LOANS: Borrow Money Online In Nigeria Instantly

Learn how to borrow money online in Nigeria instantly without collateral

Have you always wanted to borrow money online in Nigeria? Do you know there are companies that give loans online without collateral? Yes, you read it right.

Well if you haven’t heard or if you don’t know, now you do. I will be taking you through how you can borrow money online in Nigeria.

You know what, I’m going to share with you what prompted me to write this post. Few weeks ago I was dead broke and stuck and needed to get a reasonable credit facility that will be easy to finance.

I had to search on Google and I did find lots of info. When I tried the first and second online loan company, I realize there’s a similarity in their mode of operation.

The only difference in the way they provided loan is the interest rate, pay back period, and slight differences in the information one has to submit.

Yes, I got the loan I needed and was really glad. So I said to myself, why can’t I share this with others?

At some point in our lives we get stuck and run out of cash, and there’s need to pay some bills like school fees, medical bills etc., urgent cash is what we seek isn’t it?

borrow money on the internet

This article on how to get fast loans without any collateral and paper work features the following:

  • Borrowing money online instantly
  • Four functions of money
  • 5 quick reasons why people borrow money online in Nigeria
  • 5 Quick loans without collateral and;
  • Online loan application

You May Also Read: Quick Nysc loan for all serving corps members

Okay, we all know what money is and what its used for, even a year old baby recognizes money when shown one………… lol. Nonetheless, I’ll share with you few things about money, its functions and properties.

Money is said to be an item or verifiable record that is generally acceptable as payment for goods and services, repayment of debts in a particular country.

Money derives its value by being declared by a government as legal tender.

borrow money online instantly in Nigeria
How to borrow money online instantly in Nigeria

If the government does not declare it as such it is valueless. It must be acceptable generally within the boundaries of a country for payments of goods, services and debts to be called money.

A country’s money supply consists of currency (which are banknotes and coins) in our own case its just bank notes in Nigeria.

It should be durable and easily transported of course; we don’t want something that important to be difficult to carry around.

To borrow money means to obtain or receive something (in this case money) for temporary use with the intention of returning it or its equivalent back to the lender.

How to Borrow Money Online In Nigeria Without Collateral

Loans without collateral are what the majority of people have in mind when trying to borrow money online in Nigeria, the reason being that most people do not have collateral to give up before loan is given to them.

So quick cash loan in Nigeria to solve financial issues and emergencies do the magic for everyone.

With that being said I will be sharing with you where to get loans without collateral in Nigeria and quickly too.

1. Branch Mobile Loan

instant loan in minutes

Talk about loans without any collateral and comes to mind.

Branch provides the funds you need to attain your goals without the usual stress that accompanies loan application processes in Nigeria, Kenya, Tanzania, and Mexico.

Branch offers loans from ₦1,500 to ₦150,000 and Loan terms range from 4 – 64 weeks. All you need to apply for a loan from Branch is an Android Smartphone!

Did you know that it takes a few seconds to complete your application and receive your loan straight into your bank account? So what are you waiting for? Visit the official website of now for more info.

Branch makes it easy for people in Nigeria to access a loan anytime, anywhere without any physical meeting, no collateral or a signature. You won’t even see a piece of paper from start to finish. It is like a bank in your pocket.

You can get in touch with their super responsive financial advisor via, follow on Instagram @branch_ng, and @branch_co on Twitter.

2. Quick Cash by 9mobile

borrow from private money lenders

The whole process when trying to borrow money online in Nigeria via this telecoms network begins and ends with a 9mobile line and valid bank statements

All you need to is dial *561# from your phone and you are good to go. You can have access to up to #100,000 and it takes only 3 mins to get the loan once you’re registered.

There is no access to multiple loans at once. You can repay through either ATM, Debit card and direct transfer or direct deposit.

The interest rate is 10- 20% and the loan tenure is You may visit for more information

3. Paylater (Carbon) Urgent Loan In Nigeria

how to borrow money online in Nigeria - paylater - carbon

Paylater is an online money lender that has taken over the market to help people with financial issues.

They make it so easy that you see the amount you are to refund at a corner of their website. The interest placed on the first loan taken is 1% of the amount borrowed to be paid within 15 days.

Visit for more information.

4. Fint Loan

Fint money lender

For a loan to be granted on this loan platform you are required to have valid bank details, valid ID card, and bank statement.

To be granted a loan, a tax identification number is required for registration; this means you have to be a taxpayer to access this service.

The tenure of the loan ranges from 2-12 months and no chances of multiple loans at once. Repayment can be done through any of these Channels; debit card or direct deposit.

The minimum amount of personal loan given out is #60,000 and the interest rate is based on the borrowers’ risk score. Visit for more details.

Also Read: 11 best loan apps in Nigeria

Though some people have tried crowdfunding websites to get funding for their endeavor’s, there are other online lending platforms where you can borrow money in Nigeria without collateral.

5. C24 Loan

c24 loan

They are in business also to help people quickly tackle financial needs and borrow money online in Nigeria. Their website is easy to use and navigate.

Their interest is affordable and they would loan you the money within a few hours of registering and you don’t need to go through all the paperwork stress because none is involved.

The more you borrow here the more your chances of borrowing more and no matter how much you borrow no collateral is needed……I mean what could be more stress less?

Visit for more information.

Quick Read: How to get the tradermoni loan

6. Quick Check

quick check

They allow individuals and small businesses to have access to money they can borrow, all online.

As a way of ensuring that people get access to these loans, they have created an easy method of doing that.

Mobile technology has been provided to give Individuals access to financial credits; it allows them to borrow up to #30,000 without any collateral for a period of 15-30 days.

Please visit for more inquiries

There are other platforms as well which I didn’t mention here, I will advise you choose the one most suitable for your needs.

In our previous article on top 19 quick online money lenders in Nigeria, we gave a list of top online lending platforms where you can get fast cash loans in Nigeria.

Definitely, there are few steps to follow if you want to be granted loans online……..I will take you through those steps briefly.

  • Now, before you can apply and borrow money online from any of these companies mentioned above, you should be at least 18 years above.
  • You should have a steady source of income that is verifiable…..they wouldn’t want to borrow someone that has no means of repaying back the loan.
  • You must be a confirmed employee in a present place of work.
  • You must also have a functional current or savings bank account and lastly, you must have a means of identification.

With all these requirements met by you, then you can proceed to the steps below.

Step 1: Visit any of these online loans platforms and look for where their online application form is located.

Step2: Once the application form is filled successfully, you will receive a confirmation or decline as the case may be.

Step3: Get the required documents across to them online and viola! your preferred account would be deposited within minutes or hours.

Also Read: Bank of Industry Loans for Graduates

Reasons Why People Borrow Money Online Instantly In Nigeria

There are various types of loans and I’ll share with you about five important reasons why people borrow money online in Nigeria.

Reasons why people borrow money online in nigeria

Reason 1: One of the reasons people borrow money online in Nigeria or seek a loan is to have a home.

Everyone wants to have a home to call theirs and not all can afford to without help.

Hence, the reason why people resolve to mortgage and this I would say is a valid reason to get a quick soft loan online.

I would advise considering your options and your current financial situation to choose the best type of loan to take.

Reason 2: People borrow money online in Nigeria to start up a business. This reason is valid enough as it is an investment which would yield returns and bring you more money.

A loan is better than equity as a loan would be repaid over a period of time while equity will cost you a portion of your business for life. If you’re in this category, you need a business loan.

Reason 3: Another reason why people borrow money is to buy a car, a little comfortability while going about your day business won’t hurt anyone…..who doesn’t like comfort?

Well, a car is a major responsibility, so before applying for this loan it should be thought about carefully.

If it will make your life easier, help your work and bring you more money then it’s a wise investment in the future.

Reason 4: People also borrow money online in Nigeria to make their children happy and trust me, nothing beats this purpose for obtaining a soft loan in Nigeria.

Whether to pay for your children’s school fees or to buy them that special gift they have always wanted for their birthday, it’s still a good reason to obtain a loan as our children are our future.

Reason 5: People borrow money online in Nigeria for medical bills. Medical emergencies can occur at any time and we might not be prepared for it. So people try to grab emergency loan online.

If you’ve not registered with any of the best insurance companies in Nigeria, you may find it hard to cater for your medical situations.

Going for a easy loan might just be what we need to settle our bills, another valid reason to borrow money online.

There are other various reasons for borrowing money online in Nigeria that could be valid as well; the fact that I didn’t mention them doesn’t make them less important.

You May Also Read: How to use western union to track money online

Four Functions of Money

Money has majorly four functions which are briefly explained below

  • The medium of exchange: this happens when money is used for the intermediate exchange of goods and services, this nullifies the inefficiencies of trade and barter system.
  • A measure of value: money is a standard numerical unit of measurement of the market value of goods, services, and other transactions. It serves as a measure and common denomination of trade; it is also a basis of quoting and bargaining of prices. All these make us understand how valuable money is.
  • Standard of deferred payment: basically this means using the money for settlement of debts.
  • Store of value: for money to function as a store of value, it should easily be saved, stored and retrieved.

It must be predictably usable as a medium of exchange when retrieved and its value must remain stable over time.

functions of money for all lending uses

This is to say before anything can be called money it has to be able to carry out all of the functions listed above. Thanks to my Economics teacher in Secondary school; I remember this feature so well (smiles).

Now I believe people have reasons to borrow money online in Nigeria which varies with different individual’s needs, and I also think these reasons should be valid ones.

I personally wouldn’t want to be in debts based on things that are not profitable or essential to me.

[Tweet “Debt is the certain outcome of an uncertain income – Oasdom”]

Last Notes on How to Borrow Money Online In Nigeria

That is all I’ve got for you on how to borrow money online in Nigeria and I hope I you found this piece to be helpful?

Some admonitions though, some people find it difficult to pay back loans they get either online or offline; if you’ve got what it takes and are sure about repaying back you can go ahead.

If you’ve always found it difficult to repay back debts, borrowing more money online is not the best for you. Simply put, don’t take more than you can chew.

Don’t forget if you find this helpful or informative please do visit us at for more informative articles.


  1. We’re not a loan company Seiyefa. We have just given a list of loan lending compnies in this post, go through each and go with the ones you’re comfortable with


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