Top Loan Apps In Nigeria To Get A Quick Loan Without Collateral In 2023

Unlike the financial institutions in Nigeria, before you can get a loan from them, you must provide collateral, digital financial loan apps offer instant loans without collateral and or paperwork. When you find yourself in need of quick funds, borrowing money from any of these top loan apps in Nigeria to get a quick loan without collateral could ease your burden.

However, what you’ll be exploring today in this article is the list of top loan apps in Nigeria to get a quick loan without collateral in 2023.

When you borrow money online in Nigeria and pay it back as early as possible (on or before the due date) it increases your chance of borrowing a huge amount of money.

See Also: 25 Best Loan Apps in Nigeria for 2023 (get instant loans without collateral)

Take for instance, you want to borrow money from Kuda bank but the highest amount you can borrow as a first-timer is the sum of N5,000, you borrowed it and paid back on time, the next time you decide to borrow, you would see that the borrowable amount has increased.

That’s exactly how online banking works, borrowing and repaying on time increases your credit score over time.

Top Loan Apps In Nigeria To Get A Quick Loan Without Collateral

Without the need to beat around the bush, let’s quickly dive into the main topic- Top loan apps in Nigeria to get a quick loan without collateral.

However, it’s important you read till the very end to gain enough insight and know which to borrow from.

1. Kuda Bank

Kuda Bank is a digital banking platform founded by Babs Ogundeyi with CO-Founder Musty Murphy. It’s a company previously known as Kudi bank and was founded among the list of top 10 financial loan apps in Nigeria today.

Also, kuda bank is recorded as one of the oldest online loan apps in Nigeria founded in the UK and started operation in Nigeria as far back as 2017.

With Kuda bank, you can get a loan of up to five million naira (N5,000,000) without any paperwork or collateral.

Easily, you can perform transactions with the Kuda Bank USSD code and transfer code offline even without opening the app.

One of the questions a new user must ask is kuda bank is legit. And to give a straightforward answer, kuda bank is a legitimate company approved by the central bank of Nigeria (CBN) and insured by the NDIC.

2. Opay

The second among the list of top loan apps in Nigeria to get a quick loan without collateral in 2023 is Opay.

Opay is a mobile banking platform that goes beyond borrowing loans, they provide several services e.g lending, electricity bill payment, OFood, OCar, TV subscription bill payment money transfer, savings, and deposit.

The Opay features are not limited to that, it includes many features not mentioned here. 

This digital platform was founded by Olu Akanmu and Co partners.

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With Opay, you can borrow money from Opay ranging from N3,000 to N50,000, also you are chanced to borrow up to millions as your credit score increases.

Just like kuda bank mentioned earlier, Opay required no collateral before you can get access to a loan. However, you must be able to provide other requirements e.g your BVN, taking a picture of yourself, and a few other requirements.

Also note, you mustn’t have an outstanding loan on other loan apps, if not you’ll get automatic disapproval.

To get a loan from Opay, kindly download the app from a reputable source e.g Google playstore, apple store, or any desirable app downloading platform.

3. Aella Credit

Here’s another digital loan app that offers instant loans without collateral or any paperwork- Aella Credit.

Aella Credit app shouldn’t go without mentioning in the list of top loan apps in Nigeria to get a quick loan without collateral.

Personally, I’ve tried this bank as far back as 2020 and could tell you Aella Credit is superb.

You get your loan disbursed immediately after your account is approved.

However, the process of applying is simple, all you need to do is to download the app from a reputable source, after downloading, open the app and create an account using a strong password for security reasons.

As a new user, you may not get a loan beyond N10,000, paying at the right time increases your credit score and get a chance to borrow up to the sum of one million naira.

4. Branch Loan App

Branch is also another reputable loan lending platform in Nigeria, it is one of the oldest and best loan apps.

Despite how long it has been existing, it has never been listed amongst the list of loan sharks in Nigeria to date.

With this bank, you can’t get a huge amount of loan as a new user, the more your credit score is growing the more you unlock higher loan amounts.

Just like the previous ones mentioned above, branch loan app requires no paperwork or collateral which is the main point of this article.

To get a loan, you’ll need to download the app, sign up and follow every prompt in your branch account to borrow the amount you want.

Note: If this is your first time borrowing, you may not be chanced to borrow up to or beyond ten thousand naira (N10,000).

5. Carbon Loan App

You might have possibly seen one or two adverts for carbon loan apps online, or seen people recommending them.

It’s one of the best and oldest financial loan apps in Nigeria.

 You can get Instant loans without collateral from the branch app provided you’ve fulfilled every requirement.

As an old user, you might access up to one million naira worth of loans while the new user’s borrowable amount ranges from N3000 to N10,000.

All the apps mentioned in this article give instant loans without collateral or any paperwork. You can always get loans from any of them.