In this article, I will be reviewing the best loan apps in Nigeria that approve the fastest instant loans from N5000 up to N50,000. You can even get up to N500,000 and more for businesses, without documentation, paper work or collateral.
These lending platforms which are considered the best online applications in Nigeria have the most flexible and convenient monthly payments, lowest interest rates and loans are easily processed. Once approved, funds are usually deposted to your bank account in few minutes. And more importantly, these special list do not harass you for loan repayment.
What are the best instant online loan apps in Nigeria?
The best instant online loan apps in Nigeria with fast approval and quick disbursement to your bank account are Branch App, Carbon App, Fairmoney, Aella Credit, QuickCheck, Alat by Wema, Lendigo App, Renmoney, Irorun App and Money in Minutes. These fast loan applications give access to instant online and urgent loan without documentation or collateral and are approved within few minutes. Customers data are secured and never breached. Harassment or unethical loan recovery methods are never practiced with these loan in minutes applications.
Now let us delve into deeper reviews of each loan apps, their loan amount, interest rate. repayment and other loan variables that may interest you in the following instant apps for money borrowing:
1. Branch App
Branch lending app is one of the best and most reputable loan apps in Nigeria giving loan amount of up to N500,000 and with over 10 million users as at the beginning of 2023. The lending platform is known for fast and emergency loans with monthly interest between 2.5% to 20% and APR of 18% to 260%.
Branch do not charge late fees or rollover fees, nor put restrictions on how you spend your money. Depending on the loan amount you select, monthly repayment options typically average 30 to 60 days.
2. Carbon App
Carbon loan app is another reputable lending platform popular for helping borrowers building good credit history. The app offers quick and instant loans without collateral, guarantors, or paperwork and has a loan amount up to N1,000,000. The platform is available night and day and you can apply for instant cash on weekends and holidays and get your loan approved.
Carbon, regarded as the second best loan app in Nigeria has interest rate ranging from 2% to 20% depending on the loan repayment period and it has gathered over 1 million users on Google Play Store. You can borrow loan amount up to N1 million without collateral, guarantors, or paperwork with a monthly payment period ranging from 1 to 12 months depending on the loan amount.
3. FairMoney App
Fairmoney loan app is yet one of the registered and best loan apps in Nigeria because of its seamless lending procedures, fast approval and excellent customer service. The loan is 100% online, with no collateral or documents required to apply.
Customers of FairMoney are in excess of 5 million on Google Play Store alone. Loan amounts range between ₦1,500 to ₦1,000,000 with tenor ranging from 2 to 18 months at monthly interest rates from 2.5% to 30% (APRs from 30% to 260%).
4. Aella Credit
Aella Credit app is well reputed as one of the best online loan apps in Nigeria to borrow money right now because of its respect for customer data privacy. The platform allows you to quickly borrow urgent cash loan either for personal or professional use without documentation or collateral of any sort.
Aella Credit app has a monthly interest rate of 2% to 20% and APR of 22% to 264% per year. Loan amount ranges from N2,000 to N1,500,000 while monthly payments range between 2 months to 12 months.
5. Umba App
Umba loan application is a trustworthy financial service provider and loan app in Nigeria. However, it is essential to follow the app’s instructions diligently to ensure a smooth borrowing and repayment process. To obtain a loan from Umba, individuals can apply through their mobile app downloaded from Play Store and fill necessary information. Applicable loan amount ranges from ₦2,000 to ₦30,000.
With very low interest rates, Renmoney is still one of the best loan apps in Nigeria and also one of the oldest, most reliable, and most reputable online microfinance platform. It is managed by a group of technology and finance enthusiasts who are passionate about making financial inclusion count in Nigeria.
With Renmoney, you can apply for a conventional loan to meet needs like growing your small business, renovating your home, buying a new car, paying rent, school fees, medical bills, etc. The app allows you to borrow from ₦6,000 to ₦6,000,000 and repay in 3 to 24 months.
QuickCheck loan app is one of the top 10 loan apps in Nigeria that have gained a prominence for excellent customer data privacy. The application allows you to borrow money with your smartphone and repay back easily without issues. It respects your data privacy online unlike the illegal loan apps that invade your contacts. Loans range from ₦1,500 to ₦500k with terms from 91 days – 1 year. Interest ranges from 2% – 30%, with an equivalent monthly interest rate of 1 – 21%. (APRs from 30% to 260%).
8. Alat By Wema
Alat by Wema is a trusted and reliable lending app in Nigeria offering easy access to quick and emergency cash loans without paperwork or collateral or documentation. Loans are available to all Alat customers via Alat App or the website.
As with everything else on ALAT, you can now apply for a quick loan without collateral or paperwork, no visitation to any physical location, and the response time between acceptance of the offer and loan disbursement is in minutes. You can now borrow as much as N2,000,000 (Two million naira) without collateral.
9. Lendigo App
Lendigo is last on our list of best loan apps in Nigeria and its loan is dedicated for small businesses. At the moment, Lendigo business app gives the higest digital loan amount instantly to small and medium scale organizations. You can get between 300,000 – ₦10,000,000 loan amount per invoice and credit line with 1% processing fee and commitment fee of loan facility. Interest rates is 4% per month on borrowed amount. Loan tenure is between 1 – 6 Months.
To borrow money from Lendigo, simply download the app from Google Play Store with your smartphone, register and complete your personal profile, submit your business and financial details, make a loan request. If you qualify, your loan will be approved in few minutes and you will get a loan offer based on your details. Once you accept the loan offer, your account will be credited.
10. Access More App
The Access More App, owned by Access Bank Plc is one of the best loan apps in Nigeria for customers seeking PayDay cash advances to be repaid once salary is paid at the end of the month. Only limitation is that the services are only available to account holders of the bank, therefore you need to open a new account to enjoy them.
11. GTWorld Quick Credit
With GTWorld our last on our list of best loan apps in Nigeria for instant cash, you have a reputable banking loan app for instant cash, designed to cater for your banking and money needs. However to enjoy its services, you first have to open an account with the bank. The platform is best for bank account holders seeking instant loan apps in Nigeria.
12. Specta Loan App
Specta is an online lending platform that gives you loans of up to 5 Million in one transaction all within 5 minutes! No collateral, no paperwork, and no visit to any office required. It is one of the top 20 best loan apps In Nigeria with very low interest and superfast lending processes.
With Specta, you can take care of urgent personal and business needs anywhere, anytime. The Specta4individuals package is particularly tailored towards accessing a personal loan of up to N5 Million without collateral in 5 minutes.
13. OKash App
Okash is yet another reputable loan app in Nigeria that gives you easy access to credit anytime, anywhere 24/7. It is a convenient quick online loan platform for Nigeria mobile users managed by Blue Ridge Microfinance Bank Limited. OKash fulfills customers’ financial needs completely online 24/7. The application process takes just a few steps with minimal documentation and the approved loan amount is transferred to the applicant’s bank account.
14. Money in Minutes App
Money In Minutes is rated one of the best loan apps in Nigeria for quick and superfast lending. You can get an instant loan from this app in few minutes of applying. The platform has a robust and wide range of products to help you access affordable finance for various needs and purposes.
15. Zenith Bank Quick Loan
The Zenith bank quick loan is powered by the USSD code *966# is an all in one code used by the money deposit bank customers for various online and real time transactions just with an internet enabled smartphone. The code also called Zenith Bank Quick Loan Code can be used to open a Zenith bank account, get a Zenith bank quick and instant loan, purchase airtime either for yourself or your friends and also used to transfer money from Zenith to other bank accounts.
Also the code is used to check your Zenith bank Account balance, BVN Update, check NIN and pay bills and subscription online. All of these types of transactions have their own various extension codes however.
16. Coolbucks App
Coolbucks though relatively new is still regarded as a reputable loan app in Nigeria and best for unsecured monthly instalment loans without collateral. The platform approves customers’ loan within minutes of completing your application.
Depending on your profile, Coolbucks can disburse within 5 minutes to 24 hours of completing an application. It offers small ticket loans from N15,000 to low income customers and up to N5,000,000 to high income customers. Borrowers can access loans within 30 minutes maximum.
17. P2Vest App
P2Vest is one of the best loan apps in Nigeria that has emerged as a prominent player in the peer-to-peer lending industry. This platform offers individuals a viable alternative for secured funding. With its robust platform, P2Vest connects borrowers with lenders and investors, providing an avenue for better returns on capital compared to traditional savings accounts and fixed deposits.
P2Vest being a peer-to-peer lending platform facilitates direct connections between screened borrowers and lenders or investors in the online lening marketplace. This innovative approach eliminates the need for intermediaries, allowing individuals to lend or borrow money directly from one another. By cutting out the middleman, P2Vest offers borrowers competitive interest rates and investors get better returns on their capital.
18. Migo App
Migo is our 18th pick on the list of best loan apps in Nigeria and it offers the option to borrow using a USSD code for quick and convenient access to loans. The quick loan application offers a diverse range of loan amounts, starting from as low as N500 to up to N500,000. For first-time clients however, the initial loan offers typically begin with smaller amounts, gradually increasing as trust and a positive borrowing history are established.
To initiate the loan application process through USSD, follow these steps:
- Dial *561# on your mobile phone.
- Choose the “Loans” option from the menu.
- Select “Request Loan.”
- Wait for the loan to get approved and receive further instructions.
19. Umba Loan App
Umba loan app is an easy to use mobile banking and financial application, which allows individuals to access low interest loans between N2,000 and N30,000, pay bills and perform some other basic transactions and repay within a loan tenure of 8 weeks.
Umba application is one of the best financial app that allows users to apply for, withdraw, and repay loans. It uses a risk assessment to determine loan options and can disburse loans quickly without requiring collateral, documentation, or in-person visits. Umba is available 24/7 and does not charge late fees or rollover costs. To apply for a loan from Umba, do the following, download the mobile app from the Google Play Store, register and request for your loan.
20. Kiakia App
Kiakia is a unique peer-to-peer online loan marketplace in Nigeria that connects borrowers and lenders for loan and investment opportunities, allowing individuals or businesses to lend money as an investment, while also at the same time providing access to instant loans for borrowers.
To use Kiakia loan platform, users must be Nigerian with a valid ID, bank account, and BVN, as well as a verified source of income. The platform utilizes a credit scoring algorithm to evaluate a person’s financial history and determine their creditworthiness.
21. Xcrosscash App
Xcrosscash is an emerging lending application in Nigeria that gives quick loans without collateral. The lender activates your credit limit and withdraw cash for urgent needs. And you have chance to level up your credit limit by different ways, which means you can enjoy higher limit, lower interest, more flexible tenor by using it.
22. PalmCredit App
Palmcredit is a top digital lender in Nigeria without where you can borrow between N2,000 to N300,000 quick loan and if your documentations are complete and accurate, you can get your disbursement within a few hours or even minutes.
When your financial obligations are overwhelming you and the bills piling up, Palmcredit loan app can provide you with instant cash. The lending platform says it can provide a quick loan of up to ₦300,000 in less than 3 minutes without any form of collateral.
23. SukFin App
SukFin is another of the best loan apps in Nigeria for 2023. The app provides free and easy way for SMEs in Nigeria, to research and find finance for their businesses. The organization employs the use of tech and expertise to match SMEs with a variety of lenders — giving access to a number of funding products across Nigeria. It’s easy to apply and as long as you provide them with requested information — funds can be in your account quickly and instantly.
24. C24 Capital App
C24 Capital is one of the best loan apps in Nigeria for instant lending in 2023. The financial institution provides retail credit for consumers in need of emergency cash funding and is focused on delivering services that can be accessed online, from any internet-enabled device anywhere within Lagos.
25. MoneyPal (Zedvance) Loan App
MoneyPal owned and managed by Zedvance Limited takes a high rating on our list of best loan apps in Nigeria for instant loan.
Zedvance Limited is a consumer finance company that offers loan packages that cater to all your financial needs regardless of what they may be. The company claims an eligible individual or small business can get up to N5million quick loan in 5 hours. Customers can enjoy loan tenors up to 24months at Annual Percentage Rate (APR) of 34.8% – 365%.
What are the top 20 loan app in Nigeria?
The Top 20 loan apps in Nigeria for instant loan and disbursement are Branch Loan App, Carbon loan App, FairMoney Loan App, Aella Loan App, Umba Loan App, Renmoney, QuickCheck and Lendigo Loan App among other reliable online lenders. Their loan approval process is very quick and need no collateral, documentation or physical office visit, as is common with traditional money deposit banks.
What are the best loan apps in Nigeria for Android and iOS users?
- Carbon (formerly pay later)
- Credit ville
- Kiakia loans
- Allea credit
- Quick check
- Kwikmoney (Formerly Migi)
What Are The Best Loan Apps in Nigeria, loan amount and their interest rates?
Here’s a table containing the best loan apps in Nigeria, their interest rates, and loan amount in 2023:
|Loan App||Loan Amount||Interest Rate|
|Carbon (Paylater)||₦1,500 to ₦1,000,000||1.75% – 30%|
|Renmoney||₦6,000 to ₦6,000,000||2.4% – 9.33%|
|Fairmoney||₦1,500 to ₦1,000,000||2.5% – 30%|
|Branch||₦1,000 to ₦500,000||15% – 34%|
|QuickCheck||₦1,500 to ₦500,000||2% – 30%|
|Aella Credit||₦1,500 to ₦1,500,000||2% – 20%|
|Palmcredit||₦2,000 to ₦100,000||14% – 24%|
|KiaKia||₦10,000 to ₦200,000||15%|
|Okash||₦3,000 to ₦500,000||9% – 30%|
|Umba||₦3,000 to ₦300,000||10% – 21%|
|FlexiCash By PalmPay||₦1,500 and above||15% – 28%|
|Kuda||Up to ₦50,000||9% – 30%|
|P2Vest||₦2,000 to ₦ 2,000,000||Varies|
|ALAT||₦50,000 and above||2%|
|Specta||Up to ₦5,000,000||25.5% – 28.5%|
|Lendigo||₦100,000 to ₦10,000,000||4% – 8%|
|Page Financials||₦100,000 to ₦5,000,000||3.1%|
|Irorun||Up to ₦50,000||4.5% – 35%|
|Credpal||₦5,000 to ₦500,000||3.8% – 8%|
|Borome||₦2,000 to ₦100,000||27%|
What Are The Best New Loan Apps in Nigeria 2023?
The best and most reputable new loan apps in Nigeria in 2023 are Fair Credit, Blocka Cash, Kredi Loan, Coolbucks and P2Vest among others. These loan applications are digitally secure, entire online, approve urgent cash loan fast whether you are an individual, business owner, or self-employed. And they do not require collateral, documents or paperwork. Just your internet enabled smart phone at the comfort of your room.
Are there fast loan apps in Nigeria?
The following are quick lending applications for emergency cash in Nigeria:
- Payday Advance – Borrow Money
- Irorun – Fast loans with ease
- YesCredit – Quick Loan
- Kashcash-personal loan online
- Wecredit – Get loan now
- Joy Cash-Loan Up to 1,000,000
- Xcrosscash-loan online app
- Lendigo Loan App for Business
- Palmcredit-instant loan online
What are the best loan apps on iPhone in Nigeria? [Best Nigeria loan apps for iPhone]
The best Nigeria loan apps on iPhone with the lowest interest rates, flexible repayment and fastest loan processing are P2Vest, Aella Credit, KiaKia, Irorun, Renmoney, Blocka Cash, Page Financials, Carbon, PalmPay and Kuda. All these lending apps can be found on iPhone and operate online 24/7 providing loan access to millions of borrowers using iPhones without collateral or documentation.
Wat Are The Most Reliable Top 20 Loan Apps In Nigeria in 2023?
Are you looking for the top 20 loan app in Nigeria to get a quick loan to settle business or personal issues? When you need an instant loan, you would need any of the most reliable good loan apps that you can compare for best options.
The top 20 loan apps in Nigeria are Branch, Carbon, FairMoney, Aella App, Umba Loan, QuickCheck, Renmoney, Alat by Wema, Lendigo, Quick Credit, Access More, Specta loan, Lydia, Sufkin, Money in Minutes, Migo, CoolBucks, GTB, Page Financials and MoneyPal. These trusted and reliable loan platforms and lending apps require no documentation, collateral or ATM Card inputting, and have fast loan approvals and cash disbursement.
What are the benefits of online loans in Nigeria?
Online loans have numerous benefits that distinguish them from ordinary loans, as they are quick and can be easily gotten in a matter of minutes. Here are some of the benefits of online loans:
- Easy accessibility
- Unrestricted availability for 24 hours every day
- No need for collateral or paperwork
- Quick disbursement
- The money is disbursed directly into your account
Can I get a loan in Nigeria instantly?
Yes, you can. The following which are considered the best loan apps in Nigeria give instant online loans such as Branch app, FairMoney app, Carbon App, QuickCheck, Irorun App, Aella Credit. To apply, simply download the loan app from Google Play Store. Sign up with the phone number linked to your BVN, answer a few questions and confirm your identity to receive a loan offer. If you accept it, you will receive your loan instantly in your preferred bank account!
What Are Top 30 Reliable Loan Apps In Nigeria?
Some of the top 30 reputable loan apps in Nigeria to borrow money right now instantly without collateral, documentation or paperwork include Irorun, Branch, OKash, Kiakia, Aella, Carbon, Page Financials, PalmCredit, FairMoney, Renmoney, QuickCheck, Umba, Quick Credit, Money In Minutes and Lendigo among other legit instant loan apps across the country.
The best loan apps in Nigeria to borrow money right now with the fastest approval include Branch app, Carbon app, FairMoney and Aella Credit among other reputable lenders which protect customers’ data privacy, and ensure quick and easy processing without collateral, documentation or paperwork.n QuickCheck, Alat by Wema and Lendigo business App are also good loan apps.
You can get an instant loan of N500,000 or more approved and disbursed into your bank account within few minutes of applying from any of these lending applications without submitting any collateral, documentation or paperwork.