How To Get Loan In Minutes In Nigeria: Best 10 Solid Apps

Where can one get loan in minutes in Nigeria? This is one question that has become increasingly popular amongst citizens of this country. You don’t have to look too far to understand why Nigerians would be looking for fast loan in minutes, desperately.

In 2018, Nigeria surpassed India to become the poverty capital of the world but fortunately for Nigeria, India surpassed it in 2022 as the poverty capital of the world. World Poverty Clock (WPC) statistics show that 39% of the total population in Nigeria is living in extreme poverty. That is a teriffic report.

Loan In Minutes in Nigeria
How To Get Loan In Minutes in Nigeria: See our Top 10 Providers

Most loan apps do not give out loans instantly except you have fulfilled some sort of requirements or you are on a membership plan. So if you are looking to get loan in minutes in Nigeria, you may need to wait a few hours to get your cash into your account except you have all your profile information handy on your smart phone.

Take note that these loan in minutes comes with no need of collateral, documents or physical presence to any office or visitation. You may simply apply right in your home using your mobile phone and if you have your basic information filled, your loan can instantly be transferred into your account.

Summary Of The Top 10 Best Loan In Minutes Apps To Borrow Money In Nigeria in 2022

Find below analysis of ranking of the best 10 lending applications that give loan in minutes in Nigeria. Analyze them carefully and pick your best choice.

Time Rating

Application Name

“Best For” Pick

Playstore Rating

Number of Reviews

#1 Renmoney Loan App  Best for Microfinance Bank Loan 3.3/5 500,000
2 Carbon Loan App Best for Building Credit Score 4.4/5 1 Million
3 Kuda Loan App Best for Investment Services 4.4/5 5 Million
4 Branch Loan App Best Overall for Quick Loan 4.4/5 1 Million
5 FairMoney Loan App Best for Longer Loan Tenure 3.8/5 1 Million
6 Migo Loan App  Best for Good Customer Service 3.3/5 500,000
7 Aella Loan App Best for Customer Data Privacy 4.5/5 1 Million
8 Kiakia Loan App Best for Fast Loan Processing 3.8/5 1 Million
9 Money In Minutes Loan App Best for Loan in few Minutes 4.1/5 100,000
10 Lidya Loan App Best for Small Business Financing 4.5/5 500,000


 Best 10 Platforms To Get A Loan In Minutes in Nigeria

Below are 10 apps that give loan in minutes in Nigeria provided you have fulfilled your requirements and application process. None of them require collateral or documentation or any guarantee.

    1. Renmoney Loan App
    2. Carbon Loan App
    3. Kuda Loan App
    4. Branch Loan App
    5. FairMoney Loan App
    6. Migo Loan App
    7. Aella Credit Loan App
    8. Kiakia Loan App
    9. Money In Minutes Loan App
    10. Lidya Loan App

1. Renmoney

Top on the list of 10 apps that give loan in minutes in Nigeria is Renmoney. This lending platform gives out loans to individuals and small businesses (SMEs) in Nigeria with an interest rate of 2.8% per month. The minimum amount of loans a business can access is 100,000 NGN.

If you earn a salary and you need an urgent loan in Nigeria without documentation, then Renmoney is a leading number in our list.

You can get quick loan in minutes 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.

How To Borrow Money from Renmoney

  • Download the mobile app
  • Share some information about yourself
  • Verify the information you have provided
  • Get money in your bank account once you’re approved

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

 2. Carbon (PayLater)

Formerly known as PayLater, Carbon is our number 2 on our list of loan in minutes in Nigeria. This lending app gives you instant access to loans from N1,500 to as high as N1 million.

Therefore if you need a loan in few minutes, and yo do not have collateral, documentation or guarantors, Carbon, can help you out. With over 40 employees, they have a presence in Nigeria, South Africa, United Kingdom, Ghana and Portugal.

Quick loan from Carbon do not require collateral or guarantors. At your first try, you may not be able to access big cash, you start by borrowing small, and paying back as at when due, then you can have access to bigger funds.

How To Borrow Money from Carbon

  • You need to download the Carbon app.
  • 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

To download the app on Google Play Store CLICK HERE.

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

The loan app platform is available 24/7. You can apply for instant cash on weekends and holidays and get a quick loan.

3. Kuda MFB

With Kuda, an online bank, Nigerians can access loans instantly within minutes from N20,000 to as high as N100,000 but you must pay within 30 days. The amount you can access depends on your transaction volume with Kuda. This is one app you can get a loan in minutes in Nigeria.

Kuda provides instant short-term loan when you need it. With the app, no paperwork, no embarrassment, just 0.3% daily interest is required. Kuda Overdrafts are short-term loans you can take anytime as long as you use your Kuda account regularly.

How To Borrow Money From Kuda

  • Sign up on Kuda and upgrade your account with your BVN (Bank Verification Number) and a valid ID.
  • Use your account regularly – buy airtime, pay bills, make transfers etc.
  • Kuda will automatically offer you an overdraft loan!

4. Branch

With over 10 million downloads on Google Play Store, Branch lending platform is the overall best loan in minute app in Nigeria in 2022. Branch’s 2.5% to 20% monthly interest is the most competitive obtainable in the quick loan industry. The loan app’s APR of 18% to 260% is considerably lower than that of Fairmoney, Carbon, Palmcredit, and other rivals in the mobile loan sector.

The money lending app makes it easy for borrowers to get quick loan of up to ₦500,000, to transfer money for free, and enjoy investment yields of 20% per annum. You can simply apply through the Branch app and get approved in under 24 hours.

Branch don’t charge late fees or rollover fees, nor put restrictions on how you spend your money, and our customer support team is available 24/7. If you ever needed loan apps in Nigeria for instant cash that are reliable, this is one of your best pick.

How to borrow from the Branch instant loan app

Requirements to borrowing money from Branch 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. Simply follow the steps below:

  1. Download Branch on your Android device from the Google Play store.
  2. Fill out the short form and send it in for a rapid evaluation to create your account.
  3. When you fill out an application for a loan, the money will be paid directly to your bank account or mobile money within minutes.
  4. Repay the loan using your smartphone and improve your credit score to access more significant loans in the future.

To Apply for a Loan from Branch, CLICK HERE

5. Fairmoney

Though many regards FairMoney as one of the most reliable loan apps in Nigeria, the lending platform has quite a high interest rate. Some borrowers due to this experiences now refer to FairMoney as a loan shark, warning potential customers to steer clear.

FairMoney loan app  loan application very high interest rate is unfavourable to a large chunk of customers and borrowers.

Neverthess the app is one that gives loan in minutes in Nigeria if your application process is complete. You can borrow as low as N2,500 to as high as N150,000 with an interest rate as high as 28%.

FairMoney digital platform, however has the exceptional quality of granting higher loan tenure than many other similar lending applications, with well over 5 million downloads on Google Play Store. Loan amounts range between ₦1,500 to ₦1,000,000 with repayment periods tenure ranging from 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%).

How to borrow from the Fairmoney instant loan app

  1. Download and install the app using the installation buttons above
  2. To get a loan offer, you’ll need to register using the phone number connected to your BVN and answer a few questions.
  3. If you agree to it, your loan will be sent directly into your bank account of choice.

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

6. Migo

Migo (formerly kwikmoney) is a cloud-based lending platform and the 6th pick on our list of best loan in minutes apps in Nigeria giving out up to N100,000 to N500,000k to N1,000,000 and more for quick emergency loans.

Migo loan amounts range from N10,000 to over N500,000 but limited to N50,000 for a new customer.  You do not need any collateral, guarantor or documentation to request a Migo loan.

All you need is an android phone, your banking details including BVN and a complete online application form.

You can also get a Migo loan by dialing *561# for MTN, 9mobile, and Glo or *554*561# for Airtel. From the list, select “Request Loan” to see a list of your customized loan offers.

7. Aella Credit

Available in Nigeria, the Philippines, and Ghana, Aella Credit helps employees in Nigeria access between N1,500 to N700,000 in a month. Aella loan app gives Nigerians loan in minutes once you complete the application process.

Aella Credit loan app exists to simplify and open up financial access for all in emerging markets by leveraging technology and widespread mobile adoption for Nigerian borrowers. It is the 5th pick on our list of best loan apps in Nigeria for 2020/2021/2022 by loan amount giving out up to N100,000 to N500,000 and higher.

Loan from Aella Credit ranges from ₦1,500 to ₦1,000,000 with a tenor of 60 days to 180 days. Our monthly interest rate ranges from 2% – 20% and APR from 22% – 264%/annum

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

8. KiaKia

KiaKia is a leading Peer-to-Peer lending investment platform and a top money in minutes app.

The owners of this loan service are none other than Sterling Bank. All you need to do is dial *822# to get started or you would visit their official website here. Once registered you can access a loan in minutes in Nigeria.

KiaKia as a licensed lender originates, books, structures, facilitates and funds secured personal and business loans of between N10,000 and N100,000,000 and tenures ranging from 30 days to 24 months via its online platform. To achieve this, the lending platform essentially do what the banks do with less bureaucracy and administrative encumbrances. By lending out people’s funds, Kiakia believes that your money should work for you instead of someone else.

In 2017, Kiakia launched the KiaKia P2P on this principle. They created a peer-to-peer product to aggregate funds of those who have money to invest and lent it out to those who want to borrow it. They may not offer the lounge service and marble foyer of your bank, but exist for people who want rewarding investments. Or a competitive and speedy loan that respects the time value of money for entrepreneurs.

Their slogan is: You fund, we lend, you earn.

Rather than leave funds stashed and idle, you can provide it as capital which KiaKia uses to fund individuals and businesses to earn interests or share profits (if that is what suits your faith). With as little as N50,000 and as high as N25,000,000, you can earn as much as 36% interest depending the tenure election. You can also share profits from the earnings of businesses in selected industries.

9. Money in Minutes — Best for Fast Loan Processing

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022
Money in Minutes –  Best Instant Loan App In Nigeria for fast loan processing in 2022

Money in Minutes is our 9th pick on the list of top loan in minutes in Nigeria and our “best for” fast loan processing in 2022. The platform is managed by MIM Finance Company, a UK-originated lending platform with presence across three (3) continents and Nigeria’s 1st Credit Membership that gives instant cash.

The platform has a robust and wide range of products to help you access affordable finance for various needs and purposes.

Features of Money In Minutes

MIM gives quick loans from ₦25,000 – ₦2m at interest rates between 4% to 30%

Quick access to affordable finance in minutes.

With it flexibility, there is something for everyone.

The platform is built on a positive credit profile with its range of products.

MIM rewards that keep on giving with your account as premium membership

To apply for a Money In Minutes Loan, CLICK HERE

10. Lidya

With an interest rate of up to 3.5% per month, you can borrow as much as N150,000 per month with Lydia.

Lidya loans give you the opportunity to expand your business and generate more income. Lidya provides financing based on the cashflow in your bank account and without collateral. You can access this quick online instant loan by simply signing up for growing your business to the next level.

With Lidya instant online loan, you don’t need to wait for your invoices to get paid in order to pay your expenses or grow your business. The online loan platform provides the option to turn every invoice into a revenue opportunity

The platform also enables you to get instant notifications in your e-mail about the state of your loan process, track your invoices and remind your customers about payments.

How To Borrow Money from Lidya

  • Use your bank statements to get your loans
  • Upload your transaction history. Upload your data quickly and safely in our platform. Your data will be analyzed in 24 hours.
  • Understand your transaction data. Have a record of all your transactions that you can access online, anytime and anywhere.
  • Be qualified for a loan. If your business needs more working capital to grow, this is the premier option for you.
  • Get loans. Get access to funds immediately!

Frequently Asked Questions (FAQs) About Getting A Loan In Minutes In Nigeria From Top Providers

How Can I Get Loan in 5 Minutes?

To get a loan in 5 minutes, you must have been registered on a loan app or provider in Nigeria. Just go over to their “borrow” option and within 5 minutes you should be able to access your funds. A good example is Kuda.

Can I get a Loan with my BVN?

Yes, you can get a loan with your Bank Verification Number (BVN). Most credible loan providers require your BVN before you can access credit.

Where can I borrow money immediately?

You can choose any of the apps we listed above to borrow money immediately.

Can I get loan without debit card?

Yes you can. A debit card is not mandatory condition to obtain a loan. In fact many micro-lending companies and loan apps do not require a debit card or an ATM card for loan. Once you can show that you have the capacity for repayment, either by your credit history, your present salary or your analysis of your bank statement, many of the loan apps will oblige you a loan. All the loan apps stated above will give you credit without a debit card.


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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 (, 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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