Top 3 Loan apps in Nigeria

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The world is fast changing, who would ever imagine there will come a time when loans can be taking without collateral in Nigeria.

Are you just hearing this for the very first time? Do you still think that isn’t possible? Relax as you are yet to hear of it all.


Top 3 Loan apps in Nigeria


Most times, we are faced with times which present us with the need to take a loan. It’s normal but the idea of how lengthy the process can be in securing loans from banks quickly scares us away.


Probably you needed that cash and you ended up not getting it because you weren’t sure to get collateral.


Yeah! I know how troubling and painful such situations can be. I’ve been there before.

Earth will definitely be a better place soon, as lots of efforts are constantly put in by people to making things easier.


With the increase in internet penetration and use of mobile devices in Nigeria, more entrepreneurs in Fintech Industry and banks have explored ways to reach a wider audience by leveraging in mobile apps.


Apps!!! Apps!!! Apps!!!


Do you think there’s still some task which an app hasn’t be made for? Are you really thinking? Hitting Google play store for a search, I bet results will wow you.


Yes, loans too aren’t excluded in these innovative moves in developing apps. There are lots of apps made specifically for you with convenience ranked as a priority, which you can use in getting loans to trash out that problem blocking your way.


These apps are all unique in their ways but would like to introduce you to the top three of them all, that enables you get a loan in the shortest possible time.




Paylater now know as Carbon, is a loan app in Nigeria that lets you control your finances just with very few clicks.


This online lending platform helps/supports its users with short term loans to cover unexpected expenses or pressing cash needs.

Paylater not minding the change of name to Carbon is the same app with better services and has simple options that enables you collect loans easily without stress.




If you’re in need of a loan and have decided to get the loan through Paylater (Carbon), here is a rundown procedure to perform that task of yours.

Hit their website by clicking here.

Fill out a registration form, which also contains the amount to be borrowed.

Read their terms and conditions thoroughly, to have an insight of how they operate.


Next, you will get a confirmation message whether you’re qualified for the loan or not.



Loan approval takes up to three (3) working days.

The minimum and maximum amount a person can borrow is 1,000NGN and 10,000NGN respectively, for a first loan.

You’re entitled to pay in 30 days with an interest of 1% per day.


The sooner you pay back the loan, the more chance you will get to acquire bigger loan amounts.


Paylater loan is available for almost any individual that receives money on monthly basis and has to be proven by either of these; I. D Card, statement of account, employment letter and many more.




Paylater is now available on Android, Black berry and iOS. The procedure to get this app installed in your mobile is very easy. Here’s what to do;

Go to your phone’s app store, then

Search for Paylater.

Click on the download field provided and then wait for it to install.

Next, click on open, to access the app.



Of course, courtesy demands one pays back after taking a loan. Paylater isn’t a charity platform, so there exist a payback procedure.

The condition for the loan, demands you pay at a time set by Paylater. If you wish to repay the loan on or before the due date, all you need do is click on “PAY NOW” button and then press “check loan status”.



palm credit

Palm credit is another unique platform with loan app, owned by Transsnet Financial and operates in Nigeria.


Users of this product can apply for a short-tenor cash loan of 7days/14days using their personal credit limit.

Palm credit has a referral program which one can use to boost limits for loan.



It is fast.

It has loan interest rate of about 14% to 24%.

Palm credit has a loan limit range from 2,000NGN to 100, 000NGN.

Loans duration ranges from 91days to 180days.

You can apply for your credit limit in minutes, and then as many instant loans as you need without another approval steps.

A credit revolution it is, as your credit score is updated when you repay.

Its referral program is always there to help you secure higher loans.

To get the app, you can search on your phone’s play store or click here.




Branch loan app has overtime been proven to be very fast and easy to help customers secure loan. One can get funds same day a registration was made. That’s how fast Branch can be.


Branch service is credit. Branch uses technology to dramatically reduce the cost of delivering financial services in emerging market

You can unlock large loans as you complete your loan payments with Branch. To get the app, you can search on your phone’s play store or click here.



We restricted this post to the top three loan apps in Nigeria but to lay a hand on others we’re going to give you a list to check them out.

Aella credit

Fair Money


Quick Check

Kwik money


GT mobile loan app.



The various services which these loan apps perform include;

  • Instant cash loans.
  • Recharge airtime
  • Transfer money
  • Pay bills
  • Invest money and so on.


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Imaeruaka Joseph .N

Imaeruaka Joseph .N

I believe in sharing wisdom with others. Utilizing life to its maximum and blogging is a call for me . Who is Imaeruaka Joseph? Imaeruaka Joseph also known as Inbuilt-Wisdom JIN, is an indigen of Amesi town, in Aguata local government area, Anambra state. Skills? 1. Copy writer (specialty; sales copy) Currently works with Sky blazer ventures, Niger standard industry ltd, Azodo fish farm. 2. Content creator (short stories, articles, memes and poems) Currently works with Andora Novella, Tis foundation and Medium. 3. Author at Amazon (kindle direct publish) Imaeruaka Joseph up to date has six books published on Amazon. -Marriage forum -Wisdom from its inbuilt -The Compile -Did i have sex? - a memoir -Maintenance of some basic electrical components -The poem stream. Reach out to me via email, [email protected]

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