Top 5 Best Loan Apps In Nigeria 2021/2022 [Guaranteed!]

We bring to you the most accurate list of the top 9 best loan apps in Nigeria with which you can get access to instant credit for personal or business use. Yes, you can get these loans on your smartphone, either on Android or iOS devices.

Why would anyone need a quick loan in the first place? Struggling with finances and paying bills has become even more difficult, as many Nigerians have lost all or part of their income, especially during this global pandemic.

Don’t panic if you don’t have an emergency fund and are having trouble making ends meet; you’re not alone in your financial dilemma.

Though government economic impact payments may be helpful, you can also explore other ways to borrow money and get instant online loans to be repaid in a short period of time.

In one of our previous postings on how to borrow money online in Nigeria, we detailed the six procedures that would allow you to acquire funds using any of the lending applications in Nigeria that will be mentioned soon.

One of the first and most important steps is to access quick online loan platforms including any of the best loan apps in Nigeria that offer instant loans immediately after application, even without any collateral and when unemployed.

First, you’ll have to have a smart device (phone, tablet, etc.) to access the loan apps I’ll give in this list. Interestingly, there will be no large documents. You only need your smartphone to get your cash.

Top 5 Best Loan Apps In Nigeria For Online Lending
Here is a list of ten mobile loan apps popular in Nigeria.

Rank Best loan apps In Nigeria Ratings
#1 Carbon Loan App (Pay Later) 4.5
#2 FairMoney 4.5
#3 Palm Credit 4.5
#4 Branch 4.5
#5 KwikMoney (Migo) 4.0

1. Carbon Loan App
Loan apps in Nigeria – Carbon loan app

Carbon formally called PayLater is the first on the list of best loan apps in Nigeria.

It is a simple, entirely online lending platform that provides short-term loans to help cover unexpected expenses or urgent cash needs.

With just an Android device and basic requirements, you can apply for a Paylater loan 24 hours a day, 7 days a week with a quick application process that lets you know your status within minutes.

Carbon app currently offer two loan packages:

Pay later (loans available to all) and Pay later plus (loans for salary earners).
Pay later platform also allows you to make payments for recharge cards, bills including your NEPA bill and other services.
Like any instant online loan, you do not need any sort of documentation or collateral to apply and get approved, except an android phone to download and use the app, and a means of identification. With these, you are set to go.

Download Carbon Loan App and get up to #100,000 instantly!

You can get the carbon app from the play store or visit their official website to know more about Carbon (PayLater).

2. Fair Money App
Loan apps in Nigeria – Fair Money
Due to their excellent service, the Fair Money app is ranked second among the top best loan apps in Nigeria.

To complete a quick and simple application process, simply download the app from the Google Play Store, receive your funds (without collateral), and pay back within 15 days or one month.

You should be aware that there will be certain terms and restrictions associated to the loan, so make sure you read them before applying.

Fair Money’s app, in addition to providing loans, also allows users to recharge their phones and pay their expenses.

3. Palm Credit App

Another app for loans in Nigeria is the Palm credit app. Palm credit is basically an android app that provides loans to users of the app.

It is very easy and quick. Palm credit loan is limited to individuals that are 18 years and above, and the loan amount is within the range of #2,000 to #100,000

With just a few steps then you have everything in your control to get the loan you want.

All you need to do is download the Palm Credit App on Google Play store, fill in your details, you can sign up using your phone number or your Facebook account, and you will be able to complete the registration in a few minutes.

Also, Plamcredit gives reward offers for referring people to Palm Credit. Isn’t that amazing?

Register to get up to #100,000 loan from Palm Credit

4. Branch Loan App
Branch app
The Branch app is the third app on my list of the best loan apps in Nigeria. Borrowing money via a Branch App is simple and may be completed in as little as 10 minutes.

Branch, like the other loan apps described above, does not demand any type of collateral in order to obtain loans. To get a loan, all you need is your phone number or Facebook account, as well as your bank verification number and account information.

The Branch loan app allows you to borrow money for as little as #1,000 and as much as #200, 000 at reasonable interest rates.

To receive your loans, download the Branch App from the Google Play Store and fill in your personal and banking information.

On the dashboard, you will notice a loan offer; you must use this first in order to receive higher loan offers.

5. Kwikmoney (Migo)
Kwikmoney Migo App
Kwikmoney is also among mobile loan apps in Nigeria. It bridges the gap between you and your needs by making loans readily available.

The only thing you need is your Smartphone and your SIM registered to your bank account.

Here are two methods to get a kwikmoney loan

Method 1

Dial *561# on your mobile phone.
Select ‘Loans” and then “Request Loan”
Select the loan amount you require
Enter your bank details and within seconds your account will be credited
Method 2

Visit https://kwikmoney.com
Input your phone number in the text box
You will receive a verification code on your mobile phone, input the code in the text box provided
Click “Check Loan Offer” from the menu displayed
Select the loan amount you require from the list of offers displayed
Enter your bank details and within seconds your account will be credited.
All loans are payable within 14 days.