Best Quick Loan Apps in Nigeria. The swift and easy method to get a 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. The following are a few 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.
These are the benefits of using any of the loan apps to get quick loans in Nigeria for either business or personal use.
Banks and Microfinance Banks in Nigeria will also Lend You Money and sometimes the money borrowed can get to you very fast and sometimes it takes time. But there is always stress involved. Loan Apps in Nigeria
The Best Loan Apps For Quick Lending Money in Nigeria are:
OKash
Kwikmoney (MIGO)
RenMoney
Palmcredit
Paylater (Carbon)
Branch loan
Quickcheck
Aella Credit
Fair Money
KiaKia Loan
Jumia One
OKash
Okash is a subsidiary of Opay and is one of the best apps for quick loans. Though Okash has always been on the Opay app, it has now been moved to become a standalone app on Google play store.
Okash started operations in kenya in 2018 before spreading out to Nigeria.
To apply for a loan with Okash app, you need to first download the mobile app from Google playstore, open the app and sign up with your phone number, fill in your personal information after log in and then apply for the loan. This is how simple it is to apply for loan using Okash.
Key Features of OKash Loan
- Okash provides up to N50,000 maximum for a start (the more you lend and return the more your maximum limit increase)
- You can apply for loan using your credit card
- Okash offers a pay-back plan of 91 days to 365 days (this is a flexible payment considering the days)
- Offers an annual interest rate of 36.5% to 360%
Download Link: Okash Loan App
Kwikmoney (MIGO)
Kwikmoney is a quick loan app now rebranded to Migo. Migo offers a simple platform to enable users to apply for loan through their website.
To get a loan at Migo, visit Migo loan portal and enter your phone number, upon which you will be asked the amount of loan you are requesting and then enter your bank details for easy deposit of the loan.
This is also simple to use and doesnt require you to download any app. All processes will be carried out on the website.
Migo also offers a more simpler way to get a loan; as easy as just dialing a code the same way you borrow credit through your sim.
You can request for a loan loan on MTN, GLO and Etisalat by dialing *564# or by dialing *554*561# for Airtel.
Key Features of KwikMoney (Okash)
- The apps offers two flexible means of getting loans through USSD codes and through their website
- Migo does not have a mobile app but have a responsive website for application
- You do not need a collateral for getting loans from Migo
- Migo offers loans starting from N500 up to N500,000 (the maximum limit increase as you continue lending and repaying your loans)
- The interest rate ranges from 5% to 25% on the loans requested
- Migo loan terms ranges from 14 days to 30 days.(this differs based on your engagement on the platform)
- Has an affiliate system that rewards you with a lower interest rate on your loans when you refer a friend.
Migo Head office
The head office of Migo is located at 3B Adekunle Lawal Road, Ikoyi, Lagos, Nigeria.
Migo customer care number and email
The customer care phone number is +23417002274
Customer support email is support@migo.com
You can also text help to 561 from 9mobile line only
Migo code
The Migo code is *561#. With this code you can request loan, repay loan and access all the services.
Migo Website
The website is located at www.migo.money
RenMoney
RenMoney is yet another app for quick loans. The service was established under the license of a microfinance bank.
RenMoney was formerly known as Rencredits before there was a change of name in 2013.
RenMoney was formerly known as Rencredits before it’s name was changed. It offers a reasonable loan service along with other financial services like investment services.
With RenMoney investment you can save your money and also get an additional interest added to the capital investment.
To qualify for a loan from RenMoney, you have to be between the age of 25-59 years old, have a verifiable and legal source of income, have a savings account and lastly must live or work in cities they operate (and at the time of writing this post, they basically operate in Lagos)
Key Features
- Offers loan up to N4 million naira
- RenMoney loan term is for 12 months maximum
- It offers an interest rate of 35.76%
- RenMoney have an app through which you can use their services
Email – hello@renmoney.com Phone 0700 5000 500
Palmcredit
Palmcredit is basically an android app that provides loan to users of the app. This is unlike other loan apps on this platform that do have a website through which you can request for loans.
Apart from you downloading the app, there is no other way to request loans from Palmcredit which makes their service not flexible enough for users who do not have an android phone.
Palmcredit loan is limited to 18 years and above and the loan amount is within the range of N2,000 to N100,000 naira.
Key Features of Palmcredit
- Must be 18 years or above
- Loan limit range from NGN 2000 to NGN100,000
- The Loan duration is between 91 days to 180 days
- Loan interest is between 14% to 24% while the annual loan interest is between 48% to 56%
- Application is all through a mobile app
- Responsive mobile app for most phones
Download Link: Palm Credit App
If you have questions or further inquiries on the Palm credit app, You can contact the Palm credit loan hotline +234 700 7256 4357.
Paylater (Carbon)
Paylater also known as carbon or getcarbon is a loan app that makes it easy for you to control your finances with a few clicks by providing loans for individuals and small business owners alongside making it easier to invest your money online.
Carbon is one of the FINTECH company that enables you to also save money from all bank transactions you carry out.
Alongside providing loans for individuals, PayLater platform also allows you to make payments for recharge card, bills including your NEPA bill and other services.
This is one of the features that makes Paylater unique in its own way.
You can get the carbon app from the play store or visit their official website to know more about Carbon (PayLater). You can also call them on the phone using these numbers 01-460 9945 or 01-631 1215.
Key Features
- PayLater has a mobile app to use their services
- Provides instant loan without collateral
- Allows you to earn a reward while using your wallet for various transactions
- Loan repayment can be done through carbon wallet, debit card, quickteller, and direct transfer
- Offers a loan of up to NGN1 Million naira or Ksh 30,000
- It offers it services in Nigeria and Kenya for now
- Offers an interest rate of 1.75% – 30%
Download Link: Paylater App
Branch loan
Branch loan is an online quick loan platform that offers quick loans to users of Branch loan app.
Just like the other loan app listed here, Branch does not require any collateral to get loans. All you need to get a loan on Branch is your phone number or facebook account, bank verification number and bank account number.
Branch uses the data on your phone, sms messages, details of your bank account alongside the activeness of your account to decide either to give you a loan or not.
Key Features
- Offers loan from as little as NGN1,000 to NGN200,000
- Branch offers a loan term of between 4 weeks to 15 months
- Interest rate is between 14% to 28% with the monthly interest between 1% to 20%
- Offers flexible methods for the repayment of loans. Loans can be paid through debit card, with cash at a GT bank branch
- Branch has an affiliate program in which you earn a bonus whenever you refer a friend
- Branch loan services is restricted to Lagos
Download Link: Branch Loan App
Lagos, Nigeria
Quickcheck
Quickcheck is one of the best apps for getting quick loans as its name implies. It has actually been able to justify what their name really is.
You can get a loan if your account is approved within 24 hours which is amazing if you ask me.
To get started with the loan processing on Quickcheck, the first step is to download their mobile app, sign in with your facebook account details and fill in the necessary information in the provided box.
Quickcheck does not provide loan for small businesses only for individuals in need of money to keep surviving until the next payday.
With all these being said, let look at the key features of Quickcheck.
Key Features
- Offers instant loans to users
- Has a mobile app through which all the loan services can be accessed.
- Has a beautiful and user friendly interface on both the app and the webapp(a much more advanced website).
- Quickcheck offers loan up NGN10,000 to new users for a duration of 30 months.
Download Link: Quick Check App
Aella Credit
Aella credit is an all-in-one financial solution for both individuals and small businesses. The app offers the following product and services; loans, investment, pay bills, micro-insurance plan and peer-to=peer donation.
The products Aella credit offers differentiates from other loan apps. As Aella credit is not just a loan app but a full financial company with varieties of financial solutions and products.
That said, Aella credit products can be accessed through their apps. They have both the android apps for mobile users. The iOS version of the app is yet to be released.
The following are the key features of Aella.
Key Features
- Offers loan size ranging from NGN 1,000 to NGN 4,000,000
- Loan terms ranges from 1 to 2 months and 2 to 6 months for in-network users
- Interest rates vary from 4% to 30% based on the borrower’s profile
Aella is currently only available on android devices and this is a de-merit on their own part
Download Link: Aella app
Fair Money
Fairmoney is another best quick loan apps for users interested in taking small loans for short terms. The loans are not suitable to business owners but to salary earners looking to get their pay before the end of the month.
Fairmoney offers a fast, reliable and free mobile app through which their loan service is being done.
It offers a loan of up to NGN500,000 without collateral with no attached additional processing fee for the loans
Apart from giving out of loans, FairMoney also offers the airtime recharge and paying of bills services on their app.
Key Features
- Offers instant loans ranging from as little as NGN 1,500 to NGN 500,000
- Loan term duration is for 180 days
- It offers an interest rate ranging from 10% to 30%
- Has an affiliate program through which you can earn a program whenever you refer a friend
- Offers a flexible repayment of loans through installment
Download Link: Fair Money (Android)
Soko Loan
Sokoloan is another app that cannot be neglected when listing the best quick loan apps. The loan app is mainly created nothing else than to provide loans for individuals.
Soko loan is a product of a microfinance institution, Soko lending Company Limited with the aim of increasing financial opportunities for the poor.
Soko loan consist of passionate people who are not just after the profit but are pursuing a goal of solving financial problems among the less privilege.
To get access to this opportunity, you need to first of all download the sokoloan app, you then fill in the necessary details and get your loan delivered to your account provided that your account was approved.
Key Features
- Sokoloan app is currently availble on Android devices
- Offers loan within the range of NGN5,000 to NGN100,000
- Interest rate of 4.5% to 34%
- Offers a loan duration term of 7 days to 190 days
Download Link: Click Here to download
KiaKia Loan
Loan Apps in Nigeria – Kiakia is a mobile webapp that provides instant individual and small business loans. The word KiaKia is a yoruba which can be translated as “quickly, quickly”.
This is what the branding of their business stands for. It would be unfair to not mention Kiakia loan app on the list of apps for quick loans.
The unique aspect of KiaKia is that it is a two-way system. It a platform for users to get loans and also for users to give loans.
You can either be the recipient of a loan or the donor of the loan. This is an interesting financial solution that makes it scalable because the higher the numbers of givers, the more people KiaKia can provide loans for.
So for the scalable model, KiaKia uses big data, machine learning, psychometry algorithm for credit risk management and credit scoring.
This algorithm helps them reduce the risk of the finance solution products they are offering.
Key Features
- It is a two-way system that allows users to take loans or give loans to others.
- The app uses big data and machine learning algorithm for credit scoring
- It has a user-friendly interface for users
- Offers a paperless solution. It does not require documents and credentials
- Uses a chatbot to assist in using their services which asks for your email address
Jumia One
Jumia One is a product of Jumia. It offers you instant access to micro-loans which can be accessed using Jumia One loan app. Loan Apps in Nigeria
Jumia One is one of the trusted loan apps in Nigeria because of the branding of its parent company, Jumia.
To get a loan from Jumia One, you need to download the mobile app, you sign up and login, provide all necessary information wait for some time for the approval of your request.
It is a top notch online loan app but it also have its own issues like the service can only be accessed through mobile app.
Key Features
- Has a mobile app through which it coordinates it service
- It offers instant loan
- Obtaining of loans does not require any collateral
Download Link: Jumia One
The Jumia Customer Service unit as such now runs a 24/7 service where help can be gotten via 07006000000, service@jumia.com.ng and @JumiaHelpNg. Orders can also be tracked via www.jumia.com.ng/tracking.
Source Nigeria Technology Guides
