Full List of Loan Apps Approved by CBN 2025

Here we have compiled the list of loan apps approved by CBN in Nigeria in 2025 to help you find the most reliable, quick, and secure loan apps. 

There are about 322 CBN-fully approved loan apps in Nigeria and 42 additional conditionally approved loan apps. In total, 364 loan apps have been approved by the CBN and FCCPC.

In this article, we will reveal the full list of loan apps approved by CBN. You are about to know the available loan app in Nigeria. With this full list you will be able to avoid illegal loan apps.

Financial freedom begins with smart choices. Only borrow from loan apps that has been approved by CBN, invest in your future, and let every loan be a step toward your success.

What Are Loan Apps Approved by CBN?

Loan apps approved by CBN are digital lenders that have been recognized and licensed by the Central Bank of Nigeria. These license gives them legitimacy and oversight to ensure that they meet CBN digital lenders standards. Approved loan apps are safer, more transparent, and far less likely to harm borrowers with hidden fees or abusive practices.

Benefits of Using Loan Apps Approved by CBN

• Safety & Trust: One of the benefits of using CBN-approved apps is because these apps have been legally recognized, and they are operating within Nigeria’s financial framework. Make it the safer and trusted option.

• Fair Terms – CBN-approved app Interest rates and repayment policies are fair and regulated, protecting you from sudden hidden fees.

• Customer Protection: Another benefit is you can seek redress through official channels.

• Data Security: Your personal data are protected since this loan app follows the legal digital lender’s standard by keeping your personal info safer.

Now, let’s first explore the list of loan apps that is fully approved by CBN in Nigeria in 2025.

Full List of Loan Apps Approved by CBN 2025

The above list are the loan apps that have been approved by the Central Bank of Nigeria (CBN) and the Federal Competition and Consumer Protection Commission (FCCPC). When choosing a loan app in Nigeria, you are to consider only the above-approved apps.

And also verify each app before borrowing; make sure the loan app is licensed by the Central Bank of Nigeria (CBN) or listed above or under the FCCPC-approved platforms.

Apart from this list, you are advice to read user reviews on the Google Play Store and check the app’s data privacy policy before you download or borrow money.

Another key factor to consider is repayment terms—some apps offer grace periods or lower penalties for late payments, while others impose strict deadlines.

By understanding these details, you can avoid financial pitfalls and select only the best app among the list of approved loan apps that will fit your needs.

Now, let’s explore the top 10 best loan apps approved by CBN in Nigeria in 2025 based on the above factors.

Top 10 Best Loan App in the list of Loan Apps Approved by CBN in Nigeria 2025

1. Carbon Loan App

• Loan range: ₦1,500 – ₦1,000,000
• Interest rate: 1.75% – 30% per month
• Repayment period: 1 – 12 months
• No collateral required

Carbon loan app is one of the best loan apps approved by CBN, with a 4.0/5 rating in the Google Play store, making it one of the most trusted and best loan apps in Nigeria. The app also provides financial services like bill payments and investments. With a low interest rate and without collateral, it can be a good option for salary earners and business owners looking for quick funds.

You can Download the cabon loan app here. 

2. FairMoney

• Loan range: ₦1,500 – ₦3,000,000
• Interest rate: 2.5% – 30% per month
• Repayment period: 14 days – 18 months

FairMoney is the most widely used loan app with a 4.4/5 rating in the Google Play store. It is known for its super-fast loan approval process. It’s perfect for those who need urgent financial assistance with longer repayment plans.

What users Say:

“I had the best experience with FairMoney compared to other loan apps. As soon as I installed the app and applied for a loan, it was approved, and I got the money in just a few minutes, just as advertised.

This was truly a lifesaver, something which seems impossible with all the other loan apps I tried before FairMoney, even when they promised the same service as FairMoney in their advertisements. All the other apps refused to approve my loan, even when I have a good credit score.”- Lemboye Cole

You can download the Fairmoney loan app here

3. Branch Loan App

• Loan range: ₦1,000 – ₦500,000
• Interest rate: 15% – 34% per month
• Repayment period: 4 – 52 weeks

Branch is one of the best loan apps approved by CBN in nigeria that offers loans without the need for collateral or paperwork. The more you borrow and repay on time, the higher your credit limit. With a 4.5/5 rating in the google play store, you can access quick loan with no hassles, Branch is a best option

What User say: 

“Apart from a minor glitch I experienced once in transferring money from my Branch wallet to another account, which later turned out to be a general data problem, the loan app is great. The ease of accessing and repaying loans is great, and above all, the interest rates are the best amongst the many loan apps that I have used. I hope you will maintain the standard, if not better.” – Carl Jide

4. PalmCredit

• Loan range: ₦2,000 – ₦300,000
• Interest rate: 14% – 24% per month
• Repayment period: 91 – 365 days

PalmCredit loan app is among the best CBN approved platforms that offer quick access to loans with no collateral. Users can increase their loan limits by maintaining a good repayment history.

What Users Say: 

“Very good app for lending to sort your financial issues at the appropriate time. Palm Credit offers high amount of money and a longer duration period. They are also fast in disbursement, which is unique about them, unlike some other apps that spend days for disbursement. Palm Credit is not like that. So fast, longer duration period, and high amount of money. Big thanks to the organization.” – Otosint Otosint

See also: Eager Loan App (Download, Requirements, Interest rate, 2025 Review)

5. QuickCheck

• Loan range: ₦1,500 – ₦500,000
• Interest rate: 2% – 30% per month
• Repayment period: 30 days – 12 months

This loan app uses AI technology to assess creditworthiness. Quickcheck has gain a 4.5/5 rating in the Google Play Store, making it one of the most reliable and best loan apps in Nigeria.

What Users Say: 

6. Aella Credit

• Loan range: ₦2,000 – ₦1,000,000
• Interest rate: 4% – 29% per month
• Repayment period: 30 – 60 days

Aella Credit, although not popular, it is one of the best CBN approved loan apps that provides personal and business loans with competitive interest rates.

7. Okash by Opay

• Loan range: ₦3,000 – ₦500,000
• Interest rate: 10% – 30% per month
• Repayment period: 15 – 91 days

Okash loan app is one of the best apps with short-term loans and good repayment plans. It’s the best option for those who already use Opay’s services and need emergency funds.

8. Umba Loan App

• Loan range: ₦2,000 – ₦500,000
• Interest rate: 10% – 25% per month
• Repayment period: 62 – 180 days

Umba is one of the best loan apps in Nigeria that offers loans without requiring your BVN, making it one of the best choices for people who prefer privacy.

9. Renmoney

Renmoney is one of Nigeria’s leading digital lending platforms, offering personal and business loans. With loan amounts ranging from ₦50,000 to ₦6,000,000, it caters to individuals seeking significant financial support for major expenses like business expansion, medical bills, or home renovations.

• Loan Amount: ₦50,000 – ₦6,000,000

• Interest Rate: 4% – 8% per month

• Repayment Period: 3 – 24 months

One of Renmoney’s biggest advantages is its longer repayment period of up to 24 months, which allows borrowers to manage their finances without excessive pressure. Additionally, it provides unsecured loans, meaning you don’t need collateral. However, borrowers must have a steady source of income and a good credit history to qualify for larger amounts.

10. Sokoloan

For those looking for smaller, short-term loans, Sokoloan is a go-to option. It offers instant loans starting from ₦5,000 to ₦100,000, making it ideal for emergency expenses, utility bills, and daily financial needs.

• Loan Amount: ₦5,000 – ₦100,000

• Interest Rate: 4.5% – 34% per month

• Repayment Period: 7 – 180 days

Sokoloan provides fast disbursement, often within minutes of approval. However, borrowers should be mindful of its higher interest rates, which can go up to 34% per month for shorter repayment periods. While it’s convenient for urgent needs, users should ensure they can repay on time to avoid accumulating high charges.

Loan Apps Without BVN in Nigeria 2025

Some Nigerians prefer loan apps that don’t require BVN due to privacy concerns. Here are some options:

• Umba Loan App
• PalmCredit
• Branch Loan App

Read more: 5 Best Loan Apps Without BVN—With NIN and Phone Number (2025 Review)

Loan Apps with the Lowest Interest Rates

If you want affordable loans, these apps offer the lowest interest rates:

• Renmoney (4% – 8% per month)
• Carbon Loan App (1.75% – 30% per month)
• Aella Credit (4% – 29% per month)

Fake Loan Apps to Avoid in 2025

Beware of fraudulent loan apps that steal user data and harass borrowers. Some apps to avoid include:

• KashKash
• GoCash
• Speedy Choice

Always verify loan apps before applying to avoid scams.

FAQs on Loan Apps in Nigeria

1. What is the best CBN approved loan app in Nigeria in 2025?

The best loan app depends on your needs. Carbon, FairMoney, and Branch are among the top options due to their low-interest rates and fast approval times.

2. Which loan app has the lowest interest rate?

Renmoney, Carbon, and Aella Credit offer some of the lowest interest rates in Nigeria.

3. Can I get a loan without BVN?

Yes, some loan apps like Umba and PalmCredit do not require BVN for loan approval.

4. What happens if I don’t repay my loan on time?

Failure to repay a loan on time can result in higher interest rates, late fees, and a negative credit score. Some loan apps may also report defaulters to credit bureaus.

5. How do I know if a loan app is legit?

Check if the app is licensed by the Central Bank of Nigeria (CBN), read reviews, and verify its presence on Google Play Store or Apple App Store.

See Also: Specta Loan App: Requirements, How To Apply, Review, Is It Legit or Scam?

Conclusion

This list of loan apps approved by CBN in Nigeria in 2025 provides several options for instant loans. Are you in need of a small loan for personal use or a business loan? These loan apps can provide the financial support you need. Always borrow responsibly and choose the best loan app that best suits your financial situation.