Top 17 Loan Apps In Nigeria By Customer Feedback 2022

The emergence and evolution of instant loan apps in Nigeria and of course digital lending globally has distorted the dynamics of traditional banking and aided financial inclusion for many who hitherto were left out.

The pandemic that shook the world few years back changed the financial fortunes of many and thrown many family budget out of place, no thanks to the millions of people globally who lost their jobs and many that became underemployed. But thanks to the sudden globalization of loan apps which makes it possible to borrow borrow from digital lending platforms without needing collateral, documents or guarantors.

When living paycheck to paycheck, an unexpected expense can significantly disrupt plans. This is where loan apps become handy and useful, providing short-term solution to such financial disruptions.

One common way to cover expenses until the next paycheck or salary is to borrow money from any of the many loan apps in Nigeria, with the promise of making repayment with a future paycheck. Small businesses too can make use of several loans apps in Nigeria that are exclusively set up to serve such segment.

Now let us consider our list of top 17 loan apps in Nigeria that you can borrow from. We drew up this list from customer feedback, reviews and ratings based on practical usage. Please give us your feedback after using any of the following lending apps.

List Of Top 17 Best Loan Apps In Nigeria By Customer Feedback 2022

Reputable Loan Apps For Instant Cash In Nigeria 2022

Below is a list of the top 17 best loan apps in Nigeria by customer feedback for 2022.

  1. Branch
  2. Carbon
  3. FairMoney
  4. Aella Credit
  5. Umba
  6. Money In Minutes
  7. Page Financials
  8. QuickCheck
  9. Lendigo
  10. iCredit
  11. Migo
  12. Baobab Loans
  13. Specta Loan
  14. Lidya 
  15. SukFin 
  16. Renmoney
  17. QuickCredit

1. Branch

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022

Branch is one of the best loan apps in Nigeria for instant cash and our 1st pick for the most reputable by customer feedback. It is a financial lending app that makes it easy for people in Nigeria and some few other countries to get quick loan up to ₦500,000, to transfer money for free, and enjoy investment yields of 20% per annum.

You can simply apply through the Branch app and get approved in under 24 hours. Branch don’t charge late fees or rollover fees, nor put restrictions on how you spend your money, and our customer support team is available 24/7. If you ever needed loan apps in Nigeria for instant cash that are reliable, this is one of your best pick.

Requirements are simple – all you need to apply is your phone number or Facebook account, bank verification number (BVN) and bank account number. They will also request access to the data on your phone in order to build your credit score.

2. Carbon

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022

Carbon, formerly known as Paylater, is our 2nd pick in the list of top 17 best instant loan apps in Nigeria by customer feedback in 2022.

Digital loan from Carbon do not require collateral or guarantors. At your first try, you may not be able to access big cash, you start by borrowing small, and paying back as at when due, then you can have access to bigger funds.
The loan app platform is available 24/7. You can apply for instant cash on weekends and holidays and get a quick loan.

3. FairMoney

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022

FairMoney is our 3rd pick in our list of top 30 best instant loan apps in Nigeria by customer feedback in 2022 for quick cash loans.

Loan amounts range between ₦1,500 to ₦1,000,000 with repayment periods from 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%)

4. Aella Credit

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022

Aella Credit loan app exists to simplify and open up financial access for all in emerging markets by leveraging technology and widespread mobile adoption for Nigerian borrowers. It is the 8th pick on our list of instant loan apps in Nigeria by reputation.

The mission statement of the credit company is to help customers build financial independence by providing access to simple products; quick loans, instant cash, investment opportunities and bill payments.

How Aella Credit Loan App Works

  • 1. Download Aella app
  • 2. Create your account
  • 3. Update your profile
  • 4. Check Eligibility
  • 5. Apply for loan
  • 6. Receive funds in your bank account

5. Umba

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022

Umba is the 5th pick on our list of instant loan apps in Nigeria by customer feedback for 2022. The lender prides itself as the leading digital bank in Africa. The app allows users to apply, drawdown and repay loans directly from their smartphone or desktop computer.

Once an individual is verified, it makes lending decisions based on an assigned risk rating.

How To Get Started

Create your account
Apply in seconds
Receive an Umba Loan
Increase your loan limit every time you repay a loan on time

6. Money in Minutes

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022

Money In Minutes is our 6th pick in the list of instant loan apps in Nigeria based on customer feedback and user experience. The platform is managed by MIM Finance Company, a UK-originated lending platform with presence across three (3) continents and Nigeria’s 1st Credit Membership that gives instant cash.

The platform has a robust and wide range of products to help you access affordable finance for various needs and purposes.

7. Page Financials

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022

Page Financials is one of the best instant loan apps in Nigeria for quick cash loans by customer experience, licensed by the Central Bank of Nigeria (CBN) with over 6 years’ experience in providing cutting edge digital solutions.

The organizations provides instant cash once your loan is approved, it also provides investment and other financial services through its various channels including internet and mobile app platforms. Its outstanding products and services are created to suit the financial requirements of its diverse clientele.

8. Quick Credit

Quick Credit is one of the top reputable instant loan apps in Nigeria by customer experience for 2020. The platform strives to provide borrowers and mobile users with convenient lending and quick loan services.

With simple steps and minimal documentation, users can get qualified loan products which is 100% online process. Once approved, the loan amount will be immediately transferred to the applicant’ s bank account.

Product Features
1.Tenure: From 91 days to 365 days.
2.Loan Amount: From NGN.1,500 to NGN.50,000.
3.The maximum Annual Percentage Rate (APR) is 36%.
4.Origination fee: From 1% to 9%.

9. Lendigo

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022

Lendigo lending platform prides itself as Nigeria’s No 1 SME Finance Provider and the 20th on our list of reputable instant loan apps in Nigeria. The lending platform offers Nigerian SMEs easy, fast and flexible access to working capital according to their business requirements and suited to their finance needs.

If you are a SMEs that provide Retail and Professional services as well as traders of general merchandise such as Electronics, Computing, Phones, Fashion & Apparel, Household Goods among others, then you can apply for Lendigo loan in minutes and get it processed for you.

Up to ₦10m Loan
Apply in Minutes
Low Interest Rate
Flexible Terms

10. iCredit

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022

iCredit is one of the instant loan apps in Nigeria by customer experience in 2022. The app gives out loans to customers without the use of document or collateral. We do not have any report yet that this lending platform shame its customers for loan default and thus qualify for our 10th pick for loan apps by reputation.

HOW TO APPLY FOR ICREDIT LOAN
Install the iCredit APP;
Register an account;
Fill out your basic information and submit;
Receive your loan straight into your bank account;
Your loan limit will be increase if you repay your loan on time.

FEATURES
You can borrow up to ₦50,000;
You can choose your payment flexibly;
It is secure, reliable, and flexible;
Available 24 hours, every day of the week.

To download iCredit app on Google Play Store, CLICK HERE.

11. Migo

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022

Migo (formerly kwikmoney) is a cloud-based lending platform and the 11th on our list of reputable instant loan apps in Nigeria based on customer experience. The application enables you access to instant loan and if willing, to make purchases from merchants or withdraw cash without the need for a smartphone, point-of-sale hardware or plastic cards.

Migo strives to ensure your online loan request enters your account (or the account of the merchant you are paying) right after you complete your application session.

Migo loan amounts range from N10,000 to over N500,000 but limited to N50,000 for a new customer.  You do not need any collateral, guarantor or documentation to request a Migo loan.

All you need is an android phone, your banking details including BVN and a complete online application form.

You can also get a Migo loan by dialing *561# for MTN, 9mobile, and Glo or *554*561# for Airtel. From the list, select “Request Loan” to see a list of your customized loan offers.

12. Baobab Loans

Top 17 Loan Apps In Nigeria By Customer Feedback 2022

Baobab Microfinance Bank is our 12th pick on the list of urgent loan in Nigeria without documentation or very minimal documents. It gives out loans to individuals and business owners to enable them grow and expand their businesse. They have different categories of loans.

The loan organization claims it can make credit decision and disbursement with in 72 hours if all requirement are met and fulfilled. Baobab gives out loan between N20,000 to N50 million repayable in 1 to 24 month with minimum administrative procedures.

Baobab minimum loan amount is N20,000 and a Maximum amount of N50,000,000. Both depend on the borrower’s repayment capacity assessed based on verifiable business inventory and other criteria.

CLICK HERE to apply for Baobab Loans

13. Specta Loan

Loan in minutes in Nigeria

Specta is an online lending platform that gives you loans of up to 5 Million in one transaction all within 5 minutes! No collateral, no paperwork and no visit to any office. It is our 13th pick on the list of top 17 loan apps In Nigeria by user experience for 2022.

With Specta, you can take care of urgent personal and business needs anywhere, anytime. The Specta4individuals package is particularly tailored towards accessing a personal loan of up to N5 Million without collateral in 5 minutes.

14. Lidya

Lidya is a USA holding financial institution though operating its arm in Nigeria while providing instant small business loans without collateral across the country. The company is spread across 3 continents and 5 countries which are USA, Portugal, Nigeria, Poland and Czech Republic. Lidya says it can grant instant credit between N50,000 to N30m to small businesses  in 24 hours.

How Lidya Loan Works

To assess credit risk, Lidya SME loan uses close to 100 data points to evaluate businesses, build a credit score unique to each business, and disburse loans in 24 hours or less.

The following are the processes to access Lidya small business loans

  • Use your bank statements to get your loans
  • Upload your transaction history. Upload your data quickly and safely in our platform. Your data will be analyzed in 24 hours.
  • Understand your transaction data. Have a record of all your transactions that you can access online, anytime and anywhere.
  • Be qualified for a loan. If your business needs more working capital to grow, this is the premier option for you.
  • Get loans. Get access to funds immediately!

To Apply for a Lidya Business Loan CLICK HERE

15. SukFin

SukFin Top 20 Loan Apps In Nigeria 2022

SukFin is our 17th pick for our comprehensive list of the top 17 loan apps in Nigeria by user experience and customer reviews for 2022.

The app provides a free and easy way for SMEs in Nigeria, to research and find finance for their businesses. The organization employs the use of tech and expertise to match SMEs with a variety of lenders — giving access to a number of funding products across Nigeria.  It’s easy to apply and as long as you provide them with requested information — funds can be in your account quickly and instantly.

How SukFin Small Business Loans Without Collateral Works

  • 1. Tell how much money you need and what it’s for
  • 2. SulFin will match your requirements with their lenders
  • 3. They will get your loan approved and your small business financed

SukFin SME Loan Scheme understand that getting finance for your business in Nigeria can be incredibly frustrating. It is upon this foundation that SukFin was founded — to make it easy for business owners to find the right finance products.

The company works with numerous lenders across the whole business funding market. They claim to have helped many of their customers find unsecured loans, invoice financing, equipment leases, startup loans and more.

To apply for SukFin Small Business Loan, CLICK HERE.

16. Renmoney

Renmoney is the 16th on our list of top 17 instant loan apps in Nigeria by customer experience for 2022. The platform has its head office in Lagos.

You can get a quick loan on the Renmoney app in just a few steps. Renmoney quick online loans are for employed or self-employed people as well as business owners. So, if you need an instant personal or business loan, you can borrow from ₦6,000 to ₦6,000,000 and repay in 3 to 24 months.

You can download the Renmoney app on Google Play Store by clicking here

17. Quick Credit

Quick Credit is our 17th and last instant loan apps in Nigeria based on customer feedback for 2020. The platform strives to provide borrowers and mobile users with convenient lending and quick loan services.

With simple steps and minimal documentation, users can get qualified loan products which is 100% online process. Once approved, the loan amount will be immediately transferred to the applicant’ s bank account.

Product Features
1.Tenure: From 91 days to 365 days.
2.Loan Amount: From NGN.1,500 to NGN.50,000.
3.The maximum Annual Percentage Rate (APR) is 36%.
4.Origination fee: From 1% to 9%.

 

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About the Author: Cecilia Robinson

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