How to Get a Loan with Bad Credit Score in Nigeria

Access to loans can be challenging for those with a poor credit history or bad credit in Nigeria. Many digital lenders depend heavily on credit bureau reports before approving loans, and those with bad scores get rejected.

If you are struggling to get a loan because of a bad credit score, you need to read this article to the end and pay attention to every detail.

There are some loan apps that can still give you loans with your bad credit score, even with low interest rates, so you don’t drown in debt.

In this guide, we will look at what a credit score is and why it matters. We will also list out loan apps with bad credit scores in Nigeria.

What is a credit score?

Credit score simply means a number that shows how creditworthy or trustworthy you are when it comes to borrowing and repaying money.

In Nigeria, credit scores are tied to credit bureaus, and you can track them using CRC Credit Bureau, FirstCentral, and CreditRegistry. If your score is high, lenders will see you as trustworthy, and you can qualify for loans with lower interest rates.

But if your credit score is low or bad, lenders will see you as a risk. Your loan amounts will be small, with high interest, and in some cases your application can even be rejected. This is why many people with poor credit struggle to access loans, and when they do get approved, the cost of borrowing is usually much more expensive.

See Also: Best Loan Apps Without Face Verification in Nigeria 2025

What is a loan with bad credit?

A loan with bad credit is simply a loan you can get even when your credit score is low. Normally, banks and many lenders in Nigeria check your credit report before giving you money. If your score is bad, they may reject your application or give you very small amounts at high interest rates.

But there are some loan apps that don’t rely only on credit bureau checks. Instead, they look at things like how active you are on their app, your phone usage, or your transaction record. This makes it possible to still borrow money even when your credit score is poor.

These loan apps can give loans with bad credit in Nigeria

Here are some trusted loan apps and platforms you can try, even if your credit score isn’t great:

1. Opay

Opay is one of the popular fintech apps in Nigeria, used for sending money, buying airtime, and paying bills, but apart from that, it has a loan feature. With the Opay loan feature, you can borrow money with your bad credit because Opay doesn’t depend on your credit score. Instead, it checks your activity on the app—like transfers, airtime purchases, and bill payments.

Opay is partnering with EaseMoni and Okash for its loan services; these two digital lenders can use your Opay app activity and phone details to decide your loan amount.

Key Details:

• Loan Amount: ₦3,000 – ₦100,000

• Interest Rate: 5% – 30%

• Repayment Period: 7 – 90 days

• Eligibility: Active Opay users with regular transactions

How to Apply:

1. 1. Download and register on the Opay app

   2. Complete KYC (BVN, ID, phone verification)

   3. Use the app actively for transfers, airtime, and bill payments

   4. Apply through the Loan section (EaseMoni/Okash)

See Also: How to Borrow Money from OPay 2025

2. PalmPay

PalmPay also offers loans based on how active you are on the app. If you regularly save, transfer, or buy airtime, your chances of approval increase.

Even with bad credit, consistent PalmPay usage makes it easier to qualify, and as you repay on time, your loan limit grows.

• Loan Amount: ₦2,000 – ₦200,000

• Interest Rate: 10% – 25%

• Repayment Period: 14 – 180 days

• Eligibility: Frequent app usage (airtime, savings, transfers)

How to Apply:

1. 1. Download PalmPay and register

   2. Complete KYC (BVN and ID required)

   3. Use PalmPay actively

   4. Apply for credit in the Loan section

3. Kuda

Kuda, known as the “bank of the free,” gives loans through its Kuda Overdraft feature. Instead of checking your credit bureau report, Kuda looks at your account activity—like deposits, spending, and savings.

This makes it a practical option for rebuilding your borrowing history.

• Loan Amount: ₦1,500 – ₦200,000

• Interest Rate: About 0.3% daily

• Repayment Period: Flexible—automatically deducted when funds enter your account

• Eligibility: Active Kuda account with regular deposits and spending

How to Apply:

1. 1. Open a Kuda account

   2. Use it regularly for deposits and payments

   3. Check the Overdraft section to see your loan limit

4. Moniepoint

Formerly TeamApt, Moniepoint is expanding into loans, mainly for users of its POS or business accounts. Like other fintechs, it doesn’t focus only on credit scores but checks your transaction history and volume.

The more active you are, the higher your chances of getting approved.

• Loan Amount: ₦10,000 – ₦500,000+ (depending on usage)

• Interest Rate: 5% – 20%

• Repayment Period: 14 – 180 days

• Eligibility: Active Moniepoint POS or account users

How to Apply:

1. 1. Open a Moniepoint account

   2. Actively use the account or POS

   3. Apply for credit via the app or dashboard

Read more: How to Get a Loan from Moniepoint in 2025 (Moniepoint Loan Guides)

5. Specta by Sterling Bank

Specta is Sterling Bank’s digital lending platform. If your employer is a partner, you can access loans of up to several million naira without collateral. Repayment comes directly from your salary, making it fast and stress-free.

• Loan Amount: ₦50,000 – ₦5,000,000

• Interest Rate: 20% – 30% annually

• Repayment Period: 1 – 12 months

• Eligibility: Salaried employees with a partner employer

How to Apply:

1. 1. Confirm if your employer is partnered with Specta

   2. Register on the Specta platform

   3. Apply and get funds directly in your bank account

See Also: 6 Best Loan Apps Without BVN in Nigeria 2025

6. Page Financials

Page Financials provides quick personal loans for salaried workers. Approval is linked to your income, and repayment is deducted directly from your salary. This makes approval easier, though loan amounts are usually tied to your monthly earnings.

• Loan Amount: ₦50,000 – ₦5,000,000

• Interest Rate: 5% – 20% monthly

• Repayment Period: 3 – 12 months

• Eligibility: Verified salaried employees

How to Apply:

1. 1. Visit Page Financials’ website or download the app

   2. Register and provide salary details

   3. Apply and get approval tied to your salary

7. Renmoney

Renmoney offers personal and salary-based loans of up to ₦6 million. Like Page, it’s mostly for salaried workers whose employers are in their network. The benefit is lower interest rates and flexible repayment, but self-employed people may face stricter requirements.

• Loan Amount: ₦50,000 – ₦6,000,000

• Interest Rate: 2.5% – 4% monthly

• Repayment Period: 3 – 24 months

• Eligibility: Salaried employees with verifiable income

How to Apply:

1. 1. Register on Renmoney’s app or website

   2. Complete KYC and provide salary slips

   3. Apply and receive funds if approved

See Also: Best Loan Apps for an Urgent ₦10,000 Loan in Nigeria

8. Migo

Migo gives loans without relying heavily on credit scores. Instead, it checks your phone activity and transaction history. You can borrow between ₦500 and ₦500,000 through their website or by dialing *561#.

Interest rates range from 2% to 15%, and your loan limit increases as you repay on time.

• Loan Amount: ₦500 – ₦500,000

• Interest Rate: 5% – 25%

• Repayment Period: 14 – 90 days

• Eligibility: Active phone users with consistent transactions

How to Apply:

1. 1. Dial *561# or visit Migo’s website

   2. Enter your phone number and details

   3. Choose a loan offer and get instant disbursement

See Also: 6 Best Loan App with NIN in Nigeria 2025

How to Get a Loan With Bad Credit

You can access loans with a bad credit score from apps like Opay, PalmPay, Kuda, Moniepoint, Specta, Page Financials, Renmoney, and Migo. These apps do not rely only on credit bureau reports. Instead, they use your app activity, transaction history, or salary records to assess eligibility.

Step-by-Step Guide to Get a Loan With Bad Credit

1. Download the loan app (e.g., Opay or PalmPay) from the Google Play Store or Apple App Store.
2. Register and complete your KYC using your BVN, NIN, and bank details.
3. Use the app actively—make transfers, buy airtime, or pay bills to build activity history.
4. Go to the loan section in the app and apply for a small loan.
5. Get approved instantly based on your app usage and phone data, not your credit bureau score.
6. Repay on time to qualify for bigger loan amounts in the future.

By following these steps and staying consistent, you can access loans even with a poor credit score.

See Also: LendSafe Loan App –Review, Interest Rates, and CBN Status

How Much Can You Borrow With a Bad Credit Score?

The loan amount varies based on individual app usage and transaction history, but it is usually small at first, from ₦5,000 to ₦50,000. But if you repay on time, your trustworthiness will increase, and your loan limit will increase too.

For example, platforms like Opay, PalmPay, and Kuda may increase your limit gradually, while apps like Migo or Renmoney can go up to ₦500,000 or more for consistent, reliable users.

Read more: How Much Can You Borrow From OPay for the First Time?

How to Improve Your Chances of Loan Approval

Even with a bad credit score, you can increase your chances of getting approved for a loan by following these simple steps:

1. Start Small – Apply for small loan amounts first and repay on time to build trust.

2. Repay Promptly – Always repay before or on the due date to avoid penalties and improve your standing.

3. Stay Active on Apps – Use fintech apps regularly for transfers, airtime, or bill payments so lenders can see your activity.

4. Provide Accurate KYC – Make sure your BVN, NIN, phone number, and bank details are correct and up to date.

5. Avoid Multiple Loans – Too many active loans at once can make lenders see you as high risk.

6. Maintain Cash Flow – Keep your bank account active with regular inflows and outflows.

By following these steps consistently, you’ll improve your chances of approval and gradually qualify for larger loan amounts.

See Also: 9Credit Loan App Reviews: Is It Approved by CBN?

Risks of Borrowing With Bad Credit

While it’s possible to get loans with a poor credit score, there are some risks you should watch out for:

1. High Interest Rates – Some loan apps charge very high rates, making repayment more difficult.

2. Unlicensed Lenders – Illegal apps may harass borrowers, misuse personal data, or deduct hidden charges.

3. Debt Trap – Taking one loan to repay another can quickly lead to unmanageable debt.

4. Credit Damage – Late or missed repayments can make your credit score even worse.

Summary / Conclusion

Do you have bad credit, and are most loan apps rejecting you? Don’t give up yet. You may not have tried the ones we mentioned in this article. Apps like Opay (EaseMoni and Okash) can still give you loans even with a poor credit score. Simply download the app and register, and you may qualify for a loan without the usual credit bureau checks.

See Also: Top 10 Loan App That Gives ₦50,000 Instantly in Nigeria 2025

Getting a loan in Nigeria with bad credit is challenging, but it’s not impossible. While traditional lenders may turn you down, fintech apps such as PalmPay, Kuda, Moniepoint, Specta, Page Financials, Renmoney, and Migo provide alternatives. Instead of relying only on credit reports, these platforms look at factors like your transaction history, phone usage, and salary records.

See Also: Full List of Loan Apps Approved by CBN 2025

To boost your chances of approval, start with small loan amounts, repay on time, and stay active on the apps. But be cautious of high interest rates, avoid unlicensed lenders, and always borrow responsibly.

With the above loan app, you can still access funds for emergencies and gradually rebuild your credit profile.