10 Mobile Loan Apps that Work in Nigeria

Nigeria's digital lending landscape has experienced remarkable growth, with over 425 companies now registered and licensed to offer digital lending services via mobile apps as of May 2025. These mobile loan applications have become essential financial tools for millions of Nigerians seeking quick access to credit without the traditional banking bureaucracy.

Here are 10 reliable mobile loan apps that are currently operational in Nigeria:

1. FairMoney Microfinance Bank

FairMoney is the number 1 most downloaded fintech app in Nigeria, with over 10,000 daily loan disbursements and over 5 million users. The app offers instant loans, banking services, savings, and investment options.

Key Features:

• Loan range: ₦2,500 - ₦500,000
• Quick approval within 5 minutes
• Collateral-free personal loans
• Free bank transfers and debit cards

Contact Information:

• Website: fairmoney.io
• Facebook: @fairmoney.ng
• Instagram: @fairmoney_ng
• Download: Available on Google Play Store and Apple App Store

2. Branch

Branch is a popular lending platform that provides quick loans without requiring guarantors or collateral. Branch offers fast disbursement up to ₦200,000 within 24 hours and allows users to spread payments over 4 weeks and more after the initial loan.

Key Features:

• Loan range: ₦1,000 - ₦200,000
• No contact list access required
• Flexible repayment terms
• Available on both Android and iOS

Contact Information:

• Available on Google Play Store and Apple App Store
• In-app customer support

3. PalmCredit

PalmCredit offers a straightforward service that allows users to access instant loans worth ₦2,000 to ₦100,000 hassle-free, with eligibility for users 18 years and above.

Key Features:

• Loan range: ₦2,000 - ₦100,000
• Quick application process
• Instant approval
• Minimum age requirement: 18 years

Contact Information:

• Download from Google Play Store and Apple App Store
• Customer support available through the app

4. QuickCheck

QuickCheck is a trusted online loan platform that provides fast, secure, and affordable instant loans in Nigeria. The platform gives users quick access to cash when needed anytime, anywhere.

Key Features:

• Instant loan disbursement
• Secure platform
• User-friendly interface
• Competitive interest rates

Contact Information:

• Website: quickcheck.ng
• Available on mobile app stores
• Email support through their website

5. Carbon (formerly Paylater)

Carbon is one of Nigeria's pioneer digital lending platforms, offering instant loans and other financial services through their mobile app.

Key Features:

• Loan range: ₦1,500 - ₦1,000,000
• Bill payment services
• Investment options
• Instant loan approval

Contact Information:

• Website: carbon.ng
• Available on Google Play Store and Apple App Store
• Customer support: support@carbon.ng

6. Okash

Okash has over 5 million downloads and is managed by Blue Ridge Microfinance Bank Limited, always available to provide loans to its users.

Key Features:

• High download numbers indicate reliability
• Backed by licensed microfinance bank
• Instant loan processing
• User-friendly interface

Contact Information:

• Download from Google Play Store
• In-app customer support

7. Aella Credit

Aella Credit Loan App is a revolutionary platform that utilizes advanced technology and mobile devices to streamline the borrowing process, offering unparalleled convenience and speed.

Key Features:

• Advanced technology platform
• Fast loan processing
• Streamlined borrowing process
• Mobile-optimized experience

Contact Information:

• Website: aellacredit.com
• Available on mobile app stores
• Customer service through app and website

8. Renmoney

Renmoney is a digital lending platform that offers personal loans and other financial services to Nigerians through their mobile application.

Key Features:

• Personal loan offerings
• Competitive interest rates
• Digital application process
• Quick disbursement

Contact Information:

• Website: renmoney.com
• Phone: +234 700 RENMONEY
• Available on Google Play Store and Apple App Store

9. ALAT by Wema

ALAT is Nigeria's first fully digital bank, offering loan services alongside comprehensive banking solutions.

Key Features:

• Fully digital banking experience
• Instant loan facility
• Zero account opening fee
• 24/7 customer service

Contact Information:

• Website: alat.ng
• Phone: +234 1 277 3000
• Email: hello@alat.ng
• Social Media: @myalat

10. Money in Minutes

Money in Minutes is designed to provide quick access to loans for urgent financial needs, living up to its name with fast processing times.

Key Features:

• Rapid loan processing
• Emergency loan facility
• Simple application process
• Quick approval system

Contact Information:

• Available on Google Play Store
• In-app customer support
• Social media presence for updates

Important Considerations

Before applying for loans through any of these apps, consider the following:

Regulatory Compliance: Ensure the app is registered with relevant Nigerian financial authorities. The Federal Competition & Consumer Protection Commission (FCCPC) has resumed registration of digital money lending apps under the Limited Interim Regulatory Framework and Guidelines for Digital Lending 2022.

Interest Rates: Compare interest rates across different platforms to find the most affordable option for your needs.

Repayment Terms: Understand the repayment schedule and ensure it aligns with your financial capacity.

Privacy Policy: Read the app's privacy policy to understand how your personal data will be used.

Customer Reviews: Check app store reviews and ratings to gauge user experiences.

These mobile loan apps have transformed access to credit in Nigeria, providing millions of users with convenient financial solutions. However, it's crucial to borrow responsibly and only take loans you can comfortably repay to maintain good credit standing and avoid financial stress.