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Banks Offering Instant Loans Without Collateral in Nigeria

We all need money, but if you don’t have collateral then your chances of getting approved for a loan are very slim. That’s why payday lenders have developed an instant loan product where they can get cash from their customers without any collateral.

We’ve compiled this list of banks offering instant loans in Nigeria which offer no collateral requirements and so you can get quick access to cash when needed:

Access Bank

Access Bank is a leading financial services provider in Nigeria, offering retail and corporate banking services to individuals, small businesses and large corporations. The bank is committed to providing customers with the highest level of service by providing them with an array of products that meet their needs.

Access Bank’s Instant Loan Service enables you to get cash loans at the lowest interest rates possible by applying online or over the phone through your mobile phone device. The loan amount ranges from N10,000 up to N5000000 depending on your credit rating status as well as other factors such as age group etc..

Zenith Bank

Zenith Bank is one of the leading banks in Nigeria. It offers instant loans without collateral and payday loans with no collateral. You can get a loan from Zenith Bank if you have a bad credit history because they do not require any collateral for their loans.

If you are looking for an easy way to get cash quickly, then this is the right place for you because they also offer payday loans with collateral as well as instant cash advances that can be used to pay bills or other expenses like hospital bills if needed by anyone who needs immediate funds but doesn’t want to wait until their next paycheck arrives because sometimes life happens!


GTBank offers instant loans without collateral. The lender offers loans of up to N10 million, with repayment periods ranging from 12 to 24 months. The loan amount can be raised up to 80% of your total assets, which includes your property or business assets as well as personal items such as cars and jewelry.

In order for you to qualify for a GTBank loan, you must be employed and have a valid bank account with them at the time of application (you can also open an account if it hasn’t been opened before). You will need proof that your source of income meets their requirements; this may include pay slips or tax returns from previous years.


UBA is one of the leading banks in Nigeria. It offers a wide range of financial products and services to its customers, which include mobile banking and credit cards.

UBA also offers payday loans to its customers who need quick cash for emergencies or any other purpose. The bank’s instant loan service allows you to get an amount ranging from N500,000 to N1 million within 24 hours after approval by the bank manager or any supervisor at work who has access to it.

Along with personal overdraft, UBA is known for its well-known “No Wahala Loan.” The former gives borrowers the power to spend a bit more money on what they want. To fix your automobile, pay your medical expenses, or handle other situations, you might need some extra cash. It is entirely up to you how to apply your loan.

Fidelity bank

The SME-friendly bank has won several accolades and recognitions in order to gain entry into the retail banking market. The Fidelity Easy Asset Leasing Scheme [FEALS] is run by Fidelity Bank and provides loans for both personal and business purposes. FEALS is intended for clients to purchase home appliances, new cars, generators, inverters, computers, and similar items. Its minimal investment is as low as 20%, and approval takes 48 hours.

First Bank Nigeria

First Bank Nigeria is a Nigerian bank that offers instant loans without collateral. These loans are for business, real estate and education purposes. The bank also offers instant credit cards with no annual fee or minimum deposit requirement.

The top commercial bank in Nigeria is known to have more than 10 million active client accounts. It offers clients and investors all throughout Africa a wide variety of retail and corporate financial services.

Private school operators who want additional finances can apply for a FirstEdu loan through FirstBank. It offers a maximum loan sum of N10M with a 9-month account connection.

Union Bank Nigeria

Union Bank Nigeria is a leading financial institution in Nigeria. They offer loans of up to N20,000 and these can be availed for 1 to 60 days. The repayment period will be as short as 2 days with no collateral required.

The loan is available for both individuals and businesses, which makes it very convenient since one does not have to go through a lot of headache when applying for such type of loan from banks or other financial institutions in Nigeria.


With banks offering instant loans without collateral in Nigeria, it is a good time for you to get on your feet. However, before applying for this loan you must be sure of the amount required and about the repayment schedule.


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