It is possible to get a car loan in Nigeria without collateral. Everyone hopes to get a car for themself which they can use to go about their daily businesses. If your business involves you moving from one location to another in order to meet appointments, it wouldn’t be a bad idea for you to get a car for your comfort.
One problem you might encounter if you try to take a loan is getting a loan plan that fits your desire. Most loan companies demand collateral when giving out car loans. However, there are few banks that don’t require any collateral if you need a car loan.
List of Banks Offering Urgent Car Loan in Nigeria without Collateral
Right below is a list of banks where you can get a car loan without collateral.
- Stanbic IBTC
- Access Bank
- Standard Chartered Bank
This is the first Bank that should come to your mind if you are looking for a car loan in Nigeria without collateral. At UBA, you can get access to different types of loans from car loans to mortgage loans and so on. They have a very flexible repayment plan that doesn’t put a strain on your pocket when it’s time to pay. Their repayment plan goes as long as 3 to 5 years. If a car loan is what you need, this bank should be at the top of the list. The requirements with this bank for getting a car loan in Nigeria with no collateral are pretty easy.
To apply for an urgent car loan from UBA, CLICK HERE.
2. Stanbic IBTC
This is also another option if you are looking for banks that offer car loans with no collateral in Nigeria. Stanbic IBTC offers you a car loan amount of up to #15 million. Their loan processes are pretty fast and you will get credited within days of requesting a loan as long as you meet the requirements. They also have a repayment period of up to 48 months. This loan offer is available to new and existing customers. They also offer good features such as low-interest rates and electronic payments.
To apply for an urgent car loan from Stanbic IBTC, CLICK HERE.
3. Access Bank
This is one of the special or unique features of Access bank. Access bank offers different types of loans for different customer purposes and you can get a car loan in Nigeria without collateral with the bank. If you need a loan for your house, education travels, or business, Access bank should be your go-to option. With Access Bank, you can get a car loan with up to 48 months repayment period. You also do not need collateral to get the loan. You’ll also enjoy features such as good pricing, low-interest rates, and much more if you take a loan with them. Walk into any Access bank today and begin your car loan journey.
To apply for an urgent car loan from Access Bank, CLICK HERE.
FCMB is also another bank you can use if you are looking for a bank that can give you a car loan in Nigeria without collateral. FCMB offers new and existing customers various loan packages which would be at your own convenience. You don’t have to worry about the loan process being cumbersome, FCMB has made everything pretty easy and straightforward. Walk into any FCMB branch today, open an account and begin your loan process.
With these banks, you can get a car loan in Nigeria without collateral as long as you fulfill their requirements.
To apply for an urgent car loan from FCMB, CLICK HERE.
5. Standard Chartered Bank
This is another bank that should make your list if you are looking for a list of banks that can give you a good loan to get a car without needing collateral. Standard chartered bank is one of the banks you should definitely visit. At this bank, you can get different types of loans for different purposes. You can get access to loans of as much as #20 million with a repayment plan of as long as 5 years. You do not need to worry about paying soon as there is a much longer duration of time for you to pay.
To apply for an urgent car loan from Standard Chartered Bank, CLICK HERE.
Frequently Asked Questions Regarding Banks Offering Urgent Car Loan in Nigeria without Collateral
When it comes to getting a car loan in Nigeria without collateral, different people tend to have different questions. Here are some frequently asked questions snd their answers you might find useful.
Can I get a car loan without collateral?
There are different banks and different companies that can offer you a car loan without collateral. Companies like Renmoney can offer you a loan. Banks like UBA, Access Bank, and FCMB also offer you car loans without collateral.
Does UBA give instant loans?
This is one question many people tend to have. To qualify for an instant loan with UBA, you need to be banking with them. UBA gives instant loans but only to their new and existing customers.
Can I use my car to borrow money?
You can use your car as collateral if you’d like to take a loan. There are different banks and institutions that would accept your car as collateral if you would like to take a loan with them. All you need is proof of ownership of the car presented with some necessary documents and you’re good to go.
Where can I get loans without collateral in Nigeria?
The best places to get loans without collateral in Nigeria are loan apps.
Below is a list of the best apps to get instant cash loan in Nigeria:
3. Aella Credit
5. Money in Minutes
7. Page Financials
14. C24 Capital
15. GTB Quick Credit