Each one of us needs money at times to take care of wanted/ emergency issues which can not be solved solely by depending on savings or salary. So seeking for an instant online loans in nigeria in such a circumstances will be viewed as a good option.
There are many loan sites in Nigeria that claims to offers quick online loans in Nigeria without collateral. Some are legit, while some are scam.
But in this guide, i will review what i think are they best money lending platforms in Nigeria that offers maximum protections, and are also registered by the Nigeria credit bureaus (NCB) who are in charge of credit regulations in Nigeria. But before than, lets fish out the reasons why you need to borrow money from any of these loan companies in Nigeria.
Why Borrow From These Loan Companies in Nigeria
Here is one of the best reasons you need to borrow from these money lending companies in Nigeria:
1. Fast Loan Disbursement
You can fill out your loan application form and apply for a loan within 5 minutes and your money will be disbursed into your bank account instantly, or within 24hrs.
They offer more than one loan repayment channels which provides you with many options to pay back your money.
3. No Collateral/Hidden Charges
All these loans companies in Nigeria listed below offer loans without collateral or documentation. When you apply for a loan and get accepted, loans disbursement takes place instantly without any hidden charges.
4. Great rates
They have the most competitive interest rate in the market which makes them top choice when it comes to consumer lending.
Top 10 Websites that offers quick and Instant Online loans in Nigeria without collateral in 2020
1. Carbon – Best loan site in Nigeria
Carbon is a financial service provided by one finance and investment ltd (RC 1044655), license & regulated by the central bank of Nigeria (CBN). Headquartered in Lagos, Nigeria. Carbon are a global company of over 90 employees with operations in Nigeria, United States and England.
Carbon gives out quick online loans in Nigeria up to N30million to business owners, and up to 1Million to salary or non-salary earners without collateral anywhere you are either at home, office or work. As long as you have an internet connectivity with data connection on your mobile phone.
Apart from giving out loans to individuals, carbon also has an investment platform that allows you to earn up to 16% per annum when you invest with payvest. You can also pay bills, recharge airtime, check your credit score or transfer money to any bank account in Nigeria through the carbon loan app.
2. Page Financial – Talking you further
Page financials is among the leading technologically innovative retail finance institution license by the central bank of Nigeria (CBN). Which offers outstanding products and services to suit the financial requirements of their diverse clientele. That’s according to its web portal.
Founded in 2014, and up till now, they have delivered retail financial services in an unprecedented manner to its users. Page as it is regularly called gives instant online loans in Nigeria up to N5million with amazing interest rates making it one of the best loan agencies in Nigeria.
3. Rosabon Financial Service – Loans for the way you lives
Rosabon financial services is a member of the concept group. License by the central bank of Nigeria (CBN) and being a long standing member of the equipment leasing association of Nigeria (ELAN), With offices in Abuja, Lagos and Port Harcourt.
The organization has evolved into Nigeria’s leading non-banking financial intermediary and equipment leasing firm focused on niche and general markets. They offer loans to Nigerian consumers up to N1.5 million for a period of 10 months or more based on the loan packages you selected.
With over 23 years of experience in the field of finance management, tailoring our lease, loans and investment offerings to meet the financial needs of it’s borrowers either on a long or short term.
4. Lydia – Quick loans in 5 minutes
Lidya is a USA holding financial institution that provide access to credit and finance across frontier and emerging markets. They provide quick online loans in Nigeria up to N30million to business owners in Nigeria and in some other countries to expand or build their business and generate more income.
To assess credit risk lidya uses close to 100 data points to evaluate businesses, build a credit score unique to each business, and disburse loans in 24 hours or less.
5. Renmoney – Building solutions to make financial inclusion count.
Renmoney, previously called Rencredit is a fintech lending company in Nigeria, operating under a micro-finance banking license in Lagos, Nigeria. Regulated by the central bank of Nigeria (CBN) and insured by the Nigeria deposit insurance co-operation (NDIC).
Renmoney offers instant online loans in Nigeria up to N6million without collateral to individuals through their website, contact center, branches and gent network. Which can be repaid in 2 – 12 months time. All the loan process and disbursement takes place within 5 minutes.
Aside from lending, they has two investment products: Fixed Deposit – A tenured investment with up to 21% on a minimum of N200,000 deposit fixed for 30 days – 360 days and Target Savings – A high yield savings account with 10%p.a. interest on a minimum of N20,000 monthly savings.
6. Fairmoney – Instant loan payment
Fairmoney is a license online lending company in Lagos. Fairmoney provides quick and instant online loans in Nigeria up to N500,000 to individuals through its app which can be downloaded and installed via Google play store.
Fairmoney are one of the, if not the best loan platforms that offers 24hrs loan in Nigeria and aside from lending, they also offers bill payments and you can earn 10% discount when you recharge airtime and data, or, renew your cable TV subscriptions through the fairmoney app.
7. SMEDAN – Techtink solutions
SMEDAN which stand for – small and medium enterprises development agency of Nigeria. is a government-backed initiative that offers instant online loans in Nigeria up to N5million without collateral to Nigerian Small and Medium Enterprise (SMEs) businesses in need of funds and repay in 4 months time.
Although SMEDAN does not necessarily provide the loan on it’s own. While they occasionally disburse loans themselves, they only act as the middle man between Micro, Small and Medium Enterprise (MSMEs) and loan provider’s.
Aside funding, they also provide business owners with free training and support for smooth running of their business. This move was initiated by the need to make loans products easily accessible to entrepreneurs and investor’s.
8. Kiakia Loan – Swift loan, Smart lending
Kiakia is a business that specializes in money lending through its website. Kiakia is authorized and regulated by the money lenders act cap 52. They are registered trademark of kiakia bits ltd that offers quick, instant and emergency loans up to N200,000 to individuals and repay on your next payday, or, in 30 days time.
Kiakia make use of a virtual agent who paraded himself as Mr.K which guide you through the process of getting loan upon visiting the site and also to perform other task such as: creating of account; knowing your credit score; your interest rate and repayment schedule etc.
9. Branch – Personal finance loans
Branch is one of the best online loan lending platforms headquartered in Lagos, Nigeria. Branch makes it easy for you to access loans within seconds through it’s loan app or via it’s website anytime, anywhere. You can apply and borrow up to N200,000 instantly without collateral with a maximum repayment tenor of 15 months term.
Branch makes getting personal loan in Nigeria much easier by using the data on your phone including your SMS history to verify your identity and automatically make lending decisions. The encrpt the data you choose to share with them and protect your privacy which can never be revealed to any third party.
10. C24 – Quick loans within a seconds
C24 is a financial institutions in Lagos, Nigeria. that provides loans up to N5million without collateral for consumer’s in need of quick financial solutions. The company is focused on delivering services that can be accessed online, from any internet enabled device anywhere within Lagos.
C24 offers flexible interest rate and a repayment tenure of 12 months term. Making them to be among the best loan lenders in Nigeria that offers loans via it’s website.
11. Migo (Kwikmoney) – Instant Online Loans in Nigeria
Migo formerly kwikmoney or kwikcash is a cloud based platform that enables companies to offer instant online loans in Nigeria to their customers, augmenting traditional bank and payment card infrastructure through its website.
Migo is available for all individuals, salary earners or small scale business owners who are in urgently need of a loan either to help bolster their business, or for other personal issues such as; medical issues, traveling, wedding, family issues and so on. You can apply for migo loans within 5 minutes and get up to N500,000 with a maximum repayment tenor of 30 days.
Companies like banks, telecommunication operators and merchants integrate Migo in their apps and migo underwrites customers to provide them with a digital account and credit card. The customers can use this credit line to make purchases from a merchants or withdraw cash without the need for point-of-sale hardware or plastic cards.
12. Sokoloan – Fast loan, quick online cash in Nigeria
Soko lending company, also known as sokoloan is a microfinance institution based in Lagos, Nigeria. They provides short time online loans in Nigeria up to N100,000 without collateral to low income entrepreneurs, Grassroots employees of SMEs, women with entrepreneurial needs, students, traders and small scale farmers, shopper’s with consumer needs, to help cover unexpected expenses or urgent cash needs.
You can apply for a sokoloan loan 24 hours a day, 7 days a week with their quick application process that let’s you know your status within minutes of applying for loans. All loan process can be done upon downloading and installing the sokoloan app via Google play store in Nigeria.
13. PalmCredit – Instant loan app in Nigeria
Palmcredit is owned by Transsnet Financial Ltd and operate in Nigeria with better plan to expand to other countries in Africa.
They offer a short term online loans in Nigeria up to N100,000 without collateral to individuals/ or, small scale businessmen who are urgently in need of capital either for personal needs or for business purposes and they have a chance to repay in 360 days time.
All loan application in Nigeria can only be accessed through the Palmcredit app which can be downloaded and installed from Google play store.
14. 9ja cash – Quick loan app, get instant money anytime
9ja cash loan provides quick online loans in Nigeria up to N300,000 with no collateral, to individuals, salary earners, or small scale business owners through it’s App.
Each one of us needs money at times to carter for our needs which could not be met solely by depending on savings. So seeking for loans in such difficult moment will be a perfect idea and 9ja cash quick loan app is right their for you.
They make getting a personal loan as easy as ABC by using the data on your phone including your SMS history to verify your identity and create a credit score. They encrypt the data you choose to share with them and protect your information.
15. Zedvance – Quick loans in 5 hours
Zedvance is a consumer finance company founded in Nigeria in the year 2014. They provides quick online loans in Nigeria to individuals and groups without collateral in the most efficient and convenient manner and also provide travel loans to people who wish to travel abroad for education or business purposes.
Zedvance gives you funds up to N5million with low interest rate to its users, with its repayment period ranging from 3 to 18 months period upon downloading and installing the zedvance loan app via google play store.
All they loan companies in Nigeria listed in this article that provides quick and instant online loans in Nigeria are all registered and regulated by the Nigeria credit bureaus (NCB) who are in charge of credit regulations in Nigeria. So feel free to borrow fund’s anytime, any day from anyone of them.