Legit Loan Apps in Nigeria 2024 (Updated List)

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Are you looking for the Top 10 legit loan apps in Nigeria?, you are in the right page. in this article, we will discuss the best loan apps in Nigeria, loan requirements and how to get instant loan from this apps.

What are Loan Apps?

Loan Apps are fintech apps that enables people to apply and receive loans on their mobile phones. loan app saves effort, cost and time involved in obtaining the loan. Also, loan mobile app does not need any collateral, guarantor or paperwork to approve loans.

Features of Legit Loan App in Nigeria

The following are some of the features of loan app;

  • 24/7 access to loans.
  • Low interest rates on loan (2.4% per month)
  • Get instant loan within 5 mins.
  • Apps are user friendly.
  • Easy to access loan.
  • Easy eligibility requirements.
  • Minimum processing fees.
  • No hidden charges.
  • Complete transparency.

Top 10 legit loan apps in Nigeria

Legit Loan App Eligibility Requirements

The followings are some of the requirements to be eligible for instant loan;

  • You must be 18 years and above.
  • You must be a citizen of Nigeria.
  • You must have an account with any Nigeria banks.
  • You must have a government issued ID (voters card, driver’s license, National ID etc.).
  • You must have Bank Verification Number (BVN).
  • You must have a smart phone and a working phone number.
  • You must have proof of income.
  • You must have acceptable credit history.
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How to Apply For Loan App in Nigeria

If you are a citizen of Nigeria, you need quick money to settle emergencies and you have a smartphone?.  Follow the steps below to get instant loans from any of the money lending apps mentioned below;

  • Go-to to Appstore and download the preferred app for free.
  • Install and Sign up to create an account.
  • Apply for a loan in less than one minute.
  • Credit scoring using their algorithm will be carried out (no collateral needed).
  • If you are eligible, the cash loan will be credited into your registered account within few minutes. Sometimes it takes longer depending on loan company.

If you are not eligible, please apply again.

Top 10 Legit Loan Apps in Nigeria

The following are approved list of Top 10 Legit loan apps in Nigeria with low interest rate;

  • ALAT by Wema
  • Branch
  • FairMoney
  • PalmCredit
  • Carbon
  • Kuda
  • Okash
  • QuickCheck
  • KiaKia
  • Aella Credit

Top 10 Approved Loan Apps in Nigeria 2024

Alat by Wema

Alat by Wema is one of the top loan apps in Nigeria. They presently have over 1 million downloads and give quick loans with a repayment period of 15-30 days. Their loans are accessible via the Alat app and requires no paperwork or collateral. they are known for their fast and instant loan approval.


Branch is a top lending app and one of the most downloaded loan apps in Nigeria with over 10 million plus downloads. their personal loan cash range from #1000-#500,000. Also, their loan duration is within 62days to 1year. monthly interest rates from 3% to 23% depending on the risk profile of customer.

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FiarMoney’s popularity is currently rising in the online lending cycle. with 10 million+ app downloads, they are experiencing steady growth. they offer instant personal loans up to #3,000,000 for 1-3 months with competitive interest rates.


PalmCredit is one of the well known loan financing apps in Nigeria. their loans are collateral free and you can borrow up to #100,000 with interest rate ranging from 14%-24%. their loan duration is between 14days to 180days after disbursal.


Carbon is a loan financing app in Nigeria that helps customers achieve their goals. they have made loan easily accessible to customers to help them buy needed commodities and pay back in instalments at a later day. their loan amount range between #2,500 to #1,000,000 with repayment period from 61 days to 365 days at monthly interest that range from4.5% to 30%.


Kuda micro finance bank offers short term loan in the form of overdrafts to regular app users or customers. The bank overdraft requires no paperwork or documentation and comes with a 0.3% daily interest rate. The overdraft repayment period last 90 days but repayment are usually expected to begin 30 days after disbursement. Also, you can use the bank app to pay your bills, make unlimited cashless payments and save money with interest.


Okash Loan are granted using  smartphone data and credit scores. They offer urgent loan to customers anytime, anywhere.  Their personal loan amount range from #3000 to #1,000,000 with repayment period from 15days to 91 days at daily interest that range from 0.1% to 1%.

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QuickCheck is owned by Arve Limited. Their collateral free personal loan ranges from #1,500 to #500,000 with interest rate starting from as low as 5% monthly on first loan. Also, their repayment period is 1-3 months.


KiaKia is a digital lending application focused on borrowing money. The company provides instant loans of to 1 million naira.

According to the company, KiaKia processes over 10,000 loans everyday with 1 loan disbursed every seconds.

Aella Credit

Aella gives out small, medium and long term personal loan to Nigerians ranging from #1,500 to #1,500,000 with a tenure of 61 days to 1 year. Their monthly interest rate ranges from 2% to 20% per annum. Also, they give up to 60% discount on early repayments.


These 10 loan apps are legit for personal loans in Nigeria. They offer quick and easy access to loans, no paperworks, no collateral, no documentation and user-friendly application interface. Individuals are free to choose from any of the 10 loan apps listed above and apply for an instant loans.

Frequently Asked Questions (FAQs)

Are these loan apps safe to use?

Yes, the above mentioned loan apps are legit  and safe to use. Also you don’t need to worry about you personal information they are safe.

Do I need collateral to get a loan?

No, most of this loan apps do not require collateral, paperwork or documentation of any kind. All you need it your smartphone, bank ATM card, BVN, Account number and working phone number.

How quickly can i get loan?

Loan disbursement is very quick and instant. It can as well take up to 24 hours, depending on the lending app and the amount requested.

What are the interest rate?

The interst rate vary by loan app, but however it is usually between 5% to 30%. This depends on the loan amount and repayment period.

Can I apply for a loan with bad credit score?

Yes, some loan apps give out loans to customers with poor credit scores. they offer low amount with high interest rates.

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