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10 Best Loan Apps in Nigeria

Ever been in a position when you need a quick loan and you don’t have any collateral to present? Whether it is a personal loan, medical loan, rent loan, car loan, school loan or business loan, when you don’t want to go through the stress of filling endless forms and meeting up with unrealistic requirements, instant loans are your best bet.
In this post I will be showing you the best 10 loan apps in Nigeria where you can get instant loans online without having to present any collateral or any guarantor.

Before now, getting instant loans in Nigeria was totally impossible. It was also impossible to get a loan without collateral. The only alternatives you had then to get an instant loan without collateral is to approach family and friends, this mostly turns out disappointing.

Well there’s good news, things have changed. Technology has made it way easy to now access loans from the comfort of your home. I am about to show you 10 places you can get instant loan today without any collateral or guarantor.

CARBON (PAYLATER): Carbon formally called Paylater is one of the foremost and best instant loan apps in Nigeria. It has been in existence for years now. Carbon (paylater) is most used quick loan app in the country presently. Just serach for it in google play store and download. It’s easy to use. You can get loans from N5000 to N100,000. If your loan is approved it will be disbursed to your account within 5- 10 minutes.

AELLA CREDIT: Aella credit loan app is one of the most user friendly instant loan apps in Nigeria as they offer reasonable loan amount for first timers and also increase the loan limit rapidly. Although it was first made only for employees of companies within their network, they are now open to all individuals including students. You can get loan from N5000 to N1000000 and your will be disbursed and you will be credited within 10 minutes. Also aAvailable in Google playstore.

PALMCREDIT:  Palmcredit is another great app you should try when looking for an instant loan. Palmcredit offers loan of up to N100,000 to individuals instantly without any collateral or paperwork. Their interest rate is from 12%-24% and their loan duration is from 14 days to 3 months. Also aAvailable in Google playstore.

BRANCH: Branch is another popular app that offers loan to individuals and small businesses at a reduced interest rate. Branch makes accessing personal loans to individuals very easy as it takes few mins to register with them and apply for loan. Loans are usually disbursed within few minutes. Branch offers loans of up to N100000 for just about 20% interest rate. Branch has disbursed over N1billion in loans. Also aAvailable in Google playstore.

FAIRMONEY: Fairmoney like most quick loan app do not require collateral or guarantor before giving you loan they only rely on your creditworthiness. Fairmoney loan app provides quick cash for personal finance, house rent, health emergency, business and car repairs. Your approved loan is disbursed within 5 minutes and you can have between 14 days – 3 months loan duration. FairMoney can give you a loan of up to N150,000. Also aAvailable in Google playstore.

ALAT: ALAT is a digital bank introduced by Wema Bank of Nigeria. The aim of ALAT is to enable you to carry out all banking transactions digitally without you having to see the four walls of a banking hall. You can open a full fledged account, send money, receive money, pay bills and carryout all other banking transactions without leaving your house. ALAT also give you 10% interest on your savings in the ALAT account.

With ALAT, you can get an instant loan up to N200,000 without collateral and guarantor. Just download the app and create and account.

QUICKCHECK: QuickCheck is one of my favourite loan apps because of it’s simplicity,  offers individual personal loan from N10,000 – N50,000. They also offer loans for salary earners which can be up to N200,000. Their interest rate is 1% per day and you can increase your loan amount and reduce your rate by repaying your loan on time. Also aAvailable in Google playstore.


KWIKMONEY: Although KwikMoney is not entirely an app, the mode in which they offer instant loans make us list them here. KwikMoney offers internet-based, app and USSD loan options. They have partnered with banks and mobile network operators on a mission to make personal banking services convenient and accessible to all Nigerians. With KwikMoney your mobile phone number is your requirements for accessing loans. You can get a loan as high as N150,000 at 15% interest rate for 15 days to 6 months. Loan disbursement is always instant and you can have your loan in the next 2 minutes if you apply now.

To get loan through KwikMoney dial *561# on your phone now or visit https://my.kwikmoney.com

KIAKIA: Kiakia which means “quick quick” in Yoruba language is one of the fastest means to get instant personal and business loans in Nigeria. With Kiakia you will be interacting with a bot that will tell you how much loan you will be offered, your interest rate and loan tenure.

KiaKia uses data bulk, computer forensics, psychometry and machine learning to perform secure credit rating and enable repayment risk evaluation algorithm in order to guarantee direct individual and business credits. Apply here https://kiakia.co/chatbot. You can borrow up to N5,000,000 and loan tenure is between 30 days for new users and 6 months for regular users.

GTB MOBILE APP LOAN: GT bank is always at the forefront of technology and innovations in the banking sector of Nigeria so it is not a surprise that we see that GTB is offering instant loans on their mobile app platform.

You can get instant quick credit for up to N200,000 at interest rate of between 5% and 24% depending on the loan tenure that you choose. Note that this quick credit is different from salary advance, max advance and business loans that are all available on GT internet platform.

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