Loans for Unemployed in Nigeria 2023-2024

Loans for Unemployed in Nigeria: Finding a loan when you’re unemployed in Nigeria may seem like a tough hill to climb.

Traditional lenders usually want to see a stable income before they even talk to you.

But don’t lose hope; there are ways to get financial help even if you’re currently not working.

In today’s blog post, we’re diving into the various loan options you have, even if you’re jobless right now.

We’ll chat about microfinance banks and online loan platforms specifically tailored for people like you.

They don’t usually ask for the usual stuff like proof of income or collateral.

Sure, there are a few drawbacks, but hey, it’s a viable option for getting that much-needed loan without a job.

So, if this sounds like something you’re interested in, stick around as we dive into the details. Let’s get into it!

Loans for Unemployed in Nigeria 2023-2024

See the Federal Government Loans for Small Businesses in Nigeria

Types of Loans for the Unemployed in Nigeria

Alright, let’s kick things off by understanding what types of loans are actually out there for unemployed people in Nigeria.

Whether it’s collateral-free loans, soft loans, or micro-credit plans, each comes with its own set of perks.

For example, while getting a collateral-free loan might be a breeze, you’ll probably find better interest rates with micro-credit schemes.

So before jumping into any loan, make sure to weigh the good and bad based on your own financial situation.

Now that we’ve got that sorted, let’s move on to talk about the platforms that specifically offer loans for those without a job in Nigeria.

Lenders that Give Loans for Unemployed in Nigeria 2023-2024

  1. Carbon
  2. Fairmoney
  3. Renmoney
  4. Branch
  5. Umba


Carbon stands out as a go-to loan app in Nigeria, catering not just to working people but also to the unemployed and even students.

The best part? You don’t need to go through the hassle of submitting tons of paperwork to get a loan.

The app offers a pretty wide range of personal loans, starting as low as 1,500 Naira and going all the way up to a whopping 1 million Naira.

What sets Carbon apart is its incredibly low-interest rates. Plus, you’ve got the flexibility to choose a repayment period that suits you, ranging from just a month to a more extended 6-month plan.

And don’t worry, they’re not going to disturb you with constant calls reminding you about your loan repayment.

So if you’re in need of quick and stress free financial assistance, Carbon is definitely worth checking out.

See more information on Carbon Loan App


Fairmoney also emerges as one of the platforms that give loans for unemployed in Nigeria.

Fairmoney is yet another hot pick in the Nigerian loan app scene, especially for those without a job.

Simply download the Fairmoney app, sign up, and you could be eligible for personal loans of up to 1 million Naira at super low interest rates.

What makes Fairmoney stand out is the repayment flexibility.

You’ve got up to 18 months to pay back your loan, and if that’s not enough, they even offer the option to extend your repayment period if you can’t make the due date.

So if you’re on the search for a loan app with some breathing room in terms of repayment, Fairmoney should be on your list.


This list won’t be completed if I don’t include Renmoney as one of the lenders that offer loans for unemployed in Nigeria.

They have over half a million downloads and a lot of positive reviews, Renmoney is a trusted platform where you can get a quick loan in Nigeria, no paperwork needed.

This online lending app offers collateral-free loans that can go up to millions of Naira, and they won’t pester you with frequent calls or messages.

It is available on both Android and iPhone, Renmoney offers pretty reasonable interest rates that range between 2.4% and 9.33%.

And you’ve got the luxury to pay it back over an extended period, with loan terms lasting up to 24 months.

If you’re looking for a reliable and user-friendly loan option, Renmoney is definitely worth considering.


Looking for a speedy loan in Nigeria and don’t have income proof?

Branch has got you covered.

With their app, you could see money in your account within minutes of applying, no need to wait around for hours.

The interest rates on Branch loans are super low, and they offer a decently long repayment period. But that’s not all, this app isn’t just for loans.

You can also manage other financial tasks like transferring money, paying bills, and even buying airtime.

So if you’re after a quick, low-interest loan and more, the Branch app is a solid choice.


Umba is the last in our list of lending platforms that give loans for unemployed in Nigeria.

Umba is a standout when it comes to quick loan apps in Nigeria, serving both the employed and the unemployed.

What sets them apart are their excellent loan terms: think no late fees, no rollover charges, and no origination fees.

Getting a loan is very easy, just link your bank account for a quick credit assessment, and you could bag an instant loan of up to 30,000 Naira.

They offer a pretty decent interest rate around 10%, and you’ve got up to 62 days to pay it back. Plus, their repayment methods are super flexible, making it easy for you to settle your loan.

If you’re looking for a loan app with solid terms and stress-free repayment, you might want to give Umba a try.

Now, let’s discuss the tips to increase your loan approval rate as an unemployed.

Read on 500K Loan in Nigeria Without Collateral

How to Improve Your Chances of Getting a Loan When Unemployed

Improving your odds of getting a loan while unemployed in Nigeria isn’t as tough as you might think.

Taking small steps like clearly stating why you need the loan, showing some form of regular income, or even signing up for skill-building programs can make a world of difference.

At the end of the day, what lenders want to see is your ability to pay back the loan, so anything that reassures them on that front will work in your favor.

Loans for Unemployed in Nigeria

Check out the Instant 50,000 Naira Loan in Nigeria

FAQs on Loans for Unemployed in Nigeria

What types of loans can jobless people get in Nigeria?

If you’re out of work in Nigeria, you could still qualify for personal loans, microloans, or even emergency loans from certain financial institutions or NGOs.

What do I need to get a loan if I’m not working in Nigeria?

Well, the requirements can differ depending on who’s lending you the money.

But usually, you’ll need some form of ID. Some lenders might also ask for your bank details like your BVN or account number.

How can I up my game in getting a loan while unemployed?

Boosting your credit score can help, and so can putting up some collateral. Having someone to vouch for you, like a guarantor, can also be a big help.

Is it possible to get a loan without putting anything down when I’m not working?

Yes, some lenders offer loans with no collateral needed, also known as unsecured loans. Just keep in mind that the interest rates might be a bit steeper.

How long will it take to get my hands on a loan if I don’t have a job?

The wait time can be as short as a few minutes or as long as a few days, depending on the lender and what kind of loan you’re going for.

Any strings attached on how I can use the loan money?

Generally, you’re supposed to use the loan for personal stuff like fixing up your house, settling medical bills, or covering educational costs.

But the specific rules can vary depending on your lender.

Here is the List of Fake Loan Apps in Nigeria

Wrapping Up Loans for Unemployed in Nigeria

Alright, let wrap it up on loans for jobless people in Nigeria! We’ve covered quite a bit, from the types of loans available for unemployed individuals in Nigeria to how you can increase your chances of securing one.

Each lending platform has its own requirements, so it’s important to weigh your options carefully.

Remember, being unemployed doesn’t rule you out from getting financial assistance.

Just be sure to read the terms carefully and plan for repayment to make the experience as smooth as possible.

If you found this post helpful, don’t forget to share it and keep an eye out for more useful tips on our blog!

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