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App to Borrow Money in Nigeria Easily: Top 9 (Nine)

App to Borrow Money in Nigeria Easily: Do you know there are apps to borrow money in Nigeria?

These apps make borrowing money way easier than you can imagine. Securing a loan for personal or business purposes has evolved into a more seamless process.

App to Borrow Money in Nigeria Easily

With a smartphone and internet connection, anybody with a bank account can put in a loan request at any time and receive it instantly, in most cases. Interestingly, some loan companies even allow you to use a feature phone by dialling a particular USSD code.

Nigeria, like every other emerging market, is experiencing a surge in money lending companies. But not all of these companies provide reliable and secure services. The best loan services should provide the following:

  • Instant disbursement.
  • Have a low-interest rate.
  • Also, there should be a sufficient repayment time frame and options.
  • Ultimately, there should be good customer relationships.

In no particular order, in this article, you will learn about some of the best instant loan apps to borrow money in Nigeria easily.

Why the App to Borrow Money in Nigeria is Important

You may be wondering: Why do we have the need for an app to borrow money in Nigeria? If you have ever asked such a question, then listen up.

Most often, many individuals and business owners might need some extra cash to in handling some financial issues around them.

In times like this when all means of getting money have been exhausted, the best alternative is to consider getting a quick and easily affordable loan online.

The process of accessing quick loans in Nigerian banks is quite lengthy and tedious. Thus, this is why an app to borrow money in Nigeria online becomes necessary.

App to Borrow Money in Nigeria Easily

Here is a list of the top 9 mobile apps to borrow money in Nigeria:

1. Paylater

This is one great app to borrow money in Nigeria. Paylater is an easy-to-use and entirely online lending platform.

It provides short-term loans to individuals and small businesses in Nigeria. The aim is to help cover unexpected expenses or urgent cash needs.

With Paylater, you can access up to ₦500,000 loan with no collateral. Once your application is approved, funds are typically received within 1 – 3 business days. Making on-time repayments can grant you access to higher credit limits for your next loan.

2. Palmcredit

PalmCredit is a virtual credit card. It makes it easy for you to access a loan anytime and anywhere. Palmcredit offers loans of up to ₦100,000 within minutes on your mobile phone.

Interestingly, this is one great app to borrow money in Nigeria. With PalmCredit getting a mobile loan is simple.


3. Branch

This is one great app to borrow money in Nigeria. 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.

Also, Branch offers loans from ₦1,500 to ₦150,000. Loan terms range from 4 – 64 weeks. Interest ranges from 14% – 28% with an equivalent monthly interest of 1% – 21%. However, this depends on the selected loan option.


4. QuickCheck

This is one great app to borrow money in Nigeria. 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.

Also, according to the platform, users can access quick and hassle-free loans of up to ₦30,000 without any collateral for a duration of either 15 or 30 days.

You can get the QuickCheck App on Google Playstore.

5. Aella Credit

Aella Credit is building platforms that make it easier for individuals in Africa to gain access to financing.

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

Being one great app to borrow money in Nigeria, Aella Credit uses a proprietary credit scoring algorithm to determine the creditworthiness of its users.

Also, 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.

6. FairMoney

App to Borrow Money in Nigeria Easily: Top 9 (Nine)

This is one great app to borrow money in Nigeria. FairMoney offers short-term loans. And it is to help cover urgent needs, bills, business and much more.

Also, it gives access to loans at any time and anywhere. And this is with a loan application within 5 minutes.

FairMoney packages include:

  • Personal loan.
  • Education loan.
  • Business loans and more.

With the effective use of technology, it is able to provide a speedy and efficient loan app to all our esteemed customers.

7. KiaKia

This is one great app to borrow money in Nigeria. KiaKia is a mobile web app. And it gives you access to personal and small business loans.

Also, it enables savers to lend out funds at negotiated interests through intuitive conversations. KiaKia utilizes psychometry, big data, machine learning and digital forensics for its proprietary credit scoring and credit risk assessment algorithm.

The above is to provide direct and peered personal and business loans to millions of individuals and SMEs without credit information.

8. Carbon

Originally launched as PayLater, Carbon gives instant credit access to anyone in need of an urgent loan within minutes.

Also, Carbon requires its users to input their Bank Verification Number (BVN) for verification, and once that’s done they can request a loan.

It is one great app to borrow money in Nigeria. Carbon loans range from ₦1,500 ($3.6) to ₦1m ($2430.13) in Nigeria and Ksh 500 ($4.55) to Ksh 30,000 ($273.10) in Kenya.

Also, it allows repayments over a maximum of 64 weeks. And this is with interest ranging from 1.75% – 30%, with an equivalent monthly interest rate of 1 – 21%.


ALAT is another great app to borrow money in Nigeria. This is a simple, and entirely digital platform that grants quick and instant loans without any form of paperwork.

Also, ALAT does not require a visit to a physical location and the response time between loan acceptance and loan disbursement is in minutes.

All you have to do is:

  • Download the app from Play Store or App store.
  • Sign up.
  • Click on the loan option from the menu.

After you have completed all necessary documentation, an evaluation of your risk store will be conducted. And a range of loan offers will be presented to you along with the applicable duration and interest rate.

Once you click on your preferred loan offer and accept it, your account will be credited. With this platform, you can borrow as much as 2 Million Naira without collateral.

Very Important Information

While most of these platforms claim to offer quick loans without any collateral, it is advisable to carefully study their Terms & Conditions (T&C) before throwing in an application.

Another factor to consider is the interest rate and payback period. As a business, you will not want to go in for loans with a very short payback period except you are very sure you will earn back the money in no time.

Again, carry out research about their authenticity as well. However, they provide a great opportunity to get a loan easily.

Do you find this page insightful? If yes, then share it with your loved ones.

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