Instant and reliable loan app in Nigeria (easy and quick disburse)

Though there are now many loan apps in Nigeria thanks to startup boom, it is hard to see loan app that will will disburse loan immediately after application some will take weeks even months before giving out a loan and those that are quick to disburse can not be trusted, they are actually there to milk their user dry, this is why we decided to list the instant and reliable loan app in Nigeria.

How does this loan app operate?

It is as simple as downloading their app or logging into their web app, registering, and requesting a loan.

If you qualify or meet the requirements, the loan will be disbursed into your account in minutes. If you do not qualify or meet the requirements, you can try another loan app among those listed below, as not all of them check credit worthiness.

To repay the loan, enter your credit card information in to the space provided on the app, and they will deduct the amount you specify.

What happens if I fail to repay a loan?

As previously stated, the majority of the loan companies listed below are professional, but there are penalties for those who default, which depend on their terms and conditions, so I urge you to read their terms and conditions before taking any loan.

What kind of material do they need?
As previously stated, they do not require collateral; all you need to prepare is your BVN number, account number, credit card, and sometimes your income statement.

Migo Loan

When it comes to instant loans in Nigeria, Migo loan is at the top of the list; getting a loan from them is simple and easy; you can get a loan in 5 minutes and you don’t need any collateral or documentation; all you need is your bvn.

To apply, download and request on their app or with a used code. If your application is successful, you will be given a loan in minutes with a maximum loan amount of #200,000 and a payback time of one month.
This is how Migo loan operates.

They collaborate with financial institutions such as banks and telecommunication companies to provide loans to their customers or users.

For example, if you have a Wema bank account, dial the code (*561#) on the number you used to register, and the amount you can loan will appear.

PageFinancial loan app

Page Financial is another instant and reliable loan app in Nigeria. Their loan disbursement is quick, if you apply, your loan will be disbursed within minutes.

They provide loans of up to #500,000 without the need for collateral or paperwork. However, before applying, ensure that you have not previously defaulted on any loan; otherwise, you will not be eligible for a loan.

Their interest rate ranges between 5% and 15%, depending on the length of the loan and the amount borrowed.

Rosabon Financial

Rosabon Finance also provides instant loans in Nigeria, but you must be a paid employee in order to submit proof of salary payment.

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If you are approved, you may be able to borrow up to #500,000, but you will not be able to do so at first. Once you begin taking loans and repaying them on time, you will be able to borrow more.

Credit direct

Credit Direct is a big fish; they mean business, as they are willing to lend people up to #5 million naira, but you must pass their credit worthiness test.

Their interest rate can be as high as 25%, and their payback time is determined by the amount of loan taken.

Zedvance loan app

Zedvance loan is another reliable loan app in Nigeria that can provide a loan in minutes with no collateral or paperwork. You can get a loan of up to #500,000 from Zedvance. Their interest rates are determined by the amount borrowed and the length of time it takes to repay the loan.

Make sure you have a good credit score before applying because your creditworthiness will be checked.

To apply, go to the Play Store for Android users or the App Store for iPhone users to download their app, login, register, and request a loan. Your loan will be disbursed within 5 minutes.

Carbon loan app

Carbon has proven to be one of the best instant and reliable loan app in Nigeria, and they are ready to give you a loan of up to #5 million in minutes.

To use them, go to their website or download their app from the Google Play Store, register, and request a loan; the loan will be disbursed within minutes; no collateral or paper work is required; however, you will be required to submit your BVN.

Their interest rates range from 5% to 15%, and the time it takes to repay the loan is determined by the amount requested.

Carbon is more than just a loan app; you can save with them and earn up to 11% interest per year, as well as pay bills, transfer and receive money; in short, they are a mobile money app.

Fairmoney loan app

Fairmoney money has been fair so far; they do not harass or call out their defaulters on social media, nor do they send their obituary to their friends.

They are a professional loan company that provides instant loans in Nigeria without collateral; you can obtain a loan from them ranging from #2,500 to #150,000, and it will be disbursed in minutes.

The interest rate ranges from 5% to 20%, depending on the amount borrowed, and the repayment period can last up to 26 weeks.
They, like carbon, are a mobile money, and you can use the app to transfer, send, and make payments.

kia kia loan app

As their name implies, kiakia, which means quickly, you can obtain a loan with kiakia in minutes. Kiakiai loans start at #50,000 and have a 3.5 percent interest rate. It is simple and does not necessitate the use of collateral or paper work.

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To determine your creditworthiness, you must chart with Mr. Kia Kia, a bot that will ask you some questions to answer. If you pass, your loan will be disbursed in minutes.

Quick check loan app

Quick check will provide you with a loan of up to #500,000 without the need for collateral or paperwork; all you need is your bvn. The interest rate on their loan is determined by the amount borrowed and the loan’s payback period, which is measured in months.

If you pay off your loan as soon as possible, your interest rate will be lower and your credit worthiness will improve.

Aella credit loan app

Aella credit also provides instant loans in Nigeria and they are reliable; it is a popular app with a presence in Ghana, Nigeria, and the Philippines. They can lend you up to #500,000, with interest rates ranging from 4% to 25%.

They have the shortest payback period, which is between one and three months, but keep in mind that the longer the payback period, the higher your interest rate.

Other than loans, you can invest with them and earn an annual interest rate of 26 percent. You can also pay bills, transfer and receive money.

Branch loan app

Branch is one of the best loan app in Nigeria; it has been featured on Blomberg and Forbes, and it offers loans of up to #200,000 without collateral at interest rates ranging from 15% to 30%. The loan repayment period ranges from 4 to 54 weeks, depending on the amount borrowed.

They also provide features such as saving, where you can earn 20% on the amount you save, as well as the ability to transfer money for free, pay bills, and conduct other transactions.

Palm credit loan app

You can also get an instant loan with Palm credit, which offers loans of up to #500,000 without the need for collateral or documentation.

To apply, go to the play store or app store and download the app Palm credit, register, and request a loan; in minutes, your account will be credited; however, you must submit your bvn before you can get a loan from them.

The interest rate ranges from 14% to 28%, and the repayment period ranges from 90 days to 180 days, depending on the amount borrowed.

C24 loan app

C24 loan app mean business, as they have disbursed over #5 billion in loans and have over 150,000 customers.

They also provide instant loans and reliable; your account will be credited within minutes of applying. They have a lengthy payback period, which is usually in months.

Specta loan app

If you need a quick, emergency loan in Nigeria, Specta Loan is the place to go. They provide loans of up to #5 million in minutes without the need for collateral or documentation, but you must have a bvn and a good credit score.

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The interest rate and time required to repay the loan are determined by the amount borrowed. Individuals and businesses in Nigeria are their target audience.

To use them, go to the app store or play store, download their app, and request a loan; it is simple and quick.

Jumia loan

Do you know that you can also get a loan from jumia, yes, that ecommerce app? With jumia pay, a subsidiary of jumia, you can get an instant loan of up to #200,000 with no collateral or guarantor, the interest rate is 3.5 percent, and the repayment period is one month.

Your loan will be disbursed in minutes if your application is approved.

Kuda Bank

Kuda bank, one of the best online banks in Nigeria, also provides customers with instant loans. Before you can access a loan, you must first register on the app and become a user.

Their loan is known as an overdraft, and you can get up to #200,000 depending on your monthly transaction volume.

The interest rate is 0.3 percent per day, and the repayment period is one month; if you repay your loan in full before the due date, you will pay a lower interest rate.

Okash loan app

Okash is from Operamini, a popular web browser in Nigeria. It is one of the instant and reliable loan app in Nigeria. Okash allows you to borrow up to #100,000 and repay it monthly at a 3.5 percent interest rate.

Okash loan app approve applications quickly, and your loan will be disbursed within minutes of applying.

Conclusion

The loan apps listed above provide instant loans in Nigeria without collateral or guarantor and they are reliable; to find the one that best suits your needs, try as many as possible with small loans.

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