Best Loan Apps in Nigeria 2021 | Top 5

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This article will give you a short list of the best loan apps in Nigeria 2021. The list will consist of 5 super lending apps in Nigeria. They are all tested and trusted.

Are you in need of a quick loan? Are you finding it difficult to trust a particular loan app in Nigeria? Don’t go too far, the content of this article will be of a great interest to you.

Do you know that you can borrow as much as 5 million naira? Certainly, you can! I will be giving you a list of 5 apps that can give instant loans without stress.

Everyone will surely need cash, and their source of income might be yielding cash at a particular point in time. So, instead of borrowing cash from who might end up hassling you for their money, you can likewise resort to any of the apps I will recommend.

The best loan apps in Nigeria 2021

The list contains apps with super cool interest rates, where you just have to pay a little extra on every amount you borrow.

Fortunately, these apps do not require any form of collateral or paperwork to request a loan. Looks good, right? Definitely, it does. There is no need to upload any document of identification whatsoever.

However, there are requirements, which I will make known to you, subsequently after this brief introduction.

Moreso, the tenor for repayment of these loans is completely suitable for the average Nigerian.

You can get personal and business loans approved within minutes. Please note that the loan amount and duration I will mention can be increased and extended, if you repay your previous loans on time.

Also, the interest rates get to reduce, under the same conditions written above. You need to check these apps out and ascertain which one suits you perfectly well.

Oops! Before jumping to check them out, why don’t we take a look at the requirements to get a loan from these best loan apps in Nigeria.

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Requirements to take a Loan in Nigeria

When applying for a loan via the lending apps which I will definitely mention here, you will be asked to provide some details which include:

  • Your Bank Verification Number (BVN)
  • The phone number linked to your BVN
  • Your Account number/name and Bank name
  • Your full name and some other personal details.

You will be asked few questions to determine if you are eligible to take a loan. To access these loans, you must make use of your mobile phone.

Some apps make it a priority for borrowers to use their mobile phone because they check some personal information like your call log, contact list, message log, GPS data etc.

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The Top 5 Loan Apps in Nigeria

At this stage, everyone wants to know these super loan apps. Well, I will disclose them here. And note that it isn’t a secret, therefore you can share it with others.

5. Quick Check

QuickCheck has made its way to the 5th on our list due to its perfect loan terms and conditions.


This app gives small amount loans, which is very suitable for your personal affairs. You can apply for and get a loan online from quickcheck without any form of collateral, which commercial banks request.

In addition, you can access the loans on Quickcheck  by just downloading the app and signing up. Also, you get to choose the repayment tenure that suits you.

Loan amount – N1,500 – N500,000

Loan term duration – 4 weeks – 1 year

Monthly Interest rate – 1% – 21%

How to apply:

  1. Download the Quickcheck app for free on the google play store here
  2. Sign up and create an account
  3. Subsequently, apply for a loan in 30 seconds
  4. If your loan application is approved, you will surely get the cash in your bank within minutes.

4. Fairmoney

If you really want to loan as high as N500,000 within 5 minutes, then Fairmoney should be considered among options.

Best loan apps in Nigeria

To get a loan on the Fairmoney app, you do not need to lay down any collateral or paperwork. The app gives out personal and business loans by just downloading the app, signing up and applying for the loan under 5 minutes.

Fairmoney is very fast and secure. Getting a loan can just be as easy as chatting with our friends. It is very flexible and there are no hidden charges.

Loan amount – N1,500 – N500,000

Loan Term Duration – 1 – 3 months

Monthly Interest rate – 10% – 30%

How to apply:

  1. Download the fairmoney app here
  2. Sign up with the phone number linked to your BVN
  3. Answer a few questions and confirm your identity
  4. Select the loan amount you want and receive it instantly in your preferred bank account.

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3. Branch

If you have tried other loan apps, and they haven’t worked for you, then I will advise you to try the Branch Loan app. It happens to be the 3rd among the best loan apps in Nigeria.

Best loan apps in Nigeria

Branch has a super cool monthly interest rate, but unfortunately, a small loan amount. However, you can get to increase the loan amount later by paying back your loan within the speculated time.

Something, I personally like about the Branch loan app is the reliability and security of loan application. Isn’t that cool? Obviously, it is!

The branch app is available for download on the google play store. You don’t also need any form of paperwork or collateral to receive a loan on Branch.

Loan amount – N1,000 – N200,000

Loan term duration – 4 weeks – 15 months

Monthly interest rate – 1% – 21%

How to apply:

  1. Download the branch app on play store
  2. Sign up with your phone number and bank details(including your BVN)
  3. Proceed to “My loan” page and request your loan choice.
  4. Submit your request

2. Aella Credit

Aella is also a super loan app. It gives Nigerians access to quick loans without going through any form of stress at all.

Best loan apps in Nigeria

And guess what? Aella also has very cool interest rates. I bet you are gonna love it. You get to apply for your loan and get it in less than 4 minutes.

Aella Credit app is available for download on the google play store and on the iOS app store. This makes it accessible for everyone interested.

Aella Credit makes it easy for people in Nigeria to access quick loans anytime and anywhere. After completing your application, you will receive your loan directly into your bank account. You do not need any document for the application.

Loan amount – N1,500 to N4,000,000

Loam term duration – 1- 3 months

Monthly interest rate – 4% – 30%

How to apply:

  1. Download the Aella Credit app from the google play store here or on the iOS app store
  2. Create your account by filling out some details like your BVN
  3. Update your profile
  4. Check eligibility to see the amount of money you can borrow
  5. Apply for whichever one you want and receive it straight into your bank account

1. Carbon (Paylater)

I bring to you the 1st of the best loan apps in Nigeria, Carbon, formerly referred to as “Paylater”. The speed and flexibility cannot be matched by other lending apps. I call it “The Flash”.

Best loan apps in Nigeria

To apply for a loan on Carbon, you need no guarantor, no collateral, no document whatsoever. You can always apply for a loan anytime and anywhere in Nigeria.

It is very easy to apply for a loan on Carbon. When it cokes to interest rates, it is the best in Nigeria.

Above all, I will recommend this app for anyone who is ready to get a loan at a good interest rate within 3 minutes. You can always get a personal and business loan.

Loan amount – N1,500 – N1,000,000 (for a start)

Loan term duration – 64 weeks

Monthly interest rate – 1% – 21%

How to apply:

  1. Download the Carbon app on the google play store here or on the iOS app store
  2. Fill in a brief application form with some basic details
  3. Select a loan and request it
  4. Receive your money in 3 minutes.

So, I believe you must have picked the loan app which suits your demands from the list of best loan apps in Nigeria above. If you need to ask a question, leave a message in our comment section, We will get to you as soon as we can.

Similarly, You can also share this post with others who you feel might need it.

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