How To Get Instant Online Loans in Nigeria: 16 Best Loan Apps In Nigeria


In Nigeria, there are various options for obtaining an urgent loan. You may now acquire a rapid online loan within 24 hours, or sometimes in less than five minutes, on numerous loan applications thanks to the growing number of digital service financial platforms offering quick loans to potential customers.


We decided that it would be incredibly helpful to have a platform where you can compare requirements and interest rates from 50+ loan applications in Nigeria since there are so many lenders offering loans within 24 hours.


With the help of modern digital technologies, which make borrowing easier and more comfortable, traditional financial services companies are now being disrupted.


Let's look at a list of loan companies in Nigeria in no particular order. There are no hidden fees, and you can compare loan offers from various online lenders here. The list below was created based on popularity and acceptance by the general public.


Some of them, nevertheless, will require a strong credit rating before you can apply for a loan. You may learn how to easily raise up to N10,000,000 in financing for your business.


Instant online loans without collateral are offered via loan applications in Nigeria.

Here is a collection of Nigerian loan applications that give you rapid access to all different kinds of loans. Click on any of them to go to that section.


  • Loanspot
  • Renmoney
  • Carbon
  • Branch
  • Credit to Aella
  • Fairmoney
  • Migo
  • Lidya
  • Kiakia
  • Community Lender
  • QuickCheck
  • C24 Loan
  • Credit Loan
  • Loan Specta
  • Jumia Lending
  • Loan Opay



1. Loanspot



One of the top loan apps in Nigeria, Loanspot offers quick loans to consumers. The purpose of this platform is to make it simpler for enterprises, entrepreneurs, and regular people to obtain loans that will improve their standard of living.


On that basis, they created this platform to connect you with a number of lenders throughout Nigeria by enabling you to quickly compare loans from various lenders. You can always find a lender on this platform who can fulfill your needs, which is wonderful.


They used the marketplace approach to prototype this platform. Loanspot exists to assist you in gaining access to credit choices at a lower cost, much like Uber, which enables you to obtain affordable transportation with the push of a button.


In fact, Loanspot assisted more than 180,000 people get information on loan products as of the writing of this article.


App Features



At the time this post was written, the Loanspot app was not accessible. The software should be accessible for download on the Google Play Store and the iOS App Store shortly.


2. Renmoney



One of the loan companies in Nigeria offering microloans up to N4 million is Renmoney. Your company must have a solid track record of income statements and be able to demonstrate consistent monthly revenue in order to qualify for a Renmoney SME loan. The monthly interest rate is 2.8%, and the minimum borrowing amount is N100,000.


The platform also streamlines the process of obtaining funding for capital-intensive firms, such as a real estate firm in Nigeria.


App Features


Access to all Renmoney Services Immediately. These consist of investments, savings, and payday loans.

You can use the app to transfer money between different bank accounts and your Renmoney account.

The download size is 7 MB.






The Renmoney loan application offers a fantastic user interface and a highly responsive page.

opportune and safe

The highest security and privacy standards were used in the app's design.

The app's loan application process is simple and hassle-free.






Once a loan application is submitted, there is no way to cancel it.



3. Carbon




Carbon Loan, formerly (and widely known as) PayLater, is a lending platform that enables you to obtain a loan in Nigeria within a short period of time. The three-year-old lending application takes pride in being "a straightforward digital finances management platform" that offers immediate online loans to support you in meeting short-term cash requirements.


To calculate the value of your loan, the site uses your Bank Verification Number (BVN). It offers loans up to N20 million with variable interest rates. If you no longer have your information, see how to check BVN.


Both mobile apps and the web offer Carbon (Android and iOS). Depending on the loan payback duration and the amount you want to borrow, their rates might range from 5 to 15%.


In addition to being one of the leading loan providers in Nigeria, Carbon offers a platform that lets its users transfer money, recharge their airtime, and pay their bills.




Website for carbon

App Features

Free money transfers to any Nigerian bank.

Access to Carbon Services Right Away. This includes saving, investing, paying bills, and borrowing between N1500 and N1 million.

Savings interest of 11%

accessible for download from the iOS app store and Google Play. The download size is 21 MB.






The app offers carbon financial services around-the-clock.

Easy and safe loan application

The bank transfer happens quickly, and the fees are reasonable.






There are issues in the app. However, the majority of the app's bug problems are typically fixed by an update.


4. Branch



Another website that provides speedy online loans in Nigeria is Branch Loan. Within 24 hours, you can apply for loans ranging from $1,000 to $200,000 with repayment terms of 4 to 40 weeks.


Because of how it functions, it is likely one of the most dependable lending apps in Nigeria. Its interest rate fluctuates between 15% and 34%.


You don't need any assets that can generate revenue or serve as collateral in order to be a borrower. The lender's history of repayment and the cost of lending to Branch are two variables that affect interest rates.


Nigerians now have simple access to loans from anywhere in the nation without a physical presence or security.





App for Branch Loan

App Features




accessing branch loan options quickly

The app offers a great saving option that lets you save and get a return of up to 20%.

Free Transfer to Any Nigerian Bank.

Pay all bills with Naira 0.00

The app may be downloaded from the Ios Store and Google Play. The download is 7MB in size.







The application is simple and easy to use.

Data encryption and world-class security are used by the Branch Mobile app to protect user information.

The user interface is elegantly designed and simple to use.



5. Credit to Aella



In Nigeria, there is an app called Aella Credit that provides loans to workers with interest rates ranging from 4% to 29% per month and amounts ranging from 1500 to 700,000. The Philippines, Ghana, and Nigeria all offer Aella Credit. The Bank Verification Number is one of its prerequisites, just like other platforms. Its loan term is between one and two months.




Website for Aella

In-App Feature



Access to loans in 5 minutes is quick and simple.

Bill-Paying functionality. You can pay for things like airtime recharges and utility bills.

Care for Aella using a mobile app to gain access to health insurance

Notes from Aella The software allows you to invest and earn rewards of up to 26%.

The app may be downloaded from the Ios store and Google Play. App size is 5.3MB.






With new users in mind, the app is simple to use.

To make any transfer, you are not required to pay an agent or convenience charge.



6. FairMoney



A certified loan app called FairMoney provides rapid loans to cover demands like bill payments. To get a loan (from 2,500 to 150,000), you need your debit card and bank verification number. Depending on how much you borrow, FairMoney's loan interest rates might range from 5% to 28%. Additionally, the loan length extends from four to twenty-six weeks.


On FairMoney, you would pay back your loan at a lower interest rate if you did so before the due date.




Website for FairMoney

App Features



Accessing Fairmoney Loan alternatives is simple and quick.

Send money to any Nigerian bank account.

Invoice number. You can obtain an account number with this software, which you can use to receive funds from any account in Nigeria.

payment of bills






The app's loan processing is simple and hassle-free.

The software is simple to use and designed with new users in mind.

attractive user interface




7. Formerly Kwikmoney, Migo




A platform where you can get a quick loan in Nigeria was created through a partnership between businesses, banks, and other technology companies. This platform is called Migo Loan. You can get up to N500,000 in immediate collateral-free loans by providing your Bank Verification Number (BVN) and account number.


You can use the loan app or Migo's web interface to access their lending services. You can use the Migo USSD code if you don't have a device that can access the internet.


The USSD code for loans in Nigeria can be found in this post.


You have between 14 and 30 days to return your loan, and Migo charges a fee of 5 to 15%, depending on how much you borrow.


It offers cutting-edge financial services to the mass retail market, which is underserved financially. It's a straightforward digital finance management tool that offers quick cash loans to aid with unforeseen costs or immediate cash demands.




Website for Migo

App Features



8. Lidya



One of the top loan providers in Nigeria is Lidya. It began operations in November 2016 with the goal of bridging the credit gap in Nigeria and other emerging markets.


If all prerequisites are met, businesses applying for loans at Lidya can do so online or via their mobile device and receive a decision within a few hours.


At Lidya, loans start at N150,000 and go up from there, with a monthly interest rate of 3.5%.




Website for Lidya



App Features

Simple and intuitive design

fast-responding system

Option for financial management


 What is needed to be qualified?



Companies or people that can demonstrate consistent cash flow over the last six months





easy access to loans

Quick time for payment

There is no need for guarantors or collateral.







The maximum loan amount is determined by your credit score, thus it is typically minimal.



9. Kiakia




A loan can be obtained through the KiaKia Loan platform in Nigeria for both individuals and businesses. The lending platform, which is supported by Sterling Bank Plc, also enables savers to loan out money through simple discussions at agreed-upon interest rates. Its monthly interest rate is 3.5%, and the minimum borrowing amount is N50,000.




Website Kiakia



App Features

amazing P2P lending opportunities

Rapid response and speedy loan approval



Who is qualified?



For a Kia Kia loan, you must fulfill the following criteria:


being a Nigerian citizen

Over 21 years old

The applicant must have a bank account with a major commercial bank and a Bank Verification Number (BVN).

proof of a legitimate source of income (paid employment or business)

Valid forms of identification, such as a Work ID for applicants who are employees

bank statements or screenshots of notifications over the past six months are acceptable forms of income documentation.






Quick loan disbursement

simple loan application procedure

There is no need for guarantors or collateral.






Only those with steady employment or income are eligible for loans.

Your employment status and income level will determine the maximum loan amount.




10. Community Lender




An online, social, and mobile lending service called Social Lender is built on social reputation. It helps those with little access to formal credit fill the gap of immediate fund access.


Social Lender assigns a social reputation score to each user after conducting a social audit of the person on social media, online, and other relevant platforms.




Website for social lenders



App Features

Release 1.3.0

Updated on April 19, 2021

10,000+ downloads

Size of Download: 11.50 MB

App is accessible on both iOS and Android.




Who is qualified?




Candidates must have a positive social reputation score, which is determined by logging into the app with your social media accounts.








It enables access to urgent loans.

simple application procedure using a mobile app

Optional USSD application

There is no need for guarantors or collateral.








Your social network accounts must be accessible for the app to rate you.

N10,000 is the relatively small maximum borrowing amount.

Your ability to borrow more is largely influenced by your social standing.



11. QuickCheck




In Nigeria, QuickCheck offers a quick online immediate loan of up to NGN 500,000. However, during your first 30 days as a user, you can only access up to N10,000.


Early repayment of loans, according to their repayment terms, ensures reduced interest rates and bigger amounts. In addition, interest is only charged on loans for the days they are actually used.


For security and verification reasons, QuickCheck, like other loan platforms, needs your BVN; for the disbursement of your authorized loan, QuickCheck also needs your bank account number.




Site QuickCheck




App Features

Release: 4.3

Updated on June 23, 2021

Downloads: over a million

Size of Download: 16.25MB

Provided By: borrow money

Published on: July 5, 2016



Who is qualified?



Your credit score is used to assess loan eligibility after you've registered and provided all the required information.





There is no need for guarantors or collateral.

Rapid distribution following loan acceptance, taking only a few minutes.

convenient platform







a N200,000 maximum loan amount

up to 30% in high interest rates




12. C24 Loan




Another website where you can obtain an urgent loan in Nigeria is C24 Loan. Their application form may be finished in under five minutes, and you will receive application feedback very instantly.


They have a flexible repayment schedule, so paying them back won't break the bank.


The loan platform states that it has provided credit facilities totaling more than NGN 5 billion to more than 150,000 consumers.




Website C24

App Features

enables quick cash, personal loans, and business financing

Calculate loans

User-friendly and simple to use platform

Who is qualified?

Individuals and proprietors of businesses

People who live and work in Lagos are the only ones eligible for personal loans.

Minimum age of 22 and evidence of stable income from your most recent six-month bank statement

Good credit history and a working bank account for pay








Maximum loan amount of N1,000,000 is somewhat high.







Lots of paperwork is needed for application and registration.

rather long time to disburse loans




13. Credit Loan




You have access to low-cost loans thanks to Fint Loan. Once you register your business on the FINT employment model, this lending company in Nigeria allows you the chance to borrow money for as little as 2% per month to pay your rent, utility bills, medical expenses, and education expenses for both you and your coworkers.




Good Website




App Features

An incredible tool for finding investors for your business




Who is qualified?



Lending is restricted to verified business owners.








It provides a platform for companies to obtain nontraditional investment.

Fint assists investors in finding high-value companies to purchase and profit from.





long procedure of verification

Due to the fact that Fint is more of an investor than a company platform, the level of competitiveness is extremely high.




14. Loan Specta




If you need an emergency loan in Nigeria, turn to Specta Loan. The business provides three different lending packages, including:


MySpecta offers five-minute loans up to NGN 5 million.

SpectaScore is a tool for evaluating your credit and predicting your net worth.

For obtaining business loans, use Specta4Business.



Website for Specta




App Features

Release 13.0.1

Latest Update: June 16, 2021

50,000+ downloads

Size of Download: 11.43 MB

Sterling Bank Plc is the provider.

Release Date: February 13, 2020

Who is qualified?

evidence of a consistent income within the last six months

Age requirement of 21

The applicant must have both a salary account and a BVN.






does not call for a guarantor or security

After loan approval, quick distribution of around five minutes is required.

Customers with accounts outside of Sterling Bank are eligible.

Loan amount is relatively big, up to N2 million.






high interest rate, ranging from 26 to 30% annually



15. Jumia Lending



Jumia developed this platform for quick cash loans so that customers may get loans right away. The JumiaPay Android app on the Google Play Store provides access to the Jumia loan.


Simply download the app, navigate to the "financial services" area, and enter your information. If your request is granted, you won't need to provide any security for the loan. Consider a Jumia loan the next time you're trying to figure out how to secure a loan.




Jumia Lending



App Features

Release: 4.5.0

Accessed on: May 10, 2021

Downloads: over a million

Size of Download: 11.81 MB

Published on: September 8, 2017

Who is qualified?

You must fulfill the following criteria in order to be eligible:

You must be in possession of a Jumia account.

BVN-enabled, operational bank account






does not call for a guarantor or security

simple application procedure

Quick time for payment

3.5% is a low interest rate.






Maximum loan amount is relatively little.



16. Loan Opay



This is a lending platform that is mostly known as the Okash loan and is owned by the tech behemoth Opera. They have established themselves as one of the leading loan providers in Nigeria right now.


Simply download the Okash mobile app, create an account, enter your information, and wait for approval to get a quick loan. Within 24 hours, you'll receive your loan.




Loan Opay



App Features

Release: 1.3.8

Accessed on: June 9, 2021

Downloads: over a million

Size of Download: 11.86 MB

Blue Ridge Microfinance Bank Limited is the provider.

Posted On: November 28, 2019



Who is qualified?



The prerequisites for eligibility are:


The applicant must reside in Nigeria.

Candidates must be between the ages of 20 and 55.

possess a reliable monthly income and a good justification for needing the loan.

Having a valid ID and BVN number

What are the app's benefits and drawbacks?








easy access to loans

Maximum loan amount is rather little at N50,000.







a significant annual interest rate of up to 36%

selecting the appropriate loan for you

Nowadays, there are an infinite number of loans available, making it difficult for consumers to choose the best and most appropriate one. Numerous elements, including the rate, tenor, and general terms and conditions, must be taken into account when making this choice. The loanspot Africa platform makes it easy to compare loans and suggests the best ones for you, which simplifies the situation. To start now, just go to


Questions and Answers

When it comes to instant internet loans in Nigeria, some of the most common inquiries are as follows:


1. How do I become loan-eligible?



The lender often specifies the requirements for a loan. In essence, all you have to do is go to their website and read the terms and conditions for the specific loan you're interested in. Lenders typically establish requirements based on income, credit score, assets, and collateral. This means that certain lenders are less strict than others when it comes to loan qualification, and Loanspot Africa is one of them.


2. Before disbursing a loan, what do banks examine?



Most banks begin by investigating your credit history and rating. They then decide whether to approve your loan application based on how shiny or unattractive it looks. They also take into account things like your income, place of employment, possessions, net worth, and more. Each bank has its own set of specific criteria that they take into account.


Loanspot Africa is the place to go if you need a platform to obtain loans without onerous checks. They provide legitimate loans with the fewest requirements and background checks.


3. What would happen if I was unable to repay the debt when it was due?



Depending on your agreement, the specific penalty that results from failure to repay at the appointed period will vary. The penalties are often outlined in the loan terms and conditions and are implemented after a default. Most lenders either raise interest rates or liquidate collateral.


The good news is that does not demand collateral and does not resort to using force to collect repayment after the deadline has passed. They operate a flexible repayment plan as a result, ensuring that you practically never miss the due date.


4. What inquiries would I be subjected to when I apply for a loan?


When you apply for a loan, lenders are free to inquire about any aspect of your finances, business, or lending intent. These topics frequently come up in the inquiries, which are crucial to the outcome of your loan application.


However, contemporary lenders today, like loanspotafrica, ask few questions and prioritize getting the loans to you as soon as feasible.





There are numerous additional ways to obtain loans without a requirement for collateral. With platforms like Quickteller Loan, Page Financials, and Palmcredit Loan, fintech companies are clearly in the lead when it comes to accessing rapid loans and providing answers to the question, "Where to borrow money in Nigeria." As the needs of the consumer changed throughout time, they continued to update and improve their services.


Money can now be borrowed easily. We've included a few of the best websites in Nigeria where you may apply for loans.


Yes, it is possible to obtain a loan in Nigeria without putting up any security. Simply browse the list and select your chosen lender.


There are variations in the maximum amount you can borrow. There are distinct borrowing caps for each lender.


Your loan request may be approved by some of these lenders in as little as five minutes.

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