Top 10 Banks Offering Instant Loans In Nigeria (2022)

Would you have believed it if someone had told you a few years ago that you could walk into a bank and get an instant loan with no collateral? I suppose it will seem utterly ludicrous. The truth is that sometimes we find ourselves in a situation where borrowing money is the only way out, despite the fact that many people frown upon individuals who are attempting to secure a loan.

In the twenty-first century, there are numerous venues for borrowing money, and the number of lenders is growing. In fact, getting a loan these days is so simple that you can apply for one without even speaking to the lenders directly. But because banks protect your profile, privacy, security number, and other personal information, it is safer to borrow money from them than from an online money lender.

 However, we can state with confidence that there are more than 10 banks in Nigeria’s banking sector that provide this service, and we’ve helped you in compiling the best top 10 banks that provide instant loans without collateral in Nigeria. 

List of banks offering instant loans without collateral in Nigeria 

Here are the Top 10 lists of Nigerian banks offering instant loans:

1. FCMB
2. Access Bank
3. GTCO (GTBank)
4. Wema Bank
5. Zenith Bank
6. Fidelity Bank
7. Stanbic IBTC
8. UBA
9. Polaris Bank
10. First Bank

1. First City Monument Bank (FCMB)

One of Nigeria’s top banks offering instant loans is FCMB. It is renowned for providing its clients with top-notch services. It is a convenient, paperless credit facility that you can use for your urgent and emergency needs without putting up any collateral.

FCMB provides the following loan services without collateral:

• Fastcash loan
• Salary Top-Up loan 
• Auto Loan
• Premium Salary Loan 

For your urgent and emergency needs, FCMB FastCash is a practical, paperless credit facility that doesn’t require any security. You can apply instantly using the smartphone app or the USSD code *329*11#.

2. Access Bank Loans Without Collateral

With the help of the mobile app Access more, you may apply for a variety of Access Bank loans quickly and at low rates of interest. The Access Bank More app must first be installed in order to start the process. 

Access bank offers the following loan services without collateral:

• Personal loan
• Lending against turnover 
• Advance salary 
• Small ticket personal loan 

Apply for this type of loan is simple with the Access Bank mobile app( Access more) or dial  *901*11*1#.

3. Guarantee Trust Bank Ltd (GTCO)

One lending option from GTCO formerly known as GTBank is the QuickCredit, which may be obtained very quickly and easily. Two hours after approval, you receive the money in your bank account. You only need to dial a shortcode to apply for this loan, which is its more fascinating feature.

Dial *737*51*51# or login to any GTBank online and mobile banking platforms(GTBank mobile app)

4. Wema Bank Loan Without Collateral 

Wema Bank is one of Nigeria’s most dependable banks and the founder of ALAT, the first entirely digital bank in Africa that offers instant loans to its customers. The bank has been in the banking industry for over 60 years and has continued to be innovative in providing value to its stakeholders. It is simpler to get a loan from WEMA Bank without collateral if you maintain a salary current account or savings account. The maximum loan amount is N2 million, or seven times the borrower’s net monthly earnings. Only confirmed employees are eligible for the 48-hour loan disbursement period of the Wema loan. Simply dial *945*65# and follow the prompts to get loans in Nigeria from WEMA Bank.

5. Zenith Bank Loan Without Collateral

The Zenith Bank offers a variety of 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. additionally, each of these loans has a predetermined tenure that is often no longer than twelve months. Without the bank requiring collateral, all of these are available to you and to begin with the application, dial *966*00# from your mobile device.

6. Fidelity Bank Loan Without Collateral

The SME-friendly bank has won numerous accolades and recognitions to secure a position in the retail banking industry. The Fidelity Easy Asset Leasing Scheme [FEALS] is run by Fidelity Bank and offers unsecured loans for both personal and business use. Customers can purchase home appliances, new cars, generators, inverters, computers, and other items at FEALS. With a 48-hour approval window, the minimum contribution is as little as 20%. Dial *770*08# to apply now.

7. Stanbic IBTC Loan Without Collateral

Another Nigerian bank that provides loans for both personal and business purposes is the subsidiary of the Standard Bank Group. One of the banks in Nigeria that will provide you with a loan without a salary account is this one. The repayment terms range from one to five years. Monthly payments are made within this time frame. First, dial *909*44# or use your own Stanbic IBTC mobile app to apply.

8. Unite Bank For Africa (UBA) Loan Without Collateral

Personal Overdraft and the well-known phrase “enough money for your dreams” relate to UBA. Borrowers have the authority to spend a little bit more on what they desire with the former. In order to fix your automobile, cover medical expenses, or handle other situations, you might need some extra cash. It’s up to you how you decide to apply for your instant loan. And to apply, deliver a completed loan application form and any necessary documentation to any branch. Execute an offer letter outlining the conditions and terms of the loan after it has been approved. Loan proceeds will be deposited into a salary account held by UBA.

9. Polaris Bank Loan 

Polaris Bank is another unsecured loan provider in Nigeria for individuals or businesses. The best banking institutions in Nigeria, with over 350 branches and cash centers throughout the country and premium financial services. It functions as a group that offers a variety of financial services including instant loans which are supported by a technology that was specifically designed to help with service delivery to customers without collateral.

In order to apply for this Polaris Bank loan without Collateral, fill out a loan application at any Polaris Bank location near you. submit the duly completed loan application together with all necessary loan documentation. Within 48 hours, the loan will be disbursed to your account.

10. First Bank Loan Without Collateral 

With over 10 million active customer accounts, Nigeria’s top commercial bank is well-known. Customers and investors in Africa can choose from a wide array of retail and business financial services. Private school operators that need extra money for their operations can apply for a FirstEdu loan through FirstBank. It offers an N10 million maximum loan amount with a nine-month account connection. Additionally, the only private schools eligible to use FirstEdu are those that are CAC-registered. Also considered is the population of 100 students.

Conclusion

in Summary, FCMB, Access Bank, GTCO(GTBank), Wema Bank, Zenith Bank, Fidelity Bank, Stanbic IBTC, UBA, Polaris Bank, and First Bank are the top 10 lists of Nigerian banks offering instant loans without collateral. We advise you to perform your research just before applying for a loan from a bank. You should monitor these banks in addition to the information we have already supplied to determine which platform is ideal for you. Additionally, when applying for a loan, you may quickly compare loan offers from other lenders to make the best choices possible.