Top 10 Reliable Loan Apps in Nigeria

Not every loan app in Nigeria is good and reliable. As a matter of fact, there are more terrible loan apps that could ruin your life and destroy your reputation than the good ones out there. And while you may be pressed to urgently want to download and use some of these loan apps, it is important to know the ones who will threaten and humiliate you when you default and those who will approach your repayment procedure with ease, without getting your family involved or threaten you in the process.

The unfortunate part of the fintech industry in Nigeria is that most of these terrible loan apps are basically owned and operated by one or two companies. And they can go as fair as dox (share your personal details online), put a death threat on you and go as far as to call you a criminal.

With this article, you won’t only know the 10 reliable loan apps to borrow money from in Nigeria, but you’d as well learn the peculiarities of these apps. These loan apps are so reliable they are properly set up and won’t threaten you compared to the many terrible ones around. So, you can plan and choose the loan app that suits your needs the most. So, on that note, grab your popcorn and dive into this article already.

Top 10 Best & Reliable Loan Apps in Nigeria

If you are considering borrowing money from loan apps and looking for apps that you threaten you, call your friends, colleagues and family for defaulting on loan repayment or one that you claim you are a thief and a criminal. We do not expect that you borrow money with the intent of defaulting. However, we understand that plans could fall apart and not exactly work. If at all you must borrow, we recommend these loan apps.

Here are the ten best and most reliable loan apps in Nigeria that will not threaten, dox or defame you when you default or fail to repay your loan on time:

1. Branch

One surefire way to ascertain if something is real is to find out the number of people are patronizing it. So far, Branch is the most downloaded online loan app. 

Therefore, it attained the first in our record of reliable loan apps to borrow money. Its features are. 

  • Borrow from as low as N1000 up to N20,000.
  • Accessibility in Kenya, India, and Mexico.
  • 1.5% to 20% per month and 15% to 34% interest per year.
  • Credit scores decide the amount of the entitled loan.

2. FairMoney

There’s no better way to explain the reliability of fairmoney than stating that it gave birth to a microfinance bank. This app interface is top-notch and well-organized, also you can pay bills and recharge your smartphone on the app. 

You’d find different loan packages, such as educational loans, and personal and business loans. Other specs of FairMoney are.

  • Ability to pay back loans in installments. Plus, get another loan before paying the earlier one. (This depends on the borrower’s credit score).
  • 5% discount upon airtime purchase on the app.
  • Repayment ranges from 61 to 180 days after obtaining a loan.
  • 10% to 30% interest rate per month.
  • Joining a referral program means earning extra cash.

3. Carbon (Paylater)

Coming 3rd in our list of top 10 credible loan apps in Nigeria. Carbon has two distinct packages: the loan package for workers and the general loan package for everyone. 

It offers several other services aside from lending people money. This includes savings, payment of bills, credit scorings, and investments. More features of carbon are as follows:

  • An interest rate of 2% to 30%.
  • Accessibility of borrowing up to half a million.
  • Repaying on time unlocks access to borrow a larger sum of money, get a reduced interest rate, and gain cash back.

4. Aella Credit

Aella Credit is on this list because of the company’s mission statement. Their mission statement says they’re in the business of helping business owners stand strong on their feet. 

They do this by offering people access to quick loans, investment opportunities, quick cash, and bills payment. Its other peculiarities are:

  • 1 to 3 months of loan repayment.
  • 6% to 20% interest rates.
  • The use of a proprietary credit marking algorithm to calculate the credit score of the borrower. 

5. QuickCheck

QuickCheck is one of the top 10 most authentic loan apps in Nigeria because it comes in handy for business owners and individuals. Unlike other online loan apps, QuickCredit is only for Nigerians at the moment. Its features are:

  • Only available for Android users.
  • Using matching learning to check out one’s loan applications. As well as the character of the borrower.
  • A wide repayment range of 30 days to 6 months.
  • An interest rate of 2% to 30%.

6. Palm Credit

This virtual credit card is the child of renowned Newedge Finance Ltd, licensed by the Central Bank of Nigeria. Boasting a neat easy interface, Palm Credit is one’s sure bet in desperate situations. What else does Palm Credit promise its customers?

  • Repayment ranges from 91 to 180 days 
  • 14% to 24% interest range.
  • Only 18 and above are eligible. 
  • You can borrow from N2,500 to N300, 000 on the go.

7. Umba

With a whopping sum of 1 million downloads, sure Umba will rank among the top reliable loan apps in Nigeria. Unlike QuickCheck, this loan app is available across all devices. Umba’s unique features are:

  • It is ranking top among leading digital banks in Africa.
  • Repaying a loan on time increases one’s loan limit.

8. NodCredit

Using NodCredit is as simple as ABC. The app’s interface is easily well-arranged so that the elderly can easily navigate around the app. Like the above apps, there’s no need for collateral nor huddle fees for investors. Nodcredit features are:

  • 15% interest rate per month.
  • The interval of 30 days for payment of the loan.
  • The Approved age is 18 years and above.
  • Access to a quick loan of N10,000 to N50,000 for new members.

9. MoneyPal (Zedvance)

MoneyPal belongs to Zedvance Limited. This is a finance company that takes care of people’s needs by lending them loans. A borrower can get up to 5 million at a go on MoneyPal. But there’s more to the wonderful loan app, and they’re:

  • It boasts a fast and clean app interface.
  • 35% to 365% interest rate per year.
  • Flexible repayment plan: repayment of the loan can reach 2 years. 

10. Menacred

There couldn’t have been a better loan app to be the last among the top 10 reliable loan apps in Nigeria. This is because Menacred isn’t only a loan app, it’s an app people can seamlessly use to settle their bills and transfer money at zero cost. The wonderful features of Menacred are:

  • Accessibility of loans from as low as N5,000 to as high as N150,000.
  • Repayment ranges from 60 to 180 days.
  • Accessibility to a special account number for payment of loans and bills.
  • 5% to 18% of interest per month.


Considering the embarrassment of borrowing money from friends and family, plus the hectic stress of borrowing money in the bank. Getting loans on the corner of your room using your smartphone is the best option.

Thankfully, this article has provided the most top 10 and reliable loan apps in Nigeria. Therefore, you don’t need to be skeptical about any of them.

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