Top 15 Best Loan Apps In Nigeria 2023 ( Get ₦500,000 Instantly )

Do you need financial aid from loan organizations, and you want to know which one that ranks among the best? Don’t worry you will find your answers here. It’s normal to make research about loan apps with swift payment, low interest rate and high loan allocations. There are some loan apps out there that only give little loan allocations with a high interest rate, we don’t want you to fall into the hands of that type of organization, that’s why we have taken it up to ourselves to write this content so as to enlighten you more. 

In recent years, the growth of loaning services  in Nigeria has really been improving , they now have tons of mobile loan apps out there. Since you request these loans on apps, you won’t have to worry about paperwork, or having the need of a collateral or a guarantor. This has given people looking to start a small scale business a chance of collecting loans to fund their business. In this content,  we will be discussing the top 15 best loan apps in Nigeria, based on  interest rates, loan amounts, repayment terms, and customer reviews and other factors.

Loan Apps In Nigeria 


1. Carbon (formerly Paylater)


Carbon is the number one on our list of top 15 Best Loan Apps in Nigeria. The reason why Carbon is popular is because they offer a loan which is up to  NGN100,000. The loan expiry date is usually up to 7 to 30 days, however you have to pay an interest of 1.5% per day. which is relatively high. Carbon is especially popular because of their quick loan disbursement and easy application.


The second top loan app in Nigeria on our list is Fairmoney. Like Carbon, this loan app also grants up to NGN100,000. However their Interest rate which is 1% per day is nothing compared to carbon. FAIRMONEY should have been the no 1 loan app on our list, but their process is quite slow compared to carbon’s.

3. Palmcredit

Palmcredit third third on our list of top 15 best Loan Apps in Nigeria. Although palmcredit loan request is swift and easy, they can only grant loans of up to NGN50,000. Like Fairmoney, their interest rate is also 1% per day. Their repayment period is also 30 days. You don’t have to worry about getting confused when operating the app as their loan application process is easy  and swift.

4. Okash

The next loan app on our list is Okash. They also grant a maximum amount of NGN50,000. However their interest rate exceeds 1%. If you are requesting a loan from Okash, you will pay 1.5% per day, as interest rate. Okash repayment period is also not too friendly as it’s only 14 days. Although they have all these flaws, their application process is swift and reliable.

5. Aella Credit

Aella Credit is a loan app that can grant up to NGN100,000 to its user, and their repayment day is 12 months. Their application is easy and their interest rate is only 1% per month. 

6. QuickCheck

QuickCheck maximum loan approval is just up NGN50,000, however their interest rate is the downside of this loan app. The interest rate you will pay for the period of 14 days is 1.2% per day, which is similar to Okash’s. Their application process is not bad either. 

7. Branch

The number 7th loan app on our list is Branch. This loan app offers up to  NGN150,000 to its customers Their interest rate is just 1.5% per day which you must complete within the period of 64 weeks. The application process is swift and their app is easy to operate.

8. PiggyVest

PiggyVest is like opay, palmpay and the rest. It is not a loaning app, it’s rather a savings account app. However they also give their users an opportunity to borrow loans. Their interest rate is quite different from the other loan we have described so far. It’s 12% per year.

9. Renmoney

Renmoney makes way into our list because of their high loan disbursement rate of NGN500,000. You will be charged 18% every year. interest rate is 18% per year, Renmoney also offers a longer repayment period which is up to 36 months.

10. Credpal

With Credpal you can request for a loan up to NGN100,000. The interest rate is not that high as you only have to pay 1% per day. Their repayment period is up to 30 days. Which is why I think they should be on our list.

11. Kiakia Loans

Kiakia Loans is a loan app that offers loans of up to NGN50,000.

12. P2P Lender

Offers a loan amount up to NGN 500,000 with a repayment period of 6 to 24 months. The interest rate is 12% per annum.

13. QuickCheck

Offers a loan amount up to NGN 50,000 with a repayment period of 7 to 30 days. The interest rate is 1.5% per day. 

14. Migi (Now Kwikmoney)

Kwikmoney offers loan amount of up to NGN 100,000 with a repayment period of 7 to 30 days. The interest rate is 1.5% per day.

15. Kuda

Kuda loans are typically for small amounts, up to NGN200,000. The interest rates are relatively high, starting at 20% per annum. However, the application process is quick and easy, and you can get a decision within minutes.

To apply for a Kuda loan, you must first open a bank account with the bank. Once you have an account, you can apply for a loan through the Kuda app. The application process requires you to provide your BVN, your income, and your expenses.

How To Get Loan Online In Nigeria


With loan apps, you don’t have to worry about collaterals or guarantors. You won’t even be required to sign any stressful documents. To get a loan online, simply select any of the top 15 loan apps in Nigeria that we have listed above and download the app on Google store or play store. 


Loan apps have made loan requests easier for people seeking financial aid. These apps can be used to borrow money without having a guarantor or collateral. However you need to provide some details and fill an online form before your loan can be approved. Please do not hesitate to ask us questions if you have any.