Places to get loan without collateral: list of top 9 banks
Most organization or banks don’t usually gives loans out without collateral due to fear of loan default. But There are some banks that offer collateral-free instant loans in Nigeria. Here we will show you the full list of banks offering loans without collateral in Nigeria.
Collateral is valuable property owned and pledged by someone who wants to borrow money as security for loan repayment. The property is forfeited in the event of a default.
It is now obvious that some banks have identified the need to offer loans without asking for collateral.
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Where can I get loan without collateral
There are several places you can get loans without the uses collateral of see list of guaranteed place where you can get your loan approved without the uses of collateral.
Before we show you the list of banks in Nigeria where to get instant loan without collateral,
Read also: how to get your loan approved easily.
List of banks offering loans without collateral in Nigeria
Below is the list of 9 commercial banks in Nigeria that dish out loans easily without the use of collateral;
- First City Monument Bank (FCMB) Limited
- WEMA Bank
- Stanbic IBTC
- Zenith Bank
- Fidelity Bank
- First Bank NG
- United Bank for Africa (UBA)
- Guarantee Trust Bank (GTB)
- Access Bank
1. First City Monument Bank (FCMB) Limited
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FCMB is one of the leading financial institutions in Nigeria where you can get instant loan without collateral. The bank offers the following type of loans without collateral:
Fastcash Loan
Salary Top-Up Loan
Auto Loan
Premium Salary Loan
To access the FCMB FastCash loan without collateral, kindly dial this code *329# . To know how to access other type of collateral-free loans in the bank, visit any of the FCMB branch around you.
2. WEMA Bank
This bank is being regarded as leading innovative banks in Nigeria. It’s very easy to access instant loan from WEMA bank. If you are interested, you can access up to N10 million to meet your short-term business needs.
This facility is open to business owners who are in ‘segments’ such as trade, pharmacies, schools, hospitals, clinics and diagnostic centres. Also, the loan is open to both new and existing customers of the Bank, including those doing business with their personal names.
Requirements for Wema bank collateral-free SME loans
Bank Verification Number (BVN)
Valid means of identification
Business profile and plan.
Note: the loan is without collateral, and the repayment period is 12 months.
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3. Stanbic IBTC
Stanbic IBTC is a subsidiary of the Standard Bank Group. It is one of the banks in Nigerian bank that provides instant loans without collateral to its customers. To get more detail on how to access instant collateral-free loan, kindly visit nearest branch of Stanbic bank.
4. Zenith Bank
Wow! Zenith Bank is included in the list. The bank offers collateral free loans including 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. You can visit any of its branches for enquiry.
5. Fidelity Bank
This bank is one of the several banks in Nigeria that offer personal loans to its customers. Fidelity Bank is being regarded as SME-friendly bank. Kindly visit nearest branch of the Fedekity bank for enquiries.
6. First Bank
As the name implies, this bank is the first in all. It is Nigeria’s premier commercial bank with over 10 million active customers.
FirstBank also operates FirstEdu loan which is available to private school owners that need loan
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7. United Bank for Africa (UBA)
UBA is one of the banks in Nigeria that offer instant loans to its customers. The bank is affiliated with the popular “No Wahala Loan”. If you need some extra cash to fix your car, pay medical bills, rent or sort out other things, UBA got your back.
8. Guranty Trust Bank (GTBank)
This bank provides instant loan to its customers, and it very easy to get. Once you request for this loan, your account will be credited within two hours of approval.
9. Access Bank
The Access Bank app, “Quick Bucks”, one can access multiple quick loans with low-interest. All you need is to install the Access Bank “Quick Bucks’ app on your phone, and you are good to go.