Last Updated on June 7, 2023
Are you in need of quick cash in Nigeria? Maybe you have a medical emergency, a business opportunity or a pressing need that requires urgent attention. Worry no more, as there are several apps to borrow money in Nigeria that can provide you with the funds you need in no time.
In this article, we will explore the best apps to borrow money in Nigeria at low-interest rates. Whether you are looking for short-term loans, personal loans or business loans, these apps have got you covered.
Best App to Borrow Money in Nigeria at Low Interest
1. Carbon


Carbon is one of the best app to borrow money in Nigeria, you can get a Carbon loan of up to ₦1 million Naira and as low as ₦1,500 Naira with a minimum interest rate of 5%.
The loan can be repaid over a period of 3-12 months.
2. Branch


Branch is another app to borrow money in Nigeria, Branch is also available in other countries. Branch loan amounts range from ₦1,000 – ₦200,000. The loans from this lending company have no late/rollover fees, monthly interest is 3% – 21%, and an annual Interest range of 15% – 34%.
You can get a Branch loan without collateral in Nigeria.
3. FairMoney


FairMoney is a fast, reliable and convenient loan app to borrow money in Nigeria.
Nigerians can access Fairmoney loans without collateral. You can borrow up to ₦1,000,000 with interest rates starting at 10%.
4. Renmoney


Renmoney is another legit loan app to borrow money in Nigeria.
Nigerians can get personal loans from Renmoney of up to ₦6 million and a loan tenure of over a period of 3-24 months with a minimum interest rate of 2.76%.
A Renmoney loan is one of the best options for borrowing money in Nigeria.
Checkout: Where to get Loan without BVN in Nigeria
5. KiaKia


KiaKia is a peer-to-peer lending platform that provides quick and easy loans to Nigerians without collateral. With KiaKia, you can borrow up to ₦200,000 with interest rates starting at 5.6%.
5. PalmCredit


PalmCredit is a mobile loan app to borrow money in Nigeria without collateral. With a PalmCredit loan, you can borrow between ₦10,000 to ₦300,000 with daily interest rates for as low as 0.1%.
6. Lidya


Lidya is a lending platform that provides loans to small businesses in Nigeria. With Lidya, you can borrow between N500,000 and N35,500,00 million.
7. Aella Credit


Aella Credit is a top loan app to borrow money in Nigeria from. With this lending company, Nigerians can get collateral-free loans.
With an Aella Credit loan, you can borrow up to ₦1 million with interest rates as high as 20%, and a loan tenure of 1 – 3 months with no late/rollover fees.
8. QuickCheck


QuickCheck is a loan app to borrow money in Nigeria from that only works on Andriod devices.
With a Quickcheck loan you can borrow up to N500,000 Naira without putting up any collateral.
First-time borrowers can get N10,000 Naira for a loan period of 3 months with this loan app in Nigeria.
9. Specta


Specta is a loan app owned by Sterling Bank, it does not require any collateral, guarantor or bank visit to access a loan.
Irrespective of your occupation or bank, you can access a loan amount of up to ₦5,000,000 to meet your financial needs.
Specta loan has a minimum interest rate of 1.75% and a repayment period of 1-4 years.
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10. KwikCash


KwikCash is a legit mobile lending app to borrow money in Nigeria from low-interest rates. This lending platform provides loans to Nigerians without collateral.
With KwikCash, you can borrow up to ₦100,000 with interest rates starting at 15%.
11. Page Financials


Page Financials is a loan app that offers loans to Nigerians without collateral. With Page Financials, you can borrow up to ₦5 million with interest rates starting at 5%.
Page financial loans are disbursed within 24 hours of approval
12. Zedvance


Zedvance is a lending platform that provides personal and business loans to Nigerians. With Zedvance you can access quick loans of up to N5 Million Naira in minutes.
Zedvance offers three loan types; instant loan, salary loans and business loans.
13. Alat


Alat by Wema gives you access to instant loans without paperwork or visiting the bank branch. Even though it’s owned and managed by a bank, you can borrow up to ₦2,000,000 based on certain terms and conditions.
The Alat loan app is available for download on Google Play or the App Store and has loads of information on the Alat website.
14. Migo


Formerly Kwikmoney, Migo loan app is a very popular lending company in Nigeria. You can get a mobile loan in Nigeria of up to N500,000 with Migo in less than 2 minutes in Nigeria. O
ver N40 billion Naira has been borrowed from Migo. The interest rate for a Migo loan is 5 % to 15%.
15. Okash


Remember the popular Opay app, where you could make transactions, buy airtime, pay bills and still book a ride? Okash is a subsidiary of Opay and was once included in the Opay app.
See: How to get Opay POS Machine in Nigeria
Presently, Okash is one of the standalone loan apps in Nigeria, which means you could download and install just this loan app in Nigeria via Playstore.
With an Okash loan, you can get a loan of up to ₦50,000 with no collateral, although, the maximum loan amount you could receive differs. So, if you want more information about this lending platform, please check out the Okash website.
16. Ease Moni


Easemoni is a secure and safe loan app that offers instant loans in Nigeria. You can get an Easemoni loan in a few minutes, you can also cancel the loan application in 24 hours.
Easemoni uses the data from your phone including your financial transaction messages, and your reason for borrowing is combined with your loan repayment history to build an individualised credit score and determine whether you’re eligible for a loan or not.
The interest rate for an Easemoni loan depends on your credit evaluation by the app as well as your product loyalty.
Choosing an App to Borrow Money in Nigeria at Low Interest
Each of these apps has different interest rates, repayment periods, and other features that may make them more suitable for certain borrowers than others. It’s important to do your research and read reviews before deciding which app to use for borrowing money in Nigeria.
These are some of the best apps to borrow money in Nigeria. Each app has its own unique features and benefits, so it is important to compare them before making a decision.
It is also important to read the terms and conditions carefully to understand the interest rates, repayment periods, and other fees associated with the loan. With these apps, Nigerians can now access quick and easy loans without the hassle of traditional lending institutions.
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