Instant loan apps in Nigeria 2021

Instant Loan Apps In Nigeria 2021 Updated

Before now, getting instant and handy loans has never been easy, as you may have to provide collateral before getting a loan, coupled with a high interest rate.

But now, that hassle has been reduced drastically. With the advent of various loan apps, one can stay in the comfort of his or her home and easily get or acquire loans from these loaning apps.

These instant loan apps are very convenient and easy to use. You can receive loan credit remotely as you don’t have to visit any office, provide collateral, or even stand in long queues.

As a business owner, at a certain point in time, you might run out of cash and may need money to finance your business or work. These instant loan apps now become a quick aid for you, as you can now use them to apply for a fixed sum of money and quickly receive it.

Students too in this case aren’t an exemption. I too am a student, so I know the expenses and payments students make most especially when they are in school. So acquiring loans from these 3rd party apps to finance certain projects would be a necessity.

So in today’s posts, I will be pointing out some of the best and instant loan apps in Nigeria where you can get or acquire loans instantly.

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List of Instant Loan Apps In Nigeria 2021

Kindly note that the apps below all have various and different conditions to be met before a loan credit can be approved and then disbursed.

So while working with any, make sure you adhere strictly to their requirements, and also their terms and conditions. Some of the best Instant loan apps are mentioned below.

  1. Branch Loan app
  2. Carbon (Paylater)
  3. Alat
  4. Palmcredit
  5. Aella credit
  6. Fairmoney
  7. Renmoney loan app
  8. Lcredit loan app
  9. Easy credit loan app

Branch loan app

When it comes to granting of loans in Nigeria, Branch is arguably one of the best. Outside Nigeria, the company also operates in Kenya, Tanzania, and India. That should tell you how large and reliable the company is.

Signing up with Branch is very simple and easy. With Branch, you can get low-sized loans starting from ₦1000 to ₦100,000. Their interest rate is very low and appreciative.

All you need is just to provide your BVN, legal name, and associate profile to acquire their loans. No paperwork or collateral is needed.

It takes only but a few minutes for your loan credit to be approved and then disbursed to your branch wallet, where you can now withdraw it straight to your bank account.

They also have a referral package where you get credited with ₦300 once your referral(s) fund their branch account.

To get started, simply download the Branch app from Google Play Store or you can visit the Branch website to get a loan.

Carbon (Paylater)

Another big boy in town when it comes to granting loans to customers.

Carbon, formerly known as Paylater has witnessed significant growth in its services over the years. It is a fully licensed digital bank that offers a host of financial services like instant access to loans, bill payments, investment of money with high-interest returns, etc.

You can get loans ranging from ₦5000 to ₦1,000,000 with no collateral needed and very small interest.

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Their loans are meant for eligible applicants irrespective of their economic status.

To receive a loan from Carbon, you will need to submit your BVN, legal names, etc.

Once your loan credit is approved, your money will be dispensed to the bank account you provided in the app.

You can earn ₦500 for each person referred to join Carbon. Terms and conditions apply.

To begin, download the Carbon app from Google Play Store or you can visit the Carbon loan app website.


ALAT is Nigeria’s first fully digital bank, designed to help you do more with your money.

They don’t just settle only for the position of a commercial bank but also provide small and large-sized loans to customers.

Although loans from Alat are mostly available for the employed, self-employed, or business owners. Their interest rate is one of the best.

Their loan category is group into four types namely,

  1. Salary based lending (Loan for salary earners)
  2. Goal base loan (Loan for everybody)
  3. Device loan (This loan allows you to get a device and pay later)
  4. Pay day loan (Loans for the month)

Just as stated above, their loans are mostly meant for acquisition by salary earners. Although some of their loan types can be received by a student or any individual who is not working.

As a worker, to get their loans, you will need to provide your work identity card or your statement of account. Although it seems this will be a bit difficult, don’t worry when you begin the process, you will get to understand and like the app.

To get a loan, simply download the Alat App from Google Play Store or you can visit the Alat website.


Palmcredit is yet another quick loan app that is specially designed to grant easy and quick loans.

The Palmcredit loan app runs only on the Android operating system. For now, the app ain’t available for iOS users.

Since the app is not available on the Apple store, iOS users can check out other loan apps listed in this post.

So to access the Palmcredit loans, one of the first things you need is an android phone. With your BVN also in place, you are up and running with getting their loan.

Within few minutes of the application, your loan will be approved and then sent to your bank account.

At their discretion, they can decide to give you any loan limit that they wish.

But then, you can do the following to increase your loan credit limit;

  • Uploading your driver’s license, if you have one
  • Linking your Facebook account to the Palmcredit app
  • Adding phone number
  • Taking a selfie of yourself etc.

When all these conditions are met your loan credit limit will be significantly increased to a higher amount.

Simply download the Palmcredit app from the Google Play store to get started.

Aella Credit

Aella Credit is another loan app on the list that offers such services; granting of loans, airtime/top-ups, bill payments, investment, etc.

Acquiring loans from Aella credit is very simple and fast. All that is required from you is your BVN and you are set.

As a business owner or student, you can apply for Aella credit loans and quickly receive the loan, with no paperwork or collateral needed.

What are you waiting for? Download the Aella credit app or visit their site now to get a loan.


With Fairmoney, you are not far from getting an instant loan.

The Fairmoney instant loan app offers small-sized loans with a decent interest rate.

Their loan amounts range between ₦1,500 to ₦1,000,000 with repayment periods from 61 days to 18 months at monthly interest rates that range from 2.5% to 30%

You can also use the Fairmoney app to pay for your bills and make payments for other utility services.

To begin, your BVN will be requested for authentication and other security measures.

The loan application process typically take only a few minutes. Once your loan is approved, it will be sent to you.

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To get the Fairmoney instant loan, quickly download the Fairmoney app

from Google Play store or visit their site at to get a quick loan.

Renmoney loan app

The Renmoney app gives you instant access to quick loans, savings, and investments with competitive interest rates.

They offer loans ranging between ₦6000 to ₦6,000,000, with convenient repayment from 3 to 4 months.

To get their loan, you won’t be required to provide collateral, guarantor, etc.

Your BVN is your only passport to get a loan from fairmoney. So make sure you have one inorder to get their loan.

You can get the Renmoney loan app from the Google Play store or visit their site to get a quick loan.

Lcredit loan app

You can borrow money online with Lcredit app.

The app gives you an instant loan with a flexible repayment plan, coupled with a favourable interest rate.

Lcredit offers loans ranging between ₦5000 to ₦50,000, with a loan period ranging from 91 to 180 days.

To begin the process, you need an android phone. Also, you need to have attained the age of 22 and you must be residing in Nigeria. Your BVN will also be needed.

Once everything is set, you can now request for a loan, and then have the money sent straight to your account once your application is approved.

To get the ball rolling, simply download the Lcredit loan app from the Play Store or visit the Lcredit site to get a loan.

Easy Credit loan app

Just as the name goes, Easy credit gives you access to easy and quick loans.

You don’t have to visit any physical office to acquire a loan from easy credit. From the comfort of your home, you can just apply for a loan credit and then get your money sent straight into your account.

Their minimum loan limit is ₦3000 while their maximum loan amount is ₦100,000. With a lending term of 91 to 365 days.

Just like other instant loan apps listed above, Easy credit doesn’t require collateral or any form of paperwork.

To begin, simply download the Easy credit app from the Google Play store to get a loan.

Those are some of the best Instant loan apps where you can apply and get loans quickly with zero collateral or paperwork needed.

Other loan apps worthy of mentioning are;

  • Opay
  • Jumia
  • Fast money
  • Sokoloan etc

How to get loans without BVN

Kindly take note that no company or loan app will grant you a loan without asking you to provide your BVN.

Without your BVN, they won’t know who they are dealing with, hence people might receive these loans and cart away with their money.

Your BVN contains only your profile and doesn’t have to do with your bank pin or bank details.

So feel free to provide them it when you want to apply for a loan

Bottom line

We only listed some of the best Instant loan apps here in Nigeria where you can apply for and get loans quickly.

Getting these loans is at your sole discretion. Make sure you abide by the guidelines governing each loan company to enjoy their service.

I would love to hear your thoughts on the listed loan apps.

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