Top 16 Best Instant Online Loan In Nigeria

A sudden financial crisis is unavoidable for anyone. With the evolution and digitization of the finnacial system, gathering instant online loan in Nigeria has become easy and seamless.

Before this time, getting instant online loan in Nigeria to manage such circumstances could have been a challenge when there was no digital lending system made possible through quick loan apps. Today, the scenario is completely different. Technology has taken our lives to a whole new level. Getting instant online loan in Nigeria is possible within a few minutes from the moment you apply for it.

urgent cash loan instantly without documents
Top 16 Best Instant Online Loan In Nigeria

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How To Apply For Instant Online Loan In Nigeria

Most of the instant online loan in Nigeria have zero physical documentation, no collaterial and can be applied online just using your mobile phone. By visiting the official website of the lender or downloading their loan app on Google Play Store or Apple Store, you will be able to apply for the instant online loan. You will have to enter your personal and income details for loan processing. The lender might ask you to upload the proofs online for verification, following which your loan will be approved or rejected.

Downloading the mobile application as we said earlier is another easy way to apply for instant onlne loan in Nigeria. You need to download the app from Google Play Store or App Store and register yourself with your social media profile or by creating a new profile. This can usually be achieved after entering basic details such as address, BVN, NIN, bank details, photograph, etc., and uploading the valid documents.

Best Instant Online Loan In Nigeria 2022

QUICK LOAN ARENA brings you the list of top 16 best instant online loan in Nigeria 2022. You can patronise any of them for your quick cash instant borrowing.

  1.  FairMoney
  2.  Access More
  3.  OKash
  4.  Starloan
  5. CreditAll
  6.  QuickCheck
  7.  CashCredit
  8.  Renmoney
  9. GSOU Loan
  10.  Umba
  11. iMoney
  12. GTB Quick Credit
  13.  True Naira
  14.  Quick Credit
  15.  Branch
  16. EasyCredit

1. FairMoney

FairMoney is a top instant online loan in Nigeria and leading digital bank. In the last four years, over 3 million customers have patronised FairMoney for instant online loan. Loan amounts range between ₦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%)

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Now, the FairMoney app is more than just an instant online loan in Nigeria. The platform owns a Microfinance bank that is duly licensed by the Central Bank of Nigeria. As such, all your deposits are insured with the Nigeria Deposit Insurance Corporation (NDIC).

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

2. Access More

The Access More App is an instant online loan in Nigeria owned by Access Bank Plc that gives PayDay loans to its customers among other things. Unfortunately the services are only available to account holders of the bank. You can also open a new account if you want to become their account holder.

The App is built to help the bank’s customers execute their financial transactions, payment solutions and enjoy a lifestyle experience. Prospect customers are welcome to become account holders by downloading the App and onboarding themselves on the platform seamlessly.

How to get the Access More App

  • Download and install the Access More App
  • Existing Access Mobile App users can login with the same username and password and transact with their existing PIN
  • Existing Diamond Mobile App users can login with the same username and password and transact with their existing PIN
  • For new users, simply open the downloaded App and register

You can download the Access More app on Google Play Store by clicking here

3. OKash

Okash is one of the best instant online loan in Nigeria that gives you easy access credit anytime, anywhere in Nigeria.

It is a convenient quick online lkoan 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

Loan Products:

  • Tenure: Repayment ranges from 91 days to 365 days.
  • Loan Amount: from NGN 3,000 to NGN 500,000.
  • Interest Rate: With a minimum of 0.1% up to 1%
  • Their interest rate is calculated on a daily basis. Annual interest rates from 36.5% to 360%.
  • Origination Fee: Range from NGN 1,229 – NGN 6,000 for a one-time charge

Why OKash?

1.You can apply a loan by your credit. Don’t need any deposits or guarantees.
2. Up to NGN500,000. Disburse to your bank account.
3.Paperless and digital process on your mobile. All the steps can be done online.
4.We do not share your data with any third parties without your consent. Your data is totally safe with us.
5.Don’t worry about forgetting repayment. We’ll send messages to remind you.

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.You can download the Okash app on Google Play Store by clicking here

4. Starloan

Starloan is a top instant online loan in Nigeria that provides mobile users with convenient lending services. Once approved, the money will be immediately transferred to your account.

Product Features

Loan Amount: ₦1,0000 ~ ₦300,000
Loan Term: the shortest is 120 days, the longest is 365 days
Loan interest: Depends on the customer’s risk profile and loan tenure. The interest rate is from 10% to 28% per annum.
Service charge: 0.

How to APPLY
1.Download Starloan App from google play store and install.
2.Register an account with your phone number.
3.Fill in basic information.
4.After the submission of the loan application, the final result will be shown in the APP.
5.If approved, the loan amount will be disbursed into the bank account directly.

Address:360 Herbert Macaulay Way, Yaba 101245, Lagos, Nigeria

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

5. CreditAll

CreditAll is a instant online loan in Nigeria without collateral or documentations. It’s a convenient and reliable way to fix your spending gap.

Loan amount: ₦3,000 – ₦50,000
Loan term: the shortest is 91 days, the longest is 365 days
Daily interest rate: 0.0057%
Maximum annual interest rate APR: 20.55%

How To Get A Quick loan
1. Create your account.
2. Apply in seconds.
3. Receive your loan straight into your bank account.
4. Increase your loan limit every time you repay a loan.

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

6. QuickCheck

QuickCheck is one of the best instant online loan in Nigeria owned by a Nigerian Fintech company that aims to provide banking services to the underserved. Built by people who work towards solving real-world problems, the company observes that a large portion of the Nigerian population has no access to proper banking services and thus aims to fill this gap every day, one Nigerian at a time.

With the QuickCheck Quick Loan App, there are no long queues, no long wait times, no collateral or guarantors needed. Just your smartphone and our loan app and you gain access to quick cash credited straight into your bank account. Access quick cash loans at single-digit interest rates, anywhere, anytime. This loan app for Nigerians, helps you access instant online quick credit without collateral.

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

7. CashCredit

CashCredit is another top instant online loan in Nigeria that provides Nigerian mobile users with convenient lending services. With simple steps and minimal documentation, users can get qualified loan products which is 100% online process. Once approved, the loan amount will be immediately disbursed to the applicant’s bank account.

Product Features
1.High Loans Amount: NGN 7,000 to NGN 100,000.
2.Long Loan Tenure: 91 days ~ 365 days.
3.24×7 access to loans with intelligent online process.
4.No credit history required.
5.Automatically reviewed: 24×7 access to loans.

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

8. Renmoney

Renmoney is one of the best instant online loan in Nigeria with head office in Lagos.

You can get a quick loan on the Renmoney app in just a few steps. Renmoney quick online loans are for employed or self-employed people as well as business owners. So, if you need an instant personal or business loan, you can borrow from ₦6,000 to ₦6,000,000 and repay in 3 to 24 months.

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

9. GSOU Loan

GSOU Loan is a personal and instant online loan in Nigeria that focuses on providing high quality lending service, responding to user needs quickly, improving the reliability of loans.

As your credit score grows, the loan amount increases for every loan.
You can apply a loan completely online according to your financial needs every time, every where.

Product Introduction:
Tenure: 91 days – 180 days

Loan Amount: 8,000 NGN – 100,000NGN
Maximum APR: 25.55%;(0.07%days)
Other fees: 0

You can download the GSOU Loan app on Google Play Store by clicking here

10. Umba

Umba is an instant online loan in Nigeria with app hosted on Google Play Store that prides itself as the leading digital bank in Africa. The app allows users to apply, drawdown and repay loans directly from their smartphone or desktop computer.

Once an individual is verified, it makes lending decisions based on an assigned risk rating.

What do people use Umba for instant online loan in Nigeria for?

IT’S EASY TO GET STARTED
Create your account
Apply in seconds
Receive an Umba Loan
Increase your loan limit every time you repay a loan on time

SAFE AND SECURE
Umba makes getting a personal loan simple by using the data on your phone including your SMS history to verify your identity and create a credit score. We encrypt the data you choose to share with us to protect your privacy. We take your privacy very seriously and promise to never share your information with third parties.

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

11. iMoney

iMoney is a top instant online loan in Nigeria domiciled on Google Play Store that gives instant cash of between N5,000 to N500,000

The instant Loan App offers:
1. Loan Amount: ₦5,000 ~ ₦500,000
2. Loan Term: the shortest tenor is 91 days, the longest is 180 days
3. Interest rate: 12% – 36%APR
4. Service Fee: 0%
5. Loan request: Need to be at least 18 years old or above

To apply for a loan, you just need to follow several steps:
* Create your account
* Apply a loan
* Receive your loan straight into your bank account
* Build your loan limit every time you repay a loan

Your loan is sent to you right through your bank account:
Nigeria: Any bank account

CONTACT
Facebook page: https://www.facebook.com/pg/iMoneytech
Email:help@imoney.ng
Address: (SAPETRO) TOWERS 1, ADEOLA ODEKU STREET, VICTORIA ISLAND LAGOS.(Lagos, LAGOS)

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

12. GTB Quick Credit

Gtbank Quick Credit is a digital lending platform and  top instant online loan in Nigeria where account holders can apply for loan and get an instant cash between N10,000 and N5million.

Whether you are a salary earner or self-employed, you can now get the cash you need instantly, and pay back over 6 – 12 months courtesy of Quick Credit loan scheme.

Quick Credit gives you funds up to N5million at an interest rate of 1.5% monthly.
and it has no hidden charges.

FEATURES OF GTBANK QUICK CREDIT

Up to N500,000 – 5 Million
Convenient repayment plan spread over 6 – 12 months.
At an interest rate of 1.5% per month

HOW TO APPLY FOR QUICK CREDIT
You can request for QuickCredit instantly by dialling *737*51*51#
QuickCredit is also available on all GTBank online and mobile banking platforms (Internet Banking, GTWorld and GTBank Mobile App)

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

13. True Naira

TrueNaira is another instant online loan in Nigeria offering small loan amounts between N2,000 to N50,000

Loan Applicant Requirement
* Age between 20 to 60
* Nigeria Citizenship

The Online Loan App offer
* Loan Amount: ₦ 2000 – ₦ 50,000
* Loan Term: 91 – 365 days
*Annual Interest rate: 16% -21%
* Service Fee: 0

Example
If you choose a 6-month loan and borrow ₦1,000, TrueNaira charges an interest rate of 1.3% per month. And the interest rate is 7.9%, we would charge you ₦79 as interest of 6-month repayment period. Total amount of repayment is ₦1,079, monthly payment is ₦179.

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

14. Quick Credit

Quick Credit is a instant online loan in Nigeria that strives to provide borrowers and mobile users with convenient lending and quick loan services.

With simple steps and minimal documentation, users can get qualified loan products which is 100% online process. Once approved, the loan amount will be immediately transferred to the applicant’ s bank account.

Product Features
1.Tenure: From 91 days to 365 days.
2.Loan Amount: From NGN.1,500 to NGN.50,000.
3.The maximum Annual Percentage Rate (APR) is 36%.
4.Origination fee: From 1% to 9%.

You can download the Quick Credit app on Google Play Store by clicking here

15. Branch

Branch International is a financial lending app and an instant online loan in Nigeria that makes it easy for people in Nigeria and some few other countries to get quick loan up to ₦500,000, to transfer money for free, and enjoy investment yields of 20% per annum.

What is required to receive a Branch loan?

Requirements are simple – all you need to apply is your phone number or Facebook account, bank verification number (BVN) and bank account number. They will also request access to the data on your phone in order to build your credit score.

To get more information about Branch, CLICK HERE.

To Apply for their Quick Loan, CLICK HERE

16. EasyCredit

EasyCredit is an instant online loan in Nigeria domiciled on Google Play Store that gives out loan amount between N3,000 to N100,000 to Nigerians without collateral or documents.

– Lending amount: 3,000 NGN – 100,000 NGN with the lending term: 91 days – 365 days
– Interest ranges from 0.1% – 1%, one-time processing fee ranges from 1,256 NGN – 6,000 NGN, and the maximum APR 40%.

You can download the Easy Credit app on Google Play Store by clicking here

Frequently Asked Questions (FAQs)

1. Which is the most reliable loan app in Nigeria?

Carbon is is one of the most reliable loan apps in Nigeria. The loan platform claims to give up to N1m unsecured credit. Carbon, formerly known as Paylater, gives instant loans to its customers and you do not require any collateral, guarantor or documentation to access its loans.

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      to bigger funds. The loan platform is available 24/7. You can apply on weekends and holidays and get instant access to loan credited to your bank account.

2. Is Palmcredit approved by CBN?

Palmcredit is owned and managed by Newedge Finance Limited (RC No: 1585793) and it is fully licensed by the Central Bank of Nigeria (CBN) to operate as a finance company in Nigeria. Palmcredit is CBN-approved.

3. Which app gives loan faster?

QuickCredit. QuickCredit, our second in the list of the 5 best digital lending apps in Nigeria and it gives loan up to N100,000 instantly and fast with no paperwork.

QuickCredit is a simple, technologically deployed digital lending app in Nigeria that provides micro loans for short- terms duration to help meet and cover unexpected emergency expenses and urgent cash needs.

4. Where can I borrow money urgently in Nigeria?

You can borrow money urgently in Nigeria from FairMoney loan app.

FairMoney is the third in our list of 5 best digital lending apps in Nigeria for quick, seamless instant loans. Its procedures and excellent customer service are of great benefits.

This platform gives loans ranging between ₦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%)

5. Where can I borrow money immediately?

You can borrow money immediately from Branch lending platform. The loan app makes it easy for people in Nigeria to get quick and instant access to loan up to ₦500,000, to transfer money for free, and enjoy investment yields of 20% per annum. To download the app from Google Play Store and apply for loan, CLICK HERE.

Do You Need Quick Or Emergency Loan From Reputable Loan Apps In Nigeria?

In need of an instant loan or an emergency cash loan in Nigeria? You can apply through any of the top loan apps in Nigeria and get funded under 3 hours, a few more hours or within 24 days. No hidden charges, no document needed, no collaterals needed with any of our list of reputable loan apps in Nigeria.

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There are many loan apps designed for urgent and emergency cash if you are a Nigerian and live in Nigeria.  An emergency cash loan is available for anyone who has an urgent financial obligation that cannot wait.

Reputable And Reliable Instant Loan Apps In Nigeria To Borrow From

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If you need a reputable and reliable instant loan app in Nigeria, you can apply for quick cash loans from other platforms apart from ALAT By Wema app. However if you are a business owner, you can apply for a bigger loan amounts from Lendigo platform. The funds can be used to grow and expand your business.

Read Also: Top 13 Best Accounting Software For Small Businesses In Nigeria

We should also add that if you are a Nigerian or non Nigerian but resident in United States (USA), you can apply for an emergency cash advance loan even if you have a poor or bad credit rating. Please ensure you avoid like a plague any of the following top 22 loan sharks in Nigeria. They are scam, fraudulent and fake loan apps in Nigeria.

And if you ever planning to study abroad or you have someone who does, then check this out: Top Requirements For Nigerians Planning To Study Abroad In Germany. And if you are a student and need loan desperately even with bad credit, then this is for you. And if you are wondering which option of university to choose to study abroad,
this article will guide you.

If you are running a small or medium scale business in Nigeria and you need affordable and reliable accounting software to automate your financial processes, then this is for you: Top 13 Best Accounting Software For Small Businesses In Nigeria and you can contact these Top 8 Best Accounting Software Companies In Nigeria 2022 to implement it for you. They will also train your staff. The first on the list: Skytrend Consulting Ltd is specially recommended for you.

 

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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.

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