12 mobile (lending) loan apps in Nigeria for your urgent business and individual needs

Are you in need of mobile loan apps in Nigeria where you can access urgent loans? Then this is for you. There are different mobile apps where you can get urgent loans in Nigeria.  These mobile loan apps are developed by online lending firms that give out quick loans with no collateral.

lending-loan-app-nigeriaYou don’t have to worry about the stress and cost of going to their offices to apply for loans. All you have to do is to simply download the app, fill in your details, and you can get your cash within 24 hours. Here are 12 mobile apps where you can access quick loans in Nigeria.

1. Aella Credit Loan App

Features:

  • This app gives users easy access to loans within 2 minutes by using only their employee ID, name, and BVN.
  • It uses a credit scoring algorithm to determine how much loan can be given to a potential borrower based on their credit history. This mobile app also uses Amazon Rekognition for identity verification.

Number of downloads: 500,000+

Problem(s) you may face: Reviews indicate that:

  • Loans may not be disbursed to you if your debit card is Verve.
  • Loan amount accessible to borrowers may not increase even after paying back previous loans on time.
  • Registration may not be successful if the Date of Birth filled in does not tally with the one in your BVN, or if your employee details are stated incorrectly.

2. Branch Mobile Loan App

Features:

  • You can easily apply for loans up to ₦150,000 on Branch app with no paperwork, collateral or office visits.
  • This app makes use of text messages, GPS, call log, contact, as well as the credit history of a borrower to determine his/her creditworthiness.
  • Loan disbursement is done within 24 hours of your application.

Number of downloads: 100,000,000+

Problem(s) you may face: Reviews indicate:

  • Poor repayment experience.
  • Delay in a loan approval.

3. Carbon (Paylater) Mobile App

Features:

  • Use your wallet to make transactions and earn rewards on Carbon
  • Fund your Carbon wallet through bank transfer
  • Top up loans
  • Get instant loans of up to ₦1million within minutes. No documents or collateral required
  • Pay bills for all your favourite services, such as GoTV, DSTV, LCC, or Bet9ja
  • Recharge airtime on any mobile network.
  • Transfer money to friends and family.
  • Grow your wealth. Earn interest of up to 16% annually by investing in PayVest (Carbon’s high-interest investment plan).

Number of downloads: 1,000,000+

Problem(s) you may face: Reviews indicate:

  • Difficulties completing registration if the number linked to your BVN was recently changed to a new one.
  • Delay in your bank account being credited when you transfer funds from your Carbon wallet to your bank account.

4. FairMoney Mobile App

Features:

  • FairMoney app allow users to access up to ₦150,000
  • Loans can be repaid via USSD transfer.
  • Users get a 5% discount when they buy data and airtime, and also get rewarded with a ₦500 discount off their next loan when they invite friends to get a loan with FairMoney.

Number of downloads: 1,000,000+

Problem(s) you may face: Reviews show that:

  • OTP code may still be sent to the old number previously linked to your BVN even after updating a new number with your bank.

5. QuickCheck Mobile App

Features:

  • This app uses machine learning to determine the creditworthiness of potential borrowers.
  • First-time users can borrow up to ₦200,000 within minutes from their smartphone.

Number of downloads: 100,000+

Problem(s) you may face: Reviews indicate poor registration experience.

6. Page financials

Features:

  • Transfer money to any account, pay bills, and buy airtime at zero charges
  • Instant top up
  • Fingerprint login access
  • In-app chat
  • Easy and fast access to loans
  • Loyalty rewards
  • Get 10% overdraft on an existing loan at 0.05% daily interest rate on amounts used.
    • Number of downloads: 50,000+

Problem(s) you may encounter:

  • Most users have experienced issues uploading their government ID.
  • Users have also complained of the inability of the app to verify their BVN.

7.  Sokoloan Mobile App

Features:

  • Sokoloan mobile app allow users to borrow up ₦100,000.
  • This app verifies the identity of borrowers and creates a credit score using data on their phone such as text history.

Number of downloads: 500,000+

Problem(s) you may encounter: Reviews indicate that loan disbursement or approval may be delayed.

8.  Alat (by Wema) Mobile Loan App

Features: With Alat mobile app, you can:

  • Access loans, schedule transfers, save and pay bills automatically
  • Get your bank card delivered to you anywhere in Nigeria
  • Get up to 10% interest on your savings
  • Request a receipt after each transaction
  • Receive notifications on the new app version
  • Set security questions for easy retrieval or change of password

Number of downloads: 100,000+

Problem(s) you may encounter: Reviews indicate difficulties completing registration on this app.

9. QuickCredit Loan App

Features:

  • This app is sponsored by Guarantee Trust Bank (GTB).
  • You don’t have to fill any form to access loans rather Quick Credit app uses the transaction history of your GTB account to determine your eligibility for a loan.

Number of downloads: 10,000+

Problem(s) you may encounter: Reviews indicate that:

  • Poor registration experience
  • Delay in a loan approval.

10. Palmcredit Mobile Loan App

Features: With this loan you can:

  • Get quick loans up to ₦100,00 within 3-5minutes without any collateral or paperwork.
  • Win up to ₦80,000 cash bonus if you refer your family & friends to Palm Credit.
  • Repay your loan in time or complete increase limit tasks to increase your credit limit and reduce on the interest rate.

Number of downloads: 1,000,000+

Problem(s) you may encounter: Reviews indicate:

  • Issues with loan disbursement
  • Poor repayment features

11. QuickBucks Loan App

Features:

  • This is a mobile loan app powered by Access Bank. It has the following features:
  • Easy sign-in process using either your email address or phone number, and password
  • Fingerprint authentication for easier login.
  • View all eligible loan facilities including active loans.
  • Access direction to places such as supermarkets, bank branches, and shop with ease without any collateral.

Number of downloads: 100,000+

Problem(s) you may encounter: Reviews indicate:

  • Repayment facilities is not available on this app
  • Poor registration experience.

12. Haloo Credit Loan App

Features: With this app, you can borrow as much as ₦100,000 within 5 minutes. No paperwork or collateral is required.

Number of downloads: 10,000+

Problem(s) you may encounter: Reviews indicate:

  • Difficulties completing registration
  • Poor repayment facilities

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