I need a loan of 50000 naira, which app or website can I borrow the money in a minute without collateral in Nigeria?
It’s true that their are several fast loan apps in Nigeria that you can easily borrow 50k from but can they give you the loan as a new user?
Few days ago, a friend of mine had an issue which 50k can easily help him to solve, he came to my POS business centre and told me to borrow him #50,000 that he will return it back to me after 7days.
The fact is that I had that N50k but, it’s for my POS business or how will I be able to offer my service without cash.
He told me “I need a loan of 50000 naira” which app can borrow me money without collateral with low interest rate?
It is very good to work and save money but the fact is that saving money for unforeseen expenses is not easy but when the financial issues hit us hard where can we run to?
There are several fast loan apps that can borrow you money within a minute which my friend later request and got loan from within few minutes as a new user on the platform.
Requirements to get N50000 loan in Nigeria
Here are the basic requirements to apply for loan of N50k in Nigeria, either as a student, or graduate.
- Name
- Date of Birth
- Identity Card
- Residential Address
- Bank Verification Number (BVN)
- Employment Status
- Monthly Income (Bank Statement)
- Guarantor information
- Loan Purpose.
Reliable platforms to get a loan of 50000 naira
Below are apps or websites that you can visit to apply for loan of above N50,000 without collateral.
But, you should be ready to borrow amount you can easily repay back.
1. RenMoney
Renmoney is one of the best loan platform where you can easily apply for loan and get it in less than 30 minutes. All you need to do is to provide your bank verification number and every other information they may request for.
Once you fill all the required details they will provide you with your loan worth which will not be less than N50,000.
In case you didn’t know, RenMoney is a CBN regulated fintech company that operates under a microfinance banking license.
The good news is that you do not need any collateral, and you can easily repay the loan anytime you wish before the repayment date reach.
How to Apply for a Renmoney loan?
To apply for loan on renmoney you need to download their app or visit their official website to sign up. Before you apply for the loan here are documents needed below.
- A valid government-issued ID card (driver’s license, passport, national ID card)
- Bank statement (6 months)
- Utility bill (3 months) to verify your home address I.e. PHCN, waste management (LAWMA, etc), water bill, cable bills (DSTV), rent agreement etc
- Passport photographs
- Bank Verification Number (BVN)
After entering all these details on the loan application section, you can wait for the loan to be approved.
2. Loanspot
Without any doubts, loanspot have been proved to be one of the best platform that help individuals get urgent loan, here you can easily request for loan of 50,000 Naira.
This platform helps individuals who want to apply form loan get connected to lenders. This platform was created to connect lenders to borrowers in Nigeria it was designed just like marketplace like Uber and bolt.
3. Fairmoney
If you need a loan of 50,000 naira within 5 minutes, fairmoney can easily offer you the loan without collateral. It is a licensed loan app that provide fast loan to their customers to solve their immediate financial problem.
The major requirement is your bank verification number (BVN) and your debit card to be able to access their loan options.
You can apply for loan ranging from #1,500 to #1,000,000 with repayment period from 61days to 18months at monthly interest rates that ranges for 2.5% to 30%.
There are two options to repay the money, using debit card connected to the app and also repayment through your fair money bank
4. Carbon
If you are looking for where you can get a loan of 50,000 naira, then carbon loan platform may be the best platform to visit as they offer their customers instant loan without collateral, no guarantor or long forms to fill.
Do you want to start a small business of resolve an emergency issues which require money why not get a loan from carbon with loan interest rate.
Carbon is a digital banking platform, created to offer instant loan to people to help them resolve their emergency financial problems.
The good news is that once you repay a loan it will help you to unlock higher loan amounts and lower interest rates by repaying loans on time.
How to apply for loan of N50,000 on carbon
- Download and install the Carbon app from the Google Play store or App Store
- Create an account by providing them with your personal details. It’s safe and secure.
- Apply for your desired loan, they will review your application and let you know where you stand.
- Get money in your Carbon wallet instantly.
- Once approved, they will disburse the funds in your account almost imediately.
- Unlock higher amounts
However, their loan process is designed to fit your needs and help you grow. Repay on time and unlock higher loan amounts and lower interest rates
5. Aella Credit
Aella credit is a smart financial solutions portal designed for everyone. On the platform you can access loan, pay bills, save, insure your health etc.
This platform helps individuals and business owners to access loans of above N50,000 with low interest rate.
How long does it take to process an Aella Credit loan?
The whole process can be completed in 5 minutes. Once your application has been completed and you accept the loan offer provided, your information will be reviewed and the decision on the loan will typically be made within minutes.
If approved, funds will be received in 5 minutes of the process being completed.
How do I apply for a loan
- Download the Aella App
- Create your account
- Fill in all required fields with valid and appropriate information
- Click the “Check Eligibility” button to see how much you are eligible to borrow
- Apply for loan that works for you
- Receive funds in your Aella Wallet.
Conclusion
We have been able to discuss how you can get loan of 50,000 naira in Nigeria without collateral or going to bank.
However, you need to know that before you get a loan from any legit loan apps make sure you seriously need the money for something important, but do not borrow loan that you can’t repay.
The worst thing that can happen to you is borrowing money from fake loan apps that have been banned by CBN, if you fail to pay at the usual time, they may access your contact and start calling people on your contact list.
To avoid blackmail, I will advice you to make sure you get a loan from CBN-approved loan apps.
Finally, if you still come to me and said “I need a loan of 50,000 naira” the one listed above are what I will still show you.
