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Best 5 Loan apps in Nigeria with Low interest & long duration

In Nigeria, loan apps are becoming a new norm in most individuals or business owners smartphones, where they get access to credit loans of upto ₦500,000.00 all from the comfort of their homes with no collateral or heavy document processing.

We have makeup a list of best loan apps for android and iphone users in Nigeria, to get credit loans to settle for house rents, business innovation, school fee or even medicals all by applying with no collaterals.


To get loans from most loan apps, you will be required to have some parameters to grant your eligibility, below are parameters or requirement to apply for loans using your mobile devices.

  1. Smartphone: Android or iPhone
  2. BVN, a bank verification numbers
  3. working ATM card, whose expiration length is more than 3months from date of application.

If you’re new to getting credit loans, please, i’ll be sharing with you best methods, fintech, strategies to increase your credit limits.

Top 5 best Loan apps

We know there are about 32 Fintech companies that offer credit loans in Nigeria, using mobile devices with no collaterals, but among the huge list is a list of best performing loan app.

How did Freebrowsingeeks.com selects

We created this list from performing loans app using this parameters:

  1. Credit loan limits
  2. Payback duration of credit loan
  3. Interest rate on loans
  4. Application processes
  5. Customer response & relationship
  6. Application build (Navigation simplicity & accesibility)

1. Opay

Opay is the best on our list of top 5 loan apps simply because of its simple application, verification and distursement process. Collecting credit loans from Opay takes only 30 minutes.

Website: https://ng.o-kash.com
Credit Limit: ₦3,000 - ₦50,000
Get app: Android (as Okash) or iOS (as Opay, CreditMe feature)


The downside of Opay is her credit limit for new customers, but that’s still ok. Other loan apps require BVN and verification using your mobile number linked to BVN. For most Nigerians, mobile number linked with BVN has been lost and claimed by others.

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Verifying and collecting loan in Nigeria is most effective with Opay than any other credit loan app, but most work with the NO COLLATERAL basis.

2. Carbon

Truth be said, Paylater now known as Carbon is very nice when it comes to getting credit loans based on their pay back duration. Reason there secured the second spot on our list is their slow customer care response, but that is nothing as compared to other platform full of sh*t response (bot).

Website: https://ng.getcarbon.co/
Credit Limit: ₦5,000 - ₦70,000
Get app: Android (Carbon: instant loans) or iOS (Carbon: fast loans)


Carbon offers a very fast credit loan services and their interest is not high, from 15.5% which low compared to 21% of other loan app platforms.

3. Palmcredit

PalmCredit is good credit loan receiving app for Nigerians, very reliable and fast. Full of activities to engage in to increase your credit limit.

Website: NOT WORKING! Social links ( Palmcredit FB, Palmcredit Twitter)
Credit Limit: ₦2,500 - ₦100,000
Get app: Android (Palmcredit: instant loans online) or iOS (NONE)


With PalmCredit getting a mobile loan is simple with your android phone as there don’t support iOS yet.

4. FairMoney

FairMoney is best for small businesses who want to obtain loans on a short run. They offer the highest amount of credit loan per application which in most cases ends up at 500,000 naira but they claim to offer upto a million naira (not verified).

Website: https://fairmoney.io/
Credit Limit: ₦5,000 - ₦500,000
Get app: Android (Fairmoney: instant loans) or iOS (NONE)


Only available on the android platfom via Google play store. Fairmoney is a fast growing fintech know for their loan services.

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5. Branch

Branch is a simple yet powerful mobile loan app in Nigeria and Kenya. Getting quick and instant loans on Branch App is so fast and easy. It will help you sort out your financial issues in real time.

Website: https://branch.com.ng/
Credit Limit: ₦5,000 - ₦500,000
Get app: Android (Branch: loans & digital banking) or iOS (NONE)


Branch offers the longest possible loan duration for personal and business loans, with an outstanding interesting rate between 14 – 28%.

Other good loan apps

1. Aella Credit

Aella Credit is purpose driving, whereas providing platforms that make it easier for individuals in Africa to gain access to financing.

You’ll have to create an account with Aella credit before accessing other features.

AellaCredit are mainly focused on employee lending and empowerment, the company was affiliated with three main credit bureau agencies in Nigeria to provide quick and affordable loans with no paperwork to its customers.


Aella Credit uses a proprietary credit scoring algorithm to determine the creditworthiness of its users. The algorithm, which was built after the team gathered over five years of market data and analysis, processes an applicant’s eligibility for a loan by considering social and demographic factors as well as their debt to income ratio.

2. QuickCheck

QuickCheck is a modern lending platform for individuals and small businesses. QuickCheck uses mobile technology to enable individuals and small businesses to gain access to financial credit.

Get on android QuickCheck - Fast Loans

Interestingly, she offers her customers the platform to access quick and hassle-free loans of up to 30,000 Naira without any collateral for a duration of either 15 or 30 days.

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3. KiaKia

KiaKia is a loan service app that offers loans to individuals and businesses on a peer-to-peer basis primarily. Available on the web and android platforms.

Get on android Kiakia P2P.

This is the only P2P loan platform mentioned here. Kiakia users high computer algorithm to access and determine your loan eligibility amount. Though not as effective as it claims but it’s based on a peered basis, so, depending on your information provided, you can get chances of gain loan favours from lenders on the platforms.

Best Loan App Recommendation.

In conclusion, we have analysed and resulted in the two best loan category, the personal loans for personal/individual needs and the small business loans for bsuiness startups and runnings.

Palmcredit is the best to get small and personal loans while Fairmoney is the best when it comes to collect loans for your small business setup & needs.

It’s important to read and carefully note down the terms and conditions of any loan app you are working with. Most loan app are dangerous to work with while other prove safe.

Recently, Okash from Opay has shown some security flaws which if not treated will result in de-ranking from our list of top 5 best loan apps in Nigeria.

Stay tuned as we’ll be updating this list regularly in favour of those looking for best loan apps to collect loans in Nigeria.

Have Questions or Suggestions? Comment!

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