Top 15 Best Instant Loan Apps in Nigeria – Legit Loan Apps

Top 15 Best Instant Loan Apps in Nigeria – Legit Loan Apps

Most times, when we fall into financial difficulties or emergencies and do not have savings or someone who can lend us money we become distressed. In today’s world, loans are slowly falling out of the sole reserve and functions of the bank. This is due to many lending platforms and institutions that now offer quick and easy access to small and big-size loans, low-interest rates, flexible repayment time, and instant payment.

Many banks and lending platforms have utilized the role of technology to make life easier for their customers by developing loan mobile apps. Not to worry! These platforms are safe and reliable and can be accessed easily from a mobile app. However, It can also be used to run a business, pay bills or make personal purchases.

Unlike in the past when people go through a huge amount of paperwork when applying for loans, in the current era, your mobile phone is all you need to get access to instant loans provided you know legit loan apps.

So, If you’re on the fence thinking about the best loan app to use, here is the list of the 15 best instant loan apps in Nigeria.

• Carbon

Carbon, formerly known as PayLater, is an easy lending platform that gives instant access to loans. It offers short-term loans that enable you to pay for immediate expenses and emergencies.

With this platform,  you can request and receive a loan easily without any paperwork. All that is needed is your Bank Verification Number(BVN) to verify loan credit. You can also get up to 20 million with interest rates from 5% to 15%. 

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• Branch

The branch is one of the most popular and reliable apps in Nigeria. This lending platform has created its loan process in a way that fits the needs of users. Branch offers you the opportunity to larger loan amounts as you build credit.

Also, it has made the lending process easy by doing away with documentation. All you have to do is download the app on your smartphone, register, request a loan and wait for confirmation.

• AellaCredit

Aella Credit is a loan app in Nigeria that gives access to instant loans. Aside from loans, it’s also an investment platform, bill payment, and a marketplace for health insurance services. It provides borrowers with an interest rate of 6% to 20% monthly and a repayment day within 3 months.

• Alat by Wema

Alat is a simple fully digital bank that gives instant loans without any form of paperwork, collateral, or visit to the office. 

All you need to do is download the ALAT app on your mobile phone to get a mobile loan in Nigeria. However, a quick credit check will be made when you apply for a loan to see if you are eligible and you will be credited within a few minutes. 

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• PalmCredit

Lending from the PalmCredit app is simple and can be done in a few minutes. It has a direct service that enables its users to have access to instant loans of up to N2,000 to N 100,000 and as well rewards users who refer others to their service. However, you must be 18 years old and above to be able to qualify for loans. 

• Umba

Umba is a lending platform relatively new to the Nigerian finance space. It provides full banking services aside from offering loans. With the Umba app, borrowers can pay bills, spend, get loans and repay loans all from their smartphones. Umba app also offers smart and affordable loans at very low-interest rates and makes paying back easy as well.

• iCredit

iCredit loan App is one of the leading platforms that offer safe and flexible loans in Nigeria. Its loan offers run from N 1,000 to N 50,000 without a visit to the office, no paperwork, and no guarantors required.

Borrowing from iCredit can be done from the beginning to the end user with only a smartphone. All you have to do is download and install the iCredit mobile loan app, provide the relevant information such as ID card, BVN, and employment status and wait for the approval. The fund will get disbursed into your account once your information is verified.

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• Migo

Migo also known as Kwikmoney is an embedded lending platform that focuses on enabling companies to provide credit for consumers and small businesses. It also offers low-interest rates and flexible repayment terms.

Simply visit their website kwikmoney.com and fill out the form completely with the required information. After this, your debit card details will be registered for easy repayment.

• Specta Loan

Specta loan is an online lending platform from Sterling Bank. It provides quick funds of up to N5 million within five minutes of the transaction. With Specta loans, borrowers can cover personal expenses and emergency needs anywhere and anytime without collateral or paperwork.

• QuickCredit

QuickCredit is a product of Guarantee Trusted Bank. It provides instant loans to both salary earners and self-employed. It has a long tenure of up to 12 months. 

You can have access to loans up to five million Naira at an interest rate of 1.5% per month with no hidden charges. Also, QuickCredit can be assessed instantly by just downloading GTbank mobile banking mobile app or by dialing *737*51*51#.

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• CoolBucks

CoolBucks is an online lending platform that provides easy access to loans without collateral or a visit to the office within a few minutes of completing your application. With CoolBucks app, funds can be disbursed into your account within five minutes to 24 hours of submitting your application depending on your profile

Coolbucks loan offers range from N15,000 for low-income earners and N5,000,000 for high-income earners.

• FairMoney

FairMoney is one of the loan apps that is stress-free in Nigeria. It provides as much as N150,000 to borrowers without collateral and paperwork. FairMoney also enables you to disperse your repayment in multiple portions to help improve flexibility and also makes the app and services easier to use. However, You can unlock more benefits by paying credit in time.

• QuickCheck

QuickCheck is one of the best loan apps for students or anyone looking for an insecure loan in Nigeria. It also offers up to N10,000 for new borrowers. With the QuickCheck app on your smartphone, you can get instant loans disbursed straight into your account within a few seconds of application.

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• CreditVille

CreditVille is a quick loan for salary earners and business owners in Nigeria. It is fast and 100% stress-free. CreditVille loan offers range between N100,000 to N6,000,000 and a long-term of up to 18 months without paperwork and collateral to be qualified.

To apply for loans at CreditVille, simply visit their official website creditville.ng, and fill out the application form and you get your applied loan instantly.

• QuickBucks

QuickBucks is an online lending platform from Access Bank available for both customers and non-customers of Access Bank. However, You may need to provide certain documents during the application. And once approved, you will receive your applied loan within 24hrs of application depending on the lender involved.

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