Loan without Collateral in Nigeria- How To Get Up To 300,000

personal loan

This is one topic many Nigerian have always wanted to read about including yourself, thou I might be wrong but as far as I am concerned I have gotten more queries about this topic than any other topic aside mini importation business, maybe because of the high rate of unemployment in the country or for some other reasons.

So now lets go straight to the point, this loan I will be talking about are those issued by some financial institutions in the country and not those money lender you see on the we will now proceed on Loan without Collateral in Nigeria

So what is this financial institution?

I know some of you will think I am about to talk about microfinance bank, not really I will not be talking about micro finance bank because those once are not real loan giver in the sense that they do require some sort of collateral. So this financial institution I am talking about is called mortgage banks! and they are the major giver of Loan without Collateral in Nigeria. A mortgage bank is a bank that specializes in originating and/or servicing mortgage loans or let me say it is a federal government licensed banking entity that makes mortgage loans directly to consumers.

So now that you know where to get loan without collateral do you really know of any mortgage bank in Nigeria. For those who don’t, I will be listing some mortgage banks and their respective branches in Nigeria as well as their contacts below;

Resort Savings And Loans Plc

Resort Savings & Loans Plc is duly licensed to carry on mortgage banking business and has operated for over a decade, having commenced business on November 29, 1993, and grown steadily in achievements, acceptability and reputation.they also give out Loan without Collateral in Nigeria.


5th Floor, St Nicholas House

6, Catholic Mission Street,


Tel: 01-462-2081, 01-462-2082



10,Galadima Aminu Way,(Bank Street), Jimeta, Yola, Adamawa.

Tel:234(09)872 3706, 0709 821 2562


72, Secretariat Road, Ado-Ekiti, Ekiti State

Tel:234 808 639 1485

F.C.T., Abuja

Garki Branch

Block B, Murg Shopping Mall, Opposite UTC Market;

1, Awka street, Area 10, Garki, Abuja.

Tel:234(09)872 3706, 0709 821 2562

Jabi Branch

CITEC International Estate,

Mount Pleasant, Mbora district,

Jabi / Airport By-Pass, Jabi, Abuja.

Tel:234(09)290 3124


Boyle Street


12, Boyle Street,Onikan, Lagos. Tel:234(01)774 7937

Oke-Arin Branch


Oke-Arin Shopping Complex, Eyin Eyo,Idumota,Lagos. Tel: +234807-430-4145

Dopemu Branch

1 & 2, Ojuodo Lane,Ifelodun, Aluminium Village,Lagos.

Tel:234(01)462 2081

Ikeja Branch

25, Olowu Street, Ikeja, Lagos. Tel:234(01)736 9694

Lekki Branch

Bakky Plaza

Along Epe-Lekki Expressway, By Osapa London BusStop,Agungi, Lagos.

Tel:234(01)793 7212


Cultural Village

Obasanjo Library Complex,behind NNPC mega station .

Tel: (234)80 3454 1536


VICON House;

80,Stadium Road, Opposite Mr Biggs, Port Harcourt.

Tel:234(08)480 3199


Priscilla Nyame Estate, Garden City;

Mile 6, Jalingo, Taraba State.

Tel:234 703 504 5390


Mutual Alliance Group

Mutual Alliance Group comprises of five (5) distinct companies involved in different aspects of business. The group has a combined capitalization of N500 million with annual profit of N100 million as at December 31, 2005. They are Mutual Alliance Savings & Loans Ltd, Mutual Alliance Property Development Ltd, Mutual Alliance Asset Management Ltd, Mutual Alliance Trading co. Ltd, Mutual Telecommunications Ltd. So since the context of this post is about loan so we will deal with mutual alliance saving & loan Ltd. So see their contacts below;

Abuja Office

Plot 599,

Cadestral B,

Wuye, Abuja Nigeria



Platinium Savings And Loans Limited

Platinum Mortgage Bank Ltd is one of Nigeria’s leading primary Mortgage Institutions. It was incorporated in 1992 with the Corporate Affairs Commission to provide savings, loans and homes ownership services, and licensed by the Central Bank of Nigeria and the Federal Mortgage Bank of Nigeria under the CBN Decree 24 of 1991 and FMBN Decree No. 53 of 1989 respectively to provide Mortgage Banking Services in Nigeria.

Head Quarters

61, Yakubu Gowon Crescent, Asokoro Abuja.

Tel: +234 (0)9-7807206,


Regional Office, Abuja

Plot 118, Aminu Kano Cresecent, Wuse 2, Abuja

Regional Office, Lagos

27/29 Odunlami Street Marina , Lagos

Central Business District Branch, Abuja

FMBN Building, Central Business District, Abuja

Garki District Branch, Abuja

Plot 1500, Ladoke Akintola Boulevard, Garki II, Abuja

Utako District Branch, Abuja

Opposite Zenith, Near Utako International Market Utako, Abuja

Gwarimpa Branch, Abuja

Plot 138, 4th Avenue, Gwarimpa Estate, Abuja

Odunlami Branch, Lagos

27/29 Odunlami Street Marina , Lagos

Badagri Branch, Lagos

Joseph Dosu Way, Badagri Lagos

Makurdi Branch, Benue State

Iyochii Ayo street, Makurdi, Benue State


Haggai Mortgage Bank

Haggai Mortgage Bank Limited whose registered office is at 119, Bode Thomas Street, Surulere, Lagos, Nigeria was established upon the vision received by the General Overseer of the Redeemed Christian Church of God, Pastor E.A Adeboye.

Head Office
Haggai Mortgage Bank Limited
119, Bode Thomas Street
Surulere, Lagos Nigeria
07045994840-4, 07046086758

Branch Office
Haggai Mortgage Bank Limited
Km 46, Lagos Ibadan Express Way
Ogun State
01-2957794-5, 01-2957801
08033225376, 07045994846
07045994849 E-mail:


Safetrust Savings And Loans Limited

The company’s lasting performance over two decades has been its commitment to its mission statement: to be an innovative and efficient Primary Mortgage Bank providing quality mortgage banking services to discerning clientele with a view to satisfying its housing needs and enhancing stakeholders values.

Head Office

18, Keffi Street,
Off Awolowo Road, Lagos
PHONE: 012704863,
FAX: 2704866

Ikeja Office

116, Awolowo Way,
Ikeja, Lagos.
PHONE:07045983248, 07045983250

Agent Banking Office

4th Floor, ITF HOUSE,
Adetokunbo Ademola Crescent,
Wuse 2 Federal Capital Territory,


Federal Mortgage Bank Of Nigeria Abuja

The Federal Mortgage Bank of Nigeria (FMBN) was established in 1956, known then as the Nigerian Building Society (NBS), a joint venture of the Commonwealth Development Corporation and the Federal and Eastern Governments of Nigeria.

And you can get their contacts by visiting this link


and others are

Dala Building Society Limited – Kano

Ministry of Works,Housing & Transport,

Dan Hausa Rd, Nassarawa, Kano




Trinity Savings And Loans Limited

Aso other Savings and Loan Plc..


Procedure To Access Loan

To access loan from any of this mortgage bank in Nigeria, simply walk into the nearest branch to you and as to open an account with them, by so doing you will be asked to provide the following;

2 passport photograph

An opening balance of not less than N1,000

A utility bill (nepa, or water bill)

Mode of Identification (preferable government issued identity card)

Once you have provided the following, the bank will process your request and your account will be available within 24 hours but you cannot get the loan immediately because they will require that you run the account for a period of 60 days and in this course you must save up to 20% of the amount of loan you wish to request for, let’s say for example you wanted a loan of 200,000 naira, then you will have to save up to 40,000 naira or more within the 60 days period to qualify for the loan.

That is why if you require to collect a loan from this bank always make sure you have up to 20% of the total loan you are looking to collect long before the actual day you wish to collect the loan. And again you will be required to pay back the loan within a period of 90 days which is why you should only request for loan that you want to use to run a business you know can give such return in the stipulated period of 90 days.

And also always make sure you have a solid business plan in place to back up your business. And the maximum amount you can request for with this method is 300,000 naira, but if you wish to go for more than this then you will still have to follow same process and also you must have a guarantor who must be able to stand for you with a check of the said amount, this check will be returned once you payback your money if not it will be withdrawn.

An interest rate of 5% without collateral also apply to the loan you collect using this method


That is it, so go and start processing your own loan today


And please do not forget to drop your comment if you find this post helpful or to ask questions, i will be very glad to answer all your questions.




    • Hello mr femi, you are welcome sir and i am glad you appreciate the post, take your time to read other posts on this blog and then you will know this is just a tip of the iceberg, more enlightening post coming soon, so stay tuned.


  1. Oga jimi can one process for loan from another state in a situation where there is no mortgage banks make in one’s area? Thanks

    • Hello Mr Ndu Clement thanks for the comment, in response to your question, I think you can do that so far you have a saving with the said bank and have a minimum of 40,000 in the saving account for a period of 3 can call their customer line or email them to make inquiries. This is the purpose why I provided their contacts, I know there are some states where this mortgage banks are not in.


  2. Nice piece, keep it up! Well detailed and comprehensive, informing the world, even the primary school child will understand it. I have always wondered what this non collateral loan is all about, I have also come across some of thee mortgage bank, but the way their workers relate the information make it seem fake to me. But with this great piece of yours on it, I will venture into it for anybody who want it. Thanks

      • weldone sir,your write up is very sound but I would like to ask a question,,,,,,, what if the person needs a fastrack process in the sense that he or she opens the account and pays the 40k and at the same time needs the loan immediately,,,,,, can it be possible

  3. Olujimi thank you for the guide.
    Pls I tried to contact some of them.
    Fed. mortgage bank is the only one that has office in my city-Benin City.
    They said they do not give loans for business purposes but for building .
    Resort savings and loans said I must appear in their office in P.H.
    It seems I am handicapped.
    Any advice pls?

    • Hello Mr Gideon, thank you for droping a comment, since you are asked to visit their office then you need to, or you search for other mortgage bank in benin, the list I gave is not all the mortgages in nigeria, just a few of them, there are many more you wiill see if you look deep, go online and search for mortgage banks in benin city. Luckily you might find some.


  4. I came across your site through search engine. I am Femi living in Ilesha Osun state, the major problem I have is no bank is ready to give out loan without collateral and even with collateral some will not even give out the loan. And to compound the whole thing if you see any organization that is given out loan to small scale business owner in Nigeria immediately they discover that you are not from Lagos they will not give out loan to the person. Please can you help me out in securing a loan? My company is into building inverter, installations of all kind of security gadgets, solar power, intercom, Vsat, and Computer networking. My office is locate in Ilesha Osun state. Thank you for your positive response to my mail. God bless you

    • Hello Mr Ayodeji Olufemi ayotunde,thank you for visiting my website as well as for commenting. as you can see it doesn’t matter where you are and also it is not any bank that gives out loan without collateral. those that does are the once listed in the post, contact any of them in your city or state, dont forget get a business plan along with you to boost your chance. i cant really help much in this regard except for what i have written in the post, you will need to do this on your own.


  5. Great write up and that of other pages.
    Jimi, you seem like jack of many trade.
    You need to package this site well.
    I dont see you as good information marketer, cos i wonder how you make money being an upcoming IM dude and you dont have a funnel to make upsells and the likes.
    Thumbs up. You are a rear gem though,yet think of monetizing information

    • Hello Angela Akande, thanks for taking the time to comment and i also thank you for appreciating the post, jack of all trade you mean? i don’t think so, my blog is about empowerment and poverty eradication so i go far to get information that will benefit my readers, more so most of this writeup are per request of my readers. mind you i am not an information marketer and if you mean opting lead capture page then you might be wrong because it was on the blog before and i have to remove it after closing down my autoresponder account due too excessive charge by the company, but the lead page will be back there soon. it is there to update my readers. mind you there are premium services and product on the my service and products area of the blog.

  6. Thanks a lot it is helpful but we don’t have such bank in Maiduguri? Am a civil servant it restricted unemployed only thanks

    • Hello Mr Surhyel, thanks for takeing the time to drop a comment on the post and as well as for appreciating the post. You mean to say there is no merchant bank atall in all of maiduguri. I think there should be atleast one. Moreso its not for unemployed, anybody can get it so far they meet the requirement.


  7. I live in Lagos and I worked as security guard under halogen security company,so I am receiving 30000naira as salary per month with their client called first bank of big so I want to establish a little saloon business at ikorodun and I need a good loan of 200000naira without collerateral,pls sir I need ur advice and the nearest mortgage bank to me at ikorodun or ikeja

    • Hello Mr Oladunjoye, thanks for taking the time to leave a comment, in response to your question. You can contact any of the mortgage and ask if they have a branch in ikorodu and it doesn’t have to be in ikorodu alone, all this mortgages have branches in lagos, if none in ikorodu then try other part of lagos.


  8. Okay sir so am planning to register with 21000naira in wish I will be deposited my monthly salaries of 30000naira every month,pls sir if I open on Monday 23nov 2015,can I get 200000naira loan by January latest 21 next year,and how start my barbing saloon business or 300000naira loan.thanks sir,

    • Hello Mr Oladunjoye, thanks for the comment, that is a good step to take. Like I said on the post you have to be active for 3 months before you can be qualified for any loan, so it has to be 40,000 or above after 3 months before you are qualified to get the loan.


  9. It seems people aren’t noting the fact that you have to pay up in six months, cos I sense many here aren’t taking that into cognizance.

    • Hello Mr George, thank you for taking the time to leave a comment on the blogpost. if i understand you well you mean to say client have to pay up to 6 month, if so then i will say you are wrong. they have a 1 month ewarehousing of your product for 1,000 naira, 3 months for 2500 naira and 6 months for 4500 naira. if you dont pay for warehousing then they will not be able to help you keep your product so they can pick anytime you request they ship, it means you will have to take your product to them yourself anytime you have order which is not advisable. so their plan is good as far as i am concernd

  10. Great Job, can this mortgage bank lend money to a current asset business like, buying and selling of goods, setting up a service shop etc????…because the word mortgage implies financing of a fixed asset project like building of house and constructions.

    • Hello Mr lekan, thanks for taking the time to leave a comment on the blog, of course they will, a lot of people have gotten their via them, more so this is light loans with interest and not heavy loans so they will.


  11. Hi my name is maxwell pls can’t you get a bus for me(toyota hiace) on higher purchase for me that is the line i like to venture into

    • Hello Mr Maxwell, thanks for taking the time leave a comment on the blog. if i understand you better, you want me to buy a bus for you. am sorry i shared information on this blog and this post is about how you could get loans from bank and not about me giving out loan.i do hope you will read the post over again.




    • Hello Mr Farouk, thanks for taking the time to leave a comment on the blog, you can find merchants bank in kaduna with the use of google, you can just type (merchant bank address in Abuja or merchant banks in Abuja)


  13. Thank you for this post. do you have a post on similar topic but not involving this type of bank you mentioned? the reason am asking is because the line of business am into requires at least 6 months to generate returns and it doesnt meet their requirement. thank you

    • Hello Mr Samuel, thanks for the quick response, actually this is the only reliable source i know which require no much stress if you follow instruction, so this is what i mean sir. and by the way 6 months is a long time to refund a loan of such amount, the reason you are getting the loan is because they believe you have a solid and realistic business plan you are working with.but they seldom ask about it rather make it a time trigger. but may i know the business you intend using the loan for if you dont mind.


    • Hello Mr David Ngwoke. thanks for taking the time to leave a comment on the post, please be informed that we have written on this and you can read it on the post above. its sure if you follow the instruction.


  14. Hello Mr Olujimi
    My question is,is this 20% refundable after paying out the loan and the interest attached to it after the 90 days ultimatum.

    • Hello Mr Moshood Ariyo, Thanks for the comment. off course the 20% is your money to begin with, they are not holding onto it, you can withdraw your money anytime you feel like so far you have paid back the loan and commission.


  15. A million thanks 2 u bro. This is first class info than only a very special few will disseminate for free even 2 their acclaimed loved ones. U r indeed very special I really look forward 2 a time when we will have people like u in authority. U have a lion’s heart ma bro. Thanks 4 ur very useful info.

  16. Hello mr Jimi,
    I need an investor in my small runing bakery that need urgent expansion in sango ota ijoko area in ogun state close to lagos, to meet up with my customer demand. can you advice the bakery is functioning and operating it is open for inspection and meet our customers for clearity, I just need some investor that can buy materials for me, like flour sugar.e.t.c, and the investor will get his/her capital and profit within a week, he/she will alow to monitor the production with us . looking to hear from you

    • Hello mr oluwaseyi ige, thanks for taking the time to leave a comment on the blog, but as regard your comment i dont think i have much help for you other that what has been written as a post above.


  17. Thanks for the information, i personally Appreciate it, i will ensure to open an account with atleast two of these banks… I regularly need loan to finance my clients request, am into travel and tours and Companies and MD usually ask me to book travel package for them to be paid for later.. with this assistance, i can success take on these task..

  18. Thanks mr Metilelu.. im a corper currently serving in Abeokuta south, ogun state. Being a lawyer, im serving in a Law firm and im paid well in addition to the FG monthly allowance for corps members. Plus i also run a photography business in lagos and hope to have it in ogun state soon. However im in need of about 200,000 to urgently handle somethings as i cannot begin to save for months out of my income until i get the money cos of its urgency. I’ve approached banks and some individuals with the promise to pay back ofcourse over time as we’ll agree, but they all decline me loan. Any idea please?

    • Hello Oladimeji, thanks for the comment, you have approached banks you say but you did not approach the right bank , banks dont just give out loan, you have to go to the right bank as stated on the post and save a bit with them.


  19. What I want to ask is that must you hav an account with any of the listed bank before you apply for the loan or its as far as you hav account with any bank in Nigeria?

    • Hello Aduojo, thanks for the comment, ofcourse you must have an account with them, i stated this on the post that you will maintain a saving with them for 3 months, you cant get emmergency loan from them.


    • Hello Joshua, thanks for the comment. like i said on the post you will need to maintain a saving account for at least 3 months with not less than 40,000 naira before you can qualify to get the loan.


  20. Sir,is it mandatory to wait for 60days before you get loan?even do your have saved up to 20% of the loan you want to request for?

    • Hello Godwin Abidemi, thank you for taking the time to leave a comment on the blog post, according to them they have to be sure you intend to bank with them and not just to use them and dump them, so that is why they require you to save for at least 3 months before you can qualify to get the loan.


  21. Sir,i need immediate loan,i can’t wait for 60days to maintain or run account,i need the money urgent,i have a car worth #1.5m,and i need #500,000.can you connect me with some one who can help me? By taking the car&loan me the cash?cos i know ur mortage banks don’t do that,or do they do that?thanks

    • Hello Daramola, thanks for taking the time to leave a comment on the post. please i have written about how to get a loan without collateral on the post and i also stated the requirement. i dont know of anyone that can supply you loan aside what is written on the post above.


  22. Thanks for the info bro,but would love to ask if any of the banks will be willing to give out loan to a online forex trader, because that’s my profession and intend to invest more in it for bigger profits..

    • Hello julius, thanks for taking the time to comment. Like I said on the post, so far you maintain an acc with the above listed banks you will get.

      But never tell business you are a forex trader. Nobody will give money to a forex trader


    • Hi Julius,there re global investors who lend out money without collateral for online business without collateral if you provide means of identity and other few supporting document.

      • @egi I know you are trying to promote your business here but for you to be able to do that successfully you must provide me evidence and fact that they really do and hope its not those mlm like helpinghands you are trying to recruit to


  23. This process is not really easy at all, i have search all the internet for the past 24hours and it very difficult, getting a good source of loan is something else in Nigeria. i have manage to find a blog that help me. i wonder why informationhood didn’t list you people on their trust worthy source of loan.

    please hope you people are not just going to waste someone registration money and also someone time?

    • @gift its likely you never read the blogpost well, because I see no relationship between your comment and the post. And if you are looking for traffic you are at the wrong place because my readers are protected no information show here unless I comfirm its geniunety and the source critically.


  24. @olujimi,weldone.My Names Are Olufemi Adefehinti V.I Am A School Owner With A Comtemporary And Intimidating Ideas In Education.My School Is More Or Less To Technical Or Vocational Institutions.Located In Ogun State,sango Ota To Be Precised.We Have Builts Moving Car,hotplate,a Solar Generated House,powerbank Among OThers.But We Are In A Rented Apartment And This Will Be The Fourth Building.We Rent An Uncompleted Building,finished It To A Taste Within A Short Period The Owner Chased Us Out Of The Building.The Fourth Place We Are,we’ve Finished It The Owner Is Telling Me That We Need To Renegotiates.Whenever This Problem Occurs I’m Always@ The Losing Side…U Understand?I Need Help To Get A 2plots Of Land In The Area That I Can Pay InStalmentally.Olujimi Plz,i’ve Done Everything Nothing Comes Out.I Need Ur Positive Response At The Soonest Time.Call Me-08092281600,07063541314

    • @adefehinti, please read the post over again. i never said anywhere on the post that i give out loan so i dont think i am in a position to do so to you. apart from the above the only sure way is cooperative which most people already know.


  25. I need a loan to starting a business center business in my area, what is the process of obtaining the loan, am from abuja

  26. Pls sir I need a loan of 150k frm nw til 10th of dis month and am a staff of Ikeja electric previously phcn and my salary is up to 60k but I d need money to start small biz which will fetch me profit in 3month and I belief I will pay bak with intrest. but since I don’t have an account wit them or is itbpossible for them to give me. Itz urgent Becuz d stuff will stop givin d machin for d biz till next yr. Tanks sir

  27. I love ur write up but I want to ask where I can get this mortgage bank in alimosho area in lagos. am into buying of maruwa and giving it out in higher purchase

    • @biola thanks for the comment, i am not sure of that but i thin k there was someone needing a capital for a bakery business on one of the comment. check through the comment when you see it give me the name so i can provide you contact details.


  28. Hi,
    I am a young man with several mind blowing business ideas. I have developed a software for an online trading business which has a high profit margin. Please is there anyone here that can grant me loan to start my online trading. I will repay back within three (3) months. If need be, I can come and do a little presentation to let you know of my trading business, repayment plans (and also my own compensation plan to be paid to the lender). I said my own “compensation plan” because I will also offer you a compensation plan for making my dream come true.

    Thanks and kind regards,

  29. thanks for your info. From your info u said u have to pay back in 90day thats 3month is there any way i can get the one that will want a payback within 1and 6month?

  30. Enter Your Comment…I just Open a current account today with #10000 at Platinum Mortgage Bank Umuahia Branch and am looking for #200000 but my problem is that I cannot meet up the 3 months deadline for the repayment of the Loan because of where my shop is located, although the bank has not said any thing yet but am afraid what you said will not be different from what they say. I need your advice.

  31. A million thanks Mr. olujimi, l really appreciate your noble and patriotic inputs geared towards empowering others. May God bless you abundantly. Pls keep the tempo…

  32. Good Evening Sir, please i need help for a loan of 250k which would be paid back within a period of 3months time. Please sir which mortgage bank can you real refer me to

  33. I live in Jos plateau state can you please refer me to any mortgage bank here j can get a loan to invest in farming and repay in 3months ?

  34. Ur indeed a great man. Yes being rich doesn’t limit to enjoying ur wealth but spreading out the news to people who have visions of abundance looking out for help. May God bless you abundantly.

  35. Thank you so much for your mind blowing topic, it is an a stepping stone to some people espacially me, but my problem is those banks are not at my state Enugu state, please help me

  36. Please,do you have the address in Abuja for trinity savings and loan limited? Thanks for this information. Was almost giving up hope.

  37. Pls am a student and I need an urgent loan of up to 500k to to pay my school fees and start a quick business how do I go about it

  38. Thanks very much your post is well understood.
    PLEASE I need a loan but for personal use and I have a collateral wchich bank can give me the loan. With short processing time and long repayment tenor.
    Thank you

  39. Hi, I want to start a business which will cost me aproximaatly 700 000 but I don’t have such money and I really need to start the business. Wish to know if there companies or persons who can partner with me at 50 50%. Or the can suggest their own modus.
    Thanks and hope to get your advice towards these.

  40. Please I need an urgent loan, I worked in Shoprite jabi lake mall Abuja. But presently in Benue state, came for Xmas celebration. Going back to Abuja very soon, but I’m seriously in need of a loan….how will I goes about it please

  41. Hello sir according to your write up you said after all the necessary requirements you said the loan repayment is 90 days

  42. Enter Your Comment…l want to get a loan of #200,000 what is the interest rate and the installment payment will be for 12 months.

  43. Thanks so much for the information you gave, God bless you real good.

    Pls I want to know this Mortgage banks will they accept to give loan to someone without a shop. I’ve tried one before thou I don’t know if they’re mortgage banks, they said i must have a shop with Goods inside it 1st b/4 they give me loan, that their loan is to help me boost my business and not to start a new one. Pls reply. Thanks.
    I do my biz from my house.

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