Many Nigerians have sought ways of cushioning the current harsh economy the country is faced with. They now go online to borrow money from different loan apps for survival. One good thing about these loans is that they can be gotten within a few minutes.
What most of them require is an internet-enabled phone and data subscription. All you need do is download the app, follow the instructions, agree with the terms and conditions, and you are good to go.In
this write-up, DAMILARE SALAMI brings you a list of top loan apps
where many Nigerians have been getting loans without collateral, read on.
KIA
KIA LOANS
Kia
Kia in the Yoruba language means quick and fast. Kia Kia is one of the best loan
Apps in Nigeria because it is faster and easier. One of Nigeria’s pioneer
digital lenders and also the leading peer-to-peer marketplace, KiaKia offers
secured and unsecured loans and also participates in well-structured
profit-sharing business transactions. They focus their efforts mostly on Micro,
Small, and Medium Enterprises with huge growth potentials, with no access to
credit from traditional financial institutions.
FAIRMONEY
FairMoney
is another popular loan app with seamless lending procedures and excellent
customer service. Loan amounts range between 1,500 to 1,000,000 with
repayment periods from 61 days to 18 months at monthly interest rates that
range from 2.5% to 30% (APRs from 30% to 260%).
PAGE
FINANCIALS
Page
Financials is a friendly support in times of emergency needs. Whether you have
an urgent need for cash to settle bills, take care of emergencies or grab an
opportunity? Page Financials lending platform can be a good alternative. You
can apply for a loan now and get the funds in less than 3 hours, the company
says. The minimum loan amount is N100,000 and the upper limit for a new
customer is N5,000, 000. Both depend on the borrower’s capacity to repay based on
verifiable income levels and other selection criteria. A loan of N3,500,000
borrowed for 12 months has a monthly interest rate of 2.99%. No other fees are
charged.
ALAT
BY WEMA
ALAT
by WEMA is one of the easy loan apps Nigerians have been benefitting a lot from
in this harsh economic reality. The platform offers easy access to quick cash
loans without paperwork or collateral. Loans are available to all Alat
customers via Alat App or the website. As with everything else on ALAT, you can
now apply for a quick loan without collateral or paperwork, no visitation to
any physical location, and the response time between acceptance of offer and loan
disbursement is in minutes. You can now borrow as much as N2,000,000 (Two
million naira) without collateral.
PALM
CREDIT
Another
app for loans in Nigeria is the Palm credit app. Palm credit is basically an
android app that provides loans to users of the app. It is very easy and quick.
Palm credit loan is limited to individuals that are 18 years and above, and the
loan amount is within the range of N2,000 to N100,000. With just a few steps
then you have everything in your control to get the loan you want. All you need
to do is download the Palm Credit App on the Google Play store, fill in your
details, you can sign up using your phone number or your Facebook account, and
you will be able to complete the registration in a few minutes.
GTWORLD
With
GTWorld, you have a Mobile Banking and Quick Loan App that is designed to cater
to all that’s important to you easily and seamlessly. However, to enjoy its
services, you first have to open an account with the bank.
KEY
FEATURES:
•
Login and complete your transactions using your face, fingerprint or a 4-digit
PIN.
•
Check your account balance; transfer money within your accounts and buy
airtime; all without having to sign in.
•
Turn your contacts into a beneficiary list; send money to someone using just
their mobile number.
•
Apply for loans and set savings targets right from your phone.
•
Send your Account Statements to your email or to an embassy of your choice.
BRANCH
INTERNATIONAL
Branch
International is the first on our list of top 20 emergency cash immediately
loans that make it easy for the citizens to get access to quick loans up to
N500,000, transfer money for free, and enjoy investment yields of 20% per
annum. At the moment, the Branch does not provide customer support by phone number or
in person. They request customers to send them a message via the app any time and promises to help resolve whatever issues such people may have.
CARBON
Carbon,
formerly known as Paylater, is also our list of top 20 emergency cash immediately
loans. This lending platform gives instant cash to borrowers once the application
has been approved to its users. Quick cash loans from Carbon does not require
collateral, documents or guarantors. On your first try, you may not be able to
access big funds, you start by borrowing small, and paying back as at when due,
then you can have access to bigger funds. The loan platform is available 24/7.
You can apply on weekends and holidays and get a quick loan.
AELLA
CREDIT
Aella
Credit is one of the topmost on our list of top reputable 20 emergency cash
immediately loans. With this app, it shouldn’t be difficult to borrow quick
cash credit either for yourself or for your business. It shouldn’t also be
difficult to get a loan to invest, increase productive capacity, pay bills, and
get more working capital for your business. With Aella, all these are available
at the snap of your fingers.
QUICK
CREDIT
Quick
Credit has also found its way into the list of top loan apps in Nigeria. With
simple steps and minimal documentation, users can get a qualified loan product
which is 100% online process. Once approved, the loan amount will be
immediately transferred to the applicant’s bank account. Its features are Tenure: From 91 days to 365 days. Loan Amount: From NGN.1,500 to NGN.50,000.
The maximum Annual Percentage Rate (APR) is 36%. And lastly, the origination
fee ranges from 1% to 9%.
OKASH
Okash
gives you easy access to credit anytime, anywhere. It is a convenient quick online
loan platform for Nigerian mobile users managed by Blue Ridge Microfinance Bank
Limited. OKash fulfils customers’ financial needs completely online 24/7. The
application process takes just a few steps with minimal documentation and the
approved loan amount is transferred to the applicant’s bank account
Repayment
ranges from 91 days to 365 days. Loan Amount: from NGN 3,000 to NGN 500,000.
Interest Rate: With a minimum of 0.1% up to 1%. The interest rate is calculated on
a daily basis. The annual interest rates range from 36.5% to 360%.
RENMONEY
RenMoney
is managed by a group of technology and finance enthusiasts who are passionate
about making financial inclusion count in Nigeria. With Renmoney, you can apply
for a convenient loan to meet needs like growing your small business,
renovating your home, buying a new car, paying rent, school fees, medical
bills, etc. For instance, a loan of N2,000,000 borrowed for 12 months. Monthly
Interest Rate: 2.9%. Total Amount Payable: N2,683,430. APR: 34.17% No other
fees.
UMBA
Next
is Umba. It’s hosted on both Google Play Store and Apple Store and prides
itself as the leading digital bank in Africa. The app allows users to apply, draw down and repay loans directly from their smartphone or desktop computer.
Once an individual is verified, it makes lending decisions based on an assigned
risk rating.
MONEY
IN MINUTES
Money
In Minutes, coming 10th position on our rating of top 20 emergency cash
immediately loans, is managed by MIM Finance Company, a UK-originated lending
platform with a presence across three (3) continents and Nigeria’s 1st Credit
Membership that gives instant cash. The organization code-named MIM Finance
Company has been enabling lives and businesses for over twenty (20) years now
with its quick online loans and other related business support. MIM gives quick
loans from N25,000 to N2m at interest rates of 4% to 30%.
QUICKCHECK
QuickCheck also comes on our assessment of the top 20 emergency cash immediately
loans, and it uses machine learning to predict borrowers’ behaviour and
instantly evaluate loan applications.
The
company aims at offering digital financial services to help people get closer
to their personal and business goals.
MIGO
Migo
(formerly kwikmoney) ranks the 12th
position in our list of top 20 emergency cash immediately loans. Migo is a
cloud-based digital lender in Nigeria that enables you access to instant loans
and if willing, to make purchases from merchants or withdraw cash without the
need for a smartphone, point-of-sale hardware or plastic cards.
Migo
strives to ensure your online loan request enters your account (or the account
of the merchant you are paying) right after you complete your application
session. Loan amounts range from N500 to over N500,000. The loan agency usually
starts with a small loan and grows your loan offers over time as you borrow and
repay consistently and build trust with the system.
MONEYPAL (ZEDVANCE)
MoneyPal
owned and managed by Zedvance Limited is the 13th position rating on our list
of top 20 emergency cash immediately loans
Zedvance
Limited is a consumer finance company that offers loan packages that cater to
all your financial needs regardless of what they may be. The company claims an
eligible individual or small business can get up to N5million quick loan in 5
hours. Customers can enjoy loan tenors for up to 24 months at an Annual Percentage
Rate (APR) of 34.8% – 365%.
C24
CAPITAL
C24
Capital takes the 14th position on our 20 top emergency cash immediately loans.
The platform provides retail loans for consumers in need of quick financial
solutions and is focused on delivering services that can be accessed online,
from any internet-enabled device anywhere within Lagos. C24 Capital does not
exist on Google Play Store or App Store and therefore application has to be
completed on the company’s website.
LENDIGO
Lendigo
prides itself as Nigeria’s No 1 SME Finance Provider. The lending platform
offers Nigerian SMEs easy, fast and flexible access to working capital
according to their business requirements and suited to their finance needs.
If
you are an SME that provides Retail and Professional Services as well as traders
of general merchandise such as Electronics, Computing, Phones, Fashion &
Apparel, Household Goods among others, then you can apply for Lendigo loan in
minutes and get it processed for you.
SPECTA
LOAN APP
Specta
is also on our list of Top 20 emergency cash immediately loans. Specta
is an online lending platform that gives you loans of up to 5 Million in one
transaction all within 5 minutes! No collateral, no paperwork and no visit to
any office.
With
Specta, you can take care of urgent personal and business needs anywhere,
anytime. The Specta4individuals package is particularly tailored toward
accessing a personal loan of up to N5 Million without collateral in 5 minutes.
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