Best loan apps in Nigeria

Are you a student, business man or woman, farmer who is in need of urgent money to pay medical bills, electric bill, to start up a business or to solve a problem? Have you been searching for the best Loan App in Nigeria? If you have been searching for any related questions above then make sure you read this article to the end because we will be looking for the best loan apps in Nigeria.

There are numerous loan apps that are being launched on the internet each passing day in Nigeria that are open to lend instant loans. Some can only takes only minutes while some take like an hour and few requirements to enable you get loans from these loan apps. Before you can even start, you must have the app installed on your smartphone through which you can apply for loan.

In this article, I’ll be sharing with you the most updated, tested and best loan app in Nigeria. The ones you can easily use to apply for loans in minutes without delay. We have already compiled the requirements needed to enable you apply for loans on these loan apps which you can find them in this article, we will also be looking at the repayment rate and all that you need to know when applying for a loan from each loan app.

Even students can also use these loan apps which will be explained properly in this article to get with fund for personal use and also for commercial purposes as the case may be. When applying for loan from these loan apps does not require submission of any documents to anyone or going to see anybody in an office. All you need is just your smartphone, internet connection then you are good to go with few other requirements. You may apply for loans by with the help of a smartphone from the comfort of your home.

Currently in Nigeria, you can also get loans from bank or even from friends aside from getting loan from loan app. But loans from banks and friends is not really easy to get when it comes to the requirements and the efforts needed from you before you can finally get the loan. To complete the loan application process at bank might take you a longer period of time which you need to wait.

However, as technology is getting advanced everyday, you can possibly obtain mobile loans to use for business development, or meet personal and school needs, this can be done within 24 hours with the help of a smartphone and an internet connection.

This makes it the best way of getting loan because of its ease of access without stress.

Now let’s see the list of best loan apps in Nigeria. But we need to know typically the definition of what Loan app is.

What is Loan App?

Loan app is a mobile app built to enable people apply for loan without stress like going to the bank and submitting papers. If you are a student who need money to pay dues or you need loan to help you pay a bill or finance a project. You can possibly get loan online through any of the loan apps as there are so many loan apps laughed on the internet for Nigerians.

How do loan apps work?

The loan app can only work when you download it and getting the app installed on your smart phone. After the app being installed on your phone, you will need to create an account on the app. Once you have created an account with them, go and apply for loan through the loan section, then submit the informations you have provided about your self as well as other required documents. Entern the amount you want to apply for and finally make sure you go through the loan terms and conditions, agree with them and you’re good to go.

Some of the requirements that are needed about your details which you need to provide when applying for loan include your full name, Social Security number, contact information, annual income and the amount you want to loan.

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One of the factors that can hinder you from huge amount of money when applying for loan from most loan apps is credit scores. It can affect the interest rate. If you credit score is strong enough that means you have lower risk and that you will get paid on time without delay.

So when the loan application has been approved on the app, the money will automatically drop to your account in due time.

Now that you have known how these loan apps work, let’s go to the section where you will also know which of these loan apps are the best in Nigeria. Like I said earlier, this article will help you to know the best loan apps in Nigeria.

What are the best Loan Apps in Nigeria?

Below is the list of the best loan apps in Nigeria, tested and trusted for the suitable of instant loans or urgent fund.

1. Carbon

Carbon is a digital bank built to provide with people access to get loans and it’s also be used to send money, pay bills for your services, invest, recharge any Nigerian network and many more. Carbon has two ways through which you can easily get loan from, it includes website and a mobile app.

If you want to apply for loan on this app, you will first of all download the mobile app from Google play store for Android users while iOS users can download from Apple store install the app on your phone.

If you already have an account with them then tap on sign up button. Input your personal details correctly and submit with other required information such as your BVN. Go to the loan section and enter the loan amount you want. All the informations you have submitted will be accepted by Carbon and computer it then after a given period of time Carbon will give you feed back.

Be you a student, an entrepreneur or an employee, you are eligible to get loan from carbon. Without stress and at the comfort of your home you’ll get the money directly to your account within few minutes.

Carbon do NOT need any collateral or bringing a guarantor. Make sure you input your details correctly and submit the necessary requirements and you are eligible already. The most sweetest thing about this carbon is that you can apply for loan at anytime any day. Carbon is always there to give you what you want when you need it and the processing of loan is quick. Some of the good qualities of carbon as a loan lender app in Nigeria is that;

  • They facilitate easy credit availability.
  • They do not require collateral or guarantors
  • It is pretty easy to apply for a loan

However, bear in mind that you need to start with certain amount and make sure you payback on time to boost your chances when next you want to apply for loan.

2. FairMoney Loan app

FairMoney loan app is one of the best loan apps in Nigeria. It is well secured, easier and reliable means of getting instant loans. You will need to download the app from play store first and install it on your smart phone then commence your loan application process. To start, just register with the phone number you used with your BVN then an OTP will be sent automatically to the registered number, this is for verification purpose only, then you’re good to go.

You will need to fill in your contact information correctly, as with any other loan application, also make sure you provide any other details asked for to enable you get your cash deposited into your account. Getting loans and paying bills on Fairmoney is fast and easy.

With FairMoney, you may apply for loans up to N150,000, without submitting any documentation, or collateral to anybody. It is completely stress-free to use. Fairmoney also allows you to stretch your repayments across numerous instalments you will also be given more flexibility and making the software and services very easy to use. You can only get high chances of receiving extra advantages when you are able to pay back your loan on time.

In addition to this, you can also use the app to pay bills, buy airtime at a discount of up to 5% and many other benefits.

Bear it in mind that Fairmoney loan app features no late/rollover penalties. The monthly interest rates are ranging from 3% to 21%, while the yearly interest rates are ranging from 15% to 34%.

3. Page Financials

Page Financials is a CBN-licensed financial firm built to provides with Nigerians personal loans.

Page Financials states that getting a loan from them is very simple and reliable and that they also employ a flexible paperwork process.

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The amount of loan that can be obtained from this loan is ranging from N100,000 to N5,000,000, and the monthly interest rates is ranging from 3.76 per cent to 120 per cent. While the annual percentage rates is ranging from 29 per cent to 120 per cent.

To pay back, you can use the following methods such as manually entered method or charged through the auto-debit service method.

4. Aella Credit

Applying for loan on Aella credit is quite easier by downloading the loan app from Google play store, installing the app and creating an account. After completing these processes, commence the loan application process. Aella Credit loan app is one of the best loan app in Nigeria. It offers loans to Nigerians up to 1,000,000 with interest rates ranging from 6% to 20%.

Make sure you input all the necessary information required to use the app, and then you are already getting close to the loan in no time. Also make sure you input your details correctly and they must be corresponded to all the informations you provide. If you miss any details then you may not be eligible to get loan from this app with incorrect details.

Their customer service is very excellent and the customer care service is available to serve you better and ready to respond to your questions at any day at any time. The loan duration is ranging from 1 to 3 months with no late or rollover penalties.

5. PalmCredit

PalmCredit is one of the best and reliable loan apps in Nigeria. Palmcredit allows you to obtain loan as low as N2,000 and you can also obtain loan as much as N100,000 getting it paid to your account from the app without stress. All you need to do is to download the app from Google play store, install the app on your smart phone to get started.

The loans interest rates ranges from 14% to 24% and within 91 to 180 days. What this means is that if you apply for a loan of N100,000 for 6 months, the total amount you are to payback will be N124,000.

Getting instant online loans on Palmcredit is very easy with no stress attached. You have the power to secure the loan you are applying for with just a few simple actions.

6. SokoLoan

SokoLoan is a microfinance institution built to provide with people chances to access financial services. They offer financial services to low-income businesses, loan to pay bills, loan to students, and others.

SokoLoan app is available to download on Google play store and is easy-to-use. This app can be used at anytime of the day and at anywhere to get loans. But the sooner you pay back your loan, the higher the limit of your loan will be.

7. KiaKia Loan

KiaKia is a name derived from yourba language which literally means “fast fast” in English Language (Nigeria). What this implies is that getting a loan from KiaKia Loan is faster and easier.

You can get loan from KiaKia Loan through their proprietors at Sterling Bank, or you can simply dial *822# on your mobile phone. The app is available to download on Google play store. Or you can even visit their website ( to apply for loan at the comfort of your home.

8. CreditVille

This is another best and reliable loan app in Nigeria. CreditVille is just another money lending application for working and students. CreditVille provides with people cash loans to any address immediate demand.

CreditVille loan offers ranging from N100,000 to N4,000,000 and can be paid back within 8 months without collateral.

To apply CreditVille loan, you need to visit their official website, navigate to the registeration page and create an account. Then start the loan application process. When you meet the necessary requirements, you are eligible for payment.

9. Blocka Cash

Blocka Cash offers instant loans for people who seek for loan online in Nigeria. Blocka Cash can be accessed with the use of smart phone through Google Playstore and iPhone through the Apple App Store.

People who apply for loan on Blocka can get as little as N5,000 and as much as N50,000, although it depends on your credit score.

However, before you can participate or apply for loan on this loan app, you should be 21 years old and above. The requirements needed when applying for Blocka Cash loan include; a valid government ID.

10. Lidya

Lidya is a loan application for Nigerians that lend money to people fast online, they offer loan to small scale enterprise and also medium scale enterprise. The loan you can obtain from this loan app ranging from N500 to N50,000.

Lydia evaluates the capital adequacy of anyone, it could be individual or company looking a loan online. This evaluation is being used to provide a credit score that is extremely good to each organization. This simply means that students who are seeking for loan or applying for loan on Lidya, must be a business owner.

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Lydia loan app makes loans available to anyone within 24 hours. This totally depends on the amount you apply for. Bear in mind that you can not obtain multiple loans at once.

Repayment methods; you can pay off loan through debit cards or direct deposit.

11. QuickCheck

Quickcheck is another reliable loan app built to help people with provision of financial service and also help people who to achieve business goals. Get this QuickCheck app installed on your phone, and apply for instant loans and get paid into your bank account within minutes at any time of day or night.

To get started, download the app from Google play store, install the app and create an account with your valid details. You can obtain loans from QuickCheck loan app without collateral.

When you create the account, Quickcheck will then examine your credit score using an algorithm. After that, they will determine the amount you are eligible for.

12. Alat

Alat is another loan lender owned by Wema bank that provides with people access to rapid loans. Alat doesn’t require any documentation from you or a visit to a bank.

For that fact that Alat is owned and managed by Wema bank, you can possibly borrow loan up to N2,000,000, although it subjects to specific restrictions and limitations.

13. Okash

Okash is an Opay subsidiary. Okash has an app built to enable people carry out transactions, pay bills,
purchase airtime and lots more.

Okash is one of the independent loan application in Nigeria, this means that you can get the app from Google Playstore for Android users, and App Store for iOS users, input your details as required to utilize the app, this can grant you the access to instant loans.

Okash offers you access to get loan up to to  N50,000 without collateral, but the maximum loan amount varies. The flexible payback is ranging from 91 days to 365 days.

14. KwikMoney (MIGO)

With KwikMoney, you can easily apply and get loans without using the app. You can also obtain loans when you visit their official KwikMoney website as well as the app. When you visit their website @, complete the loan within few minutes with just your phone number, the money will be deposited instantly into your bank account.
The app available for download on Google play store.

KwikMoney doesn’t require any proof from you before your loans approved within short period of time. If you pay off your loan quick, your interest rate increases and you can borrow the next time you use the site.

KwikMoney doesn’t charge any interest from your if you pay back the loan on time like within the 14th day after you receive the money.

15. Branch loan app

Branch loan app is also another reliable and best loan platform in Nigeria where students or even employee can obtain instant loans. The sweetest thing about branch loan is that it don’t only operates in Nigeria but also accept membership from Kenya, Mexico, India. This can obviously proves the level of trust about this Branch worldwide.

Obtaining loan from Branch pretty easy and simple to carry out. You can apply for loan at the comfort of your home without stress attached.

To get started with Branch, all you need to do is to download the app on Google play store, get it installed and create an account. Start the loan application process by providing your details as required and submit with other informations. You can get loans as low as N1000 and as much as N200,000 by the help of a smartphone through the Branch loan app.

Branch loan app is quick, reliable and easy method to get instant loan online, even in emergency situations. The amount of money you borrow varies the amount you will pay back depending your location (Country) and the amount of loan.

Note: Ensure you always pay attention to loan terms such as interest rates and fees when you are applying for loan. Also check any prepayment penalty for paying off your loan late after the due date before applying for any loan.


Many of the best loan apps in Nigeria listed above are open to help employees who needs emergency money, also for entrepreneurs, students who need money for school dues and business owners.

If you want to apply for loan, this first thing to do is to go to Google play store and download the official app you want to get loan from, get the app installed, create account and apply for the loan. You can also get the loan without app by visiting their official website to apply for loan. You can also know more about the loan app such as how it works, the repayment method and ever other information about the company.

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