Top 15 Best Personal Loans Without Collateral

Today, QUICK LOAN ARENA the number 1 review website for digital lending platforms and loan apps brings you the list of 15 reputable personal loans without collateral. We have been cursing the darkness by blacklisting rogue and fraudulent apps. However it’s imperative to light a candle and praise those personal lending apps that are doing well and not resorting to blackmail or shaming their customers and their contacts at every given point.

Reputable Personal Loans Without Collateral

These personal loan apps you can be sure, won’t send you, your family or your contact list defamatory or threatening messages even when you are in default for a few days. This is not to encourage default but to promote ethical lending practices between lending companies and their customers.

We recommend you make your loan request ONLY from any of the following 15 reputable and highly recommended personal loans without collateral and as much as possible boycott the many others that threaten and blackmail you even before your repayment falls due.

Top 15 Best Reputable Personal Loans Without Collateral

Below are our top list of 15 best reputable personal loans without collateral for instant cash both for individuals and corporate businesses in Nigeria or anywhere else in the world: Please note that this rating is subject to review from time to time.

1. Branch

2. Carbon

3. Aella Credit

4. QuickCredit

5. Okash

6. FairMoney

7. Page Financials

8. Renmoney

9. Umba

10. Money in Minutes

11. QuickCheck

12. Migo

13. MoneyPal (Zedvance)

14. C24 Capital

15. Alat by Wema

1. Branch


Branch is our 1st pick on our list of top 15 personal loans without collateral 

Branch International is the first on our list of personal loans without collateral that make it easy for people to get quick loans up to ₦500,000, to transfer money for free, and enjoy investment yields of 20% per annum.

Unlike other lenders, we don’t make you jump through hoops or fill out paperwork. Simply apply through the Branch app and get approved in under 24 hours. Branch don’t charge late fees or rollover fees, we don’t put restrictions on how you spend your money, and our customer support team is available 24/7.

What is required to receive a Branch loan?

Requirements are simple – all you need to apply is your phone number or Facebook account, bank verification number (BVN) and bank account number. They will also request access to the data on your phone in order to build your credit score.

To download the app from Google Play Store and apply for loan, CLICK HERE.

2. Carbon

Carbon is our 2nd pick on our list of top 15 personal loans without collateral

Carbon, formerly known as Paylater, is the second on our list of personal loans without collateral that give instant cash to its users.

Quick loan from Carbon do not require collateral or guarantors. At your first try, you may not be able to access big funds, you start by borrowing small, and paying back as at when due, then you can have access to bigger funds.
The loan platform is available 24/7. You can apply on weekends and holidays and get a quick loan.

All you need is to download and use the Carbon app. You will be required to provide your basic details such as name, phone numbers and more. A photo of you which you may have to snap real time with your phone via the app



3. Aella Credit

Aella Credit is the third on our list of reputable personal loans without collateral. With this app, it shouldn’t be difficult to borrow quick loans either for yourself or for your business. It shouldn’t also be difficult to get loan to invest, increase productive capacity, pay bills, and get more working capital for your business. With Aella, all these are available at the snap of your fingers.

Aella Credit is our 3rd pick on our list of top 15 loan apps in Nigeria for instant cash

According to Aella, “you deserve simple, straightforward products that actually work, adding that they make it super easy for anyone to borrow, invest, make payments, and insure their health.

How Aella Loan works

1. Download Aella app

Download the Aella Credit app from Google Play Store or IOS App Store.

2. Create your account

Simply fill out your details in less than a minute and submit for a quick review.

3. Update your profile

Update your profile by providing answers to quick questions about you.

4. Check Eligibility

Click the “Check Eligibility” button to see the amount of loan you are eligible to borrow in seconds.

5. Apply for loan

Loans will be sent to your provided account in 5 minutes or less.

6. Receive funds in your bank account

Loans can be repaid via the App or directly to your personalized bank account. Build your credit score to qualify for higher loans.

You can download Aella app on Google Play Store by clicking here.

You can download Aella app on App Store by clicking here.

4. Quick Credit

Quick Credit is no 4 on our list of personal loans without collateral that strives to provide borrowers and mobile users with convenient lending and quick loan services. With simple steps and minimal documentation, users can get qualified loan products which is 100% online process. Once approved, the loan amount will be immediately transferred to the applicant’ s bank account.

Product Features
1.Tenure: From 91 days to 365 days.
2.Loan Amount: From NGN.1,500 to NGN.50,000.
3.The maximum Annual Percentage Rate (APR) is 36%.
4.Origination fee: From 1% to 9%.

How to APPLY
1.Download Quick Credit App from google play store and install.
2.Register an account with your phone number.
3.Fill in basic information.
4.After the submission of the loan application, the final result will be shown in the APP.
5.If approved, the loan amount will be disbursed into the bank account directly.

You can download Quick Credit app on Google Play Store by clicking here.

To download the app on Apple Store for iOS devices, CLICK HERE.

5. OKash

Okash makes the fifth on our list of personal loans without collateral in Nigeria or anywhere else in the world that give you easy access credit anytime, anywhere in Nigeria. It is a convenient quick online lkoan platform for Nigeria mobile users managed by Blue Ridge Microfinance Bank Limited. OKash fulfills customers’ financial needs completely online 24/7.

The application process takes just a few steps with minimal documentation and the approved loan amount is transferred to the applicant’s bank account

Loan Products from OKash:
Tenure: Repayment ranges from 91 days to 365 days.

Loan Amount: from NGN 3,000 to NGN 500,000.

Interest Rate: With a minimum of 0.1% up to 1%

Their interest rate is calculated on a daily basis. Annual interest rates from 36.5% to 360%.

Origination Fee: Range from NGN 1,229 – NGN 6,000 for a one-time charge

How the OKash App works?
1. Install the OKash APP from the Play Store.
2. Register an account.
3. Select the product you would like to apply for.
4. Fill out your basic information, then submit the application.
5. After the submission, you may receive a call for verification. The final application result will be shown in the APP and you will be informed by SMS if approved.
6. E-sign the loan agreement after the approval.
7. After the E-sign, the approved loan amount will be disbursed into your account shortly and a SMS notification will be sent.

You can download the Okash app on Google Play Store by clicking here

To read more about Okash app, CLICK HERE.

6. FairMoney

FairMoney takes the 6th position on our list of leading personal loans without collateral, seamless loan procedures and excellent customer service. Loan amounts range between ₦1,500 to ₦1,000,000 with repayment periods from 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%)

Quick Loan characteristics
Loan amount from ₦1,500 to ₦1,000,000
Repayment periods from 61 days to 18 months
APR from 30% to 260% per annum
Interest discounts of up to 90% for early repayments
No hidden fees

You can download the FairMoney app on Google Play Store by clicking here

7. Page Financials

Page Financials comes no 7 on our list of personal loans without collateral. Whether you have an urgent need for cash to settle bills, take care of emergencies or grab an opportunity? Page Financials lending platform can be your good alternative.

Minimum loan amount is N100,000 and the upper limit for a new customer is N5, 000, 000. Both depend on borrower’s capacity to repay based on verifiable income level and other selection criteria.

Loan amount of ₦3,500,000 borrowed for 12 months. Monthly Interest Rate:- 2.99%. No other fees.

Minimum and maximum loan term: 3 – 12 months.


To Download and and apply through PAGE FINANCIALS APP ON APP STORE, CLICK HERE.

8. Renmoney

Renmoney is the 8th on our list of personal loans without collateral and it is managed by a group of technology and finance enthusiasts who are passionate about making financial inclusion count in Nigeria.

With Renmoney, you can apply for a convenient loan to meet needs like growing your small business, renovating your home, buying a new car, paying rent, school fees, medical bills, etc.

To Apply for their Renmoney Quick Loan, CLICK HERE

You can download the Renmoney app on Google Play Store by clicking here.

To read more about Renmoney, CLICK HERE.

9. Umba

Umba comes 9th position on our list of reputable personal loans without collateral. It’s hosted on both Google Play Store and Apple Store and prides itself as the leading digital bank in Africa. The app allows users to apply, drawdown and repay loans directly from their smartphone or desktop computer.

Once an individual is verified, it makes lending decisions based on an assigned risk rating.

How To Apply For Umba Loan

Create your account
Apply in seconds
Receive an Umba Loan
Increase your loan limit every time you repay a loan on time


Umba puts you in control of your finances. The Umba app lets you apply for credit on the go and it works 24/7.
No paperwork, collateral or office visits needed
You can use your Umba loan to send money directly to your M-Pesa account, to merchants, or utility providers
No late charges or rollover fees
Get access to bigger loans, lower fees, and flexible payment terms as you repay
Loans are approved and disbursed quickly
Get access to credit to build the life you want — for your business, your home, your family, your life.

You can download the Umba app on Google Play Store by clicking here

To read more about UMBA loan app, CLICK HERE.

10. Money In Minutes

Money In Minutes is coming 10th position on our rating of top personal loans without collateral in Nigeria and it is managed by MIM Finance Company, a UK-originated lending platform with presence across three (3) continents and Nigeria’s 1st Credit Membership that gives instant cash.

The platform has a robust and wide range of products to help you access affordable finance for various needs and purposes. MIM gives quick loans from ₦25,000 – ₦2m at interest rates between 4% to 30%

  • Quick access to affordable finance in minutes.
  • With it flexibility, there is something for everyone.
  • The platform is built on a positive credit profile with its range of products.
  • Gives access to quick and affordable finance to fuel your hustle or attend to urgent needs.

To apply for a Money In Minutes Loan, CLICK HERE

To read more about Money in Minutes loan app, CLICK HERE.

11. QuickCheck

QuickCheck comes 11th position on our assessment of top personal loans without collateral. The lending platform uses machine learning to predict borrower’s behaviour and instantly evaluate loan applications.

How To Get Cash in Minutes

Create a Profile
Download the app for free,
Sign up for an account

If you qualify, your cash will be disbursed within minutes
to your bank account.

How Do I Apply?                                                                                                                                                                            Apply and your credit score will be instantly evaluated and let machine learning decide if you qualify.

All applications MUST be completed on your android device . You can begin your application by downloading the QuickCheck app from the Google Playstore. After downloading the app, sign in with your facebook email address and password and fill the provided fields correctly.

Can I Apply For A Loan on my Computer or other operating devices?

The QuickCheck app is ONLY available on android devices for now. However, if and when we launch on other operating systems we will notify the public.

To apply for QuickCheck loan on Google Play Store, CLICK HERE.

To Visit Quick Check website, CLICK HERE

12. Migo

Migo (formerly kwikmoney)  ranks the 12th position in our list of reputable personal loans without collateral for instant cash. Migo is a cloud-based digital lender in Nigeria that enables you access to instant loan and if willing, to make purchases from merchants or withdraw cash without the need for a smartphone, point-of-sale hardware or plastic cards.

Migo loan amounts range from N500 to over N500,000. The loan agency usually start with a small loan and grow your loan offers over time as you borrow and repay consistently and build trust with the system.

  • You do not need any collateral or documentation to request your Migo loan.
  • No guarantors are required to get a Migo loan. Your loan offers will continue to grow at a steady pace as you borrow and repay early.
  • Physical visitation of Migo office or a bank not necessary
  • Their minimum loan amount is N10,000 and the upper limit for a new customer is N50,000 with no collateral or guarantor required.
  • Interest rates are determined by a number of factors, including your repayment history and the cost of lending.
  • Loan decisions are provided within 15 seconds and if approved, the applicant receives funds within 5 minutes.
  • No document or documentation is needed to obtain a Migo quick loan in Nigeria. All you need is an android phone, your banking details including BVN and a complete online application form.


You qualify for loans based on your personal information. The more information Migo can find on you, the easier it is to qualify. Your loan offers are based on your personal information and your loan repayment history. The more you pay your loans on time, the higher the amounts you can get.


Your personal information is used to determine your unique loan offers. The loan platform provides a range within your available credit limit from which you can select. Currently. You need Valid bank details, Payment card details, Android Phone and Complete application.

To get a loan, all you have to do is enter your phone number here.

Once you select the loan amount you want, you’ll be asked to give details of your bank account for the loan to be deposited. Finally, your debit card information will be registered to make repayment easier for you.

You can also get a Migo loan by dialing *561# for MTN, 9mobile, and Glo or *554*561# for Airtel. From the list, select “Request Loan” to see a list of your customized loan offers.

To apply for a Migo loan, CLICK HERE

To get more information about Migo loan, CLICK HERE

13. MoneyPal (Zedvance)

MoneyPal owned and managed by Zedvance Limited is the 13th position rating on our list of personal loans without collateral in Nigeria for instant cash.

Zedvance Limited is a consumer finance company that offers loan packages that cater to all your financial needs regardless of what they may be. The company claims an eligible individual or small business can get up to N5million quick loan in 5 hours with no hidden charges.

Customers can enjoy loan tenors up to 24months at Annual Percentage Rate (APR) of 34.8% – 365%. For example: If a customer borrows NGN100,000 for 6-months, we will charge an interest rate of 2.9% per month at an APR of 34.8%. A processing fee of NGN1,900 (that is 1.9% of the amount requested) will apply as well as six monthly repayments of NGN 19,566.67. This gives a total repayment of NGN 119,300.02.

To get started, simply:
1. Download the app.
2. Click on “Create Account”.
3. Provide relevant details (please register with the phone number linked to your BVN).
4. Apply for your preferred loan amount.

To apply for MoneyPal loan, by downloading the app on Google Play Store, CLICK HERE.

To Visit and apply through MoneyPal (Zedvance) website, CLICK HERE

14. C24 Capital

C24 Capital platform takes the 14th position on our list of reputable personal loans without collateral in Nigeria for instant cash. The financial institution provides retail loans for consumers in need of quick financial solutions and is focused on delivering services that can be accessed online, from any internet-enabled device anywhere within Lagos.

The platform does not exist on Google Play Store or App Store and therefore application has to be completed on the company’s website.

HOW TO APPLY AND OBTAIN A C24 CAPITAL Personal Loans Without Collateral

Check Your Eligibility…Read through our loan requirement to see if you meet our eligibility criterion.

Personalize Your Offer…Select how much loan you want and how long you want to take it for.

Borrow & Repay…Once you are done with the application submit your application and you get your loan amount with your own terms within hours.

To apply for personal or business loan with C24 Capital, CLICK HERE.

To apply for QuickCash from C24 Capital as a Civil Servant, CLICK HERE.

15. Alat by Wema

ALAT by WEMA takes the 15th and last position on QUICK LOAN ARENA rating of personal loans without collateral in Nigeria for instant cash. The platform offers easy access to quick loans without paperwork or collateral. Loans are available to all Alat customers via Alat App or the website.

With ALAT, one of the major loan apps in Nigeria, you can now apply for a quick loan without collateral or paperwork, no visitation to any physical location, and response time between acceptance of offer and loan disbursement is in minutes. You can now borrow as much as N2,000,000 (Two million naira) without collateral.

Why Should You Take personal loans without collateral from ALAT?

It’s very easy to apply – No long forms to fill
It only takes a few minutes to get the loan in your bank account after approval
No collateral is required
Low-interest rates
Repayment is very easy
Bigger loans, lower interest rates on subsequent loans

To download the app on Google Play Store for android devices, CLICK HERE.

To download the app on Apple Store for iOS devices, CLICK HERE.

To read more about ALAT BY WEMA, CLICK HERE.

Whatsapp: +234 0915 382 1578

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About the Author: Femi Adeoya

Mr Femi Adeoya is a Chartered Forensic Accountant and a Certified Fraud Examiner. He has over 20 years professional work experience in accounting, finance and business management processes. As an Accounting Software Expert, he has implemented and supervised accounting solution set up of over 50 small and medium businesses in Nigeria. As a passionate blogger, Mr Adeoya is an ardent writer and communicationist. He is the CEO of QUICK LOAN ARENA (, the number 1 loan apps review website in Nigeria. He is very passionate about the quick and instant loan industry in Nigeria and has written over 200 reviews on different loan apps and digital banks in Nigeria, USA, Canada and UK.

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