Some years ago it is hard to get a loan in Nigeria, the only place to look at is the bank and that comes with frustration and they rarely loan money to individual not talk of getting urgent loan from them
Thanks to Fintech popping up and there, they make it easy to get urgent loan without collateral or documentation, they understand that their customer will need to meet an unforeseen financial obligation so most of them include the loan feature in their product even the online banking ones.
While there many loan company that give loan in Nigeria, few actually make it snappy, with some you will have to submit scanned document that will take forever before approval.
We have taken our time to research and check the one you can get urgent loan from without documentation or collateral and not only that our list contain professional loan company, not those that will send your obituary to your friends and family.
How they disburse loan
It is simple, you will go to their website or download the app of respective loan company you want form play store or app store, login and register with your details, after registration you can then apply for loans.
Some will check your credit worthiness which means if you have defaulted on some loan before they will not give you loan while some will just go ahead and credit your account. All the same they all give you loan instantly.
Urgent loan in Nigeria without collateral or documentation
Carbon (pay later)
The first on our list of urgent loan in Nigeria is carbon formerly know has Pay later, it is one of the best loan company that give loan without collateral. To use them go to play store or app store download it, register and request for loan.
Carbon will access your credit worthiness through your BVN and if it is good you will be given loan instantly not more than 10 minutes.
Carbon gives loan between #15,000 to 1millon naira and charge interest rate of 5% to 15% depending on the amount of your loan and the payback time.
To repay you will use your ATM card to pay back every day or week or month according to the time you specify to pay. As you pay your loan and interest regularly your credit worthiness will increase and they will loan you more money.
Carbon is not only a loam app, in fact it acquires Pay Later just to have that function, it also have feature such as bill payment, airtime purchase and others.
The only problem with carbon is their credit worthiness therefore if you have defaulted on loan before they may not give you loan.
Fairmoney
Indeed it is fair in money with Fairmoney you can bid buy to hassle that surround loan obtainment, with fairmoney you don’t need any collateral or documentation and you can get it within 5 minutes. It is one of the best urgent loan company in Nigeria that loan people up to #150,000.
To use them download their app in play store or app store and register with your phone number or Facebook, request for loan and it will be disbursed into your account within 10 minutes.
Read more: List of mobile money operator in Nigeria
Their interest rate depend on the amount you want to loan it is usually between 5 to 20% but the payback time can reach 3 months according to how you want it and the amount you borrow from them.
Fairmoney is not also based on only loan, you can also register bank account with fairmoney, pay bill, saved money and make financial transaction.
So far there have been little or no complain about them as at the time of writing this article, they don’t drag their customer on social media. You can count on them when emergency situation that involve money arise.
Palm credit
Palm credit is another urgent loan in Nigeria; they are ready to give you up to #100,000 loans to people in Nigeria without collateral or documentation.
It is easy to use and hassle free to use them download their app on play store or app store, register and request for loan within a minute your account will be credited.
The interest ranges between 5% and 20% depending on the amount of loan and the payback time. Palm credit payback time can be as long as 90 days to 180 days depending on how you want it, but note that the longer the duration the higher the interest rate.
Kiakia loan
As the name implies kia kia” which means “quick in english give urgent loan to people in Nigeria without collateral or documentation.
They use algorithm to check their user credit worthiness, so if you have defaulted on loan before I will advise you not to go to them. The minimum loan they give out as at the time of writing this article is #50,000 with interest of 3.5%.
Kiakia use deferent approach, to obtain loan form them you need to login to their web app and answer the question that will be throw at you by their bot, once you pass through your money will land in your account within 10 minutes.
Branch loan
Branch is one of the best loan company that give urgent loan in Nigeria, they have been feature in Bloomberg and laud by many award giver as a result of how professional they are in handling defaulted customer. With branch you can get loan between #1,000 to #200,000 without collateral or documentation and they don’t use credit score.
One of the best thing about Branch is that the payback time is long you can pay back between 4 to 49 weeks though the longer the pay back time the higher the interest rate which ranges between 5 to 8%.
You can access them through app which you can download on play store or app store. Branch like many other loan company listed above all have other feature such as saving where you stand to receive up to 20% interest rate according to the duration of your shaving, you can also pay bill and make transfer.
Aella credit
Aella credit have presence in Nigeria, Ghana and Philippines, they are professional loan Company and one of the top ten in Nigeria. To use them download their app on play store or app store, register and request for loan, they will use algorithm to check your credit worthiness and once you pass you will revive alert in minutes.
Their interest rate ranges from 5% to 38% depending on the amount and duration of the pay back which is usually between 30 days to 60 days
Apart from loan giving, you can also invest your Money with Aella credit with a whooping interest rate more than 20% and you can also transfer, receive and pay bill with the app.
So far they have been keeping to their promise.
Quickcheck
Quick check offer loan of up to #500,000 with no collateral or documentation. To use them head over to play store or app store to download the app and request for loan, if you have good credit score you will been given loan instantly. But as a first timer you are only eligible for #10,000 naira, as you use the app and pay back you will move up the ladder and access more loan.
Their interest rate is high and it can be as high as 30% but you will only pay interest rate on the amount of days the money stay with you. The pay back time is 39 days though depend on the amount of loan requested.
Fast credit loan
If you are looking for an urgent loan with a long pay back time Fast credit loan is the go to, they offer loan to individual as well as business without collateral or documentation and it is hassle free. To use them download their app on play store or app store and register.
They offer up to #1 million loan with interest rate of up to 25% though depend on the payback time.
Migo loan
Migo loan is one of the best urgent loan in Nigeria, you don’t need collateral or documentation and you know what, you can get the loan on their app, web app or use USSD code for those that have no Internet.
The interest rate is between 5% to 15% and the pay back time is 30 days. It is easy to use and hassle free with you BVN and account number you are good to go
Lidya
Lidya is a loan company that have their focus on both individual and business, you can get your loan from them quickly without collateral or documentation.
They give loan of up to #150,000 naira but they use credit score so if you have defaulted on loan before don’t go to them. You can download their app or go to their website to access the loan.
The interest rate on their loan is 3.5% and pay back time is a month.
Social lender
This loan company use different approach, they score you according to your social reputation therefore if you have bad reputation on social media perhaps you have abuse someone or sell fake product before they will not give you the loan.
Once you login to the app you will need to connect it with your social media where they will access your reputation. As a first timer the loan you will be given is #10,000, it will improve as you take loan form them.
Thy give loan of up to #200,000 with interest rate of 5% to 25%
Specta loan
Specta is one if the big man in Nigeria loan industry, it is own by starling bank, with Specta you can access up to 5 million naira loan within a minute.
They focus on business, individual, non salary earners and others.
The only bad thing about Specta is that the interest rate is high and is between 26% to 30% but they have a long pay back time.
Jumia loan
Few people know that Jumia give out loan to people but you must have created account with them. You can get loan of up to #200,000 naira with them. It is easy and does not require documentation or collateral.
To use then download Jumia app on play store or app store and request for loan. With Jumia pay you can also do other things lie bill payment, revive and send money.
C24 loan
C24 loan is another loan company that offer urgent loan in Nigeria, they give loan of up to #200,000 and have flexible repayment plan.
They boast of having more than 300,000 customer which show that they are professional, they will not call out your name on social media or send your obituary to friends. If you use them within minutes your account will be credited.
Onefi
Onefi has one of the best loan repayment plan in Nigeria, between 3 months to 6 months according to amount of loan request, you can borrow up to #200,000 from them. To use them download their app, register and request for loan.
Zedvance loan
Zedvance loan check your credit worthiness so if you have default on a loan before don’t go to them. They offer up to 5 million naira loan which will be disburse within minute once you pass their credit score.
To use them, create account with them, answer some of the question they will throw at you and select the loan package you want.
Lcredit loan
Lcredit will give you loan without BVN, no collateral or document in Nigeria but one thing is that you need to have a good credit score that means you should not have defaulted on loan before, to use them download their app and request for loan, it is easy and hassle free.
Conclusion
Above are the companies that will give you urgent loan without collateral in Nigeria, I will advise you to register with many of them use them and stick to one you like.
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