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5 Loan Apps Offering Instant Loans Without Collateral in Nigeria

Nigerian consumers are always looking for ways to get a loan. With an increasing number of people in Nigeria who have access to smartphones, it’s easier than ever before to access these loans and use them to improve your financial situation.

5 Loan Apps Offering Instant Loans Without Collateral in Nigeria

There are many apps available on the market today that offer instant loans without collateral, so it’s important that you know which ones are best for your needs.


Paylater is a Nigerian online lender that offers short-term loans at affordable interest rates. Short-term loans are made available to individuals and small companies in Nigeria through Paylater, a simple and fully online lending platform, to aid with unforeseen costs or urgent financial demands.

You may obtain an unsecured loan of up to 500,000 Naira with Paylater. Within one to three business days after your application is accepted, you should get your money. Your next loan’s credit limit may increase if you make on-time repayments.

Paylater offers loans of N50,000 to N1 million (with an annual interest rate of 8%). This can be a great option for those who need fast cash but don’t have much collateral or credit history to offer as security for their loan application.


Renmoney is a peer-to-peer lending platform that allows Nigerians to get a loan from N5,000 to N1,000,000 with an interest rate of 10% per annum. The best thing about this application is that it doesn’t require collateral for you to get funding for whatever purpose you need it for.

To apply for a loan on this platform, all you have to do is fill in their online application form and submit your details including your bank account number, mobile number and email address before they approve or decline your request based on some factors such as credit score (if applicable), income level etc..


Carbon is a peer-to-peer lending platform that offers loans for business and personal use, including home improvement projects, car repairs and more.

Carbon is available on the Android and iOS platforms. The app has been downloaded by more than 1 million users worldwide so far.


Quickcredit is one of the most popular instant loan apps in Nigeria. It offers loans between N500 and N25,000 with a minimum of N500, and maximum limit of N25,000.

The amount you can borrow depends on your credit score, which varies from individual to individual based on factors like age, location etc.

To get approved for a loan through quickcredit’s website or mobile app: 1) Sign up as new user 2) Fill out an application form 3) Upload documents (such as proof of address or identity document) 4) Get approved for a loan. The entire process takes less than five minutes. 5) Get money deposited into your bank account.


FAST CREDIT is a quick loan app that offers you a quick, easy and convenient way to get money. The app can be used on both Android and iOS platforms. You can get up to N100,000 in your bank account within minutes of applying for the loan.

In addition to business loans, they also provide easy and quick “all-purpose” cash loans to employees of corporates, including bankers, TELCO employees, insurance and other financial institution employees, FMCG employees, pharmaceutical employees, aviation employees, oil and gas employees, etc., to help them urgently meet their customers’ needs.


With the help of the online lending site Specta, you may get up to 5 million Naira in loans in only one transaction! No paperwork, no collateral, and no trips to any offices. You may handle urgent personal and professional demands anywhere, at any time, using Specta.

You may borrow money through Specta without entering your BVN, which is another legitimate loan app. Basically, you need to go down to the “Financial Services” section of this app and choose “Loans” to obtain loans. You will receive your loan in a matter of minutes after providing all the necessary information.


If you’re looking for a fast and simple way to get a loan, these apps can help you out. They offer instant loans without collateral or verification of your identity or previous debts. Most importantly though, they’re all free!


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