In Nigeria, there are many popular loan apps that offer instant collateral-free loans to interested borrowers. Most of these loan apps have been operational for years with millions of active users. Some of these loan apps allow borrowers to access up to ₦5 million with a flexible repayment plan and competitive interest rate.
Some of the top loan apps in Nigeria are FairMoney Loan App, Carbon Loan App, Branch Loan App, Renmoney Loan App, Okash Loan App, etc. If you need an instant loan to meet your urgent financial needs, you can apply for a loan in any of these loan apps.
Accessing loans through these loan apps is always easy because there is no paperwork required and the loan disbursement is always swift too, as long as you meet the requirement. However, it is important to note that some of these loan apps charge processing fees and late fees; hence, if you are securing a loan from any of these loan apps, ensure that you understand the loan terms and adhere strictly to them.
Best Loan Apps in Nigeria without Collateral
There are many loan apps in Nigeria where interested individuals can access instant loans to meet their urgent financial needs. Most of these loan apps allow Nigerians to access loans without collateral. We are going to discuss them one after the other.
1. FairMoney Loan App
This is one of the popular loan apps that offers instant loans to Nigerians without collateral. Accessing a loan from FairMoney is not difficult since there is no endless paperwork. Once you apply for the loan, it will be disbursed to you in a few minutes.
Loan Amount: up to ₦3 million
Interest Rate: 2.5% to 30% monthly
Repayment Plan: 61 days to 18 months
Processing Fee: 3-15%
According to play.google.com, over 10 million people have downloaded the FairMoney app and it has 4.4 star ratings out of 5 from 778,000 reviews as of March 2025.
2. Carbon Loan App
Carbon is another top loan app in Nigeria that offers collateral-free loans to users. This loan app has been operational in Nigeria for years. Their loan disbursement is always fast. Their requirement is also flexible. There are no hidden fees in this loan app.
Loan Amount: Ranges from ₦2,500 to ₦1,000,000
Interest Rate: 4.5% to 30% monthly
Repayment Plan: 61 days to 12 months
According to play.google.com, Carbon Loan has 4.0 ratings out of 5 from over 166,000 reviews. In the same vein, we also found out that as of March 2025, over 5 million users have downloaded the Carbon Loan app.
3. Branch Loan App
When it comes to loan apps in Nigeria, Branch is always among the top players. Branch is an international loan app with branches across different countries globally. They give out unsecured loans to interested borrowers. Their loan term is flexible when compared to others. Accessing a branch loan is quite simple because there are no endless protocols.
Loan Amount: Ranges from ₦2,000 to ₦1,000,000
Interest Rate: 17%–40% monthly
Repayment Plan: 4 to 40 weeks.
Our check on play.google.com revealed that Branch is rated 4.5 stars out of 5 from over 2 million reviews. Additionally, we also find out that as of March 2025, more than 10 million people have downloaded the app.
4. Renmoney Loan App
Another top loan in Nigeria on our list is the Renmoney loan app. Just like other loan apps discussed above, Renmoney also offers collateral-free loans to their users to enable them to meet their financial needs. The loan disbursement is always swift.
Loan Amount: Ranges from ₦5,000 to ₦1,000,000
Interest Rate: 2.12% to 2.65% monthly
Repayment Plan: 91 days to 12 months
According to play.google.com, the Renmoney loan app has over 1 million downloads with a 4.0 star rating from over 30k reviews as of March 2025.
5. Okash Loan App
This is another popular loan app in Nigeria that gives out loans to interested Nigerians. Blue Ridge Microfinance Bank Limited manages the Okash loan. Securing an Okash loan is not difficult as long as you meet their requirements. They don’t charge hidden fees and their loan terms are relatively flexible and there is no endless paperwork either.
Loan Amount: Ranges from ₦3,000 to ₦1,000,000
Interest Rate: 3% to 15% monthly
Repayment Plan: 91 days to 365 days
According to play.google.com, over 10 million users have downloaded the app from their store. It also has a 4.4 star rating out of 5 from over 252,000 reviews as of March 2025.
6. PalmCredit Loan App
Another top loan app in Nigeria on our list is the PalmCredit loan app. This loan app is owned by Newedge Finance Limited. Securing a loan from PalmCredit is not difficult since there is no paperwork required. Once you meet their minimal requirement, they will disburse your loan amount to your designated account.
Loan Amount: Ranges from ₦2,500 to ₦100,000
Interest Rate: Variable
Repayment Plan: 12 to 26 weeks.
From play.google.com, we found out that over 10 million users have downloaded this loan app. It also has a good rating of 4.2 stars out of 5 from more than 189,000 reviews as of March 2025
7. Aella Credit Loan App
When it comes to loan apps in Nigeria, Aella Credit is always among the top players. This loan app has been in existence for years doing what they are best at—offering collateral-free loans to Nigerians. You don’t need paperwork to access the loan; hence, the loan application process is swift and straightforward.
Loan Amount: Ranges from ₦2,000 to ₦1,500,000
Interest Rate: 2% – 20% monthly
Repayment Plan: 61 days to 365 days
Our check on play.google.com revealed that the Aella Credit Loan app has been downloaded by over 1 million users with 3.3 star ratings out of 5 from over 35k reviews as of March 2025.
8. EaseMoni Loan App
We can’t discuss the top loan app in Nigeria without discussing the EaseMoni loan app. This loan app is popular because they are known for offering instant collateral-free loans to Nigerians. There is no paperwork required to access this loan. In addition, they have flexible loan terms when compared to other loan apps in the country.
Loan Amount: Ranges from ₦3,000 to ₦1,000,000
Interest Rate: 5% to10% monthly
Repayment Plan: 91 days to 365 days
According to play.google.com, the EaseMoni loan app has over 5 million downloads with 4.6 ratings from over 295,000 reviews as of March 2025.
9. Quickcheck Loan App
This is another top loan app on our list. As the name implies, they offer quick collateral-free loans to Nigerians without the need for paperwork. This means that interested borrowers can access loans from this app with a rigorous check. The loan disbursement is always within a few minutes.
Loan Amount: Ranges from ₦1,500 to ₦500k
Interest Rate: 1% to 21% monthly
Repayment Plan: 91 days to 365 days
According to play.google.com, the QucikCheck loan app has over 1 million downloads with a 4.5 star rating out of 5 from 206,000 reviews as of March 2025.
10. Xcrosscash Loan App
Although new, Xcrosscash is one of the fastest-growing loan apps in Nigeria that offers unsecured loans to borrowers. This loan app is owned by Newedge Xcross. They are known for swift loan disbursement and flexible loan terms.
Loan Amount: Range from ₦10,000 to ₦50,000
Interest Rate: 4% to 4.7% monthly
Repayment Plan: 91days to 180days
From our check on play.google.com, we found out that more than 1 million users have downloaded the Xcrosscash Loan App from the Google Play Store. As of March 2025, this loan app also has a 4.3 star rating from over 36,000 users who reviewed it.
11. Specta Loan App
This is another top loan app in Nigeria on our list. This loan app allows users to take instant loans without collateral. The loan application process is always seamless because there is no paper work required. However, to secure a loan from Specta, you will need to pay a one-off management fee of 1% of the loan amount. It didn’t stop there; if you default on your loan, you’ll be charged a penalty fee of 1% of the amount you borrowed. Sterling Bank offers the specta loan.
Loan Amount: Up to 5 million naira
Interest Rate: 25.5%-28.5% monthly (relatively high)
Repayment Plan: 1 to 12months
According to play.google.com, over 10,000 users have downloaded the Specta loan app. The loan app has a 4.0 star rating from over 500 reviews as of March 2025.
12. WeCredit Loan App
Wecredit Loan App is another top loan app in Nigeria. Wecredit offers collateral free to borrowers without hiding charges. There is no paperwork required to access a loan from this app; hence, the loan application is seamless and loan disbursement is also swift.
Loan Amount: Ranges from ₦10,000 to ₦200,000
Interest Rate: 10% to 30% APR
Repayment Plan: 3 month to 60 months
The Google Play Store revealed that the WeCredit Loan app has been downloaded by over 100,000 users. However, as of March 2025, WeCredit doesn’t have verifiable reviews.
13. Newcredit Loan App
This is another popular loan app in Nigeria. They have been in the business of offering collateral-free loans to Nigerians for years. Their loan term is relatively flexible but their loan amount is relatively small for those who want to borrow a huge amount of money.
Loan Amount: Ranges from ₦10,000 to ₦300,000
Interest Rate: 24% to 56% annually
Repayment Plan: 91days to 365days
As of March 2025, our check on play.google.com revealed that the NewCredit loan app has been downloaded by over 5 million users. We also saw that the app has a 4.3 rating out of 5 from over 74,000 users who shared their reviews about the app.
14. Page Financials Loan App
Page Financials also offers instant collateral-free loans to interested borrowers. Securing a loan on the Page Financials loan app is not difficult since you are not required to submit your documents before you can access the loan. Their loan term is flexible, although it is variable too.
Loan Amount: Ranges from ₦200,000 to ₦5,00,000
Interest Rate: Variable
Repayment Plan: Variable
According to play.google.com, over 100,000 users have downloaded this app. As of March 2025, the Page Financials loan app has a 4.3 star rating from over 1,400 users who shared their reviews about the app.
Other top loan apps in Nigeria are:
- Kiakia
- Sokoloan
- Umba
- MoneyPal
- Xcredit
- KoboGo
Conclusion
There are many top loan apps in Nigeria that offer instant collateral-free loans to interested individuals. Securing loans from these apps is always easy because the application process is often seamless. If you need an instant loan to meet your urgent financial needs, you can check any of the loan apps that we discussed above.