Need an unsecured, personal loan in Nigeria? Start here.


January is notorious for being a financially difficult month (except for those in the business of education). The christmas festivities, the loooong wait until the end of the month for salary payments and for parents, the demand for school fees at the beginning of the month make January a difficult one financially for a lot of people. Luckily, for salaried and self-employed workers, there are financial organisations whose job it is to lend a helping hand in these difficult times with no request for collateral, and I have compiled a list of some these. While most of these organisations cater for Lagos-based workers, there are some who will accept workers from other parts of the country.

When borrowing money, there are a few rules to follow to avoid getting into unmanageable debt:

  • Budget. Base your borrowing on what you can comfortably afford to repay each month.
  • Borrow as little as possible.
  • Borrow for as short a term as possible. While it can be tempting for longer terms on loan repayments, it is important to note that ultimately, these cost more in the long term. Borrow N200,000 over a 3 month period and you’ll have to repay ‎₦239,147 (‎₦79,715 monthly). The same amount over a 12 month period will cost ‎₦343,650 (‎₦28,637 monthly) – 170% of the original loan amount, and a difference of ‎₦104,503!

It is always good idea to check with lenders that they allow early repayments, and also to confirm their terms for doing so. Some lenders might charge you more to repay the balance on your loan early, especially if you are close to the end of the loan term, therefore it is important to check from the onset.


Renmoney is a consumer finance organisation which operates from 89 Awolowo road, Ikoyi, Lagos. They offer cash loans to Lagos-based salaried workers in (proof required) for variable payment terms as little as 3 months.They operate a very simple website which allows you calculate your repayments against your desired loan amount and payment terms. They promise to pay within 24 hours of verifying documents, as long as the applicant is in a regular job and can provide proof of income.

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Eligibility Requirements

  • Be between ages 22 – 55 years.
  • 1 Passport photograph
  • Utility bill
  • Live and/or work in any part of Lagos.
  • Have a secure job paying at least ₦50,000 monthly, into a bank account.
  • Must have a verifiable place/terms of employment.
  • Have a functional current account with a BVN number. You will be asked for a 6 month history of bank statements.
  • Have valid means of identification – International Passport, Driver’s License, National ID Card.

You will find a full list of requirements here.

How To Apply

Office Address and Contact details
Head Office: 89, Awolowo Road, Ikoyi, Lagos, Nigeria.
Surlier: Adeniran Ogunsanya Street, Surulere.
Opebi: Pentagon Plaza, 23 Opebi road, Ikeja.
Lagos Island – 50 – 52, Broad Street, Lagos in CSS Bookshop HouseApapa: No. 13, Park Lane, Apapa.

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Direct Bridge NG

Direct Bridge is a consumer finance company operating in Nigeria and focusing on short-term consumer loans between ₦50,000 and ₦500,000 (depending on income) to low to middle class income earners. Loan terms are variable, between 3 and 9 months.

Eligibility Requirements

  • Must be in employment (paid or self-employed).
  • Must maintain a bank account not less than six months old.
  • Must have a verifiable monthly income
  • Must possess a valid means of identification
  • You must work and reside in Lagos
  • You must not have a history of returned cheques in your account

How to Apply

Salaried workers will need:

  • Valid means of identification (International Passport, Driver’s Licenseor National ID)
  • 1 passport photograph
  • Bank statement endorsed by your bank (6 months preceding date of application)
  • A signed direct debit mandate.
  • Your pension statement.
  • Tax id

If you’re self-employed,

  • Valid means of Identification (International Passport, Driver’s License or National ID)
  • Certificate of Business Registration.
  • 1 passport photograph
  • Business Bank statement endorsed by your bank (6 months preceding date of application)
  • A signed Direct Debit mandate or Post Dated Cheques on business account
  • Tax details
  • A guarantor must be a banker. The guarantor will provide the following:
  • Last 3 months statement of account
  • Work ID
  • Passport photograph
  • A duly completed Guarantor Form
  • Post-dated cheques for the duration

You will need to fill out an application form, (downloadable here) and take to their  office with the  supporting documents from the list above. If approved, they promise to credit your account within 24 hours.

Office address:

703C Thomas Adeboye Drive Off Somide Odujinrin Avenue

Omole Phase II,

Ojodu Lagos.

Phone: 07064300703, 01-3424798

Salary Advance NG

Salary Advance NG is a product of the Addosser Microfinance bank, which provides funding solutions designed to bridge the funding gap for Lagos-based, full-time employees for personal needs. They are able to provide between ‎₦100,000 and ‎₦2,000,000 to customers for up to 12 months. Their easy-to-navigate website helps customers calculate loan repayment options against varying periods and amounts, to access affordability before even speaking to anyone on the phone. This provider requires a guarantor, who is required to be a work colleague with an income bracket above that of the applicant.

Eligibility Requirements

  • Live and be employed in Lagos State
  • Be a confirmed staff of a reputable company
  • Have a verified monthly income paid into a current account with a commercial Bank in Nigeria
  • Not have a history of returned cheques in your statement of account

How to Apply

Applicants will require the following documents:

  • Most recent bank statement showing last 6 months salary payments (must be stamped/endorsed by the bank)
  • Copy of your employment confirmation letter  or recent promotion/salary increase letter
  • NUBAN-compliant postdated cheques from salary account
  • 1 x Recent Passport photograph
  • Photocopy of your staff ID card
  • Completed guarantor’s form
  • Guarantor’s Passport Photograph, post-dated cheque (not required for loans under N250,000) and Photocopy of staff ID card

You will need to print and fill out this form, attach the supporting documents take to the one of their offices.

Office address and contact numbers

Jade: 08062798100 
Mayowa: 08035603519
Hajaray: 08066787187
Lagos Island Office
  • 32 Lewis Street, Lagos Island, Lagos
  • 0813-946-2584
  • 0810-414-8324

Ikeja Office

  • 0816-797-0380
  • 0805-431-1258
Hotline: 0903-741-4749

Smart Credit is a product of Standard Chartered bank, designed to provide unsecured loans of up to ‎₦7.5m to salaried employees, with payment terms of up to 5 years. These loans come with a credit life insurance for applicants between 18 – 65 years of age, so that there is no obligation to relatives in the event of an unexpected death of the applicant.
Eligibility Requirements
  • Minimum monthly net salary of ‎₦75,000
  • Letter of confirmation from employer
  • Valid ID document
How to Apply

You will need to fill out an application form, and have ready the following documents. Your application will then be assessed by the bank, who will contact you by phone and inform you on how to proceed.

  • Signed application form
  • Bank statements for the last 3 months
  • Pay slips for the last 3 months
  • Copy of driver’s license, international passport, national ID or voter’s card
  • Copy of company or staff ID card
  • Marriage or birth certificate (where applicable)
  • Letter of undertaking from employer to domicile your salary with Standard Chartered Bank
  • Utility bills or address verification documents
  • Important Information Documents (IID)

Libra Reliance

Libra Reliance offers personal loans to both employed and self-employed individuals and offer two types of loans:

  • Entrepreneur Personal Loan for 100% self-employed entrepreneurs and
  • Employee Personal Loan for employees of companies.

How to Apply

You will need to apply at the bottom of this page, using the documents from one of the lists below:

Employee personal loan

  • Completed application form
  • Employment letter
  • Staff ID
  • 6 month bank statements
  • Completed KYC Documents
  • Post dated cheques
  • Last 3 months payslips

Entrepreneur Personal Loan

  • Completed application form
  • Collateral (Car, Credit bond, Property with verifiable documents, Bank guarantee)
  • Post dated cheques
  • Completed KYC documents

Office Address

73, Allen Avenue, Ikeja, Lagos.






I'm an grammar-obsessed writer with a passion for finance, innovation, lifestyle design, tech, healthy eating and who knows what else. Nothing makes my day like a nice, chunky comment on one of my posts to sink my teeth into. So go on, make my day :-)


  • l love the information that l got here.Pls l need long term loan of about 500,000.00 to be paid back within a year or two.l’m working for a big organisation but l am nt a staff,my company pays us evry two wks through access bank .How can l get loan with this?

    GLITZ EDET June 9, 2016 9:50 am
    • Hi Edet,

      Have you tried renmoney? You sound like you fit their criteria for lending.

      mrpepe June 11, 2016 8:27 am
  • Which of these companies can be found or can advance a loan to a person who resides outside Lagos but a citizen of and is residence in Nigeria?

    Syrenius June 24, 2016 10:24 am
    • Hi there,

      If you’re outside Lagos, you’re better off getting in touch with a microfinance bank

      mrpepe July 3, 2016 5:17 pm
  • Im a recent graduate who needs a loan of 100000 to settle a debt. Im nt working at al. I cnt start paying once i get a job or start nysc. Is der a platform for this at al?

    Ada July 1, 2016 10:13 am
  • Im a recent graduate who needs a loan of 100000 to settle a debt. Im nt working at al. I can now start paying once i get a job or start nysc. Is der a platform for this at al?

    Ada July 1, 2016 10:17 am
  • Hi, I’m trying to get a loan up to 2million naira. I’m self employed but the problem is I don’t have a registered company. My bank statement shows regular flow of transactions and the amount in the last six months is well over 2million. How can you help with what to do?

    Nike July 30, 2016 7:40 pm
  • I am not a salary earner but I am interested in the loan of 600,000 for a year and I promise to pay back

    fidelis Cynthia August 22, 2016 10:28 am
  • I not a salary earner but I am interested in loan of 600,000 for a year…pls help me out here..promise to pay back

    fidelis Cynthia August 22, 2016 10:30 am
  • I HV bn applying and no response..I can pay back which I am 100% sure and on time even monthly.. Pls consider me…

    fidelis Cynthia August 22, 2016 10:33 am
    • Hi Cynthia,

      It might be quicker to speak to your account officer and if they are proving difficult, switch banks preferably to Sterling or Standard Chartered

      mrpepe August 22, 2016 10:57 am
  • Hello please I need a loan of N300,000 but I don’t have any collateral I work in a fish company as labour here in lagos called (stallion) but the company had closed down but I want to start my own small scall fish business I have my own customers already but need some capital to start and am very sure to pay back in at the given period, I someone to help me on that please

    ABUBAKRI August 27, 2016 7:28 am
    • Hi Abubakri,

      Have you got any collateral?

      If not, I would suggest writing a business plan and contacting UTNigeria, office

      #3/5 Regina Omolara Street, Off Agbaoku Street
      (Behind Tastee Fried Chicken).
      Off Opebi Road.
      Ikeja, Lagos State

      mrpepe August 28, 2016 10:10 am
  • how do i apply for employee personal loan with Libra Reliance?

    Hope Efoghe August 30, 2016 11:21 pm
  • Help…I’m in shit I need a personal loan of #80,000 need a money lender as I have a loan am financing in d bank to end in a few months…I don’t mind paying in spread as I wld give post dated cheques…please can you help.

    Doyin September 29, 2016 5:49 pm
    • Hi Doyin,

      Have you contacted any of the lenders featured? Remember you shouldn’t be asked to pay any sort of fee – admin fee, registration fee, loan confirmation fee, processing fee etc with any genuine lender.

      mrpepe September 29, 2016 6:40 pm
  • Hi,am nt a salary earner but I works at apapa tincan n am in need of loan of #500,000 to use in completing my house.plss hw can u help me

    Shola October 3, 2016 8:55 pm
    • Hi Shola,

      Have you spoken to any of the providers in the post, although I think a concern might be how you expect to make repayments.

      Ethan Okoli October 5, 2016 1:42 pm

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