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Best Loan Apps in Nigeria 2022



Best loan apps in Nigeria

Best Loan Apps in Nigeria

Whenever and how you landed on this page proves that you’re in search of the best place to grant you access to loans easily.

Yeah! Everyone gets time only a loan application would help them salvage a situation.

In this article, we list out the best loan apps in Nigeria that can come to your aid when you need an emergency fund or are struggling to make ends meet temporarily.

What are loan apps?

Loan apps or personal loan apps are mobile tools created to help you easily apply for a loan without the need to set your foot in any bank.


These apps will allow you not to go broke again. No long queues. No bulky documents. All you need is your smartphone.

Best loan apps in Nigeria

  1. Carbon/Paylater
  2. Branch
  3. Palmcredit
  4. Fairmoney
  5. Credit Ville

1. Carbon (PayLater)

the carbon loan app2668061136908664232

Carbon, formally known as PayLater is unarguably the best app on this list in terms of service delivery.

Its usage is simple and application processes are entirely online. The Carbon lending app provides users with short-term loans to cover unexpected or urgent expenses.

One only requires an Android or iOS device to apply for a loan on the Paylater app. The application process is quick and one will know their status within a few minutes.


Carbon app currently offers two loan packages:

The Carbon/Paylater app offers to all individuals and a Pay later plus packages for salary earners.

Outside the provision of loans, the Carbon loan app also allows users to pay for utility bills like recharge cards, electricity, cable bills, and other services.

As stated earlier, no form of documentation or collateral is needed to apply for a loan on the Carbon app to get approved.


You only need your mobile device and a means of verification to be considered for a loan.

Download the Carbon app to get quick access to loans with low-interest rates here.

2. Branch Loan App

Brank loan app Nigeria

The Branch loan app is a simple and yet, powerful mobile loan app with operations in Nigeria and Kenya.

The app affords users access to quick and instant loans easily. The Branch loan app is a quick fix aimed at helping you sort out your financial issues in real-time.


Branch offers its users’ loan amounts ranging from ₦1,500 to ₦150,000.

Loan terms vary from between 4 – 64 weeks, with interest rates from 14% – 28% and an equivalent monthly interest rate of 1% – 21% that is determined by available selected loan options.

Download Branch App for access to quick and instant loans here

3.FairMoney Loan App

FairMoney loan app Nigeria

The FairMoney lending app offers customers short-term loans to help take care of urgent expenses, bills, business, and more.


The app gives you access to loans anytime and anywhere within 5 minutes of your loan application.

FairMoney loan offer packages for personal, education, business, property, and other loan options.

Its effective use of technology provides a speedy and efficient loan application process to intending customers.

4. Palmcredit Loan App

Palmcredit loan app Nigeria

PalmCredit loan app is a virtually designed credit card that makes your access to loans easy and efficient.


The app offers a loan amounts of up to ₦100,000 in a space of minutes just from a mobile phone.

With the PalmCredit mobile app, getting a loan is simple and straightforward.

Applying for a loan only takes minutes. One can take as many easy instant loans as possible without further subsequent approval steps. This is a credit revolution!

Once you repay a loan, your credit score is automatically updated. Repay your loan on time and watch your limit grow to N100,000. Easy-Peasy


Download the Palmcredit App to get instant and flexible loans at affordable rates.

5. Credit Ville

Credit Ville is a unique online loan company that provides employers of labor a Payroll based consumer loans.

Employees of an eligible firm are given access to loans through their employer and the amount borrowed will be removed from their remuneration by the employer.

Credit Ville can also provide quick access to an urgent or emergency loan in your bank account once you meet the necessary conditions and documentation.


Salary advance, business loan, car lease/purchase are some of the loan types Credit Ville offers.

One must be between 25 – 60 years of age and most possess a current bank account to be eligible.

One can get a loan of N100,000 and more and up to 18 months without collateral with Credit Ville.

Apply for Credit Ville loan.



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.

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