How to Get Loan from Zenith Bank Without Collateral in 2024


Does Zenith give loan without collateral?

Collateral is a valuable stand-in that you submit at a bank when you need to obtain a loan. Now, does Zenith give loans without collateral? Yes, it does! and in this post you’re going to see how you can get a loan from Zenith bank without collateral.

There are tons of loan types that you could run your plan(s) on. They include the following;

SME loans:

SME means Small and Medium-sized Enterprises. Most of these enterprises remain active and running with the aid of loans. Yes, Zenith will give loans to such enterprises without collateral. The chances are usually higher for enterprises that that are ruled and run by females.

The purpose of the SME loans includes the provision of the kick-off capital, the funds for growth of the enterprise, and all other money-gulping needs of the company.

al; margin: 0px 0px 20px; orphans: 2; padding: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; user-select: initial !important; white-space: normal; widows: 2; word-spacing: 0px;”>The rate of interest per annum for this kind of loan is about 9.

The payment regimen follows through a month, or a quarter of it

The requirements to qualify for this loan type include the following;

  • A Bank Verification Covenant
  • A reliable profile of the enterprise
  • Good credit checks


This particular loan type affords you being able to withdraw a sum of money that is more than whatever you have in your account at that point in time. Usually, the money must be returned within a year, which is fairly enough time.

Import Finance facility:

This loan type is available for those that desire to import substances from other countries. These substances could be the already finished goods, the starting materials, or some processing machine. This feature usually comes as Deferred Payment Letter of Credit. The Letter of credit is one that states a promise of the beneficiary being paid at a later date.

Export Finance facility:

This is one kind of loan that is available for those that transfer goods from their country to other countries. The loan is usually set into sail at the point before or after shipping of the goods.

Term loan:

This loan is a credit loan (either short term loan or middle term loan) that is usually given to fund projects that have to do with the growth of a particular business. You could pay back in form of bullets, balloons, or installments.


This particular feature allows businesses the grace to acquire specific equipment that they need for their running.


These are loans made by investing bodies and companies so that they can run some projects and operations. The info in a bond includes the date at which the money borrowed at first must be paid back. Then, you could find other information as regards the interest that should be added by whoever borrowed the money.

MSME loans:

MSME means Micro, Small and Medium Enterprises. These loans are used to fund enterprises of the MSME nature. The minimum amount of money that can be loaned is half a million, and the maximum amount that can be loaned is two million naira. To become eligible for this loan, you should be covered in the following areas;

  • A working Zenith bank account that is nothing less than 6 months of age.
  • The kind of MSME business you are signing up for the loan must be in any of these sectors—beauty, confectionary or fitness.
  • The business must have in its possession one of the Zenith electronic channels.

Retail loans:

These kinds of loans include the salary advancement kind of loans. It allows you to loan about 60% of your average monthly salary. There are also consumer loans, loans for the acquirement of assets, and loans for the acquisition of houses (mortgage loans)

Education loans:

These loans help guardians or parents to be able to fund the fees of their kids’ fees. The lowest funding you can get here is about a hundred thousand. The maximum you can get is about 5 million. However, the money will not be handed over to you. They’d be paid right into the account of the school. The requirements for this loan include a functional bank account owned by the parent or guardian. The child should also have an account secured in the bank. Then, an invoice for the fees should be presented at the bank.

How can I get loan from zenith bank without collateral?

To get a loan from Zenith bank without collateral, follow through with any of the steps below;

Dial the USSD code for loans to start. The code is *966#.

You will need to get in touch with any of the staffers in the bank via their email address or their contact address. You could also see the staff physically at any of the branches of the bank.

If you are going to work with the USSD code, you’d need to follow the instructions below;

  • Dial the *966*00# code to start.
  • You’d be prompted to type in the last four figures at the front of your ATM card
  • You’d see your name displayed across the screen for confirmation of the identity.
  • You would need to create pin that will be tied to your USSD banking.
  • Confirm the PIN by typing it out again.
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