Best 20 Apps For Mobile Loan in Nigeria 2023

If you are running your own business or are an individual, there is always the possibility that things will go wrong and there will be a need for an emergency fund.


An emergency fund is usually an emergency fund for business or personal use.

The ability to obtain an emergency loan in Nigeria has become virtually impossible in the past few years.

However, today, you can access a quick rundown of Apps for Mobile loans in Nigeria without placing any collateral.


All you have to do is download and install their app on your phone, and you can apply for a loan, usually without submitting any paperwork.

In this article, I will be listing out best apps for mobile loans in Nigeria which you can obtain loans from without any collateral or paperwork.

How To Get Loan Online in Nigeria

The swift and easy method to get an instant loan online in Nigeria is to get the needed loans via online loan apps/platforms. The mobile apps for online lending in Nigeria are the quickest way to get loans and within minutes your mobile account is credited.

Benefits Of Getting Online Loans In Nigeria

  • You Have Access 24/7
  • No collateral is needed
  • It is very fast
  • You receive money directly into your bank account.

How Does Loan App Works

  1. First, you will need to download the app or access it through the web
  2. Create or Signup with a valid email and phone number associated with a BVN
  3. Fill out a simple form in under 30 seconds and submit it for a quick eligibility assessment.
  4. Apply for a loan that meets your needs.
  5. Receive the loan into your account.

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20 Apps For Mobile Loan in Nigeria 2022

1. Carbon

Carbon is a digital bank that not only provides access to loans but also possibilities for investing, money transfer, airtime purchase, bill payment, and so much more.

All you have to do is get the app from the Google Play store.

Fill out your biodata, submit all of the required facts, including your BVN, and a loan amount will be computed and authorized for you based on the information you provide.

When it was initially launched, the Carbon app was known as the PayLater app. Carbon is the most common and preferred method for most individuals to borrow money online.

The program lends money to anybody, whether you are a student or a monthly wage worker, or even if you are an entrepreneur. Carbon is there for you when you need it, and receiving money is quick. They make it simple to obtain credit.

There is no requirement for guarantors or collateral for you to utilize carbon. You can apply for a loan 24 hours a day, seven days a week, and have cash deposited into your account within minutes.

Apps for Online loan

2. Fair Money

This is one of the best loan apps for students in Nigeria. Using your registered account, you may get a loan in minutes, buy airtime, and pay bills.

To begin, just register with the phone number associated with your BVN (an OTP will be sent to the registered number for verification).

You must include your contact information, as with any other loan application. Within minutes, cash will be deposited into your account.

Fair Money is secure and reliable, and they make getting loans and paying bills fast and easy.

As a student, you can also earn extra cash when you join their referral program.

You may apply for loans online for as much as ₦150,000 with FairMoney, and you don’t need any documentation, no collateral, and it’s completely stress-free to use the FairMoney Loan App to acquire loans.

3. Branch

The Branch loan platform is also one of the top loan applications in Nigeria, and the best news about it is that it doesn’t just operate in Nigeria; it also has operations in Kenya, Mexico, and India. This means that a trusted worldwide

The Branch makes it simple for you to obtain loans for your needs at any time and from any location.

Sign up in seconds, apply for a loan, and get your money deposited directly into your bank account. It’s a quick, easy, and dependable method to get cash amounts, even in emergency situations.

4. Aella Credit

Another loan app in Nigeria that assures speedy loans is Aella Credit, which offers loans up to 1 million with interest rates ranging from 6% to 20%.

The loan duration is 1–3 months with no late/rollover penalties.

You may get the software from the Playstore (Android), the App Store (iOS), Fill out all of the required information to utilize the app, and have access to fast loans wherever you are.

Make sure your details are valid and correspond to the information you provide, as incorrect details may prevent you from using the app.

5. Palm Credit

Palmcredit takes the top spot among the best loan applications in Nigeria. Palmcredit allows you to receive a loan for as little as ₦2,000 and as much as ₦100,000 directly from the app.

The PalmCredit loan app is available for download on the Playstore, or you may find out more information on any PalmCredit social media platform.

Its loans range from 91 to 180 days. The interest rate ranges between 14% and 24%. This implies that if you request a $100,000 loan for six months, your total payback amount will be $124,000.

6. QuickCheck

Quickcheck’s mission is to provide financial services to help people and businesses achieve their goals. However, as a first-time customer, you can obtain a loan of $10,000 for a period of 30 days.

With the QuickCheck app on your phone, you may acquire immediate loans directly into your bank account at any time of day or night. This is one of the top loan applications in Nigeria since their method of obtaining money is excellent.

You can obtain rapid cash loans with interest rates in the single digits at any time and from any location.


Alat by Wema provides you with access to rapid loans without the need for documentation or a visit to a bank.

Despite the fact that it is owned and managed by Wema bank, you can borrow up to ₦2,000,000 subject to specific restrictions and limitations.

8. Okash

Recall the widely known Opay app, where you could do transactions, purchase airtime, pay bills, and lots more all at the same time?

Okash is an Opay subsidiary that was formerly featured in the Opay app.

Okash is now an independent loan application in Nigeria, which means you can get the software from the Playstore (Android), the App Store (iOS), Fill out all of the required information to utilize the app, and have access to fast loans.

9. Kwikmoney

Obtaining a loan via KwikMoney is an entirely unique experience, as loans can be obtained without the use of the app. Loans are obtained through their website’s loan portal.

You don’t need any proof to have your loans approved in a matter of minutes. The sooner you return your loan, the greater the interest rate you can borrow the next time you use the site.

You can visit their official website to complete the loan in seconds using only your phone number and have the money deposited directly into your bank account.

10. Solo Loan

Soko Lending Company Limited, a microfinance institution, aims to enhance the chances for the poor to access financial services by offering financial services to low-income businesses, students who continue to learn, and others.

Soko Loan is an easy-to-use app that can be used at any time of day or night to obtain short-term loans in Nigeria.

The sooner you pay off your borrowed funds, the higher your loan limitations will be. As a student, You can always rely on the Sokoloan money lending platform/app to obtain instant loans in Nigeria.

11. Kiakia

The KiaKia Platform is another safe platform for borrowing money and getting instant loans in Nigeria. KiaKia literally means “very fast” in Yoruba country (Nigeria), implying that the procedure of giving money is quick.

As a businessman into a business and want finances to expand it, KiaKia Money is ready to provide loans.

You can receive loans from Sterling Bank, the official proprietors of Kiakia loans, by dialing *822# on your cell phone.

All you have to do is go to the Kiakia official website at any time of day to begin the loan procedure.

12. CreditVille

CreditVille is another money lending application for Nigerians. CreditVille provides cash loans to address immediate demands in any area.

At CreditVille, you may acquire loan offers ranging from ₦100,000 to ₦4,000,000 for up to 18 months with no collateral to suit your financial demands.

To apply for a loan at CreditVille, simply go to their official website and fill out the registration form.

You will receive your loan without any hassles as quickly as 4 hours after meeting the required conditions and documentation.

13. Blocka Cash

Blocka Cash offers simple and convenient loans for people in Nigeria. Blocka Cash is accessible in both the Android Playstore and the Apple App Store.

You could get a short-term loan on Blocka for as little as ₦5,000 and as much as ₦50,000, depending on your payment history.

However, you should be at least 21 years old to apply and participate. You may also be. You may be required to show a valid government ID. You may be required to show a valid government ID.

Check Out 15 Best Bank Loans In Nigeria Without Collateral

14. Lydia

Lidya was one of the first loan applications in Nigeria to provide access to a secured fast online loan in Nigeria to small and medium-sized enterprises.

The platform provides credit to enterprises ranging from ₦500 to ₦50,000. This loan amount is exactly what students are looking for.

Lydia evaluates the capital adequacy of any individual or company seeking a loan. This evaluation is used to provide a credit score that is unique to each organization.

Lydia also makes loans available within 24 hours or less. The loan tenure is determined by the loan amount, and multiple loans cannot be given at once.

Apps for Online loan

15. Page Financial

Page Financials is a CBN-licensed financial firm that provides personal loans in Nigeria.

The organization states that obtaining a loan from them is simple and straightforward and that they employ a flexible paperwork process.

Loan amounts range from ₦100,000 to ₦5,000,000, with monthly interest rates ranging from 3.76 percent to 120 percent, and annual percentage rates ranging from 29 percent to 120 percent.

16. Renmoney

RenMoney is also on the list of loan apps in Nigeria. The service was established under license from a microfinance bank.

It offers affordable loan services as well as other financial services such as investment services.

By investing in RenMoney, you can save your money and at the same time add additional interest to your capital investment.

To be eligible for a RenMoney loan, you must be between 25 and 59 years old, have a verifiable and legal source of income, have a savings account, and ultimately, must live or work in the cities where you operate.

17. Jumia One

Jumia One is a product of Jumia. It offers you instant access to microcredit accessible via a Jumia One loan application.

Jumia One is one of the reliable loan apps in Nigeria due to its parent company brand Jumia.

To get a Jumia One loan, you need to download the mobile app, register and apply, provide all the necessary information and wait a specific time before approving your application.

This is a top-notch online loan app, but it also has its issues as the service is only available through the mobile app.

18. EaseMoni

EaseMoni is a new loan app in Nigeria that offers Nigerians up to 1,000,000 Naira in personal or business loans.

All it takes to get started is your smartphone and BVN associated phone number. No need for any collateral or documentation.

EaseMoni uses Artificial Intelligence to analyze and determine your eligibility worthiness thereby making it easy to offer instant loans.

EaseMoni is legit, it is owned by BlueRidge, a Microfinance bank registered with CBN.

Interest rate ranges between 5% to 10% monthly with an annual interest rate of not more than 100%.

19. Fast Money

This quick cash loan platform was created to provide users with instant loans. Loan advantages include loans up to NGN 300,000 without any mortgage, a low-interest rate, and long-time repayment.

If a user chooses a 6-month loan and borrows NGN 1,000, FAST MONEY charges an interest rate of 4.4% per month. And the interest rate is 26.4%, they would charge you GNN 263 as the interest of the 6-month repayment period. The total amount of repayment is NGN 1,263.

20. Specta

Specta is an online lending platform that gives loans up to 5 million naira depending on individual creditworthiness. The interest rate is based on risk rating and it ranges from 25.5% to 28.5%. Using the Specta Loan App, you can actually apply for Personal loans, Wedding, Medical, Holiday, Project and Education Finances.

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Apps for Online loan


Obtaining instant loans online in Nigeria is possible with a multitude of apps; I cannot list them all, so I have listed the best 20 apps and platforms available to Nigerians for obtaining instant loans.

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It is important to remember that if you borrow money, especially for business purposes, you should carefully plan everything so that you don’t get into debt; if you borrow for personal reasons, you should ensure you are able to repay the money on time.

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