Top 20 Loan Apps in Nigeria With Low Interest

top 20 loan apps in nigeria

You can get cash in a few minutes in Nigeria using a loan app. With just your smartphone, your next loan is a few taps away. This list top loan apps in Nigeria offer the best collateral-free loans and the best rates and terms you can find for loans in Nigeria. We’ve considered the loan terms of all the loan apps in Nigeria and we’ve picked the best apps you should consider for your next loan. These trusted and reliable lending apps require no over-the-top documentation or collateral.

You can apply for a loan in Nigeria from any of these loan apps and get the loan credit at a low interest rate, paid to your account instantly (within 5 to 25 minutes).

Loan Apps in Nigeria with the Low Interest

1. Fairmoney

fairmoney loan app

The FairMoney loan app in Niger allows anyone get a loan in 5 minutes. You can get personal loans of up to N3 Million Naira from Fairmoney at competitive interest rates.The requirements to get a loan from the Fair money app is your BVN and an okay Credit History.

You can Sign up to Fairmoney today and get a loan in Nigeria instantly.

2. Carbon

Carbon Paylater reivew

Carbon is a digital bank in Nigeria that you can get a loan from at a good interest rate. The Carbon app also provides options for investment, allows you to send and receive money, pay bills and so much more.To get a Carbon Loan, you’ll need to download the Carbon app from the Play Store If you haven’t already, provide your BVN, and some required personal info. If the app determines your credit history good enough, a loan amount will be calculated and approved for you.

3. Branch

branch loan app

Branch has been one of the top 20 loan apps in Nigeria because it has been a reliable source of accessing credit via smartphones in Nigeria for a long time. You can get a minimum loan of ₦1,000 Naira and a Maximum loan of ₦1,000,000 from the Branch app. This loan app has no late/rollover fees.

Branch is popular in Kenya as well for its loan product. Monthly interest rates for a Branch loan are 3% – 21%, and an annual Interest range of 15% – 34%. You can get an instant loan in Nigeria from the Branch app today.

4. Migo

migo loan

Over N40 billion Naira has been borrowed from Migo. Which used to be called Kwikmoney, at some point, but the Migo loan app has grown in leaps and bounds and is regarded as one of the top loan apps in Nigeria with low interest for borrowers. You can get a mobile loan in Nigeria of up to N500,000 with Migo in less than 2 minutes.

The interest rate for a Migo loan is 5 % to 15%. 

5. PalmCredit

Palmcredit loan app - Palcredit ussd code Interest rates

PalmCredit offers instant loans of up to ₦300,000 with a loan duration of 91 days to 180 days. Interest Rate of a Palmcredit loan in NIGERIA 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.

The PalmCredit loan app is available for download on the Google Play Store or you could check any PalmCredit social media platform for more details.

6. Alat


The Alat app is a digital bank by Wema bank. You can get access to instant loans using Alat. Borrow up to ₦2,000,000 from this loan app in Nigeria. The Alat loan app is available for download on Google Play or the App Store and has loads of information on the Alat website.

7. Palmpay

palmpay app

You can borrow money from the Palmpay app in under 5 minutes. A Palmpay loan of can get as high as N200,000. Like all other loan apps, no paperwork or collateral needed.

Depending on your credit score, and the amount you want to borrow, the interest rates for Palmpay loans can range between 15% to 30%. It is important to note that Palmpay charges one of the highest interest rates on this list and gives a short repayment period for first-time borrowers. However, as you continue to borrow and repay your monthly loan on time, rates and loan terms will be better on the mobile loan app.

8. Aella Credit

Aella loan app.

One of the oldest and reliable loan apps in Nigeria, Aella Credit guarantees personal loans of up to N1 Million Naira, with a loan interest rate of 6% to 20%, and a loan tenure of 1 – 3 months with no late/rollover fees. You can access an online loan from Aella Credit by downloading the mobile app from Playstore (Android) or App Store (iOS).

9. QuickCheck

quickcheck loan

Quickcheck is a mobile loan app offering business loans to people in Nigeria. You can get business loans of up to N1 Million Naira from Quickcheck. You can access a ₦30,000 loan for 30 days. Once your loan has been repaid, you’ll be able to get higher loan amounts from Quickcheck. You can apply for a loan from Quickcheck by visiting its Website or downloading the loan app from the Google Play Store.

10. Okash

okash loan app

Okash is one of the top loan apps in Nigeria for accessing personal loans in minutes. With an Okash loan, you can borrow as much as ₦50,000 with no collateral, although, the maximum loan amount you could receive differs. Check out the Okash website.

11. Specta

specta loan

Similar to Wema bank’s Alat, Specta is owned and managed by Sterling Bank, a commercial bank in Nigeria. You can get a personal loan or business loan from the Specta app without any collateral, guarantor, or bank visit. With a Specta loan you can borrow as much as ₦5,000,000. The Specta app can be downloaded on the Google Play Store.

12. P2Vest

p2vest loan app

P2Vest is one of the promising new loan apps in Nigeria, offering people alternative loans. P2Vest is a peer-to-peer lending platform that connects screened borrowers to lenders and investors who are looking for better returns on their capital, compared to savings accounts and fixed deposits. P2Vest loan amounts are within the range of N5,000 Naira to N2,000,000 Naira with a loan tenure of 12 months.

P2Vest also has a B2B loan platform called P2VFB for businesses to manage their money lending activities. P2Vest is available on iOS and Android.

13. JumiaPay

jumia pay loan

Another top lowkey loan app in Nigeria is JumiaPay, which is a product of Jumia. Other than allowing you getting all your daily needs in one place like airtime, utility bills, and shopping, the JumiaPay app doesn’t just give instant loans to users.

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

14. Page Financials

page financials loan

Page Financials is a finance company licensed by the CBN that offers personal loans in Nigeria. You can get a loan from Page Financials is smooth and easy and they use a flexible documentation process. A Page Financials loan amount is between N100,000 Naira – and N5,000,000 Naira with an Interest rate of 3.76% – Charged Flat Per Month, an Annual Percentage Rate (APR) of 29% – 120%, and a loan tenure of 60 – 180 days.

The Page Financial app is available on only the iOS /App Store. Loan repayment for a Page Financials loan happens manually or via the auto-debit service.

15. Blocka Cash

blocka cash loan app

Blocka Cash is another top mobile loan app in Nigeria offering hassle-free personal loans in Nigeria. You can access short-term loans on Blocka from N5,000 Naira up to N50,000 Naira depending on your credit score. Blocka Cash loan interest rate is 3% to 10% per month and an Annual Percentage Rate (APR) of 36% to 120%.

Blocka Cash loans are valid for 60 to 180 days and can be repaid via Debit Card, Quickteller, and direct transfer. To get a Blocka cash loan, you must be at least 21 years of age and you’ll need to provide a valid Government. Blocka Cash is both available on the Android app store and the Apple app store.

16. Kuda Loan


Kuda Bank is one of the most popular digital banks in Nigeria and it offers users an overdraft (loans) of up to N50,000 at 0.3% daily interest.The loan amount you can get from Kuda can increase based on your usage of the Kuda app.

17. Kredi Loan

kredi bank loan savings

Kredi is another digital bank on the rise in Nigeria that also offers loans in Nigeria. Kredi offers 4 types of mobile 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

yescredit loan app

YesCredit is one of the loan apps for iPhones in Nigeria that offers quick loans to anyone in Nigeria in a space of a few minutes. This mobile app gives loans between N5,000 to N50,000 with an interest rate of 4.5% – 35% with an equivalent monthly interest of 5%- 29% and an Annual Percentage Rate (APR) of 29% – 120%.

The loan duration for this loan app is between 60 to 180 days. You increase your loan limit every time you repay your YesCredit loan. Repayment of your loan can happen via debit/ATM card, and direct transfer. A YesCredit loan requires no collateral, guarantors, or documents for them to grant you the loan. YesCredit will need additional documentation. You can contact Yescredit please contact us at

19. Umba

umba loan app

Umba is becoming one of the more popular digital banks in Nigeria offering loans as well as the rewards and bonuses its users get. With an Umba bank account, you can easily spend, pay bills, get loans, and even cash back all from your phone using the Umba mobile app.

Umba also offers zero-fee and unlimited transfers to its users as well.The Umba loan app is one of the new loan apps in Nigeria offering personal loans. Umba loans start at N1,115 Naira up to N89,182 Naira at a 10% interest rate for a loan duration of 62 days.

20. Irorun

irorun loan app

Irorun is one of the new loan apps for iPhones in Nigeria offering small quick loans that can be disbursed to you in a matter of minutes. Irorun offers loans from N2,500 Naira to N50,000 Naira at an interest rate of 4.5% – 35%, and a monthly interest of 5%- 29%, with an Annual Percentage Rate (APR) of 29% – 120%.

YesCredit Loan tenure is between 60 to 180 days and can be repaid Manually or via the auto-debit service.

Key Takeaways

These top 20 loan apps in Nigeria will likely 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 for future loan requests.

Ensure you review the attached terms and conditions before applying for any loan. Only include your bank details on verified loan apps. Our pics for the best loan apps to use in Nigeria are Carbon, Fairmoney, Palmpay, Migo, PalmCredit, Alat & Specta.

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