online loan App in Nigeria

Nigeria has become one of the fastest-growing markets for mobile finance. One of the most popular types is instant online loans without collateral, which are also called payday loans.  There are many providers in Nigeria that provide this type of loan and people can choose from a range of different options for borrowing money. This article will introduce you to some of the best providers in Nigeria so that you can find one that suits your needs!

Top 10 Instant online loan App in Nigeria without collateral

However, not all of Nigeria’s many lending platforms offer consumers with dependable and profitable services. The finest loan services provide immediate payment, a low yearly interest rate, and a reasonable payback period. Most importantly, they are secure and respond quickly to loan requests.

Here are some of the finest quick loan applications in Nigeria, in no particular order, that provide financial lending services to individuals, established companies, and, most crucially, the often-overlooked small-medium enterprises (SMEs).

1. Fair Money App

Due to their excellent service, the Fair Money app is ranked number one among the top lending applications in Nigeria. To complete a quick and simple application procedure, just download the app from the Google Play Store, get your funds (without collateral), and return within 15 days or one month.

You should be aware that there will be certain terms and restrictions connected to the loan, so make sure you read them before applying. In addition to offering loans, Fair Money app enables users to recharge their phones and pay their bills.

2. Carbon Loan App

Carbon, formerly known as PayLater, ranks #2 among the finest lending applications in Nigeria. It’s a straightforward, completely online lending platform that offers short-term loans to assist with unforeseen expenditures or cash flow problems.

With only an Android smartphone and a few simple requirements, you may apply for a Carbon loan 24 hours a day, 7 days a week, and find out your status in minutes.

Carbon app now offers two loan options: Pay later (open to everyone) and Pay later plus (closed to all) (loans for salary earners).

You may also pay for recharge cards, bills (including your NEPA payment), and other services via the Carbon portal.

To apply for and get approved for a fast online loan, you don’t need any documentation or collateral; all you need is an Android phone to download and use the app, as well as a form of identification. With these, you’re good to go.

To learn more about Carbon, you may download the app from the Google Play Store or go to their official website (PayLater).

3. Branch Loan App

The Branch app is the third app on my list of Nigeria’s best lending apps. Borrowing money through a Branch loan is simple and may be completed in as little as 20 minutes. Branch, like the other lending apps mentioned above, does not need any kind of collateral in order to get loans. To obtain a loan, all you need is your phone number or Facebook account, as well as your bank verification number and account information.

The Branch loan app allows you to borrow money for as little as #1,000 and as much as #200, 000 at reasonable interest rates. To get your loans, download the Branch App from the Google Play Store and fill in your personal and banking information. On the dashboard, you will notice a loan offer; you must utilize this first in order to view higher loan offers.

4. Palm Credit App

The Palm credit app is another loan-related app in Nigeria. Palm credit is an Android app that offers loans to its customers.

It’s simple and fast to do. Individuals aged 18 and above are eligible for a Palm credit loan, with a loan amount ranging from $2,000 to $100,000. You have complete control over getting the loan you want with just a few simple actions.

Simply download the Palm Credit App from the Google Play Store, put up your information (you may sign up using your phone number or your Facebook account), and finish the registration in a matter of minutes.

5. Migo

Migo, formally called Kwikmoney is another mobile loan app in Nigeria. By making loans easily accessible, it bridges the gap between you and your requirements.

All you’ll need is your smartphone and a SIM card linked to your bank account.

There are two ways to apply for a Migo loan.

1st method

To get started, dial *561# on your phone.

Select “Loans” and then “Request Loan” from the drop-down menu.

Choose the loan amount you need.

Enter your bank account information, and your account will be charged in seconds.

Method number two

Visit for more information.

In the text field, type your phone number.

On your cell phone, you will get a verification code; enter the code in the text field given.

From the option that appears, choose “Check Loan Offer.”

Choose the loan amount you need from the list of available options.

Enter your bank account information, and your account will be charged in seconds.

All loans have a 14-day grace period.

6. Quick Check

Quick Check is a cutting-edge lending platform that should be on everyone’s list of loan apps for Nigerians, whether they’re looking for personal or small business loans.

Users may get fast loans of up to #30,000 without putting up any security for 15 or 30 days, according to the website.

The more loans you take out and return on time, the better your credit score will be, and you’ll be able to borrow even more money! It’s undoubtedly one of Nigeria’s finest lending applications.

Quickcheck Loan is best successful when used in conjunction with the Jumiapay app.

7. AellaCredit

Aella credit is the next app on my list of lending applications in Nigeria. Unlike other lending businesses, it provides loans ranging from $1,500 to $90,000 with no late fees. They offer a monthly interest rate from 4% to 29% and a loan term of 30 to 60 days.

To apply for an Aella credit loan in Nigeria, follow these steps:

Download the Aella Credit app from the Google Play Store, fill up your information, snap a picture, and set your pin, and you’re ready to go. If you pay off your loan offer on time and in full, you will be eligible for a larger loan the next time you apply for one.

8. Kia Kia Loans

Kiakia means “rapid and swift” in Yoruba. Because it is quicker and simpler, Kia Kia is one of the finest loan apps in Nigeria. KiaKia is one of Nigeria’s first digital lenders and the country’s largest peer-to-peer marketplace, providing secured and unsecured loans as well as participating in well-structured profit-sharing business transactions.

They concentrate their efforts on Micro, Small, and Medium Enterprises (MSMEs) with high development potential but limited access to conventional financial institutions’ financing.

9. Credit Ville

Credit Ville is an online moneylender that offers Payroll-based consumer loans to those who qualify via their employment. Their monthly pay is then subtracted from the amount borrowed.

After fulfilling the required criteria and paperwork, Credit Ville may immediately deposit an urgent or emergency loan into your account. Credit Ville provides loan offers of up to $100,000 for up to 18 months with no collateral to help people fulfill their financial requirements. For additional information, go to their website.

10. Renmoney

Renmoney is a Nigerian financial lending platform that helps micro-businesses and small-medium companies, or SMEs, get access to capital. Emerging businesses may get up to N100,000 in loans with a monthly interest rate of 2.8 percent with Renmoney.

A strong bank statement is required for businesses requesting a loan from Renmoney. To demonstrate their capacity to repay, their transaction history should include consistent monthly income.

Top 10 banks that offer loans in Nigeria and their USSD code 

With the recent changes in the economy, banks have had to change their lending policies. Some of these top 10 banks are offering loans to their customers at rates much lower than before. Not only are they providing loans, but also USSD codes which can be used by Nigerians when doing transactions on their bank account. All you need is your phone.

The table below lists the USSD codes for major banks in Nigeria that may be used to get personal loans.

Commercial Banks In NigeriaLoan USSD Codes to Dial
Guaranty Trust Bank Loan code*737*51*51#
Fidelity Bank Loan code*770#
First Bank Loan code*894#
Skye Bank Loan code*833#
Eco Bank Loan code*326#
FCMB Loan code*389#
Unity Bank Loan code*7799#
UBA Bank Loan code*919#
Access Bank Loan code*901#
Zenith Bank Loan code*966#

How can I borrow money online?

It’s really easy to borrow money online! Just go to the google play store or app store and download your favorite bank app or any money lending application, fill out an application form for a loan, and wait to hear back. You can also go through payday loans or other websites that offer cash advances on credit cards. It’s important to be careful with how much you borrow because this will determine how long it takes until you have enough funds in your account again- so make sure you only take what you need.

Can you borrow money online instantly?

In the event of an emergency, it’s often difficult to find a reliable source for cash. Credit card companies will typically charge high interest rates on a short-term loan and require a good credit history. This is where online loans in Nigeria can provide financial relief. The process is simple: fill out the brief form with your information, upload proof of income, and you’ll be notified within minutes if approved for your requested amount – which can range from N3000-N500000.


Online lenders are becoming more popular as people turn to their phones and computers for quick financial transactions. There is a wide variety of loan options available, but not all instant online loans in Nigeria offer the same terms or benefits. We’ve compiled a list of ten top Nigerian companies that provide easy access to the cash you need without collateral so you can make an informed decision about which one will work best for your needs! Have any questions? Reach out, and we’ll be happy to help!

By Nwankwo Uche

I am a writer and a blogger who love to inspire and support startup business owners

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