Best 25 Loan App In Nigeria With Low Interest Rate (How to apply)
Follow us as we explore the top and best 25 loan apps in Nigeria with a very low interest rate.
Hello readers! Are you looking for how to get a quick loan using your smartphone in Nigeria? Worry no more!
Don’t panic at all because your next loan is a few taps away from this post.
These Nigerian best top 25 loan apps have you in mind especially with collateral-free loans.
Also we will unveil to you the best rates and terms you can find for loans in Nigeria apps be it as it may.
Basically, you can get money in a few minutes in Nigeria using this amazing loan app that have low interest rate.
But let’s be sincere, the interest rates on loans in Nigeria can be better for borrowers and we hope it does later than expected.
Nevertheless, the major top 25 loan apps in Nigeria with the best interest rates are Carbon, FairMoney, Branch, Migo, Palmcredit, Alat App, and Specta loan.
These trusted and reliable 25 loan apps and lending platforms require no over-the-top documentation or collateral at all.
Nevertheless, you can always go for loans using any one you like, apply and get the loan credit to your account without delay.
Best Top 25 Loan Apps in Nigeria With Low Interest (Major ones);
Anxious of how to get started and find the most reliable loan app to borrow money from quickly and pay back later?
Worry not, Here are the best top 25 loan apps in Nigeria with their low interest rate.
1. Carbon Loan App
Carbon not for carbon monoxide! is a digital bank that not only gives you access to loans at difficult times.
However, the also provides necessary options for investment, which allows you to send and receive money, pay bill etc.
To get started with Carbon Loan application, first, you have to download the Carbon app from the Play Store.
You are to do this basically if you’re not there customer or haven’t download the app already.
After you must have downloaded the app, carefully apply for a Carbon loan by submitting all the necessary details.
These details that’s required by you including your NIN, BVN and based on the provided information, the loan amount will be calculated and approved for your usage and pay back later.
Carbon loan repayment is simply, on or before your ideal date for repayment, all you need to do is simply fund your Carbon.
Add money to carbon wallet via bank transfer or the USSD option on the app and do your payment at ease.
2. FairMoney Loan App
FairMoney loan app is there for you, you can basically access loans in just five (5) minutes.
You can as well get your personal loans of up to N3 Million Naira from Fairmoney directly from your mobile phone.
Yes, you can get fast solf loan for up to 2 months (2 years) from fair money at competitive and low interest rates.
Here are all that is required to get loan from Fairmoney loan app;
Bank verification Number (BVN)
First, you need to bring proof of employment (Self-employed, Salary, Student, Entrepreneur or Business).
Your four weeks or monthly income of a minimum salary of ₦10000 at bar.
Good Credit History or record even if you are on an existing loan let it be performing.
For more information on loan requirements on Fairmoney, Navigate through Fairmoney app for better understanding.
3. Branch Loan App
Beyond borrowing Branch remains top notch and the main reason Branch is on this list of top 25 loan apps in Nigeria is its longevity, flexibility and dependability.
However, Nigerians have been using Branch loan platform for a long time to assess quick and soft loans.
You can get a loan as low as ₦1,000 Naira and as high as ₦200,000 from Branch loan app.
This Branch loan app has no late/rollover fees just like other loan app does.
Branch monthly interest rates ranges from 3% to 21%, and an annual Interest range of 15% to 34% respectively.
For more detailed information on how to access Branch loan and pay back, kindly check out the Branch website or app.
4. Migo Loan app
The Migo loan platform was formerly Kwikmoney, the app is a very popular loan company in Nigeria just like Moniepoint.
Basically, you can receive a mobile loan in Nigeria as high as N500,000 with Migo in less than 2 minutes in Nigeria as we speak.
However, morethan N40 billion Naira has been borrowed from Migo loan platform.
The interest rate for a Migo loan application is usually seen as low as 5 % to 15% at most.
5. PalmCredit loan app
PalmCredit is one of the best loan app in Nigeria, they are very popular loan app among Nigerians just like Carbon.
The Palm credit basically offers instant loans of up to ₦300,000 and above depending on your eligibility.
However, the amount of time for paying back a Palmcredit facility is usually between 91 days to 180 days as the case may be.
Interest Rate for Palm credit is usually between 14% to 24% at most.
Above all, this implies that if you apply for a 6-month loan of ₦100,000, the total repayment amount is ₦124,000 without otherwise.
The PalmCredit loan platform is ready for download in Playstore for Android users.
However, you can also check any of the PalmCredit social media platform for more details on the process.
6. Alat Loan app
The Alat loan platform app is a Wema bank PLC product that allows you to instant loans without paperwork like other banks.
They will always give you reasons to avoid the need to visit the bank branch to request for loan.
Be it as it may, you can always borrow as high as ₦2,000,000 from the ALAT app and pay back in due time.
Above all, the Alat loan platform is easy to download on Google Play or the App Store for Android users.
You can also have loads of information on the Alat website or the app respectively.
7. Specta loan app
One of the reasons the Specta loan app made it to the 25 best loan app is because of their effectiveness just like Alat.
The Specta loan platform is owned and managed by Sterling Bank, a commercial bank in Nigeria just like wema owns and manage Alat.
Getting a loan from Specta doesn’t need any form of collateral, guarantor or bank paper work visitation.
In fact, irrespective of your work, bank or occupation, you can freely access a Specta loan amount of up to five million (₦5,000,000).
The Specta loan app by Sterling bank PLC can be easily downloaded on Playstore and they have other interesting packages for their customers.
Best 25 loan apps in Nigeria with Low Interest rate (Minor One’s);
Here are the complete list of Best 25 loan app in Nigeria with their low interest rate.
Nevertheless, the minor top 25 loan apps in Nigeria with the best interest rates outside the major one’s are;
Easemoni loan app
Okash loan app
Palmpay loan app
Aella loan App
Umba Loan app
Payforce loan app
QuickCheck loan app
Baxi Fintech loan app
P2vest loan app
OPay loan app
Jumiapay loan app
Page Financials loan app
Blocka Cash loan app
Kuda, kredi loan app
Yescredit loan app
Moniepoint loan app
Irorun loan platform and
LAPO Microfinance loan application.
Check outs
How to open Opay account without BVN and NIN
Opay physical office or branches across the 36 state of Nigeria
Moniepoint Agents Login portal
How much is Moniepoint Microfinance bank POS in Abuja
Another name for Moniepoint Mfb