30 Best Loan Apps in Nigeria (Tested and Trusted) – 2024
Looking for the Best Loan Apps in Nigeria?
When it comes to loan apps in Nigeria, there is a very small number of loan apps that meet the criteria of being the best.
Others are either scams, fake, or incompetent.
As a businesswoman in Nigeria for the past decade, I recognize the importance of loan apps in both business and life.
In this article, I will reveal the best 30 loan apps that guarantee the best services to meet your needs.
30 Best Loan Apps in Nigeria
1. Fair Money app
The Fair Money app is the best loan app in Nigeria I have had the chance to use.
It offers a reasonable interest rate, and you have the opportunity to extend your loan if you can’t meet the repayment schedule.
The customer care service is top-notch, ensuring you won’t experience any form of harassment or cyberbullying.
Additionally, Fair Money has an affiliate promo that rewards you with a sum of 8750 when you refer somebody.
You will also find the app useful for running all your banking transactions.
2. Branch
Branch is also a great loan app, featuring a seamless process that takes only a couple of minutes to approve your loan.
They have excellent customer service, and the interest rate is very favorable.
From 3% to 23% depending on the credit score of the customer
Their customer service is also top-notch, and you won’t experience harassment if you can’t meet your loan obligations.
Additionally, you can use the Branch app for your banking transactions.
3. Okash
Okash is also one of the most popular loan apps in Nigeria.
It has a seamless loan process that takes only a couple of minutes from registration to disbursement.
It offers great customer service and does not include any form of harassment or cyberbullying.
One of the best features of Okash is its reasonable interest rate, and it can grant you loans for up to a month.
I find it very useful because you can use the loans to the point where you can afford to pay them back.
4. Palm Credit
Palm Credit is a great loan app, although not as great as the other four mentioned above, but it is still a great loan app.
They also have excellent customer service that is very helpful and always willing to answer all your questions.
Palm Credit, like the other four mentioned above, is registered with CBN and has a friendly system that helps defaulters meet their repayment obligations.
The limit range is from 5k-300k you can repay your loan from 31 days to 365 days.
Read also: How To Apply For A Loan From Palm Credit
5. Quick Check
Quick Check is also a great loan app.
All you have to do is complete the registration process, which will only require a couple of minutes of your time.
Your loan will be immediately deposited into your bank account with no glitches, errors, or timeouts.
One of the things I appreciate about this loan app is its quick and responsive customer support.
They are highly efficient and have a system in place to ensure that defaulters are not subjected to abuse or cyberbullying.
Interest rates start at 5% monthly.
6. Renmoney
The Renmoney loan app is also a great choice if you are looking for a secure and easy-to-use loan app with reasonable interest fees and reliable customer service.
You have to be 18+ too. If you are, it’s really simple for you to get a loan with Renmoney
Taking this first 10k and paying it back will give you access to higher loan options.
They also provide excellent customer service and ensure there is no cyber harassment.
7. Carbon
The Carbon Paylater loan is a feature that was launched in 2016 with the aim of making finances available to individuals and business owners who need them.
You have to be 18+ too. If you are, it’s simple for you to get a loan with Carbon.
Download the app on your phone, and give the app permission to access different things like messages, galleries, contacts, and cameras.
With these permissions in place, the next thing would be to seek a loan.
You’ll get a reply in minutes that tells you whether you qualify or not.
Interest Rate: You can borrow a sum of N100k from Carbon and pay back N130k over a three-month period.
Loan Duration: From 14 days to 365 days depending on the loan and the interest rate.
8. Palm Pay loan app
The Palmpay loan app is the first loan app that I saw on Twitter that was used for a joke.
Today PalmPay has gone on to win the hearts of many Nigerians and is perhaps one of the best loan apps in Nigeria. if you are looking for where to get a loan of 200k, it is recommended.
As a first-timer, Palm Pay may offer you a loan of 10k only.
This is to test your creditworthiness.
Taking this first 10k and paying it back will give you access to higher loan options.
As always, what determines how much you’ll be offered comes down to your credit score.
Interest Rate: The interest rate of palm pay is high for first-time loaners.
It gets lower as you do business with them. It ranges from 15% to 30%.
Loan Duration: Much like their interest rate, when you’re taking a loan for the first time you may get only 14 days.
But as you keep working together it gets better.
For a loan of N200k, you’ll be given a repayment duration of 365+ days.
9. Kuda
Kuda is also among the best loan apps in Nigeria.
They have excellent customer service and a seamless operating system.
The downside of Kuda microfinance is that you don’t get instant loans.
You must have used the app consistently for a period of time and built a good credit score before you can borrow money from Kuda.
Their customer service is exceptional.
An interest rate of 0.3% daily
Loan tenure up to 90 days
Read also: 5 Best Tips and Apps to Collect a 500K Loan in Nigeria
10. Lendigo App
The Lendigo Loan app is owned by Benjamin Benaim who is also the owner of the Quick Check loan app.
With Benjamin Benaim as Provider of the Lendigo App, it’s almost guaranteed this is a good app.
If your loan application gets approved, The Lendigo App takes 5-6 working days for disbursement.
The Lendigo app is the only loan app in this list that can offer you a loan of up to N10 million.
But this amount depends on your credit score.
If you have a registered business, then your chances are even better.
- Interest Rates: The Lendigo loan app has different interest rates for different people.
For SMEs: The interest rate is 4.75% per year.
For POS Agents: The interest rate starts at 4.75% per year.
For Distributors: The interest rate is 3.5% per year.
For E-commerce Merchants: The interest rate is 4% per year.
11. Xcross cash
This app is another excellent loan application with numerous benefits.
It features a flexible system that offers various ways to increase your credit limit and provides more repayment term options.
However, achieving these benefits is only possible if you maintain a great track record and consistently make payments on time.
Interest rate of 3% to 20%.
This app has a loan tenure of about 31- 18p days.
12. Icredit
Icredit is another outstanding online platform, serving as a reputable credit company with all the advantages of a top-tier loan application.
It offers a wide range of repayment terms, spanning from 91 days to 365 days.
With interest rate of about 2% to 18%
To qualify for their services, individuals must be between the ages of 20 and 65.
13. Umba
Umba is a loan app that’s great because it’s quick, easy to use on your phone, and doesn’t need lots of papers.
It helps people get money when they need it fast.
You can pick how much money you want and when to pay it back.
They also clearly tell you how much it costs.
Plus, they’re good at helping when you have questions.
If you want to apply for an Umba loan you must be up to 20 years of age.
14. Quick Box
Quick Box is not just any loan app.
It’s your gateway to financial freedom Proudly brought to you by Access Bank, this outstanding loan app offers you a seamless borrowing experience like no other.
Not only do you gain access to all the essential features you’d expect, but you also get to explore a world of convenience with supermarket and bank branches at your fingertips.
Quick Box boasts competitive interest rates of about 2% to 17%
Loan amount ranging from a handy 5,000 to a whopping 300,000.
15. Big Loan
Big Loan is also a great loan app.
Once you apply, you can keep applying without hassles.
It does not waste time depositing money into your account, not in the least.
Additionally, it offers a great feature for taking out a loan in the future, even if you haven’t finished paying off your last loan.
You’ll experience a high level of trust as a customer if you repay your loan on time.
The interest rate ranges from 0.75% to 1.9%. Per month.
16. Fair Credit
This is also another great loan app.
The interface is easy to navigate, and the app is fast and excellent.
However, disbursing loans usually takes a bit of time.
The loan amount ranges from 2,000 to 1,000,000.
The good news is that with a good credit score, you will get good loan offers.
But you just have to be able to meet the deadline to reap even more benefits from the app.
17. Sure Credit
Sure Credit is also a great loan app.
It boasts a user-friendly interface and encompasses all the components of a good loan app.
With a repayment period of 91 days to 365 days,
It features a fast disbursement system.
However, what I didn’t like about this app is that it’s a bit glitchy.
Nevertheless, it has a very fast and reliable customer service that will assist you as soon as possible to rectify any issues
18. Irorun
This is another fantastic loan app.
In Yoruba, it’s known for its excellent customer service.
It offers a user-friendly interface and reasonable interest rates of 3-5% per month.
The registration process is straightforward, and when it comes to disbursement, this app wastes no time at all
19. We Credit
We Credit appears to be a loan app that offers a straightforward and easy process for obtaining loans.
It seems to emphasize simplicity, as it only requires your BVN (Bank Verification Number) for loan approval.
It has a monthly interest of 2% to 24% depending on how much you are going for.
Loan amounts range from 2k to 1m.
If you have specific questions or need more information about this app, you can go to the Play Store and read some more reviews.
20. P2VEST
This is another loan app that is good but not exceptionally great.
P2 Vest also offers great loans based on your credit score.
You must be at least 18 years old to qualify, and the loan tenure ranges from 30 to 160 days.
This loan app also has an interest rate of 2% per month, which can go as high as 20% per month.
You can obtain loans ranging in value from 5,000 to 100,000.
21. Ajelone
This is another fantastic option that provides reasonable loan amounts for those with a strong credit score.
It offers a 100% online loan process with minimal interest.
You’ll find it handy for personal emergencies, as it offers quick approval and instant access to cash.
The app is secure and ensures your safety, with loan terms ranging from 30 days to 180 days
22. True Naira
True Naira is also a great loan app That works well in Nigeria.
This loan app is also great with top-notch customer service which is prompt to answer questions and resolve any problems you have.
You will also find its user interface very easy to navigate and that is why it’s so great.
This app also has a loan term ranging from 31 days to 180 days
With an interest rate of 2% to 26%
23. NewCredit
This platform is another fantastic option for individuals seeking quick and hassle-free loans.
The only requirement is that you must be at least 18 years old and have both a Nin and BVN to qualify for a loan.
The loan offer typically lasts for a minimum duration of 31-180 days
You can borrow anywhere from 10,000 to 300,000 naira.
It provides a secure and convenient way to obtain a loan without the need for collateral.
24. Kaashkash
This is another excellent loan app.
This app is great because it combines all the benefits of a top-notch loan app into one.
It is easy to secure a safe loan from this platform.
It offers an annual percentage rate ranging from 12% to 34% per year.
You can choose a loan duration of approximately 91 days to 365 days.
25. Sure Credit
Sure Credit is also a great loan app
Sure Credit has an easy-to-use interface and offers loans ranging from 10k to 300k.
To qualify for the best offers, you must have a great credit score, which comes with annual interest rates between 11% and 19%.
Additionally, you must be between 18 and 23 years old to be eligible for this offer.
26. Migo Laon App
The Migo Laon app is another incredible application.
Initially dedicated solely to utility bill payments, it has now expanded into various areas of finance.
Additionally, it offers several benefits, including loan durations ranging from 31 to 91 days.
The app boasts very reasonable interest rates and demonstrates 100% efficiency in both registration and disbursement processes.
27. Yes Credit Laon
This is another excellent credit spot.
However, it also comes with its own set of glitches.
Nevertheless, it boasts a friendly user interface with a loan range of 5k to 150k and offers interest rates ranging from 4.5% to 35%.
The loan tenure is approximately 60 to 180 days.
You must be at least 21 years of age to apply for a loan.
28. Black Cash
This is another excellent platform for online loans.
The app is available on both iOS and the Apple App Store.
With a monthly interest rate ranging from 3% to 10% and a loan duration of approximately 30 to 189 days, this is a platform worth considering.
Read also: Easy ways to get a loan of 50k in Nigeria
29. Alat
This is another fantastic platform for online loans, and the best part is that ALAT approves your loan in less than 24 hours.
You can borrow amounts starting from 50,000 and above, and what’s even better is the reasonable loan tenure of up to 6 months with an interest rate of around 2%.
It’s a great option.
30. Lendingo
This is another great loan app.
It doesn’t waste a lot of time from registration to disbursement.
This app is almost perfect with its seamless process and easy-to-use interface.
It offers a loan tenure of 31 to 180 days with interest rates ranging from 4% to 8%, making it a great option for someone looking for a quick, safe, and reliable loan solution.
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