Top digital banks in Nigeria (2024)

Digital banking is the offering of banking services online. With digital banks, you are able to perform banking transactions easily online without the need of a physical bank. Digital banking in Nigeria is on the rise, with many of them offering juicy benefits that you may not get from regular banks.

There is a difference between internet banking and digital banking. While internet banking provided by banks can help customers complete transactions, digital banking is deeper than that. The core focus of digital banking is to digitalize every aspect of banking without the need for a physical structure.

If you hate long queues then digital banking will be suitable for you. You will be able to open an account and carry out all transactions from the comfort of your home. You will get an ATM card and most of the services you enjoy from regular banks.

One advantage of using a digital bank is the interest rate on savings and fixed deposits. It is usually higher than those offered by banks. This is because digital banks don’t spend money on too many large staff and facilities, so they are able to offer bigger interest rates.

If you are concerned about safety, all major digital banks in Nigeria are regulated by the Central Bank of Nigeria and they also have deposit insurance. Deposit insurance protects customers’ money just in case something goes wrong.

Recommended: Best banks in Nigeria for personal and business banking

Top digital banks in Nigeria

Here are the best digital banks in Nigeria:

1. V by VFD (Vbank)

V bank

V by VFD, also known as Vbank, is the leading digital bank in Nigeria. It is owned by VFD Microfinance bank, who is a member of the VFD Group.

Users can open an account as fast as two minutes without any paperwork required. They offer very impressive interest rates on savings.

The amazing thing is that users can become agents who are known as Veelagers, and make money referring people to the bank.

Key features of Vbank:

  • Open an account in 2 minutes
  • No paperwork required
  • You will be given an account number
  • Cardless withdrawal
  • Fixed Deposit
  • Budgeting
  • Loans
  • Target savings
  • Business products
  • And more

Vbank available on Google Play Store and Apple app store. Remember to use 4PEYE as your referral code.



ALAT is Nigeria’s first fully digital bank. It is owned and operated by Wema Bank. It is very easy to use and has lots of features. You can open an account with just few clicks.

There is no paperwork required to open an account. All you need is a phone number and BVN. Other information needed are things like your name and address.

Key features of ALAT:

  • Open an account in a few minutes
  • No paperwork required
  • You will be given an account number
  • Savings
  • Transfers and payments
  • Instant loans
  • Business products
  • Virtual dollar card
  • And more.

ALAT is available on Google Play store and Apple app store.

Recommended: 10 Best microfinance banks in Nigeria

3. Kuda

kuda bank

Kuda bank is a up there among the best digital banks in Nigeria. It is owned by Kuda Microfinance Bank (RC796975) and pride itself in being the bank of the free.

They take pride in offering for free, things that regular banks will charge customers for. They offer free ATM cards and free transfers. These are things you pay for with a regular bank. Kuda does not charge card maintenance fees.

Key features of Kuda:

  • Open an account in minutes
  • No paperwork required
  • You will be given an account number
  • Free debit card
  • Free withdrawal
  • No card maintenance fee
  • Savings
  • Loans
  • Budgeting
  • And more

Kuda is available on the Google Play Store and Apple app store. Remember to use EHREDWD4 as your referral code.

4. Rubies


Rubies offer a good personal and business digital banking experience. With a very easy to use app that is available for Android and iOS, customers can tap into the amazing offerings of Rubies.

They are highly rated and trusted. When opening an account, you have the freedom to choose your account number. This will help you customize how you want your account number to look. Maybe use your birthday, phone number or any number that means something to you.

Key features of Rubies:

  • Open an account in minutes
  • No documentation required
  • Customize your account number
  • Savings
  • Virtual card
  • Pay bills
  • Business banking
  • Rubies insurance
  • Money request
  • Loan
  • And more

Click here to get Rubies and open an account.

5. OneBank


OneBank is a digital bank that is owned and operated by Sterling Bank. The process of opening an account is simple and easy for non-tech savvy people.

It has an interesting feature known as “Ajo scheme.” Which is a way to invite your friends to start a contribution. Ajo is very common in major cities in Nigeria.

Key features of OneBank:

  • Open an account in minutes
  • No paperwork required
  • Savings
  • Invest money
  • Borrow money
  • Bills payment
  • Airtime and Data
  • Ajo Scheme
  • And more

OneBank is available on the Google Play Store and Apple app store. Remember to use MfonE013 as your referral code.

6. Sparkle


Sparkle is a digital bank with lots of promises on ease of payment and transactions. The man behind Sparkle is Uzoma Dozie, the former CEO of Diamond Bank which is now Access bank.

They have many amazing features that will make life comfortable for customers. You can split bills with family and friends. You can find a breakdown of how you spend your money and many more.

Key features of Sparkle:

  • Open an account in minutes
  • No paperwork required
  • Savings
  • Physical and virtual cards
  • Sparkle Stash
  • Request money
  • Breakdown of spending
  • And more

Sparkle is available on the Google Play Store and Apple app store. Remember to use 1ZFRDE as your referral code.

7. Eyowo


Eyowo is a very innovative digital bank with lots of amazing features. The account opening process is made very easy and stress-free. With your phone number, you can open an account in minutes.

There are many interesting features. Customers can borrow money at 0% interest rate. That is very rare in the banking world.

Key features of Eyowo:

  • Open an account in minutes
  • No paperwork required
  • Zero percent interest rate loan
  • Savings
  • Scan to pay
  • Dollar cards
  • Debit cards
  • Cardless ATM withdrawal
  • Pay bills
  • And more

Eyowo is available on the Google Play Store and Apple app store. You can also use the Eyowo USSD code: *4255#

Recommended: 10 Best Virtual Dollar Cards In Nigeria

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Editorial staff

Editorial staff is a platform that connects people with ideas, opportunities and latest trends in personal finance growth online and offline. It is the most read personal finance platform in Nigeria

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