12 Best Loan App In Nigeria 2022 – Get Instant Loan Online


Do you want to get a quick loan in Nigeria?

Yeah, it is possible to get a loan in case of an emergency. There are many financial institutions in Nigeria that are dedicated to giving you loans without many processes involved.

In this article, I will be reviewing the Best loan app in Nigeria 2022. These apps save you the formalities and stress involved in getting a loan. There are many fintech or financial technologies with the sole aim of providing loans to individuals and business owners.


With these quick loan apps, you can get a quick loan within the range of 24 hours. There is nothing more than applying for a loan and getting approved within 24 hours without collateral. Many quick loan apps have their terms and conditions, that’s why you need to read this article. Understand the loan app and learn how it works before applying for a loan.


The Best Loan App In Nigeria ( Mobile Loan App In Nigeria)


I have taken my time to review as many loan apps as I can. All of them are good but the question remains –


Best loan app in Nigeria


Which Loan App is the Best?


There are many things to consider before picking your best loan app. These things are factors that you should put into consideration.

Many people might have their best loan app based on a particular factor. Some RenMoney, OKash, and to some FairMoney.

This might be based on the amount of loan offered, the Interest rate you are willing to pay, or the duration of payment.


There are some loan apps that will give you the amount you need to meet your financial need but their interest rate might be too high and the repayment plan is not flexible.


While some might have a favorable repayment plan and Interest rates but the app money (loan) in question is too small for your financial need.


My Advice

I don’t encourage getting a loan, but if you should. Know the terms and conditions involved.

Go through the guide review below, check out the loan app that best suit you.

If you do – Guess what? You have gotten your best loan app in Nigeria.



List of Best Loan Apps In Nigeria – Instant Loan In Nigeria


Below are list of quick loan apps in Nigeria. You can get loans from these financial institutions without collateral.

  • OKash
  • Kwikmoney (MIGO)
  • RenMoney
  • Palmcredit
  • Quickcheck
  • Aella Credit
  • Fair Money
  • Soko Loan
  • Paylater (Carbon)
  • Branch loan
  • KiaKia Loan
  • Jumia One
  • Kuda


OKash Loan App


If you need a quick loan app in Nigeria? OKash is a subpart of Opay. OKash was on Opay as a part, now it has its own app on the google play store.

OKash started in the year 2018 in Kenya before getting to Nigeria.

It is very easy to apply for OKash loan. You need to download the mobile apps and register with your full details. Make sure you verify your identity. Then you can apply for the loan you are qualified for.


Features of OKash Loan App


  • Enjoy a minimum up to N50,000 loan from Kash. You will increase your limit because of lending to others on the app.
  • You can apply for a loan using your credit card.
  • Okash offers a pay-back plan of 91 days to 365 days (this is a flexible payment considering the days).
  • Offers an annual interest rate of 36.5% to 360%.
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Kwikmoney (MIGO)


Kwikmoney is one of the best quick Loan apps in Nigeria. You can get an instant loan from Kwikmoney. Kwikmoney loan app is now rebranded to Migo. This platform allows you to apply for a loan via the mobile app or website.

You can get the app from the Google play store or get it from Migo loan portal register and verify your identity.

All loan applications will be carried out on Migo website. There are other options to get loan from Migo which are simpler. Instead of visiting the loan portal, you can apply using ussd code through your sim.

You can request for a loan loan on MTN, GLO, and Etisalat by dialing *564# or by dialing *554*561# for Airtel.


Features Kwikmoney/Migo


  • You can apply for a loan via USSD codes or through their official website.
  • You don’t need collateral to get a loan.
  • You can get loans as low as N500 and maximum of N500,000. The loan limit can be increased by continuous lending to others and paying up your loan on time.
  • The loan interest rate ranges from 5% to 25% depending on the loan requested.
  • You can enjoy a loan term of 14 days to 30 days. This can be affected by engagement on the platform.
  • You can enjoy their affiliate system, refer friends and enjoy the token involved.




RenMoney is another urgent loan app in Nigeria. You can get an urgent loan in Nigeria without collateral using RenMoney. RenMoney is a quick loan app licensed under a microfinance bank.

RenMoney was created in 2013, it was formally known as Rencredits. They offer other financial services aside from giving loans. You can as well enjoy RenMoney investment services.

This will help you manage and invest your money better.

You can also save your money on this platform and also get additional Interest.

RenMoney operates in Lagos as of the time of writing this post. You must be 25-59 years old before you qualify for a loan from RenMoney. In addition, you must have a stable source of income and a savings account.


Features Of RenMoney Loan App


  • Offers loans up to N4 million naira
  • RenMoney loan term is for 12 months maximum
  • It offers an interest rate of 35.76%
  • RenMoney have an app through which you can use their services


Palmcredit Loan App


This is one of the most popular apps that give instant loans in Nigeria. Palmcredit is an Android app that offers its users the opportunity to get a loan. They are mobile financial institutions. Palmcredit is not like other loan apps that you can request a loan via their website. Here everything is done on their mobile app.


Best loan app in Nigeria


You can download the palm credit loan app from the Google play store easily. You must be 18 years to use this loan app. They offer loans from N2,000 to N100,000 naira. This limit can be Changed/increased by getting engagement on the app. Paying off your loan on time and lending to others.


Features of Palmcredit Loan App


  • To qualify for a loan, you must be 18 years and above.
  • Enjoy loan limits ranging from NGN 2000 to NGN100,000.
  • Every loan duration is between 91 days to 180 days.
  • Loan interest is between 14% to 24% while the annual loan interest is between 48% to 56%.
  • All loan application is done on the mobile app.


Paylater (Carbon)


If you are searching for the Best Loan app in Nigeria 2021 and Pay later is not included, The list is not complete. Paylater popularly known as carbon or getcarbon is a loan app that helps you control your finance.

They provide loans to individuals and business owners with few clicks. If you are looking for a way to get a loan without much stress (processes) or collateral then Paylater is the best option.

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Aside from providing loans, carbon or Paylater also allows you to save money on their platform and carry out bank transactions with no or fewer charges.

You can use Paylater to make payments like recharge cards, bills including your NEPA bill, and other services. It is very easy to get a loan from Paylater. You can download their mobile app from Google play store.


Features of Paylater Loan App


  • Paylater offers an interest rate of 1.75% – 30%. Depending on the plan you are getting loan from.
  • All loan services are done on their mobile app.
  • Get a loan instantly without collateral.
  • Enjoy rewards by using the app for bank transactions like sending money and paying bills. You can as well save money on the app.
  • Loan repayment can be done through carbon wallet, debit card, quickteller, and direct transfer.
  • Offers a loan of up to NGN1 Million naira or Ksh 30,000.
  • Increase your loan limit by on-time payment of a loan.


Branch loan


Branch loan is another quick loan app in Nigeria. They offer a quick loan to her users to repay later.

Just like other loan apps, a branch loan doesn’t require collateral before you get a loan. Download the mobile app, and complete the necessary registration steps. Make sure you provide your phone number, bank verification number, bank account number, and Facebook account details. Then you are good to go, this will qualify you to get a loan from this app.

After verification of your identity, the branch loan will not review and consider if you are qualified for the loan or not.

You can download the mobile app from Google.


Features of Branch Loan


  • Enjoy loan offers ranging from NGN1,000 to NGN200,000. Your loan limit can be increased by engagement on the app. This includes on-time repayment of loans and lending to others.
  • The Loan Interest rate ranges from 14% to 28% with the monthly interest between 1% to 20%.
  • They have a flexible method that you can use to repay your loan.
  • You can repay your loan through a debit card, with cash at a GTbank branch.
  • They have an affiliate program that gives you the opportunity to earn by referring friends to use the app. You must meet referral requirements before you earn the token involved.
  • Their operation is restricted to Lagos resident


Quickcheck Loan App


A quick check is one of the best apps for getting a quick loan in Nigeria. They offer easy steps to get a loan without collateral. Your loan request will be approved within 24 hours if you meet their requirements.

You can download their mobile app from the Google play store. Register and verify your identity as needed. You are free to apply for the loan. As a new user, you are qualified for a loan of 10,000 naira to repay within 30 months.

Quickcheck only provides loans for individuals and not for small business owners. So get the loan as an individual. They also offer a flexible method to repay.


Features of QuickCheck ( Best Loan App In Nigeria 2021)


  • Offers instant loans to users
  • Has a mobile app through which all the loan services can be accessed.
  • Their mobile app is user-friendly, you can navigate and use it easily as a beginner.
  • Enjoy a quick loan of NGN10,000 as new users for a duration of 30 months. You can increase your loan limit by on-time repayment of loans.


Aella Credit


Aella Credit is a big mobile financial institution that offers a lot of services. Which includes loans, investments, paying bills, micro-insurance plans, and peer-to=peer donations.

Aella credit is not just a loan app. This makes them different from other loan apps. They have many financial companies with varieties of financial products and solutions.

You can access their services and products via their mobile app. It is available for both Android and iOS users.

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Features of Aella Credit Loan App


  • Offers loan sizes ranging from NGN 1,000 to NGN 4,000,000
  • Loan terms range from 1 to 2 months and 2 to 6 months for in-network users
  • Interest rates vary from 4% to 30% based on the borrower’s profile




This is another quick loan app in Nigeria. You have been searching for a Mobile loan I. Nigeria? Fairmoney is a must-make choice for you. Their services are appealing and attractive.

They have various loan plans good for business and salary earners. They are easy to use, fast, reliable, and free to use.

Best loan app in Nigeria


You can get a loan up to NGN500,000 without collateral. The loan will come with a flexible repayment plan.

FairMoney doesn’t give loans only. You can use the platform for transactions with your business partners. Pay bills and recharge your phone using FairMoney


Features of FairMoney Loan App


  • Each loan duration is for 180 days.
  • They offer Interest rates ranging from 10% to 30%.
  • Has an affiliate program that allows you to earn when you refer your friends.
  • Offers loans ranging from NGN 1,500 to NGN 500,000.
  • Has a flexible plan for each loan repayment.


Soko Loan App


Sokoloan is an instant loan app in Nigeria. They offer the services of quick loan apps. Soko Loan App is a product of Soko lending Company Limited, a microfinance institution. They aim of increasing financial opportunities for the masses.

You can get a loan from this app without collateral. On-time repayment of loans before the deadline and engagement on the app increases your limit of loans.


Features of Soko Loan App


  • Sokoloan app is currently available on Android devices. You can download it from the google play store.
  • The interest rate of 4.5% to 34%
  • Offers a loan duration term of 7 days to 190 days.
  • Offers loans within the range of NGN5,000 to NGN100,000.



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Wrapping Up


I have reviewed many Mobile loan apps that can give you quick loans in Nigeria. So, if you need an instant loan in Nigeria, I am sure you know where to get it now.

These apps are good and great in their way. You just have to find the one that suits you.

I believe that I have answered your questions. And you have gotten your best loan app in Nigeria.

Did I miss any loan app? Yes, guess I did. Use the comment box below to let me know. Better email me.

Do you have a question? Drop it using the comment box below, I will be glad to reply to you.

Thanks for visiting.

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