Find out the best and trusted loan apps in Nigeria to get funds right to your android or iOS smartphones. So, if you are planning of getting a loan to solve one problem or the other, then these top 10 best Nigeria loan apps are highly recommended for you. Just follow the write-ups to see the one that is best for you. Getting a loan from the bank or any cooperate institutions usually used to be stressful with many conditions attached to it.
So how does loan apps work?
This is how loan apps work; first, download the loan app from the google play store or the apple store. Install the app on your phone and fill in the registration form with your correct details or any required document that will be required by the loan app.
Some of the requirement may include your name, contact information, BVN, your monthly income and your desired loan amount.
Your credit scores are one of the main factors that affect the interest you will get for most loans. Having a strong credit scores shows that you are likely to pay back. So, once your loan has been accepted it will be credited to your bank account. Make sure to pay back the loan before the given date to gain more trust.
Advantages of using loan apps
Using loan apps has so many advantages, here are some of its advantages
- No collateral
- 24/7 availability
- You don’t need to present any paperwork
- Flexible payment options
Top 10 Best Loan Apps in Nigeria For Online Lending
Carbon is one of the best loan apps in Nigeria, it is formally known as PayLater. This app is very easy to use and you can get up to N1 million as loan. You don’t have to a guarantor or collateral before you can get a loan from this app.
All you have to do is go to your respective app store to download the carbon loan app into your mobile phone device. Then fill in with your personal details on the registration’s options make sure all your details are accurate. After you are done with the registrations process you can now apply for a loan. The loan process is fast and you can get your first loan within minutes.
Their interest rates ranging from 5% to 15% depending on the amount and the repayment period.
The carbon loan app can also be used to make payment such as Bills, recharge your mobile device or to transfer money.
You can visit the official website of Carbon Loan app or Google PlayStore to download.
This is another app that offers quick loans for users who are interested in taking small loans. Fair Money gives up to N500,000 as a loan with a repayment period between 60 to 180 days depending on the amount you borrowed with an interest rate of 10 to 30 per cent which is very good.
You can also use the app to pay for airtime, data, cables, and so on.
Download the Andriod Version
With this app, you can an instant loan of up to N100,000 in Nigeria with just a few clicks. Plamcredit is one of the popular loan app credit among many Nigerian youths. The app is very easy to operate and use. To use this app, you must be above 18 years of age to be eligible to lend money from the PalmCredit app.
PalmCredit gives up to N2,000 to N100,000 loan which is definitely low compare to other loaning apps. The duration period is between 91 to 180 days to pay back with an interest rate from 14% to 24% depending amount or tenor.
Branch Loan App
Borrowing money from this app very easy and simple and can be done with minutes. Just other apps we have listed, Branch does not require any paperwork or collateral before a loan can be given to you.
All you have to do is go to the google play store or the Apple iOS store to download the branch loan app and create an account with them. Then apply for a loan and you get your loan, it is as simple as you think.
The duration for the loan is between 4 to 64 weeks with an interest rate ranging from 14% to 28%. No late charges or rollover fees on the loan you get. The loan limit may increase if you repay your existing within the given period you are asked to pay. Branch can give up to N200,000 as loan.
This is another popular and trusted online mobile app in Nigeria that gives up to N200,000 quick loan. To get apply for your own loan on Quick Check, the first step you need to take is to download the app from the Google PlayStore, Sign in with your personal details or Facebook Account.
After signing up with Quick check, you can now apply for a loan and once your loan is approved, they will credit the money directly to your bank account.
One good thing about this app is that you will choose when to pay back.
This is another loan app that cannot be left out on our list. Just like any other loan app we have reviewed SokoLoan also offer quick and short-term loan to users who are members on the SokoLoan loan app platform.
The Soko Loan App is a Microfinance institution initiative that was set up to help the poor in all financial aspect and to also help low-income entrepreneurs.
SoKo loan is not just after making profit but to solve financial issues among the less privilege. So, to have access to this opportunity, you have to download the app from your respective app store. Then fill in with the necessary details that will be asked on the Soko Loan App, after that is done you can now apply for a loan once the loan is approved it will be sent your bank account.
The next on my list is Aella Credit, this app is for both individuals and small-scale business entrepreneurs who intend to borrow money. This app comes with the following services like; investment, pay bills, peer to peer donations and micro-insurance schemes.
Without wasting time just download the app from Google or Apple iOS store and then fill in the registration form with the necessary information that will be asked.
KiaKia Loan App
This is another trusted app to borrow money from; KiaKia means “Fast Fast” this slang is common among the Yoruba people. You can get a business or personal loan of N100,000,000 which makes this app of the biggest loan apps in Nigeria. You just need to answer a few questions and you are good to go.
KiaKia App also has an investment section where you can earn between 12% to 40% monthly or yearly.
The 9th on the list is CreditVille, CreditVille is another trusted app that has lent out millions of naira to Nigerians who are in urgent need of money.
You can get a loan of N100,000 or more at CreditVille for 18 Months without collateral to be able to meet their financial needs.
Visit the CreditVille website to know more about this app.
The last on my list is Jumia One, Jumia One is a product of Jumia. As you already know jumia is one of Online store in Africa which makes this app one of the trusted loan app in Nigeria.
To get a loan from Jumia One you first need to download the app first from play store or iOS store depending on your device, sign up and log in, provide all your necessary information and wait for your details to be approval.
Disclaimer: Please make sure to read the term and condition before applying for any of these loans we have mentioned above.