Nigerian Banks That Provide Instant Loans Without Collateral

Nigerian Banks That Provide Instant Loans Without Collateral

Nigerian Banks That Provide Instant Loans Without Collateral – Years ago, the title “bank loan in Nigeria without collateral” would have appeared absurdly preposterous. A few years later, we can reliably construct a list of Nigerian traditional banks that offer this service.

This is a recognition of other loan companies in Nigeria. In particular, financial technology firms rule the lending sector. It appears that conventional banks have realized the importance of changing the narrative.

Nigerian Banks That Provide Instant Loans Without Collateral
Other articles are posted by us on websites like Where to acquire an instant online loan in Nigeria: Renmoney loan, Migo, Specta loan, Branch loan, Fint loan, C24 loan, Fairmoney, and Quickteller loan. But for the time being, we’ll just concentrate on the top banks in Nigeria that provide unsecured loans.

List of Nigerian Banks That Instantly Loan Money Without Collateral
The top banks in Nigeria that provide loans with no security are listed below:

FCMB, one of Nigeria’s top financial institutions, is known for providing its clients with top-notch services. FCMB offers the following loans without requiring any security:

1. First City Monument Bank [FCMB] Limited

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Loan for Fast Cash Premium Salary
The USSD code *329# can be used to obtain an immediate loan from FCMB FastCash Loan without providing any security. For further USSD codes for loans in Nigeria, see this post. Here are some articles on FCMB.

2. WEMA Bank

It is simpler to get a loan from WEMA Bank without collateral if you maintain a salary current account or savings account. The maximum loan amount is N2 million, or seven times the borrower’s net monthly earnings. Only confirmed employees are eligible for the 48-hour loan disbursement period of the Wema loan.

3. Stanbic IBTC

Another Nigerian bank that provides loans for both personal and business purposes is the subsidiary of the Standard Bank Group. One of the banks in Nigeria that will provide you a loan without a salary account is this one. The repayment terms range from one to five years. Monthly payments are made within this time frame.

Get a loan in Nigeria for up to N100,000 at the lowest possible rates.

Did you know that you can use our loan simulator to compare interest rates from various lenders and find the best deal? Before committing, it’s important to compare various loan offers in order to make an informed choice. With the help of our simulator, you can quickly compare loan offers from various lenders in less than 5 minutes, allowing you to choose the best financing option. Do it now.

4. Zenith Bank

SME Loans, Overdrafts, Receivable Discounting or Invoice Discounting, LPO Finance, Import Finance Facility, Export Finance Facility, Term Loan, Lease, Bonds & Guarantee, and Retail Loans for Schemes are all loans provided by Zenith Bank.

For instance, borrowing clients can use the Local Purchase Order [LPO] to finance the delivery of materials. In contrast, overdrafts provide the borrower access to a portion of the credit balance in their current account. This is constrained to a specific tenor, which is typically no longer than twelve months. All of these are available to you without the bank requiring collateral. Here is information on how to obtain a loan from Zenith Bank.

5. Fidelity Bank

The SME-friendly bank has won numerous 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 unsecured loans for both personal and business use. FEALS is intended for clients to purchase household appliances, new cars, generators, inverters, computers, and similar items. Its minimal investment is as low as 20%, and approval takes 48 hours.

6. First Bank

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

Private school operators who require additional finances can apply for a FirstEdu loan through FirstBank. It offers a maximum loan sum of N10M with a 9-month account relationship. Additionally, only private schools that have registered with the Corporate Affairs Commission [CAC] are eligible to use FirstEdu. Additionally, it considers the population of 100 students.

7. United Bank for Africa [UBA]

Personal Overdraft and the well-known “No Wahala Loan” are both affiliated with UBA. Borrowers have the authority to spend a little bit more on what they desire with the former. In order to fix your automobile, cover medical expenses, or handle other situations, you might need some extra cash. It’s up to you how you decide to apply your loan.

8. GT Bank

One loan option from GTBank that is very simple and quick to secure is the GTBank Quick Credit. Within two hours of acceptance, the money is in your bank account. The more intriguing aspect of this loan is that you can only apply by dialing a shortcode.

You do not need any papers or supporting documentation, like other applicants. Use the GTBank Quick Credit Loan to easily borrow up to N5 Million.

9. Access Bank

You can obtain a variety of quick and low-interest loan choices from Access Bank using the mobile app called Quick Bucks from Access Bank. Installing the Access Bank Quick Bucks app is all that is necessary to start the process.

Questions and Answers

  1. What do banks check first before giving loans?

Most banks begin by investigating your credit history and rating. They then decide whether to approve your loan application based on how shiny or unattractive it looks. They also take into account things like your income, place of employment, possessions, net worth, and more. Each bank has its own set of specific criteria that they take into account.

Loanspot Africa is the place to go if you need a platform to obtain loans without onerous checks. They provide legitimate loans with the fewest requirements and background checks.

2. How do I convince a bank to get a loan?

It’s not quite possible to persuade a bank to provide you a loan. This is due to the fact that each loan product often has minimal standards that you must meet in order for your application to be accepted. Unless you have a large net worth or valuable collateral you can use as a negotiating tool, you can’t usually persuade a bank to offer you loans.

On the plus side, loanspotafrica offers one of the simplest loans to acquire, so you don’t need to do any persuasion there.

3. How do I know if I qualify for a loan?

Usually, you can find this information on the lender’s website or in the loan qualifying. You only need to check the requirements on their platform. Some advance lenders enable you to create a profile or submit your BVN and learn whether you qualify for a loan right away.

Loan offers are available on other lending sites like loanspotafrica for a variety of people, including those who weren’t approved for loans from traditional banks.


We advise you to perform your research just before applying for a loan from a bank. You should monitor these banks in addition to the information we have already supplied to determine which platform is ideal for you. Additionally, when applying for a loan, you may quickly compare loan offers from other lenders to make the best choices possible. You can also look into other bank loans like the Union Bank loan and the Jaiz bank loan, to name a couple.

Require a loan? Please have a look at our platform, which enables you to quickly compare loans from several lenders. You could then decide what is best for you.

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