Top 18 loan apps in Nigeria 2023

Top 18 loan apps in Nigeria 2023

Are you looking for a fast and convenient way to get an instant loan to solve your business or personal problems? If so, then you are in the right place! There are many loan apps in Nigeria that can provide quick and easy loans to meet your financial needs.

By researching the top 20 loan apps in Nigeria, you can choose the best one that suits your requirements. Once you have selected a loan app, you can receive the money in your bank account within minutes after your loan has been approved.

No matter what financial trouble you’re facing, there is a loan app in Nigeria that can help you get the money you need quickly and conveniently. So, don’t wait any longer – start your search for the perfect loan app today!

Do you have the desire to know more about the best loan apps in Nigeria 2023, which may potentially save you money or assist you in obtaining a quick loan in the event that you have an urgent financial need?

After you have finished reading this post in its entirety, you will be given the option to select an answer from those that are given.

These applications are often considered to be the most trustworthy in Nigeria for obtaining a loan in a short amount of time. However, they are relied upon not just for the loans, but also for the services they offer, the client representatives they employ, and even the platforms on which they operate.

List of Top 18 Best Loan Apps in Nigeria 2023 (Lowest Interest Rates, Fast Approval)

1. Branch.

The Best Mobile Loan Application for Obtaining Low Interest

The branch is a highly regarded loan platform in Nigeria, known for its extremely low interest rates and quick loan approval process.

Branch has simplified the loan application process by reducing the amount of paperwork. In order to apply loan simply download the app, register, apply for a loan, and wait for approval.

The process of creating an account is simple and easy. You just need to provide your phone number, bank details, and national ID number.

This app is very popular because it has been downloaded over 5 million times and it has a high rating of 4.6 stars on Google Playstore. Because of its popularity, it is now one of the top 20 loan apps available in Nigeria.

You can borrow loans via the Branch lending app starting at N1,000 and going as high as N200,000. The interest rate that you will pay back on any money that you borrow will be quite low, but the exact amount will vary depending on the country that you are in.

This lending company’s loans feature interest rates ranging from 3% to 21% every month, with an annual interest rate range of 15% to 34%. There are no fines for late payments or rollovers.

After getting the mobile app from the Play store, all you have to do is download and install it, then follow the on-screen instructions. Check out the Branch review for further details and facts.

2. Carbon

Carbon a financial company in Nigeria is shifting towards becoming a digital banking platform, and is expected to continue being successful in the future. This is because Carbon not only offers access to loans, but also allows for other financial services like investments, fund transfers, airtime purchases, and bill payments, making it a comprehensive financial platform for its users.

If you need a loan, Carbon’s website can provide it for you without requiring any collateral or a guarantor.

If you make all of your payments on time, your credit score will rise over time, which will allow you to receive loans for more significant amounts over time. However, in the beginning, it may be difficult for you to access huge sums.

In addition to this, if the loan is paid back on time, the payback on the interest that was paid will be offered.

Because it also provides you with the ability to monitor your credit straight from the app and because it enables you to conduct all of your business using the app, the Carbon (Peller) Loan App is the best loan app that is currently available in Nigeria for iPhone and Android. As someone who is well versed in technology, I can attest to the fact that the application’s design and programming are of the highest possible caliber.

The application for the loan can be submitted at any time. You may relax completely knowing that your loan application will be completed at any time, even on holidays and weekends, giving you the freedom to do whatever you want without worrying about when it will be done.

3. FairMoney

Fairmoney  one of the top 20 loan app in Nigeria offers quick loans, and it enables you to borrow money in sums ranging from N15,000 to N1,000,000 at interest rates that range from 2.5% to 30% per month, which works out to an annual percentage rate (APR) of 30%. Up to 260%.

FairMoney, which operates in the capacity of a digital bank, makes immediate loans available to borrowers. When utilizing FairMoney, you are not obliged to provide any form of collateral.

You also have the possibility to spread your repayments over a number of different installments with FairMoney, which provides you with more flexibility and makes it easier for you to use the software and services that are offered. If you are consistent in making your credit card payments on time, you will increase the number of possibilities you have to receive additional advantages.

The interest rates offered range anywhere from 2.6% all the way up to 25%, which equates to annual percentage rates that can range anywhere from 35% all the way up to 255%.

In order to get started, all you have to do is input the phone number that is linked to your BVN (an OTP will be sent to the registered number for verification) In the same way that you would do for anyone else, you will be required to submit your contact information. Another application for a loan.

4. Aella Credit

In order to simplify the steps involved in applying for and processing loans, the Aella Credit Loan App takes advantage of recent technological advancements as well as the rising popularity of mobile devices.

Aella Credit distinguishes itself from its rivals by providing an application process that is both quick and simple. This allows applicants to have access to loans more quickly. When an applicant submits their loan request through the mobile app, they are assured to receive the funds in a period of less than five minutes.

You won’t have to worry about anything when you use the Aella Credit App; everything will go well for you! Downloading the app from the Google Play Store is the only thing that is required to use the app and gain fast access to a loan regardless of where you are. After downloading the app, you will be prompted to provide the necessary information.

Ella Credit provides loans with maximum amounts up to one million dollars, interest rates ranging from 6% to 20%, loan durations ranging from 1-3 months, and no fines for late payments or rollovers.

It is a no-brainer to put this option on our list given that it streamlines the process of applying for loans and alleviates any concerns or anxieties that the potential borrower could have in connection with it.

5. QuickCheck loan app

If you have the QuickCheck app loaded on your mobile device and are able to access it at any time, instant loans can be transferred immediately to the bank account you have linked to that app.

On the other hand, due to the fact that this is the first time that you have utilized our services, you are qualified to receive a loan of 10,000 yen with a repayment period of one month.

QuickCheck is an exception to this regulation because it safeguards the personally identifiable information of its customers and under no circumstances does it ever share or reveal that information.

The fact that customers are given the option to select when they will make a payment is one of the aspects that sets this app distinct from similar ones. You are permitted to borrow up to a total of two hundred thousand naira.

6. PalmCredit

Newage Finance Limited is a fintech company based in Nigeria that offers loans and other financial services, such as the PalmCredit lending app.

PalmCredit Loan App should be on the list of the top 20 best instant loan apps in Nigeria because it has fair interest rates and easy terms for paying back loans.

PalmCredit is the next biggest app we’ve talked about so far that lets people borrow money in Nigeria. Through the Palmcredit app, you can get a loan for any amount between N2,000 and N100,000. The least you can borrow is N2,000.


Migo is a platform for embedded lending that enables businesses to offer lines of credit to individual consumers and small businesses directly within their own mobile applications. This service is provided to consumers and small businesses by businesses themselves.

It does not call for any form of paper or collateral to be provided.

Your loan can be obtained in a matter of minutes and without the requirement of submitting any documents. If you pay off your loan early, the interest rate you have will increase, which indicates that you will receive a larger amount of money if you borrow from the platform in the future.

Migo has agreed to provide a loan in the amount of forty billion naira. The interest rate on a Mogo loan might range anywhere from 5% to 15%.

If you are a new customer of Migo, the highest money you may borrow from the company is N50,000. This is despite the fact that the amount you can borrow from Migo ranges from N10,000 to over N450,000.

Your mobile device, information about your bank (such as your bank verification number), and a loan request form that is correctly filled out and submitted are all that is required.

8. Lendigo SME loans

In Nigeria, acquiring a loan for your business may be accomplished in a matter of minutes with the use of this program.

It has been determined that your company is qualified to receive low-interest loans of up to NGN10,000,000, and you are able to borrow this amount.

It is a good tool for applying for start-up loans since it helps small and medium-sized entrepreneurs to gain hassle-free, rapid, and customizable access to finance that is targeted to their individual needs. In addition, it does all of this in a personalized manner.

9. Quick Credit

The mobile banking loan application known as Quick Credit enables users to obtain immediate cash in order to satisfy their monetary and banking requirements.

QuickCredit provides funding of up to 5,000,000 Naira at an interest rate of 1.5% per month, and there are no other hidden fees. Loans of up to three times a person’s monthly salary are made available to wage earners under this program.

The application for a loan through instant credit is a simple process that does not require any documentation to be filled out.

10. MoneyPal

MoneyPal Loan, an app developed by Zedvance Limited, has found success in part due to the relative ease with which accepted borrowers can get their loans deposited into their bank accounts.

Zedvance loans up to N5 million without deposit are available through the Manipal app for a 24-month loan tenure at an APR of 34.8% to 365%

11. Alat By Wema

ALAT is the most useful app for salaried individuals in Nigeria when it comes to obtaining loans.
Allotment by VEMA makes it possible to obtain immediate loans without having to fill out any paperwork or go to a physical banking institution.

When borrowers download the mobile app on either Android or IOS, they are granted access to short-term loans of up to 2,000,000 without being required to put up any collateral.

When you acquire a loan using the Allot platform, you won’t have to go to a regular bank as you would typically have to and you won’t have to submit any paperwork either. After your application for a loan has been evaluated and approved, the money will be wired to your account as quickly as possible, but no later than an hour after that.

12. Access QuickBucks

The application for a fast loan offered by Access Bank is known as QuickBucks. The application can be used by people who are already customers of Access Bank as well as people who do not have an account with the bank.

The application can be used by people who are already customers of Access Bank as well as people who do not have an account with the bank.

When compared to a loan from a bank or a loan secured by the equity in your home, which might take many weeks or even months to process after the application has been submitted, a quick loan is a superior choice.

13. Umba
14. Lidya
15. Access More App
16. Page Financials
17. Money In Minutes Loan App
18. Specta loan app
19. C24 Capital
20. Kuda Loan

It’s possible that the applications for these loans will ask you for information regarding your bank account and BVN. It is imperative that you do not supply any information that is inaccurate. Borrow only the amount of money that you are confident you will be able to repay in order to avoid getting into financial trouble while you are trying to achieve your objective.

An early loan repayment provides a high credit score, which prepares the way for future loan requests to be accepted for greater amounts and at lower interest rates. In addition, an early loan payback reduces the amount of interest paid on the loan.

You should first make sure that you have thoroughly read and understood all of the terms and conditions that are related to any loan application before applying for any type of loan. Your banking information should only be sent for applications for loans that have already been validated.


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