Top 12 List Of Instant Loan App In Nigeria (Latest)

Top 12 List Of Instant Loan App In Nigeria (Latest)

Top 12 List Of Instant Loan App In Nigeria (Latest)

Top 12 List Of Instant Loan App In Nigeria (Latest)

The majority of the time, many people and business owners can require some additional cash in order to assist them in dealing with the financial troubles that are around them. In situations like this, when all other ways of acquiring funds have been tried and shown to be unsuccessful, the most viable option is to investigate the possibility of acquiring a loan online, which can be obtained quickly and at rates that are easily manageable.

For any individual who is only trying to access a small amount of loan for only a short period of time, the procedure of accessing quick loans in Nigerian banks is quite lengthy and laborious. This is the case even if the loan amount is only a few hundred dollars.

As a result of the change in the financial technology industry that is currently taking place in Nigeria, both new enterprises and individuals have easier access to speedy loans when they are needed. Here is a list of the seven best mobile apps in Nigeria that can be used to get personal and business loans online.

Today, there are a variety of financial loan lending platforms in Nigeria that provide services to individuals and organizations operating at various levels. On the other hand, not all of Nigeria’s numerous lending platforms are able to provide clients with services that are dependable and fruitful for them.

The best lending services provide quick payment, a low annual interest rate, and a significant amount of grace period for the borrower to repay the loan. Most notably, they offer rapid approval of loan applications in addition to their safety.

This is a list of some of the best instant loan apps in Nigeria, based solely on information obtained from the Google Play Store. These apps offer financial credit services to individuals, well-established businesses, and most importantly, the frequently overlooked small and medium businesses (SMEs).

Customers who are in need of small-scale loans can access them through one of the tens of loan applications that are currently available in Nigeria and that operate effectively. People who require loans of more than $100,000 have had a difficult time getting them for a while now because many applications do not offer loans of that amount or higher. This post will put an end to your quest if you are one of those people because it talks about loan apps that may grant more than 100,000 nairas in Nigeria.

12 Most Popular List Of Instant Loan App In Nigeria

12. KiaKia

11. Okash 

10. Pay later

9. Palmcredit

8. Branch 

7. QuickCheck 

6. Aella Credit

5. FairMoney 

4. 9ja Cash

3. Carbon

2. Xcredit

1. Newcredit


KiaKia is a mobile web app that not only provides you with access to personal and small business loans, but also enables savers to lend out funds at negotiated interest rates through intuitive conversations. KiaKia is currently available in the United States.

KiaKia is able to provide direct and peer-to-peer personal and business loans to millions of individuals and SMEs without requiring them to provide their credit information by employing psychometry, big data, machine learning, and digital forensics in its proprietary credit scoring and credit risk assessment algorithm.

How do I go about getting KiaKia loan?

To make a request for a loan or apply for one, all you have to do is click the “GET A LOAN” button on the homepage, then start a conversation with Mr. K and answer all the questions that are pertinent to the situation. It can be summed up like this.
How long does it take to go through the process of reviewing a loan?

After a loan application for a Kiakia has been successfully submitted, the evaluation phase of the loan is finished in a matter of minutes.

What are the requirements for getting a loan?

  1. In order for your application for a loan to be accepted, it is necessary for you to satisfy the following requirements:
  2. A resident of Nigeria is required to submit an application.
  3. Age requirement for applicants is at least 21 years old.
  4. A Bank Verification Number (BVN) is required of all applicants, and they must already have an account with one of Nigeria’s mainstream commercial banks in order to be considered.
  5. An applicant is required to provide evidence of at least one verified source of income, such as proof of employment in either the public or private sector or proof that they run their own business.
  6. An applicant is required to provide a reliable form of identification (a work ID in the case of employed applicants and a government-issued ID in the case of self-employed applicants).
  7. An applicant is required to provide evidence of their income, which can be in the form of electronic bank statements (in PDF format) or screenshots of their monthly income alerts sent via text message or email.
  8. Alternately, an applicant has the option of authorizing KiaKia to view his or her bank transactions by linking his or her bank account to the Mr. K software STRICTLY for the purpose of acquiring information regarding bank transactions.

Apply For Loan Here

ALSO CHECK: How to Use EasyBuy to Get (Loan/Purchase) In Nigeria

11. Okash (OK)

Okash is an automated lending service offered by Opay with the goal of expanding access to credit for individuals in Nigeria who are currently under-served or excluded from the financial system.

The decision on the loan is made within 15 seconds, and if it is approved, the applicant will receive the funds within 5 minutes. This service is available 24 hours a day, seven days a week.

One of the apps that enables many Nigerians to obtain loans quickly and without the requirement of collateral today is the OKash loan app, which is owned by Blue Ridge Microfinance Bank Limited.

OKash claims that it can satisfy customers’ financial needs completely online and around the clock. The application process consists of only a few simple steps and requires only a minimum amount of supporting documentation, after which the approved loan amount is electronically deposited into the applicant’s bank account. The owners of the app have stated that this makes it convenient for users to access their credit at any time and in any location.

Apply For Loan Here

10. Pay later (PL)

Paylater is an easy-to-use and completely online lending platform that offers short-term loans to individuals and small businesses in Nigeria. These loans can be used to help cover unforeseen expenses or urgent cash needs. Paylater serves the Nigerian market.

You don’t need to put up any collateral to get a loan of up to 500,000 Naira when you use Paylater. When your application is accepted, the funds you requested will typically be sent to you within one to three business days. When you make your payments on time, you may be eligible for higher credit limits when you apply for future loans.

Get quick and flexible loans at rates that won’t break the bank when you download the Paylater app.

Paylater is an automated loan business that aims to improve access to credit for people who are underserved or excluded from it financially in Africa.

If a loan is authorized, a decision is given in 15 seconds, and the applicant receives the funds in 5 minutes. 7 days a week, 24 hours a day. The loans are disbursed through an Android mobile app, and disbursement decisions are made very immediately. The typical sum for first-time borrowers is N10,000

Moneylender loans are intended to be short-term loans that will cover expenses until your next paycheck. It is perfect for anyone looking for an unsecured personal consumer loan, students, and people with thin credit files who are disqualified for conventional bank loans.

Eligibility requirements

  1. True bank information
  2. BVN code
  3. Android mobile
  4. Finish the application

Apply For Loan Here

9. Palmcredit (PC)

With PalmCredit, a virtual credit card, you may easily receive a loan whenever you need it. On your cell phone, Palmcredit provides loans up to $100,000 within minutes.

Obtaining a mobile loan with PalmCredit is simple. Apply for your credit limit in a matter of minutes, then take as many short-term loans as you require without having to wait for approval. It’s a revolution in credit!

Your credit score is updated as soon as you make the repayment. Repay on time to see your N100,000 limit increase.

In comparison to Nigerian commercial banks, one of the lending apps that makes borrowing easier is Palmcredit. While several of them have faced harsh criticism recently, particularly due to their unusual methods of loan recovery, many Nigerians still use them when they need an emergency fund.

The availability of lending apps like Palmcredit has undoubtedly been a lifesaver for many Nigerians who were having trouble making ends meet. However, customers have not always been happy with the app’s features, which provide them access to rapid loans.

But first, there are a lot of positive aspects of the Palmcredit app. One is that the program just weighs 9.6 MB, making it quick to download and taking up less space on users’ phones. The app’s blue and white appearance is stunning, and it has a user interface that is simple to use.

Apply For Loan Here

8. Branch (B)

Many people may now access a variety of high-quality digital banking products for the first time thanks to Branch, including instant loans, money transfers, bill payments, high-yield investments, and savings. All at one location

Branch is a straightforward yet effective mobile lending app available in Kenya and Nigeria. Branch App makes it incredibly quick and simple to obtain quick and instant loans. You can immediately resolve your money problems with its assistance.

Loan amounts range from 1,500 to 150,000 at Branch. The length of a loan is 4 to 64 weeks. Depending on the loan option chosen, interest rates range from 14% to 28% with an equivalent monthly charge of 1% to 21%.

For access to quick and immediate loans, download the Branch app.

Apply For Loan Here

7. QuickCheck (QC)

A contemporary lending platform for people and small enterprises is called QuickCheck. QuickCheck makes it possible for people and small enterprises to acquire financial financing through mobile technologies.

The platform claims that customers can quickly and easily obtain loans up to 30,000 Naira for either a 15- or 30-day term without putting up any security.

Apply For Loan Here

6. Aella Credit (AC)

Aella Credit is developing systems that make it simpler for African citizens to acquire credit. The organization, which primarily specialized in employee financing and empowerment, was associated with Nigeria’s three major credit bureau companies to offer its clients quick, reasonable loans with no paperwork.

To assess a user’s creditworthiness, Aella Credit employs a unique credit score system. The algorithm evaluates a borrower’s eligibility for a loan by taking into account social and demographic aspects as well as their debt to income ratio. It was developed after the team gathered and analyzed market data for more than five years.

How do I apply for a loan?

  • Install the Aella App.
  • Make an account.
  • Complete all relevant fields with accurate and pertinent data.
  • To determine how much you are qualified to borrow, click the “Check Eligibility” option.
    Request a loan that is suitable for you.
  • Get money into your Aella Wallet.

Apply For Loan Here

5. FairMoney (FM)

Personal loans, education loans, business loans, and more are all included in FairMoney packages. They are able to offer all of our valued customers a quick and effective loan application because of the efficient use of technology.

How do I apply for a quick loan?

A BVN and an Android phone are required. That’s it. From the Google Play Store, get the FairMoney app. To receive a loan offer, register with the phone number associated with your BVN, respond to a few questions, and prove your identity. If you agree to it, your loan will be quickly deposited into your preferred bank account!

Apply For Loan Here

4. 9ja Cash (9ja C)

Similar to xcredit, 9ja Cash is a lesser-known yet flawlessly functional program. For a tenor of 180 days, they let you borrow up to a whooping N300,000. However, because it ranges from 1% to 34%, their interest rate could be rather high.

Palmcredit, 9credit, lend me, and Sokoloan deserve special consideration. They do, at the time of writing, provide a maximum loan of $100,000, thus we did not include them on our list. Despite the possibility of change in the future, the current situation does not exactly match the criteria for this article. However, they are trustworthy and safe to use.

Use this loan comparison platform to quickly analyze the benefits and drawbacks of the various app offerings so that you can make a well-informed decision before selecting a loan app. This makes sure that, to the greatest extent possible, you only take the offer that is most advantageous to you.

Apply For Loan Here

ALSO CHECK: How to (Get/Repay) Migo Loan With Code

3. Carbon (C)

You may use Carbon, a quick loan service, via your smartphone. Additionally, they have two significant packages—one for everyone else and one for pay earners only. Additionally, you can use the app to pay additional bills like PHCN and recharge cards.

Apply For Loan Here

2. Xcredit (XC)

Even though it isn’t particularly well-known, xcredit is one of the best lending applications in Nigeria and offers its users a solid loan package. Currently, they provide loans starting at N2,000 and going up to N500,000.

Additionally, they do not require a collateral and their loan range is roughly 5 months long. You must, however, submit information about your bank account.

1. How can I make a loan application?

Search for the “XCredit” APP in Google Play. Once downloaded, you can launch the APP and proceed with the loan application process.

2. How much credit can I get?

Our loan amounts currently vary from 5,000 to 500,000 Ngn. You can borrow more money if you make your scheduled loan repayments.

3. How much time does the application procedure require?

It will require some time.

4. What is the interest rate charged by XCredit?

Interest rates are based on a number of variables, such as our cost of lending and your history of on-time repayments with XCredit. The origination fee is assessed at 12% for a duration of 180 days depending on these variables.

Any mobile money transaction costs, such as bank fees, related to loan repayment must be paid for by the borrower. Your your carrier’s standard SMS and data rates may apply.

5. How do you enter the information for your family and emergency contacts?

The people who are best able to attest to your dependability, credibility, and honesty are your family and emergency contacts. When we decide on the loan, we might get in touch with them. Please be careful when entering the contact information.

Apply For Loan Here

1. New credit

Another rapid lending app with over 1 million downloads in Nigeria is New credit. The personal loan application that provides Nigerians with loans without collateral up to N300,000

The software analyzes prospective clients’ financial information, including bank transaction SMS on their phones and their creditworthiness from other lenders, using artificial intelligence (AI).

Apply For Loan Here

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