Can you get loans in Nigeria without a salary account?

Can you get loans in Nigeria without a salary account?featured image

Loans, loans, loans. We have all heard about them or even taken one at one point or the other. The truth is that loans have gotten a bad reputation because over the years, loans have become synonymous with collaterals. This reminds me of the time when my dad wanted to get a quick loan from one of the popular traditional banks. Just like their name goes, they were also very traditional in their approach as they requested everything plus the kitchen sink as collateral.  

Now fast forward a couple of years and collaterals have been substituted with salary accounts. People became able to access loans with their salary account. This improvement or innovation was mind blowing to say the least. We thought we had seen the best thing after sliced bread, but we didn’t know how wrong we were. 

It’s the year 2022, and you now have the ability to access loans without a salary account and without collateral. Yes, you heard it right! Current apps provide loans for non-salary earners as well. In today’s world, people can get an instant loan without collateral and with little documentation at the tap of a screen. It is fast, easy, reliable, and a long way from what my dad had to do to get a simple loan. 

Today, we are highlighting a few loan apps in Nigeria that allow you access loans at the snap of your fingers without jumping through hoops. Apps? Yes! Apps. Today, getting a loan in Nigeria can be as easy as downloading the app and asking for one. Don’t believe us, let’s show you.

List of Loan Apps which give loans without salary account


FairMoney is a loan app in Nigeria and India that allows customers to get loans in under 5 minutes. With FairMoney, you can take loans without a salary account and any of the requirements you’d normally need for a loan. You can also get loan top ups and loan extensions, if you need a little more time to pay back.

Here’s how it works:

1)Download the FairMoney app on your android phone

2)You get asked for some basic information like your name, phone number and BVN 

3)FairMoney’s AI will then collect data from your smartphone as well as your credit history to determine if you are eligible for a loan. This takes less than 5 minutes.

4)Once the AI determines your eligibility ranking, FairMoney will offer you a loan amount. This may be over or below the amount requested.

For more information into how FairMoney’s loan eligibility works, click here.


Branch also grants customers instant loans. They are present in 4 countries (Kenya, Tanzania, India, Nigeria) and typically grant loans ranging from ₦2,000 to ₦500,000. They’ve got a quick approval process for loans and their loans are great if you want loans without a salary account.

Here’s how to get a branch loan:

1)Download the app from the playstore or ios

2)Sign up with information such as bank account number, BVN, phone number and your Facebook account

3)Branch’s technology then gets to work.

4)Afterwards, you’ll see loan offers you can apply for.


QuickCheck grants fast loans by using smartphone data and credit scores. QuickCheck offers you a way to take care of necessities easily before your next payday/profit comes along.

Here’s how to get a Quick Check loan

1)Download the QuickCheck app

2)Sign up

3)Apply for a loan

4)Download the QuickCheck app


Carbon is a loan app that not only helps you get quick loans without collateral, but can also help you buy necessities like gadgets and home appliances while you pay back later. With carbon, you can access up to ₦1,000,000.

How to get a loan on carbon

1)Download the carbon app


3)Apply for a loan

4)Carbon reviews your application and lets you know how much you can access.

5)You accept and receive the loan


Aella is a good loan app that gives quick approval for loans. They are steadily rising and are loved for their easy and convenient process. They offer quick loans for non-salary earners and their loan offers go up to ₦1,000,000.

How to get a loan on Aella

1)Download the Aella app

2)Register and input your details

3)Apply for a loan

4)You’ll get a notification if your loan is approved.

So whenever you need a loan without a salary account and don’t want the stress of submitting loads of documents or collateral, Download the FairMoney MFB App and access quick loans up to ₦1,000,000. You also get to enjoy benefits like loan top-up and loan extensions for convenient repayment plans.

Now that you know the possibilities of getting a stress free loan without a salary account, you can also click here to clear up even more of the myths you may hold regarding loans.

FairMoney MFB

Curious about interest rates and FairMoney? see FAQs below

What will be the interest rate if I take a loan without collateral?

Interest rates differ from app to app. FairMoney’s interest rates range from 2.5%
to 30% depending on the amount you want and duration of the loan i.e the length of time for repayment.

How much can I borrow without collateral?

It’s different for each person. FairMoney uses smartphone data and credit score data to determine how much to give each person i.e. the higher your credit score and the more credit alerts you get on your phone over time, the higher your chances of getting a higher amount. Know more about credit scores here.

What are the benefits of taking a loan with FairMoney?

FairMoney offers loans of up to ₦1,000,000 and provides access to these loans in under 5 minutes. You also enjoy benefits like loan top-up and loan extensions for a more convenient repayment process. FairMoney MFB offers all in one convenient banking with access to 30 free transfers monthly, free ATM card, discounts on bill payments, interests on savings and much more.

If you still have any queries, we are happy to help. You can reach out to us through our social channels: