10 Best Instant Loan Apps In Nigeria For Students

Looking for the list of best instant loan apps in Nigeria for students, found on Google Play Store for your Android phones or on Apple Store for your iOS devices, reputable, safe for your download, that operate without shame or threat to customers, look no further. QUICK LOAN ARENA, the number 1 review website for loan apps and digital banks in Africa brings you the top 10.

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Instant Loan Apps In Nigeria For Students
10 Best Instant Loan Apps In Nigeria For Students

So if you are a student and in need of instant cash to meet some petty obligations or emergency needs, which cannot wait, you may want to consider any of the following platforms in our list of top 10 specially selected instant loan apps in Nigeria for students.

Top 10 Instant Loan Apps In Nigeria For Students

The following list contains our top 7 instant loan apps in Nigeria for students. Just make sure you are 18 years or more. These lending platforms do not require collateral, documentation or guarantee. You do not have to make any physical presence to ay office or submit any hard copy documents. With your smart phone, you are good to go.

Let us go on the ride. Our list of first 10 include:

  1. GTB School Fees Advance
  2. Carbon Loan App
  3. QuickCredit Loan App
  4. Wema Bank In Partnership With MOD Group
  5. FairMoney Loan App
  6. QuickCheck Loan App
  7. FINCA Microfinance Bank School Fees Loan
  8. Aella Credit Loan App
  9. Money In Minutes Loan App
  10. Xcrosscash Loan App
  11. AccessBank Advance for School Fees

1. GTB School Fees Advance

What’s in it for you

  • Up to N5 Million School Fees Advance. Maximum tenor of 4 months per request.
  • Very Competitive interest rate. Equal monthly repayments comprising of principal and interest.
  • Instant loan access to funds for the prompt payment of your child/wards school fees.

How to Apply for School Fees Advance

2. Carbon Loan App

Carbon, formerly known as Paylater, is one of Nigeria’s leading digital quick loan platforms that gives instant loans to students, workers, unemployed and business owners alike. With over 40 employees, they have a presence in Nigeria, South Africa, United Kingdom, Ghana and Portugal. Carbon is arguably the best and most reputable loan app for instant cash in Nigeria. It’s the number 2 in our list of instant loan apps in Nigeria for students and every category of citizens.

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Digital lending from Carbon do not require collateral or guarantors. At your first try, you may not be able to access big funds, you start by borrowing small, and paying back as at when due, then you can have access to bigger funds.
The loan platform is available 24/7. You can apply on weekends and holidays and get a quick loan.

How To Apply for Student Loan from Carbon App

You need to download and use the Carbon app. (SEE BELOW FOR DOWNLOAD LINK.)

You will be required to provide your basic details such as name, phone numbers and more.

A photo of you which you may have to snap real time with your phone via the app

Bank Verification Number (BVN)

Bank account details

Your ATM card that will be used to pay back loan. You will also submit major details of the card. You will be billed an initial N50 or N100 to authenticate the card.

Download the app
The first step towards getting a loan is to download the app from Google play store or Apple App store. The app is for android and iOS devices.

To download the app on Google Play Store CLICK HERE.

To download the app on Apple Store for iOS devices, CLICK HERE.

To get more information about Carbon quick online loan app CLICK HERE.

3. QuickCredit 

QuickCredit is a simple, technologically deployed lending platform and it’s the number 3 on our list of instant loan apps in Nigeria for students. The platform provides micro loans for short- terms duration to help meet and cover unexpected emergency expenses and urgent cash needs either as a student, worker or business owner.

With QuickCredit, getting loans is a simplified process and you can apply for up to ₦100,000 with loan tenors of up to 90days and have your money sent straight to your bank account in minutes.

Quick Credit super-fast loan solution comes with no paperwork and no delay to meet your urgent financial needs within 24 hours.

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How To Apply For Student Loan From QuickCredit Lending Platform

Create Account

Register through their website, our MoneyPal app or by chatting Zee on Whatsapp
man beside giant iphone x-series illustration

Apply for a loan

Fill out our brief application form with your information and we’ll review your application within Five (5) minutes.
man spraying cash on a giant credit card illustration

Receive funds

Once approved, funds are typically received within 5 minutes.

To register and apply for loan through their website CLICK HERE.

To download the app on Apple Store for iOS devices, CLICK HERE.

To get more information about Carbon quick online loan app CLICK HERE.

4. Wema Bank In Partnership With MOD Group

Instant Loan Apps In Nigeria For Students
Instant Loan Apps In Nigeria For Students

Wema Bank In Partnership With MOD Group offers a reputable special School Fees Advance Package for students wanting to study abroad.

This new loan package by Wema Bank in partnership with MOD Group (An Education Advisory organisation)  offers up to N5,000,000 in school fees in advance to finance the payment of school fees of primary, secondary, and undergraduate /postgraduate education both in Nigeria and abroad over a 12-month tenure.

With the Wema Bank School Fees Advance Package, you can get a student loan to study abroad

Receive loans of up to ₦10 million to study at any of the bank’s approved partner institutions, whether you’re going for an undergraduate or postgraduate programme.

Who Is Qualified To Access This Education Loan Package?

Every parent who meets the Bank’s loan eligibility criteria or duly referred by MOD Education Nigeria Limited, or whose child has a Royal Kiddies or Purple Account can apply for this loan.

Parents/guardians who are salaried individuals, self-employed individuals, Wema Bank staff, businessmen/women with fairly regular income streams and employees of reputable organizations are eligible to apply.

How To Access The Wema Bank School Fees Advance Package In Nigeria

1. Apply
Complete the form to apply

2. Check Eligibility
A counsellor will speak with you via phone/email

3. Secure Your Offer
Secure an offer at a partner university

4. Receive Loan
Congrats. You now have access to the study loan

5. Get Visa
A counsellor will help you get your visa

6. Value Added Services
Receive other financial & study support benefits

As a parent must I have an account with Wema Bank to access the school fees advance package?

No, where parent does not have an account with Wema Bank or salary is not or cannot be domiciled, irrevocable standing order from customer’s bank where salary is paid, or post-dated cheques must be in place

How does the repayment work?
Equal monthly repayments or bullet repayments comprising of principal and interest which shall not exceed 30% – 60% DSR (Debt Service Ratio) of parent’s/guardian net monthly salary.

Can I access the facility to pay for my child/ward schooling abroad?
Yes, the school fees advance facility can be used to pay fees overseas.

I have part of the school fees with me, and I want the bank to finance the rest, is it possible?
Yes, it is possible.

How does the school receive the school fees?
The bank will make the payment directly to the school on behalf of the parent/guardian.

Can an individual apply to study abroad?

Loan can only be availed to the parent/guardian or sponsor of the individual except in cases where the individual has an existing business with a viable cashflow that can meet monthly repayment on the loan.

To apply for the Wema Bank school fees advance package, Click here.

5. FairMoney 

FairMoney is our 5th on our list of instant loan apps in Nigeria for students and every category of citizens alike. The digital bank offers instant access to cash in the of range ₦1,500 to ₦1,000,000 with repayment periods from 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%)

Loan characteristics
Loan amount from ₦1,500 to ₦1,000,000
Repayment periods from 61 days to 18 months
APR from 30% to 260% per annum
Interest discounts of up to 90% for early repayments
No hidden fees

An example of a FairMoney loan
Borrow ₦100,000 over 3 months
Interest (total cost of the loan): ₦30,000 (30% rate)
Three monthly repayments: ₦43,333
Total amount payable: ₦130,000
Representative: 120% APR

With the FairMoney app, you can:
– Get an account number and use it to receive money from anyone in Nigeria
– Add money to your account
– Send money to any bank account for FREE
– Apply for loan and receive it instantly
– Pay your bills

To download the app on Google Play Store for android devices, CLICK HERE.

To get more information about FairMoney online loan CLICK HERE.

To visit their website CLICK HERE.

5. QuickCheck 

QuickCheck is a reputable digital lending platform that uses machine learning to predict borrower’s behaviour and instantly evaluate loan applications. Its aim at offering digital financial services to help students and other Nigerians get closer to their personal and business goals. The platform works like other instant loan apps in Nigeria for students and every other citizens.

How To Apply For A Student Loan With QuickCheck Platform

Create a Profile
Download the app for free,
Sign up for an account
and let us get to know you.

Apply for a Loan
Apply and we will instantly
run your credit score and let
machine learning decide
if you qualify.

Get Cash
If you qualify,
your cash will be disbursed
within minutes
to your bank account.

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To download the app on Google Play Store for android devices, CLICK HERE.

To get more information about QuickCheck online loan CLICK HERE.

To visit their website CLICK HERE.

6. FINCA Microfinance Bank School Fees Loan

The FINCA Microfinance Bank School Fees Loan is a short term reputable loan offer that is intended to facilitate the prompt payment of school fees by parents and guardians for their children and/or ward’s educational needs such as tuition fees, uniforms, books, meals , school bus among others.

The loan is structured in such a way that the children’s school must not necessary have an account with FINCA for the parents or guardians to access this loan.

Why Should You Apply For This Loan?

This loan ensures that your children never miss one a day at school because their fees are paid promptly.

Pay for all your children hassle free.

Does not restrict you from taking business loan.

Very easy to access with flexible collateral.

Insurance cover for life and disability.

Gives peace of mind because the entire session fees is paid for.

The interest rate is on reducing balance.

No upfront savings.

To Apply as a new customer, Click here.

To Apply as a repeat customer, Click here.


Plot 20 Wetheral Road

Owerri Municipal, Imo State, Nigeria

+234(0) 701 777 1072


7. Aella Credit

Aella Credit is a reputable lending platform that exists to simplify and open up financial access for all in emerging markets by leveraging technology and widespread mobile adoption for Nigerian borrowers either as a student or graduate or as a worker. It is the 7th on our list of instant loan apps in Nigeria for students.

Aella Credit helps students and other customers build financial independence by providing access to simple products; quick loans, instant cash, investment opportunities and bill payments.

How Aella Credit Loan App Works

1. Download Aella app

Download the Aella Credit app from Google Play Store or IOS App Store.

2. Create your account

Simply fill out your details in less than a minute and submit for a quick review.

3. Update your profile

Update your profile by providing answers to quick questions about you.

4. Check Eligibility

Click the “Check Eligibility” button to see the amount of loan you are eligible to borrow in seconds.

5. Apply for loan

Loans will be sent to your provided account in 5 minutes or less.

6. Receive funds in your bank account

Loans can be repaid via the App or directly to your personalized bank account. Build your credit score to qualify for higher loans.

You can download Aella Credit app on Google Play Store by clicking here.

You can download Aella app on App Store by clicking here.

8. Money In Minutes

Money In Minutes is one of our top in the list of reputable instant loan apps in Nigeria for students and other qualified borrowers. The digital lender promises instant cash for eligible applicants and it is managed by MIM Finance Company, a UK-originated lending platform with presence across three (3) continents and Nigeria’s 1st Credit Membership.

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With over $10 Billion disbursed over the last two decades, Money In Minutes is in a position to help students, individuals and businesses achieve their short and long term financial needs. According to the company: “Affordable and stress-free finance shouldn’t be for the privileged few but for ambitious and hardworking citizens that can demonstrate the ability to afford repayments.”

To apply for a Money In Minutes Student or other loan, CLICK HERE.

9. Xcrosscash

Xcrosscash is an emerging platform and we found it qualified to join the list of reputable instant loan apps in Nigeria for students. The lender lets activate your credit limit and withdraw cash for urgent needs. And you have chance to level up your credit limit by different ways, which means enjoy higher limit, lower interest, more flexible tenor by using it.

Special features
– Limit from ₦ 10,000 to ₦ 50,000
– Repayment periods from 91days to 180days
– Monthly interest rates from 4% to 4.7%
– Annual percentage rate (APR) from 24% to 56% per year
– Example: If you choose a 6-month loan and borrow ₦10,000,Xcrosscash charges an interest rate of 4% per month.Interest rate: 24% and the APR is 48%.180 days repayments of ₦24,00.Total amount payment is NGN124,00.

loan applicant requirement
Nigeria resident
20 – 55 years old

How To Apply Loan With Xcrosscash

• only three steps to get cash:
– register.
– activate your credit limit in minutes.
– withdraw cash to your bank account.
• You have chance to raise your limit by taking some relaxed activities or system limit up, just keep good repayment record.
Download Xcrosscash app on your android phone

With Xcrosscash, getting money is the easiest.
no waiting times to getting money. Our service is available 24/7- you can get money when you need it, right on your mobile device.
you can get funds,whether you’re salary earner or self-employed, Xcrosscash can help you achieve your goals.
get rewarded for positive actions.By repaying loans on time,you have chance to get free interest rate on this app.

Contact us
• We are available 24/7 to assist you with your request
• Service Email: xcross.tyz@gmail.com
• Our Office Address: 50c Sauket St, Ikeja GRA, Ikeja, Lagos, Nigeria

You can download the Xcrosscash loan app on Google Play Store by clicking here

10. AccessBank Advance for School Fees

Are you in need of an affordable loan to cover educational expenses? Access Bank Advance for School Fees, offers short term financing for tuition fees from pre-primary school to post-graduate study and even payment for professional certifications. However you need to have an account with the bank to enjoy this loan offer in Nigeria for students.

Features of AccessBank Advance for School Fees

Interest rate @ 20% p.a.
Management Fee: 1% only
Spread repayment over a period of 4 to 6 months
Easy remittance of fees to school
Refinancing is available
Required Documents
Completed loan application form
Means of Identification
Admission letter
Tuition Bill
Credit Checks
Duly accepted offer letter & term sheet

How it works

Download the attached forms and fill in with accurate information
Append your electronic signature (don’t know how to go about it? Very easy! Simply download any scanner app on your phone, scan your signature and save as image. Copy and paste the image on the form.)
Submit completed form and all required documents at your branch
Loan is processed for approval
Loan is approved and offer is communicated to you for acceptance
Upon receipt of the executed offer letter and your meeting the conditions, the loan is disbursed into your account and payment is made to the school
For refinancing, evidence of payment made will be required

To Apply for the AccessBank Advance for School Fees, Click here.


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About the Author: Femi Adeoya

Mr Femi Adeoya is a Chartered Forensic Accountant and a Certified Fraud Examiner. He has over 20 years professional work experience in accounting, finance and business management processes. As an Accounting Software Expert, he has implemented and supervised accounting solution set up of over 50 small and medium businesses in Nigeria. As a passionate blogger, Mr Adeoya is an ardent writer and communicationist. He is the CEO of QUICK LOAN ARENA (quickloanarena.com), the number 1 loan apps review website in Nigeria. He is very passionate about the quick and instant loan industry in Nigeria and has written over 200 reviews on different loan apps and digital banks in Nigeria, USA, Canada and UK.

1 Comment

  1. This list is one of the best online, well researched and detailed. WELL DONE QUICK LOAN ARENA for your tips on helping students access quick loans

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