Best Nigeria Loan App: Top Nigerian Loan Apps 2023

Best Nigeria loan app - New loan apps in Nigeria

Updated on August 2, 2023

Are you in need of quick cash to cover unexpected expenses or fund your dream project? Look no further! In this fast-paced digital age, accessing loans in Nigeria has never been easier, thanks to the Best Nigeria Loan App.

Whether it’s for personal use, business ventures, or emergency situations, these user-friendly apps offer a seamless borrowing experience right at your fingertips.

You may be wondering how to get quick loans, with no collateral and minimal interest rate, from the comfort of your home or office. There is a Nigerian loan app available for anyone seeking any type of loan offer at different interest rates. While some rates are friendly, others are not exactly friendly.

I remember back then when people had to queue for a loan application, even when it was just a 5-digit figure 😥.

Sometimes the loan process could take up to a month or even more. But thanks to technology😊, we can now get mobile loans to sort out personal and business needs using a smartphone, a mobile app and an internet connection within 24 hours. 

Say goodbye to lengthy paperwork, never-ending queues, and endless waiting periods. With just a few taps on your smartphone, you can explore a variety of loan options tailored to your needs.

But wait, there’s more! These apps not only offer convenience but also competitive interest rates and flexible repayment terms. So, why stress when you can simplify your financial journey with the Best Nigeria Loan App? Let’s dive in and discover how these apps can be your ultimate financial lifeline.

So, in no particular order, let’s review the best Nigeria loan app for you in our current dispensation.

See: The Ongoing Grants in Nigeria Right Now

Best Nigeria Loan App in Nigeria

Here are the best Nigeria loan app to try out at the moment:

1. Carbon Loan App

Carbon Paylater reivew

Based on a recent update, Carbon is now a digital bank, this Nigeria loan app not only gives you access to loans, it also provides options for investment, funds transfer, airtime purchase, bill payment and so much more.

All you need to do is download the app from the Play Store. Fill in your Biodata, submit all the necessary details, including your BVN and based on the provided information, a loan amount will be calculated and approved for you.

Then, if you need to repay a loan, on/before your due date, you simply fund your Carbon wallet using either a bank transfer or the USSD option on the app.

2. LCredit Loan App

lcredit loan app nigeria

LCredit allows you to apply instantly for personal online loans of up to ₦50,000 depending on factors like age, monthly income and existing debt. LCredit just requires you to provide a valid BVN and Android phone.

LCredit’s loan app offers personal loans with a starting interest rate of 11.99% for salaried and self-employed individuals with a maximum limit of 36%.

LCredit is available for Android and iPhone.

LCredit is a Nigeria loan app created by Cashigo International Limited.

3. FairMoney Loan App

fairmoney quick loan in nigeria

With the FairMoney loan app, you can access loans in minutes, buy airtime and pay bills using your registered account.

To get started with this Nigeria loan app, simply register using the phone number attached to your BVN (an OTP will be sent to the registered number for verification) Just like every other loan app, you are required to fill in your contact details.

For more information, you could visit Fairmoney.

4. Branch Loan App


Branch is one of the loan apps in Nigeria that 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 the annual Interest range is 15% – 34%.

Simply download and install the mobile app from the Play Store, then, follow the instructions. For more information, check out the Branch Review.

Also See: How to Download Branch App for iPhone & Andriod

5. Aella Credit

aella credit

Another Nigeria loan app that guarantees quick loans is Aella Credit, which gives loans up to 1 Million, an Interest range of 6% – 20%, and a loan tenure of 1 – 3 months with no late/rollover fees.

You can download the app from Playstore (Android), App Store (iOS) or check Aella for more information.

6. PalmCredit

Palmcredit loan app - Palcredit ussd code Interest rates

PalmCredit is very popular among Nigerians and promises to put a smile on your face with a quick loan of up to ₦300,000.

Its loan duration ranges from 91 days to 180 days. The interest Rate is between 14% to 24%.

This means if you apply for a 6-month loan of ₦100,000, the total repayment amount is ₦124,000.

This Nigeria loan app is available for download in Playstore or you could check any PalmCredit social media platform for more details.

See: Approved Loan Companies in Nigeria

7. QuickCheck


Quickcheck aims at providing financial services to meet personal and business goals.

However, being a first-time user, you can access a ₦10,000 loan for a period of 30 days. 

Should you decide to get more information, kindly check the FAQ page on the QuickCheck website and you can download the app from Playstore.

8. Alat Loan

alat loan review requirements

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.

This Nigeria loan app is available for download on Google Play or the App Store and has loads of information on the Alat website.

9. Specta Loan

specta loan

Just like Alat, Specta is owned and managed by a financial institution, Sterling and does not require any collateral, guarantor or bank visit to access quick loans.

Irrespective of your occupation or bank, you can access a loan amount of up to ₦5,000,000 to meet your financial needs.

This Nigeria loan app could be downloaded on Playstore and has other interesting packages for you.  For more details about Specta loans check out our Specta Loan Review.

10. Okash

okash loan app

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.

Presently, Okash is one of the standalone loan apps in Nigeria, which means you could download and install just the loan app via Playstore.

It provides access to loan amounts 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 Nigeria loan app, please check Okash website.

11. JumiaPay

jumia pay loan

Another Nigeria loan app to consider is JumiaPay, a product of Jumia, which gives instant loans to users.

You could download the app on Playstore, create your account, scroll down to the ‘Financial Services’ section and click ‘Loans’ to apply for a quick loan.

Details are displayed on the Jumia website.

12. Lidya Loan


Lidya is one of the first loan apps in Nigeria that started providing small and medium-sized businesses access to an unsecured instant online loan in Nigeria. This Nigeria loan app offers businesses credits of $500 and $50,000.

Lydia assesses the credit risk of every business seeking a loan. It uses this assessment to create a credit score unique to each business. Lydia also disburses loans in 24 hours or less.

  • Requirements: Own a business.
  • Platform: Web
  • Interest Rate; Unspecified (The company claims they are affordable)
  • Loan tenure: Depends on the loan amount
  • Multiple loans at a time: No
  • Repayment channel: Debit Card, Direct Deposit.

Checkout: Fake Loan Companies in Nigeria

13. Migo Loan App

Migo loan code - migo loan repaymentrepayment

Formerly Kwikmoney, the 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. Over N40 billion Naira has been borrowed from Migo. The interest rate for a Migo loan is 5 % to 15%. 

14. Page Financials

page financials loan

Page Financials is a financial company licensed by the CBN that offers personal loans in Nigeria. The company claims that getting a loan from them is smooth and easy and that they use a flexible documentation process.

  • Platform: iOS
  • Loan Amounts: N100,000 – N5,000,000
  • Interest rate:  (3.76%) – Charged Flat Per Month
  • Annual Percentage Rate (APR):   29% – 120%
  • Loan tenure: 60 – 180 days.
  • Repayment channels: Manually or via the auto-debit service.

💡 Tip: APR (Annual percentage rate) is the annual cost of a loan that is charged to borrowers or paid to investors. APRs are expressed in percentages like interest rates. APR includes other charges or fees like mortgage insurance, closing costs, discount points and loan origination fees.

15. Blocka Cash

blocka cash loan app

Blocka Cash provides easy and hassle-free loans in Nigeria. Blocka cash is both available on the Android app store and Apple app store.

You can access short-term loans on Blocka from at least N5,000 and up to N50,000 depending on your credit score.

The requirements for a Blocka cash loan include:

  • You must be at least 21 years of age. 
  • You might need to provide a valid Government

Other features of Blocka cash loans are:

  • Platform: iOS, Android,
  • Loan Amounts: N5,000 – N50,000
  • Interest rate:  3% per month – of 10% per month
  • Annual Percentage Rate (APR):  36% to 120%.
  • Loan tenure: 60 to 180 days
  • Repayment channels: Debit Card, Quickteller, and direct transfer

Blocka Cash considers several factors when assessing if you are eligible for a loan. Factors like past loan performance and credit score. Blocka Cash app is powered by James Crown Credit Limited, which has a money lender license issued by the Ogun State Government of Nigeria. You can contact Blockacash at

16. Kuda Loan


Kuda bank is one of the most popular digital banks in Nigeria. Kuda offers its users an overdraft (loans) of up to N50,000 at 0.3% daily interest.

However, your loan amount can increase based on your usage of the Kuda app.

17. P2Vest Loan

p2vest loan app

P2vest is a Peer-to-peer online loan app in Nigeria that offers fee-free lending to investors, and personal and business loans to borrowers. This Nigeria loan app also has a product dedicated to businesses looking to make money through lending.

This lending platform uses Artificial Intelligence to ensure that only creditworthy borrowers have access to quick loans on the app.

17. Kredi Loan

kredi bank loan savings

Kredi is another digital bank on the rise in Nigeria that also offers loans in Nigeria. This Nigeria loan app offers 4 types of loans; Kredi SME Loan, Kredi Nano Loan & Kredi Salary-backed loan & Kredi collateral-backed loan.

The amount you can borrow with Kredi depends on the amount you are eligible and qualified for based on the customer tier you are in.

18. Yescredit Loan

yescredit loan app

YesCredit is one of the loan apps for iPhone in Nigeria that offers a low loan amount.

Their loans range from N5,000 to N50,000. To access a YesCredit loan can take only a few minutes and you can receive it in your wallet and transfer it into your bank account immediately.

 You increase your loan limit every time you repay your YesCredit loan back.

  • Platform: iOS
  • Loan Amounts: ₦5,000 to  ₦50,000
  • Interest rate:  4.5% – 35% with an equivalent monthly interest of 5%- 29%
  • Annual Percentage Rate (APR):   29% – 120%
  • Loan tenure: 60 – 180 days.
  • Repayment channels: debit/ATM card, and direct transfer

YesCredit requires no collateral, guarantors, or documents for them to grant you the loan. Just make sure over 21 years old. But for loans beyond certain amounts, YesCredit will need additional documentation.

YesCredit is a product of YesCredit Limited, which is a licensed money lender by the Lagos State Government of Nigeria.

You can contact Yescredit please contact us at

19. Irorun Loan App

irorun loan app

Irorun is one of the new loan apps for iPhones in Nigeria. You can sign up on the Irorun app and request for a loan and have it disbursed to you in a matter of minutes. 

If you want to access mobile loans in Nigeria with peace of mind, Irorun says they should be your choice. Irorun is more of a micro-credit platform. Basically, they’re focused on small loans.

  • Platform: iOS
  • Loan Amounts: N2,500 – N50,000
  • Interest rate:  4.5% – 35% monthly interest of 5%- 29%
  • Annual Percentage Rate (APR):   29% – 120%
  • Loan tenure: 60 – 180 days.
  • Repayment channels: Manually or via the auto-debit service.

Important Points to Note About Nigeria Loan Apps

These loan apps could request your bank account details and BVN. Don’t give false information. Only borrow what you can repay, so you don’t get stuck while meeting your goal.

Early loan repayment guarantees a good credit score for higher amounts and lower interest rates.

Ensure you review the attached terms and conditions before applying for any loan. Only include your bank details on verified loan apps.

What is the Best App to Borrow Money From in Nigeria?

The best apps to borrow money from Nigeria are Fairmoney, Carbon, Palmpay, Migo, Easemoni, Alat, Lydia etc.

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