10 Apps to Save, Invest, and Get Loans without Collateral in Nigeria

Cultivating or keeping to a manual money-saving routine can be a daunting task for many people, hence, they resolve to mundane methods such as getting a local piggybank, or saving money inside a hole. However, technologies have provided us with a more friendlier and productive way to save money in Nigeria.

Also, it is difficult to find businesses or projects that you can invest in with little or any amount you have at hand. For this purpose, also, technology has provided us a comfy way to invest and get fruitful (assured) returns within a specified period. Another aspect of business financing these apps has improved on – is the ease of getting small loans without collateral.

So, are you stranded at a particular moment and needs financial assistance, and it seems like no one is available to help out? Actually, these finance management apps below can help you secure loans in a matter of minutes without them requesting for any form of collateral or guarantor. In a glance, hereunder are the ten best loan apps to save, invest and get loans without any collateral in Nigeria.

# Loan App Rating Visit Site
1 PiggyVest Sign Up & get 1K
2 Branch Sign Up & get ₦500
3 Carbon Visit Carbon Homepage
4 Jumia One Visit Jumia One
5 Palmcredit Get Instant Loan on P/C
6 Opay Visit Opay Homepage
7 CowryWise Visit CowryWise
8 Sokoloan Visit Sokoloan Homepage
9 FairMoney Visit FairMoney Homepage
10 QuickCheck Visit Quick Check

The 10 Apps to Save, Invest, and Get Loans w/o Collateral in Nigeria

Come along with me as I take you through these 10 apps that let you save like a pro, invest like a tycoon, earn passive income, and get quick loans without collateral in Nigeria.

1. PiggyVest



  • Hassle-free signup process
  • The interface is very easy to use
  • There are lots of investments opportunities
  • Allows users’ to save any amount the wish
  • Flexible withdrawal process
  • Enticing referral program


  • Interests are paid upfront
  • Does not support loaning

PiggyVest happens to be one of the very best platforms where you can invest in several projects at a go with the little amounts of money you have.

Also, PiggyVest (as a registered microfinance bank in Nigeria) provides users’ with the option to lock-up some funds for a specific time-frame, and promises a massive interest of up to 20% return on Investments (ROI).

There are several flexible features that are available on the PiggyVest mobile app for saving and investing for good returns. You can even save dollars as well as do regular inter-bank transfer transactions with the Providus bank account number that’s provided on Sign up.

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2. Branch

branch app


  • Supports multiples ways to pay back loans
  • Instant loan payments
  • Fair interest rates
  • Flexible referral program


  • Inability to remove a credit card after repaying a loan

The branch loan app is a good quick loan app that lets you get access to quick loans without any commitment or stressful processes. Also, Branch offers a variety of ways to pay back your loan.

More interestingly, completing your account signup process to use Branch is swift and seamless. However, one major thing you may not like on this app is that it doesn’t allow you to remove your CC after you have added it to an account.

[Sign up here or enter obasi5bd83 promo code to get ₦500 free].

3. Carbon (Paylater)



  • The interest on fixed deposits is over 16% per annum.
  • It comes with a variety of features and options for saving, making payments, getting loans, and investing for the future.
  • Swift registration (signup) process
  • The mobile app features an easy to navigate interface
  • Supports local money transfers


  • The loan interests are quite high

Previously know as PayLater, Carbon is a platform that lets you pick up loans up to a hundred thousand Naira or more. Also, you can pay merchants, bills, as well as recharge from the Carbon mobile app.

Carbon also has an investment plan you can trust to invest some amount of money and get paid back with considerable interests. You are going to love this app because it is packed with features that are all useful and very promising.

4. Jumia One

Jumia One


  • Comes with a lot of features
  • Supports bill payments, merchant payment, hotels reservations, flight bookings, and more
  • Instant loan payments


  • You can’t invest with this app
  • The savings feature is offered by a third party not Jumia

Many Nigerians are already using Jumia one for bill payments and buying of airtime. However, the app is not only meant for those two purposes. You can actually request for loans from the Jumia One app and get the money paid into your chosen bank account after you must have completed your profile setup.

Jumia One is stocked with a lot of features you’d definitely like to explore.

5. Palmcredit



  • Instant disbursement of loans to your Nigerian bank account
  • Stress-free registration process
  • No collateral is needed
  • Easy to use


  • Only for loans
  • Poor interest rates compared to others

Palmcredit is also one of the best apps that let you access loans without collaterals. The amount of money you can be given as a loan will not exceed NGN100,000; however, if you build a good credit score by paying back previous loans before due dates, you will be able to access higher loans and that, at a reduced interest rate. Palmcredit is all about loans and nothing more.

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6. OPay



  • Offers good bonuses as you keep using the app’s features
  • Hassle-free payment and loan processes
  • Good interest rates on loans
  • You will find good investments options


  • You will notice quite a lot of glitches using the app

With many options and features, OPay is one of the best apps that lets you save, invest, and request loans without collateral. OPay offers bonuses as you use the mobile app to pay bills, save, or run money transfers between Nigerian banks.

The platform is a vast one indeed; it lets you invest with OWealth, save and pay bills with OPay, book rides with OBus, take a loan with Okash‎, and many more. Interestingly, all these services are available from the OPay app.

7. CowryWise



  • Offers good investments opportunities
  • Multiple saving plans
  • The app is easy to understand and use
  • Quite many flexible features


  • Does not support loans
  • You can withdraw your money immediately, you must wait till its maturity date after issuing for withdrawal

Investing in projects and saving for different purposes takes a new approach when you use CowryWise. There are many ways to save and invest in the CowryWise platform.

More interestingly, you can access and withdraw your savings to any of your Nigerian bank accounts, as well as find good investment opportunities where you can invest some amount of money. The interest rates offered by CowryWise are quite enticing.

8. Sokoloan



  • Good customer support from Sokoloan
  • Seamless processes
  • Many ways to pay back a loan


  • Super high interests demand, even for lower (or weekly) payment term
  • Only for loans
  • The interest rate is very discouraging (especially for small busineses). It can hardly be a first choice for getting small business loans. 

Sokoloan is also one of the best apps that offer loans without collateral to Nigerians. The loans are sent to your Nigerian bank account a few minutes after you make the request.

Using Sokoloan has its own advantages, which include fair interest rates and swift processes. The app works only for requesting loans and nothing more.

9. FairMoney



  • Friendly interest rates
  • Supports bill payments and more
  • It has a nice and intuitive app interface
  • Fast loan payment
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  • Does not support short or long-term savings and investment
  • Some glitches
  • Asks for gurantor’s contact details unlike the other loan apps in our list

FairMoney is one of the finance apps that lets you request loans from anywhere you are and at any time. The registration process is straightforward and the app is obviously very easy to use.

Also, the FairMoney app does not only work for requesting loans but you can pay bills, top-up airtime, and do more with the app. FairMoney loan interests look good and friendly.

10. QuickCheck



  • Disburses higher amount of loans
  • Easy to use
  • Straightforward signup process
  • Fair interests


  • The app does not have the option for saving and investing

This app is only meant for requesting loans and nothing more. QuickCheck allows you to pick up to NGN200,000 as a loan, and the limit keeps increasing as you pay back your loans in time.

Also, the QuickCheck loan app does not request for any collateral; however, after you register to use the app, the app automatically runs a credit score check to know if you’re eligible for a loan. If it turns out that you’re not eligible, you have to try again after two weeks.

Conclusion and FAQ:

These are the best money (Fintech) apps in Nigeria. They let you request for instant loans from anywhere you are in Nigeria.

Also, some of these apps include the option for you to save and invest in promising projects, or you can use them to set up a personal savings plan.

Are the loan apps in Nigeria legit and risk-free?

Yes, these ten loan apps are legit. While there are many fraudulent loan apps that are built to harvest user’s data, these ten apps are legit, regulated by CBN, and uses industry-standard encryption methods to protect their user’s information.

Can One Lose Money with Piggyvest Investment Programs?

No, you can’t lose money with Piggyvest’s “Investify” program as they are 100% risk-free. Every program is manually vetted and fully ensured before they’re allowed to be advertised on their platform.

Which is better b/w normal fixed deposit and these apps?

Well, I’ll go with Piggyvest and Carbon (Paylater) short term investment programs. This is because you can’t get anything close to the interest rate they are offering in any retail bank in Nigeria. Also, you’ll get a good interest rate irrespective of short (1 month) or long term (several months) fixes.

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Samuel Odamah
Ebuka O. Samuel is a technical writer at 3rd Planet Techies Media. He's a tech enthusiast, Android gadgets freak, consumer electronics tweakstar, and a lover of wearable techs.


  1. Collins Nwokolo Collins Nwokolo

    Thanks for sharing this wonderful piece of information about loan apps online. I really appreciate it.


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