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13 Online Collateral-Free Loans


Do you need a collateral-free loan, and want to skip the kind of documentation

your bank may require? Worry no more.


Get on your keyboard. Here is a list of 13 digital platforms where you can borrow money, online:


Aella Credit


  • Requirements: Bank Details, including Bank Verification Number (BVN) and Employer

Registration (for pre-registered borrowers).

  • Platform: Android.
  • Interest rate: 20 percent to 27 percent for out of network loan, and One percent to 14 percent for in-network loans.
  • Minimum/Maximum amounts: N1,500  to N90,000, and N5,000 to N720,000 (for in-network loans).
  • Tenor: One month.
  • Guarantor: Next of Kin.
  • Processing fee: N30.
  • Repayment: Debit Card.

Website: www.aellacredit.com



  • Requirements: Bank Details, Bank Verification Number (BVN) and Facebook Account.
  • Platform: Android.
  • Interest rate: 20 percent.
  • Minimum/Maximum amounts: N1,000 to N200,000.
  • Tenor: One month.
  • Repayment: Debit Card, Auto-debit, Mobile-Banking app.

Website: www.branch.com.ng



  • Requirements: Bank Details and Personal Documents (Passport Photo, Personal ID,

Proof of Employment, Bank Statement, Direct Debit Mandate and Post-dated Cheques).

  • Platform: Web.
  • Interest rate: Four percent and higher.
  • Minimum/Maximum amounts: N70,000 to N3,000,000.
  • Tenor: One to Nine months.
  • Repayment: Debit Card, Direct Deposit.

Website: www.c24ng.com



  • Requirements: Bank Details, Proof of Employment and Selfie (Of borrower holding ID Card).
  • Platform: Android.
  • Interest rate: 20 to 30 percent.
  • Minimum/Maximum amounts: N2,500  to N100,000.
  • Tenor: One month.
  • Guarantor: Next of Kin.
  • Verification charge: N50.
  • Repayment: Direct Debit.

Website: www.fairmoney.ng



  • Requirements: Bank Details, Bank Statements and Identity Card.
  • Platform: Web.
  • Interest rate: Nine to 39 percent.
  • Minimum/Maximum amounts: N20,000 to N1,000,000.
  • Tenor: Two to 12 months.
  • Repayment: Debit Card, Direct Deposit.

Website: www.fint.ng



  • Requirements: Bank Details, Employment Identity Card.
  • Platform: Web.
  • Interest rate: 5.6 to 24 percent.
  • Minimum/Maximum amounts: N10,000 to N5,000,000.
  • Tenor: Seven to 30 days.
  • Repayment: Debit Card, Direct Deposit.

Website: www.kiakia.co



KwikCash by 9mobile

  • Requirements: 9mobile Line and Bank Details
  • Platform: USSD (*561#)
  • Interest rate: 10 to 20 percent.
  • Minimum/Maximum amounts: N500 to N500,000.
  • Tenor: 14 to 30 days.
  • Network fee: N20 per transaction.
  • Repayment: ATM, Debit Card, USSD and Direct Transfer/Deposit

Website: www.kwikmoney.com



  • Requirements: Government ID Card, Employment ID and Salary Account with Nigerian Bank.
  • Platform: Web.
  • Interest Rate: 28 to 31 percent.
  • Minimum/Maximum amounts: N5,000 to N30,000.
  • Tenor: One month.
  • Repayment: Direct Debit.

Website: www.payconnect.ng




  • Requirements: Bank Details, including Bank Verification Number (BVN).
  • Platform: Android.
  • Interest rate: Five to 30 percent, depending on credit rating.
  • Minimum/Maximum amounts: N10,000 to N100,000.
  • Tenor: 15 to 90 days.
  • Validation charge: N100 on first transaction.
  • Repayment: Debit Card, Quickteller and Direct Transfer.

Website: www.paylater.ng



  • Requirements: Bank Details, Facebook Account and Income Stream.
  • Platform: Android.
  • Interest Rate: One percent per day.
  • Minimum/Maximum amounts: N30,000.
  • Tenor: Five to 30 days.
  • Repayment: Debit Card, Direct Deposit.

Website: www.quickcheck.ng


Sharp Sharp by Credit Direct

  • Requirements: Bank Details, Supporting Documents.
  • Platform: Web.
  • Interest rate: 3.4 percent monthly
  • Minimum/Maximum amounts: N100,000 to N2,500,000.
  • Tenor: One month or longer.
  • Repayment: Direct Debit.

Website: www.creditdirect.ng



  • Requirements: Bank Details, Employer Registration.
  • Platform: Web.
  • Interest rate: Depends on loan amount and repayment schedule.
  • Minimum/Maximum amounts: Based on borrower’s monthly salary.
  • Tenor: One to 12 months.
  • Repayment: Monthly deduction from salary.

Website: www.snapcredit.ng



  • Requirements: Bank Details, Supporting Documents.
  • Platform: Web
  • Interest rate: 7.5 to 58 percent.
  • Minimum/Maximum amounts: N50,000 to N5,000,000.
  • Tenor: One to 12 months.
  • Repayment: Cheques, Direct Debit/Deposit.

Website: www.zedvance.com

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