Top 20 Loan App in Nigeria You’ll Love

Top 20 loan app in Nigeria: From Okash to Kuda Bank, discover the best loan apps offering instant loans without BVN or collateral. Borrow up to N10M with ease

When you look at the economic situation of Nigeria today, there are obvious difficulties in the Country, and most people tend to look for loan apps to help sort out some of their financial situations.

Before the Advent of loan apps, Most Nigerians tended to go to traditional Banks like UBA, First Bank, Zenith Bank etc, for Loans.

The process of acquiring these loans from these banks always seems stressful, and requirements are always enormous. For instance, you must provide BVN in all Traditional Nigerian Banks before getting a loan. This is not so on some of the loan Apps,  and most people end up not getting these loans from our traditional banks due to one problem or the other.

All these changed with the Advent of the Fintech Bank app in Nigeria. Now, you can take out a loan with just your smartphone without even stepping out of the comfort of your home.

The harsh economic reality facing Nigerians has made loan apps a critical part of our financial systems. However, the presence of so many Loan apps in Nigeria comes with its challenges. Getting a good loan application that will come to your rescue when needed is actually a very difficult task.

That’s not to say there are no good loan apps out there; the problem is some of the loan apps out there may not be reliable, or they may fall way below CBN standards.

There are more than 200 Loan apps in Nigeria. Still, in this blog post, we’ll look at the top 20 loan apps in Nigeria that will guarantee seamless transactions, so it doesn’t matter if you have privacy concerns or you don’t have a BVN. Don’t worry; you can still borrow money from these Loan Apps without much stress.

Top 20 Loan App in Nigeria.

1. Okash Loan App

Okash Loan App is one of the most prominent loan applications out there. It can give you loans without even requesting your BVN number. Okash was formerly owned and controlled by Opay Nigeria. However, you can still access Okash through the Opay app, but Blue Ridge Microfinance Bank Ltd is currently controlling them.

To access Okash, all you have to do is download the Opay Banking App, go to the Okash section of the app, and borrow up to N500,000.

To enjoy Okash, make sure you pay in time to improve your credit score. Once you pay as of when due, Okash will continue to improve your allocation.

 You can borrow as much as you want provided you don’t default payment; Okash is highly rated with thousands of downloads on the Google Play Store.

2. PalmCredit

Is It for Garri? Is it For Eba? No matter how small the amount you are seeking to loan, PalmCredit is another beautiful loan app from which you can borrow money. Do you know the best part? You can borrow money on Palmcredit with or without making use of your BVN.

If you want to enjoy a loan from PalmCredit, all you have to do is download the app or Google Play Store or Apple Store, fill in your details and start borrowing.

You can borrow from N2,000 to more than N100,000 on PalmCredit and always try to pay your loan in time so as to improve your credit score.

3. Alat Loan App By Wema

The third loan app on our list of Top 20 Loan App in Nigeria that can lend you money As long as you meet all qualifications is the Alat Loan App. This loan app is fully owned and operated by one of Nigeria’s biggest banks, Wema Bank.

With Alat, you are sure of unlimited alerts provided you meet their terms and conditions as stipulated by the Bank.

Loans on the Alat Digital banking system are always huge for customers who are applying with BVN. However, if you are trying to get loans on Alat without BVN, we’re sorry to inform you that the amount you’ll be given will be highly restricted; you’ll have a small amount that you can use to solve little emergencies.

 So, do you want to get a huge loan from Alat? Well, you know what to do. Apply with your BVN and enjoy the hefty sums available on Alat. The truth is you can get any amount from N5000 to over A million Naira on Alat provided you follow the terms and conditions of the banking institution.

4. FairMoney Loan App

This list is incomplete without mentioning the FairMoney loan app, and This is because FairMoney is amongst the first set of loan apps that infiltrated the Nigerian online lending system.

To get started, all you have to do is download the Fairmoney loan app from the various platforms available to you. They’re on the Google Play Store for Android users and also on the Apple Store for those using iPhones. The positive reviews on these Download stores are certainly encouraging.

Once downloaded, go through the loan application process and start flexing your money. With FairMoney, you can borrow as much as N750,000. That’s huge, right? How much is money? It’s probably nothing with FairMoney.

5. Eyowo Loan App

I know most of you might not have heard of the Eyowo loan app before; it’s not really a popular name like most of the loan apps we’ve mentioned above, but trust me, Eyowo loan app is one of the most interesting apps out there that can allow you to loan money from them.

To get started, go to the Google Store and download the app. Please register with your phone number and borrow money from them. Very simple. Once you pay as at when due, they’ll keep increasing how much you can borrow from them. On the Eyowo loan app, you can get loans of about N2,000 to more than N500,000, provided you are prompt with your payments.

6. Carbon Loan App

How did we even get up here without even mentioning Carbon earlier? We’ll do it because the list is exhaustive.

Carbon is simply one of the best, biggest and most reliable loan apps available in Nigeria today. You can even loan a huge amount of money on Carbon very easily without any hidden charges.

Once you download your Carbon Loan App, undergo the normal registration processes. With Carbon, you can borrow amounts that range from N1,500 to an Outrageous N1M.

This is huge, you know, but for you to be able to get to that stage, you need to make sure you always pay up in time to increase your credit score.

Nigerians highly rate Carbon. The positive reviews on the Play Store say a lot about them; they’re always fast and reliable with service delivery, and if you ever encounter any problems, their customer service response is always timely; you’ll enjoy Carbon, and they’re a carbon copy of what they claim to be.

7. Jumia Pay Loan App

Most of us know Jumia as an online ecommerce store where we can order goods online and have them delivered to our doorstep. The truth is, The Jumia empire is way bigger than just that.

Jumia, as a company, has the Jumia Pay Loan App that allows its customers to borrow money and pay it back at a later time.

With the Jumia Pay Loan App, you can borrow money without even bothering if you have BVN or not. Just download your Jumia Pay Loan App today and start enjoying their amazing services that come with very good interest rates.

If you want to shop on Jumia and are looking for funds to complete your transactions, you will have the Jumia Loan App readily available.

8. Aella Credit Loan App

Yet again, this is another popular loan app that offers amazing services. With the Aella Credit Loan App, you are sure not to get stranded when in an emergency, the reason being that their loan processing time is quite swift, and in about five minutes, you are already in possession of your loan.

Aella Credit Loan App does not require your BVN before giving out loans to you; they don’t even demand collateral, either!!

On Aella, you can get a loan from N1,500 to about N1M.

All you have to do is make sure you pay in time to improve your credit score and get higher loan amounts.

9. Branch

The Branch is one of the biggest Loan Apps in Nigeria; the CBN well licenses it and operates with so much flexibility; on BranchBranch, you have access to borrow loans and sort out your emergency needs. BranchThe Branch is way bigger than just borrowing money.

Aside from instant loans, you can make instant money transfers, bill payments, recharge your line, and do subscriptions all on your smartphone without even stressing about it.

You might want to know how much loan you can get from BranchBranch; here’s it: The loan app allows you to borrow from N1,000 to a whopping N500,000, and your loan tenure could last for about 60 days to 1 year, that’s a lot of time to repay, and there are no hidden costs too.

10. Kuda Microfinance Bank

If you are used to Fintech Banks, then I am sure Kuda Bank is not a new name for you. Kuda is one of the leading Fintech Banks that’s currently dominating Nigeria alongside Opay, Palmpay, Moniepoint, etc.

If you are looking for an instant loan that will help offset some of your bills, Kuda might be the Bank you are looking for.

Licensed by the Central Bank of Nigeria, The Bank, which is also insured by the Nigerian Deposit Insurance Corporation (NDIC), Is capable of giving qualified customers loans that could rise to N600,000, and there’s absolutely no need for you to sign complicated paperwork and all that. You can also perform other transactions like transfers and withdrawals, Savings, etc.

11. Umba

Now, most of you probably wouldn’t have heard of Umba; it might sound new to some of us. However, Umba has been here for a while, and trust me, they’re not doing badly to their customers.

Umba allows their qualified customers to borrow amounts from N2,500 to N500,000 with an annual interest rate of around 10% to 20%, which is very affordable.

They have a very good repayment system where you can pay back within 60 days to a Year.

For those of you who want to perform other transactions like transfers and airtime, there’s good news, too: on Umba, you can get up to 3% cashback when you pay bills or make transfers on their platform.

12. Palmpay Microfinance Bank

Palmpay is a very popular Digital bank that has been dominating Nigeria’s Fintech banking for some years now. Most Nigerians make use of Palmpay for their day-to-day transactions; most POS operatives within the Country also work with Palmpay, making it one of the biggest in the Country.

Palmpay gives qualified customers loans with a very good interest rate; however, if you default your payment, Palmpay can go to a certain length of even tarnishing your image to get their money back.

They’re very notorious for that, and in the past, they’ve trended on social media spaces for the wrong reasons, especially on how they treat their defaulting customers.

You can borrow from N3,000 to N1,000,000 on Palmpay, provided you keep paying back in time.

If you know you would default payments, please don’t ever think of borrowing from Palmpay; I am speaking from experience.

Outside, Palmpay’s customer service is top-notch; they’re always active in getting your issues resolved. If you enjoy buying data and other subscriptions, Palmpay gives customers cashback for every successful transaction on their platform.

13. Ease Cash

Ease Cash is another new name in the Nigeria Fintech landscape that’s gradually making waves across the Country. The highly rated app has given out millions of naira to Nigerians in the form of loans.

Still new, Ease Cash is living up to its name; the app pays serious attention to customer service and efficient delivery, so getting a loan from them can happen in a snap of the tips.

At Ease Cash, you can borrow from N2,000 to N350,000, Provided you meet their requirements. Their Annual Percentage Rate(APR) stands at 14%, which is very affordable, especially when you compare it to other loan Apps.

For repayment, Ease Cash has a very good repayment structure that allows you to pay back within 90 to 180 days; it’s left for you to choose which time frame will work best for you.

You Don’t need to provide collateral in order to get Ease Cash loans; once your creditworthiness is confirmed, you’ll receive your loan without much Ado; this and so many other benefits of Ease Cash make their place in our Top 20 loan Apps in Nigeria well deserved.

14. Lendigo

Lendigo is one of the leading Loan apps in Nigeria. They’ve been around for quite some time now, and they’re doing really well in the Market.

While most loan apps concentrate so much on giving out loans that are not that astronomical, Lendigo is different here; they are the opposite of most loan Apps when it comes to lending power.

Bendigo is committed to Supporting small business owners who lack the financial stability to push their businesses to the level they want.

In essence, if you are a businessman looking for finances to push your business to the next level or a student who needs serious money to push your education, Lendigo will lend you a lending hand.

At Lendigo, customers can receive up to a whopping N10,000,000(Ten Million Naira), which is a sharp contrast to what most loan Apps will offer you out there.

Lendigo has clear structure fees; their interest rates stand at around 3.5% a month, and you will equally be required to pay a one-time processing fee.

While applying, you will be required to provide some documents such as your valid IDs, Your monthly statement of account, etc. All this will be done directly on the loan app.

15. KiaKia

KiaKia is a leading P2P Peer to Peer Loan app that has been around for a while now. This is how Kiakia operates. They take money from individuals who want to invest their money; then they give it to those who wish to take out a loan from the app. They’re like the middlemen between lenders and borrowers.

KiaKia operates as a licensed lender, and their major work is to try to facilitate loans for both businesses and private individuals. At Kiakia, you can borrow up to N10,000 to N100,000,000 (Hundred Million Naira).

Their interest rate is about 3.5% monthly, and their Annual Percentage Rate (APR) is about 180%; as a borrower, you can choose any repayment plan that must fall within 180 days to 540 days.

If you are looking for money to invest in something really big, KiaKia might be your best shot, provided you meet the terms And conditions.

16. Page Financial

Page Financial is a very good loan app that you can borrow money from without stressing yourself out.

 If you are a business individual or someone looking for substantial funds to carry out Projects that would benefit you greatly, consider running to Page Financial.

At Page Financial, You can apply for quick loans of around N200,000 to N6,000,000. (Six Million Naira) Without much Ado.

Once you meet the requirements and apply for the loan, disbursement is almost always immediate. So you don’t even need to wait for so long before getting your funds.

At Page Financial, You can be offered a new loan while still repaying an existing Loan. It is quite different from most loan apps in Nigeria, which want to make sure you make complete payments for existing loans before requesting another one.

17. WeCredit

WeCredit Loan App has gotten itself a huge fanbase in Nigeria. This is because their service delivery and customer service are at an elite level. No wonder we added them to the list of our top 20 Loan apps in Nigeria.

To get your WeCredit Loan, go to the Google Play store and download the app; if you are using an iPhone, you can get it on the App Store. Once everything is ready, proceed with the loan application.

WeCredit can give you a Loan Worth up to N200,000 (Two Hundred Thousand Naira), which you can use to sort out some of your problems that require urgent attention.

WeCredit is not always in a hurry to get their money back; that’s why they give their customers a flexible timeframe to pay back. You could pay back between 90 days and 365 days.

With credit, there are absolutely no hidden charges; everything is transparent for you to see; their Annual Percentage Rate (APR) is from 10% to 30% per annum, depending on the loan amount given.

Provided you are a Nigerian within 18 to 60 years, you’re well eligible for WeCredit Loan.

18. Renmoney

Renmoney is a leading loan app in Nigeria that has provided loans to Nigerians for the past couple of years.

One thing you can’t take away from Renmoney is Its level of transparency and loyalty to its customers.

They’re equally reliable as they make sure every of their loan policies and conditions are clear for all to understand.

At Renmoney, You can borrow from N5,000 to N5,000,000 (Five Million Naira), with disbursement almost done immediately. You’re given the flexibility to pay from three months to 12 months, which gives you enough time to generate funds.

Their interest rate is about 2.11% to 2.64%. Their lowest APR stands at around 25.44%, while the maximum is around 31%. Outside loans, you can perform other transactions on Renmoney, such as transfers, subscriptions, savings, etc.

19. QuickCheck

QuickCheck is one of Nigeria’s leading Fintech banks that provides loans to businessmen and individuals who are seeking financial assistance to improve their lives.

QuickCheck made it to our Top 20 Loan Apps in Nigeria because they’ve proven beyond reasonable doubt that they’re here for business. Since its inception, QuickCheck has credited loans worth millions to its ever-growing customer list.

They’re quick and reliable, and this, of course, has endured so many people in the company. At QuickCheck, you can take loans from as low as  N1,000 to as much as N500,000, which is half a million naira.

Their monthly interest rates start from 1% to 21%. They also have an impressive APR of 30% to 259%. You can repay your loan within three to 12 months.

There are no hidden charges for any Loan given to you by QuickCheck. If you repay your loan in time, you’ll equally receive a much higher loan amount and lower interest rate as time progresses. To borrow and repay, Download the QuickCheck app.

20. XcrossCash

The last but not the least on our list of is the XcrossCash. XcrossCash is one of the best loan apps for those who are not in need of much money; this is so because their loan amount is quite low and can only be used to sort out little issues.

Qualified customers can get from N10,000 to N50,000(Fifty thousand naira)  from the app. This money can be used to settle small bills that might need urgent attention.

Every Nigerian who is above 18 years old is eligible to apply for the loan; you can pay back within 30 days to 90 days.

Final Thoughts.

We’ve given you a list of the top 20 loan app in Nigeria that you can freely loan money from without undergoing the rigors of going to our traditional banks.

All you need to do now is to choose any of these options and start borrowing. Remember to always pay up your loans on time; that way, your credit score will increase, and you will get a larger amount when requesting another loan. I hope this helps.