Wema Bank Loan Without Collateral – How to Apply & Get

Wondering if Wema Bank gives out loans without collateral? You’re in the right place! In this post, we’ll tell you all you need to know about Wema Bank’s loan offerings and how you can get one for your needs. Let’s get right into it!

Does wema bank give loan?

YES! Wema Bank does provide loans to its customers. It’s one of the services they offer to help their customers with their different financial needs. Whether you need a personal loan, business loan, or any other type of loan, Wema Bank has you covered.

Types of wema bank loan

Now that we know Wema Bank offers loans, let’s take a look at the different types they have:

Personal Loans

Wema Bank offers personal loans to individuals who need financial help for various reasons, like medical bills, car loans, or even a vacation. You can use these loans for almost anything, and they come with fair interest rates and flexible repayment terms.

School Fees Advance/Student Loan

This type of loan is provided to help students or parents with on-time payment of school fees, lodge/hostel rent, writing materials, and so on.

Business Loans

If you’re a business owner or looking to start a business, Wema Bank can assist you with business loans. Whether you need money to launch a new venture or expand your current one, they have loan options designed to suit your specific needs.

Salary Advance

Wema Bank also provides salary advance loans to people with regular salaries. With this type of loan, you can access a part of your salary before your payday. It’s a convenient way to address immediate financial needs without waiting for your monthly paycheck.

Wema Asset Acquisition Scheme (WAAS)

Wema Bank offers this loan to its customers in an effort to ease the weight of buying or acquiring any asset of their choice such as pre-owned or new vehicles and generators(mid-sized).

Wema bank loan without collateral

Now that you know the type of loans offered by Wema bank, let’s discuss how you can get one without collateral. Obtaining a loan from Wema Bank without collateral is possible, and I’m here to walk you through the steps.

  1. Check if You’re Eligible

Before you apply for a loan at Wema bank, it’s important to check if you meet the bank’s requirements. Generally, you’ll need to show that you have a stable source of income and meet certain age criteria. Make sure to review the specific standards or requirements for the type of loan you’re interested in.

  1. Get the Loan Application Form

To apply for a collateral-free loan, you’ll need to go to any Wema Bank branch nearest to you. Bring all the necessary documents with you, including valid identification (i.e. national I.D card, voter card,), proof of income, and any other documents the bank may request.

  1. Fill the Loan Application Form

Once you’re at the bank, meet any Wema Bank staff to guide you through the loan application process. They’ll provide you with the necessary forms to fill out.

  1. Wait for Loan Approval

After you submit your loan application, Wema Bank will review it. They’ll evaluate your reliability, income stability, and other factors. If your application is approved, you’ll receive the loan amount you requested.

Alternatively, you can also visit the Wema bank official website or dial Wema Bank’s USSD code for loans – *945*65# follow and answer the prompts correctly and you will have access to mobile loans.


Wema Bank provides loans, and you can get one without collateral. Just be sure to meet the eligibility requirements. Also note that it’s important to understand the repayment terms and ensure you can meet them. Wema Bank offers flexible repayment options, which may include monthly installments though they may vary depending on the type of loan you need but they will be specified to you before the loan is given. Make sure you repay your loans to maintain a positive relationship with Wema bank.


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