Are seeking to raise money for a project but find it difficult to access loan without collateral in Nigeria? If your answer is yes, this post is for you. We have carried out extensive research to compile this list of platforms that grant unsecured loans in Nigeria. Technology-driven financial platforms have now made it easy for people to get quick and instant loans with low-interest rates.
In the past, you would have to stake your asset as a guarantee before you can be given a loan, no matter how little the amount. Today, you can borrow up to millions of Naira without the need for collateral. Fintech companies are disrupting traditional financial institutions with innovative digital services. These innovative processes have made it easy and convenient for people to have access to unsecured loans.
The list below is in no particular order. Please go through it and select the one that best suits you. Meanwhile, we generated this list based on acceptability by the general public and market dominance.
Leading Companies That Give Loan Without Collateral
1. StatUP

StatUP is one of the leading savings and investment companies in Nigeria. They have designed a special loan package for their customers to access up to 200k zero-interest loan within 4 months of savings on the StatUP platform. The idea is to empower their customers with cash facilities needed to support their businesses. However, the only requirement is that you must have saved money with StatUP for a minimum period of 4 months without making any withdrawals. Also, your savings score must be at least 50%. The exciting thing about the StatUP loan package is that you will receive 15% annual interest on your principal savings.
You can create your StatUP account and start saving to be eligible to apply for this loan package.
2. Renmoney

Renmoney is another loan company in Nigeria that gives unsecured micro-business loans of up to N4 million. To qualify for this loan, your business must have a good income statement history that guarantees monthly earnings for repayment. Renmoney gives a minimum loan amount of N100, 000 with a 2.8% interest per month.
3. Carbon (formerly PayLater)

Carbon is an instant online loan app that gives you access to an unsecured loan in Nigeria. If you want instant online loans without collateral to help you cover urgent and unexpected cash needs, go for Carbon. The platform will access your Bank Verification Number (BVN) to determine your loan worth. You can access a minimum of N3000 and a maximum of N20 000 000, while the interest rate varies.
The interest rate ranges between 5-15%, depending on your loan repayment period and the amount you wish to borrow.
4. Branch

Branch provides loans without collateral to business owners in Nigeria. You can access as little as N1000 to a maximum of N200 000 within 24 hours on the Branch platform. Depending on your loan amount, you are expected to back between 4-40 weeks. You can easily access Branch loans, but they have an interest rate that ranges from 15% -34%.
The interest rate depends on your repayment history and the cost of lending for the platform.
5. KiaKia


You can access loans from Kiakia as an individual or business entity. Sterling Bank Plc backs this platform. Kiakia also allows savers to lend out funds at negotiated interests. The minimum loan amount you can get from Kiakia is N50 000, with a 3.5% monthly interest rate.
6. Aella Credit

This platform is designed to help employees access more funds with an interest rate between 4%-29%. The minimum loan amount is N1 500, while the maximum is N700 000, and the interest is between 4% -29% every month. Aella Credit offers its services in Nigeria, Ghana, and the Philippines. The loan tenure spans from 1 to 2 months.

Conclusion
Although there are other avenues where you can access loans without collateral in Nigeria, fintech companies lead the way. Today you can easily access loans without worrying about having assets for collateral. Our advice to you is that you should borrow responsibly and don’t just borrow because you can. For contributions and questions, kindly make use of the comment space below.

Flee from loans

StatUp is not only helping people gain loans without interests but also helps them cultivate the savings habit. They make saving so seamless... Better than piggyvest and cowrywise if you ask me

A nice list out of them

But sincerely joining Statup has been a good Journey so far

We also give quick loans without collateral.

Conditions

You must be resident in Lagos

You must be a salary earner

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how do i start up account at stat up