Top 10 Best Mobile Loan Apps for Online Lending in Nigeria

Jun 24

Best Mobile Loan Apps

Obtaining quick loans in Nigeria may be one of the options for resolving financial difficulties. As a result, we’ve compiled a list of the top 10 best loan applications in Nigeria for obtaining rapid loans. Despite the fact that there are a plethora of apps for getting rapid loans online, we’ve selected the top ten. This should provide you with the most ideal option for resolving your budget woes.


They include the following:


– Offers short-term loans for unexpected expenses
– Simple, fully digital lending platform
– Loan amounts: up to ₦50,000
– Repayment period: 1-3 months

Carbon Loan, formerly known as PayLater, ranks first among the finest loan apps in Nigeria. It’s a straightforward, fully digital lending platform that offers short-term loans to aid with unexpected expenses.

You can request for a Paylater loan at any moment if you have an Android device and meet the minimum conditions. They have a simple application approach that allows you to find out your status in minutes.

You can also use the Pay Later site to pay for recharge cards, bills (including your NEPA bill), and other applications.

You can download the Carbon app from the Google Play Store or go to their official website to learn more.


– Lends money widely available
– No paperwork required
– Loan amounts: up to ₦50,000
– Repayment period: 14-30 days

Kwikmoney or Migo is another of the country’s best portable loan apps. By lending money widely available, it acts as an intermediary for both you and your demands.

All you’ll just need your smartphone and a SIM card linked to your bank account. You don’t need any paperwork to get your loans approved in a matter of minutes. The sooner you payback your loan, the more money you’ll be able to refinance the next occasion you use the site.

You can execute the loan in seconds by going to their online webpage ( The loan must be returned between 14 to 30 days.

You will not be charged interest if you repay the loan before the 14th day. The rate of interest on the amount you borrowed will increase by 5% beyond the deadline.


– Offers loans with no collateral
– Loan amounts: up to ₦100,000
– Repayment period: 15 days-1 month

The Fair Money app is tied for third among some of the best loan apps because of their exceptional service.

Try downloading the app from the App Store Play, get your loans (no collateral), and pay it back inside 15 days or one month to conclude a quick and straightforward application procedure.

Users can use Fair Money’s app to recharge their phones and pay their bills in additament to getting loans.


– Offers loans to individuals aged 18 and above
– Loan amounts: ₦2,000-₦100,000
– Repayment period: flexible

The Palm credit app is yet another loan-related application in Nigeria. Palm credit is an Android app that offers loans to its users. The smartphone app is simple and quick to use.

Individuals aged 18 and above are eligible for a Palm credit loan with a line of credit ranging from ₦2,000 to ₦100,000.

You have complete control over getting the loan you want with just a few simple actions. All you have is to go to the Google Play Store and install the Palm Credit App, type in your information, and you’re ready to go.


– Offers loans with no security
– Loan amounts: ₦1,000-₦200,000
– Repayment period: flexible

On this list of notable loan applications in Nigeria, the Branch app is ranked fifth. Borrowing money through a Branch App is simple and can take as little as 10 minutes to complete.

Branch, like the other lending apps mentioned previously, does not require any sort of security to get loans. Your phone number or Facebook account, as well as your bank verification number and account information, are all you need to receive a loan.

You can take loans via the Branch loan app for as teensy as ₦1,000 and as high as ₦200, 000 at affordable interest rates.


– Offers rapid loans with no security
– Loan amounts: up to ₦30,000
– Repayment period: 15-30 days

Quick Check is a cutting-edge lending service that must be included in any list of the best loan applications.

Users can get rapid loans of up to ₦30,000 without putting up any security for 15 or 30 days, as per the platform.

The more loans you take out and payback on schedule, the better your payment history will be, and you’ll be able to borrow even more money! It’s undoubtedly one of Nigeria’s top lending apps.


– Offers loans with no overdraft payments
– Loan amounts: ₦1,500-₦90,000
– Repayment period: 30-60 days

Aella credit is the following app on this list of lending applications in Nigeria. Unlike other lending organizations, this platform includes loans ranging from ₦1,500 to ₦90,000 with no overdraft payments.

They have a monthly rate of interest that ranges from 4% to 29% and a loan term of 30 to 60 days.

If you pay off your loan offer on time and in full, you will be eligible for a larger loan the next time you pick up for one.


– Offers secured and unsecured loans
– Loan amounts: varies
– Repayment period: flexible

Kia Kia is among the best financing applications since it is quicker and more efficient. It is the top peer-to-peer marketplace in Nigeria and one of the country’s first digital financiers.

Kia Kia offers secured and unsecured loans, as well as profit-sharing financial transactions that are properly-structured. They concentrate their efforts on small and medium-sized businesses (SMBs) with high development potential but no access to funding from established financial institutions.


– Offers payroll-based consumer loans
– Loan amounts: up to ₦100,000
– Repayment period: up to 18 months

Credit Ville is an electronic creditor that offers Payroll-based consumer money to borrowers who qualify through their employer. Their monthly income is then subtracted from the amount borrowed.

After satisfying the relevant parameters and documents, Credit Ville can swiftly deposit an immediate or emergency loan into your account.

Credit Ville makes financing options of up to ₦100,000 for up to 18 months and without any collateral.


– Offers brief loans with no collateral
– Loan amounts: up to ₦50,000
– Repayment period: flexible

SokoLoan is just another app that should not be overlooked when it comes to the finest lending applications in Nigeria. This is an easy-to-use app that can be used at any moment and on any day to obtain relatively brief loans.

Sokoloan aims to expand access to financial services for the disadvantaged by channelling funds to low-income individuals.

The sooner you pay back your borrowed funds on this site, the higher your loan limitations become. Overall, the Sokoloan money lending platform is constantly there to help you obtain fast loans.


Before we conclude up this post, let’s go over some important takeaways. First and foremost, if you are going to borrow money, primarily for business purposes, be sure you have carefully orchestrated everything and are not racking up debt. Meanwhile, you should be aware that each loan app/platform will come with its own set of terms and restrictions. You should check to see if the terms and criteria are in your balance in favour.

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