Loans Without ATM Card

How to get A Loan without ATM Card

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Loans without an ATM card

In Nigeria, it is very much possible to obtain a loan without an ATM.  We all had been in a situation where our ATM had expired and we needed a loan to sort out some problem. We eventually found a way to get a short-term loan. Don’t worry or stress yourself much because some ways and platforms issue out loans without an ATM card 

Loan without ATM

Apart from ATM cards, there are also other requirements for obtaining a loan that you have to meet. Each of the lending platforms has its criteria. 

Traditional banks make it mandatory that before you apply for a personal loan you must have an ATM card or a checking account with them.

Don’t get disturbed, because there are alternative online lenders that can offer loans without an ATM.

The only thing that online lenders look at before giving you a loan is your credit score, employment status, and income as this will determine if you are eligible for a loan or not.

If your ATM is expired, lost, or you don’t have it, you can get a loan as long as you show them that you can repay the loan through other means.

However, before you proceed with your loan application, we advise you to carry out detailed research on different lenders, compare them, their interest rates, how flexible their repayment schedule is, and their overall performance. Once you can do this you will find the perfect one that meets your needs.

How to Get a Loan without an ATM 

To get a loan without an ATM, you have to follow all the steps we listed Below.  Also, know that having an ATM card is very important because it’s not just for loans but also it will help you in carrying out your financial transactions seamlessly.  But if unfortunately, you lost your ATM you may still access some quick loans from digital online lenders.  Follow these steps to successfully apply for a loan without an ATM.

    • Research For Best Lending Platforms:  Before proceeding with your loan, make proper research on different loan platforms to determine the one that best suits your needs. You must carefully look at their interest rate, how flexible their repayment schedule is, and their general Performance. It might interest you to read customers’ reviews about the loan company as it will also guide you to make an informed decision. 
  • Download and launch the loan App: once you choose the loan platform that you want to use. Go to the Google play store or apple store to download the app and sign up for an account.
  • Verify your account: in most of the Apps you want to be able to borrow money without verifying your account. You need an official identification card such as a voter’s card, driver’s license, and international passport.
    • Check Eligibility Criteria: After account verification, you have to also check the eligibility criteria. Some lenders will d emand you submit your employment status, proof of income, and account statement. They also check your credit score to ensure that you are eligible for the loan.
  • Submit your Application: it is time to submit your application for the loan. Fill out the loan application form from your app. Input all the details required correctly, carefully read the terms and conditions guiding the loan before submitting the loan application.
    • Wait For Approval: Loan apps are faster in disbursing loans to clients than the traditional banks which may require a rigorous process to release a loan. Some platforms release their loan very fast while others will take a little longer. But generally, your loan will be released within 24 hours of application except if your loan was not approved.
  • Getting your loan without an ATM: Generally, Your loan will be sent directly to the bank account you linked to your loan app. You must use an active bank account so that you won’t make extra problems for yourself.
  • Loan Repayment schedule: Some lending platforms offering loans without an ATM have a Flexible repayment schedule plan. At most short-term loans are meant to last for over 90 days. So your repayment schedule is usually from 4 weeks to 12 weeks depending on the amount of money you borrow. Note that the longer your repayment schedule the higher the interest rate.
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Top 8 Loan without ATM card apps for you 

As a finance expert, it is important to note that obtaining loans without an Automated Teller Machine (ATM) card is now a reality in Nigeria. Users can now access loans through various loan apps that offer loans without an ATM. Here are the top 8 loan apps that offer this option:

  1. Carbon: Formerly known as Paylater, Carbon is one of the most popular loan apps in Nigeria. It offers loans without an ATM and has a user-friendly interface.
  1. FairMoney: FairMoney is another popular loan app that offers loans without an ATM. With little or no paperwork involved, you can access loans ranging from ₦1,500 to ₦500,000 instantly.
  1. Palmcredit: Palm Credit offers instant loans without an ATM and doesn’t require collateral or a guarantor. Users can also access higher loan amounts with improved credit scores.
  1. Kiakia: Kiakia offers loans without an ATM, and the application process is fast. Loans can be obtained within 3 minutes of application approval.
  1. Renmoney: Renmoney is a fast and reliable loan app that offers loans without an ATM. With Renmoney, you can access loans ranging from ₦50,000 to ₦4 million.
  1. Quickcheck: Quickcheck is a leading mobile lending platform that offers loans without an ATM. Quickcheck’s loans are fast and easy to obtain, with no collateral or guarantor required.
  1. Aella Credit: With Aella Credit, you can obtain loans without an ATM in minutes using your mobile device. Loans are disbursed directly into your bank account.
  1. Branch: The branch offers easy access to loans without an ATM. Loans are approved within minutes and disbursed directly into your bank account.
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Benefits of Getting a loan without an ATM card 

Securing a loan in Nigeria can be a daunting task, especially when you don’t have an ATM card to show as collateral. However, there are a few benefits to applying for a loan without an ATM card. In this article, we’ll explore the benefits of getting a loan without an ATM in Nigeria.

  1. Flexibility in loan repayment:

Getting a loan without an ATM card can offer you the flexibility of setting up a repayment plan that best suits your financial situation. Lenders who offer loans without ATM cards tend to be more flexible and considerate, allowing borrowers to repay the loan without pressure.

  1. Convenient Loan Application Process:

Applying for a loan without an ATM card is much easier and more convenient than going to a traditional bank. Typically, you can easily apply for a loan online through a lender’s website or mobile app. The process is faster, and you can complete the loan application within a few minutes.

  1. Access to Loan with No Collateral:
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One of the most significant benefits of getting a loan without an ATM card is that you do not need to provide collateral. Most loan providers in Nigeria require borrowers to provide physical collateral as a guarantee for the loan. However, getting a loan without an ATM card can allow access to funds without collateral, making it an ideal option for those who do not have assets to pledge.

  1. Competitive Interest Rates:

Interest rates on loans without ATM cards are often competitive and can be lower than typical bank loans. With a lower interest rate, you can save money on interest payments over the term of the loan.

  1. Faster Loan Approval:

Getting a loan without an ATM card can expedite the loan approval process. Unlike traditional bank loans that can take days to get approval, loans without ATM cards can be approved in a matter of hours.

FAQs on loans without ATM 

Do I need collateral to borrow without an ATM card? 

Most platforms offering no ATM loans are digital lenders who carry out their business through their app or Website. You don’t need collateral to access a loan without an ATM card. 

How long will It take for me to get my loan without an ATM card? 

It depends on the loan platform you are borrowing from and the amount of money you want to borrow. Generally, most loan platforms release loans to your account minutes after loan approval.

Where will they send my loan without an ATM card?

After signing up with the loan company, you are expected to link your active bank account with the app. Any account you linked to the app will receive your loan.

What if I don’t pay up my loan without an ATM card?  

If you don’t pay up your loan as agreed, the loan app has the right to prosecute you legally to recover their funds. It will also affect your credit score.

What documents do I need to access a loan without an ATM?

Most times you are required to provide your BVN, valid identification means, employment status, proof of funds, and good credit score.


Getting a loan without an ATM card can be an excellent option for borrowers who need access to funds but do not have an ATM card to show as collateral. With flexibility, convenience, and competitive interest rates, this type of loan can help you meet your financial needs with ease.


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