Top 7 loan apps in Nigeria to get a quick loan without collateral (2024)

As a business person or an individual, there will be times when things might get a little bit hard and there will be a need to look for an emergency fund. It could be money to meet personal needs or business needs. In the past, it was almost impossible to access an emergency loan in Nigeria. But these days, there are many loan apps in Nigeria where you can get a quick loan from without collateral.

All you need is to download and install their app on your phone. And you can get a loan. Most often without any paperwork.

How do loan apps work?

Loan apps work in this way: You download the app from your app store. Install it on your phone. open the app, register with your correct details, and any document needed. Your credit score will be calculated and you get a loan offer. Once you accept the loan, it will be credited to your account. You will have to pay back your loan before or by the due date.

The majority of the loan apps in Nigeria do not require collateral or guarantors. So you do not need to worry about that.

Loan apps are very useful for emergencies. When you need an emergency loan, all you need is to open the loan app and apply for a loan. Most loan apps work 24/7.

You may need money for house rent, school fees, travel, or business. Loan apps will always be resourceful in times like that. It is very advisable to have one or two installed on your phone. Because you never know when you may need it. There are loan apps available for Android, iOS, Blackberry, and Windows phones.

Advantages of using loan apps

There are many advantages when you should use loan apps instead of regular money lenders.

  • Loans without collateral
  • 24/7 accessibility
  • No paperwork required
  • Flexible payment options
  • Always on your phone ready to use

Overview of loan apps in Nigeria and their offers

Loan appOffer
Carbon (Paylater)Up to ₦1 million
FairMoneyUp to ₦2 million
PalmcreditUp to ₦100, 000
BranchUp to ₦200, 000
Aella creditUp to ₦100, 000
QuickCheckUp to ₦200, 000

Top loan apps in Nigeria to get a quick loan

Here are the top loan apps in Nigeria to get a quick loan without collateral:

1. Carbon (Paylater)

Carbon formerly known as Paylater is one of the top mobile phone loan apps available in Nigeria. It is easy to use and you can get a loan quickly without much delay. You can get a loan of up to ₦1 million from this app

It does not require a collateral or guarantor to get a loan from Carbon. All you have to do is download the app into your phone. Register with your accurate details and then apply for a loan. The app is fast, you may get a loan offer in a few minutes.

They charge a flexible interest rate from 5% to 15% depending on the amount and repayment period.

You can pay back your loan easily from the app using your ATM.

For android and iOS users, you can download the carbon app from the Google play store or the app store.

Read more: How to get a loan from Carbon (Paylater)`

2. FairMoney

With the FairMoney app, you can get a loan of up to ₦150, 000 with just a few clicks. It is fast, easy, and secure. This app is one of the most downloaded loans app in Google Playstore.

All you have to do is download the app, and install it on your phone. Then you can proceed to sign up with your Facebook account or with your phone number. Then you answer a couple of questions. After that, you will be sure to get a loan offer.

Once you get an offer, accept it and the money will be credited into your bank account. It is that easy.

They have a flexible interest rate. You can pay back your loan installmentally for up to 3 months.

You can download the FairMoney app from the Google play store to access their service. This app is not available for iOS, Windows, and Blackberry.

Read: How to get a loan from Fairmoney

3. Palmcredit

You can get an instant loan of up to ₦100, 000 from the Plamcredit app. This app is very popular among Nigerians. It is easy to operate and use. Typically, loan applications are approved in about 5 minutes.

All you have to do is download the app and install it on your phone. Open the app, register and apply for a loan, get approval and receive the money.

The interest rate is from 14% to 24% depending on the tenor and amount. You can loan for a duration ranging from 91 days to 180 days. You do not need collateral or a guarantor.

To access the loan, you can download the Palmcredit app from the Google play store.

Read: How to get a loan from Plamcredit

4. Branch

Branch is one of the top loan apps in Nigeria. With a branch, you can get up to ₦200, 000 loan from your phone without paperwork or collateral.

All you have to do is download the app, and create an account. Then apply for a loan and you get your loan. It is that easy.

The loan term is from  4 to 64 weeks. And the interest rate ranges from 14% – 28%.

These app has been featured in Forbes, Bloomberg, and more.

You can download the Branch app from Google Play Store

Read: How to get a loan from Branch

5. Aella credit

Aella credit is a mobile loan app that gives loans up to ₦100, 000 without collateral and paperwork. It is highly secure and quite popular.

To get a loan, simply download and install the app. Then you register. Fill the application form. And you can receive a loan without much delay.

The loan tenor is 30 to 60 days. And the interest rate varies from 4% – 29%.

You can download the Aella credit mobile app from the Google play store.

Read: How to get a loan from Aella Credit

6. QuickCheck

QuickCheck is a very popular mobile loan app in Nigeria that gives up to ₦200, 000 instant loans without any hidden charges.

To access a loan you need to download and install the app. Give it permission to access your phone data in order to make you an offer. Apply for a loan and once approved, you get the money in your bank account.

If you forget passwords too easily, with QuickCheck, you can login with your Facebook account.

Read: How to get a QuickCheck loan

7. Kiakia

Kiakia is a web app that gives online loans to Nigerians. You can get loans instantly by just answering a few questions.

Kiakia uses a different method to give its loan. You will need to access the web app and chat with Mr.Kiaia, a chatbot. Then you get your loan!

To get a loan, you can use your Android phone, iOS, Windows, and Blackberry to access the Kiakia Web app and chat with Mr. Kiakia.


Loan apps make it easy to get emergency loans without collateral. But users must be careful to use only legitimate apps listed on the Google Play store and Apple App Store to avoid getting into the hands of bad actors.

Carbon is widely regarded as the best loan app in Nigeria by experts and borrowers. They offer a competitive interest rate and most importantly, they have strong investor backing with over $15 million invested. They do not harass borrowers with calls and threats like loan sharks in Nigeria.

To get an instant loan, you need to download and install a loan app. If you are an existing user, if you are new, then create an account. Once you have created an account, you can apply. Note that a good credit score will play a big role in accessing instant loans.

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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

Articles: 172


  1. I need a loan of #200,000 to start my paint business I can produce gloss, emulsion, texcote flexcote,satin, Matt paint. [Removed]

  2. I need 200 000 Thousand to enable me to start my business and I promise to pay back in due time given to me. I will be grateful if my request will be granted.

  3. I need a loan of 1.5 million so that I can expand my business.
    If you give me this loan I promise to payback

  4. Quick way to get a loan of between 50k to 1 million naira within 24hours.
    * Open a Polaris bank account with your phone using USSD code.
    * Fund the account yourself with N3,500 so that the account can be active.
    * Withdraw your N3,500 out of the account immediately.
    * Apply for a loan of 50k to 1 million naira
    * Receive the loan within 24 hours into your new Polaris bank account.
    * You can choose to continue using the Polaris account or not if you like.

    I’m not collecting any fee for this. It’s completely free. The offer won’t last for long so take advantage of this offer if u need an instant loan within 24 hours.
    Chat me up on WhatsApp if you are interested.

  5. This is great, from my own review, Carbon, branch, palm credit is very good. I’m even seeing some other ones here, i will try them out. Thank you for sharing this, it has really been helpful.

  6. I need a loan of 200,000 to start a wonderful business, I promise I will pay back according to the time they give me

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