How to get loans in Nigeria without collateral( Get Up to 1.5 Million Naira)

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How to get loans in Nigeria without collateral is one topic thousands of Nigerians have always wanted to read about including yourself, interested people range from small business owners, to big businesses to students. It seems just about everyone in naija wants to learn how to do this. I might be stating a known fact because I have gotten more queries about this topic than any other topic aside how to start a blog and make money  and how to start a dropshipping business with A shopify store,maybe because of the high rate of unemployment in the country, corruption, the youths waking up with “be your own boss virus on their mind” or for some other reasons.

So let’s get down to business. The loans I will be talking about today are those issued by some financial institutions in the country and not “the usual money lender” you see out on the we will now proceed on Loan without Collateral in Nigeria.

So what is this financial institution?

I know majority of people would think of micro finance banks when they hear loan….but you wrong!

In fact this article is not even written to talk about them, why? Because are not real loan givers in the sense that they do require some sort of collateral before they release their money to you. So the financial institution I will be focusing on is called mortgage banks! And they are the major giver of loans in Nigeria without collateral .

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It gets interesting:

Do you know that a mortgage bank is a bank that specializes in originating and/or servicing mortgage loans? In simple terms (layman’s language), it is a federal government licensed banking entity that makes mortgage loans directly to consumers.

Now that you know what a mortgage bank is, lets proceed to learn of the bodies that can provide you a loan without collateral.

Have you stumbled upon any Nigerian bank? Do you really know of any mortgage bank in Nigeria? Has a friend recommended any to you?. For those who don’t, I will be listing some mortgage banks and their respective branches in Nigeria as well as their contacts below:

How to get loans in Nigeria without collateral

How to get loans in Nigeria without collateral

Resort Savings and Loans Plc.

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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

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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:

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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 with the name “Nigerian Building Society (NBS)”, a joint venture of the Commonwealth Development Corporation and the Federal and Eastern Governments of Nigeria. It was later that it was re-named “The Federal Mortgage Bank of Nigeria (FMBN)”

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

 How to get loans in Nigeria without collateral

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. It will be required that you spend at least 90 days with them before you apply for a loan

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 400,000 naira, then you will have to save up t 80,000 naira or more within the 60 days period to qualify for the loan.

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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.



Please note: for loans of 300K( 300,000 ) and below; no guarantor is needed but for 300K and above; you will need to bring a guarantor.

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