Are you looking for which bank gives instant loans in Nigeria? Thanks to Fintech companies, you can now access instant loans in Nigeria without a salary account. Due to degrading economic challenges in the country, people are always out there looking for an instant loan to settle an emergency or some bills. Having a legitimate loan company to get an instant loan in Nigeria is sometimes difficult but there are still some of the best loan apps out there who does so well but sometimes require a salary account. Still, you don’t have to worry again.
This article contains the top ten instant loan apps in Nigeria that can give you a quick loan without a salary account and banks that can give you quick loans without a salary account. With this list, you can easily get something to fund your emergency needs without hassles.
Top 10 Instant Loan Apps In Nigeria 2024
Below are the best loan apps that give instant loans in Nigeria with or without a salary account.
1. Carbon
Carbon is currently one of the best instant loan platforms where you can get an instant loan in Nigeria with or without a salary account or collateral. You can access up to N1,000,000 and receive a cashback in interest if you repay your loan quickly.
With Carbon, you can carry out many transactions, such as paying bills and transferring funds, and you can save money with high interest. Also, Carbon provides business loans for a fair interest rate.
Go to the Google Play Store or IOS App Store and download the app. Register and apply for a loan after reading their terms and conditions. You get your loan transferred to your account immediately when approved. Carbon currently has some licenses from CBN which gives them opportunities to operate beyond being a loan app. So you get the chance to do many things within the same app.
2. Branch App
Branch is another reliable fintech company where you can get an instant loan in Nigeria without stress. Branch just like Carbon is in different countries and headquartered in Nigeria providing seamless loan opportunities for anyone in dire need.
Currently, the Branch is in operation in four countries, including Nigeria. To access an instant loan on the Branch app, you must register with your BVN, account number, Facebook account, and Nigerian phone number. With Branch, you can access loans ranging from N2,000 to N500,000. The good thing is that if you repay your loans on time, your loan limit will increase.
The amount you can get ranges from N2,000 to N500,000. Also, if you repay your loans on time, your loan limit will increase. To start, download the Branch app from the Google Play Store or the IOS App Store.
3. Sokash
Sokash is another reliable platform where you can access an instant loan in Nigeria without a salary account for both short and long an amount up to N5,000,000. The good thing about this platform is that you can get your loan approved and disbursed within 2 hours.
In Sokash, you don’t determine the loan amount, and the platform automatically determines how much loan you are eligible for after verifying your account using your BVN.
To begin, kindly download the Sokash App from your Play Store or IOS App Store.
4. FastCash
FastCash is an initiative of the FCMB bank, where only existing FCMB customers can access an instant loan facility without collateral to attend to emergencies and urgent needs.
You can get an instant loan of up to N200,000. To apply, just dial *329*11# on your mobile phone. Remember that it is only for FCMB’s existing customers. That means that you must have an account with FCMB to access this loan opportunity with FastCash.
5. Aella Credit
Aella Credit is another trusted platform to get instant loans in Nigeria without a salary account.
All you have to do is download the App via the Google Play Store or IOS App Store and get started. You can also get insurance, pay bills, and make legit investments on the app. Loans available here range from N1,500 to N1,000,000, and the repayment duration is 1-3 months.
6. KiaKia.com
Kiakia is a trusted platform where small business owners and entrepreneurs can access instant loans in Nigeria without salary accounts at negotiated interest rates through intuitive conversation.
Kiakia is different from most loan platforms because of its peer-to-peer feature where customers who want to borrow a loan get to meet investors who will invest in your business.
You can get up to N500,000. To start, download the Kiakia app from the Google Play Store or IOS App Store.
7. Fairmoney
Fairmoney is a digital platform where you can access personal loans up to N1,000,000. Also, the app allows you to carry out other transactions, such as paying your bills and enjoying 100 free fund transfers. The loan repayment period is usually from 61 days to 18 months. Interestingly, you can get a 90% loan discount if you repay your loan early.
To start, simply download the Fairmoney loan app from the Play Store.
8. Specta
Specta is another platform where you can access personal instant loans up to N2,000,000 for a repayment period of up to 12 months without a salary account and collateral. However, suppose you are a professional, a business owner, or a self-employed person and belong to the Sterling community. In that case, you can access a personal loan of N5,000,000 for up to 36 months.
Simply download the app from the Play Store.
9. SMEDAN
The Federal Government of Nigeria established the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to help small and medium business owners who are not salaried. To access the loan, you must meet their requirements, after which you can apply. Click here to visit their website to learn more.
10. Grofin
Grofin offered instant loans to business owners who were not salaried. Their loan is specifically for business owners and entrepreneurs who want to start a new business or enlarge their existing business. However, to qualify for this loan, you must have an established business operating for two to three years and an annual turnover of one to five times the loan amount.
Which Bank Gives Instant Loans in Nigeria?
Below are the Nigeria commercial banks where you can access loans without having a salary account in Nigeria.
1. Stanbic IBTC
The Stanbic IBTC bank offers you access to acquire loans without a salary account in Nigeria. The loans can be personal or business loans, with a repayment period of one to five years, and repayment can be made by monthly installment payments.
2. 3FCMB
The Fastcash loan initiative of the FCMB gives you access to instant loans by dialing a USSD code *329#. However, you have to be an existing customer to access this loan.
3. UBA
UBA is popularly known for its “No Wahala Loan,” better translated as a personal overdraft. UBA allows its customers to withdraw or spend more than they have in their account to meet urgent needs, such as medical bills, car fixing, or emergencies. You must be an existing customer of UBA to access this loan.
4. Fidelity Bank
Fidelity Bank is an SME-friendly bank that has earned a good spot in the retail banking sector for its contribution to small and medium businesses. It operates a Fidelity Easy Asset Leasing Scheme (FEALS) where you can access business or personal loans without collateral.
Also, you can use the FEALS loan to acquire household appliances such as laptops, inverters, vehicles, and so many more. It contributes a minimum amount of 20% of the amount within a 48-hour approval time.
Can I get a Loan without a Salary Account?
Yes, you can get a loan without a salary account in Nigeria. All you have to do is to go for the right fintech/loan platforms and banks. Do scroll up to learn more about this as we list the top fintech, banks, and loan companies that give loans without requesting a salary account in Nigeria.
Can an Unemployed Person Get a Loan in Nigeria?
It is possible to get a loan in Nigeria if you are unemployed. However, you must have a good credit history and an alternate source of income. For example, a perper seller can access loans in Nigeria with the Migo loan app. Other banks can also give her a loan without showing a white scholar job. Many factors might be considered to qualify you for a loan and the amount you desire to collect.
In Summary
Before accepting any loan from any platform, ensure you go through the terms and conditions and are comfortable with them. If you have the privilege to negotiate for a better interest rate, please do. For further reading, check out the “List of fake loan apps in Nigeria.”
