List of private loan lenders in Nigeria

List of private loan lenders in Nigeria

There comes a point in our lives when we think ‘I need a loan’. But where does one get it? Well, today we will tell you about private loan lenders in Nigeria that can lend you money with no collateral, and they are available online! So check out this article if you want to apply for a loan in the most convenient way possible without risking losing something important.

Private loan lenders in Nigeria

Where can you get online loans?

As technology has progressed quite significantly in the recent years, you no longer even have to leave your house to get a personal loan. As long as you have Internet connection, you can do it from work or the comfort of your own house. We want to offer you several platforms that provide cash loans, both on mobile (Android) and on websites. But before we do that, please keep in mind that we are not endorsing any of these providers and cannot guarantee anything. Therefore, proceed with caution.

Mobile money lenders

mobile loan lenders in Nigeria

As it turns out, there are quite a lot of companies that offer loans via mobile (Android). We want to tell you about six of them, and you can decide for yourself which one to go with. Here they are:


This platform offers personal loans at 5-30% interest rate (depending on the credit rating) with a tenure that ranges from 15 days to 6 months. All you need is an Android phone, Internet connection, valid bank details and, most importantly, BVN. When you get your first loan, there will be a small validation charge of ₦100. Once you have the money, you can repay it via direct transfer, Quickteller or debit card.

Aella Credit


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Aella Credit has a special offer for users whose company is registered with the platform. They can enjoy lower interest rates and higher loan amounts. If you want that, in addition to your BVN and valid bank details, you will also need to provide your employer’s registration. If you are a regular out-of-network user, your interest rate is going to be 20-27%. Repayment works via debit card for all users.


This is a good option for those who need a little money, but fast. With Branch, you can get a personal loan with 20% interest rate and repay it in one month with four instalments via the mobile banking app, auto-debit or debit card. In order to get this loan, you will need valid bank details, a BVN and a Facebook account, as Branch uses your personal information.


Unlike most other platforms on this list, QuickCheck requires you to provide your source of income, along with your bank details, phone number and Facebook account. You can get a loan with a tenure of 5-30 days with a 1% daily interest rate. The loan can be repaid via direct deposit or debit card. In addition to offering loans, QuickCheck also allows you to buy airtime via their app.



Now, this is where things get serious, as PayConnect does not offer loans to just anyone. In order to get a one-month loan with 28-31% interest rate, you need to be an employee of 6 months or more at a vetted organisation. Moreover, you will need to provide a three-month statement from your bank account, approval of your employer to get the loan, an ID card, a staff ID and your salary account at a Nigerian commercial bank. The loan can be repaid via Direct Debit.


Just to get access to the FairMoney loans, you will need to provide a selfie with your ID card. In addition to that, you will need proof of employment (company details if you are self-employed), bank details, the details of your next of kin and a Facebook account. Your debit card will be charged with a ₦50 fee for verification. After all this, you can enjoy a short one-month loan with a 20-30% interest rate.

Online loan lenders

online loan lenders in Nigeria

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If you do not have an Android phone, do not fret, as we have six alternative options for you. As long as you have an Internet connection, you can get a loan. Here are your options:


This platform allows employers to give out loans to their employees. If you provide your employer registration and valid bank details, you can get a loan with a tenure from 1 to 12 months (interest rate depends on the amount and tenure). Moreover, you can get multiple loans, as long as you are not borrowing beyond your credit. The repayment works via monthly deductions from your salary.


With the help of a useful chatbot at KiaKia, you can easily register and take out a loan, as long as you have valid bank details and your work ID. You can also be a lender on KiaKia, so if you have some money to spare, you can give it a shot. The interest rates on this website are from 5.6% to 24%, and tenure is from 7 to 30 days. You can repay the loan via direct deposit or debit card.



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This is actually a platform that connects lenders and borrowers. You can get a loan from ₦60,000 for 2-13 months, and your interest rate will be based on your risk score (from 9 to 39%). You will need to provide your ID card, valid bank details and bank statements in order to get a loan. It can be repaid via direct deposit or debit card.


Now, while most of the time you can just upload your documents online, this platform requires physical proof. You need to provide your national ID, direct debit mandate, proof of employment, bank statement, post-dated cheques and your passport photo at their office, or they can come by yours to pick them up. Once you pass this check, you can get loans for 1-9 months at 4%+ interest rate.

Sharp Sharp by Credit Direct

Another platform that requires your physical documents is Sharp Sharp by Credit Direct. It offers loans with tenure of 1 month and more with a 3.4% monthly interest rate. You can repay the loan via direct debit.


Zedvance offers loans with tenures of 1-12 months with interest rates of 7.5-58% for users with valid bank details and supporting documents mentioned on their website. The loan can be repaid via direct deposit, direct debit or cheque.

As you can see, there are plenty of places where you can get a personal loan, and most of the time, you do not even have to get off the couch! So find the one that fits your needs best and go for it, as long as you are being responsible.

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