Top 10 Best Loan Apps in Nigeria (2024)

Most people imagine long queues, countless waiting hours and time spending when thinking about applying for loans physically in the bank. Technology advancements, has helped mitigate this long process by making it easier for people to apply for loans in minutes via mobile application.

loan apps in nigeria

In this modern banking service, quick lending apps is one innovation that is making a difference in loan banking sector. These online applications are there to provide quick loans to people in request for it attend to immediate or business needs. In this write-up, we examine the best apps offering loans in Nigeria today.

Quick loan apps is very swift as applicants can get loans within 24 hours of applying for it. These apps is a major influencer as they are now the getting more patroniser because of the flexibility of the system. These users chose loan apps in lure of going the manual way of getting loans which requires more formalities and time consuming. As such, businesses and people find quick lending apps more easier and a faster route for obtaining bank loans.


This post examines the best top 10 lending apps in the country. These apps are available on Android & IOS, and we will also outline their respective distinctive features.


Palmcredit is a prominent loan app that provides loan to users of the app. One distinctiveness of the app to other loan apps is that all processes are performed with the app, rather than redirecting to affiliate websites. People above 18 are eligible to use this service and the loan amount start from N2,000 to as high as N100,000.


Below are the intriguing features of Palmcredit loan app:

  • The loan limit range from N2000 to N100,000
  • Time frame and loan duration lapse for 91 days to 180 days
  • Loan interest is between 14% to 24% while the annual loan interest is between 48% to 56%


Kwikmoney (or Migo as alternatively referred to) is another best pick of quick lending app in the country. This loan app platform is very swift as it enable users to apply for loan through their website. All processes are done on their website and there is no further need to download any app. The service of KwikMoney is very simple as they offer a more straight way to get a loan; as easy as just dialing a code the same way you borrow credit through your sim.

You can request for a loan on MTN, GLO and Etisalat network by dialing the USSD code, *564# and on Airtel by dialing *554*561#.


Below are features of KwikMoney loan app, and with these specification you would’d want to go for it;

  • KwikMoney offers loans starting from N500 up to N500,000 (the maximum limit increase as you continue lending and repaying your loans)
  • The interest rate ranges from 5% to 25% on the loans requested


Paylater is another top loan app for obtaining medium loans. In just a few click, you can control your finances with a few clicks by providing loans for individuals and small business enterprises. An added value feature of PayLater lending app is that it allows users to make payments for recharge card, NEPA bill and other cash services. Also, there are other unique features of the app which are outlined below.


  • This loan platform provides instant loan without collateral
  • Allows you to earn a reward while using your wallet for various transactions Carbon wallet, debit card, quickteller, and direct transfer are the medium through which loan payment is done.
  • PayLater offers a loan of up to N1 million.
  • This loan app also offers an interest rate of 1.75% – 30% depending on the case


Okash App Interface is an affiliate of Opera mobile payment platform, Opay. The app is highly rated as one of the best apps for quick loans. Before, the application was featured in Opay app, but it has now been moved to become an independent app on its own for convenience.

This system is fast, as all you need to do is to download the app from GooglePlay and apply for a loan with your Okash app. After downloas, open the app and sign up with your phone number, fill in your personal information, and complete the registration. Just log in, apply for the loan and see how simple it is using Okash mobile app.


Here are the features included in Okash lending app that you should know;

  • Okash loan system gives up to N50,000 maximum loan for starters
  • This loan app offers an annual interest rate of 36.5% to 360%
  • You can also apply for Okash loan using your credit card Okash offers a pay-back plan of 91 days to 365 days


Another best pick of loan apps is FairMoney. The app incorporates options for users who are interested in taking small loans for short terms. Though this system don’t support large loans, it is good for small income earners to have a start. Fairmoney offers a fast, reliable and free mobile app. Discover other intriguing features of the app in the outline below.


  • Fair Money offers instant loans ranging from N1,500 to high as N500,000
  • The duration for loans is 180 days
  • They have a flexible repayment of loans through installment
  • FairMoney also offers an interest rate ranging from 10% to 30%


From swiftness to convenience, there are many advantages why you should go for quick loan app. Let’s take a look at few of the essential benefit;


No much doubt, these loan app producers offer money loan apps that have an easy and time-efficient application process. All you need to do is create an account with the service, upload the required documents, get approved, and start applying for loans.


The loan app are very fast and reliable, as traditional loan applications take at least 4days to some extent months to get processed.


Mobile loan apps tackles the issue of complicated transfers by offering a direct transfer feature. These loan apps, for instance, instantly transfers the loan amount to your bank account after your loan application is approved in a simple, and convenient way.


The coming of quick loan apps have see off the days when you would need to go to a bank and wait for long hours to get a loan. These apps are simple, easy- to-use and compatible with every Android device and iPhone.


This is our take on mobile lending apps as we have outlined the best of this to go for and get a quick loan easily. With these apps, now you can get a loan approved at the comfort of your home by simply download the online loan app and apply for a loan in just a few time.

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Oluchi Chukwu

Oluchi is a seasoned Information blogger, content developer and the editor of Nigerian Queries. She is a tech enthusiast who loves reading, writing and research

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