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In this article, I will be reviewing the top 10 legit loan apps in Nigeria available for quick and instant cash loans that can help you sail through until your next payday. These instant lending platforms are always available for your period of loan emergency. When we go through unforeseen circumstances that require superfast credit lending, these reputable financial apps have proven to be of quick help and access to cash to millions of Nigerians.
Nigeria is one of the fastest growing fintech nations in the world with a lot of the best instant loan apps that can guarantee superfast lending, quick approval and lowest interest all within few minutes of application. You can easily run to online lending platforms using your smartphone and acquire a quick loan within 5 minutes.
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Top 10 Loan Apps In Nigeria for Fast Loan Approval And Quick Cash Disbursement in 2023
The top 10 best loan apps in Nigeria in 2023 that are legit with the fastest loan approvals are: Branch Loan App, Carbon Loan App, FairMoney Loan App, Aella Loan App, Umba Loan App, QuickCheck Loan App among others. These apps all have fast loan application processes, lowest interest rates, customer data privacy, and loans are disbursed within few minutes.
The following are the top 10 best online lending platforms and loan apps in Nigeria for superfast quick loans in 2023:
1. Branch Loan App
Branch loan app is one of the best and most legit loan app in Nigeria known for its lowest interest and very quick response to customers’ requests for loans. 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 making it among the top 20 loan apps in Nigeria with over 10 million downloads from Google Playstore sitting on 4.6 stars rating.
Branch lowest interest range of 2.5% to 20% monthly also makes it the most competitive obtainable in the quick loan industry. It gives fastest access to loans and makes it easy for borrowers to get cash credit of up to ₦500,000. A major quality of the Branch app is that it does not charge extra fees on late payments like other loan apps. To access Branch loan, you just need your active phone number, BVN, bank account number, and Facebook account.
2. Carbon Loan App
Carbon, formerly known as Paylater, is another legit loan app in Nigeria best for building credit score. The platform is one of the best for quick lending decisions for its numerous customers. The app disburses cash within few minutes of application without requiring collateral, documentation, or guarantors.
With Carbon, you can borrow up to N1 million (One Million Naira) without any paperwork or physical office visit. At your first try, you may not be able to access big cash, but as you start borrowing small, and paying back as at when due, thus gradually building good credit history which eventually makes you to have access to bigger funds.
3. FairMoney Loan App
FairMoney is another reliable and legit online lender and one of the best loan apps In Nigeria because of its seamless lending procedures, superfast approval and excellent customer service.
Fairmoney loan app is a trusted instant digital lender where you can access fund ranging from N15,000 to N1,000,000 for a monthly interest rate of 2.5% to 30% which translate to an APR of 30% to 260%. The repayment duration of the loan is considerably fair ranging from 61 days to 18 months. The app has the exceptional quality of granting higher loan tenure than many other similar lending applications.
4. Aella Loan App
Aella Credit app is well reputed and reliable loan app in Nigeria for 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 has a rich history of innovation being the first digital lender to pilot in Africa’s biggest market and thus regarded as one of the best loan apps and lending platform in Nigeria that offers loans at low-interest rates and demands no late fees but fast approval processes.
5. Umba Loan App
When it comes to instant loan apps in Nigeria with instant approvals and low interest, Umba loan app can be counted. It’s hosted on both Google Play Store and Apple Store and prides itself as the leading digital bank in Africa. The app allows users to apply, draw down 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.
Umba does not impose late fees or rollover costs, and you may have access to larger loans, reduced rates, and more flexible payment terms as you repay. It uses your phone’s data, including your SMS history, to authenticate your identity and generate a credit score, making obtaining a personal loan straightforward.
6. Renmoney Loan App
With very low interest rates, Renmoney is still one of the best loan apps in Nigeria and also 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.
7. QuickCheck Loan App
QuickCheck is one of the top 10 legit loan apps in Nigeria that have gained a reputation for excellent customer data privacy and a reliable lending platform that uses machine learning to analyze customers’ behavior and immediately evaluate loan applications.
QuickCheck 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. This platform will never share your data or information with a third party. 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 App
Alat by Wema is one of the legit top 10 best loan apps 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 Business App
Lendigo is another trusted and reliable lending platform that prides itself as Nigeria’s No 1 SME Finance Provider. It is the best lending app in Nigeria for small business loans. and also a reputable financial institution for fast and flexible access to working capital loans.
At the moment, Lendigo business app gives the higest loan amount instantly in Nigeria. 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 and per invoice from 4% per month interest rate on borrowed amount. Loan tenure is between 1 – 6 Months.
To borrow money from Lendigo, 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. Quick Credit Loan App
Quick Credit is another legit lending app in Nigeria that is good for instant approval and fast lending. It is regarded as one of the top 10 best loan apps in Nigeria.
With simple steps and minimal documentation, Quick Credit loan applicants 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.
What is the list of fake loan apps in Nigeria?
The most dangerous list of fake loan apps and lending platforms in Nigeria include: Cash Mall, CashLion, FastMoney, LendCash, BorrowNow, LCredit, NairaPlus, 9ja Cash, Cash Wallet, 9Credit, Sokoloan, Palmcash, Ease Cash, ForNaira, KashKash, Rapid Naira, EasyMoni, among others. Many have been scammed and defrauded, and their bank accounts illegally debited by these fraudulent digital lenders. Google have removed most of them from its Play Store.
Which app gives highest loan instantly in Nigeria?
At the moment, Lendigo business app gives the higest loan amount instantly in Nigeria. 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 and per invoice from 4% per month interest rate on borrowed amount. Loan tenure is between 1 – 6 Months.
Which app can borrow me money instantly?
Aella Cedit App is well reputed and reliable loan app in Nigeria because it can borrow you money instantly with no documentation, collateral or paperwork and has immense respect for your data privacy.. The platform allows you to quickly borrow urgent cash loan either for personal or business use and disburses to your bank account immediately.
What Are The Best Loan Apps In Nigeria With Low Interest Rate?
Currently, Branch and Carbon are the best loan apps in Nigeria with low interest rate for an instant loan without extra fees or interest for late payments. Other best loan apps in Nigeria include Renmoney, Umba, Lendigo, Migo loan, Aella Credit, etc. Branch monthly interest rate is 2.5% to 20% monthly interest which translates to an APR of 18% to 260%.
What apps let you borrow money instantly in Nigeria?
In summary the following list of loan apps with low interest can borrow you money instantly in Nigeria with very fast disbursement: Branch Loan app, Carbon (PayLater), Umba, Quick Check, Fairmoney, PalmCredit loan app, Lendigo Business App, Migo, Lidya and Quick Credit (by GTWorld) among other notable and reputable online lending platforms.
The requirements to access this apps’ quick loans are simple. You just need your active phone number, BVN, bank account number, and Facebook account. It has one of the highest ratings and best reviews. You can check them out.
Which app can I get loan now?
With Carbon app, reputed as one of the best for quick lending decisions for its numerous customers, you can get a loan right now. The app disburses cash within few minutes of application without requiring collateral, documentation, or guarantors.
What is the best loan app to borrow money in Nigeria right now?
In a nutshell, the best loan apps to borrow money from in Nigeria in 2022/2023 include the Branch loan app, Carbon loan app, Alat by Wema, Renmoney, Quick Credit App, Aella Credit, Quickcheck, Umba loan app, among other interesting loan apps that give instant lending, quick cash disbirsement and fair credit facilities without documentation or collateral.
The ranking, unique selling point [USP] and download size on Google Play Store for the best loan applications to borrow money in Nigeria is analysed below:
| Rank | Best Loan Application | What Loan App is Best For? | Download Size on Google Play |
|---|---|---|---|
| 1. | Branch Loan App | For Lowest Interest | 10 million+ Downloads |
| 2. | Carbon Loan App | For Building credit score | 1 million+ Downloads |
| 3. | FairMoney Loan App | For Highest Loan Tenure | 5 million+ Downloads |
| 4 | Aella Loan App | For Customer Data Privacy | 1 million+ Downloads |
| 5. | Umba Loan App | For No Late or Rollover Fees | 1 million+ Downloads |
| 6. | Renmoney Loan App | For Microfinance Loan | 500,000+ Downloads |
| 7. | QuickCheck Loan App | For Excellent Customer Service | 1 million+ Downloads |
| 8. | Alat by Wema | For Salary Earners | 1 million+ Downloads |
| 8. | Lendigo Loan App | For Small Business Loan | 500,000+ Downloads |
| 10. | Quick Credit Loan App | For Instant Loan Processing | 500,000+ Downloads |
What are the top 20 loan app in Nigeria?
The following are the top 20 loan apps in Nigeria for instant loan and disbursement: 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 list of registered loan apps in Nigeria in 2023?
The list of registered online lending platforms and loan apps in Nigeria include Branch loan app, Renmoney app, Lendigo App, Aella Loan app, FairMoney Loan app, PalmCredit loan app among others. They are all legit and grant quick loan without exposing customers’ date to the social media.
What are the loan apps in Nigeria for Students?
The best loan applications for students in Nigeria where you can acquire immediate loans for personal, commercial or school purposes include but not limited to: KwikMoney (MIGO), Carbon, Okash, FairMoney, Branch, Aella Credit, PalmCredit, QuickCheck. Because the platforms are online, it means you may apply for these loans using your smartphone from the comfort of your home.
What are the new loan apps in Nigeria?
The new loan apps in Nigeria in 2023 include but not limited to: AllCredit, Express Credit, Fair Loans, FlashNaira, SukFin Loan App, Coolbucks Loan App, C24 Capital, MoneyPal (Zedvance), PalmPay among other fantastic lending platforms that have established their reputable by granting quick and instant loans to customers.
What are the quick loan apps in Nigeria?
There are many quick loan apps in Nigeria today but the following are recommended because they won’t compromise your data to the public nor share your profile message to disgrace you in social media: Branch, Carbon, Aella, FairMoney, QuickCheck, Quick Credit, Alat By Wema and GTB Quick Credit among others.
Conclusion
There are many lending platforms and digital banks that you may want to patronize for your emergency loan. However with the threatening and defamatory messages from many fake loan apps and loan sharks these days, it may be necessary to only borrow money from legit platforms that are customer friendly and won’t compromise your private data to unsolicited public.
With apps like Branch or Carbon, you can loan up to N500,000, which should be enough to cover cash. emergencies. If you need more, you can use the following best lending apps in Nigeria to cover you until your next payday: FairMoney loan app, Aella loan app, Umba loan app, Renmoney loan, Alat By Wema app, Lendigo business app among other interesting lending apps and instant loan platforms.
