Top 5 New Loan Apps In Nigeria 2022

Today QUICK LOAN ARENA brings you a list of top 5 new loan apps in Nigeria 2022 which we categorise as the leading new lending platforms so far so good for the new year. We recognise everyday new loan apps are developed and hosted on both Google Play Store and Apps Store and there is always likelihood to test the effectiveness, reputation and integrity of the new ones. We have simplified your test and made the selection easy.

We are also aware that emergencies do occur from day to day for many people whether as salary earners or business owners and we recognise your need to access quick and instant lending from emerging new loan apps in Nigeria.

Let us now address the list of the top best new loan apps in Nigeria for 2022. We in keeping abreast with the loan app industry have therefore done our careful research and found out a list of the top 5 new loan apps in Nigeria 2022. The list are as below:

  1. Fair Loans
  2. Express Loans
  3. EasyNaira
  4. Fair Credit
  5. FlashNaira

Let us now go into details and analyse each of these new loan apps in Nigeria one after the other.

  1. Fair Loans

Fair Loans is different from the very popular FairMoney Loan App we have all been used to. Fair Loans is one of the new loan apps in Nigeria for 2022 and it’s our first in the list.

Whatever your needs are, with Fair loans it’s easy to apply for a small cash loan from N5000 to N30,000.

The new loan app claims its platform gives out easy, fast and convenient  loan as quickly as possible. It adds that its application process is simple and hassle-free, with no paperwork!

Get loan in 3 Easy Steps.

1. Create your account
2. Confirm Identification Details
3. Apply your loan

1. Loan Amount: 5,000 – 30,000 pesos.
2. Loan Term: 90 up to 365 days (3 – 12 Months)
3. Loan Interest rate: Flexible loan rates option, Maximum APR 24% pa
4. Transaction fee: zero

Minimum repayment period is 65 days while the maximum repayment period is 120 days, with a maximum APR is 24% per year. Fair Loans claims there are no hidden transaction fees. This makes it easy to know exactly what you’re signing up for.

Fair Loans is awesome and here is why;

Instant access to loans sent straight to your mobile phone.
You can borrow more than 1 loan at a time. *As long as you are within your loan limit.*
Ability to sort out emergencies when they arise no matter where you are.
Your information is secure and is not shared with third parties.
Lowest interest rate in the market.
It is easy to use.

Example 1: The principal amount is PHP 5,000 and the interest rate is 24%, then the full amount will be paid at the expiration date: 5.000 * 24% + 5.000 = 6.200.

Fair Loans Data Privacy Policy

We take your privacy very seriously and we will never share your personal information with anyone except with strict permission from you. When you download the App, we will ask you for permissions to use your phone’s data such as SMS history and other information. This information will strictly be used to verify your identity and create a credit score.



To Download Fair Loans On GooglePlay Store, CLICK HERE.

2. Express Loans

With Express Loans, it might only take a few minutes to apply and receive approval. The cash advance application process is quick and simple – upload National I.D and follow instructions to complete the procedure. Once the application is approved, money can be instantly transferred to the bank account. It’s the number 2 in our list of best new loan apps in Nigeria in 2022.

Express Loan: Best and New Personal Loan App for Everyone

Even if people don’t have a bank account or a credit card, Express Loans makes instant loans possible for everyone. Powered by AI technology and cloud computing, Express Loans conducts sophisticated credit check and risk management while provides people a simple money lending user journey.

Features of Express Loans

No Hidden Fees
Interest Rate: 34.0% per annum.
Processing Fees: 4.9%. The fees will be deducted from the credits.
Loan period: we will require the repayment from 90 days to 180 days.
Here is an example, if a user takes the principal amount of KSH 1500 payable in 3 months, interest is KSH 121.5 and the processing fee is KSH 73.5. You will receive KSH 1426.5, while the total amount due is KSH 1621.5.

Get an instant loan in 5 simple steps:

● Download our Express Loans app for FREE now!
● Simple & fast advance loans application process. Apply money loans based on the amount you need.
● Provide basic information and bank details
● Submit an application for approval
● The approved amount will be credited into account within 3 working days

Express Loans Contact
Please let us know if you have problems when using Express Loans app by sending us an email If you have any other questions, please let us know by

To Download Express Loans On GooglePlay Store, CLICK HERE. 

3. EasyNaira

EasyNaira is a Personal Loan Platform for Nigerian mobile users It’s worth trying out, while we expect your review and feedback. It is number 3 on our list of top new loan apps for 2022.
EasyNaira claims it can meeWe can meet customers’ needs for 24/7 and completely online. The application process takes just a few steps with minimal documentation and the approved loan amount will be immediately transferred to your applicant’s bank account.

Loan Products:

Loan period: the loan range is from 91 days to 365 days.
Loan amount: the loan amount is from NGN 30,000 to NGN 300,000.
Loan interest: the interest range is from 2.4% – 12% with an equivalent monthly interest of 0.4% – 2% and APR of 4.8% – 24%.

Loan application steps:

1.Register with your phone number
2.Submit your information
3.Get credit
4.Add bank account
5.Get moneyContact Us
For more information, contents or suggestions:
– Address:Dep.of Trade.Room 309 Federal Ministry of Industry.Old Federal Secretariat.Area 1.Garki.Abuja.FCT.Nigeria.

To Download EasyNaira On GooglePlay Store, CLICK HERE

4. Fair Credit

Fair Credit is a top selection in our list of best new loan apps in Nigeria 2022. Its loan amounts range between ₦1,500 to ₦1,000,000 with repayment periods from 95 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 28% to 32%)

Fair Credit Loan characteristics

Loan amount from ₦1,500 to ₦1,000,000
Repayment periods from 95 days to 18 months
APR from 26% to 32% per annum
Interest discounts of up to 90% for early repayments
No hidden fees

Example of a 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: 32% APR

Now, the app is more than just a loan app. Fair Credit is owned by 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).

Features of Fair Credit

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.Eligibility:1. Nigeria Resident.
2. 20-55 years old.
3. Source of a monthly income.
To Download FairCredit On GooglePlay Store, CLICK HERE.

5. FlashNaira

FlashNaira is a digital lending platform and no 5 on our list of top new loan apps in Nigeria for instant cash.

The Loan Platform provides Nigerian mobile users with convenient lending services with the claim that users can get qualified loan products which is 100% online process.

FlashNaira Product Features

1.High Loans Amount: NGN 2,000 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

WHO can apply

1.18 years or above
2.With regular source of income

Interest, Penalty

1.The Annual Percentage Rate (APR) is 10%~25%
2.No membership fees No Origination Fees No Rollover Charge No Transaction Fees
3.Penalty is charged only when someone delays their scheduled payment.

How to APPLY

1.Download FlashNaira 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.

Data Privacy Policy of FlashNaira

Loan application process is absolutely secure and safe. FlashNaira promises that never share customer’s information to anyone without consent.

Contact us:
Customer Service Email:
Address: No 30 Adeola Odeku VI, Lagos

To Download FlashNaira On GooglePlay Store, 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 (, 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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