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Top 20 Best Loan Apps In Nigeria For Quick Lending In 2022
This article will address the very best and reliable top 20 loan apps in Nigeria for quick and fast lending services. You are therefore in the right place if you need an instant loan for your financial emergency.
There are quite a number of complaints we have received from customers about the unethical practices by fraudulent and illegal online lending platforms, and we have decided to change the narratives by making our own recommendation from customer feedbacks and practical experiences of our own top 20 “best for” picks for quick lending in Nigeria. The make up of this carefully selected list are in our opinion the most legit instant loan apps in Nigeria in 2022 for emergency cash loans, for low interest, with the highest loan amounts of up to N100,000, to N200,000 and even more, for business loans and generally considered by customer feedback and reviews as most reliable and reputable.
These recommended digital lenders are dependable, are reachable and operate fast loan processing procedures with no need of collateral, documentation or guarantors, to meet your emergency demand for funds and urgent financial obligations. There are many lending platforms and digital banks out there and you may be tempted to contact just anyone that comes handy. However with the threatening and defamatory messages from many fake loan apps and loan sharks these days, it may be necessary to only patronize platforms that are customer friendly and wont compromise your private data to unsolicited public and practice only high ethical lending standards.
How To Use Emergency Loan Apps To Apply For Quick Lending In Nigeria in 2022
QUICK LOAN ARENA understands that most of the quick loans have zero physical documentation, and no need of collateral and it can be applied online just using your mobile phone. By visiting the official website of the lender or downloading their apps either from Google Play Store or app store, you will be able to apply for instant cash. You will have to enter your personal and income details for loan processing. After entering basic details such as address, BVN, NIN, bank details, photograph, etc., and uploading the valid documents, your loan will be approved or rejected.
Typical features that accompany most of the lending apps include quick registration process, quick Verification, no collateral, documentation or guarantee required. However you may have to put up with their higher interest rate and lower tenure usually within 1 to 12 months. Please do note that we discourage our readers from patronizing loan sharks, with less than 30 days loan tenure.
Our 20 “Best For” Picks For Loan Apps In Nigeria if you Require Quick Lending Platforms in 2022
Below is our comprehensive list of Top 20 Best Loan Apps In Nigeria for 2022 (And What Each of Them Are Best For!).
- Branch — Best for Low Interest
- Carbon — Best for Building Credit Score
- FairMoney — Best for Extended Loan Tenure
- Aella Credit — Best for Easy Loan Processing
- Umba — Best for No Late Fees or Rollover Charges
- Money In Minutes — Best for Fast Loan Processing
- Page Financials — Best for Instant Disbursement
- Alat By Wema — Best for Salary Earners
- Lendigo — Best for Small Business Loans
- Migo — Best for Quick Lending Decisions
- Access More — Best for Payday Loans
- Specta — Best for Non Salaried Individuals
- Lidya — Best for High Amount Business Loans
- SukFin — Best for Indirect Lenders
- Renmoney — Best for Microfinance Bank Loans
- Quick Credit — Best for Good Customer Service
- Coolbucks — Best for Monthly Instalment Loans
- GTWorld QuickCredit — Best for Account Holders
- QuickCheck — Best for Customer Data Privacy
- Moneypal (Zedvance) — Best for Rapid Disbursement
1. Branch — Best for Low Interest
Branch is one of the best instant loan apps in Nigeria and our top pick for low interest, fast and emergency loans in 2022. Branch’s 2.5% to 20% monthly interest is the most competitive. The loan app’s APR of 18% to 260% is considerably lower than that of Fairmoney, Carbon, Palmcredit, and other rivals in the mobile loan sector.
The money lending app makes it easy for borrowers to get quick loan of up to ₦500,000, to transfer money for free, and enjoy investment yields of 20% per annum. You can simply apply through the Branch app and get approved in under 24 hours.
Branch don’t charge late fees or rollover fees, nor put restrictions on how you spend your money, and our customer support team is available 24/7. If you ever needed loan apps in Nigeria for instant cash that are reliable, this is one of your best pick.
Requirements are simple – all you need to apply is your phone number or Facebook account, bank verification number (BVN) and bank account number. They will also request access to the data on your phone in order to build your credit score.
To Apply for a Loan from Branch, CLICK HERE
2. Carbon — Best for Building Credit Score
Carbon, formerly known as Paylater, is our 2nd pick in the list of top 20 instant loan apps in Nigeria and it is our best for building credit score in 2022.
Digital loan from Carbon do not require collateral or guarantors. At your first try, you may not be able to access big cash, you start by borrowing small, and paying back as at when due, thus gradually building good credit history which eventually makes you to have access to bigger funds.
The loan app platform is available 24/7. You can apply for instant cash on weekends and holidays and get your loan approved.
To download the app on Google Play Store CLICK HERE.
3. FairMoney — Best for Extended Loan Tenure
FairMoney is our 3rd pick on our list of top 20 instant loan apps in Nigeria and it is our best for extended loan tenure in 2022.
Loan amounts range between ₦1,500 to ₦1,000,000 with repayment periods from 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%)
You can download the FairMoney app on Google Play Store by clicking here
4. Aella Credit — Best for Easy Loan Processing
Aella Credit loan app exists to simplify and open up financial access for all in emerging markets by leveraging technology and widespread mobile adoption for Nigerian borrowers. It is our “best lending app pick” for easy loan processing for consumers in Nigeria for 2022.
The mission statement of the credit company is to help customers build financial independence by providing access to simple products; quick loans, instant cash, investment opportunities and bill payments. And this organization does it seamlessly.
You can download Aella Credit app on Google Play Store by clicking here.
You can download Aella app on App Store by clicking here.
5. Umba — Best for No Late Fees or Rollover Charges
Umba is the 5th pick on our list of instant loan apps in Nigeria and it is our best for no late fees, rollover charges or origination fees in the year 2022. The lender prides itself as the leading digital bank in Africa. The app allows users to apply, drawdown and repay loans directly from their smartphone or desktop computer.
Once an individual is verified, it makes lending decisions based on an assigned risk rating.
You can download the Umba app on Google Play Store by clicking here
6. Money in Minutes — Best for Fast Loan Processing
Money in Minutes is our 6th pick on the list of top instant loan apps in Nigeria and our “best for” fast loan processing in 2022. The platform is managed by MIM Finance Company, a UK-originated lending platform with presence across three (3) continents and Nigeria’s 1st Credit Membership that gives instant cash.
The platform has a robust and wide range of products to help you access affordable finance for various needs and purposes.
To apply for a Money In Minutes Loan, CLICK HERE
7. Page Financials — Best for Quick and Instant Disbursement
Page Financials is one of the best instant loan apps in Nigeria for quick and instant cash loans in 2022, being licensed by the Central Bank of Nigeria (CBN) with over 6 years’ experience in providing cutting edge digital solutions.
The organizations provides instant cash once your loan is approved, it also provides investment and other financial services through its various channels including internet and mobile app platforms. Its outstanding products and services are created to suit the financial requirements of its diverse clientele.
To apply for Page Financials Loan, CLICK HERE.
8. Alat by Wema — Best for Salary Earners
ALAT is another on our list of instant loan apps in Nigeria and it is best platform for salary earners looking for quick cash loans without paperwork or collateral. Loans are available to all Alat customers via Alat App or the website.
As with everything else on ALAT, you can now apply for a quick loan without collateral or paperwork, no visitation to any physical location, and response time between acceptance of offer and loan disbursement is in minutes. You can now borrow as much as N2,000,000 (Two million naira) without collateral.
To download the app on Google Play Store for android devices, CLICK HERE.
To download the app on Apple Store for iOS devices, CLICK HERE.
9. Lendigo — Best for Small Business Loans
Lendigo lending platform prides itself as Nigeria’s No 1 SME Finance Provider and the 9th on our list of top instant loan apps in Nigeria. It is our “best pick” for small business loans as the platform offers Nigerian SMEs easy, fast and flexible access to working capital according to their business requirements and suited to their finance needs.
If you are a small or medium scale business (SMEs) owners that provide retail and professional services as well as traders of general merchandise such as electronics, computing, phones, fashion & apparel, household goods among others, then you can apply for Lendigo loan in minutes and get it processed for you.
Up to ₦10m Loan
Apply in Minutes
Low Interest Rate
Flexible Terms
To Apply for Lendigo Loan, Click here.
10. Migo — Best for Quick Lending Decision
Migo (formerly kwikmoney) is a cloud-based lending platform and the 10th on our list of top instant loan apps in Nigeria and best for quick lending decisions. The app strives to ensure your online loan request enters your account (or the account of the merchant you are paying) right after you complete your application session.
Migo loan amounts range from N10,000 to over N500,000 but limited to N50,000 for a new customer. You do not need any collateral, guarantor or documentation to request a Migo loan.
All you need is an android phone, your banking details including BVN and a complete online application form.
You can also get a Migo loan by dialing *561# for MTN, 9mobile, and Glo or *554*561# for Airtel. From the list, select “Request Loan” to see a list of your customized loan offers.
To apply for a Migo loan, CLICK HERE
11. Access More — Best for Payday Loans
The Access More App is owned by Access Bank Plc and it’s a banking app that gives payday loans to its customers among other things. It’s the 11th on our list of leading loan apps in Nigeria in 2022. Only limitation is that the services are only available to account holders of the bank, therefore you need to open an account to benefit.
To download the app on Google Play Store for android devices, CLICK HERE.
12. Specta — Best for Non Salaried Individuals
Specta is an online lending platform that gives you loans of up to 5 Million in one transaction all within 5 minutes! No collateral, no paperwork and no visit to any office. It is our 12th reviewed loan apps in Nigeria and our “best pick” for non salaried individuals in 2022.
With Specta, you can take care of urgent personal and business needs anywhere, anytime. The Specta4individuals package is particularly tailored towards accessing a personal loan of up to N5 Million without collateral in 5 minutes.
To apply for a Specta Loan, Click here.
13. Lidya — Best for Highest Business Loan
Lidya is a USA holding financial institution though operating its arm in Nigeria while providing instant small business loans without collateral across the country. The company is spread across 3 continents and 5 countries which are USA, Portugal, Nigeria, Poland and Czech Republic.
Lidya grants instant credit between N50,000 to N30m to small businesses in 24 hours. Little wonder we choose this platform as our “best pick” for highest business loan amount in 2022.
How Lidya Loan Works
To assess credit risk, Lidya SME loan uses close to 100 data points to evaluate businesses, build a credit score unique to each business, and disburse loans in 24 hours or less.
The following are the processes to access Lidya small business loans
- Use your bank statements to get your loans
- Upload your transaction history. Upload your data quickly and safely in our platform. Your data will be analyzed in 24 hours.
- Understand your transaction data. Have a record of all your transactions that you can access online, anytime and anywhere.
- Be qualified for a loan. If your business needs more working capital to grow, this is the premier option for you.
- Get loans. Get access to funds immediately!
To Apply for a Lidya Business Loan CLICK HERE
14. SukFin — Best for Indirect Lenders
SukFin is our 14th pick in our comprehensive list of best instant loan apps in Nigeria for 2022, providing a free and easy way for SMEs in Nigeria, to research and find finance for their businesses. The organization employs the use of tech and expertise to match SMEs with a variety of lenders — giving access to a number of funding products across Nigeria. It’s easy to apply and as long as you provide them with requested information — funds can be in your account quickly and instantly.
How SukFin Small Business Loans Without Collateral Works
- 1. Tell how much money you need and what it’s for
- 2. SulFin will match your requirements with their lenders
- 3. They will get your loan approved and your small business financed
The company works with numerous lenders across the whole business funding market. They claim to have helped many of their customers find unsecured loans, invoice financing, equipment leases, startup loans and more.
To apply for SukFin Small Business Loan, CLICK HERE.
15. Renmoney — Best for Microfinance Bank Loan
Renmoney is the 15th on our list of top 20 best instant loan apps in Nigeria and it is our best pick for microfinance bank loan in 2022. The platform has its head office in Lagos.
You can get a quick loan on the Renmoney app in just a few steps. Renmoney quick online loans are for employed or self-employed people as well as business owners. So, if you need an instant personal or business loan, you can borrow from ₦6,000 to ₦6,000,000 and repay in 3 to 24 months.
You can download the Renmoney app on Google Play Store by clicking here
16. Quick Credit — Best for Good Customer Service
Quick Credit is one of the best lending platforms and instant loan apps in Nigeria giving customers fast and emergency loans. The platform which is best for good customer service strives to provide borrowers and mobile users with convenient lending and quick loan services.
With simple steps and minimal documentation, users can get qualified loan products which is 100% online process. Once approved, the loan amount will be immediately transferred to the applicant’ s bank account.
Product Features
1.Tenure: From 91 days to 365 days.
2.Loan Amount: From NGN.1,500 to NGN.50,000.
3.The maximum Annual Percentage Rate (APR) is 36%.
4.Origination fee: From 1% to 9%.
You can download the Quick Credit app on Google Play Store by clicking here
17. Coolbucks — Best for Unsecured Monthly Instalment Loans
Coolbucks makes the 17th position on our list of top 20 best instant loan apps In Nigeria for 2022. The online lending platform is best for unsecured monthly instalment loans without collateral within minutes of completing your application.
Depending on your profile, Coolbucks can disburse within 5 minutes to 24 hours of completing our application. The platform provides you up to N5,000,000 within minutes.
The platform also offers small ticket loans from N15,000 to low income customers and up to N5,000,000 to high income customers. Borrowers can access loans within 30 minutes maximum.
18. GTWorld Quick Credit — Best for Account Holders
With GTWorld, you have a mobile and banking loan app for instant cash that is designed to cater for your banking and money needs. However to enjoy its services, you first have to open an account with the bank. The platform is our 18th pick and it is best for bank account holders seeking instant loan apps in Nigeria in 2022.
Key Features:
• Login and complete your transactions using your face, fingerprint or a 4-digit PIN.
• Check your account balance; transfer money within your accounts and buy airtime; all without having to sign in.
• Turn your contacts into a beneficiary list; send money to someone using just their mobile number.
• Apply for loans and set savings target right from your phone.
• Send your Account Statements to your email or to an embassy of your choice.
You can download the GTWorld app on Google Play Store by clicking here
19. QuickCheck — Best for Customer Data Privacy
QuickCheck comes 19th position on our list of top 20 instant loan apps In Nigeria and it is our best pick for customer data privacy and protection in 2022. The app uses machine learning to predict borrower’s behaviour and instantly evaluate loan applications. In this era where many loan apps indulge in unethical banking practices relating to data breach, QuickCheck stands tall for best lending platform for customer data privacy. The app will never share your contacts and information with third parties.
Once you apply, your credit score will be instantly evaluated and let machine learning decide if you qualify. All applications MUST be completed on your android device .
You can begin your application by downloading the QuickCheck app from the Google Playstore. After downloading the app, sign in with your facebook email address and password and fill the provided fields correctly.
To apply for QuickCheck loan on Google Play Store, CLICK HERE.
20. MoneyPal (Zedvance) — Best for Rapid Disbursement
MoneyPal, a lending platform owned and managed by Zedvance Limited is our “best pick” for quick and rapid disbursement in 2022.
The consumer finance company offers loan packages that cater to all your financial needs regardless of what they may be. The company claims an eligible individual or small business can get up to N5million quick loan in 5 hours. Customers can enjoy loan tenors up to 24 months at Annual Percentage Rate (APR) of 34.8% – 365%.
To apply for MoneyPal loan, by downloading the app on Google Play Store, CLICK HERE.
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