Loan Apps in Nigeria: Get quick Loans while Installing these Apps

Loan apps in Nigeria

Need a loan? Check out these loan apps in Nigeria that gives you quick loans without collateral in 2020 when you download and install them on your Android phone either via Google play store or through Apple play store for iOS users.

Most of, or all of these loan apps are headquartered in Lagos, Nigeria or in Abuja, Nigeria and has been providing loans to Nigerian consumers from day to day. Yes these apps gives you instant online loans in Nigeria with low interest rate anytime you install it on your mobile phone.

Gone are those days when you have to go to the bank to seek for loans and you have to wait for up to 1 hour just to get your loan application form. And even if the decides to give you loans the will still request for collateral or documentation before giving you a loan.

Thanks to mobile technology and money lender's, we can easily request for loans online without collateral or documentation by installing the app on your mobile phone anywhere you are either at home, office or work.

How these loan app in Nigeria works

These loans app works in the following ways in Nigeria:

1. Download the App

Before requesting for a loan any of these apps in Nigeria, you are expected to first download and install the app via Google play store or any other ways you can think of.

2. Create an account

Upon installing the app, you have to register by creating an account with them. Once you are done, hide/protect your details from third party.

3. Apply for loans

Once you are done creating an account, login to the app, click on apply, apply for loans based on your loan limits, know your interest rate and set your repayment date.

4. Loans disbursement

Loans disbursement takes place instantly within 5 minutes of applying. You receive your fund's directly to your bank account.

 5. Loans repayment

Once you receive your loans, please try to repay your loans before, or, on its due date(s) to avoid being penalized or being reported by the national credit bureau (NCB).

Best loan apps in Nigeria 2020

Here is the list of the best loan apps in Nigeria that offers quick loans without collateral in 2020:

1. Fairmoney

Loan apps in Nigeria

Fairmoney is a licensed online lender, that provides quick and instant loans in Nigeria through the app, to individuals, salary earners and small scale business owners through the app. Fairmoney is one of the best loan apps in Nigeria and You can also renew your cable TV subscriptions and recharge airtime & data with a -10% discount and no transaction fee.

Fairmoney is said to be among the best loan apps in Nigeria and they offers loans from N1,500 - N500,000 for a period of 1 - 3 months without collateral. You will only need to share your BVN during the loan application and connect your ATM card to authorize fairmoney to debit your account for the repayment. The interest rate varies based on your profile, from 10% - 30% per month.

How to Apply

  • Install the fairmoney app
  • Click "Apply" on the home page
  • Sign up with the phone number linked to your BVN
  • Answer a few simple questions and confirm your identity
  • View your loan offer
  • Select amount and repayment tenor
  • Accept loan offer
  • Enter bank details to receive your fund's
  • Repay on time to increase your loan offer.

2. Branch

Loan apps in Nigeria

Branch is one of the best loan apps in Nigeria that offers 24hrs loan in Nigeria. It gives you loan up to N200,000 for a period of 4 weeks - 40 months without collateral. With an interest rate of 14% - 28%, and an equivalent monthly interest of 1% - 21%.

Requirements are simple, all you need to apply is your phone number linked to your BVN or Facebook account, BVN and account number. Branch will also request access to the data on your phone including your SMS history in order to build your credit score.

How to Apply

  • Install the branch app
  • Register by creating an account
  • Fill in your details
  • Click on "my loan" at the top left corner
  • View your loan offer
  • Select amount and repayment tenor
  • Click on "request this loan" to proceed
  • Receive your loans within 24 hours
  • Repay on time to increase your loan offer.

3. Sokoloan

Loan apps in Nigeria

Sokoloan is a micro-finance institution that tends to increase opportunities for the poor to access financial services by providing short time loans to help cover unexpected expenses or urgent cash needs. up to N100,000 with a period of 91 days - 180 days without collateral.

With an interest rate of 4.5% - 34% with an equivalent monthly interest of 3% - 29% to low income entrepreneurs, grassroots employees of SMEs, women with entrepreneurs needs, student's who wants to learn, shoppers with consumer needs, traders and small scale farmers etc.

Requirements are simple, all you need to apply is your phone number linked to your account, your bank account and BVN. Sokoloan make use of data on your phone including your SMS history to verify your identity and create a credit score.

How to Apply

Follow these steps in other to get a loan from sokoloan:
  1. Download the sokoloan app from Google play store
  2. Click on the "sign-up button to register
  3. Fill in out a form (personal details, bank details, BVN)
  4. Apply for a loan and choose it's repayment term
  5. Upload your means of Identification
  6. Receive your loans directly to your bank account.

4. Palmcredit


Loan Apps in Nigeria

Palmcredit is one of the best loan lending platforms that offers 24 hours loan in Nigeria. Owned by transsnet financial LTD. Palmcredit offers loans up to N100,000 with a period of 3 - 6 months without collateral to individuals, salary earners and small scale business owners who are in need of cash.

Palmcredit interest rate ranges from 14% - 24% with an equivalent monthly interest of 4% - 4.7%. All loan application is being done upon downloading and installing the palmcredit loan app via Google play store.

Requirements are simple, what is needed is to provide any valid means of identification, your phone number linked to your account and your bank details.

How to Apply

Applying for a loan on Palmcredit easy, follow these steps:
  1. Download and install the Palmcredit loan app
  2. Create an account
  3. Apply for a loan based on your loan limit shown within the app
  4. Receive your loan within 24 hours if being accepted directly to your bank account.

5. Page Financial


Loan Apps in Nigeria

Page financial is one of the best loan app in Nigeria that offers quick and instant loans up to N5million without collateral to only salary earners or small scale business owners living in Lagos or Ibadan.

You can also transfer money, invest at high interest rates, recharge airtime and pay bills while using the app. Page financial is license by the central bank of Nigeria. Page financial offers no fixed interest rate on a loan. The interest rate is dependent on different factors such as the loan amount, tenor, current salary etc.

Requirements are simple, what is needed is your phone number linked to your BVN, your employment or offer letter, valid means of identification, past 6 months bank statement of account and your bank details.

How to apply

  • Install the page financial app
  • Fill in your BVN number
  • You will receive an OTP on the phone number associated with your BVN. You will need to input the OTP, your residential address and email address
  • You will receive an SMS with your page account number and a default password
  • The login ID and a password change request will be mailed to you. kindly ensure to change your password for your security reasons
  • Upon completion of the above, login again using your registered email and password to start enjoying it's services
  • Click on "apply for a loan" if you want to borrow loan
  • Fill in your details such as name, phone number, bank details etc.
  • Choose any amount of money that is being displayed for you (minimum amount is N200,000 and maximum N5,000,000)
  • Select it's loan repayment tenor and see your interest rate
  • Receive your loan within 3 hours if being accepted directly to your bank account.

6. Carbon (Paylater)

Loan apps in Nigeria

Carbon is a simple, mobile platforms based in Lagos Nigeria. They has a loan system that is specifically designed for the Nigerian consumers when the download and install the carbon loan app.

With carbon loan app, individuals can apply for a loans up to N30 Million without collateral for a maximum period of 6 months. Apart from giving out loans to individuals, you can also check your credit score, make bill payment, invest your money through carbon investment platforms.

How to Apply

  • Download and install the carbon app from Google play store
  • Register by creating an account
  • Apply for loan
  • Receive your money
  • Repay on time to increase your limits.

7. Quickcheck


Loan apps in Nigeria

Quickcheck is a Nigerian fintech company that provides instant loans to Nigerian consumers up to N500,000 for a period of 12 months without Collateral.

All your quickcheck loan application is being done through the app via the use of your Android phone with access to the internet.

How to apply

  • Download and install the quickcheck loan app via Google play store
  • Register by creating an account
  • View your loan limits
  • Apply for a loan
  • Receive your money online directly to your bank account
  • Repay before your loans due date.

8. 9jaCash

Loan apps in Nigeria

9ja cash provides an online loans in Nigeria up to N300,000 with no collateral, to individuals, salary earners, or small scale business owners through it's App.

Each one of us needs money at times to carter for our needs which could not be met solely by depending on savings. So seeking for loans in such difficult moment will be a perfect idea and 9ja cash quick loan app is right their for you.

They make getting a personal loan as easy as ABC by using the data on your phone including your SMS history to verify your identity and create a credit score. They encrypt the data you choose to share with them and protect your information.

How to apply

  • Download the 9ja-cash loan app via Google play store
  • Create an account
  • Apply for loans
  • Fill in your documents
  • Receive your money
  • Repay on time.

9. Aella Credit


Loan app in Nigeria

Aella Credit is a financial services provider based in Lagos Nigeria. With Branches in Abuja and some other parts in Nigeria. They give out quick online loans in Nigeria up to N1million for a period of 3 months.

Before you begin your aella Credit loan application, you are required to install the aella app via Google play store or through Apple store for iOS users.

How to apply

  • Download the Aella Credit App
  • Register by creating an account
  • Browse through and view your loan limits
  • Apply for a loan based on your limits
  • Receive your loans in 5 minutes
  • Repay on time

Conclusion

Now that you already knows all the best loan apps in Nigeria that offers quick loans without collateral in 2020. Select any of your choice, download the App, read through its terms and apply for loans without collateral. 

Please note, all your informations and bank details you choose to share with any of these loan apps in Nigeria are safe and can never be revealed to any third parties.