How to get a good loan app in Nigeria with low interest rate: Securing a loan for personal or business purposes has evolved into a more seamless process; with a smartphone and internet connection, anybody with a bank account can request for a loan at any time and receive it instantly, in most cases.
The process of accessing quick loans in Nigerian banks is quite lengthy for any individual that is only looking to access a small amount of loan for only a short period of time
The Top 8 Mobile Loan Apps in Nigeria Includes;
Most of the available loan platforms claims to offer quick loans to any individual without collateral, but it’s necessary to always read their terms and conditions before applying.
Another important thing to consider is the interest rate and payback period. As a business owner, 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.
Here is a list of top 8 mobile apps for online business and personal loans in Nigeria.
FairMoney Loan App
FairMoney offers short-term loans to help cover for urgent needs, bills, business and much more. They give access to loans at anytime and anywhere with our loan application within 5 minutes.
FairMoney packages include personal loan, education loan, business loan & more. With the effective use of technology, they are able to provide a speedy and efficient loan app to all our esteemed customers. Click here to download FairMoney Appl
Palmcredit Loan App
PalmCredit is a virtual credit card that makes it easy for you to access a loan anytime and anywhere. Palmcredit offers loans of up to ₦100,000 within minutes on your mobile phone.
Getting a mobile loan is easy with Palmcredit. Apply for your credit limit in minutes, then take as many instant loans as you need without further approval steps. It’s a credit revolution!
As soon as you repay, your credit score is updated. Repay on time and watch your limit grow to N100, 000.
Download the Palmcredit App to get instant and flexible loans at affordable rates
Carbon Loan App
Originally launched as PayLater, Carbon gives instant credit access to anyone in need of an urgent loan within minutes.
Carbon requires its users to input their Bank Verification Number (BVN) for verification, and once that’s done they can request for a loan.
Carbon loans range from ₦1,500 ($3.6) to ₦1m ($2430.13) in Nigeria and Ksh 500 ($4.55) to Ksh 30,000 ($273.10) in Kenya; it allows repayments over a maximum of 64 weeks with interest ranging from 1.75% – 30%, with an equivalent monthly interest rate of 1 – 21%.
Branch Loan App
Branch is a simple yet powerful mobile loan app in Nigeria. Getting quick and instant loans on Branch App is so fast and simple. It will help you sort out your financial issues in real time.
Branch offers loans from ₦1,500 to ₦150,000. Loan terms range from 4 – 64 weeks. Interest ranges from 14% – 28% with an equivalent monthly interest of 1% – 21%, depending on selected loan option.
Download Branch App for access to quick and instant loans.
Paylater Loan App
Paylater is an easy-to-use online lending platform that provides short-term loans to individuals and small business owners in Nigeria to help cover unexpected expenses or urgent cash needs.
With Paylater, you can access up to 500,000 Naira loan with no collateral. Once your application is approved, funds are typically received within 1 – 3 working days. Making on-time repayments can grant you access to higher credit limits for your next loan.
Download the Paylater App to get quick and flexible loans at affordable rates.
QuickCheck Loan App
QuickCheck is a modern lending platform for individuals and small business owners. QuickCheck uses mobile technology to enable individuals and small businesses to gain access to financial credit.
With Quickcheck, users can access quick and hassle-free loans of up to 30,000 Naira without any collateral for a duration of either 15 or 30 days.
You can get the QuickCheck App on Google Playstore.
Aella Credit Loan App
Aella Credit is building platforms that make it easier for individuals in Africa to gain access to financing. Mainly focused on employee lending and empowerment, the company was affiliated with three main credit bureau agencies in Nigeria to provide quick and affordable loans with no paperwork to its customers.
Aella Credit uses a proprietary credit scoring algorithm to determine the creditworthiness of its users. The algorithm, which was built after the team gathered over five years of market data and analysis, processes an applicant’s eligibility for a loan by considering social and demographic factors as well as their debt to income ratio.
Download Aella Credit App now to get started.
KiaKia Loan App
KiaKia is a mobile web app that gives you access to personal and small business loans and also enables savers to lend out funds at negotiated interests through intuitive conversations.
KiaKia utilizes psychometry, big-data, machine learning and digital forensics for its proprietary credit scoring and credit risk assessment algorithm to provide direct and peered personal and business loans to millions of individuals and SMEs without credit information.
Click here to visit Kiakia mobile web app.