How to get quick online loans in Nigeria without collateral in 5...

How to get quick online loans in Nigeria without collateral in 5 minutes

quick online loans in Nigeria

Before now, it was impossible to get quick online loans in Nigeria. One has to go through those crude and sometimes those “crazy” money lenders in Nigeria or at the very best, go for the SME loans from banks like AB-microfinance bank, LAPO, etc.

But times have changed. Getting personal loans in Nigeria is now almost a stroll in the park, and today, I’m going to show you how to get an instant loan anywhere you are in Nigeria.

While getting an online loan in Nigeria may be somewhat of a new thing to many people here, it isn’t in the other parts of the world, and so to most people here, this may sound like a joke until they have tried it themselves.

Before now, in order to get a soft loan in Nigeria, you had to visit those microfinance banks, like AB-microfinance bank or the more popular one –LAPO. But these days, getting a loan in Nigeria is as easy as dialing a USSD code, answer the prompt and your bank account gets credited.

How to get quick online loans in Nigeria

To get access to the quick online loans in Nigeria, you have to go through one of two processes, either use the USSD code provided by the provider or download their mobile app and of course, I will include a link to download their loan app.

All the online loan providers have either an app made available for your convenience or a USSD code to make the process even simpler such that you may not need data to access the loan.

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Requirements to get an online loan in Nigeria

All you need is provide your details, including the following:

  • Your BVN Number
  • Account number
  • Amount
  • Purpose of loan (depends on the source)
  • And other information deemed necessary.

The top apps to get quick online loans in Nigeria

Below, I will list the top apps from which you can get very quick online loans in Nigeria. (and I will keep updating the list, so remember to bookmark this page or like our Facebook page). They provide you with a loan in less than 20 minutes –it’s as simple as downloading the mobile loan apps, registering and requesting a loan. So without any further ado, let’s get to see the list of top apps to get an online loan in Nigeria

Palm credit instant loan

quick online loans in Nigeria Palm Credit loan App

Get Your Palm credit instant loan app here


Carbon or paylater personal loans in nigeria

Get Your Carbon loan app here


Branch personal Online loan in nigeria

Get Your Branch loan app here

Fair money

fair money money lenders in nigeria app

Get Your Fair money loan app here

Quick check loan

quick check personal loan app

Get your Quick check loan app here

How to raise your borrowing limit

Online loans in Nigeria comes with certain borrowing limits, depending on your history. When you first apply for an online loan, you’d be given a particular sum. You can only borrow a higher amount if you improve your credit score.

Your credit score is a rating which is put in place to rank those who have a bad record and those who pay back promptly as at when due. If you borrow and pay back when your loan is due, your credit score will improve, if you don’t pay back your credit score will drop. The higher your credit score, the more money you are eligible to borrow, the lower your credit score, the lower the amount you can borrow, and before you know it, no platform will be willing to lend you money if your credit score is so poor.

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How to increase your credit score in Nigeria

To increase your credit score, all you need to do is pay back your loan when you borrow and do not default. If you have any reason why you may not be able to pay back, you should contact your institution, so they may extend your payback date. But you should also know that extending your payback date may increase the interest you’re paying back.

Before requesting a loan in Nigeria

Many people do not know why they need a loan, or why they don’t. I have to say this, it is not for every purpose you have to get a loan. There are certain reasons for which loans are best collected. Bearing in mind that every loan in Nigeria and anywhere in the world has a string attached (that is, you have to pay interest on the capital). No matter how a soft loan it is, you have to pay some interest on every loan, so before proceeding for any loan, ensure you are requesting for such loan for the best reasons.

Why request a loan

Having stated the above, it is important to note why you may need a loan in Nigeria. I will list only a few reasons why you should go ahead to request for a loan in Nigeria or anywhere at all.

  1. Starting a business
    2. Pay for or carry out an urgent medical expense
    3. Pay for school fee (still a bad reason though)

We cannot predict when we may need a medical care, so there might be an urgent need for cash to treat yourself or a loved one when you are cash strapped, for this, you may request a soft loan. However, it is always advisable to have an emergency fund. If you do, there may be no need for an instant loan, unless you have exhausted your reserve.

Paying for your school fee shouldn’t warrant requesting for a loan unless you used your reserved fee for health care. Otherwise, you should have saved through the semester or work through the holiday.

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The best reason to request a loan in Nigeria and anywhere in the world is to invest in or start a business. This way, the business repays the loan and of course, the interest and also gives you returns. This is what Robert Kiyosaki calls using “other people’s money (OPM) to create wealth”.

So having learned how to get quick online loans in Nigeria, what are you going to do with this opportunity? Let us know in the comment area below. Don’t forget to share this, someone on your timeline needs to get this information on how to get quick online loans in Nigeria to improve their business –they’ll be grateful to you.

Bisco is a high-performance coach, a personal finance strategist and an online business consultant. As a pro-blogger, I can help you succeed in or taking your business online.



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