Best Loan Apps In Nigeria 2022

With the many financial obligations that comes along with life, getting a loan is one of the ways to meet to that commitment is to collect a loan from either a bank or an organization.

In Nigeria, getting a loan without a collateral is rare. That is why I have written this post to talk about the best loan apps in Nigeria for small businesses, groups and individuals that does not require a collateral.


Launched in March 2018, FairMoney is one of the leading online lending platform in Nigeria.
Lending over one thousand loans daily, FairMoney has helped organizations and individuals get to their financial goals.

With FairMoney you get access to instant loan without collateral with little interest.
Customers can get access to amounts as high as 150, 000.
Paying back your loan on time would give you a chance to enjoy flexible interest rates.

How To Get A Loan On Fair Money

  • Download the FairMoney android app from Google Play Store.
  • Sign Up using your phone number or Facebook profile.
  • Create a profile.
  • Submit an application.
  • Then wait to receive money in your bank account within minutes.


    Branch is another amazing lending app. Its services is spread across different countries like Kenya, Tanzania, Mexico and Nigeria.
    Getting a loan from branch doesn’t requires any collateral.

    The interest rate varies as it depends on your bank history and length of repayment. Monthly interest rates typically ranges from 1 to 21%.
    The loans Branch give can be divided into sub-categories such as

    Medical Loan

    If a member of your family has a critical medical condition.

    Travel Loan

    If you need to travel for business, medical or an official purpose you can get a loan from branch.

    Business Loan

    If you have a business idea but lack the required capital to make it a reality. You can get a loan from branch, the limit for this loan is N150,000.

    Personal Loan

    If you are looking for an extra money for your upkeep. Then you can access a loan from branch.

    Emergency Loan

    Branch can also give you a loan if you are in dire need of money.

    How To Apply For a Loan From Branch

      • Download the Branch loan app  from Play Store.
      • Fill in the required information.
      • After you must have logged in to the Branch Loan app, click on the menu at the top left corner.
      • Click on ‘My Loans’.
      • Enter the amount of money you intend to borrow and also enter the duration of time you want the loan.
      • Click on the name of the bank which you own an account with.
      • Click on ‘request this loan’.
      • Click on apply and wait for your Branch Loan to get into your account within minutes.


PalmCredit is one of the best loan app in Nigeria.
With the PalmCredit app, loan can be accessed in minutes without collateral.
PalmCredit is powered by Transsnet, it’s subsidiaries are Palmpay and Palmsave.

With the PalmCredit app, you can get a loan ranging from N15,000 to N100,000.
Paying your debt on time will increase your credit limit. Hence, you would be able to borrow a higher amount when next you apply for a loan.
You can also request for an airtime loan on PalmCredit when you run out of airtime.

How To Apply For PalmCredit Loan

    • Download the PalmCredit loan app from Google Play Store on your mobile device.
    • Provide your phone number, make sure it is active and functioning because a code will be sent to the number for verification.
    • Fill out a form where you will be asked to provide your name, surname, date of birth, gender and BVN.
    • Provide your bank account details.
    • Provide your education and employment information .

You would receive a congratulatory message from PalmCredit and your requested loan amount will be sent to your bank account.


Quickcheck is another fascinating loan app in Nigeria. It was built to help Nigerians with our banking needs.
With Quickcheck, you can get up to N30,000 at an interest rate as low as 1% per day and approval can be done in less than 24 hours.

Quickcheck app doesn’t allows its first-time users to borrow more than N10,000, paying your loan on time will increase your chances of collecting a higher amount.

How To Apply For Quickcheck Loan

    • Download the Quickcheck app from Google Play Store.
    • Next, you can sign up using your Facebook information.
    • Fill out some information after signing up.
    • You would be asked for your purpose of borrowing the money.
    • After filling out the necessary information click on ‘Submit’ and you would get your loan within minutes.


Alat loan is another online lending platform. With Alat, you can get a loan as high as N200,000 without collateral.

Alat is a multipurpose app, you can pay bills, buy airtime and do a lot more with it.
Alat is sponsored by Wema Bank.
Alat recently won an award at ‘Prestigious World Finance Digital Banking Awards’ as the “Best Mobile banking app and “Best Digital Bank for 2017″.

How To Apply For A Loan From Alat

    • Download and install the Alat app from Google Play Store using your mobile phone.
    • Sign Up for a new account.
    • Click on ‘Loan’ at the menu.
    • If you have the requirements for the proposed loan Alat will send you the requested amount into your Alat account.


Quickteller is one of the biggest transaction processor in Nigeria. Quickteller recently introduced a platform where Nigerians can get a loan without the stress of paperwork or collateral.

If you want a huge loan then Quickteller might not be for you, Quickteller loan typically ranges from N1,000 to N10,000 and must be paid back within 14 days with an interest rate of 15%.

How To Apply For Quickteller Loan

  • Sign Up toQuickteller
  • After signing up, click on ‘Request Loan’ on the left side of the screen.
  • Enter your desired loan amount.
  • Next, put in your account details and click on ‘Continue’.
  • Enter your card information.
  • Finally, click on ‘Accept Offer’.

Alternatively, you can request a loan from Quickteller by dialing *322*6# on the phone number that you used during your Quickteller registration.

Aella Credit

Aella Credit is a company that offers a short-term loan.
Aella Credit offers loan to people who are not registered into their company. However unregistered clients (out-network) will not be able to get more than N90,000 unlike the registered (in-network) who will be able to borrow up to N720,000.

Aella Credit do not charge a late payment fee and have a fair interest rate for registered customers.

How To Apply For Aella Credit Loan

  • Download the Aella Credit app from Google Play Store.
  • Enter your name, email and phone number.
  • Next, enter your bank details and employee ID.
  • Provide information about your next of kin.

Aella Credit will approve your application within minutes. Take note that a you have to pay a processing fee of N30.


Paylater is another online lending platform that gives Nigerians the opportunity to to get a loan within minutes.

Paylater is sponsored by ‘One Finance & Investments Limited’.

You don’t need a guarantor and you also don’t need to pay an application fee.
There is a limit of N10,000 for first time user of app. When you payback your loan on time you stand a chance of getting a higher amount of loan the next time you apply.

How To Apply For Paylater Loan

  • Firstly, download the Paylater app on Google Play Store.
  • Fill in the required information.
  • Choose the amount you want to borrow.
  • Add the paylater card setup.
  • Submit your to get a loan within minutes.


Powered by 9mobile in partnership with Microfinance bank, Kwikcash is one of the best online lending platform.
With Kwikcash you can get up to N100,000 loan without collateral or any form of documentation.

The loan was opened only to 9mobile subscribers but today, other network can also also benefit from the Kwikcash loan.

How To Apply For Kwikcash Loan

  • Dial *561#
  • Follow the USSD menu ‘Request Loan’
  • Select your preferred loan offer.
  • Select bank and provide your 10-digit NUBAN.
  • Accept its Terms and Conditions and confirm repayment amount.


Sokoloan is one of the best loan app in Nigeria.
The loan term ranges from 7 to 190 days with an equivalent monthly interest rate of 3% to 29% and APR of 29% to 365%.

You can get a loan from N5,000 to N100,000. You cannot be offered a large amount of money at your request, you can only get a decent amount of money when you repay your outstanding loan on time.

How To Apply For SokoLoan Loan

    • Download the Sokoloan mobile app from Google Play Store.
    • Sign Up and fill out all the required information
    • Click on apply for loan
    • Choose the amount, repayment date and other necessary information
    • Submit your application.


OKash is another reliable loan apps in Nigeria. It is a subsidiary of OPay, a software company (the developers of opera Mini).

The OPay app has made it easy for people to make transactions easily, you can buy airtime, make subscriptions with your various TV cables, it also made transportation easier as it has created an avenue whereby you can book a vehicle from the comfort of your home using your Mobile phone.

OKach was formerly merged with the OPay app but it was later removed from the app hence it is now a single app. OKach gives a loan from N10,000 to N50,000 for a start.

N50,000 is the maximum amount of loan you can apply for the first time, paying your loan within 91 to 365 days will give you a chance to collect a higher amount on your next application (depending on the amount of loan you collected).

How To Apply For A Loan From OKash

Download the Okash loan app from Google Play Store.

  • Create an Okash account with your Mobile number.

Create a PIN to protect your privacy.

  • Apply for a loan by filling out the form, make sure you insert your correct details in the appropriate field.


    QuickCheck is another loan app in Nigeria, it is owned by QuickCheck, an information service in Nigeria. With Quickcheck, you can up to N30, 000 loan at an interest of 1% per day, which is better than some of the loan apps out there.

    The QuickCheck loan app is an old lending platform hence it has stand the test of time. Thousands of Nigerians has received a loan from this platform at ease, the best part is that you don’t need any collateral while applying for the loan.

    How To Apply For QuickCheck Loan

      • Download the QuickCheck app from playstore
      • Create an account; you can create an account using your email or facebook account.
      • Apply for a loan by choosing the amount you want to borrow and by also filling out your details.

    You have to go through an approval process before you will be given a loan from Quickcheck, you’d get an alert once you are eligible, the approval process takes about 24 hours.

    Conclusion On The Best Online Lending Platforms In Nigeria

    Getting a loan in Nigeria is not as difficult as it seems, there are many loan apps in Nigeria which means you’ve got the chance to choose from a lot of varieties.
    With the above list of the best loan apps in Nigeria, I believe getting a loan won’t be difficult for you.

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