Top 10 Best Loan Apps In Nigeria 2024-2025

In today’s fast-paced world, accessing quick and convenient loans has become more important than ever. Thankfully, Nigerians now have a plethora of loan apps at their fingertips, making it easier than ever to borrow money for various needs. But with so many options available, choosing the right loan app can be overwhelming.

This blog post will explore some of the best loan apps in Nigeria, helping you make an informed decision when borrowing money. We’ll consider factors like loan amounts, interest rates, repayment terms, eligibility requirements, and ease of use.

Factors To Consider When Choosing Loan App In Nigeria

  • Loan amount: Consider how much money you need to borrow and choose an app that offers the desired loan amount.
  • Interest rates: Compare interest rates offered by different apps to find the most affordable option.
  • Repayment terms: Choose an app with repayment terms that you can comfortably afford.
  • Eligibility requirements: Make sure you meet the eligibility requirements of the app before applying for a loan.
  • Ease of use: Choose an app with a user-friendly interface and a simple loan application process.

Best Loan Apps In Nigeria


  • Loan amount: ₦1,000 – ₦200,000
  • Interest rate: 1.75% – 28.8% monthly
  • Repayment terms: 4 – 48 months
  • Why it’s great: Branch boasts a user-friendly interface, quick approvals, and considers alternative data points like phone usage for credit assessment, making it accessible to borrowers with limited credit history.

2. FairMoney

  • Loan amount: ₦5,000 – ₦150,000
  • Interest rate: 1.5% – 30% monthly
  • Repayment terms: 61 – 180 days
  • Why it’s great: FairMoney is known for its transparent fees and offers other financial products like savings accounts and investments, making it a one-stop platform for your financial needs.

3. Kuda

  • Loan amount: Up to ₦500,000
  • Interest rate: Variable (based on credit score)
  • Repayment terms: Up to 12 months
  • Why it’s great: Kuda is a digital bank app with instant loan approvals, early salary access, and zero account maintenance fees. It’s perfect for tech-savvy borrowers who want a seamless banking and borrowing experience.

4. Carbon

  • Loan amount: ₦2,000 – ₦1 million
  • Interest rate: 1.5% – 34% monthly
  • Repayment terms: 4 – 12 months
  • Why it’s great: Carbon offers fast approvals, flexible repayment options, and financial management tools like budgeting and savings trackers. It’s a good choice for borrowers who need a quick loan and want to manage their finances better.

5. Aella Credit

  • Loan amount: ₦10,000 – ₦1.5 million
  • Interest rate: 14% – 24% per annum
  • Repayment terms: 3 – 12 months
  • Why it’s great: Aella Credit focuses on salaried individuals and typically offers lower interest rates than other loan apps. It’s suitable for borrowers with good credit history seeking a larger loan amount.

6. Palmcredit

  • Loan amount: ₦2,000 – ₦100,000
  • Interest rate: 1.5% – 34% monthly
  • Repayment terms: 61 – 180 days
  • Why it’s great: Palmcredit is popular for its easy-to-use app and quick loan approvals. It also offers step-up loans, allowing you to increase your loan amount over time as you build a good repayment history.

7. QuickCheck

  • Loan amount: ₦1,500 – ₦50,000
  • Interest rate: 1.5% – 30% monthly
  • Repayment terms: 15 – 90 days
  • Why it’s great: QuickCheck caters to small loan needs and offers flexible repayment schedules. It’s a good option for short-term financial needs.

8. Specta

  • Loan amount: N5,000 – N500,000
  • Repayment period: 3 – 12 months
  • Why it rocks: Focuses on women borrowers, financial education resources, empowering and supportive.

9. Renmoney

  • Loan amount: N2,000 – N5 million
  • Repayment period: 6 – 24 months
  • Why it rocks: Diverse loan options, flexible repayment plans, good for various financial needs.

10. Lendigo

  • Loan amount: N10,000 – N5 million
  • Repayment period: 6 – 18 months
  • Why it rocks: Larger loan amounts available, convenient repayment options, good for bigger needs.

Which App Can Lend Me 150k In Nigeria?

Apps offering loans around ₦150,000:

  • FairMoney: Offers loans from ₦5,000 to ₦150,000 with repayment periods of 61 to 180 days.
  • Carbon: Provides loans from ₦2,000 to ₦1 million with repayment terms of 4 to 12 months.
  • Branch: Disburses instant loans ranging from ₦1,000 to ₦200,000 with repayment periods of 4 to 48 months.
  • Aella Credit: Focuses on salaried individuals and offers loans from ₦10,000 to ₦1.5 million with repayment terms of 3 to 12 months.
  • Palmcredit: Has a long-standing reputation and offers flexible loan options ranging from ₦2,000 to ₦1 million with repayment terms of 4 to 12 months.

What Is The Easiest Loan To Get?

The “easiest” loan to get will depend on your individual circumstances and creditworthiness. However, some general types of loans tend to have less stringent requirements and quicker approval processes than others. Here are a few options to consider:

1. Payday loans:

  • Ease of access: Often advertised as “instant” or “same-day” loans, with minimal documentation required.
  • Drawbacks: High interest rates, short repayment terms (typically bi-weekly or monthly), potential for debt cycle due to quick rollovers.

2. Personal loans from online lenders:

  • Moderate ease: Simpler application process than traditional banks, often using alternative data like phone usage patterns.
  • Drawbacks: Can still have higher interest rates than secured loans, risk of scams with less-reputable lenders.

3. Auto title loans:

  • Easier for bad credit: Collateralized by your car title, potentially less emphasis on credit history.
  • Drawbacks: Risk of losing your car if you default, high interest rates, predatory lending practices by some lenders.

4. Pawn shop loans:

  • Quick access: Pawn your personal belongings for cash, typically with a short redemption period.
  • Drawbacks: High interest rates, risk of losing your belongings if you can’t repay.

5. Loans from family or friends:

  • Potentially easier terms: No interest or penalties, flexible repayment options.
  • Drawbacks: Can strain relationships if not repaid on time, may not be an option for everyone.


Loan apps can be a valuable tool for Nigerians who need quick and convenient access to credit. However, it’s important to choose the right app carefully and borrow responsibly. By considering the factors mentioned above, you can make an informed decision and choose a loan app that meets your needs.


What is the surest loan app in Nigeria?

Unfortunately, there’s no single “surest” loan app in Nigeria. Each app has its own advantages and disadvantages, and the best one for you will depend on your specific needs and circumstances.

Which Loan App Gives 50,000 Instantly?

ALAT by Wema Bank: Offers instant loans up to 4 million Naira with 2% monthly interest on a reducing balance basis for salary earners.
FairMoney: Provides loans from 5,000 to 150,000 Naira with repayment periods of 61 to 180 days and a streamlined approval process.
Carbon: Disburses loans from 2,000 to 1 million Naira with repayment terms of 4 to 12 months and is known for fast approvals.

Can I get a 2000 loan instantly?

Yes, there is a possibility: Several apps like Branch, Carbon, and FairMoney claim instant loan approvals for smaller amounts like 2000. Their approval processes are often automated and use alternative data like phone usage patterns.
But instant doesn’t always mean immediate: Even if approved quickly, the funds might take some time to reach your account depending on your bank and verification processes.

Which app gives you a loan immediately?

Branch, Fairmoney and Carbon.

Which loan app is suspended in Nigeria?

Swift Cash App, Hen Credit Loan App,
 Cash Door App, Joy Cash, Eaglecash App, Lucky Loan Personal Loan App, Get Loan App, Easeloan Apps, Naira Naija,Cashpal App, Firstnell App.

It is important to note that this list is not exhaustive and there may be other loan apps that have been suspended. You can find a more up-to-date list of suspended loan apps on the FCCPC website.

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