With the increase in technology comes growth in the business sector and the demand for loans by individuals. Various loans are available for individuals and corporate bodies.

The federal government owns some, while private individuals own others, but they are all being overseen and given licenses to operate by the central bank of Nigeria.

In this article, we will list the seven best loan platforms that offer loans to Nigerians even though they are unemployed. We will discuss some of the requirements of these loan platforms, and finally, we will answer some of the most frequently asked questions. Read on.

7 Best Loans For the Unemployed In Nigeria

There are several loan platforms for the unemployed in Nigeria, and we will list some of the most important loan platforms in Nigeria for unemployed citizens.

Some of the loans are;

  • Branch Loan
  • Fair money Loan
  • Carbon Loan
  • PalmCredit Loan
  • QuickCheck Loan
  • Baobab Loan
  • CarrotPay Loan

Branch Loan

This is one of the best loans for unemployed people in Nigeria, the loan application and approval process is very easy, and with a click, you can easily access your loan. All that is required of you to do is to download the applications from your Google play store or your iOS store.

After installing the app, open and fill in all the required details, click on register and then proceed to apply for a loan. If your loan application process is successful, within a few minutes, your loan application will be approved, and you will be credited.

Fair Money Loan

One of the benefits of this loan platform, aside from the fact you can apply for it even if you are unemployed, is that with this loan, you can get access to different loan amounts without any collateral. If you are looking for a quick loan app that can give you loans fast, this is a perfect choice.

Carbon Loan

Carbon is one of the most popular loan apps, it was formally called pay later loan, and it is widely known for being one of the best loan platforms you can easily apply for and get approved irrespective of the fact you are unemployed.

All you need to do is to download the application from your Google play store, afterward install the app on your phone, open and input all the necessary details, then proceed to apply for the loan. If approved, within a few minutes, your loan will be credited to you.

Palmcredit Loan

Palm Credit is known to give loans to unemployed people in Nigeria. In addition, you can equally use it for other bank transactions, such as payment of bills and transfers from one account to the other.

This app does not consider your employment status, and you have to be up to 18 years and above to be able to apply for a loan using this platform.

To apply for a loan, all you need to do is to download the app from the Google play store, install it, open and follow the instructions. Upon successful approval, your loan will be credited to your standard bank account in minutes.

Quick check

Just like every other loan platform that has been listed above, a quick check is one of the loan platforms that allow you to apply for a loan easily without considering your employment status.

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With the quick check loan app, you can apply for a loan as low as #1,500 and as high as 100,000, but you must note that the amount of loan you are eligible to apply for largely depends on your credit score. The loan application, when approved, is usually credited to your account in a matter of minutes.

Baobab Loan

Baobab loan is one of the loans that offer individual loans with a repayment plan of up to 24 months, a very low-interest rate, and the approval and disbursement of your funds to your account is usually done within 72 hours. With this loan platform, you can access loans as high as #5,000,000, depending on your qualification.

With baobab, you can get the following;

  • Disbursement within 72 hours
  • N20,000 to 50 MILLION
  • Repayable in 1 to 24 months
  • Minimum administrative procedure.

The minimum loan you can borrow from this platform is 20,000, and the maximum amount you can borrow from this platform is 50,000,000, but this depends on your creditworthiness.

This loan platform does not only offer loans to unemployed people in the country, but businesses and corporate bodies can obtain loans from this platform.

CarrotPay Loan

This is one of the best loan platforms out there, and this loan platform is perfect for your needs; with the CarrotPay Loan app, you don’t need to worry about your employment status, and you wouldn’t have to worry about going through a cumbersome process before you can access a loan from the platform.

You can obtain a loan of as much as N50,000 with a repayment plan over six months. They are equally well known for having low-interest rates and flexible repayment options that make it easy for borrowers.

To apply for a loan on this platform, all you need to do is to download the app from the Google play store, after which you will install the app and follow the instructions as given. Upon approval, your loan will be credited to your account in minutes.

Frequently Asked Questions

Can an unemployed person get a loan in Nigeria?

The answer is yes. The above loan platform can grant loans to unemployed citizens, and these platforms also offer personal loans to individuals. Personal loans are the most straightforward; you borrow a set amount of money and then pay it back over some time.

How to get a loan if you are unemployed?

The first thing you need to do is to go through this and choose any loan platform of your choice, download it on Google, and apply for a loan. The loans, as mentioned earlier, do not require the need for employment status or collateral. All you need to do is make sure you have a very high credit score, and with that, you are eligible for a loan application even if you are unemployed.

Which app gives out loans faster?

There are many loan platforms, but the one well-known to give out loans faster is the palm credit loan. Palm Credit instant loan app is, by all accounts, the quickest loan app in Nigeria, offering loan payouts of up to 100,000 NGN in under 3 minutes.

Palm Credit loan repayment terms range from 4–26 weeks, with interest rates ranging from 5–28% at an annualized rate of between 24.5–56%

Can I get a loan if I have no income?

If I don’t have a job, can I still get a loan? Yes. Many personal loan lenders are willing to consider other sources of income. If you don’t have income, you may be able to qualify for a loan based on your assets.


You can start up a business with any of these mentioned loans. Do not fold your hands or engage in criminal activities, even as an unemployed person.

We encourage you to apply for any of these loan apps and kick-start something profitable.

Feel free to share your thoughts and ask questions in the comment section below.