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List Of Loan Apps In Nigeria – The Top 10 in 2024

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list of loan apps in Nigeria

Want to find the best loan apps in Nigeria? Don’t look any further. This list of loan apps in Nigeria gives you all the essential information you need to make informed decisions about your loan needs.

In this article on the list of loan apps in Nigeria, the following questions will be addressed. Which loan app is the best in Nigeria? Which loan app gives more money in Nigeria? Which app gives the fastest loan? Which online loan is the best in Nigeria?

So what are the best loan apps in Nigeria with low-interest rates?

I’m sure you know what it’s like asking friends and family for soft loans only to be turned down with all manner of stories.

Nobody likes embarrassment, which is why many people now look for loan apps to come to their rescue.

However, it does not mean these loan apps come without any shams. Oh yes, they have their cons and pros!

There are the worst loan apps and there are the fake ones. You just have to be careful.

List of loan apps in Nigeria

It is the list of loan apps in Nigeria that this article wants to focus on, by so doing you will also get to know the top 10 best loan apps in Nigeria, but that does not mean even these best ones do not have their hiccups.

In a nutshell here are the top 10 best loan apps in Nigeria:

  • Carbon (PayLater)
  • Branch
  • Palmcredit
  • FairMoney
  • Quick Check
  • Aella Credit
  • KwikMoney
  • SokoLoan
  • KiaKia Loan
  • CreditVille

Let me now detail each of the loan apps on the list.

List of loan apps in Nigeria

Carbon (PayLater)

So is Paylater the same as Carbon? Yes, they are. They only made a name change when they saw that their banking services were growing.

Now to grow your small business or fix personal emergencies with affordable, collateral-free loans, all you need do is apply from the app 24/7 and get funded in minutes.

You can access up to ₦1,000,000 with no collateral, no guarantors and no paperwork.

They even offer cashback on interest paid once you repay on time.

Getting a loan on the app takes just a few steps:

  • Download the Carbon App on Google Play Store for Android or App Store for iOS.
  • Create an account and provide your personal details. It’s safe and secure
  • Apply for your desired loan by stating how much you need. They will review your application and let you know where you stand
  • Get money in your Carbon wallet instantly
  • Once approved, money will be disbursed in your Carbon wallet instantly

Here is the “catch” (cashback) that I mentioned above: if you repay on time you get to unlock higher loan amounts and lower interest rates.

Also, there are no hidden fees; you pay only what you owe. No late fees, rollover fees, or processing costs.

Dial *1303# for carbon paylater USSD code.

Branch Loan App

Branch offers loans from ₦2,000 to ₦500,000. Loan terms range from 4 – 52 weeks. Interest ranges from 17% – 40% with an equivalent monthly interest of 1.5% – 20% and APR of 18% – 260%, depending on your loan option. There are no late or rollover fees and no collateral necessary. Interest rates are determined by a number of factors, including your repayment history and the cost of lending for Branch.

Here is how Branch Loan App works:

  1. Download the Branch app
    Use your Android phone to download Branch from the Google Play store.
  2. Create your account
    Fill out a simple form in under 30 seconds and submit for a quick review.
  3. Apply for the loan that meets your needs
    Loans are conveniently sent to your mobile money or bank account in minutes.
  4. Receive the loan into your account
    Repay with your mobile account. Build your credit to unlock larger loans.

Palmcredit Loan App

Borrow money online with Palmcredit app. Apply for an instant loan with a flexible repayment plan and favorable interest rate.

Why choose Palmcredit?

1 Limit range from NGN10,000 to NGN300,000.
2 Flexible repayment between 91 days to 365days.
3 No collateral, no paperwork, secure and reliable.
4 No hidden fees, no rollover charge, and no transaction fees.
5 Repay your loans in time or complete increase limit tasks to build your credit limit and reduce on the interest rate.

-Loans interest rate: 4% to 24%, Equivalent monthly interest 4% to 4.7%,the annual percentage rate (APR) on a Palmcredit loan is 24%~56%.

How do you borrow from Palmcredit?

1 Download and register an account.
2 Fill out basic information and submit.
3 Apply for a loan online and easy to get approved.
4 Get your loan disbursed into your bank account.

Palmcredit Loan applicant requirement

✔︎Nigerian resident
✔︎18-60 years old

Fairmoney loan app

Fairmoney Loan amounts range between ₦1,500 to ₦1,000,000 with repayment periods from 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%). Interest discounts of up to 90% for early repayments. No hidden fees.

An example of a FairMoney loan:

  • Borrow ₦100,000 over 3 months
  • Interest (total cost of the loan): ₦30,000 (30% rate)
  • Three monthly repayments: ₦43,333
  • Total amount payable: ₦130,000
  • Representative: 120% APR

FairMoney app is now more than just a loan app. They own a Microfinance bank that is duly licensed by the Central Bank of Nigeria. As such, all your deposits are insured with the Nigeria Deposit Insurance Corporation (NDIC).

Quick Check Loan App

Access quick cash loans at single-digit interest rates, anywhere, anytime. QuickCheck Loan App help Nigerians access instant online quick credit without collateral.

How to Apply with QuickCheck Loan App

If you live in Nigeria, need quick cash to settle emergencies and have an android device, all you have to do is
Step 1: Download the loan app for free
Step 2: Sign up to create an account
Step 3: Apply for a collateral-free loan in less than one minute
Step 4: Credit scoring using their algorithm will be carried out (no collateral needed)
Step 5: If eligible, the cash loan will be credited into your account within minutes

Benefits of QuickCheck

  • Borrow up to ₦1,000,000
  • Choose your payment tenure
  • Fast and easy access to loans, with no hidden charges
  • Account is credited as soon as the loan is approved
  • No collateral or guarantor needed
  • QuickCheck Loan App is extremely secure and reliable
  • Artificial intelligence is used to run credit scoring, making loan decisions instant!
  • 24/7 support

QuickCheck Loan App Fees and Interest

QuickCheck loan has interest rates starting from as low as 5% monthly on the first loan. Loans range from ₦1,500 to ₦500k with terms from 91 days to 1 year. Interest ranges from 2% – 30%, with an equivalent monthly interest rate of 1 – 21%. (APRs from 30% to 260%).

Aella Credit Loan App

Aella is a fintech company built to simplify instant credit and payment solutions for emerging markets. Quick and easy access to loans in 5mins. You can grow your credit score and increase your credit limit by prompt repayments, with no paper documentation. All you need is your basic information, BVN, and a smartphone (iOS or Android).


Their loan ranges from ₦1,500 to ₦1,000,000 with a tenor of 60 days to 180 days. Their monthly interest rate ranges from 2% – 20% and APR from 22% – 264%/annum.

Example Loan with Fee:
A loan of ₦30,000, has a fee of ₦6,000. No late penalties and no hidden charges.
A loan of ₦30,000, a customer would pay back ₦30,000(principal)+ ₦6,000(flat fee) = ₦36,000 total.

You have an option of choosing your loan amount and repayment tenor, you have an option of a minimum of 60 days.

How to Apply with Aella Credit app:

  • Download the Aella App
  • Create your account
  • Update your profile
  • Check Eligibility
  • Apply for loan
  • Receive funds in your wallet instantly

KwikMoney (MIGO)

KwikMoney, formerly Kwik cash is now known as Migo. Migo is headquartered in San Francisco and currently operates in Nigeria and Brazil.

Get Migo loan in 3 easy steps:

  • Enter and verify your phone number
  • Choose the best-fitting loan offer
  • Add your banking information

You do not need any collateral or documentation to request a Migo loan.

You can get a Migo loan by dialing *561#.

You can also use USSD menu shortcuts to request a loan as well as other functionalities. Here are some examples:

  • ‍*561*1*1*1# Take out a loan
  • ‍*561*1*2# Repay a loan
  • ‍*561*1*3# Check loan balance
  • ‍*561*1*4# Extend your loan
  • ‍*561*1*5# Terms and conditions

Find out how to repay your Migo loan here.

SokoLoan App

Soko makes getting a personal loan simple by using the data on your phone including your SMS history to verify your identity and create a credit score.

You can apply for a Sokoloan 24 hours a day, 7 days a week with their quick application process that lets them know your status within minutes.

  1. No paperwork, mortgage or office access required
  2. Use your money the way you want – for a home or business.
  3. For 25-50 years old, you need to have a fixed job.

Get your loan right to your bank account and you can choose to repay within 2 to 6 months. Interest ranges from 4.5% to 34%

How do I borrow from Sokoloan?:

step1: Create your account
step2: Apply in seconds
step3: Receive your loan straight into your bank account
step4: Increase your loan limit each time you repay your loan


Loans range loans from ₦5,000 to ₦100,000 with terms from 91 – 180 days.

Interest and service fee ranges from 4.5% – 34% with an equivalent monthly interest of 3% – 29% and APR of 29% – 365%.


If you choose a 6-month loan and borrow N 1,000, sokoloan charges an interest rate of 4.4% per month. And the interest rate is 26.4%, we would charge you N263 as the interest of a 6-month repayment period. The total amount of repayment is N1,263.

Sokoloan USSD Code

Are you looking for a loan and need Sokoloan USSD Code? Unfortunately, there is no Sokoloan USSD Code for now; however, you can access loans through their mobile app.

KiaKia Loan App

KiaKia is a licensed lender which gives out loans secured and unsecured loans to carefully selected individuals and businesses across Nigeria.

How do I borrow from KiaKia?

  • To successfully submit a loan application, you have to fulfill the following requirements –
  • An applicant must be resident in Nigeria
  • An applicant must be above 21 years of age
  • An applicant must possess a Bank Verification Number (BVN) and be an account holder with any of the mainstream commercial banks in Nigeria.
  • An applicant must have evidence of verified source(s) of income (employed in the public/private sector or runs his/her own business)
  • An applicant must provide a valid means of Identification (Work ID for employed applicant, and Government-issued ID for self-employed) applicant
  • An applicant must provide proof of income (sms or email screenshots of monthly income alerts or electronic bank statement (in Pdf format) for the 6 most recent months)
  • Alternatively, an applicant can authorize KiaKia to view his/her bank transactions by connecting his/her bank account to the Mr. K software ONLY for the purpose of obtaining bank transaction details.

KiaKia loan application process

  • To successfully submit a loan application, this is how you have to go about it –
  • Create an account by providing all required details
  • Start an application chat
  • Upload work ID or government-issued ID
  • Enter the desired loan amount
  • Select duration/tenure
  • Upload Screenshot of SMS alerts or PDF statement of your last 3 salaries or Business income
  • Accept loan terms and conditions (IF APPROVED)
  • Authenticate your submitted bank accounts
  • Get credited

Kiakia Loan USSD Code

If you’re looking for a kiakia loan USSD code, you may be disappointed to find that the lender does not have one. Instead, the lender offers loans through an app available on the Google Play Store and App Store. Through this Kiakia P2P app, borrowers can get loans conveniently, while lenders can lend their money and earn interest.

CreditVille Loan App

Creditville is an online moneylender that provides Payroll based consumer loans to eligible individuals through their employers. The amount borrowed is then deducted from your monthly salary.


  • You should be between 25 and 60 years
  • You must run a current account with a commercial bank in Nigeria
  • You should be resident within the states of our operation
  • You must have a verifiable monthly salary income
  • You must have a clear credit report
  • You must not have a history of returned cheques in your account

Creditville loan requirements for self-employed

  • One passport photograph
  • 1 means of identification e.g national ID card, international passport e.t.c
  • Last six months’ statement of account
  • Certificate of incorporation
  • Memorandum of association
  • Post-dated NUBAN cheques from the client
  • A suitable guarantor who will provide the following: employment/confirmation letter, one undated NUBAN cheque, copy of staff ID card, filled guarantor form provided by creditville limited

Creditville loan requirements for paid employment

  • A suitable guarantor
  • 1 passport photograph(each from client and guarantor)
  • Copy of client employee ID card
  • Copy of guarantor employee ID card
  • Loan request application letter
  • Post-dated NUBAN cheques from clients
  • One blank undated NUBAN cheque from the guarantor
  • Last six months’ salary current account statement stamped
  • Duly completed loan application form
  • Copy of letter of employment or confirmation of employment
  • Rent receipt
  • Proof of residence(PHCN, water bill)

Types/class of guarantors accepted

A guarantor who is a staff of any commercial bank
A guarantor who is a senior management staff of a blue-chip(quoted)company
A guarantor who is a senior civil servant from grade level 14 and above.

Concluding List Of Loan Apps In Nigeria

Have you now compared Nigerian loan apps and found the one that matches your needs and budget? From our list of loan apps in Nigeria, which one will you be picking to get a loan quickly and securely?

This article was updated 1 month ago


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