With the world fast getting automated, many individuals often turn to securing quick and affordable loan from reliable source. I myself have been found in need of these services and so I was inspired to write this articles on some of the best apps that can offer you a loan in Nigeria.

Today I will be giving to you a list or dare i say a break-down of the top 10 best loan apps in Nigeria.
Additionally, it is ideal to have a plan for repayment before securing a loan, and if possible, a back up plan for repayment so as to avoid taking loan which you are unable to pay for.



Founded by Laurin Nabuko Hainy in 2017. Fairmoney is one of the leading loan app here in Nigerian specifically because of the ease in accessing their loan. Basically, you need no paperwork or collateral in order to acquire a loan from this platform.

Additionally, you have the option of extending your repayment date if you are unable to meet up with the actual date stated on your loan. Whether it is a long-term or short-term loans or even installmental loans.

According to the founder Laurin Hainy, on the 22nd of December 2021 said fairmoney has disbursed over 117 billion naira since inception. This should show you the vision he has for this company.

You can install the fairmoney app via google play store.


Personally my best, Branch was founded in 2015 by Alexander Austin. Securing a loan from branch is simply basic and automated. You basically download the app, create your personal account, apply for a loan that meets your requirement and you receive your loan into your account after approval.

Additionally, Branch works on other countries such as Kenya, India and Mexico. You can also install the branch app via Google play store.

3. Lcredit

Lcredit was founder 2019 by Akinwande Ademosu. Their app doesn’t really have a very good user interface but the interface gets the job done. Lcredit is also affiliated to cashigo international ltd, they are one of the fastest when you talk of loan approval and disbursement.

People question if Lcredit is legit because of how easy it is to get a loan offer approved on Lcredit. Nevertheless, by my opinion it is very legit, although Lcredit has a way of persistently disturbing clients either to take or pay back loans.

You can also get this app via the Google play store.

4. Carbon

Carbon was founded in 2012 by two brothers Chijoke Dozie and Ngozi Dozie. It was founded as a digital lending market but now they offer a range of service, ranging from payment and transfer of funds to investment of funds.

You can build your credit score on the app you get better chances of getting higher loan and lower interest rate, they are indeed reliable. Carbon app was formally called PAYLATER app but later on adopted a new name.

you can get this app by installing on play store or installing directly from the site

5. RenMoney

Founded by Tobi Boshoro in 2012, initially under the name RenCredit, but changed to RenMoney as at December 2013. They also render savings account services and the have moderate interest rates.

Including your bank details or statement boosts your chances of securing higher loans on this platform. You can get this app via Google play store.

6. Opay loan (Okash loan)

Opay which was founded in 2012 is owned currently my the noble Opera. This app originally was created to render various services ranging from food delivery, cab services and various others.

Okash is a branch from Opay, most Nigerians are confused as to the partnership involved. You can get the Okash app via Google Playstore or through the Opay app.

7. Aelle Credit

Aella was founded in 2015 by Akin Jones and Wale Akanbi. Basically you can get your loan approved once you can prove your source of income. Either through your employee or through individuals who can vouch for your source of income stated during your application.

One thing to note about this platform is that if your details filled aren’t co-related it makes it difficult to get your loan approved cause the app is automated and very sensitive to information shared to them. You can get the app also via Google play store.

8. Xcredit

Well Xcredit is yet to announce a owner or founder yet on any of their social media platform but they function as well as others. Some might say Xcredit is similar to Okash, true I might add, whereas Xcredit interest rest seems to be a bit higher than some other of these loan platforms.

You can access the Xcredit app through the Google play store app.

9. SokoLoan

SokoLoan is another promising app with nice and affordable loan interest rate. All you need do is to build your credit score by paying on time so as to get better time limits on your loan and better offers as well.

Although personally I would be wary of this platform after recently being fined 10 million naira. Rumor has it that the company might be shutting down soon. You can also get the app installed on your mobile device through the Google play store app.

10. Palm Credit

Palm credit is owned by Newedge Finance Limited, PalmCredit is simply among 1 of the best and still developing platform. I myself have found myself in need of their services and I had no complaint or issues during my time on this platform.

You can get loan offers ranging from 2,000 to 100,000 naira depending on your credit score. You can get the palm credit app directly on play store for instant download.


Well, while it is pretty easy to access nice loan offers from these apps listed. Please do ensure you take out time to study the terms and conditions attached to these platforms before taking these loans.

This is because most of these platforms have some ridiculous means in recovering overdue loans, ranging from texting and calling you or selected contacts.

loan is something we can all admit we found ourselves wanting at a point in time, whether from a loan app or individual loan from a colleague. But if we you ever are in need of a quick and urgent loan these tips I have listed would be incredibly helpful in one way or the other.

I hope you found this article insightful, if you did, you should also see the top 10 best banks in Nigeria.

Leave a Reply

Your email address will not be published. Required fields are marked *