Are you wondering, which apps are the best loan apps for a personal or business loan? here are the top 20 loan apps in Nigeria you can rely on to apply for instant cash from your Android or iPhone and repay at low interest.

You may be wondering how to get loans with good offers. And by good offers, I mean, cheap interest rate, good payment tenure with NO COLLATERAL. Yes, I mean, no collateral, all from the comfort of your home, office, or wherever you may be. The days of long queues at the bank are over.

Despite the loan recovery crisis that comes with giving out loans, these loan apps have come to stay, as they are set to contribute their quota to the financial development of the country.

Operating with different interest rates, these apps are set to provide loans suitable for different individuals and business types.

Right here in this post, we’ve made available the top 20 loan apps in Nigeria which currently offer the best services concerning providing a reasonable amount of loan uniquely suitable to every business and individual.

Not only do these loan apps offer the highest loans in Nigeria, but they also make it easy to get access to loans to sort out your financial needs. Because of course what is the point of getting loan apps without easy access to loans? So here, we have collected the top loan apps you need to pull through to the next level in your finances.

The Top 20 Loan Apps in Nigeria

In no particular order, these are the best loan apps you can borrow quick cash in Nigeria: Carbon Zero Loan, FairMoney Loan, Lendigo, Okash Loan, XCredit, QuickCheck, Alert By Wema Loan, Aella, Branch, P2Vest, Lydia, PalmCredit, KiaKia, Credit Ville, RenMoney, FastMoney, Umba, Migo Loan, XCross, and Kuda Loan.

The next paragraph will expose you to different categories of these top 20 loan apps that we have in Nigeria so you can pick the one that suits your specific needs.

Loans Apps That Give The Highest Loans In Nigeria

It’s quite difficult to get loan apps that are willing to offer loans of certain huge amounts. But some loan apps are standing out as they provide their clients with over #500,000 as loans.

These apps include:

• Carbon Zero Loan App: Carbon zero formerly known as pay later is one of the highest-ranking loan apps in Nigeria.

It has now advanced to becoming a digital bank that doesn’t just give you access to loans but provides a platform for payment of bills, transfer of funds, airtime purchases, and other things that can be done online as regards your finances. They operate with interest rates ranging from 2 percent to 30 percent.

It offers loans ranging from #100,000 to #1,000,000 to its customers.

To gain access to these amazing offers, all you have to do is log on to your phone’s Google play store or app store, download the carbon loan app and install it on your mobile phone.

To register, launch the app and fill in the necessary details which include your bio-data and your BVN. A loan will be approved for you based on the information you provide. So do well to provide the right information.

See more details about the Carbon app here.

• Fair Money Loan App: Also ranking as one of the top loan apps in Nigeria, the fair money loan app is an automated moneylender online, that offers installment loans, a single payment, and payroll loans to its clients.

You offer loans as low as #1,500 and #1,000,000 requiring no guarantor or collateral. Its repayment period ranges from 3 months to 18 months with a monthly Interest rate of 2.5 percent to 30 percent. Fair money is known for its amazing customer service and commendable lending procedure.

• Lendigo: Lendigo offers up to #10,000,000 loans with low interest to its customers depending on their business type. It provides loans for medium and small-sized businesses. It offers flexible and fast loans to its customers to sort out both their business and personal needs.

To apply for Lendigo loans, all you have to do is download the Lendigo loan app on your phone through your browser. It is currently available on the Google play store for android.

Register on the app by providing the necessary information and you’re ready to start receiving loans.

Okash Loan App: Okash being a subsidiary of the popular Opay app has become a stand-alone loan app that you can download and register on to receive loans at great terms.

The Okash loan app offers up to #500,000 loans to its customers without collateral and operates with a payment tenure of 3 months to 1 year.

You can also borrow money on Okash via USSD code.

• Xcredit: Xcredit is one of the top loan apps in Nigeria that currently grant loans of as little as #2,000 and as much as #500,000 to its customers. Their loan tenure spans 5 months. It is not a very popular loan app, but they seem to be doing a very good job of meeting the needs of its customers.

• Quick Check: To get a loan from a quick check, you are required to show proof of your employment status and source of Income. It offers up to #500,000 loans with an interest rate of 1 percent daily with its tenure ranging from 5 to 30 days.

However, you can only access about #10,000 as a new customer but as you go, you can gain access to more money. It is aimed at meeting both personal and business needs financially.

• ALAT By WEMA Loan App: ALAT by WEMA is one of Nigeria’s top loan apps that grant access to loans without collateral. Alat is a subsidiary of WEMA bank and is Nigeria’s first fully digital bank. You can borrow as much as #2,000,000 without any paperwork or collateral.

To apply for loans on the Alat loan app, download the app and sign up, providing the necessary information. From the menu provided, click on loan. Read through the terms and conditions thoroughly and then accept to have the loan debited from your account on the due date.

• Branch: Branch offers loans of a little as #2,000 to as much as#500,000. It doesn’t charge rollover or late fees. Its annual interest falls between 15 percent and 34 percent and its monthly interests range from 1.5 percent to 20 percent. Apart from Nigeria, Branch loan is also available in other countries.

• AELLA Money Loan App: Aella money app is an android based loan app. To register on this platform, you are charged a validation fee of #30. It gives loans of up to #1,000,000 with interest rates ranging from 6 to 20 percent with a loan tenure of 1 to 3 months.

• Migo Loan App: Formerly known as KWIK money, Migo is a cloud-based loan platform that gives up to #500,000.

It operates with interest rates ranging from 5 percent to 15 percent. It is a very popular loan app in Nigeria, as it has never fallen short of its reputation as one of the top loan apps in the country.

• P2Vest: P2vest is a digital platform that links screened borrowers to investors or lenders who seek to make more money on their capital. It is one of the peer-to-peer loan apps currently available in the country.

It also operates P2VFB, a B2B loan platform to help businesses manage their money lending activities.

It offers loans ranging from #5,000 to #2,000,000.

• Lidya Loan App: Lidya being one of the first loan apps to offer loans to small and medium-sized businesses in Nigeria offers up to $500 and $50,000 loans.

It is the United States holding financial institution aimed at helping small and medium-sized businesses grow. It is currently spread across 5 countries and 3 continents. The 5 countries are; Nigeria, Portugal, Poland, the United States of America, and the Czech.

Lidya grants loans using the credit score obtained through a credit risk assessment carried out on every business. That is, loans are granted to each business according to their score credits.

To get a loan from Lidya, you must own a business. And the loan tenure is dependent on the loan you’re being offered. Loans are repaid via direct deposit or debit cards.

Top Apps That Give Loans Easily in Nigeria

Getting a loan is not the only thing that is considered when applying for a loan. Factors like speed and accessibility are also considered.

These apps do not just offer you loans, they also make it easy to get loans within the shortest time possible.

They are:

• Palm Credit Loan App: the palm credit loan app offers up to #300,000 loans to its customers in less than 3 minutes with interest ranging from 14 percent to 24 percent and loan duration of 2 to 6 months.

You can download the palm credit app from your Google play store or iPhone store.

• Kia Kia: Kia Kia is a digital loan platform that offers up to #200,000 to its customers. Just like its name which is derived from a Yoruba word meaning “fast”, it is very quick and easily accessible. Its interest rates vary concerning the kind of loan you’re taking.

• Credit Ville: Credit Ville is an online loan app that operates with an Interest rate of 6 percent to 31 percent. It grants loans to its customers based on their payroll and pays them through their employer. After which, the loan is deducted from your salary.

Your account is credited immediately if you meet the requirements of the application.

Which are the Cheapest Loan Apps in Nigeria?

Amongst the top 20 loan apps in Nigeria, some have got cheap interest rates. They offer their loans with very affordable and reasonable interest rates.

They are:

• Umba: Umba is one of the top spot loan apps with low-interest rates in Nigeria. You can get access to a minimum amount of #1,115 and a maximum of #89,182. It operates with a maximum payback tenure of about 2 months with an annual percentage rate of 10 percent.

It offers loans based on risk ratings. It doesn’t require any paperwork or collateral.

• Xcross cash: The Xcross loan app is one of the loan apps that currently give out loans with low-interest rates. They give loans ranging from #10,000 to #50,000 with a payment tenure of 3 months to 6 months. Their monthly interest rate ranges from 4 percent to 4.7 percent. With an annual percentage rate of 24 percent to 56 percent.

• Fast Money: Fast money is another loan app to consider if you’re looking to get loans at a cheap interest rate. It offers up to a #300,000 loan with no collateral and very low interest. Their interest rate starts from as low as 4.4 percent per month.

So if you seek to get that loan at a very cheap interest rate, these apps are what you need.

Best Loan Apps That Grant Loans Of Up To 100,000 Naira

The following apps offer up to #100,000 loans to their customers

• Renmoney: Renmoney is a digital financial platform managed by a group of finance and technology enthusiasts who are seeking ways to contribute their quota to the development of the financial state of the country.

With the Renmoney loan app, you have access to a minimum of #100,000 loans with a monthly interest rate of 2.8 percent. As a small business that needs loans to finance your working capital needs, Renmoney is one of the business loan apps you can count on.

• Kuda loan app: With the kuda loan app, you have access to as little as 20,000 Naira to as much as 100,000 Naira which must be paid within a space of 1 month. It offers loans to its customers minutes after application and approval.

Note that every loan app is peculiar in its operation. So the amount of loan payable to new customers vary concerning each app. And the more you use the loan apps the more you stand the chance of having your loan limit increased.

For example, on the quick check loan app, you are only granted access to 10,000 Naira as a new customer, but as you frequently use the app and pay back your loans on time, your loan limit is increased.

There you have it, the top 20 loan apps in Nigeria with great offers to suit your demands. If you seek to get a loan for your personal needs or business, these loan apps are your best bet, as they offer their customers over 100,000 Naira worth of loans.