where to get online loans in nigeria


Whether you need a personal loan to tide you over some rough times or a business loan to invest in and grow your business income, it is never easy to come across loans from commercial banks without being asked for collateral that is worth at least the amount of loan you are asking for.

So asking for and getting a loan from the big banks is not always easy and possible.

So what are the options for someone who wants to get a cheap loan (one that does not have high interest rates) in Nigeria?

We researched and came up with several sources, websites and apps where you can easily apply for and get a loan ranging from a few thousands to hundreds of thousands (or even millions) of Naira.

Here are Apps, Websites and Places Where You Can Get up to N1 million Loan Without Collateral

1. Lidya

Lidya provides business loans and support to small business owners. You can also get personal loans from Lidya. You first create an account, link your bank account and apply for a loan. Lidya analyses your bank account transactions in 24 hours to come up with the appropriate amount you can borrow.

You can register and apply for loans at Lidya here – https://www.lidya.info/ng/en/home/

2. GTBank QuickCredit

If you have a GTBank account and use the GTWorld app you can qualify for a quick credit loan after 6 months. Quick Credit analyses your transaction and inflow to your GTbank account to determine how much you can get in loans from your GTWorld app.

Depending on your bank account transaction volume you can qualify to take up to N500,000 loan from Quickcredit via your GTWorld app.

3. Aella Credit

On Aellacredit you can get up to N1 million loan without collateral. With Aella Credit you simply create an account, answer some questions to check your eligibility and then apply for loan. You can build up your credibility by starting with the low loan amount and you get your limit increased as you repay your loan on time.

4. Payhippo

Payhippo focuses on providing fast, seamless loans to small businesses. Applicants can download the Payhippo app, register and apply for loans.

Payhippos claims to use Artificial intelligence to analyse data and show you how much you can borrow for your small business

5. Branch

Branch is a personal finance and loan app where individuals can apply for loans without physical presentation of documents.

Branch is touted as one of the best loan apps in the country. Applicants download the app, create account and apply for loans which are reviewed based on available data provided.

6. FCMB Fastcash Loan

The First City Monument Bank (FCMB) FastCash loan enables an individual get up to N200,000 loan without collateral and paperwork.

If you have an FCMB account you apply for a loan through the mobile app or through the short code – *329*11#.

7. WEMA Bank Salary Loans

If you are a confirmed salary earner and have a Wema bank account you can qualify to apply for a salary loan from the bank.

You can apply for up to 7 x your net salary or a maximum N2 million.

After application and review the loan is usually disbursed within 48 hours.

8. Access Bank Payday Loan

If you have an access bank account and use the Access bank app you can check if you qualify for a loan.

You stand greater chances if you use your access bank account to receive salary payments.

You simply open the Access bank (Access More) app. Click on Instant Loans to see if you qualify.

You will see eligible loan amount, if you do. Interest is 4% payable in 31 days.

9. Lendigo

Lendigo gives loans to small business owners such as ecommerce merchants, POS agents, distributors and other small businesses.

As a first time applicant you could get a loan of N100,000 if you qualify. You can download and apply for loan through the Lendigo app.

10. Carbon

Carbon is a fintech app that enables you take a loan to be repaid between 15 days – 6 months.

Through the Carbon loan app you can take a loan of between N7,500 – N1 million at various interest rates depending on your credit rating.