Where can I borrow money urgently in Nigeria? [9 Good Platforms]

Abuja, Nigeria – September 4, 2015: Central Bank of Nigeria headquarters building seen from the street, National Ecumenical Centre in background.

Putting up the headline “bank loan without collateral in Nigeria” a few years ago a typical Nigerian man would definitely reply with “that’s mission impossible”. Several years later, we can confidently compile a list of Nigerian traditional banks where you can borrow money when urgently in need of money in Nigeria.

This is to recognize the existence of alternative loan providers in Nigeria. In particular, the lending industry is dominated by financial technology firms. According to reports, conventional financial institutions are aware that they need to alter their story.


NB: We also publish content relative to loans in gyfinances. Some examples of Nigerian online loan providers include Renmoney, Migo, Specta, Branch, Fint, C24, Fairmoney, and Quickteller. But for the time being, we’ll just look at the best Nigerian banks that provide unsecured loans.


Some of the best Nigerian banks Where you can borrow money urgently are listed below.


1. First City Monument Bank [FCMB] Limited.

FCMB is committed to maintaining its status as one of Nigeria’s premier financial institutions by providing unmatched support to its clientele. In the absence of collateral, FCMB offers the following loans:

  • Payday Loans
  • Premium Salary Loans
  • Fast Cash Auto Loans

You can get an instant loan without collateral by dialing the USSD code *329# and applying for an FCMB FastCash Loan. You can find some if you’re looking for a loan in Nigeria using a USSD code. Discover more about FCMB by clicking here.

2) The WEMA Financial Institution

WEMA Bank makes it simpler to get a loan without collateral if you have a Savings or Current Account with the bank. Seven times your net monthly salary is the maximum loan amount, up to a maximum of N2 million. Wema loans are only offered to verified employees and have a 48-hour loan disbursement policy.

3. IBTC Stanbic


The Standard Bank Group’s Nigerian branch is one of many financial institutions in the country that provides loans to local companies and individuals. If you need a loan in Nigeria, this is one of the few institutions that will work with you if you don’t have a regular paycheck coming in.

Loan repayment terms range from one to five years. Monthly payments are due during this time frame. However, in Nigeria, you can get a loan of up to N100,000 at extremely low-interest rates.

Did you know that with a loan simulator, you can easily compare interest rates from multiple lenders to find the best deal? Loan comparison is essential for making a well-informed choice.

As a result of using a simulator, you can compare loan offers from multiple lenders in under 5 minutes and make an informed choice about your financing. use the loan simulator here

4. Zenith bank


Small and Medium-Sized Enterprise (SME) Loans, Overdrafts, Receivable Discounting or Invoice Discounting, Lease Purchase (LPO) Finance, Import Finance Facilities, Export Finance Facilities, Term Loans, Leases, Bonds & Guarantee, Retail Loans for Schemes are all available from The Zenith Bank.

Lending clients, for instance, can take advantage of the Local Purchase Order [LPO] to fund the acquisition of materials. However, with an overdraft, the borrower is given access to funds in excess of the available credit in their checking account.

This has a limited duration, typically no more than a year. The bank won’t require any of these as collateral because you have access to them. Learn more about Zenith Bank’s loan processes here.

5. Fidelity Bank


The small and medium-sized business-friendly bank has won several awards and accolades, solidifying its place in the competitive retail banking market. Fidelity Bank’s Fidelity Easy Asset Leasing Scheme (FEALS) provides unsecured loans for both businesses and individuals.

Customers can use FEALS to buy things like refrigerators, washing machines, TVs, air conditioners, generators, inverters, laptops, and the like. With a 48-hour approval period, its minimum contribution is significantly lower than average.

6. The First Bank

Over 10 million people in Nigeria have accounts at the nation’s leading commercial bank. It serves customers and investors throughout Africa by offering a full spectrum of retail and corporate financial services.

For private school operators in need of extra funding, FirstBank offers the FirstEdu loan. With a 9-month account relationship, you can borrow up to N10M.

To add to that, FirstEdu is restricted to private institutions that are CAC-approved. A population of 100 students is also considered.

7. UBA (United Bank for Africa)

UBA’s “No Wahala Loan” and “Personal Overdraft” are two of the bank’s most well-known products. Borrowers have more discretionary funds with the former option.

To take care of unexpected expenses like car repairs, medical bills, or even just a night out on the town, extra cash may be necessary. It’s up to you how you put that loan to use.

8. GT Bank

One GTBank loan option that is quick and simple to apply for is GTBank Quick Credit. After being approved, the money is deposited into your account within two hours. Getting this loan is exciting because all you have to do is dial Dial the ussd code *737*51*51# and follow the guide.

No special forms or proof of identity are needed to apply. The GTBank Quick credit loan makes it possible to borrow up to N5,000,000.

9. Access Bank

Use the Access Bank Quick Bucks app on your mobile device to get instant access to various short-term loans with low-interest rates from Access Bank.

In order to get started, download the Access Bank quick bucks app.

FAQ [Frequently Asked Questions]


1. What do banks check before giving a loan?

When you apply for a loan, the majority of financial institutions will first check your credit score and history.

The quality of your credit report will determine whether or not you are approved for a loan.

Income, employment, assets, net worth, and other factors are also taken into account. The specific criteria that each bank uses to make its decisions differ.

loanspotafrica.com is a good place to go if you need a loan and don’t want to go through a lot of hassle to get it.

They provide legitimate loans with some of the fewest prerequisites and verification processes available.

2. How do I convince a bank to get a loan?

A bank will not likely give you a loan unless you have some very convincing arguments. This is due to the fact that, typically, there are base requirements for each type of loan that you must meet before your application will be approved.

You can’t exactly convince a bank to give you loans unless you’re either extremely wealthy or have valuable collaterals to lay down as part of the bargaining chip.

loanspotafrica.com is one of the simplest loan providers to work with, so you won’t have to waste time trying to persuade anyone of anything.

3. How do I know if I qualify for a loan?

Borrowers can typically find this data on the lender’s website or loan application. Going to their site and looking over the prerequisites is all that’s needed.

It’s possible to find out instantly whether or not you qualify for a loan from certain advance lenders after creating a profile or providing your BVN.

paymyrent.ng is one such alternative lending platform that provides loans to a wide range of borrowers, including those who may have been turned down for a loan by a traditional financial institution.


We suggest you do your research before applying for a loan from a bank. In addition to the details, we’ve given you, keeping an eye on these financial institutions will help you choose the best platform for your needs.

Furthermore, you can quickly and easily compare loan offers from various lenders to make the most educated decisions possible.

Last but not least, you can also look into other loan options at other banks, such as the Union Bank loan and the Jaiz bank loan.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like