Nigerian Banks Offering Instant Loans Without Collateral [Full List]

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Here are some of the top banks that offer loans without collateral in Nigeria:

1. Fidelity Bank

Fidelity bank has won numerous accolades and recognitions to secure a position in the retail banking industry. With its Fidelity Easy Asset Leasing Scheme [FEALS], Fidelity Bank provides unsecured loans for both personal and business purposes. Through FEALS, customers can purchase household appliances, new cars, generators, inverters, computers, and other items. It has a 48-hour approval window and a minimum commitment of 20%.

2. First City Monument Bank [FCMB]

FCMB, one of Nigeria’s top financial institutions, is known for providing its clients with top-notch services. FCMB offers the following loans without requiring any security:

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

The USSD code *329# can be used to obtain an immediate loan from FCMB FastCash Loan without providing security. For further USSD codes for loans in Nigeria.

3. Stanbic IBTC

Another Nigerian bank providing loans for personal and business purposes is the subsidiary of the Standard Bank Group. This is one of the banks in Nigeria that would provide you with a loan without a salary account. Repayment lengths range from one to five years. Monthly payments are made during this time.

4. Zenith Bank

Zenith Bank provides SME Loans, Overdrafts, Receivable Discounting or Invoice Discounting, LPO Finance, Import Finance Facility, Export Finance Facility, Term Loan, Lease, Bonds & Guarantees, and Retail Loans for Schemes.

Borrowing customers, for example, can use the Local Purchase Order [LPO] to finance the materials supply. Overdrafts, on the other hand, give the borrower a certain amount over the credit balance in their current account. This is set within a specific tenor, usually at most twelve months. You have access to all of these without the bank requiring collateral.

5. WEMA Bank

It is simpler to get a loan from WEMA Bank without collateral if you maintain a salary current or savings account. Seven times the net monthly salary up to a maximum of N2 million is the maximum loan amount. Only confirmed employees are eligible for the 48-hour loan disbursement period of the Wema loan.


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