This post contains a list of the best loan apps without ATM card in Nigeria.
Ever wondered why you need an ATM card to access a loan when you’re strapped for cash? You’re not alone.
In Nigeria, the hassle of getting a loan without an ATM card is one obstacle too many. That’s why we’ve put together this ultimate guide on loan apps that don’t require an ATM card.
So, stick with us to discover how to get that quick cash, no plastic involved!
Top 12 Loan Apps Without ATM Card in Nigeria 2023
Here is the list of the best loan apps that don’t require ATM (Debit) cards in Nigeria in 2023:
1. Branch
Branch loan app is a reliable fintech app that helps users with everyday financial transactions such as money transfers, savings, investing, airtime purchases, bill payments, and lots more.
Also, using the Branch app, you can get an urgent loan without atm card in Nigeria. The platform offers a fair interest rate and flexible repayment methods.
Branch offers personal loans ranging from 2,000 to 500,000 Naira in minutes. The app also offers an amazing loan tenure which usually ranges from 30 days to 1 year.
Features
- Loan Tenure: 1 – 12 months
- Loan Amount: ₦1,000 to ₦500,000
- Interest Rate: 15% – 34%
- Requirements: Personal details, BVN, and no ATM card.
Pros
- Versatile: Offers a range of services including money transfer, bill payment, and loans.
- Quick Disbursal: Get a loan without an ATM card in Nigeria in minutes.
- Flexible Tenure: Loans last from 30 days to 1 year.
Cons
- Limited Initial Amount: First-time borrowers might get lower loan amounts.
Related: 6 Best Loan Apps without BVN in Nigeria
2. Renmoney
Renmoney App is one of the best loan apps that work on both iPhone and Android in Nigeria. It is a finance app that let people save and transfer money, pay bills, purchase airtime, and of course, take instant loans from their phones.
Renmoney is reliable as it is one of the most popular lending platforms in Nigeria. It has good loan terms and conditions and doesn’t require atm card to get loan applications approved.
Renmoney loan amount ranges from 6,000 to 6 million naira with an interest rate of up to 9.33%. You can take a loan for up to 24 months and pay gradually.
Features
- Loan Tenure: 3 to 24 Months
- Loan Amount: ₦5,000 to ₦6,000,000
- Interest Rate: 2.4% – 9.33%
- Requirements: BVN, bank statement, personal details.
Pros
- Multi-platform: Available on both iPhone and Android.
- High Loan Limit: You can borrow up to 6 million Naira.
Cons
- May require collateral for higher amounts.
Read Also: Top 14 Urgent Loan Platforms Without Documentation in Nigeria
3. Aella Credit
Aella is a very reliable and transparent urgent loan app without atm card in Nigeria. This app offers Nigerians instant loans within just five minutes, and no collateral or documentation is needed.
All you need to get a loan from Aella is just to download the app from App Store or Play Store, create an account using your original details and submit a loan application.
This app offers a reasonably huge loan amount with a relatively long tenure and juicy interest rates.
Features
- Loan Tenure: 2 – 12 months
- Loan Amount: ₦1,500 to ₦1,500,000
- Interest Rate: 2% – 20%
- Requirements: App download, account setup, and no ATM card.
Pros
- Quick and Easy: Get an urgent loan without ATM card in just five minutes.
- No Documentation: Zero paperwork involved.
Cons
- Interest Rates: Rates can be on the higher side for shorter loan tenures.
4. Umba
Umba is another fintech app that could offer you an instant loan without debit card needed in Nigeria. The app also doesn’t require a guarantor, collateral or any documentation whatsoever to get loan applications approved.
Just by downloading the Umba app, signing up, and verifying your profile, you can get an instant loan ranging from 3,000 to 300,000 Naira with a fair interest rate. You can also access Umba loans via their website.
Features
- Loan Tenure: 1 – 2 Months
- Loan Amount: ₦3,000 to ₦300,000
- Interest Rate: 10% – 21%
- Requirements: KYC verification, and no ATM card.
Pros
- Hassle-Free: No guarantor or collateral required.
- Versatile: Available as an app and via their website.
Cons
- Smaller Loan Amounts: The maximum you can borrow is 300,000 Naira.
Related: 15 Best Business Loans Without Collateral in Nigeria
5. Fairmoney
Fifth on our list of loan apps without ATM card in Nigeria is Fairmoney, a popular lending app in Nigeria that gives loans without documentation or collateral. Up on that, you may wish not to add your atm card and get your loan approved in minutes.
You can just download the Fairmoney app, sign up, add your personal details, and apply for a loan.
Within minutes, you’ll get the money credited into your fairmoney account. You can transfer the money into your bank account, or use it to pay online such as buying airtime, paying bills, and so on.
When it comes to a reliable loan app without atm card in Nigeria, Fairmoney is one of the best as it offers low interest on loans with an amazing tenor ranging from 1 to 18 months.
Features
- Loan Tenure: 1 – 18 months
- Loan Amount: ₦1,500 to ₦500,000
- Interest Rate: 2.5% – 30%
- Requirements: Personal details, account setup, and BVN.
Pros
- No Collateral: Loans approved without collateral or documentation.
- User-Friendly: Easy-to-use app interface.
Cons
- Limitations: May have a cap for first-time borrowers.
6. Quick Credit
Quick Credit is an online lending platform owned by GT Bank. On this platform, you can get offered an instant loan without atm card in Nigeria.
Loan offers from Quick Credit usually range from 10,000 to 5 million Naira without any collateral or guarantor. These loans have a relatively long tenor ranging from 1 to 12 months, and also a flexible repayment method.
Unlike other bank loan apps, Quick Credit loan is available to both salary earners and self-employed individuals.
Features
- Loan Tenure: 1 – 12 months
- Loan Amount: ₦10,000 to ₦5,000,000
- Interest Rate: 1.33% – 2%
- Requirements: No ATM card, no collateral or guarantor.
Pros
- High Loan Amounts: Borrow up to 5 million Naira.
- Open to All: Available for both salary earners and self-employed folks.
Cons
- Bank Affiliation: Exclusively owned by GT Bank, could be limiting for some.
Read Also: List of 30 Fake Loan Apps to Avoid in Nigeria Right Now
7. Irorun Loan App
Irorun is a new loan app without ATM card needed in Nigeria. This platform is focused on microloans. That is they offer small loans mainly for personal purposes.
By just downloading the app, and registering an account, you could get granted a minimum of 5,000 and a maximum of 50,000 Naira worth of loans.
This app is considered one of the most reliable loan apps that don’t require atm card, as it offers realistic loan amounts backed with tons of positive feedback.
The Irorun lending platform loan terms are very flexible, and they offer a relatively long loan tenure of up to 180 days with a fair interest rate. The app is available for both iPhone and Android users.
Features
- Loan Tenure: 2 – 6 months
- Loan Amount: Up to ₦50,000
- Interest Rate: 4.5% – 35%
- Requirements: App download, account setup, and BVN.
Pros
- New Player: Backed by tons of positive feedback.
- Microloans: Focuses on small, personal loans.
Cons
- Limited Amount: Max loan amount is just 50,000 Naira.
8. QuickCheck
With QuickCheck, there are no long queues, no long wait times, and no collateral, documentation or guarantor needed to get an urgent loan without atm card.
With just your smartphone you can easily get access to quick cash loans credited straight into your bank account in minutes.
QuickCheck is a very popular loan app in Nigeria. It is also very reliable, as it has over a million downloads on the google play store with lots of positive reviews. On the app, you can get access to instant loans worth up to 1 million Naira.
It also offers flexible payment terms that let you pay gradually for up to 1 year period. While looking for the best loan app without atm card in Nigeria, QuickCheck shouldn’t be left off the list.
Features
- Loan Tenure: 1 – 12 months
- Loan Amount: ₦1,500 to ₦500,000
- Interest Rate: 2% – 30%
- Requirements: Smartphone, personal details, and no Bank details.
Pros
- High Loan Amount: Up to 1 million Naira in loans.
- Flexibility: Payment terms that stretch up to a year.
Cons
- Popularity: High demand might lead to slower processing times.
See Also: Top 10 Banks that Give Loan Without Collateral in Nigeria
9. Okash
Okash is another popular lending app in Nigeria. This app offers personal loans to Nigerians within minutes.
Unlike other loan apps without atm card in Nigeria, Okash gets loan application assessed quickly, and get loans disbursed directly into borrowers’ account instantly if approved.
Okash loans come with fair interest rates, as well as an amazingly long tenor. The repayment method of Okash loans is also flexible allowing you to use multiple options.
Features
- Loan Tenure: 1 – 12 months
- Loan Amount: ₦3,000 to ₦500,000
- Interest Rate: 9% – 30%
- Requirements: Personal details.
Pros
- Quick Approval: Fast loan assessments.
- Flexibility: Multiple repayment options available.
Cons
- Limitations: May have a cap for first-time borrowers.
10. FlexiCash (PalmPay)
Palmpay is another leading online banking app that allows you to get an instant loan without debit card needed in Nigeria. In general, palmpay lets its users send and receive money, pay bills, buy airtime, invest, take loans, and lots more.
Both Android and iPhone users can get loans on Palmpay through its lending service called the Palmpay Flexi Cash. This service offers a reasonable loan amount based on your credit score/record using users’ details with them.
The better your credit score, the higher the loan amount you’ll be offered. Flexi Cash loans last from 15 to 30 days with an amazing interest rate. The more you borrow and pay back, the higher your subsequent loan limit.
Features
- Loan Tenure: 1 month
- Loan Amount: ₦1,500 and above
- Interest Rate: 15% – 28%
- Requirements: Personal details, credit score evaluation, and no ATM card.
Pros
- Credit-Based: The better your credit score, the higher the loan amount.
- Quick Tenure: Loans last between 15 to 30 days.
Cons
- Short Loan Period: Maximum loan tenure is 30 days.
Check Out: Loan Apps without Credit Check in Nigeria
11. Page Financials
Page Financials is a fast-rising fintech platform that offers you the opportunity to get an urgent loan without an ATM card in Nigeria.
This platform focuses on providing quick, hassle-free loans to meet both personal and business needs.
Features
- Loan Amount: Ranges from ₦100,000 to ₦5 million.
- Interest Rate: Competitive rates around 5%.
- Loan Tenure: From 3 months to 12 months.
- Requirements: Just your BVN and personal details, no ATM card needed.
Pros
- No ATM Card Required: Truly a loan app in Nigeria without an ATM card.
- High Loan Amounts: You can borrow up to ₦5 million.
- Flexible Tenure: You get up to a year to pay back.
- Speed: Loans get approved quickly, usually within a few hours.
Cons
- Limited First-Time Borrowing: New users might get a smaller loan amount initially.
12. ALAT By Wema
ALAT by Wema is another great option if you’re looking to borrow money without an ATM card in Nigeria.
This app provides a range of financial services, including easy-to-get loans, without the need for an ATM card.
Features
- Loan Amount: From ₦50,000.
- Interest Rate: Around 2%.
- Loan Tenure: 1 month to 6 months.
- Requirements: BVN, personal details, and bank statement, but no ATM card.
Pros
- No ATM Card Needed: An excellent loan app that doesn’t require a debit card.
- Low Interest: Competitive interest rates starting as low as 2%.
- Multi-Functional: Beyond loans, the app offers savings and investment options.
- User-Friendly: The app is easy to navigate and has a clean interface.
Cons
- Short Loan Tenure: Maximum of 6 months might be limiting for some.
- Approval Time: Sometimes it takes a day for loan approval.
How to Choose the Right Loan App Without ATM Card for You
Now that you know the best loan apps without ATM card in Nigeria, making the right choice can be a little confusing.
With so many options, how do you know which app can borrow you money without an ATM card that’s perfect for you? Here’s a quick guide:
Compare Interest Rate
Always compare interest rates. The lower the better, but also check if it’s a flat rate or reducing balance rate.
Compare Loan Tenure
Some apps offer loan tenure as short as a few days, while others can extend up to 24 months. Choose according to your repayment ability.
Consider Loan Amount
Depending on your needs, you might want to go for apps that offer a higher loan range. Whether it’s ₦1,500 or up to ₦50,000,000, make sure the app meets your financial needs.
Consider Repayment Methods
Opt for loan apps that offer convenient repayment methods like wallet fund or bank transfer, so you can repay the loan without hassle.
Read User Reviews
Always check what other users are saying about the loan app. This can give you an idea about their customer service and reliability.
Check for Additional Features
Some loan apps offer other financial services like money transfers and airtime purchase. If you need these services, that’s a bonus.
How to Apply for a Loan Without ATM Card in Nigeria on These Apps
Getting a loan without an ATM card in Nigeria has never been easier. Follow these steps to apply for an online loan without an ATM card in any of the apps mentioned above:
Download the App
First off, visit the Google Play Store or Apple App Store and download the loan app that doesn’t require an ATM card.
Sign-Up
Open the app and complete the registration process. You’ll usually need to provide your personal details and sometimes your BVN, but no ATM card number is needed.
Apply for the Loan
Navigate to the loan section and choose the loan amount and tenure that suit you.
Submit Application
Once you’ve filled out all required details (which won’t include ATM card details), hit the submit button.
Wait for Approval
Usually, it only takes a few minutes to get approved. Some apps might take a bit longer but generally, you’ll know pretty fast.
Get Funded
Once approved, the loan amount will be credited to your account or app wallet. You can then transfer it to your bank account or use it for other transactions like bill payments or airtime purchases.
Repay the Loan
Use the app’s repayment methods, whether it’s wallet fund or bank transfer, to repay the loan when it’s due. Late payments could affect your credit score, so be timely!
By following these steps, you can easily get a loan without an ATM card in Nigeria, from apps that don’t require an ATM card.
Whether you’re looking to borrow money without an ATM card for personal or business needs, these apps have got you covered.
Get a Loan Without ATM Card – FAQs
Can I get a loan without a debit card in Nigeria?
Yes, there are several loan apps in Nigeria that offer loans without requiring a debit card.
Which app can I use to borrow money without an ATM card?
You can use loan apps such as Fairmoney, Branch, and Renmoney to borrow money without an ATM card in Nigeria.
Do loan apps request an ATM card to borrow money?
No, many loan apps in Nigeria do not request an ATM card to borrow money; they primarily require personal and income details.
Conclusion
Loan apps without ATM card in Nigeria are providing a much-needed solution for individuals and small businesses that may not have access to traditional banking methods.
They are providing a new avenue for access to loans, allowing people who do not possess an ATM card to improve their financial situation.
With a few clicks of a button on your smartphone, you can apply for and receive loans, regardless of whether or not you have an ATM card.
With this post, I believe you’ve known the best loan app without atm card in Nigeria for you, from this list of loan apps that don’t require atm card provided in this post.
Cheers!
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