Last updated on July 9th, 2025 at 03:52 pm
Mobile loan applications have made it easier than ever for Nigerians to get access to fast and affordable loans. Whether it’s an emergency, starting a business or covering personal expenses, mobile loan apps enable quick and affordable access to money without the stress of dealing with a bank. The mobile loan applications also stand apart from banks because they have low interest rates and are easy to apply for and get approved and follow the CBN rules. In this post, we will look at the five best loan applications in Nigeria with low interest loans, good user experience and a legal covering. These apps are reliable options for those looking for a quick and dependable loan.
The table showing the Most Reliable Loan Apps in Nigeria
| Loan App | Loan Range | Monthly Interest | Repayment Period | Platform | Where to Download |
| FairMoney | NGN 1,500 – NGN 3,000,000 | 2.5% – 30% | Flexible | Android, iOS | Google Play Store, Apple Store |
| OKash | Short-term loans only | 1.2% per day | 15 days | Android, iOS | Google Play Store, Apple Store |
| Aella Credit | Up to NGN 2,000,000 | 4% – 29% | 1 to 4 months | Android, iOS | Google Play Store, Apple Store |
| QuickCheck | Starts at NGN 15,000 | Varies with usage | 15 – 60 days | Android | Google Play Store |
| Carbon | NGN 2,500 – NGN 1,000,000 | 4.5% – 30% | 61 days to 12 months | Android, iOS | Google Play Store, Apple Store |
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Features
FairMoney offers personal and business loans without collateral and also offers POS services and savings.
OKash is quick and simple and great for short term lending as it attracts a daily interest.
Aella Credit is a licensed CBN lender and provides higher loan limits and offers pay off incentives for repayments made on time.
Quickchek has instant loans and has data compliance for NDPR.
Carbon offers flexible repayment modes, bill payments and has a unique Carbon Zero feature for installments.
