What are the top 20 loan app in Nigeria?
That’s exactly what we are going to discourse in this post.
Money problems don’t wait. An unexpected bill, school fee, hospital expense, or business opportunity can come at any time.
If you find yourself in that situation, loan apps can give you relief in the form of a loan to sort out the issues.
Loan apps are digital platforms that give you quick loans when you need them most.
You don’t need collateral, only your phone and a few details.
But here’s the truth.
While there are many loan apps out there, not all of them are safe or fair.
Some charge high interest rates, while others give you very short repayment terms that can put you under pressure.
That’s why it’s important to know which ones are trustworthy and transparent
That is why I have put together an updated list of the top 20 loan app in Nigeria in 2025.
In this list, you’ll see each app’s loan features, interest rate, and pros and cons.
This way, you can choose the one that is best for you.
Why Loan App Are Popular in Nigeria
- They give instant approval when banks delay.
- No collateral is required.
- Available 24/7, even at night or weekends.
- They support everyone — students, salary earners, and business owners.
Factors to Consider Before Choosing a Loan App
- Interest rate – always check if it’s fair.
- Repayment terms – short deadlines can be risky.
- Loan amount – does the app give you enough for your need?
- CBN approval – safer apps are regulated.
- Customer reviews – learn from real users before you borrow.
Top 20 Loan App in Nigeria (2025 List)
1. Branch
Branch is one of the most trusted loan apps in Nigeria, with millions of downloads.
It is known for its smooth process and no hidden fees.
- Loan Range & Features: ₦3,000 – ₦1,000,000, repayment up to 12 months.
- Interest Rate: 15% – 34% depending on your repayment history.
- Pros: Quick approval, no paperwork, trusted globally.
- Cons: Interest can be high for first-time borrowers.
Click here to download Branch on Google Play or App Store
2. FairMoney
FairMoney doesn’t just give you loans; it also provides a digital bank account and debit card.
It’s perfect for people who want both instant loans and banking services in one app.
- Loan Range & Features: ₦2,500 – ₦1,000,000, repayment up to 12 months.
- Interest Rate: 10% – 30% depending on the loan size.
- Pros: Fast loans, extra banking services.
- Cons: Larger loans need consistent repayment history.
Click here to download FairMoney loan app on Google Play or App Store
3. Carbon (Paylater)
Carbon is one of the pioneers of digital lending in Nigeria.
It rewards loyal users with cashback and also allows you to invest or pay bills.
- Loan Range & Features: ₦3,000 – ₦1,000,000, repayment 1–12 months.
- Interest Rate: 5% – 30%.
- Pros: Cashback rewards, flexible app.
- Cons: Harsh penalties for late payment.
Download Carbon loan app on Google Play Store
4. Renmoney
Renmoney is like the “big brother” of loan apps.
It provides larger loans, making it great for business owners or big expenses.
- Loan Range & Features: ₦50,000 – ₦6,000,000, repayment up to 24 months.
- Interest Rate: 2.8% – 3.5% per month.
- Pros: High loan amounts, long repayment terms.
- Cons: Requires more documentation.
5. QuickCheck
QuickCheck prides itself on transparency. It tells you the exact repayment amount before you accept the loan.
- Loan Range & Features: ₦10,000 – ₦500,000.
- Interest Rate: 2% – 30%.
- Pros: Honest and clear terms, quick cash.
- Cons: Late repayment reduces your loan chances.
6. EaseMoni
EaseMoni is simple, friendly, and one of the top-rated apps on app stores.
It’s designed for people who want quick loans without stress.
- Loan Range & Features: ₦3,000 – ₦200,000.
- Interest Rate: 5% – 20%.
- Pros: Very high ratings, reliable, easy to use.
- Cons: Loan amounts are modest.
7. Okash
Okash is one of the oldest and most reliable lending apps in Nigeria.
It is fully licensed and trusted by millions of Nigerians.
- Loan Range & Features: ₦3,000 – ₦300,000.
- Interest Rate: 10% – 24%.
- Pros: Licensed, trustworthy, fast.
- Cons: High interest for smaller loans.
8. PalmCredit
PalmCredit is the go-to app when you need emergency cash quickly.
It’s widely known for instant approvals.
- Loan Range & Features: ₦2,500 – ₦300,000.
- Interest Rate: 14% – 24%.
- Pros: Fast approval, flexible.
- Cons: Short repayment periods.
9. Aella Credit
Aella Credit rewards good borrowers.
If you pay early, you get cashback bonuses.
- Loan Range & Features: ₦5,000 – ₦100,000.
- Interest Rate: 6% – 20%.
- Pros: Cashback rewards, simple app.
- Cons: Low loan limits at first.
10. WeCredit
WeCredit is gaining attention for easy approvals and fair terms.
It’s ideal for users who need mid-sized loans.
- Loan Range & Features: Up to ₦500,000.
- Interest Rate: 12% – 30%.
- Pros: Quick approval, smooth interface.
- Cons: Aggressive reminders for late payers.
11. Kuda Loan
Kuda, the popular digital bank, also gives loans.
If you’re already a Kuda user, you can enjoy their loan service with ease.
- Loan Range & Features: Up to ₦150,000.
- Interest Rate: 6% – 20%.
- Pros: Trusted bank app, fair interest.
- Cons: Only for existing customers.
12. ALAT by Wema
ALAT is Nigeria’s first digital bank, backed by Wema Bank.
Its loan service is reliable and bank-approved.
- Loan Range & Features: ₦30,000 – ₦300,000.
- Interest Rate: 2% – 10% monthly.
- Pros: Bank-backed, safe, and reliable.
- Cons: Needs proper verification.
13. PalmPay Loan
PalmPay is popular for payments, but it also offers quick loans.
It is best for people who already use PalmPay for transactions.
- Loan Range & Features: Up to ₦1,000,000.
- Interest Rate: 10% – 28%.
- Pros: Big loan amounts, cashback features.
- Cons: Loan offers depend on your app activity.
14. Zedvance (MoneyPal)
Zedvance is licensed and safe, with a reputation for serving salary earners.
- Loan Range & Features: ₦2,500 – ₦100,000.
- Interest Rate: 5% – 20%.
- Pros: Licensed, payroll-friendly.
- Cons: Smaller loan limits.
15. NewCredit
NewCredit is loved for its simplicity.
It’s perfect for young people who need quick access to cash.
- Loan Range & Features: Up to ₦100,000.
- Interest Rate: 15% – 24%.
- Pros: Simple, fast, reliable.
- Cons: Limited amounts.
16. XcrossCash
XcrossCash is making waves with its user-friendly service.
It’s good for short-term cash needs.
- Loan Range & Features: ₦10,000 – ₦50,000.
- Interest Rate: 10% – 25%.
- Pros: Easy approval, solid app rating.
- Cons: Only short-term loans.
17. EasyBuy
EasyBuy is popular for gadget financing but also offers loans.
It’s handy for small businesses and personal use.
- Loan Range & Features: ₦2,500 – ₦300,000.
- Interest Rate: 6% – 24%.
- Pros: Good for gadgets, flexible loans.
- Cons: Moderate interest rates.
18. EazyCredit
EazyCredit focuses on business owners and SMEs. It allows bigger loans compared to most apps.
- Loan Range & Features: ₦20,000 – ₦5,000,000.
- Interest Rate: 2% – 30%.
- Pros: High ceilings, great for SMEs.
- Cons: Requires paperwork for bigger loans.
19. TLoan
TLoan is simple and beginner-friendly.
It’s a good choice for students or first-time borrowers.
- Loan Range & Features: ₦2,000 – ₦100,000.
- Interest Rate: 12% – 28%.
- Pros: Small and fast loans, easy app.
- Cons: Short repayment period.
20. Page Financials
Page Financials is trusted for high loan ceilings.
It’s great for professionals and businesses.
- Loan Range & Features: ₦10,000 – ₦5,000,000.
- Interest Rate: 3% – 25%.
- Pros: Very high limits, flexible terms.
- Cons: Not regulated by CBN.
See Also: List of Loan Apps Banned in Nigeria 2025 (Blacklisted Apps)
Comparison Table of the Top 20 Loan App in Nigeria
| App Name | Loan Range | Interest Rate | Repayment Period | CBN Approved? |
|---|---|---|---|---|
| Branch | ₦3,000 – ₦1,000,000 | 15% – 34% | Up to 12 months | Yes |
| FairMoney | ₦2,500 – ₦1,000,000 | 10% – 30% | Up to 12 months | Yes |
| Carbon | ₦3,000 – ₦1,000,000 | 5% – 30% | 1–12 months | Yes |
| Renmoney | ₦50,000 – ₦6,000,000 | 2.8% – 3.5% monthly | Up to 24 months | Yes |
| QuickCheck | ₦10,000 – ₦500,000 | 2% – 30% | Varies | Yes |
| EasiMoni | ₦3,000 – ₦200,000 | 5% – 20% | Short term | Yes |
| Okash | ₦3,000 – ₦300,000 | 10% – 24% | Short term | Yes |
| PalmCredit | ₦2,500 – ₦300,000 | 14% – 24% | Short term | Yes |
| Aella Credit | ₦5,000 – ₦100,000 | 6% – 20% | Short term | Yes |
| WeCredit | Up to ₦500,000 | 12% – 30% | Short term | Yes |
| Kuda Loan | Up to ₦150,000 | 6% – 20% | Short term | Yes |
| ALAT by Wema | ₦30,000 – ₦300,000 | 2% – 10% monthly | Varies | Yes |
| PalmPay Loan | Up to ₦1,000,000 | 10% – 28% | Varies | Yes |
| Zedvance | ₦2,500 – ₦100,000 | 5% – 20% | Short term | Yes |
| NewCredit | Up to ₦100,000 | 15% – 24% | Short term | No |
| XcrossCash | ₦10,000 – ₦50,000 | 10% – 25% | Short term | No |
| EasyBuy | ₦2,500 – ₦300,000 | 6% – 24% | Short term | No |
| EazyCredit | ₦20,000 – ₦5,000,000 | 2% – 30% | Long term | Yes |
| TLoan | ₦2,000 – ₦100,000 | 12% – 28% | Short term | No |
| Page Financials | ₦10,000 – ₦5,000,000 | 3% – 25% | Long term | No
|
Advantages of Using Loan Apps in Nigeria
- Fast approval: no waiting for weeks like banks.
- Simple process: just your phone and BVN.
- 24/7 access: even at midnight, you can get a loan.
- No collateral: perfect for students, small businesses, and individuals.
- Credit history: if you repay on time, you unlock bigger loans later.
Disadvantages of Loan Apps
- High interest rates: many charge way more than banks.
- Short repayment periods: sometimes only a few weeks.
- Debt harassment: some unapproved apps harass borrowers.
- Scam risks: beware of fake or unlicensed apps.
How to Stay Safe with Loan Apps
- Always confirm if the app is CBN-approved.
- Read the terms and conditions before accepting.
- Borrow only what you know you can repay.
- Avoid shady apps that don’t have a clear address or customer support.
Conclusion
If you’ve been searching for the top 20 loan app in Nigeria (2025), this guide has shown you the most reliable ones.
Remember, not every loan app is safe, and not every loan is worth taking.
The best choice is the one that balances fair interest, repayment time, and CBN approval.
So, whenever you’re in urgent need — whether it’s rent, business, or school fees — these apps can be your safety net.
But please, borrow responsibly.
Did you want more options? Check out our Top 30 Loan Apps in Nigeria (2025) for an even bigger list.
See Also: Top Loan Apps Without Face Verification in Nigeria 2025
FAQs
Which is the best loan app in Nigeria right now?
FairMoney, Carbon, and Branch are among the most reliable in 2025 because they’re trusted, easy to use, and widely approved.
Can I get a loan without collateral in Nigeria?
Yes. All the apps in this list provide loans without collateral. You just need a smartphone, BVN, and sometimes your ID.
Which loan apps are approved by CBN?
Apps like FairMoney, Carbon, Renmoney, PalmPay, ALAT by Wema, and Zedvance are licensed and regulated.
What happens if I don’t repay a loan?
If you fail to repay, your details may be reported to credit bureaus, your loan limit will drop, and in some cases, apps may contact your phone contacts.
See Also: Top 10 Most Downloaded Loan App in Nigeria (2025)
Are these loan apps safe to use?
Yes, but only if you stick with CBN-approved and trusted apps like the ones listed here. Avoid downloading suspicious apps from unknown sources.
