Top 10 loan apps for instant cash in Nigeria

Top 10 loan apps for instant cash in Nigeria

Are you in need of instant cash and you reside in Nigeria? Do you need to meet emergency financial obligations and you cannot wait for the end of the month for your salary, or you are running a business and you need to shore up your working capital?

QUICK LOAN ARENA brings you a comprehensive list of reputable and secured loan apps which can be used to apply for instant cash in Nigeria. All the apps are on Google Play Store and some others are on Apple Apps Store.

Our list of top 10 loan apps includes:

1. Carbon
2. QuickCredit
3. Alat by Wema
4. FairMoney
5. QuickCheck
6. Renmoney
7. PalmCredit
8. FairMoney
9. Money In Minutes
10. Page Financials

 1. Carbon

Carbon Quick online loan app gives up to N1m unsecured

Carbon, formerly known as Paylater, is one of Nigeria’s leading loan apps that gives instant cash to its users. 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.
The loan app platform is available 24/7. You can apply for instant cash on weekends and holidays and get a quick loan.

How To Apply for instant cash from Carbon

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 loan 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.

2. QuickCredit

QuickCredit loan app gives up to N100,000 with no paperwork

QuickCredit is a simple, technologically deployed loan app that gives instant cash. The platform provides micro loans for short- terms duration to help meet and cover unexpected emergency expenses and urgent cash needs.

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 instant cash 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.

How To Apply For QuickCredit Loan

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, your instant cash is 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.

3. ALAT by Wema

ALAT By Wema Bank offers Quick Loan of up to N2,000,000 without Collateral

ALAT offers you easy loan access and instant cash without paperwork or collateral. 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 response time between acceptance of offer and loan disbursement is in minutes. You can now borrow as much as N2,000,000 (Two million naira) without collateral.

How to Apply for ALAT Quick Online Loan:

Login to ALAT or sign-up if you have not
From the menu items, click on ‘’Loans’’
Read through and understands the ALAT disclaimer

Upon successful credit evaluation and checks, a loan offer is presented with duration and applicable interest based on the user’s current risk score

Read through and accept the Terms & Conditions which will contain consent to having your account debited for repayment at loan due date and provide your debit card details to be debited.

Your account will be immediately credited.

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

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

To get more information about ALAT by Wema quick online loan app CLICK HERE.

3. FairMoney

FairMoney is a loan app that gives instant cash in Nigeria.

In the last four years, over 3 million customers have patronised FairMoney for quick online loans.

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%)

Quick 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

Now, the FairMoney app is more than just a loan app. 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).

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

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

5. QuickCheck

QuickCheck is one of our top 10 loan apps that uses machine learning to predict borrower’s behaviour and instantly evaluate loan applications. Its aim at offering digital financial services to help Nigerians get closer to their personal and business goals.

How To Apply For A Loan With QuickCheck Quick Online Loan

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.

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. Renmoney

Renmoney is a leading number in our list of top 10 loan apps in Nigeria that gives instant cash.

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.

The Renmoney app gives you instant access to quick loans, savings and investments with competitive interest rates.

What you get with a Renmoney loan

Fast and convenient loans from ₦6k to ₦6m
Flexible repayments from 3 – 24 months
Money in your bank account in minutes
Lower rates and longer tenure on your next loan
No paperwork
No collateral or guarantor needed
No hidden charges – you always see your loan terms before you commit
We keep it simple, no confusing language
Support team always available to help
Secure processes

The loan process

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

RENMONEY INTEREST RATE AND LOAN REPAYMENT

With Renmoney you can apply for a loan of ₦6,000 – ₦6,000,000 without collateral and repay in 3 -24 months. Monthly interest rates range from 2.4% – 9.33% and the maximum Annual Percentage Rate (APR) is 35.76%. No other fees are charged.

Representative example:

Loan Amount: ₦2,000,000

Loan Tenure: 12 months.

Number of Repayments: 12

Monthly Interest Rate: 2.4%

Monthly repayments: ₦214,667.00

Total amount payable: ₦2,576,000.00

APR: 28.8%.

CONTACT

Email: hello@renmoney.com
Call: 0700 5000 500
Visit: www.renmoney.com
Like on Facebook: https://web.facebook.com/renmoney
Follow on Instagram: https://www.instagram.com/
Follow on Twitter: https://twitter.com/home
Follow on Medium: medium.com/@renmoney
Visit our offices

Ikoyi: 23, Awolowo Road Ikoyi, Lagos, Nigeria
Opebi: Pentagon Plaza, 23 Opebi Road, Ikeja, Lagos, Nigeria
Surulere: Kings Plaza, 80, Adeniran Ogunsanya Street, Surulere, Lagos, Nigeria

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

7.Palmcredit:

One of our top 10 loan apps that gives instant cash up to N300,000

When your financial obligations are overwhelming you and the bills piling up, Palmcredit lending app can provide an instant cash for you. The lending platform says it can provide a quick loan of up to ₦300,000 in less than 3 minutes without any form of collateral.

Palmcredit is another of our top 10 quick loan apps where you can borrow between N2,000 to N300,000 quick loan and if your documentations are complete and accurate, you can get your disbursement within a business day, the platform claims.

Features

1. Palmcredit offers quick loans of 2,000 – 300,000
2. It is a no-collateral loan application
3. Its quick loan can be ready within a day if your documents are ready

Pros

Quick loan within a day

No collateral needed

Rate are flexible and competitive

No need for any physical office visit

Cons

You can’t collect more than N300,000 quick loan

Palmcredit app do misbehave occasionally according to customers’ feedback (see bottom)

Customer service is very poor

Repayment can be cumbersome and sometimes not reflected real time

How Can You Get A Quick Loan From Palmcredit?

1. Download PALMCREDIT APP ON GOOGLE PLAY STORE BY CLICKING HERE.

2. Complete the registration process from your mobile device

3. After completing these two processses, you can proceed to applying for your loan

4. Once you have applied for the loan, you will have to wait to get approval. This usually does not take too long. Just make sure you provided the necessary information correctly.

5. Once you get your approval, you will then receive the loan. You can decide to send the money to your bank account right away.

How To Register For PalmCredit Quick Loan

Here’s how to register successfully and get your loan in seconds using the Palmcredit App:
1. Download PALMCREDIT APP on Google Play store
2. Register with your phone number and a verification code will be sent to the phone number registered.
3. Verify your identity by providing your Name, Surname, BVN, Birthdate, Gender.
4. Can’t remember your BVN?
Not to worry, just dial *565*0# to get your BVN.
5. Keep in mind that your Name arrangement and information must be the same as on your BVN.
6. Set up your ‘Bank Information’
7. Fill in ‘Education and Employment’ with your details
8. Click Submit and you are good to go!

To Register and Apply for PalmCredit quick loan, CLICK HERE

8. FairMoney

FairMoney is one of our best 10 Loan Apps that Gives up to N1,000,000 

FairMoney is a  loan app that lends money 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.

9.Money in Minutes

Money In Minutes is one of our top loan apps, 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 organization code named MIM Finance Company has been enabling lives and businesses for over twenty (20) years now by its quick online loans and other related business support.

With over $10 Billion disbursed over the last two decades, Money In Minutes is in a position to help individuals and businesses to grow. 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.”

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 ONLINE LOAN



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

MIM is focused on more than loans, it aims to enable sustainability and development across Africa.

Tackling poverty by providing easily accessible and affordable finance.

Sustainable energy is the future for Africa, it is powering that.

Rent, Land, and Housing finance for sustainable community development.

Gives ccess to quick and affordable finance to fuel your hustle or attend to urgent needs.

To apply for a Money In Minutes Quick Loan, CLICK HERE

10. Page Financials

Page Financials is a leading lending agency in Nigeria, licensed by the Central Bank of Nigeria (CBN) with over 6 years’ experience in providing cutting edge digital solutions.

The organizations provides instant cash once your loan is approved, it also provides investment and other financial services through its various channels including internet and mobile app platforms. Its outstanding products and services are created to suit the financial requirements of its diverse clientele.

Commencing business in 2014, Page Financials has delivered retail financial services in an unprecedented manner to its esteemed customers.

FEATURES OF PAGE FINANCIALS QUICK ONLINE LOAN

Simple Repayment Terms And Rates
There are no hidden charges, our repayment terms are clear and convenient, and you don’t need to have a cheque book.

Hassle Free
Easy to use tools from anywhere. Instant cash immediately your loan is approved . No gimmicks, confusing terms or hidden charges.

Instant Cash
Once loan is approved, disbursement is quick and instant.

PAGE FINANCIALS SERVICES

Loans
Investments
Payments
Group Loan

REPRESENTATIVE EXAMPLE OF PAGE FINANCIALS LOAN

Loan amount of ₦3,500,000 borrowed for 12 months. Monthly Interest Rate:- 2.99%. No other fees.

Minimum and maximum loan term: 3 – 12 months.

HOW MUCH CAN I BORROW FROM PAGE FINANCIALS

Our minimum loan amount is N100,000 and the upper limit for a new customer is N5, 000, 000. Both depend on borrower’s capacity to repay based on verifiable income level and other selection criteria.

MAKING REPAYMENT OF PAGE FINANCIALS LOAN

You can make repayments via four different channels depending on which is convenient.

Remita: This serves as an automated primary form of repayment towards your existing facility. It is set up by contacting your bank and having them set it up on your behalf.

Direct Debit Mandate (DDM): This is adopted as your primary form of repayment towards your existing facility and is set up as a part of your initial application process via your online profile. NUBAN Cheques:

Your cheques serve as a fall back plan for repayment and will be presented only in cases where we are unable to claim your repayment via Remita or DDM.

Online Payments: You can login to your online profile page on our Secured Online Banking Platform and conveniently make your loan repayment. This payment is reconciled automatically without human interference and can easily be adopted as a primary form of repayment.

HOW TO APPLY FOR PAGE FINANCIALS QUICK ONLINE LOAN

To apply for a Page Financials quick loan, CLICK HERE

To Download and apply through PAGE FINANCIALS APP ON GOOGLE PLAY STORE, CLICK HERE.

To Download and and apply through PAGE FINANCIALS APP ON APP STORE, CLICK HERE.

BECOME QUICK LOAN ARENA BUSINESS PARTNER

Register to become our business partner and enjoy our free advisory and consultancy services on getting a quick loan from our list of accredited lending partners and also guide on the process of loan application.

Disclaimer: Quick Loan Arena is not a loan agency and we do not give out loan to anybody. We however profile and review legitimate and reputable loan agencies and seeks to educate individuals, household and small businesses about loan opportunities to help them make informed decisions and establish their businesses.

Speak with any of our Quick Loan Consultants for more information! Call or Whatsapp +234 (0)803 385 7245.

Do remember to give us a feedback about your quick loan experience after the lending process is executed.

READ ALSO! Google removes LCredit, Rapid Naira, other predatory loan apps from its Play Store

READ ALSO! Got LCredit loan app on your Phone? Here’s why you should uninstall it immediately

READ ALSO! Running from banks, Nigerians face crisis with quick loan sharks On Google Play

READ ALSO! Palmcredit: Get Quick Loan Up To N300,000!

READ ALSO! EasyMoni: Stop sending threats to customers’ contact list: Do your homework if you’re real!

READ ALSO! Instant Cash In Nigeria: Top 30 Quick Online Loan Apps On Google Play 2021

READ ALSO! Quick Online Loans In Nigeria: 20 Platforms Needing No Collateral – Series 1

READ ALSO! Quick Online Loans In Nigeria Without Collateral: 20 Top Platforms – Series 2

READ ALSO! Accounting software expert, Femi Adeoya, takes on small and medium scale businesses

READ ALSO! Money In Minutes: Instant Online Quick Loans In Nigeria Without Documents

READ ALSO! Migo: Quick Online Loans In Nigeria Without Collateral Or Guarantor

READ ALSO! You have a job offer or you are an applicant looking for job, click here or whatsapp 0803 239 3958 to reach us

READ ALSO! How I Was Lured Into Debt Trap With N2.5m Specta Quick Loan From Sterling Bank

READ ALSO! BBNaija Dorathy Launches Lingerie Line, Says Priority Is Making Busty Women Look Good

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About the Author: Femi Adeoya

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