In the past, people would run to friends, family, or the ever-judgmental “money lender” in the neighborhood. But times have changed. Now, all it takes is a smartphone, a few taps, and boom, money lands in your bank account like magic.
Welcome to the age of loan apps.
The rise of mobile lending platforms has completely transformed how Nigerians access short-term credit. Whether you’re a student trying to pay school fees, an entrepreneur funding inventory, or just someone trying to survive till the next salary, loan apps have become a financial lifeline.
But here’s the catch: not all of them are your friends.
Some will offer you decent rates and flexible repayment terms. Others? Well, they’ll chew you up with hidden charges and spit out your dignity when they start calling your contacts.
That’s why we created this no-holds-barred guide to the top 20 loan apps in Nigeria.
So, follow up as we you a loan app that works for YOU, not against you.
Top 20 Loan Apps in Nigeria – 2025
1. Carbon (formerly Paylater)
Loan range: ₦1,500 – ₦1,000,000
Interest rate: 5% – 15% monthly
Disbursement time: Under 10 minutes
Why it’s top:
Carbon isn’t just a loan app, it’s a full-blown digital bank. It delivers on all fronts, on airtime, savings and even investments. Its standout feature? No paperwork, no collateral, just your BVN and solid repayment history.
Unique bonus: Repay on time and unlock lower interest or higher loan amounts.
2. Branch
Loan range: ₦2,000 – ₦500,000
Interest rate: 1.5% – 20% monthly
Disbursement: Immediate
Why it ranks high:
Branch evaluates your phone data (contacts, call logs, location) to determine eligibility. While that sounds scary, it’s efficient and surprisingly respectful of privacy compared to some competitors.
What sets it apart: No late fees, no rollover fees, just straight lending.
3. FairMoney
Loan range: ₦1,500 – ₦1,000,000
Interest rate: 2.5% – 30% monthly
Disbursement: Fast, within minutes
Why we love it:
FairMoney integrates utility bill payments and airtime recharge, so you can do more with one app. It also uses your bank transaction history, not just your phone data, which makes the loan process smarter.
Tip: They offer discounts to repeat customers with good credit behavior.
4. PalmCredit
Loan Amount: ₦2,000 to ₦300,000
Interest Rate: 4% to 24%
Disbursement Time: As fast as 3–5 minutes
Why Everyone’s Talking About It:
PalmCredit stands out as one of the quickest loan apps in Nigeria. Its interface is clean and beginner-friendly, making it easy for even first-time users to apply without stress.
Extra tip: You can earn real cash by simply referring your friends!
5. Aella Credit
Loan range: ₦1,500 – ₦1,000,000
Interest rate: 4% – 29% monthly
Disbursement: Instant
Why it’s special:
Targeted more at salary earners, Aella Credit pulls its data from employer records. It’s low-risk and high-reward for white-collar workers.
Special feature: Credit score access and health insurance plans.
6. QuickCheck
Loan range: ₦1,500 – ₦500,000
Interest rate: 5% – 30%
Disbursement: 5–10 minutes
Why users like it:
Minimal documentation. It also uses AI to approve loans faster over time as it learns your financial behavior.
Fun fact: First-time users get a 0% interest loan (if repaid early).
7. Okash (by OPay)
Loan range: ₦3,000 – ₦500,000
Interest rate: 2% – 30%
Disbursement: Immediate via OPay wallet
What makes it stand out:
Okash benefits from OPay’s strong financial ecosystem. Your loan arrives straight into your OPay wallet, making transfers easy.
Heads up: You may need to allow phone data access for eligibility checks.
8. Renmoney
Loan range: ₦50,000 – ₦6,000,000
Interest rate: 2.8% – 9.3% monthly
Disbursement: 24 hours
Biggest strength:
Ideal for medium-to-high-income earners. Renmoney offers higher amounts than most loan apps.
9. Lendigo
Loan range: ₦100,000 – ₦10,000,000
Interest rate: Varies by business
Disbursement: 24–48 hours
Business owners’ favorite:
Lendigo is strictly for SMEs and business owners. It evaluates your cash flow to provide customized offers.
Extra: You can upload invoices and receive working capital instantly.
10. Sokoloan
Loan range: ₦5,000 – ₦100,000
Interest rate: Up to 45%
Disbursement: Fast
Why people use it:
It’s blunt, fast, and requires minimal info. Perfect for micro emergencies.
Downside: High interest. Only use if you’re repaying fast.
11. Migo
Loan range: ₦500 – ₦500,000
Interest rate: 5% – 25%
Disbursement: Instantly to bank account
Cool feature:
You can get a loan without installing any app, via USSD or partner websites.
Unique edge: Migo partners with banks like Access and 9mobile.
12. Xcredit
Loan range: ₦3,000 – ₦100,000
Interest rate: 12% – 30%
Disbursement: Within 10 minutes
Why it’s on this list:
Clean interface and automatic increase in loan limit for early payers.
13. JumiaOne Loan
Loan range: ₦5,000 – ₦200,000
Interest rate: 5% – 15%
Disbursement: Fast if you’re already using Jumia
Good for:
Jumia users who frequently buy and pay through the app. Easy onboarding for e-commerce lovers.
14. CreditVille
Loan range: ₦100,000 – ₦4,000,000
Interest rate: From 3.5%
Disbursement: Within 48 hours
Why it’s different:
You need a stable job, but you get high amounts and longer repayment plans, up to 18 months.
15. Kiakia
Loan range: ₦10,000 – ₦2,000,000
Interest rate: From 3%
Disbursement: 24–48 hours
What makes it “kiakia” (fast):
Peer-to-peer lending built on trust. Great for freelancers or business owners.
16. Zedvance
Loan range: ₦50,000 – ₦5,000,000
Interest rate: 2% – 4% monthly
Disbursement: 24–48 hours
Biggest win:
Salary earners love it for the low rates and long-term loans. It’s more “bank-like” in operation but more flexible.
17. NewCredit
Loan range: ₦1,000 – ₦300,000
Interest rate: 4% – 24%
Disbursement: 10 minutes or less
Why we included it:
Fast approval, minimal permissions, and an easy-to-use interface.
18. EaseMoni
Loan range: ₦3,000 – ₦1,000,000
Interest rate: Up to 24%
Disbursement: Immediate
Standout feature:
It targets new smartphone users, even in rural areas. Works well with 2G/3G connections.
19. Umba
Loan range: ₦2,000 – ₦300,000
Interest rate: 10% – 25%
Disbursement: Under 5 minutes
Unique appeal:
Zero paperwork and no service fees. Just link your BVN and go.
20. CashLion
Loan range: ₦5,000 – ₦300,000
Interest rate: 8% – 25%
Disbursement: Instant
Fresh on the block:
While relatively new, CashLion is quickly building trust for fast payments and reliable customer care.
Read: List of Fake Loan Apps in Nigeria
Conclusion
The top 20 loan apps in Nigeria we’ve reviewed are among the best for a reason. They strike a balance between speed, transparency, and respect for your privacy. They empower you, rather than trap you.
Still, a loan is not free money. Use it wisely. Borrow only what you can repay. And more importantly, ask yourself: “Is this really an emergency… or just poor planning?”
Because while
loan apps can help you today, the goal should always be to build a future where you don’t need them at all.
So, tell me, now that you know better, will you borrow better?
