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20 Online Loan Apps Where Nigerians Borrow Money

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 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 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 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 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.



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.



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.



• 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 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, 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 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 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 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 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.



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, 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 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 (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 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 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 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 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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