How to Get Low Interest Loans from Nigerian Banks without Collateral


There are many loan providers in Nigeria, but many of them come with some outrageous interest rates up to 25% in some cases. However, some commercial banks in Nigeria have come to the rescue with the introduction of low interest loans targeted at salary and non-salary earners. If you are wondering how you could get a low interest loan from banks in Nigeria, you have come to the right place; just read this post to the end.

There is no general requirements as every bank has it's own unique eligibility requirements, so I have decided to list them seperately for each bank. If your bank is not on this list yet, don't worry I will be updating this post regularly to showcase new entries.
How to Get Low Interest Loans from Nigerian Banks without Collateral

List of Nigerian Banks that offer Low Interest loans, and How to Apply 

1. UBA Loan

The United Bank for Africa launched its low interest loan platform called "Click Credit" in February 2020. The platform allows customers to borrow up to 5million Naira at an interest rate of 1.58% per month within a maximum duration of 12 months. Check out the requirements below;

1. An Active UBA Salary account
2. The account should have record of your salary payments in the last 6 months

How to Apply for UBA Click Credit Loans
You can easily apply via your mobile phone by dialing *919*28# then follow the on-screen prompts.

For more information on UBA click credit loans, visit

2. GTBank Loan

Guaranty Trust Bank's Quick Credit is the bank's quick and easy to access money-lending platform for her customers. With a much lower interest rate of 1.33%, QuickCredit is available to both salary and non-salary earners. You can also apply and get credited in less than 2 minutes.

An Active GTBank account

How to Apply for GTBank Quick Credit
To apply, simply dial *737*51*51#  

3. Union Bank Loan

Union bank offers quick loans to her customers via its USSD code *826#, the loan comes with a fair interest rate and good duration.

An active Union Bank account

How to Apply
Simply dial *826# and follow the on-screen prompts

4. Sterling Bank Loan

"Specta" is Sterling Bank's online lending platform to acess loans up to 5 Million Naira. Unfortunately, there's no shortcode to apply, but the good news is that it is available to both Sterling bank and non-sterling bank customers, and you can easily get a loan from the platform within 5 minutes via the website or mobile app.

1. 6 months bank statement

How to apply

Simply visit , register, submit your bank statement and wait for their response on your eligibility.

5. Access Bank Loan
Access Bank Payday loan is a fast loan product for both salary and non-salary earners on the Access Bank platform. No documentation or collateral is required.

SEE ALSO: How to Open Access Bank account on Phone

How to Apply
Dial *901*11# or *426*11#

For more information on the Access Bank Pay day loan, visit 

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