Top 10 Best Loan Apps in Nigeria 2024

best loan app in nigeria

last Updated on June 23, 2024

Imagine needing some money quickly for something important. Instead of waiting days or even weeks, you can get cash in just a few minutes with the best loan apps in Nigeria using just your smartphone.There are several loan apps in Nigeria that can help you get the money you need fast, without the hassle of lots of paperwork or needing to provide collateral.

We’ve looked at many loan apps in Nigeria and picked the best ones that offer good rates and terms. These apps are trustworthy, reliable, and easy to use. Here are some of the best loan apps in Nigeria that you can consider when you need a quick loan.

Best Loan Apps in Nigeria with Low Interest


fairmoney loan app

Fairmoney allows you to get a loan in just 5 minutes. You can borrow up to ₦3 million at competitive interest rates. All you need is your BVN and a decent credit history to get started. Sign up today and get your loan instantly.


Carbon Paylater reivew

Carbon is a digital bank in Nigeria where you can get a loan at a good interest rate. The app also offers options for investment, sending and receiving money, paying bills, and more.

To get a loan, download the Carbon app, provide your BVN and some personal information. If your credit history is good, you’ll get your loan approved quickly.



Branch is a reliable app for getting loans via your smartphone. You can borrow between ₦1,000 and ₦1,000,000. This app has no late fees, with monthly interest rates ranging from 3% to 21%. Download the Branch app today and get your loan instantly.


Migo loan code - migo loan repaymentrepayment

Migo, previously known as Kwikmoney, is a top loan app in Nigeria. You can borrow up to ₦500,000 in less than 2 minutes with interest rates between 5% and 15%. Migo has already lent out over ₦40 billion to customers in Nigeria.


Palmcredit loan app - Palcredit ussd code Interest rates

PalmCredit offers instant loans up to ₦300,000 with a loan duration of 91 to 180 days and interest rates between 14% and 24%. Download the PalmCredit app from the Google Play Store to get started.

Alat Loan

alat loan app

Alat, by Wema Bank, is a digital bank that offers instant loans up to ₦2,000,000. Download the Alat app from Google Play or the App Store for more information.


palmpay app

Palmpay allows you to borrow money in under 5 minutes, with loans up to ₦200,000. Interest rates range from 15% to 30%. The app is available for download on Google Play.

Aella App

Aella Loan App

Aella app formerly Aella Credit offers personal loans up to ₦1,000,000 with interest rates between 6% and 20%. Loan tenure is 1 to 3 months. Download the Aella Credit app from Playstore or the App Store to apply.


specta loan

Specta, managed by Sterling Bank, offers personal and business loans up to ₦5,000,000 with no collateral needed. Download the Specta app from Google Play.

Kuda Loan

kuda loan

Kuda Bank is one of the most popular digital banks in Nigeria and it offers users an overdraft (loans) of up to N150,000 at 0.3% daily interest.The loan amount you can get from Kuda can increase based on your usage of the Kuda app.

Key Takeaways

When using these loan apps, always provide accurate information and only borrow what you can repay. Repaying loans on time will improve your credit score and help you get better rates in the future. Make sure to read the terms and conditions before applying, and only use verified loan apps to ensure your personal information is safe.

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