Best Instant Loan Apps In Nigeria

Top 10 Best Instant Loan Apps In Nigeria 2022

Top 10 Best Instant Loan Apps In Nigeria.

Ever been in a situation where you are in urgent need of money either to start a business, or for other personal or financial needs, and you think it’s best to get a loan, but you don’t know where or how to get it?

To be forward, not everyone is cut out for the whole procedure the bank throws at you when you want to apply for a loan.

That’s why many other financial institutions have emerged to make the procedure of getting a loan in Nigeria very easy.

Most of these platforms that give loans in Nigeria, don’t collect collateral.

Hence, if you are looking for platforms to get instant loan without collateral in Nigeria, this article will be very helpful to you.

In this article, I have listed 10 best instant loan apps in Nigeria that give loans urgently, and most without collateral.

10 Best Instant Loan Apps In Nigeria

Quick loan apps in Nigeria have been built for purpose of giving urgent loans to Nigeria. A lot of persons have used some of these apps to secure urgent loans for their business, school fees, etc.

The beautiful thing about this is that most of these platforms give loans within 24hrs and their repayment plans are also very flexible.

Below are the 10 best instant loan apps in Nigeria.

1. Carbon (paylater)

Carbon loan app is the easiest loan app in Nigeria which is why it tops the list of best instant loan apps in Nigera.

It loans money for personal or business needs without collateral or guarantor. This platform also lends money to student or salary earners, working or not, even entrepreneurs. There’s something for everyone on the Carbon loan app.

How To Apply For Loan from Carbon

Follow the steps below to apply for Carbon loan.

  • Download the Carbon app from Google play store
  • Fill out required information after signing up
  • Choose an amount
  • Submit form and receive the loan in minutes

2. Fair Money

Another quick loan app in Nigeria is Fair Money. Fair Money gives instant online loan without collateral in Nigeria.

Fair money loan app is also very stress-free because loans of over ₦150,000 can be applied for online, with no paperwork or collateral.

Fair Money repayment plan can be split into multiple installments for flexibility. Terms and conditions are however applied.

You can download the Fair Money loan app from Play Store for Android users, and App World for iOS (iPhone) users.

How To Apply For Fair Money Loan in Nigeria

To get a quick loan from Fair money, follow the steps below.

  • Download the Fair money loan app from Google Play Store for Android users
  • Sign up with your phone number or Facebook profile
  • Create a profile
  • Submit an application
  • Within minutes, the money is being received in your bank account

3. Palm Credit

Palm credit loan app has to be included in this list of top instant loan apps in Nigeria as it is effective. You can borrow even as low as ₦2000 and up until ₦100,000 online with just a few steps.

How To Apply For Loan From Palm Credit

To get instant online loan from Palm Credit, follow the steps below.

  • Download the Palm credit app from Google Play Store
  • Provide your active and functional phone number because a code will be sent via text message to that number for verification
  • Fill out the given form which would include your bank account details
  • A congratulatory message will be sent to you upon receiving the money

4. Kiakia Loan

Kiakia as the name implies in the Yoruba land in Nigeria as “Quick Quick,” does not hesitate to give out loans especially to business owners.

The loan platform was established by Sterling Bank and so, by dialing the code *822#, you also gain access to loans from Sterling bank.

Visit their website on

5. Quick Check

Quick check loan app is equally another good loan app where you can get urgent loan in Nigeria.

Getting loans from Quick Check is very easy. After your request for a loan on Quick Check, loans are instantly transferred to your account.

You also get a single-digit interest rate. They grant customers the freedom of choosing when to pay back.

Download Quick Check loan from Play Store for Android users, and App World for iOS (iPhone) users.

How To Get Quick Check Loan In Nigeria

 To get Quick Check loan, follow the steps below.

  • Download the Quick Check app from Google Play Store for Android user
  • Sign up with your Facebook profile
  • Fill out the necessary information after signing in
  • You’ll be asked to state the reason for borrowing

6. Branch

Branch is also among the top best instant loan apps in Nigeria. Aside from Nigeria Branch loan platform is also available in other countries.

To get an instant online loan in Nigeria, all you need to do is download the app, sign up in seconds, apply for the loan, and instantly receive your loan directly into your bank account.

Little interest will be required upon repayment.

You can download the Branch loan app from Play Store for Android users, and App World for iOS (iPhone) users.

7. Aella Credit

Also on our list of top best loan apps in Nigeria is Aella Credit. Aella’s credit loan app is known for its excellent customer relation. They are always ready to respond to your inquiries.

How To Apply For Aella Credit Loan

To get Aella Credit loan, follow the steps below.

  • Download the Aella credit app from Google play store
  • Enter your name, email, and phone number
  • Include your bank details and employee ID
  • Provide information on your next of kin
  • A processing fee of ₦30 will be charged as you request is being processed

8. Kwik money

Kwik money loan app is quite different from the rest. Money can be borrowed even without the app. Your smartphone and the SIM linked to your bank account are what is required.

A 5% interest is added if repayment is not made after fourteen (14) days.

How To Apply For Loan From Kwik Cash

To apply for Kiwi loan,

  • Dial the code *561# on your mobile phone
  • Tap on “Request loan” on the menu
  • Pick a loan offer convenient for you
  • Select your bank and input your 10-digit NUBAN
  • Accept the most flexible repayment amount for you

9. Soko Loan

Soko loan app is also on our list of the top best loan apps in Nigeria because of their concern for the Financial freedom for the poor.

Soko loan app is a product of microfinance institutions in Nigeria. This lending platform strife to help people who are passionate about their business but is limited by lack of funds.

Applying For Loan From Soko Loan

 To apply for Soko loan, follow the steps below.

  • Download the Soko loan app from Google play store
  • Sign up and fill out the loan request form
  • Choose the amount, repayment date, and some other information
  • Submit form

10. Credit Ville

Credit Ville is another best app to get online instant loans without collateral in Nigeria. They operate at a large scale. They give loan offers between ₦100,00 to ₦400,000 for as long as 18 months without collateral.

Salary loans can also be obtained for salary earners on  Credit Ville.

You can visit their website on

Things To Consider Before Taking A Loan

Below are a few factors to consider before getting a loan from any loan platform in Nigeria.

  1. Verification

You need to be sure the platform you want to go with is legit and verified

  1. The amount you want to loan

Make sure the app you will be choosing is actually loaning out the amount you want so you don’t go for an amount smaller then needed.

  1. Interest rate

The interest rate differs according to platforms.  Kwik money for example adds a 5% interest rate if repayment is not made after 14 days. Hence, verify the platform’s interest rate and be sure you can meet that before getting loan from them.

  1. Repayment

While Fair money splits the repayment plan to multiple installments, Quick check allows you the liberty of choosing when to repay. Hence, be sure to also consider this before getting loan from any platform in Nigeria.

Which Is The Best Instant Loan App In Nigeria?

Variety is the spice of life and so instant app varies dependent on your need. The best instant app totally depends on you, on which has the most flexible system that favors you.

Some platforms scrap out interest totally, some spread their repayment plans to multiple installment plan. Others are willing to loan out as much as ₦400,000.

While others still, give out loans without collateral.

Also See: Top 20 Investment Opportunities In Nigeria 

However, before deciding to get a loan from any lending platform, whether online or offline, ensure you read more of the platform from their site and understand their terms and conditions before proceeding.

That’s all on the top 10 best instant loan apps in Nigeria.

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