If are you looking for loan apps in Nigeria without collateral then you are in the right place. In this article, we have arranged all loan apps in Nigeria without collateral and quick delivery of their loan directly into your preferred bank account after your request has been submitted properly
This could be money for personal or business purposes. It was difficult to get an emergency loan in Nigeria in the past. These days, you can access a loan app in Nigeria to get a loan quickly without any collateral.
You just need to download the app and install it on your phone. You can also apply for a loan. You don’t need to fill out any paperwork.
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What is the process of Loan apps in Nigeria without collateral?
The way loan apps work is that you download them from your app store. It will be downloaded to your phone. Open the app and enter your correct information. Once your credit score is calculated, you will receive a loan offer. After you accept the loan offer, it will be credited to your account. Your loan must be repaid by the due date.
Most loan applications in Nigeria don’t require collateral or guarantors. You don’t need to worry about this.
For emergencies, loan apps can be very helpful. You can simply open the loan application and request a loan when you have an emergency. Many loan apps are available 24/7.
Money may be needed for rent, school fees, travel, or for business purposes. In such situations, loan apps are always a great resource. It is a good idea to have at least one of these apps on your phone. You never know when you might need it. You can get loan apps for Android, iOS, and Blackberry.
There are many benefits to using Loan apps in Nigeria without collateral
You have many benefits when you use loan apps rather than regular money lenders.
- No collateral is required for loans
- Accessible 24/7
- No paperwork is required
- Flexible payment options
- Always have your phone with you
Get a loan quickly with Loan apps in Nigeria without collateral
These are the best loan apps in Nigeria for a quick loan with no collateral.
1. Carbon (Paylater).
One of the most popular mobile loan apps in Nigeria is Carbon, formerly known as Pay Later. It’s easy to use, and you can quickly get a loan. This app allows you to get a loan of up to N1 million.
Carbon does not require collateral or a guarantor to obtain a loan. You only need to download the app onto your smartphone. Register with all the details you need and apply for a loan. You may receive a loan offer within minutes of completing the application.
The interest rate charged by them can be flexible, ranging from 5% to 15% depending upon the amount and the repayment period.
Pay your loan quickly and easily using the app.
You can download the Carbon app for Android and iOS users from the Google Play Store or the App Store.
Continue reading: How to Get a Loan from Carbon (Paylater).
FairMoney allows you to get loans up to N150,000. It takes just a few clicks. It’s fast, simple, and secure. This app is the most downloaded loan app on Google Playstore.
You just need to download the app and install it on your smartphone. Next, you will need to register with your Facebook account. Next, answer a few questions. Then you’ll be sure to receive a loan offer.
Accept an offer and the money will be credited to your bank account. It’s that simple.
These loans have a flexible interest rate. Your loan can be paid back in installments for as long as 3 months.
To access FairMoney’s service, you can download the FairMoney app via the Google Play Store. This app is only available for iOS, Windows, and Blackberry.
Read: How Fairmoney can help you get a loan
Plamcredit allows you to get an instant loan of up to N100,000. The app is extremely popular in Nigeria. It’s easy to use and operate. Most loan applications are approved within 5 minutes.
You only need to download the app, install it on your phone and then go. Register, apply for a loan, receive approval, and then close the app.
The interest rate ranges from 14% to 24% depending on the amount and tenor. The loan term can be from 91 days up to 180 days. Collateral or guarantor is not required.
You can download the Palm Credit app to get loan access.
The branch is one of the most popular loan apps in Nigeria. The branch allows you to get loans up to N200,000. This is possible without the need for collateral or paperwork.
You only need to download the app and create an account. You can then apply for a loan and get your loan. It’s that simple.
The term of the loan is between 4 and 64 weeks. The interest rate is between 14% and 28%.
This app was featured in Forbes, Bloomberg, and many other publications.
The Branch app can be downloaded from the Google Play Store
5. Abella’s credit
Aella Credit is a mobile lending app that allows you to get a loan of up to N100,000. It is very popular and highly secure.
Download and install the app to get a loan. Register. Complete the application form. You can get a loan quickly.
The loan term is between 30 and 60 days. The interest rate ranges from 4% to 29%.
Download the Aella credit mobile application from Google Playstore.
QuickCheck, a popular mobile loan app for Nigerians, offers instant loans up to N200,000. There are no hidden fees.
You will need to install the app to access a loan. It will need permission to access your mobile data to send you an offer. Once approved for a loan, the money is transferred to your bank account.
QuickCheck allows you to log in with your Facebook account if you forget passwords easily.
Sokoloan, one of the fastest-growing mobile loan apps in Nigeria, is Sokoloan. This app allows you to apply for loans 24/7.
You only need to download the app and install it. Accept these conditions. Sign up. Fill out all information. Apply for a loan. Once approved, you will be granted a loan.
The loan term is 91 to 180 days. They pay 0.35% daily interest.
The Sokoloan app can be downloaded from the Google Play store.
Kiakia, a web application that offers online loans to Nigerians, is called “Kiakia”. Answer a few questions to get loans immediately.
Kiakia uses an alternative method to lend its loan. Access the web app to chat with Mr.Kiaia (a chatbot). You will then be approved for your loan.
You can access the Kiakia web app to get a loan and chat with Mr. Kiakia using your Android, iOS, Windows, and Blackberry phones.
Credit is one of the most popular apps to borrow money in Nigeria and instant loan for personal needs.
Lcredit can grant any loan applicant up to 300,000 depending on these factors in the course of calculating the loan applicant’s credit score, age, monthly income, BVN, and existing debt.
Credit grant soft and instant loans without a guarantor with an interest rate of 11.99% for salaried and self-employed individuals with a maximum limit of 36%.
LCredit is a service created by Cashigo International Limited and the loan app is available on Google Play Store and App Store but only available in Nigeria. The only problem with the Lcredit loan app is that they only grant loans within 2 weeks duration and they will send your debt to all your contacts list.
10. Alat Loan
Wema Bank, a commercial bank in Nigeria owns Alat, Alat has been named the best app to borrow money in Nigeria because of its affiliation with a strong and reliable commercial bank but documentation with Alat might turn you off as you look for an app to borrow money in Nigeria.
Alat can grant up to 2 million nairas to any loan application that can meet the terms and conditions of their loan applications.
The app is available for download on Google Play or the App Store and has loads of information on the Alat website.