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Top 20 Instant Loan Apps For Nigerians 2022



Loan apps

  What are loan apps? Loan apps are smart phone device apps that you can use to apply and get loan approval within some minutes with no collateral,

In this article I am going to be showing you the best 20 loan apps you can use to get instant loans as a Nigerian, using your smartphone.

These apps can be found on play store and iOS all you need to do is download and install any loan app of your choice which i will be mentioning in this article, register and read their terms and condition and how they operate.

Truth is there are no best loan apps as all of them performs same function except for some extra features.

list of loan apps you can use to get loans in Nigeria

Loan apps

1: Cashpal

2: Easy credit

this is another app you can install on your phone to get loan easily, they offer loan from 10,000 to 1 million naira

3: Fast cash

4: Pay credit

5: Rain money

6: Branch

7: Access cash

8: Fair money : fairmoney is considered one of the best loan app in Nigeria so far, although  the app  can also be used to pay bills and purchasing of Airtime and you can also earn money from their Affiliate program by referring your friends to borrow money from the app.

9: Ok money

10: Lcredit money

11:Borrow me

12: Cash here pro

13: Go cash quick

14: Carbon : just like fair money, carbon loan apps has an extra feature which allows you to purchase Airtime , and is the second most rated App after fair money

15: Palm credits

16: Quick check



19: Specta

20: Aella credit app .

Loan apps

      Most of these apps will give you loan without any collateral although the app and their interest rate varies, some might demand for interest rate of 1%, 2%, 3%, 4% or even 5% or more per month,

it depends on what you actually want but you must know that most of this loan apps will start with you with small money interest and the amount they can loan to lenders varies.

  While some could loan up to 50,000 maximum others can lend as much as 1 million but one thing you should know is that most, if not all of this loan apps can only borrow people with good reputation,  that is your credit score needs to be high.

   For instance if they should lend you the first money and you are able to pay on time together with the interest without defaulting on payments automatically your credit score increases which means when applying for a loan next time on the loan app you will be eligible to borrow a higher amount.

Is there any special requirements to get loans from  loan apps?

Yess! each of the apps mentioned above has their requirements , although this might differ from apps as the loan apps is being operated by different organization.

But the basic requirements each apps has in common is
1: BVN (Bank Verification Number)
2: Your Mobile Number
3: Good Credit Score
4:Full Name
5: Account Number
6: Bank Name

  How Long does it take to get loan from  loan apps?

Well the time taken to get loan from  loan apps differs while some of them can give you loan for as fast as 5 minutes after approval others might be a little bit late.

Although I must confess to you, taking loan is never and will never be a good option if you are not very sure of paying back , and you must know that these loan apps can frustrate one’s life when you don’t pay back on time, as they would use every necessary means in recovery their money even if it means deforming your character

I am a personal finance coach, who finds joy in helping business owners and just anyone to live a successful financial life.

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