%.

The pay back time is between 4 weeks to 54weeks according to the amount of loan taking.
They also offer feature such as saving where you can earn 20% on the amount you save and not only that you are eligible to transfer for free, pay bill, and make other transaction.

Palm credit

You can also get instant online loan with Palm credit, they offer up to #500,000 loan without collateral or documentation, to apply head over to play store or app store download the app name Palm credit, register and request for loan, in minutes your account will be credited but you need to submit your bvn before you can get loan from them.

The interest rate is between 14% to 28% and their payback time ranges from 90days to 180 days depending on the amount of loan taking.

C24 loan

C24 loan mean business as they have disburse more than 5 billion loan and have more than 150,000 customers. They also offer instant loan, within minute of applying your account will be credited. They have a long pay back time which can be in months.

Specta loan

If you are looking for quick emergency loan in Nigeria Specta loan is the go to, they give loan of up to #5 m in minutes without collateral or documentation but you need to have a bvn and good credit score.

The interest rate and payback time depends on the amount of loan taking. Their target is individual and business residing in Nigeria.
To use the app head over to app store or play store download their app and request for loan, it is easy and does not take time

Jumia loan

Do you know you can also get loan from jumia, yes that ecommerce app, with jumia pay a subsidiary of jumia you can get instant loan of up to #200,000 without collateral or guarantor, the interest rate is 3.5% and the pay back time is 1 month.

Once your application is approved your loan will be disbursed in minutes.

Kuda bank

Kuda one of the best online banking we have in Nigeria also give instant loan to their customer. You need to register on the app and become a user before you can access loan. Their loan is termed overdraft and you can get up to #200,000 depending on your transaction volume per month.

The interest rate is 0.3% per day and their pay back time is in month, if you pay all your loan back before the due date you will pay less interest rate.


Okash is from operamini, a popular web browser in Nigeria, they also give instant online loan in Nigeria . With Okash you can loan up to #100,000 and pay back in month, their interest rate is 3.5%.

The loan company is fast in approving application and within minutes of applying your loan will be disbursed.


Above are the loan companies that give Loan in minutes (instant online loan) without collateral or guarantor, to know the one that fit your situation you can try as many as possible out with small loan.

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