Best Loans For Unemployed in Nigeria - 2023


                                             Loans For Unemployed in Nigeria

Are you looking for loans in Nigeria but can't have access to any because you are unemployed? Do not worry, you have come to the right place. In this article, we have compiled a list of some of the loans for unemployed in Nigeria.

Collateral has made it difficult for many people to access loans in Ghana. Many banks and savings and loans companies prefer offering loans to individuals employed in the government or private sectors.

However, there's good news. In recent times, many savings and loans companies have come out with a plan and means to grant loans to unemployed individuals in Nigeria. You can access most of these loans through the companies' websites, forums or apps.

These loans do not require collateral or paper work to apply. All you need is a smart phone or computer with good internet connection. Continue reading to find out some of the loans for unemployed in Nigeria

Loans For Unemployed in Nigeria

1. Aella Credit Loan 

Aella is a financial institution located in Nigeria. The goal of the institution is to help foster financial inclusion in the African continent. Aella loan app offers loan services to individuals in Nigeria.

How to Apply for Aella Loan

  • Download the Aella App from Google Play Store
  • Create your account by filling out the details. Make sure you enter your details correctly
  • Enter your loan amount and apply
  • Receive your money instantly into your mobile or bank account. Ensure you pay on time to avoid any penalties.

2. Branch Loan

Branch is a top lending platform where you can access quick loans online in Nigeria. The app is used by over 1 million Nigerians. The company operates in other countries such as Kenya, India, Mexico, and Tanzania.

How to Access Branch Loans

  • Go to Google Play Store to download and install the app
  • Create your accounts by filling out your details. Make sure you enter correct information 
  • Enter the amount you wish to borrow and click 'apply'
  • If you are qualified, your money will be deposited direct to your bank account. Pay on time to avoid any penalty

3. QuickCheck Loan

QuickCheck is a loan company in Nigeria that provides instant loan services to individuals or groups in Nigeria. QuickCheck Loan is believed to be a legit loan app with affordable charges. The company aims at offering digital financial services to help you get closer to your personal and business goal.

How to get loan from QuickCheck

  • Download the QuickCheck Loan App on Google Play Store for free
  • Sign up for an account by entering your correct details
  • Apply for your preferred loan amount and wait for feedback
  • You will be credited your money if you are qualified 

4. FairMoney Loan 

FairMoney Loan app is a legit financial institution that offer comprehensive and affordable online loans to individuals in Nigeria.

FairMoney Loan amounts range between N1,500 to N1,000,000 with a repayment period from 61 days to 18 months at monthly interest rates that ranges from 2.5% to 30%.

Download App here:

5. Paylater loan

Paylater loan app is  one of the most commonest loan apps in Nigeria for the unemployed.. Paylater is an easy-to-use and entirely online lending platform that provides short-term loans to individuals and small businesses in Nigeria.

The loan app is available in countries like Nigeria, Portugal, United Kingdom, South Africa and Ghana. It has over 40 employees. 

How does paylater loan works in Nigeria?

All you need to do is to download the app for free on Google Play Store.

6. PalmCredit Loan

PalmCredit is another loan company in Nigeria that provides loans to individuals without collateral. This means that you do not need to be employed before accessing the loan. 

PalmCredit has over 70k on Google Play Store. This means that it has a large market. 

How to get a loan on Palmcredit

  • Download and install the app from Google Play Store
  • Complete your registration. Make sure to provide legit information
  • Apply for your loan
  • When approved, your money will be deposited direct to your mobile or bank account

7. Baobab Loan

Another company that provides loans for small business owners in Nigeria is the Baobab Group Limited. The minimum and the maximum loan amount are N50,000 and N50,000,000 respectively.

Baobab Loan repayment period is between 1 to 24 months. Disbursement is within 72 hours.

8. Quickcredit Loan

Quickcredit is a lending company in Nigeria that provides short-term loans to individuals. The aim of the loan company is to help meet and cover unexpected emergency expenses and urgent cash needs.

With Quickcredit, you can apply for up to N100,000 loan. The loan also has a tenure of up to 90 days. There are two ways to apply for Quickcredit loan: through the company's website or app.

Jumia Loan

9. IMoney Loan

Another app that offers loans to individuals in Nigeria without collateral is the IMoney Loan app. Located in Lagos, Nigeria, IMoney it easier for people in Nigeria to access loans anytime and anywhere.

IMoney Loan can be accessed through Google Play Store. All you need to do is to download the app, sign up with your phone number. 

10. Quickteller Loan

Quickteller is a financial institution that makes it possible for individuals in Nigeria to make online transactions such as sending and receiving money, airtime, and paying bills. 

Quickteller also provides loan services to employed and unemployed in Nigeria. Quickteller offers up to N50,000 loan depending on the individual's financial history.

In order to use the service, all you need is to register on their website. Sign up on their website by providing your personal details. Make sure to provide correct information about yourself.


There are other loans for unemployed in Nigeria that we could not add to this list because of our inability to access their data. I suggest you download or visit each company's website to know more about their loan requirements and other relevant information. If you have any question, you can leave it in the comments section.

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