Loan apps in Nigeria are life savers, especially in this current economic situation in Nigeria. They have become a safety means for many Nigerians who need money.
When you compare the benefits of these loan apps like: No paperwork, No collateral, Easy convenience, and easy access to funding, one will consider them before facing the hassle of traditional banks.
This article will introduce you into top 10 fast loan apps in Nigeria for quick loan offers with the best payment rates.
Here is the list of top 10 loan apps in Nigeria that offer fast loan
1. Branch.
Regarding digital loans in Nigeria, Branch has a record for being one of the most popular and reliable loan apps. It has gotten over 10 million downloads on Google Play since its launch.
Branch does not require any documentation or collateral and grants up to 1 million naira within minutes of applying. The repayment period of a loan lasts between 4 and 40 weeks. Download Branch app here.
2. FairMoney.
FairMoney is also known for its quick loan service in Nigeria, you can get funded in 5 minutes after you apply for the loan. While FairMoney does not require any paperwork or collateral you need to answer a few questions to confirm your identity and BVN linked number.
With FairMoney you can get a loan as soon as you repay the first loan. FairMoney also increases your loan access based on your lending and payment history (i.e. credit history). Install FairMoney here
3. PalmCredit.
PalmCredit is another mobile loan app that allows their users to borrow from anywhere, at any time. The company offers low interest rates as low as 8% with a payment duration of 12 to 24 weeks.
Palmcredit can offer you a loan in less than 3 minutes after applying. They offer loans ranging from 2,000 to 100,000 Naira which can be increased based on your repayment performance. Click here to download Palmcredit app.
Also Read; Where to Search & Get a Job as a Freelancer in Nigeria (2024)
4. Carbon
Carbon is a CBN-recognized digital bank that provides loan and investment opportunities for it users. Carbon allows you to borrow and pay back in installments within 3 to 6 months.
Typically, Carbon approves loans minutes after borrowing however if the information you filled in is considered accurate your loan could be delayed so make sure you submit all the right information that you need. Download Carbon from here.
5. Renmoney
Renmoney is a loan financing app that lends money based on the personal and financial information that the users provide during application. A loan offer is made by comparing your income and debt (for new users) and repayment history (for reoccurring users).
You get an amount eligible to borrow and if you decide to accept the loan is sent to your account in minutes.
Renmoney offers loan amounts from 6 thousand to 6 million Naira with 3 months to 2 years of payback time. Click here to get Renmoney directly from Google PlayStore
6. Okash.
Okash is backed by Opay, which serves as lending service for Nigerians. With Okash you can get your loan after 5 minutes of applying.
Okash has certain restrictions for lending such as an age range of 20 to 55 years old, 10K as the maximum amount for new users and also being only accessible by Android phone users. Download Okash here.
7. Palmpay.
Palmpay is an automated loaning service that provides loans for people within Nigeria. Apart from loan services, Palmpay can be a digital bank to receive and send money, save, and pay bills.
Palmpay offers approval to loan in 5 seconds and you get it in your account immediately. The interest rate for Palmpay loan is from 15 to 30 percent.
8. QuickCheck.
QuickCheck is a loan app that caters specifically to entrepreneurs. With over 3 million downloads and 200 thousand reviews, it is safe to say that QuickCheck is a reliable platform.
QuickCheck makes use of AI to process loans in less than 5 minutes you get a credit alert after you seek out a loan. Install QuickCheck from PlayStore here
9. Kiakia
Kiakia is a loan app that offer peer-to-peer lending that matches borrowers to lenders on a mutually agreed interest rate.
Read Also: Top 10 Best Tech Skills to Learn Online To Start Making Money In Nigeria
Kiakia allows you to get credited once you have met the terms and conditions of your lenders. The loan offer by Kiakia is from 10,000 to 200,000 for a week to one month. Click here to get Kiakia.
10. Aella credit
Aella Credit is quite new to the mobile loaning space but has managed to grow with over a million downloads of their loan app.
Aella Credit takes pride in the ability to credit borrows within 2 minutes. You can borrow as high as 1 million Naira with a 1 to 3-month repayment period. Get Aella here.
Conclusion
Using any of the top 10 loan app in Nigeria, will help you get your loan approved faster and sent to your account.
Now that you have learned how fast you can get a loan from these loan apps. I will advise that you look carefully at the interest rates and other important conditions before you apply for a loan.
