10 Best Loan Apps in Nigeria 2023 [For Both Students & Business Owners]

We all have that moment that we feel the need to gain access to a quick loan and the best ways to this are through loans app in Nigeria.

Getting loans is not a sign of weakness, every business owners do acquire loan one time or the other to scale up their business.

It could even be your online business that needs scaling and getting access to this online loan apps are the fastest you can get.

Best of all:

  • It is very fast
  • Easy Transfer to Your Account
  • 24/7 Access
  • No collateral needed

With this, you won’t have to worry about anything before gaining access to your loan online even in time of an emergency.

Best Loan Apps In Nigeria

below are the lists of 10 best apps we’ve piled together that can be you to access loans in no time:

  1. Branch
  2. Okash
  3. Migo
  4. Paylater
  5. Fair Money
  6. Palmcredit 
  7. Quickcheck
  8. Aella Credit
  9. kiakia 
  10. ALAT

#1: Branch Loan App

branch loan app

The Branch loan app is one the quickest and easiest online loan app in Nigeria that gives you access to quick loan without collateral.

Your loan ability is determined by your credit score which is based on the previous loan you’ve collected and how soon you pay up. The greater your credit score the better your loan ability and vice versa.


To gain access, there’s no need for any collateral all that’s required of you is your phone number and a mobile device, valid bank account and a valid BVN code.

===>>> Download Branch Loan App Here

#2: OKash (oPay)

okash loan app

Okash is a loan service provided by the popular oPay platform. They are ready to give out loan to any interested individual.

With Okash, the loan decision is usually provided within a few seconds and if approved can be received by the applicant within 5 minutes.


In other to the eligible to apply for Okash loan, you’ll need the following

  • You should be a Nigeria resident
  • 20 – 55 years old
  • Valid ID
  • BVN number
  • Mobile phone

Okash is available for download on Google play store

==>> Download OKash Here! 

#3: Migo (Formely – KwikMoney)

The Migo loan service is formerly known as Kwikcash or Kwikmoney. It’s an automated instant repayable loan service.

It was developed from a partnership between banks and telecommunication companies in Nigeria to make it easy to access loans for business.

You can get from 500 to N500,000 instantly from Migo loans with interest rate from 10% to 25% of the amount you borrowed.


You’ll need a mobile phone, valid bank account, working phone number, your correct BVN number and finally you must be above 18 years of age.

===>> Get Migo Loan App Here

#4: Paylater

Paylater v3 is the latest version of the popular Paylater app with more amazing features that makes it one of the best in the market.

The Paylater loans are available to self-employed individuals and students or simply everyone, which makes it one of the most popular loan apps.

It requires no amount or collateral and it’s available on a 24/7. Finally, they give out from N10,000 to N250,000 loans on an instant payout.

==>>> Get Paylater Loan App Here 

#5: Fair Money

Fair money is also one of the best loan apps in Nigeria that provides single-payment loans, instalment loans and payroll loans for borrowers.

Fair money interest rate is determined by your repayment history and credit score. Their minimum loan is around N10,000 and the upper limit for new customers is N40,000 with no collateral.


  • Valid bank Account
  • BVN Number
  • Mobile Device
  • Working Phone Number

===>>> Get Fair Money Loan App Here

#6: Palmcredit Loan App

The palm credit loan app is equally one of the best loan app to those who reside in Nigeria. Just like the rest it requires no collateral and can be repaid easily from the app.

To Pay back your loans, you just need to visit the app and click “my loans” once there, you’ll be able to pay back your loans with your credit card.

It’s available for everyone to download, self-employed, students and salary earners.


  • BVN
  • Phone number
  • Valid account details
  • Mobile phone

===>> Get PalmCredit Loan App Here 

#7: QuickCheck

Quickcheck loan apps allow you to get a loan easily and quickly from anywhere with just your android device and access to the internet.

Any individual and small business owners can access up to N200,000 loan for business start-up and also for emergencies.

Quickcheck loan app, however, determines their interest rate and your credit score is based on your payment history.

If you’re not eligible to procure a loan on the platform you can wait for another two weeks and try again. They have their own credit scoring algorithm that determines trusted clients that are eligible.


  • Phone Number
  • Android device
  • BVN
  • Valid account Number

===>> Get QuickCheck Loan App Here 

#8: Aella Credit

Aella credit loan service is a loan company that credit loans to an individual on long and short term basis based on their network to the company.

Aella Credit Loan Company recognizes two networks, which is referred to the “out-network” and the “in-networks” customers.

The “in-networks” customers are clients with previous histories on Aella database. That is, client that have previously borrowed money and have returned it successfully.

This is the set of people that qualified for the long term loan facilities up to N720,000.

While the “out-network” are the new client with no previous history, they can borrow up to N90,000 based on their credit score.

===>>> Get AellaCredit Loan App Here 

#9: Kiakia Loan

Unlike the rest KiaKia is a mobile web app for securing loans for any individuals and small business owners. They equally enable money savers on the platform to loan out funds on a bargained priced.

It’s actually a financial services provided by the popular sterling bank that take stronger measures into accessing your credit score before loan crediting.

Their interest rate is between 5% to 24% and a window rate of 7 – 30days of loan repayment.

This however is based on your credit score and financial assessment, which means you can expect a higher or lower interest rate based on your credit score.

===>> Get Kiakia Loan App Here

#10: ALAT by Wema Bank

ALAT was primarily designed as a full digital bank to get everything done from the comfort of your phone.

However, with the new loan feature, you can apply for a loan without paperwork or collateral or visiting physical location.

You can get access to loan as high as N200,000 without any legal requirement or collateral within few minutes.

===>> Get Alat By Wema Bank Loan App Here


So that’s it on the best loan apps in Nigeria, remember to pay back your loan in order to improve your credit score.

What do think?

Which of the loan apps do you prefer to be the best? Let me hear your thoughts on this using the comment section.

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