Loans in Nigeria Without Salary Account – Are you a student looking for a loan to start up a business or grow an existing one? Or do you want a loan to cover your financial or personal needs? I can share information on various online banks or microfinance institutions in Nigeria that offer loans at low-interest rates to support your business ventures.

However, accessing loans in Nigeria can be challenging for individuals who are not salary earners or those without a salary account. Fortunately, I have a solution for you. That is, ‘loans in Nigeria for non-salary earners.’ So, you as a nonsalary earner or a student can easily apply for a loan.
Understanding the basics of financial products is essential to achieving financial freedom. So, let’s explore your options and pave the way to your financial success.
Key Factors to Consider Before Applying for a Loan without Salary Account
Before applying for a loan without a salary account, there are certain key factors you should consider. They include;
Loan Terms and Conditions: It will be saving for you to know the loan terms and conditions so that there won’t be any forthcoming danger.
Interest Rate: Consider weighing up varieties of lenders to get the best rate since loans in Nigeria without salary accounts generally have higher interest rates.
Repayment Plan: In other to avoid backing out on the loan, make sure you have a sensible repayment plan in place.
Credit History: For nonsalary earners, lenders can still consider your credit history. Endeavor to carry on a beneficial credit history.
All of the above should be well considered before applying for a loan. With that noted you can now check out the list below and choose the loan service that best suits you.
6 Loan Services in Nigeria That Offers Loans without a Salary Account
FairMoney
As an individual, you must have come across the Fairmoney app, either by seeing the app or hearing about it. Meanwhile, Fairmoney is a loan app in Nigeria that allows non-earning students to get loans in less than five (5) minutes. Whenever you need more time to pay, you can get a further loan extension. Loans offered here range from #1,500 to #500,000. So, you can get a loan of any amount provided it is not more than 500,000 naira.
Aella Credit
Aella Credit is a loan app in Nigeria that allows non-earning students to get loans instantly that is within five minutes of application. Its loans are flexible. Yes! As a student using Aella credit, you will not need any collateral before you can get the loan. Most students might have not come across Aella credit, but it is well-known in Africa.
Branch
Branch is also one of non earning loan app in Nigeria, it grants students instant loans (within five minutes). Business owners are also allowed to use this loan app for their business. Within 62 to 180 days, you can get a loan and repay with a little APR of 360%. Branch loan ranges from #1,000 to #500,000 with workable interest.
Carbon
Carbon, formerly known as Paylater is one of the leading online loan apps in Nigeria. It doesn’t only help you get loans as a student without ant salary account but can also help you get fundamental items like home appliances and gadget while you pay back later. Carbon offers you a loan up to a million naira with repayment period ranging from one (1) to twelve (12) month (1 year).
FastCash
FastCash is a mobile loan app created majorly for employees working under the Federal Civil Service of Nigeria. Nevertheless, students or unemployed citizens in Nigeria are also given access to it. Moreover, it is owned and created by FCMB (First City Monument Bank).
Palmcredit
Palmcredit is yet another loan service in Nigeria that offers loans to nonsalary earners. It is a loan app in Nigeria that gives access to personal loan any moment, without a salary account. Palmcredit offers loans ranging from #2,000 to #100,000 without any salary account. And repayment plus loan interest is quite affordable.
Conclusion
Above are some of the lists of loan in Nigeria without salary account. You now know where you can get fast loan whenever you need them. Remember you should not take a loan as free money because you will be borrowed just to help you start up a business or grow your existing business, so you have to repay.