Best Mobile Phone Loan Apps For Online Lending In Nigeria

Best Mobile Phone Loan Apps For Online Lending In Nigeria

Rule out visiting the banks for loan. You can meet your needs quickly with the best loan apps in Nigeria with no collateral. Apps are available on play store and apple store.

Do you wish to start up a business, meet some immediate needs or support your business but you do not know where to get a quick business loan with no collateral?

Opting to seek for a loan is not new in the business world. This is just one of the ways you can raise money for business, aside savings from your regular income and through contributions by families and friends.

If there is what everyone can agree on, it is that the procedures to obtain loans can be rigorous and demanding. If you want to use banks, they will likely demand collaterals as a means to safeguard their position.

Will you blame them? We are living in a world where debtors default payments which by a wide extent imposes doubts on people with creditworthiness.

Want to start an online business?
There are lots of businesses one can embark on, starting up an online store is just one of the several ones out there. If you are short on ideas, you can take a look at the article, “Proven ways to make money online.

Nevertheless, these are just a small part of businesses you can do. You can start up an offline store as well. Nigerians are natural consumers, so starting up a retailed business could work out well. If you have got it in you, you can later expand to large scale.

However, how do you get money to start a business? Below are some of the loan apps with their contact details to meet your business needs

10 Best Quick Loan App In Nigeria Without Collateral

1. Branch

Branch loan app allows people in Nigeria, India, Kenya, Mexico, and Tanzania to enjoy loan facility.

The loans granted could vary depending on the country you are. Business men and women in Nigeria can enjoy up to N200,000.

Mexico can access up to 20,000 pesos while the people in kenya could get as much as 70,000 Ksh. The most tanzanians will be able to get from branch app is 500 Tsh and indian up to 19,300 rupees.

Unlike most channels to get loan facility, Branch does not ask you to fill in a paper, no office visits and collateral needed.

In order to increase the amount of loan you can get from branch loan app, not defaulting on payment could go a long way in setting you up.

Registering on branch loan app is very easy plus the professional services you can receive from the team.

If you have more questions, the teams provide a channel where they can be contacted.

Download branch loan app from play store by clicking here.

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2. Palmcredit Instant Loan

Palmcredit instant loan is one of the top 10 loan apps with no collateral. With palmcredit instant loan app, you can get up to 100,000 payable within 6 months. The minimum you can get is N2000 and loan facility is only available to Nigerians.

It just takes about 5 minutes to get the fund sent to your bank account after you have registered and got approval.

When you borrow N100,000 which is the principal amount, you are going to pay back N100,000 plus 24% interest rate in 6 months. In other words, N124,000 will be paid back to Palmcredit.

To make the payment less rigorous for you, you can be setting up N20,667 every month for 6 months.

Guess what? On palmcredit, you can get up to N80,000 by referring friends.

Download now on Playstore.

Mobile no: 017001000
Facebook Page:

3. FairMoney Loan App

Here is another best loan app in Nigeria. Fairmoney loan app supports your business with a amount of cash not more than N150,000.

On fairmoney loan app, you will be able to select your repayment period but not exceed 6 months which can be done in installments or at one go.

Aside from the interest, you pay on loan, there is no additional cost attached to your loan. The interest is between 2% and 28% depending on the principal and repayment period.

To access the loan, download the app on google play store.


4. Aella Credit Loan App

Thinking about buying some home appliances or want to start up a new project? Aella Credit App is at the forefront of making that dreams come true.

Aella Credit is just another source to get your projects up and running, mainly directed to employees. In less than 3 minutes, you can have your fund delivered into your account.

Unlike other sources, Aella Credit will demand you bring forward your company to sign up with Aella Credit. This is a measure to protect their own interest.

Eligibility is not as simple as the others but once you get your company on board, accessing loan will be quick.

For you to get started, your company will need to provide Corporate Affairs Commission (CAC) documents and slot in some information. Adding employees is also part of the actions to take by the human resources in your company and the amount of loan you can access.

Download the app on google play store now to enjoy a competitive interest rate on Aella Credit.

It is also available on apple store for iPad and iPhone users.

Mobile no: +2349080296333

5. Carbon Loan App (Pay Later)

Carbon loan app, formerly called Paylater, grants you short term loan facility for personal and business needs. It is only obtainable in Nigeria.

It is a service set up by a corporate finance firm with terms carefully stated upon downloading PayLater App (Carbon)

The main attraction on Carbon loan app (paylater) is that you can enjoy as much as one million naira (N1,000,000). No collateral, referees or documentation needed as well.

The most interesting part of carbon loan app is the low-interest rate and bill payments available on the platform. No fee charges on bill payments and transfer to the bank is just N10 processing fee.

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If you are using your bank apps for interbank transfer, you will need to pay an additional cost of N52.50.

Carbon loan app is more than just a loan app. Fund your bet account, gotv, DStv, LCC and purchase airtime.

Explore carbon loan app to give action to the business idea you have nurtured for some periods. Don’t let it just be an idea, intensify it with funds made available by Pay Later.

Get on with it by downloading the app on google play store.


6. Micromoney

Micromoney offers short term cover for your personal needs and business needs. With the loan app, you can get the loan within a few minutes of applying.

The rules guiding micromoney is that amount to be borrowed should not exceed 40% of your salary. Subsquent loan application can only be considered 5 days after you have fulfilled all obligations on the previous loan.

To get your loan application up and running, all you need is to provide a mobile number, active email address, Bank Verification Number (BVN), 3 months bank statement, and bank details.

Loans approval at times could take about 7 to 10 hours. Be assured that you will get loan status irrespective of the decision the team come up with it. Approval rate is about 64%.

To get the loan app? Go to your mobile store and search for micromoney.

Mobile number/WhatsApp no: 09035344469

7. QuickCheck Loan App

This service is brought to you by Nigerian Fintech Startup and it is also among the best quick loan apps in Nigeria. Its objective is to close the gap between the rich and the poor by providing you with a source of finance.

Quickcheck loan app provides an easy and fastest way to obtain a loan. It does not matter what you need the financing for, be it medical fees, school payments, and other contingencies.

One of the most exciting features on quickcheck is that you can borrow up to N200,000 with low-interest rate. There is also a quick way to sign up using your Facebook profile.

Get the app on play store.


8. Fast Loan App (Fidelity Bank Plc)

Fastloan is a project started by Fidelity Bank Plc to meet the immediate needs of individuals.

Setting up your account on Fast Loan App is not difficult to do, all you need is to get the app running on your smartphone, a phone number, and bank account.

If you are having problems with revealing your information to other sources of finance, making it known to a financial institution with a lot at stake, should not be a worry to you.

I am no expert on bank data security but I know they invest in firewall and software. This helps to safeguard sensitive data. Financial institutions place greater emphasis on acquiring technological tools to help protect the banks and customers data.

You have nothing to worry about, it is rare for banks to suffer attack no matter how small it might be.

Get in with fidelity bank’s fastloan app and start enjoying easy and fast loan. Download at google play store.

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9. LendMe Loan App

Let us keep this simple. You want to start a small deal but you are having problem with securing the needed fund to execute it?

Look no further, LendMe is here for you to make that dreams come true.

When you just joined in, you will only have access to N2000. The amount you can borrow will gradually increase as you repay subsequent loans.

Paying back the amount borrowed and most importantly early, will automatically impact your credit score. It means you will be able to take more cash from the company to meet your ururgent needs.

On lendme loan app, repayment period is within 2 months to 6 months and the interest rate ranges from 12% to 36% depending on tenor and the principal.

Download the app to start enjoying easy access.


10. QuickBucks Loan App (Access Bank)

You can’t go wrong if you decide to stick with access bank’s quickbucks. Access bank comes up with a plan to help you meet up with urgent needs.

The app was created with a flexible sign in and fingerprint enabled for quick access. Thus, it can be said to be one of the best-secured loan apps in Nigeria.

To register on quickbucks, you will need to download the app from play store, provide your BVN, some few details and you are good to go.

Over 50,000 people that have downloaded the quickbucks cannot be wrong, join the growing list by installing from play store.

The app is also available on IOS app store.


11. Sokoloan Loan App

It now has over 100,000 downloads to its name. This is a proof they are doing something right since most loan apps could not boast more than 10,000 downloads.

Sokoloan is worthy if we say it is one of the best and reliable loan apps in Nigeria. The sour side to the success is you can’t borrow more than N10,000.

Solokan makes use of encryption to protect your identity and data is secured. There is also a need to fill paper and no collateral needed to get a loan. Loan is only available to age bracket of 25-50 years old.

The application is available on play store or you can just click here.


12. Page Financials

This loan app continues to impress as it gets its updates but what impresses me most is that you can get up to a whopping sum of N5,000,000. This is a big one when we compare it with other loan apps.

I won’t say you will get your loan in 2 minutes like the rest but you can get it in not more than 3 hours.

Page financials also ensures you can carry other functions such as buying airtime, transfer cash and pay bills with no transaction fees, and other great features.

It also allows you to process a new loan even when you are still paying the previous. Transactions are quick and secured on page financials.

You can download the app now.


13. Alat loan App (Wema Bank)

Over the years, wema bank has been in the business of safeguarding money and perform other bank-related services. With such responsibilities placed on them, people will agree that they can be relied on.

Alat is one of the initiatives of the bank. On the forefront, it might look like other banks regular app but it does more than what they offer.

Get your needs running by taking advantage of wema bank’s alat loan app.

Download now.



  1. odufolurin Babatunde James June 19, 2022
    • Admin June 20, 2022

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