10 Best Instant Personal Loan Apps in Nigeria


TOP 10 best instant personal online loan apps in Nigeria are here to give instant online loans with quick requirements which are easy to fill.

With an ever-growing financial appetite, Nigeria is fast witnessing a new set of mindsets, practices, norms, and habits toward financial goals and means. Taking a loan is no longer seen as taboo today. People no longer mind taking out a personal loan in times of emergency or to meet a short-term need with no end-use restrictions or collateral attached.

A borrower can spend the money on anything making it the most comfortable financial cushion. Young individuals have been taking loans from the best loan apps in Nigeria for various purposes like studying overseas, financing a holiday, renovating their house, buying a car, and even for their personal milestones like weddings.

Due to the platform/app-based features and services, including tailored loans, low-interest rate loans, online credit cards, a straightforward application procedure, and 24×7 tracking, easy money loan app have gained popularity in Nigeria.

In Nigeria in 2022, multiple online loan apps offer a fast, paperless, and hassle-free way of getting quick access to funds to fulfil your dreams or help you during a financial emergency.

In this blog, we have listed 10 of the best loan apps in Nigeria that have taken the Nigeria financial space by storm and are changing the way young Nigerians borrow!

What is online loan?

Online loan are a form of unsecured or secured loans in which borrowers do not need to visit a bank or make a physical loan application. The online loan application can be made from the comfort of the home at any time through a website or an online loan app. The loan application is reviewed in real-time, and the approval status is intimated immediately.

Quick online loan app services are usually offered by banks, private financial companies, or fintech companies. These loans are designed for urgent cash needs to cover planned and unplanned expenses.

Online loans vs. bank loans What’s Better?

Consider what’s more important to you: quickness and convenience or talking face-to-face with a lender at a bank.

Bank loans are traditionally used for bigger items like home or auto loans. This means that the approval process is stricter and requires more documents to ensure a person’s ability to repay a large amount.

Online loans, on the other hand, get approved in as fast as 24 hours and only require documents for identification. However, the amount that a person can loan is much less than what one could get if they apply for a loan in a bank.

Many financial technology companies offer personal loans online. But whether an online or in-person loan is better for you depends on what you value most.

If you prefer a face-to-face experience, opt for a traditional brick-and-mortar bank. If you want fast funding and modern conveniences like mobile loan management, an online lender can make sense.

No matter your preference, the best choice of lender is usually the one that offers the lowest interest rate. Always compare offers from multiple lenders to get the loan that best fits your needs.

Online loan– Typically offer pre-qualification that doesn’t impact your credit.
– Faster loan approval and disbursement, sometimes within the same day.
– Fully online loan application and approval process means consumers must be comfortable submitting forms and personal financial information with minimal personal interaction.
Bank loan– Having a preexisting relationship can mean higher approval odds, lower rates or more favorable terms.
– Face-to-face personalized service to help through the application and loan management processes.
– Typically no pre-qualification process that lets you see loan rates and terms without impacting your credit.
– Loan approval and disbursement may take several days or longer.

How do loan app works?

These loan apps require quick sign-up or registration by the customers after which it shares available credit facility for the customer basis the details shared. The request is approved and sanctioned immediately as you complete KYC and share consent for terms & services. The process is 100% digital and contactless. It can be as fast as 5 minutes to a maximum of 2 days.

Nowadays, there are plenty of online personal loan apps, including flypay, LCredit loan app, Fairmoney app, Palmcredit, Okash loan, Carbon loan app, Migo loan app and so on. It is advisable to learn about the features, charges, and terms & conditions of all the available options before choosing the most suitable one.

Advantages and Disadvantages of online loan

It’s a good idea to weigh the pros and cons when deciding whether to go with an online lender versus an in-person lender like a bank. Certain features may vary from lender to lender, but here is generally what you can expect with online loan:

Advantages of online loans

  • Unsecured loans: You do not need to provide collateral property to secure a loan, which is convenient if you do not have a property or anything valuable to use as collateral.
  • Flexible repayment: Many online loan apps offer flexible repayment plans to make it easier and more convenient for you to repay your loans.
  • Growing credit limit: First-time borrowers will have a lower maximum loan amount, but as you continue paying your dues on time, these apps provide higher maximums.

Disadvantages of online loans

  • Higher interest rate: Because the loan is unsecured, the interest rate will be much higher than traditional bank loans.
  • Smaller maximum loan: If you’re a first-time borrower, you may find that your maximum limit may not be enough to cover your expenses as the maximum amount you can loan is much smaller than what traditional bank loans provide.
  • Risk of hacking and scams: Be careful about the data you share and the online loan apps you use, as these can be prone to data hacking since the whole loan process is done online. Make sure you use online lending platforms registered with the Securities and Exchange Commission.

Our Top Picks

flypay quick loan

For your urgent financing needs, flypay has you covered. A Fintech company that pioneers online consumer financing, they are focused on providing hassle-free, quick loans without any collateral. Using their cash on demand platform that aims to simplify the approval process and long queues, you can immediately borrow funds for any purpose in as fast as 24 hours! Promising an easy application loan process and fast turnaround time, their service offers the simplest and quickest way to solve your budget problem. Aside from interest, processing, and service charges, there won’t be any other fees required, as long as you pay on time.

No Guarantor but need Instant Personal Loan – flypay can be helpful

Advantages Of apply for instant loan flypay:

  • Fast application loan and approval process in just 24 hours.
  • Very low monthly income requirement.
  • No processing, disbursement, or miscellaneous fees.

For a smooth application process, check the eligibility requirements below:

flypay quick loan FAQ

How do I apply for a cash loan online?

  1. Log on to their website: www.flypay.ng
  2. Fill in the application form.
  3. Wait for a call from flypay
  4. Loan confirmation will be sent to you via SMS
  5. The money will be sent to your indicated bank account within minutes from receiving the SMS confirmation.

How much is the first loan in flypay?

The initial loan from flypay is N50,000.

How much can I borrow?

With flypay loan app, borrow from as low as N5,000 up to N500,000 on your next loan, subject to approval.

What are the flypay quick loan Requirements?

An applicant must fulfill flypay’s eligibility criteria for a loan:

  • Applicant must be between 20-60 years old.
  • Employed with at least N5,000 monthly income.

Consequently, after filling out an loan application form, the following documents are necessary:

  • 1 government-issued ID
  • Valid bank account

*Additional documents may be required during credit evaluation.

How much is the interest of flypay?

The interest rate of your initial loan is 36% of the loan approved. However, this can go down to 11% on your succeeding loans.

What happens if my repayment is late?

There will be a late payment charge of N500 every 3rd, 10th, 20th, 30th day of default (depending on the account). On top of that, you will not be allowed to loan again.

Is flypay quick loan the right one for me?

In a booming industry with an ever growing number of online loan providers in the market, it can be quite a challenge when selecting the right product based on your need. Aside from your required preference, you need to be sure that you are dealing with a reputable company that can be trusted. In making a decision, these should be the top criteria you have to look into and based on their credentials, Cashwagon complies to most of these aspects. An excellent option for those looking to borrow money online and pay up in the shortest amount of time, flypay offers loan amounts up to N500,000 with same day approval and payable up to 30 days. There are also no processing, disbursement, or any miscellaneous fees, with a very low monthly income requirement of just N5,000. So if these are the qualities you are looking for in getting a loan in the shortest amount of time, then flypay should be on top of your list.

LCredit loan app

If you need an instant personal loan quickly with no guarantor, you need to have good creditworthiness. Instant personal loans are unsecured loans and collateral free in nature that does not require any security or guarantor. But, if the credit report is unsatisfactory, loan approval may get delayed or rejected.

LCredit loan app is preferred due to its easy application and quick approval in 24hours.

There are loans with a higher amount that require a guarantor mandatorily but if your financial need can be met with instant personal loans then nothing like it as you will not have to look for a guarantor. LCredit , an instant personal loan app powered by CASHIGO is a great financial support providing a loan amount in a range of ₦5,000 – ₦100,000 instantly without a guarantor.

LCredit instant loan app is curated in such a way that it can be helpful when the financial needs are urgent with no guarantor or security needed. Following are the LCredit personal loan app key features and benefits defining how it can be helpful, when needed the most with no guarantor:

LCredit ensures quick instant personal loan within minutes, once the required documents and personal details are authenticated.

There is no collateral or guarantor needed for availing LCredit instant personal loan even if the borrower is applying for the first time.

Interest rate is fixed that reduces the risk of fluctuation as per the market rate.

Another important feature and benefit of an online instant loan procedure is the paperless documentation. No physical documents are required on the LCredit loan app. KYC details and income documents are verified for loan sanction.

With no guarantor, the borrower’s stable monthly income will suffice to avail LCredit instant personal loan.

LCredit eligibility criteria with no guarantor

When you look for a personal loan the first thing the lender will verify is the eligibility criteria for instant personal loan. LCredit can be helpful as the eligibility criteria is hassle-free as mentioned below:

  • You should be in an average age bar between 20– 58 years
  • You should earn a minimum income of ₦5,000/ per month
  • Six month bank statement of salary account for salaried and & six month bank statement for self-employed is mandatory
  • Should hold a proof of Nigeria citizenship

Documents required for LCredit instant personal loan

The paperless documentation makes LCredit online procedure convenient for the borrower with just three things needed for approval:

  • Identity Proof that includes your / Smart card driving license/Passport
  • BVN card details for evaluating your credit score and financial history
  • Other details like company address and job stability of at least six months is needed while applying for instant personal loan with no guarantor

So, a guarantor is not a mandatory requisite while applying for an instant personal loan. Being an unsecured loan, the formality of submitting assets or having a guarantor is eliminated.

10 Best Instant Personal Loan Apps in Nigeria

The Carbon app

Carbon is a simply, digital financial management tool that offers short-term, online loans to meet unforeseen costs or cash requirements. Here’s where you can get the Carbon app.

You may apply for an online loan via the Carbon app with just an Android device and a few basic conditions; 24 hours a day, 7 days a week, with a short application procedure that lets you know your status in minutes.

Carbon (Paylater) is an easy-to-use internet mobile app that enables customers to get short-term loans. In 2016, the financing platform was established. The software allows users to apply for loans online. In today’s world, the system is growing increasingly popular.

Users may now obtain loans of up to ₦500,000 through a new version of the app called Carbon (Paylater v2). There are loyalty badges tiers and a referral system in the new edition, as well as a fresh look. The maximum loan request amount is ₦100,000, with a 90-day payback term. The interest rate on a new Paylater (Carbon) loan is 4-10 percent, depending on your degree of loyalty.

Carbon Loans for everyone

ID card is required for loans over 50,000 Naira. Carbon accepts the following documents:

– Drivers license

– National Identity card (NIN)

– Bank Verification Number (BVN)

– International passport

– Tax ID

– Voters card

– Personal picture

– Vail ID card

  • Borrowers must be in an age group between 21 – 55 years

Carbon users aged 18 – 20 will be provided with loan offers starting at N1,500 with gradual increases after on-time repayments.

The max application limit – 2 loans every 30 days will not apply to these particular users.

  • Borrowers must fall in a minimum monthly income bracket of ₦5,000
  • You should fall under the category of salaried or self-employed individuals
  • You should be a Nigerian resident with a proof of identification

What is the purpose of Carbon?

Getting an online loan has never been easier than with Carbon. Carbon can assist you fulfill any urgent financial demands you have, whether you’re a student, company owner, wage earner, or merely in between jobs and in need of dollars.


It’s that easy! To apply for a Carbon online loan, simply follow the instructions below:

1. Go here to get the Carbon app.

2. Fill up your personal information: BVN, home address, occupation e.t.c

3. Select the loan amount and term that you want.

4. Fill out and submit your application. In a matter of seconds, you will receive a loan decision.

5. If your application is accepted, your account will be reimbursed within minutes.

Customer Carbon Review

Your reviews motivate us and help us make our service even better

It’s great to be of service to people like Lanre A., who’s taken 8 Paylater loans to run a small side business and then, boosted by a 100% on-time repayment record, moved up to a Paylater Plus loan of NGN 240,000 when he needed to urgently pay rent.

Or Elizabeth O. who, after taking a few loans to bridge the gap between pay days and tend to the needs of her 3 children, fell badly ill and needed to settle medical bills. This came at a time where she had funds tied up elsewhere. Fortunately for her, she had the Paylater app.

She has now earned 2,100 points in the app which she’ll use to obtain larger amounts at even lower rates as she climbs further up the Paylater Ladder.

Vivian A., currently a student in Anambra, doesn’t have any more financial concerns about school fees ahead of her graduation as she knows there’s quick funding available 24 hours a day, 7 days a week, and has been supported since July 2016.

Contact us

Carbon is a service provided by One Finance & Investments Limited (RC No: 1044655), a licensed Finance company. You may contact us here for more information and feedback:

Email: customer@getcarbon.co

Connect with us on social media: www.facebook.com/Paylater & www.twitter.com/PaylaterNG

Call us: 01–460 9945 & 01–631 1215


Looking for a convenient way to immediately apply for a cash loan? FairMoney loan app is the answer. An online loan provider that allows you to instantly apply for quick loan through an Android app. All you need is an Android phone and an BVN and you can easily apply and get the results in an instant! You can get approved from as low as ₦1,500 to as much as ₦1 million. Another great feature is you don’t need to have a credit card or a minimum monthly income to be qualified for a loan. There are also no collateral requirements. You can settle the loan as early as 61 days up to 18 months with an interest rates that range from 2.5% to 30% (APRs from 30% to 260%). The only requirement is you have to be 18 – 65 years of age to apply. Get the additional funds you need right at your fingertips whenever, wherever, with FairMoney.

About FairMoney

FairMoney is a loan app in Nigeria that offers its users an easy and stress-free way of lending money.

They launched FairMoney Loan around early March 2018. The online lending platform can now boast of disbursing over one thousand five hundred loans daily to Nigerians.

FairMoney – Get instant loans within 5 minutes

Before the launch, FairMoney has been able to help thousands of Nigerians and Nigerian businesses inch a bit closer to their dreams by providing them with the financial backing they can not afford at the moment. They have made it possible for individuals and small businesses to thrive in spite of the reality of their situation.

Advantages Of Applying With FairMoney:

  • No minimum monthly income requirement.
  • No collateral/credit card required.
  • Get approved in just 1 day.
  • Pay in 61 days, up to 18 months.

Interested? Take a look at the rest of the details below for more information regarding the product.

FairMoney loan requirement

Below are the requirements to get a loan from FairMoney:

  1. Basic personal information such as name and email
  2. Bank Verification Number (BVN)
  3. Bank Account details
  4. Automated Teller Machine card (ATM card). This is needed because it will be used to debit you for loan repayment.
  5. A photo of you may be needed in real-time
  6. App. You can only apply for the loan from the app

How to Apply for a FairMoney Loan

Follow the steps below to get a loan from FairMoney

  1. Download the Android application from Google Play Store. 
  2. Sign up or log in with your phone number or Facebook profile. 
  3. Create a profile of you’re a new user or apply for a loan as an old user. 
  4. Get credited with money in your bank account within a matter of minutes.

FairMoney takes customer experience and satisfaction as a major priority. To this effect, they have launched a new app that does this perfectly. The app is easy to use and reliable, announcing their next phase of growth as the easiest way to get a loan in Nigeria.

Getting a loan on FairMoney is easy and of course, a very straightforward process that can be done by anyone at all. Here are the few steps to follow when you’re trying to get a loan.

These steps can’t be wrong. It optimizes FairMoney to make their services accessible to every Nigerian.

FAQs FairMoney

What is FairMoney?

FairMoney is a digital bank. We make it easy for you to apply for a loan and receive your loan into your bank account in minutes 24/7.

I have a complaint or feedback; how do I contact you?

Please send an email to help@fairmoney.ng or reach out through our social media platforms.

Where is FairMoney located?

FairMoney office is located in Lagos, Nigeria. See fairmoney.ng/contact for more details

What devices can use the FairMoney loan app?

FairMoney is only available to Android users via Google Play.

How can I get an instant loan?

You need an Android phone and a BVN. That’s all! Download the FairMoney app from the Google Play Store. Sign up with the phone number linked to your BVN, answer a few questions and confirm your identity to receive a loan offer. If you accept it, you will receive your loan instantly in your preferred bank account!

How much can I borrow and for how long?

FairMoney offers loans from loans of up to 1 million Nairas for a period of up to 18 months. The better your lending history and positive behavior, the more you can access and the longer the period!

What makes FairMoney different from other lenders?

Speed of delivery – You can get a loan instantly in 5 minutes, from anywhere in Nigeria Flexibility – You can repay on or before your due date No hidden charges – Our interest and fees charges are all-inclusive, ensuring transparency The customer is King – Our team is trained to treat you with the utmost respect at all times

Do I need documents or a collateral?

No document, no collateral! You will only need to share your BVN details during the loan application and connect your card or bank account to authorize us to debit your account for the repayment.

Why was my loan application rejected?

Apologies on that, you can apply again in a few days! It might be for different reasons: – Not enough information found on the phone: You should increase your phone usage (Calls/SMS) to be eligible. – We decided not to give you a credit at this time after analyzing your profile. Keep using your bank account with healthy revenues to get a loan soon.

How can I repay?

Click on the “Repay” button in the app to pay via card or bank transfer

How do I check my account balance and payment date?

Please log in in the app, you will find your customized dashboard that contains your credit status and/or all the details concerning your current balance.

Can I get another loan immediately?

As soon as your previous loan repayment is confirmed, you can reapply immediately and get another loan in seconds!

Can I trust FairMoney with my identity and bank account details?

FairMoney is a Nigerian company with headquarters in Europe. We comply with European data security standards. FairMoney will never sell the information you shared to third parties.

Why do you request permissions on my phone when installing the FairMoney app?

FairMoney collect and processes securely data from your phone (SMS, device details, location, phonebook) to make a lending decision. This data is necessary for us to approve your loan in real-time without asking you for cumbersome paperwork.

What happens if I lose my phone?

Send an email to help@fairmoney.ng to get the details of your loan and your repayment date. You can also sign in from another phone using your phone number and password

What is the interest rate, fees, and other charges or penalties?

Interest rate for their loan ranges from 2.5% to 30% a month.

Is FairMoney Cash Loan the right one for me?

With the ever growing number of app users in the country, FairMoney is in the forefront of providing immediate funding needs through their FairMoney Cash Loan app. Their native app solution allows users to borrow small amounts of funds that they can use for whatever urgent need they may have. Everything is done through the app with fast, same day loan approval and disbursement, with the maximum loan repayment term set only up to 30 days. So if you are in the market with an urgent need to borrow a small amount with the capacity to pay immediately, then Tala Cash Loan should be on top of your list.

Branch loan app

Branch loan app delivers quick, easy loans but with high interest

Branch loan app is a legit and secure loan platform, approved by CBN. A reliable app for personal and SME loans with good interest rates and no late fees. Also, it is easy to qualify and be eligible for the branch loan with a fast payout.

Overall, Branch app is a safe loan platform where individuals can borrow money without collateral for personal or business use of up to 500,000 Naira.

Indeed, the Branch app loan is one of the best loan apps in Nigeria due to its impressive service delivery. Such as easy loan access, no paperwork, low-interest rates and no late fees.

About Branch Loan

The branch loan is one of the services offered by the branch app. Owned by The branch company, the fintech app offers financial services such as loans, free bank transfers, investments and payments of bills, airtime and data to its millions of users.

Of all the Branch products and services, the loan aspect is the most popular. With the aid of Machine learning, the company is able to determine how creditworthy is its customers – whether one will qualify and the amount of loan for a start.

As mentioned above, the Branch loan is not a stand-alone app like other loan apps rather, it is one of the products of the Branch app. Hence, to access it, you have to download the Branch app.

Indeed, it can come in handy for anyone who needs a quick loan online with little paperwork and effort. It is a loan for personal or small business use with a competitive repayment interest rate.

However, do not expect to get a huge amount of funds on the branch app as a first time user.

Rather, you are simply offered a small amount depending on factors like the amount of data the branch app is able to gather on your smartphone with your BVN information.

Pros And Cons Of Branch App


  • You need no collateral or documentation
  • Once your loan amount is approved, it will be delivered to your account in seconds.
  • They do not charge late or rollover fees.


  • Repayment duration is short.
  • The maximum amount you can get from Branch is N200,000

Branch Loan Requirements

Like every other Loan app, Branch loan has some requirements you should meet that guarantee that you’ll get the loan you apply for with them. Some of these requirements include;

  • A Branch account
  • A functional android smartphone.
  • A valid BVN
  • Valid bank details
  • Valid Mobile Number
  • Access to stable internet connection
  • Facebook Account.

If you fulfill these requirements, you can qualify and apply for any loan amount determined by Branch.

How Do You Apply?

Applying for a Branch Loan is as easy as taking a breath. All you need is your Android device and access the internet, and you’re all set to access Branch’s financial services. Once everything is set, and you’re ready to apply for the loan, follow these easy steps;

  • Get the App: With access to a stable internet connection, navigate your way to the Google PlayStore on your Mobile device. Once you get on Play Store, search for the app and install it on your mobile device. Once it successfully installs, proceed to the next step.
  • Create an Account: After successful installation, open the app and punch in your details to create an account. You’ll need a valid phone number and your name. You’ll get a code to activate the account once you download the app. You can also register on the Branch app with your Facebook account.
  • Fill in Your Details: Here, after successfully creating the account, you’ll need to fill in your details. Now, this is where it gets personal. You’ll need to fill in more of your details to see your loan limit. More so, there are different types of loans that you can apply for on the app. They include; Personal loans, business loans, Medical Loans, and Loans for traveling. Some of the information you’ll need to provide includes your BBVN number. It would be nice if the mobile number you provided is linked to the BVN. You’ll also need your valid bank details, guarantor’s number, etc., to check your loan limit.
  • Loan Offer: Once you’ve submitted your details, the Branch loan would proceed to analyze your personality to check how much risk you pose to their business. Once the analysis is complete from their end, they’ll show you how much they can borrow from you. Then, you can apply for the loan, which you’ll have to pay back after a while.

Branch Customer Care

The branch Nigeria does not have a phone number you can call. So, there are 2 ways to contact the company:

  • In-app message.
  • Social Media Handles.

To contact Branch customer care on the app,

  • Simply, open the app and tap the profile icon on the top right corner.
  • Then, tap Help.
  • Next, tap Customer care.
  • Lastly, type your message and send it.

You will get a response very soon.

FAQs Branch

What is Branch?

Branch makes it easy for people in Nigeria to transfer money, get instant loans up to ₦500,000, and enjoy investments yields of up to 15% and 20% per annum on Flexi and Fixed investments respectively.

Can I call a Branch representative or visit the office?

At the moment, we do not provide customer support by phone number or in person. Please send us a message via the app any time, and we will help you resolve whatever issue you may have.

How do I get the latest version of the app?

You can follow this link and click Update. Or you can go to Google Play, search for “Branch International” then click “Update”.

How does Branch make a lending decision?

Branch uses data from your phone, including your handset details and SMS messages to automatically make lending decisions. We combine this with your Branch repayment history to build an individualised credit score, which determines the loan offers you receive.

Why was I rejected for a loan?

If you don’t get accepted when you apply, don’t worry! Sometimes it may take several attempts to qualify for a loan. We encourage you to continue saving data on your phone and to reapply after the period stipulated.

How long does the application process take?

We aim to process all loan within 24 hours. We hope to reduce it soon to just a few minutes.

How can I increase my chance of being accepted?

Branch uses data from your phone as well as other sources to make a lending decision. To increase your chances of approval, please make sure to save the data on your phone, stay current with all other lenders, and correctly input your account details.

What if someone else applied with my phone?

Once a phone has been used to access Branch, it cannot be used by anyone else. To access Branch, kindly use another phone that you own and that has not been used for a Branch loan before.

How do I apply for a loan?

Applying for a loan is easy! After you have downloaded the Branch app, all you need to do is sign up, navigate to the “Loans” option at the bottom of the Home screen, and fill in your personal details, phone number and bank details. Then you can view available loan offers, select an option, and tap “Apply”.

How much can I borrow?

Our loan sizes range from ₦2,000 to ₦500,000. If you repay loans as scheduled, the amount that you can borrow will increase.

How do you determine my loan offers?

The loan offers you see depend on a number of factors, including your repayment history with Branch. If you repay each installment by its due date, you may unlock access to larger loans over time. Note that the increase may not always be immediate, and that repaying your loan late may result in smaller loan offers.

Can I apply for a higher amount than shown?

Unfortunately, you won’t be able to access a loan of a larger size. The fastest way to increase the amount you are eligible for is to build credit by making each repayment as scheduled.

What’s the largest amount I can take?

The largest loan amount we currently offer is ₦500,000. To access this amount you need to take and successfully repay the smaller amounts as scheduled and gradually build your credit limit.

What interest rate does Branch charge?

Interest rates are determined by a number of factors, including your repayment history with Branch and the cost of lending for us. Depending on these factors, our rates vary as follows:

• Loan Terms: 9 – 52 Weeks
• Late / Rollover Fees: None
• Interest Range: 17% – 40%
• Equivalent Monthly Interest: 1.5% – 20%
• Equivalent APR: 18% – 260%

Borrowers are required to cover any bank transaction fees associated with repaying the loan. Standard SMS and data charges by your mobile carrier may apply.

Will my loan size increase everytime I repay?

Your loan offers are automatically determined by a number of factors. Even though it may not always increase immediately, it will increase over time as you continue to make all of your repayments as scheduled.

How fast will my loan size increase?

Each loan amount is automatically determined by our systems each time you repay based on a number of factors. We encourage you to keep making your repayments as scheduled to increase your loan amount.

How can I repay my loan with a debit card?

  1. From ‘My Loan’, tap the ‘Make a Payment’ button.
  2. Select the Amount you wish to repay.
  3. After you have made your selection, tap ‘Continue’.
  4. On the ‘Select Repayment Method’ screen, select ‘Debit Card’ from the drop-down menu.
  5. Add your Debit (ATM) card details:
    1. Card Number (16 or 19-digit in front of your card)
    2. Card Expiry Date (Month and Year in which your card expires)
    3. CVV (a 3-digit number at the back of your card)
  6. After you have filled in the details, tap ‘Continue’.
  7. Choose your auto-debit setting under ‘Payment Options’ and tap ‘Continue’. Tap here to learn more about auto-debit.
  8. To secure your payment, some banks will ask for your pin or send a security code to your phone.
  9. Your payment is done. If successful, your account will be updated automatically within a few seconds.

Please note that no fees will be charged to you for this transaction.

How can I repay my loan with a bank transfer?

  1. From ‘My Loan’, tap the ‘Make a Payment’ button.
  2. Select the amount you wish to repay.
  3. After you have made your selection, tap ‘Continue’.
  4. On the ‘Select Repayment Method’ screen, select ‘Bank transfer’ from the drop-down menu.
  5. Copy your personal account number.
  6. Open your mobile banking application. Initiate a bank transfer to Bank Name and the Account Number copied from the Branch app.
  7. Your payment is done. If successful, your account will be updated automatically within a few seconds.

Please note that your bank may charge you a transfer fee; however, there is no additional fee from Branch.

You must use the account number displayed in the Branch app in order to make a successful payment. Account numbers are unique to each individual customer and the transfer will only succeed if the account number matches your personal details in the Branch app.

OKash loan

OKash personal loans is a new way of lending money, offering competitive interest rates on loans ranging from a minimum of NGN 5,000 and a maximum of NGN 50,000.

OKash also have flexible interest rates that can be tailored to your budget

About Opay

OPay is a revolutionary payment platform that offers essential services such as payment, commercial transportation services, food and grocery deliveries, and others.

When you conduct transactions, you lose money…a lot of it. Opay solves that problem by making your transactions easy and secure. Opay is short for Opera Pay. It’s a comprehensive online payment platform that allows you to carry out a host of transactions.

Opay is a growing Nigerian company that offers you the easiest way to pay for goods and services online and offline. Through Opay’s network, you can now pay your bills, transfer money, buy airtime, data and subscriptions to Pay TV, call a driver and book an appointment.

Pros & Cons of Opay Loan App Review

So what’s the best way to get a loan in Nigeria? With Okash loan app, of course. Okash is a loan app in Nigeria developed by the OPay group. It allows users to easily receive a loan of up to ₦1 million within minutes. There’s no collateral required, and all you have to do is provide your email address and phone number. The lender will also be able to send you a confirmation SMS, which is proof enough that you will be getting the loan as promised.


– Okash loan app is a fast and secure processing of loan payments using the phone. A quick and fast way to process your mortgage payment, car or credit card.

– At Okash Loan App you’ll receive an easy loan with no collateral and no deposit requirements.

– The sign-up process at OKash is easy and straightforward. Complete the form with your personal details, and you will be redirected to their secure credit application page. No hidden tricks or unnecessary steps, the loan process is painless.

– It’s a loan application process that is simple and easy. You can do the whole process online on your mobile phone. You don’t have to pay a physical visit.


– The privacy concerns with Kash are the same as with any other app. Your personal information is being stored on their servers. If they are hacked or if there is a data breach, your information may be compromised.

– The cost of a OKash loan is high. There are other cheaper options available.

There are other options available to you which can help you avoid these high costs by borrowing smaller amounts over longer periods of time

– Loans are for short-term. If you need to borrow money for a long time, it’s usually better to just save up and pay cash.

– It has a maximum amount you can borrow and this amount is based on your income. The loans are for a fixed period of time

How To Get Started Borrowing Money from Opay

To enjoy the company of our loan officers and the timely availability of loan, it’s necessary that you register your account on OKash loan app . It takes only 10 minutes to complete the application process and get an instant response from our loan team.

The procedure is simple and straightforward. All you need to do is fill out a short form with your personal details like name, contact number, email address and so on.

Once approved, you will receive your loan amount into your bank account within 24 hours or less!

How Much Can You Borrow?

You may apply for a loan of any amount you desire as long as it is not higher than the maximum (N50,000 at present).

This is the maximum loan amount you can get on OKash at any given time. You can, however, opt to apply for loans of different amounts by stating the amount you wish to borrow as the purpose of your loan at the time you register.

How To Get A Loan From Opay (Okash Loan)?

The Okash Loan Requirement is easy. The requirements aren’t stringent, you can access it with just an email address, and there is no credit check or paperwork required. The service targets all Nigerians, no matter the age, gender or location.

The applicant must be a Nigerian resident, have a regular source of income from a recognized organization or business, and have an active bank account.

The applicant’s age should be between 20 – 55 years.

There are certain requirements to be followed by every applicant that wants to take a loan from Okash Loan Requirement. These requirements are made in order to make sure that the company will not lose any money due to fraud or incompetence. There are some special requirements for personal loans. The most important requirement for obtaining a personal loan is the applicant’s monthly income.

Valid ID Cards (BVN) can be used as a secondary proof of current address or as primary proof of identification. You must provide us with one valid piece of government-issued ID.

Is the Interest Rate on this Deal Good?

The Okash Loan interest rate depends on the duration. The interest rate for a seven-day loan which ranges from 0.1% to 1%, while the interest rate for a 91-day loan is between 36.5% and 360%. However, there is a transaction fee which is inclusive of both the processing fee that ranges from N600 to N1299, and the guarantee fee that ranges from N6000 to N8000.

How To Repay Okash Loan?

  • Open your OKash app
  • Log into your account with phone number
  • Click on the button that says ‘make a repayment’
  • Provide all required details
  • Click on the ‘repay’ button

Repayment is made automatically at the end of your loan, which means you do not need to worry about repaying on time and there are no delinquency fees. However, if your account does not have enough funds, the autopayment will fail.

>> More: OKash – Get a Quick Loan in 5 Minutes

KashKash loan app

If you need extra cash in less than 10 minutes, there is a way to get it. KashKash loans is one of Nigeria’s prominent online lending platforms with no collateral and fast approval process.

KashKash – You can apply for the loan with convenience and speed.

How to get a loan from KashKash

KashKash is a Nigerian financial service provider that offers people flexible short-term loans for personal and business use. This post will enlighten you on how to get a loan from KashKash, how to repay, how to calculate the loan interest rate, and lots more.

KashKash: Personal loan in NG is a free finance app for use in Nigeria

KashKash offers eligible loan applicants the ability to obtain up to ₦200,000. The app has a smooth interface and it’s easy to navigate. Also, you will receive the money in your bank account shortly after your loan application is approved.

Requirement to Get a Loan

Before getting a loan from Kash Kash, you have to meet the eligibility requirement needed by Kash Kash. Below are the eligibility requirements for getting a loan from Kash Kash.

  • You must be a resident of Nigeria
  • You must be within the age of 20 to 55
  • An Android device
  • A reliable monthly source of income
  • You will need a phone number
  • The bank account number with which you will receive the amount obtained
  • Your Bank Verification Number (BVN)

If you have the requirements above, start the application process by getting the official KashKash application.

How much loan can you get from KashKash?

KashKahs loan app offers loans ranging from a minimum of ₦3,000 to a maximum of ₦ 200,000

Interest rate and loan origination fee

Kashkash offers a huge interest rate when it comes to online loan applications in Nigeria, ranging from 0.1% to 30% interest rate.

With different origination fees and different interest rates. With an origination fee of NGN 1,174 to NGN 6,000, for one-time charges.

Having an annual interest rate of about 36.5% to 300% which is always calculated daily. Using a 90days loan as an example, a 90 days loan has an origination fee of 39% and an interest rate of 2.7%.

Kashkash customer care and email address

For questions and complaints, you can always reach out to KashKash loan service. They have customer support executives that will attend to you.

You can contact KashKash customer support via their email address and phone number.

Phone numbers: 09087614169, 09087614170Email Address: help@kashkash.ng



Just like any other loan, you have to plan your finances in order to keep them in good standing. That’s where TrueNaira loan comes in handy. It’s a platform that gives you the option of getting out of debt so that it becomes easier for you to pay off your loans with ease.

About true naira loan app

You can apply for a loan at any time from the convenience of your home with the TrueNaira loan app. You can apply for a loan and receive payment to your Nigerian bank account using only your Mobil phone.

However, you should be fully aware that the program provides a loan, which you must repay with interest inside a set timeframe. You will learn all the specifics regarding the truenaira loan interest rate in this tutorial, and you can choose whether to keep reading or go on.

Requirements for TrueNaira loan app

You must fulfill a certain prerequisites in order to apply for a loan using the TrueNaira Loan App, and I will outline those requirements in this section.

Below are the requirements for true naira loan app:

1. You must be a Nigerian and reside in Nigeria.

2. Your age must be of 20 to 60 years old.

3. You must have a valid source of income.

4. You should provide a valid bank account with considerable amount of credit and debit transactions.

To evaluate your credit score and to know the amount of loan you may take out without any problems, all of the aforementioned conditions will be taken into account.

True naira loan interest rate

The online loan application provides loans with terms of 91 to 365 days and amounts ranging from ₦2,000 to ₦50,000. The time it takes to repay a loan is known as the loan term.

The annual truenaira Interest rate is 16% -21%

Service Fee: 0

How to download TrueNaira loan app

The app itself is the essential requirement; in order to use all the knowledge that has been revealed thus far, the app must be installed on your phone. I am going to give you the TrueNaira loan app APK in this section along with thorough instructions on how to install the app on your phone.

Download the APK file from the link provided above to install the real naira loan APK on your phone. Once you have downloaded it, go to the download folder in your phone’s gallery by opening it.

Locate the file you downloaded earlier and click on it to open it. A button to install the app will then appear; click on the button to do so.

If you are not comfortable with the APK version, you will be able to download the app from the Google Play store using the direct link I am providing you with in this section.


How to apply for a loan on True Naira loan app


You only need to download and install the real naira loan app on your smartphone, open it, and accept the app’s terms of service to register.

A code will be given to the phone number you supply when you input your phone number and click the “Get Code” button. Enter the code and establish a four-digit password after doing so. Once finished, press the register button. Verify the number you supplied matches the one on your bank’s verification code.


Simply launch the app to log in to your genuine Naira Loan App account. If your login session has not already ended, you will be sent to your account dashboard.

When you first use the app, you will see two boxes—one for your registered phone number and the other for your four-digit code—if your login session has expired. When you enter your phone number and the four-digit password, you will instantly have access to your account again.

In some circumstances, you might just need to enter your four-digit password; do so, and you will be sent right to your account dashboard.

Apply loan online

You only need to launch the TrueNaira loan app and enter your basic information to apply for a loan. Only first-timers are obliged to do this.

During this process, you must provide accurate information because that will determine whether you can get a loan or not.

You can now submit your first loan once you have completed providing the necessary information. You can apply, and once it is accepted, the loan will be transferred right to your Nigerian bank account.

How to repay loan on TrueNaira loan app

Simply download the app, go to the loan section, and enter your information to repay your loan. You will see the specifics of your loan, the due date, and the repayment amount. Simply select the Pay Now option.

When you click the payback button, you will be sent to the app’s payment options. Choose the one that works best for you and then follow the on-screen instructions to finish the repayment process.

TrueNaira Loan App Customer Service

The best thing to do is contact the app’s customer care service to make that easier for you if you have any problems with the app, its services, products, or any of them. You can contact TrueNaira customer service using any of the methods listed below.

Name:TrueNaira Loan App
Phone Number:+234 7048057921
Mailing Address:Office Address: Lekki, Lagos, Nigeria

With the comprehensive information provided in this tutorial, you should completely grasp how the TrueNaira loan app functions and how to access its products and services. It is a personal loan app that assists Nigerians with online loans that do not require any documentation.

XCredit loan app

Are you finding it hard to manage your finances? Have you tried to get out of debt with different loans and not been able to do so? If the answer is yes, then you can use XCredit to help you get out of debt and start planning on how to build wealth.

About XCredit loan app

The Xcredit loan app is an online and mobile loan application that offers loans to people without the requirement for security. When applying for an xcredit loan, all you need to do is download and install the app on your smartphone. The next section of this tutorial will explain all the specific details on how to become loan-eligible. Continue reading!

You may apply for a loan of up to 500,000 on the x credit loan app without having to worry about filling out a form, and the higher your credit score, the bigger the loan amount you will be qualified for.

By leveraging the information on your phone, including the history of your SMS messages, to authenticate your identity and establish a credit score, XCredit has made applying for a personal loan straightforward. To safeguard your privacy, X Credit Loan encrypts any data you want to provide them. However, Xcredit has pledged to treat your privacy with the utmost respect and to never disclose your data with outside parties.

Xcredit Loan Requirements

You must meet a few requirements in order to be eligible for a loan on the XCredit loan app. I will list out all the requirements in this section so you can get a head start on others and have your loan application approved on the platform.

AGE: You must be older than 18 years old for you to be eligible for a loan on the platform.

CITYZENSHIP: You must be a Nigeria citizen and reside in Nigeria. As at the moment of writing this guide, the app is only operating in Nigeria and been headquartered in Lagos.

VALID SOURCE OF MONTHLY INCOME: you will be provided with options to choose from, during the Registration.

VALID BASIC INFORMATION: Make sure you provide valid information during your registration.

CREDIT LIMIT: This is decided by reviewing your daily transactions, including the rate of input and outflow from the bank account you registered for on the app. It would be helpful to XCredit to know how much you are allowed to borrow, and you may increase your loan limit by making on-time payments on your past due debts.

How to apply for a loan on XCredit

Install the app from the Google Play Store

For now, there is no web version of XCredit. To use this service, you have to download and install the Android app.

Register an account with XCredit

Open the app and indicate that you are a new user. Create an account by providing your BVN and other personal information. 

Apply for a loan

Once your account is registered, you can apply for a loan. You will need to exercise patience so that the management can approve your loan request.

Your loan request can be rejected. This can happen if you are yet to pay the debt you borrowed from another loan company, or if your BVN has been associated with fraud in the past.

Receive the funds

If your request is accepted, you will receive the money within a short while.

It is advised to pay before/on the due date, as that increases your loan limit. The more consistent you are with payments, the higher the amount of money you can borrow from XCredit.

How To Repay XCredit Loan

Users of XCredit are required to repay loans before or on the 180th day after the loan was taken out.

The sum that must be repaid includes the amount borrowed plus interest fees. For instance, if you borrowed $5,000 from XCredit, at the conclusion of the loan term you would pay back $5,000 plus an extra $600 (12% interest).

Additionally, if your payback is past late, you will receive a penalty. Each each day you do not make payments after the 180th day is charged a 2% interest fee. Visit the official website to learn more.

Your loan limit is also reduced by late payments.

What is XCredit Interest Rate

Xcredit has an interest rate, just like every other loan application. Before applying for a loan with Xcredit, you must carefully read this section to make sure you accept the interest rate.

An interest rate of 12% of the borrowed amount is provided by Xcredit. For instance, if you borrowed N10,000 with a 120-day term, the total interest due at maturity would be:

N10,000 * 12% = N1,200.

XCredit loan app APK download

The app itself is the basic requirement, you must have the app installed on your phone to be ably to implement all the information that has been revealed so far. In this section, I am going to provide you with the XCredit loan app APK with the detailed information on how to get the app installed on your mobile phone.

XCredit APK download

Is XCredit Loan App Legit or Scam?

XCredit is a legit online Loan app which I can recommend to anyone who run out of cash and needs an instant loan. I got a loan of N7,000 Naira on my first Application and they promised to increase the loan immediately I pay back on time. Though you can get more than that when you apply because it depends on your profile. Someone that earns N100,000 monthly tends to get higher loan than the one that earns #50,000 monthly. So the amount of loan you get from XCredit depends on your profile. It is one of the best Loan Apps in Nigeria.



The Palmcredit Loan App is another addition to Nigeria’s many Instant mobile loan applications today.

The application started with a target of providing loans to at least 100,000 Nigerians for a start. Currently, Palmcredit is one of Nigeria’s most popular mobile loan apps.

At the moment, the application is only available in the Android version. However, plans are underway to make the app accessible to iOS. The latest version of this app has a face recognition feature to improve information security.

Palmcredit app install

Download Palmcredit on Ch Play

Registering on the Palmcredit app requires you to download the application and create an account. You should note that only those between 20 and 55 years old qualify for the loan.

Below is the procedure for downloading the app.

  1. Go to the google play store. for the Palmcredit loan app download
  2. Type “Palmcredit” in the search box
  3. Once the app pops up, click the ‘Install’ button.

After installing the app, you will be required to create your account to access services on the app. Below is the procedure for creating a user account.

  1. Open the app on your device.
  2. Click the sign-up button.
  3. Fill in your details (This includes your name, BVN number, legal referee name, and mobile number, Your Bank Account Details, Your occupation)
  4. Verify your phone number
  5. Account is active

Once your account is active, the app analyses your details to determine your loan limit. Your previous borrowing history will determine your credit score.

The loans given out by Palmcredit have a maximum of NGN 500,000 and are given out within a short period after application.

Palmcredit’s monthly interest rate ranges from 4%-4.7% while Loans Interest Rate ranges from 14%-24%. The Annual Percentage Rate (APR) on a Palmcredit loan is 48%-56%.

Here is a step-by-step procedure when applying for a loan from Palmcredit Loan App.

Applying for a loan from Palmcredit

  1. Open the Palmcreditapp on your device.
  2. Log in to your account.
  3. Check the Loan limit displayed
  4. Choose the amount you want to borrow (This should be less or equal to your loan limit)
  5. Choose the duration of the loan. (This should not be more than the maximum, The loan term is between 14 days to 180 days.)
  6. Apply

They will send the loan to the bank account you registered with. You must repay the loan on time to avoid a negative credit report. Also, regular borrowing and repaying increase your loan limit, which means you can access more massive amounts when borrowing from the app.


The loans are repaid directly from your bank account. Follow the procedure below when repaying the loan.

Palmcredit Loan Repayment

Palmcredit loan repayment is as simple as getting the loan. The following are steps on how to repay Palmcredit loan:

  1. Log into the  Palmcredit app and click ‘my loans’.
  2. Select the amount you want to repay. You can make the payment with your card.
  3. Put in your card details and make payment

Side note: If you are unable to make the payment on the app, you can pay to their account number. Ensure you speak to their customer care before you make a direct payment to their account.

You can make payment into the Palmcredit account number – 0772692676, Access Bank. Account Name: Transsnet Financial Nig LTD – Consuming Finance.

Once you make your repayment through bank transfer, you will be required to send proof of your payment to the email address: repayment.ng.pc@transsnet.com.

Palmcredit Customer Care Contact

Palmcredit has a customer service hotline that is available from Mondays to Fridays, 8:00 am – 5:30 pm Nigerian time. You can reach them on the Palmcredit contact number – 0700 7256 4357 for your questions and complaints.

FAQs Palmcredit

Is Palmcredit Real?

Is Palmcredit approved by the CBN? The parent company – Newedge Finance Limited is fully licensed by the CBN to operate as a finance company in Nigeria. This means that their operations are fully regulated. So, yes. Palmcredit is approved by the CBN, and it’s real.

Where is my Bank Verification Number required?

Palmcredit request for BVN because this is used to verify that the individual applying for the Palmcredit loan is the same as the owner of the provided bank account.

I have forgotten my Palmcredit PIN. How can I get it back?

If you do no remember your PIN, login the app, select “fotgot PIN” and enter the requested personal details in order to verify yourself and reset your PIN

How do I apply?

All you need to register is an android phone, your bank account details and your BVN. Once you download the application on your android phone, register your personal information and add your BVN and bank card details. That’s all, you can now apply for a loan

I just paid back my most recent Palmcredit loan. How soon can I apply for another loan?

As soon as you have fully paid back your Palmcredit loan, you can apply for another one immediately.

What happens if I can’t make a payment on my due date?

Palmcredit understand that financial circumstances can change suddenly. However, it is important to note that we do not reschedule repayment dates and you should only take a Palmcredit loan if you are certain you have the means to repay within late repayments and in addtion defaulted loans are reported to National credit bureanus and this can affect your ability to access loans in future. We therefore advice you to make every effort to meet your obligations on time

How can I claim my referral bonus?

Click on “Earn Rewards” in the sidebar to check your current cash bonus. When your referral balance is over N1,000, you can apply to withdraw your referral balance to your bank account.

I’m trying to download the mobile app from the Play Store, but I’m getting the following error:”This item isn’t available in your country”. How do I fix this?

This means that your Google Play account is currently set in a location where the app is unavailable

If you are currently in a location where Palmcredit is a available, but your Play Store settings currently have you, in a different country, you will need to update your Google Play account profile to your correct location in order for you to access the app

I have made my repayment but my account is not yet updated

If repayment hasn’t reflected after several hours, kindly get in touch with us via 017001000 or send us a mail palmcredit.service.ng.trabssent.com so we can investigate and solve the problem for you.

Can I reschedule my loan repayment date?

Please note that due dates are fixed and cannot be resheduled. Please ensure you make your payment on or before due date in order to continue having this service available to you

How do I check my account balance and due date?

Please log in to your Palmcredit account to view all details concerning your loan.

My loan status shows “Disbursed” but I am yet to receive funds in my account

Funds are typically received within a few minutes of receiving disbursement confirmation. We recommend checking that the bank account provided is a personal account. We also advise checking your account balance directly as credit alerts are not always received with transfers. If the situation is still the same contact our customer care for further assistance.

I have submitted my application but I have not yet received any notification on my loan status?

Notifications are typically sent via SMS and or in-app chat immediatyle after your loan application is sent. If you have not received either of these, please check the “Loan History” menu in the app to confirm the current status of your request.

If I make an early repayment, will I pay less?

Early repayments are accepted and encouraged. The advantage of paying early is that it helps build your credit worthiness and you can apply for more loan immediately after paying off your previous loan.

Can I trust Palmcredit with my data?

When using Palmcredit, your data is always secure. Our platform uses world-class standard security and encryption technology to protect all details.

I don’t receive a BVN phone verification code, what do I do?

The verification code will be sent to the phone number linked to your BVN. Please make sure BVN is 100% correct. Also note that a data connection is required in order to validate your phone number.

How do I earn referral bonus?

Palmcredit offers a bonus program that allows you to earn cash for referring a friend/family – the referral bonus is N600 per referral. Share your referral link to your friends/family after they download our application through the link and take a loan from us and repay back, we will pay you.

How do I repay my loan?

There are 2 methods for Palmcredit loan repayment

The first method is through the application itself, click on repayment select the online repayment option then proceed and repay with your card details.

The second method is through the bank transfer method, click on repayment then select the offline repayment option then a code and an account number will be given, copy the code and the account number, proceed to the bank to pay.

Why is my Bank Verification Number required?

Palmcredit request for BVN because this is used to verify that the individual applying for the Palmcredit loan is the same as the owner of the provided bank account.

How long does it take to process a Palmcredit loan?

It takes less than 3 minutes to process a Palmcredit loan

I don’t know my BVN. What do I do?

To find out your BVN you can dial *565*0#. Please note that this will only work if you are making the request from the same phone number that is currently linked to your bank account.

Can I access Palmcredit from any location?

Palmcredit is currently available everywhere in Nigeria

What is required to receive a Palmcredit loan?

All you need to apply is an andorid phone, your BVN and bank account details

Why is my SIM unsupported?

You may see this error message if Palmcredit is unable to detect the required SIM card in your phone. Kindly remove all other SIMs from your phone and leave only the SIM card you need to use, then log back into Palmcredit.

Can I change my information after I recevie a loan?

At Palmcredit, we conform to the highest standrads of data integrity. This means that you cannot change information that was previously used to process a successful loan application

kiakia loan

9credit loan app

Renmoney app


Are loans from online lenders safe?

Loans from online lenders are as safe as loans originated from large banks, provided that the online lender is reputable.

A reputable lender, online or otherwise, typically checks your credit, discloses the costs and terms of the loan and checks to verify that the loan won’t wreck your finances before approving your application.

Should I get an online loan?

It ultimately depends on the purpose of your loan. If this is a significantly small loan that can be paid with your next paycheck and you don’t mind the higher interest rate, then getting a fast online loan may be the faster and more convenient solution.

But if you’re looking for a significantly large loan to buy a home, vehicle, or high-cost property, your only option would be to consider a traditional bank loan. It is not a quick process, but when you’re dealing with long-term loans with smaller interest rates and higher maximums, bank loans are the more practical solution.

How to get online loans for bad credit

There are ways to qualify for online loans for borrowers with fair or bad credit. For example, you can add a co-signer or co-borrower to the loan application to boost your eligibility or get a lower rate or higher loan amount. This person is responsible for the loan amount and any fees if you fail to repay.

You can also apply for a secured loan, which requires putting up collateral, like your car or a savings account, to help guarantee the loan. However, you risk losing the collateral if you default on the loan.

If you don’t need the loan immediately, you can take steps to build your credit before applying.


There are a plethora of personal loan apps in Nigeria today all offering varied features and benefits. As for which is the best loan app, that depends entirely on you. 

Whether it is low interest rates, convenient application process, or a high amount of loan, choose a personal loan that fits your requirements the best. If you are looking for an affordable, convenient personal loan that is given to even those with low interest rates, visit the https://flypay.ng/ to apply today.



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