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The Best Methods for Obtaining Loans in Nigeria Without Collateral


Are you currently in a bind and in desperate need of money? Do you need a loan right away to take care of an urgent demand? Do you require an unsecured loan? The Top Ways to Get a Loan in Nigeria without Collateral are listed below.

FEW EASY REASONS YOU MIGHT NEED A LOAN

Running out of money or being broke on a specific day is not news, but not being able to take care of yourself when such a need arises could be. For this reason, I'll be demonstrating some incredibly straightforward and straightforward methods for obtaining a loan to protect you on the day when urgent needs arise and the boss or debtor has not yet paid. Following are some explanations for why you might think about taking out loans.


  • Despite the fact that your items have just arrived, you lack the funds to pay the driver. A soft loan may come in handy.
  • The middle of the month comes around, and your children are sent home from school.
  • Your parents have still not sent you any money after your food money ran out.

Due to the fact that you haven't paid for the textbook and your account balance is 0, you are unable to submit the assignment.
  • Your car recently broke down, and you lack the funds to fix it.
The list goes on forever because we all need money for one thing or another. Regardless of the reason, it's crucial to figure it out, and to assist you, we've provided some loan possibilities.






TOP WAYS IN NIGERIA TO GET A LOAN WITHOUT COLLATERAL

The easiest loan option is offered first, followed by two more straightforward choices.




CARBON(PAYLATER)

You can use Carbon, also known as Paylater, to apply for an immediate loan in Nigeria without providing any security. To apply for a loan, you simply need to download their mobile application, complete a brief form, and add your account number. Before requesting a loan, the app will typically ask you to take a selfie and enable location services on your phone.

The amount that Carbon often lends to first-time customers ranges from three thousand naira (N3.000) to ten thousand naira (N10,000), with a repayment period of one month or a weekly option payment available with 30% interest. If you can upload your account statement, you could receive up to $100,000.





PERSONAL LOAN BRANCH APP

Branch is another user-friendly loan app that enables you to obtain a loan right away without providing any collateral. Similar to Carbon's app above, this one offers new users very little money. You are often credited quickly with a weekly payment option or monthly for amounts ranging from one thousand Naira (N1.000) to two thousand Naira (N2,000).




FAIRMONEY

This app, which goes by the same name, is not really different from the two above because it operates under the same conditions and lets you apply for an instant loan with a minimum of between 1,500 and 15,000 Naira (N15,000). I am unable to confirm whether bigger amounts are offered, but you can certainly attempt them.






ETISALAT, MTN, AND GLO.KWIKCASH

Only clients of Etisalat, MTN, and Glo are eligible for this lending option, which can be accessed from any phone with the aforementioned network lines inserted by dialing *561# and following the on-screen instructions. The amount you are able to request with this option mostly relies on how frequently you recharge your etisalat line and how active it is. You must repay the loan within fourteen days (14 days) with interest ranging from five percent to fifteen percent (5% to 15%). The loan amount might range from one thousand Naira (N1.00) to one hundred and fifty thousand Naira (N150.000).



QUICKTELLER LOAN

Although Quickteller is a well-known name in the Nigerian banking sector, I doubt many people are aware that they provide short-term loans. To its registered users, Quickteller offers soft loans in the amount of 1,000 Naira (N1,000) to 10,000 Naira (N10,000). to submit a loan application. You must go to the quickteller website, fill out a brief registration form, enter your account information, and then click the "request a loan" button.After completing the form, you will need to wait a short while for your eligibility to be verified before the amount you are eligible for is revealed and you can move forward. The loan has a 14-day repayment period and a 14% interest rate. To access this loan, you can also call *322*6# from an Airtel phone.


OTHER METHODS IN NIGERIA TO GET A LOAN WITHOUT A COLLATERAL

Most banks now offer loans without collateral in addition to the five choices mentioned above, and some of the banks include:




QUICK LOANS FCMB

If you have an FCMB account, you can access this loan from any mobile phone by dialing *329#. You can use this option to request up to 100,000 Naira.


GTBANK QUICK LOAN AND SALARY ADVANCE LOAN

Guarantee Trust Bank, usually known as GTB, also provides soft loans to its clients at various levels, along with possibilities for rapid loans or salary advance loans. While practically all customers can get a rapid loan, only customers who have salary accounts can get a salary advance loan. Before you may be approved for a rapid loan at GTB, you must keep a minimum balance of 50,000 Naira (N50,000) for a minimum of six (6) consecutive months. By phoning '737# or 737 51'51# from the convenience of your mobile phone, you can submit an application for any of the loans. Depending on the amount, the payback term ranges from one month to many months.You can pay back early by phoning 737'51'52# as another alternative. The monthly interest rate for this loan is 1.75%.

While Nigerians have other loan choices at their disposal. I've taken the time to detail these few and will keep you informed when more flexible alternatives emerge.

Have any of these loan possibilities been used by you? How did you find working with them? Use the comment section below to share with us what you learned so that others might benefit from your experience.

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