Nigerian Banks that offer Instant Loans Without Collateral



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Years before now, putting up the title “bank loan without collateral in Nigeria” would have seemed unbelievably ridiculous. Fast forward to a few years later; we can confidently compile a list of traditional banks in Nigeria providing this service. This is in acknowledgment of other loan organizations in Nigeria. Particularly, the financial technology companies dominating the lending industry. Apparently, traditional banks have identified the need to change the narrative.

We have other posts on platforms like Renmoney loan, Migo, Specta Loan, Branch Loan, Fint Loan, C24 Loan, Fairmoney, and Quickteller Loan where you can get an instant online loan in Nigeria. But for now, we’ll just focus on the top banks in Nigeria offering loans without collateral.

1. First City Monument Bank [FCMB] Limited​

Regarded as one of the leading financial institutions in Nigeria, FCMB continues to deliver exceptional services to her customers. FCMB provides the following loans without collateral:

  • Auto Loan
  • Salary Top-Up Loan
  • Fastcash Loan
  • Premium Salary Loan
The FCMB FastCash Loan is an instant loan that can be accessed without collateral using the USSD code *329#. You can check out this post for other USSD code for loans in Nigeria. You can read about FCMB here.

2. WEMA Bank​

Operating a Salary Current or Savings Account makes it easier to obtain a loan without collateral from WEMA Bank. The maximum loan amount is seven multiples of net monthly salary, subject to a maximum of N2 million. The Wema loan operates a 48-hour loan disbursement and is only available to confirmed employees.

3. Stanbic IBTC​

The subsidiary of the Standard Bank Group is yet another Nigerian bank offering business and personal loans. This is one of the banks that will grant you a loan in Nigeria without salary account. The terms are based on repayment between one to five years. Within this period, payment is made in monthly installments.

4. Zenith Bank​

The Zenith bank loan SME Loans, Overdrafts, Receivable Discounting or Invoice Discounting, LPO Finance, Import Finance Facility, Export Finance Facility, Term Loan, Lease, Bonds & Guarantee and Retail Loans for Schemes.

For instance, the Local Purchase Order [LPO] is available to borrowing customers to finance the supply of materials. Overdrafts, on the other hand, grant the borrower a certain amount over the credit balance in their current account. This is set within a specified tenor, usually not exceeding twelve months. You have access to all these without the bank needing collateral. You can see how to get a loan from Zenith bank here.

5. Fidelity Bank​

The SME-friendly bank has bagged several awards and recognitions to earn a spot in the retail banking sector. Fidelity Bank operates a Fidelity Easy Asset Leasing Scheme [FEALS] offering business and personal loans without collateral. FEALS is designated for the acquisition of household appliances, brand new vehicles, generators, inverters, laptops and the like by customers.

Its minimum contribution is as low as 20% with a 48-hour approval time.

6. First Bank​

Nigeria’s premier commercial bank is acknowledged with over 10 million active customer accounts. It provides a comprehensive range of retail and corporate financial services to customers and investors across Africa.

FirstBank operates a FirstEdu loan available to private school owners who require additional funds for effectiveness. It offers a N10M maximum loan amount with an account relationship of 9 months. Additionally, FirstEdu is only available to private schools registered with the Corporate Affairs Commission [CAC]. There’s also the 100 student-population it takes into account.

7. United Bank for Africa [UBA]​

UBA is associated with the popular “No Wahala Loan”, as well as Personal Overdraft. With the former, borrowers have the jurisdiction to spend a little more on what they want. You may need some extra cash to fix your car, pay medical bills or take care of other emergencies. How you chose to use your loan is up to you.

8. GT Bank​

The GTBank Quick Credit is one loan option from GTBank that is very easy and super fast to get. You get your funds to your bank account within two hours of approval. The more exciting part of this loan is that you only get to dial a shortcode to apply.

Like others, you do not require paperwork or documentation for the application. You can borrow up to N5 Million with ease using the GTBank Quick credit loan.

9. Access Bank​

Access Bank Quick Bucks is a mobile app that allows you to access multiple quick and low-interest loan options from Access Bank. All you have to do is install the Access Bank quick bucks app and commence with the process.


Just before you obtain a loan from a bank, we recommend that you do your homework. Other than the information we have provided, you want to keep tabs on these banks to ascertain what platform suits you the best. Furthermore, you can compare different loan offers from different lenders to make the best-informed decisions when applying for a loan Finally, you can check out other bank loans like the Union Bank loan and also Jaiz bank loan.



Local time
Today 11:57 AM
Who have tried any of this banks cos thier intrest rate might not be friendly at all
  • Tags
    acces bank fidelity bank first bank gt bank instant loan loan nigeria banks stanbic ibtc uba zenith bank
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