13 Best Loan Apps in Nigeria


This Article was Reviewed by The Chief Editor, Godfrey

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Estimated reading time: 7 minutes

During the pandemic period, millions of Nigerian small business owners lost all or a substantial part of their income thereby making it difficult for them to start all over after the pandemic. So if you’re one of them and in need of a loan to rekindle your business, you might have to see these best loan apps in Nigeria.

These loan apps are devoid of any forms of scams and are legitimate. They will provide you free access to ultimate personal cash loans, with little or no respect for collateral, paperwork and you don’t even have to go to the bank.

Regardless of your financial situation, always appreciate the position you found yourself in, some other people are out there striving hard to pay medical bills. Believe and have faith, in this financial stress, you are never alone.

Best Loan Apps in Nigeria

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Best Loan Apps In Nigeria For Small Businesses

1. Palm Credit App

One of the outstanding loan apps in Nigeria is the magnificent Palm credit app. This loan app is basically an Android version and it grants loans to its new and old users.

Palm Credit is a Loan Apps in Nigeria

Palm Credit Loan app is very quick and easy and its loan granting permission is limited to people who are 18 years of age and above.

To enjoy this loan app, visit Google Play Store to download it, sign up, input your details, and request a loan that falls within the amount range of #2,000 — #100,000.

2. Fair Money App

Next on this list is the Fair money app. For an easy and fast application process, all you have to do here is to download the loan app on Google Play Store, register and receive your loan cash without collateral.

Fairmoney app

However, it important to note that there are a few terms and conditions that will be attached to the loan. Hence, take your time to check and read it through.

Lastly, the grace period for the loan period at the Fair Money loan app is between 2 weeks to a month. And other than the loans, you can equally pay bills and recharge your phone using the app.

Also Read: Best Insurance Companies in Nigeria

3. Quick Check

The Quick Check app is one of the modern lending outlets that deserves the top position on the list of the best loan apps in Nigeria for either individual or small business owners.

According to the Quick Check app, interested users can have access to quick loans of about #30,000 or thereabouts without any respect for collateral for 2 weeks on the minimum and 30 days on the maximum.

4. Okash Loan

This lending platform is owned by the popular and giants tech company – Opera. They have over the past few years positioned themselves as arguably one of the best and reputable loan platforms in Nigeria today.

OKash loan Best Loan Apps in Nigeria

To receive an instant loan using the Okash app, you have to download the mobile app from Play Store, open an account with them, provide your details, and wait for, at least, 24hrs for approval.

5. . Migo (Kwikmoney)

Migo is another fascinating loan app in Nigeria. Formed out of an impressive partnership deed between banks, companies, and few other technology companies.

Migo loan app (formerly known as kwikmoney) is a lending platform where anybody that is in financial stress can use to get a quick cash loan in Nigeria.

All you need is your Bank Verification Number {BVN} and your bank account number. With Migo, you can access and receive up to N500,000 collateral-free loans instantly.

6. XCredit

Worthy of mention on this list is XCredit loan app. The loan range for the interested user is between N2,000 to N500,000 and the repayment period is 10 days on the minimum and 5 months maximum.

Here, the interest rate is 12% and your biodata, work history, education background, and bank details will be needed before the loan will be granted.

7. Aella Credit

Aella Credit loan app is designed purposely to help individuals and employees access quick funds in a time of need. The loan range here is between N1,500 to N700,000 with a 4% —29% interest rate per month.

Aella Credit is another Loan Apps in Nigeria

Aella Credit loan app is available in another African country like Ghana, and they are active in the Philippines too.

Like other loan apps in Nigeria, Aella also requires you to submit your Bank Verification Number for approval before you can be granted loans.

8. KiaKia

KiaKia is a loan mobile and web app that gives its users quick access to small business and personal loans and it also lends out funds to savers at a negotiated interest via several intuitive conversations.

KiaKia uses psychometry, digital forensics, big data,  and machine learning for its credit risk and proprietary credit score assessment algorithm in a bid to render direct and peered business and personal loans to millions of people and SMEs without regard to their credit information.

9. Branch

Branch is another powerful loan app that grants quick and instant cash loans to its prospective users. Branch loan range is from N1,500 — N150,000 and the loan terms vary from 4 to 64 weeks.

10. Paylater

Paylater is entirely an online lending platform with an easy-to-use interface. The platform provides short-term cash loans to small business owners and individuals in Nigeria to help clear urgent and unexpected expenses or cash needs.

With Paylater lending platform, you can quickly access up to half a million loan without collateral. But to get this, your loan application must have been approved.

11. Lidya

Lidya is also a reliable and excellent loan app designed for Nigerians. The mobile loan app came into the limelight sometimes in 2016 with the sole aim of lending business owners money to fund their emerging markets credits.

This lending platform headquarters is in the United States but has other operation centres in Portugal, Poland, Czech Republic and Nigeria.

Emerging business enterprises can access loans above ₦150,000 on Lydia with 3.5% interest rate per month.

12. Renmoney

Renmoney loan app is purposely built to help micro-businesses and SMEs revive and grow their businesses via their mobile loan service. This lending platform can grant emerging enterprises a quick loan worth ₦100,000 with 2.8% interest rate monthly. Impressive, isn’t it?


13. Sokoloan

The Sokiloan loan range falls between N5,000 to N100,000 with 4.5% to 34% monthly interest rate and 7 days repayment period on minimum and 180 days on maximum.

After downloading this app, you will have to register and fill in your biodata, education history, work place and your bank details for your loan application to be approved.

End note.

The above mentioned are the 13 best loan apps in Nigeria. However, endeavor to weigh your options before opting for any of the listed mobile app lending platforms in the country.


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About the Chief Editor

Godfrey Ogbo, the Chief Editor and CEO of AtlanticRide, merges his environmental management expertise with extensive business experience, including in real estate. With a master's degree and a knack for engaging writing, he adeptly covers complex growth and business topics. His analytical approach and business insights enrich the blog, making it a go-to source for readers seeking thoughtful and informed content.

1 thought on “13 Best Loan Apps in Nigeria”

  1. Please you guys should look into the loan app that fun of calling the contact or sending message to someone’s contact, is bad they collect the loan they will surely pay it, is disgraceful and also killing people, please look into it thanks.


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