top 5 loan apps that offer easy access and low interest rates in nigeria

Top 5 Loan Apps That Offer Easy Access and Low Interest Rates in Nigeria

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 AppLoan RangeMonthly InterestRepayment PeriodPlatformWhere to Download
FairMoneyNGN 1,500 – NGN 3,000,0002.5% – 30%FlexibleAndroid, iOSGoogle Play Store, Apple Store
OKashShort-term loans only1.2% per day15 daysAndroid, iOSGoogle Play Store, Apple Store
Aella CreditUp to NGN 2,000,0004% – 29%1 to 4 monthsAndroid, iOSGoogle Play Store, Apple Store
QuickCheckStarts at NGN 15,000Varies with usage15 – 60 daysAndroidGoogle Play Store
CarbonNGN 2,500 – NGN 1,000,0004.5% – 30%61 days to 12 monthsAndroid, iOSGoogle Play Store, Apple Store

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.

David Njoroge

David Njoroge is a sports journalist who covers African football leagues, athletics, and major continental tournaments. He shares inspiring stories of athletes and the growing sports culture across Africa.

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