10 Best Loan Apps In Nigeria With Low Interest

Fortunately today, business owners and individuals can apply for quick online loans without putting up their possessions as collateral.

The greatest fear of getting a loan isn’t just repaying the money but the interest attached. However, getting a loan with low interest couldn’t be made easier, thanks to an ever-increasing era of digital loan companies, with every loan brand at its best to satisfy its prospects and gain more customers.


I watched a movie titled beauty and the beast(a great movie, the Nigerian version) and the man had people in burden because the interest for his loan was outrageous and overwhelming, and it made me wonder, indeed the fear of overwhelming interest on loans gives people a second thought on taking them.

What if I tell you I can give you the ten (10) best loan apps that would satisfy your needs? 

What is a loan app?

With smartphones, android and iPhones at every nick and cran, it won’t be hard to comprehend what a loan app is or how it functions. Nevertheless, for protocol and the sake of knowledge, we explain for better understanding. 

 A loan application is a digital app that borrowers use to apply for instant loans. Basically, a loan app is an app that can take out fast loans. All you need to do is just download the app on your smartphone and apply for a loan through the app. Within a short time, the lenders will grant your loan depending on the terms and conditions of the loan. 

 Best Loan Apps In Nigeria With Low Interest;

With no particular order of preference, this app is listed to help you get a fast loan, with no collateral and low-interest rate, 

to meet your needs and emergency situations.


You can access a FairMoney Loan in the range of ₦1,500 to ₦500,000 with durations for loans up to 60 days and above. The monthly interest is also about 10%-30% monthly. The process does not incur any additional fees or hidden costs when processing your loan.There are no requirements for getting a FairMoney loan. Simply sign up on the app and your loan will be processed. This is done without rigorous due processing, like documentation and collateral.

How to Apply for a FairMoney Loan

Follow the steps below to get a loan from FairMoney

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


Aella is one of the best loan apps in Nigeria, providing loan service without collateral to 1,000,000 NGN to help ease the blow of unexpected costs. Depending on the borrower’s characteristics, interest rates range from 4 per cent to 30 per cent . Also, they have a loan tenure of 1 – 3 months with zero late/rollover fees. . As one of the best loan apps in Nigeria, Aella is known for its 

innovation, it may interest you to know that they are the first digital lender to captain in Africa’s biggest market.

How to get a loan from the Aella loan app

  • Install the app using the installation button above.

Create an account.

  • Complete all relevant fields with valid and appropriate data.
  • Click the “Check Eligibility” button to find out how much you may borrow
  • Apply for a loan that satisfies your needs.
  • Obtain money in your Aella Wallet.


Branch is another good loan app in Nigeria. Basically, this platform delivers loan amounts ranging from ₦1,000 – ₦1,000,000. Loans from this lending platform have no late/rollover fees, have a monthly interest rate of 3% – 21%, and a 15% – 34% annual interest rate. 

Get loans ranging from ₦1,000 to ₦1m(Nigeria) and Ksh 500 to Ksh 30,000 (Kenya)

* Make repayments over a maximum of 64 weeks.

* Interest ranges from 1.75% – 30%, with an equivalent monthly interest rate of 1 – 21%.

* Annual Percentage Rate (APR) from 23% – 60.8%. No late fees or processing costs.

Carbon loan app, spreads around Africa, seeing that your needs are fully met with no hindrance, no matter where in Africa you are.


Tloan is an online lending app developed for Nigerians aged over 18 years with a provision to apply for a small cash loan from N2000 to N120,000 for a maximum of 90-180days. 


  1. Create an account with T-Loan
  2. Confirm Identification Details
  3. Apply your loan

Loan Products:

Loan period: we will require your repayment from 91 days to 365 days.

Loan amount: from NGN 2000 to NGN 120,000.

Loan interest: ranges from 4.5% – 34% with an equivalent monthly interest of 3% – 29% and APR of 29% – 365%.


This is one of my best, with records of excellence and I failed delivery, GT-World quick credit, powered by our very own GT bank. For those sceptical about trying new names in the loaning industry, feel comfortable trying GT quick loan.

How to use GT quick credit;

It is quite similar to the regular Quick credit product and yet, has its unique feature.

Prequalified customers are eligible for the loan

Customers get a Loan tenure of 6 months. However, schools get 12 months.

It has different rates for the two industries it places focus on —1.33 % per month for the Education segment and 1.75% for healthcare.


Customers have access to 50% of their average annual turnover

Customers can also open a corporate account. They should have used this account for up to 12 months before applying for a Quick credit facility

The minimum loan amount is N250,000.00, and the maximum amount is N5,000,000.00

Like the regular Quick credit product, customers also get their funds instantly. Another great benefit is its flexible payment plans. One can make interest payments monthly and quarterly principal repayments. Note, the quarterly repayment option is strictly for business in the Education industry. Note, if you have an existing loan facility with another commercial bank, you cannot apply.



Quick credit is a simple, technologically deployed lending platform that provide micro loans for short- terms duration to help meet and cover unexpected emergency expenses and urgent cash needs.You may borrow up to 10,000 NGN for 30 days as a first-time user, but fast payback promises more significant amounts and cheaper interest rates.

The QuickCheck loan app’s greatest strength and advantage lie in its interest rate. At 1% per day, the QuickCheck loan app provides one of the market’s lowest interest rates.

How to borrow from the QuickCheck loan app

Download the app from, play store or apple store

Create a profile by registering for an account on Quickcheck.

Quickcheck will immediately check your credit score when you apply for a loan and use machine learning to determine your eligibility. If authorised, funds will be sent to your bank account within minutes.


Xcrosscash lets you activate your involving credit limit. You can withdraw cash for urgent needs. And you have chance to level up your credit limit by different ways, which means enjoy higher limit, lower interest, more flexible tenor by using it.

Xcrosscash interest rate is from 0.9% to 4.7% monthly according to the loan company and Annual Percentage Rate (APR) from 10.8% to 56% per year.


Umba allows users to apply, drawdown and repay loans directly from their smartphone or desktop computer. Once an individual is verified, the credit platform make lending decisions based on an assigned risk rating.

  1. Download the Umba app
  2. Click on “Register Account” if you’re a new user
  3. Next, Fill in your phone number
  4. And then Fill in your email address
  5. Next enter your first and last name (the one used for your BVN)
  6. Next, Select your Date Of Birth
  7. Then enter your BVN
  8. Choose your gender 
  9. Click on register and you’d have successfully created an Umba account on the mobile app.


OKash is a Convenient Personal Loan Platform for Nigeria mobile users. Presented by Blue Ridge Microfinance Bank Limited, duly licensed by the Central Bank of Nigeria(CBN). Okash requires repayment from 91 days to 365 days and a loan amount from NGN 3,000 to NGN 500,000.with an interest rate a minimum of 0.1% up to 1%, which interest is calculated on a daily basis and an annual percentage rate(APR) from 36.5% to 360%

For example, 91-day loan payment terms,the interest is 9.1%. For the loan processed with a principal amount of NGN 3,000, the interest would be NGN 273, the total amount due would be NGN 3,237.The total amount due in the first month would be N1,093, the interest would be N93, the total amount due in the second month would be N1,090, the interest would be N90, the total amount due in the third month would be N1,090, the interest would be N90 


1. Install the OKash APP from the Play Store.

2. Register an account.

3. Select the product you would like to apply for.

4. Fill out your basic information, then submit the application.

5. After the submission, you may receive a call for verification. The final application result will be shown in the APP and you will be informed by SMS if approved.

6. E-sign the loan agreement after the approval.

7. After the E-sign, the approved loan amount will be disbursed into your account shortly and a SMS notification will be sent


Palmcredit instant loan app is, by all accounts, the fastest loan app in Nigeria, offering loan payouts in under 3 minutes. Palmcredit loan app gives fast access to loans from 2500 to 300000 NGN of up to 100,000 NGN within minutes.

Palmcredit loan repayment terms range from 4-26 weeks, with interest rates ranging from 5-28% at an annualized rate of between 24-56%.

Because it allows customers to take out as many short-term loans as possible without the need to wait for approval, Palmcredit quick loan app has become a popular mobile loan option in Nigeria and is one of the best instant loan apps in Nigeria.

This top-rated instant loan app requires no collateral or documentation and offers a payback duration of 91 to 365 days.


Getting Quick loans with low interest in Nigeria is a sure way to get out of money issues; that is why I have written a well-detailed list of the 10 best loan app with low interest.

There are other apps not mentioned here which gives loan with low interest in Nigeria, but, important information to bear in mind is if you are going to borrow money, personal or business, please make sure you have everything well planned, in other to avoid debt.


  1. Fair Money loan app
  2. Aella loan app
  3. Branch loan app
  4. T-Loan app
  5. GT world quick credit
  6. Quick credit loan app
  7. Xcross cash loan app
  8. Umba loan app
  9. Okash loan app 
  10. Palm credit loan app. 


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