How to Get Loan in Nigeria without Collateral

Whether we like it or not, we’ll always find ourselves in a situation where we need Good Debt. No matter how rich you are, there are times when you are in an emergency situation whereby you need cash to meet a particular need. In the past, traditional banks were the only place to run to when we need either short term or long term loan. Unfortunately, the rigorous processes of obtaining bank loans were the major obstacles to getting any loan from the bank. The good news is that today, you don’t need to go to bank to get a loan to meet an urgent financial need! There are mobile apps that can offer you quick short term or long term loan within the comfort of your home. In this article, we’ll show you how to get loan in Nigeria without collateral. All you need is a smart phone and Internet connection.

The requirements needed from you by most of these Apps are your first and last names, BVN, phone number linked to your BVN, bank account details and debit card with minimum of N30 for card binding and verification. Below are tested and trusted mobile applications that can give you quick loan in Nigeria without collateral.

PalmCredit
PalmCredit is the first app on how to get loan in Nigeria without collateral. PalmCredit is an online loan app or a platform where you can apply for your loan without paper work and it’s also does not require any collateral.  PalmCredit loan amount is from ₦2,000 to ₦100,000. The interest rate varies with the loan days: 7 days 8% 14 days 12% 21 days is 18% 28 days 24%. PalmCredit age limit that is eligible is from 25 to 50 years. The customer must have a regular and stable income too. All information must be correct to ensure successful application. ₦100, 000 Limit is only ONE STEP away! Click here to test your limit.

Carbon
Carbon (formerly PayLater) is another app on how to get loan in Nigeria without collateral. You can loan up to ₦500,000 from Carbon without collateral. Their interest rate is quite low and they offer loan term up to 6 months. You can also use the app to access other amazing financial services such investment, funds transfers and bill payments. Try Carbon now and you’ll be glad you did!

FairMoney
The last but not definitely the least on our list of how to get loan in Nigeria without collateral is FairMoney.  You can loan up to ₦500,000 from FairMoney without Collateral. Their interest rate is quite low and loan tenure is up to three months. Click here to see how much you can loan.

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