Where to get collateral-free personal loans online in Nigeria


Accessing personal loans has taken a different dimension with a couple of service providers giving out collateral-free loans without the need a proof of employment or even a visit to a banking hall for some paperwork.

The repayment period for these ranges from 14 days to 6 months, depending on the providers. The maximum amount one can access initially is dependent on the provided information, and requested funds are transferred almost immediately.

Below are some of the providers of such personal loans in no particular other.


  • Requirements: Valid bank details and BVN
  • Platform: Android
  • Interest rate: 5% to 30%, depending on credit rating
  • Loan tenure: 15 days to 6 months
  • Multiple loans at a time : No
  • Repayment channels: Debit Card, Quickteller and direct transfer

To access personal loans from Paylater, all you need is an Android device, data connection and valid bank details. Paylater claims that users that repay on-time have access to a higher credit limits. There is a validation charge of ₦100 on the initial loan.


KwikCash by 9mobile

kwikcash quick personal loans

  • Requirements: A 9mobile line and valid bank details
  • Platform: USSD (*561#)
  • Interest rate: 10 – 20%
  • Loan tenure: 14 days
  • Multiple loans at a time : No
  • Repayment channels: ATM, debit card, USSD and direct transfer/deposit

The entire process of borrowing starts and ends with *561# , from a 9mobile line. You can access up to ₦100, 000 and you get the loan within 3 minutes. In case you are wondering what happens when you port to another network, you can choose to pay using any of the available payment channels. There is a network fee of ₦20 per loan.

Aella Credit

  • Requirements : Valid bank details, BVN and employer registration (for in-network loans)
  • Platform: Android
  • Interest rate: 20% – 27% for out of network loan
  • Loan tenure: One month
  • Multiple loans at a time : No
  • Repayment channel(s): Debit card

Aella Credit has two options: in-network — for users whose company is registered on the platform — and out-of-network, that caters for people whose company is not registered. The in-network option promises higher loan amounts at lower interest rates.

Part of the information requested on registration include details of your next of kin, and there’s a processing fee of ₦30.


  • Requirements: Employer registration, valid bank details
  • Platform: Web
  • Interest rate: Function of the amount of loan and its tenure.
  • Loan tenure: 1 to 12 months
  • Multiple loans at a time : Yes
  • Repayment channel: Monthly loan repayments are deducted from salary

SnapCredit serves as a medium for employers who do not want to give direct loans to their employees, by providing employees with instant access to money with no paperwork.

One outstanding feature of SnapCredit is that it allows you take another loan even with a running loan. However, you can’t borrow beyond your credit limit.




You can visit the website of VitaLoans and get some assistance form their experts. With their help you will be able to compare services that can give the loans with their conditions and requirements.