Are you finding it difficult getting a loan? The easiest way to get a loan in Nigeria is no longer by walking into the bank and asking for it. It is now done by using the bank’s specific loan app. With these apps, you can apply for a loan of any amount online and get it instantly in your bank account.
Best Loan Apps In Nigeria Today
The loan apps reviewed in this list are rated based on their interest rates, the initial amounts given to new users, the number of days you have to pay the loan back and how long it takes or them to increase the credit limit.
- OKash (Payday Loan)
Though operated by OPay or Opera Pay where it derived its name, OKash is a creation of Blue Ridge Microfinace Bank Ltd. Prior to January 2020 when the mobile app was fully launched as an independent app, the loan app was solely operated from the OPay.
You can download the mobile application from Google Playstore, signup on it and apply for the loan from it. You can also download Opay and access it right from there.
OKash may be the King of all loan apps in Nigeria today due to its’s popularity, but Palmcredit is the queen here. Right from the start, the loan app offers you a bigger sum of money compared to other loan apps. You also have the option from the beginning to choose the duration of the loan before you repay it.
My all time favourite loan app in Nigeria, FairMoney is 100% secure, easy to understand and use, with low interest rates. With FairMoney, you can get a loan of up to N150,000 and repay it over a three months period.