10 Best Soft Loans In Nigeria

Soft loans are one of the quickest and best ways to get loans in Nigeria. The traditional way of getting requires lots of documentation, paperwork and could require some collateral.

However, soft loans require little or no paperwork, applications are approved within some hours. A lot of individuals are interested in getting soft loans from financial organizations. In the same way, you can borrow soft loans to use for educational, personal and business purposes.

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Soft loans are loans whose application and disbursement is done online. Many financial institutions offer internet banking service for clients to perform financial transactions conveniently. You can borrow loans online from these institutions and get them in your account in hours.

How and Where to Get a Soft Loan In Nigeria

Unlike the conventional way of getting loans from banks, you’ve to wait for several weeks for your loan application to get approved or declined.

This post will show you the top 10 soft loan providers in Nigeria. Some of these loan providers send your loan to your bank account within 30 minutes after application.


Branch is a multinational financial institution that provides soft loans without collateral. Presently, their services are open to people in Nigerian, Kenya, Tanzania, United States, India and Mexico.

They have a mobile app that you can use to borrow loans whenever you want without paperwork and collateral. Simply proceed to download the app, provide your BVN and apply for a loan. Their loan amounts vary from N1,000 to N200,000.

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Lydia is an online company that allows individuals and businesses to gain access to finance, loan and credit facilities. They use machine learning technology to access your loan request before accepting your application. You can get loans within $500 to $15,000 from Lydia.

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This financial institution provides you with a loan to meet the demands of your financial challenges. The first step to get their loan is to provide your BVN details, this is the benchmark that will be used to review and evaluate your loan application.

Their daily interest rate for their loans is at 0.5% while the monthly interest rate is about 15%.


As a new customer or first-time applicant, you can get quick online loans within N40,000 to N750,000 from C24 while existing customers get up to N1 million.

You can get soft loans from them, however, the loans are disbursed to you if you meet their requirements.


Formerly known as Paylater, Carbon provides you with loans to solve financial problems. If you are looking for quick loan loans providers to get loans from, Carbon will be a good place to get it.

You are allowed up to N500,000 from this loan company without any form of collateral. If your application is approved, your loan will be sent to your account within a period of 1 to 3 days.


KiaKia is an online loan organization that gives out loans to individuals as well as businesses. The company remains a favourite among Nigerians due to its fast and quick way of providing loans.

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To check and apply for the KiaKia loan, simply visit www.kiakia.co.


Specta provides loans for different purposes including wedding, events, personal projects, education, rent, medicals and even for business use. As a soft loan provider, they allow you to gain access to funding without stress.

You can get as much as N5,000,000 from them, simply visit their website www.myspecta.com to apply. They do not have a fixed interest rate, but their interest rate varies from 20% to 30% per annum.


One-Fi, formerly known as One Credit, is one of the best soft loan providers in Nigeria. They give out loans to credit-worthy individuals and businesses. If you are short of cash, you can consider getting their loans.

You can get as much as N200,000 when you apply at their website. The repayment period is within 3 to 6 months after collecting the loan.


Zedvance Ltd is a consumer financial institution which is renowned for providing finance to individuals. Specifically, they provide loans to employees, staffs of companies and salary earners.

However, if you have are an employee of a company and have a side business, you can still get their loans. You can get as much as N3,000,000 from Zedvance within 24 hours after your application.

Do you want to get a soft loan? if yes, you can consider any of the loan providers mentioned in this post. Most importantly, we advise you to pick the loans you will be able to pay before submitting your application.

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