Last Updated on April 27, 2024 by Twinbrodas
Talking about the reliable loan apps in Nigeria, Loan Apps is one of the best thing that has happened to this new generation. To get a loan before now was like getting an American Visa as you have to provide many things because you can only get that through the bank.
During the the time of banks getting loans is quite hard as you have to provide Collectaral and some other important documents.
Since the introduction of loan apps, many people now find it very difficult to visit the bank to ask for Loan because with loan apps, You don’t need anything like Collateral just your bvn and some personal information and you will obtain your loan.
As digital transformation continues to reshape the financial lifestyle, loan apps have gained much popularity among Nigerians who are looking for a way to get instant loan without wasting much time. Many online loan apps are available to solve this problem but with so many loan apps available, it can be so hard sometimes to identify a reliable and trustworthy loan apps in Nigeria.
Many loan apps presently online are not reliable, because after we wrote our previous article on the best loan apps in Nigeria, some of our readers also asked questions about the ones that very reliable.
In this article, we will be giving you the details of everything you need to know about loan apps in Nigeria 2024.
Reliable Loan Apps In Nigeria
- RenMoney
Renmoney is the number one on our list of reliable loan apps in Nigeria. I know that some people may still want to know the reason I said so. Don’t worry I will explain why. Renmoney is one of the best loan apps I have used. When we wrote a review about Quickcheck loan app, we explained that we wrote a review based on the apps we have used.
RenMoney is a leading Nigerian loan app that offers personal loans with low-interest rates and different repayment options. The app has one of the best customer service so far and immediately you apply for loan and they review your account and approve, They disburses funds within 24 hours. Customer reviews on playstore commend RenMoney’s reliable services and a good customer support. You can check their reviews on playstore to see for yourself.
- Carbon (Formerly Paylater)
The next on our list is carbon loan app which was formally known as paylater. Carbon loan app is one of the oldest and reliable loan app in Nigeria. Just like Renmoney, carbon is one of the best loan app that has a very customer service. They have proven to be reliable through many reviews online. This is one of the loan app we have used and tested and confirmed that they are reliable.
Carbon loan app also gives loans with very low interest rate and a long repayment period. Apart from carbon giving you loans, The app also offers other financial services like bill payments and investments, and that is why the app is very popular and many Nigerians are saying positive things about the app. You can also read their reviews on playstore.
- FairMoney
Third on our list is FairMoney. The truth is that you can’t complete the list of reliable loan apps in Nigeria without mentioning FairMoney. FairMoney is one of the loan app you can always rely on as long as you keep good credit record. What we mean by good credit record is the ability of you to always repay back your loan anytime you borrow funds from any registered loan app.
The app has one of the best interest rates, which decrease based on the borrower’s repayment behavior. Customers have also recommend FairMoney’s excellent customer service and the way they increase borrowing limit as long as you pay on time.
Another good thing about this loan app is they don’t defame their customers. They can only call to remind you about the loan you have not paid. If they are unable to reach you, they can also call your guarantor to remind you of your loan.
- PalmCredit
Palmcredit is another reliable loan app in Nigeria. Any loan app we said is reliable, just know you can get an instant loan anytime you apply as long as you are keeping to their terms and conditions.
PalmCredit is a reliable loan app that allows Nigerians to get quick loans without collateral. Many people have also recommend palmcredit as one of the reliable loan app in Nigeria. Their repayment plan is good and can accommodate everyone. Their interest rate is better than many of other loan apps out there.
As I use to say, I will always use an app before I can be able to make a review about them. One thing I noticed about this loan app is that the more they give you higher loan, the more the interest rate increases.
- Aella Credit
If you have been borrowing money online and you don’t know this loan app, that means you are missing a lot. This is another loan app in Nigeria you can rely on when it comes to giving quick and instant loan. One thing you should also note about this loan app is that the app features credit scoring algorithms that assess eligibility based on a user’s financial history. Aella Credit gained popularity because of their low interest rates and long repayment period. They are one of the loan apps on play store that can give you loan with a duration of more than 6 months.
- Kiakia
The next reliable loan app on our list is Kiakia Loan App. This loan app is a well known loan app in Nigeria and their popularity was gained because of the way they treat their customers.
This loan app has millions of downloads on playstore and apple store. They are also one of the loan app in Nigeria that you can trust their customer service. Once you apply for loan and you are qualified, your loan will be disbursed immediately and their repayment plan is one of the best.
They are not one of those loan apps that finds Joy in abusing their customers if they fail to make payment on the due date of their loan. They can only call your emergency numbers to remind them of your loan if you are unreachable.
Another good thing about them is that any information you grant them access to will remain with them and won’t be shared with any third party.
- QuickCheck
Quickcheck is another reliable loan app in Nigeria. This loan app has been in existence for quite some time now. This is one of the loan app which I personally used. Their Interest rate is low, their repayment plan is very ok because they can give you up to 6 months repayment period in installments.
The app analyzes bank details, airtime usage, and other data points to determine how much they are going to give. Once you keep a good credit record with them, they will always increase your loan limit. They can offer you loan which can be up to 500 thousand naira. QuickCheck’s high loan limits and Long term repayment terms have made it one of the most reliable loan app in Nigeria.
- Branch
Branch is one of the oldest loan app in Nigeria. They have kept a good record since the loan app was lunched. They are one of the most reliable loan app in Nigeria. They gives you loan as long as you meet the requirements needed. Their repayment plan is as long as the other loan apps mentioned above.
When you borrow money from Branch, you will have rest of mind as their customer service is well trained and they talk to their customers politely. It is also said that branch loan app extends loan agreement if you pay part of the payment before the due date.
Branch is a loan app gives instant loans to individuals and small business owners in Nigeria. This simply means that once you apply for the loan and it’s approved, You will be credited immediately. Branch loan app uses data from users smartphones to assess the users credit history and determine loan eligibility. Branch interest rates is one of the best in Nigeria and many customers appreciate their transparent loan terms and fast loan disbursement. You can read customers reviews on Playstore.
- PalmPay
I know when some people see palmpay on our list they will start laughing. The reason why they are laughing is because of the drama people see online concerning this particular loan app. What I mean is that many people claim that they goes around arresting those who are owning the country and refuses to pay back at a given time.
But the truth is that all are not true. Palmpay has come out to debunk the posts circulating the social media and threatens to sue those making those videos using their name.
Now let me tell you about palmpay. Palmpay is one of the most reliable loan app in Nigeria. Palmpay is not just a loan app, Palmpay is an online bank that issues loans to customers who are interested. The app can be used to pay your utility bills and and recharge your phone. You can use it for other banking transactions.
- KwikMoney
I know many people don’t know much about this loan app but this is one of the most reliable loan app you can see in Nigeria. Many people don’t know about KwikMoney because they recently changed their name from Migo to KwikMoney.
KwikMoney is now known as Migo. They provides instant loans without collateral to Nigerians both for personal use and small business owners. They have a very good interest rates and also good repayment plan. Whenever they are talking about reliable loan apps, KwikMoney is always among
- Specta
Specta Loan App is not as old as branch loan app and FairMoney but the loan app is one of the most reliable loan app in Nigeria. They offers customers instant loan app as long as you meet their requirements
The app is know for instant loan disbursement, low interest rates, and different types of repayment options. Specta customer service is also one of the best as they attend to any of your issues.
- PayConnect
Payconnect loan app is another reliable loan app in Nigeria. The app competes with the likes of Branch, paylater and Quickcheck loan app. They have one of the best customer service out there that helps in sorting out any type of issues you may be having with accessing their loans or any other related loan issues.
Payconnect loans is meant to meet specific needs, with a very good repayment options for borrowers. They have many positive reviews on play store and they can be trusted when it comes to instant loan disbursement.
- Gain Credit
With this loan app, you don’t need much documentation before you can be able to access loans. The loan app is one of the most reliable loan app in Nigeria as they gives users instant loan app. Though some people complained about them increasing their interest rates once you request more big amount of money.
The app has gained popularity because of their instant approval of loan and fast disbursement of loans. Their repayment terms is up to six months. Their customer service is online 247 to assist with any kind of issues concerning their loan app.
- OneFi
OneFi is a leading Nigerian loan app in Nigeria that offers personal and business loans. The app is one of the most reliable loan app in Nigeria. OneFi loan app is not know by many because it has not been in the industry for that long yet it’s making name for the one of the best loan apps in Nigeria.
The app uses machine learning algorithms to determine your credit score and disburses loans promptly.
When you read reviews concerning this loan app, Customers who uses this app appreciate it’s fair interest rates and encouraging repayment terms.
- Xcrosscash
Xcrosscash loan app is a comprehensive financial app that offers a loan feature and other services like investments, bill payments, and airtime top-ups. From our research, the loan app is said to be owned by the same owners of palmcredit. The loan app is very reliable.
The loan app offers it’s users a very good interest rates and long repayment plan. One thing you should note is that if you are owning palmcredit and you have reached the repayment time and you are unable to pay, you won’t be getting Loan From this loan app until you pay the one you are owning.
- SnapCredit
SnapCredit has been online for a long time and it’s one of the most reliable loan app in Nigeria. The name is not as popular as some of the other loan apps in Nigeria.
SnapCredit provides quick and reliable loans in Nigeria, The app’s efficient loan process, very low interest rates, and convenient repayment options have made it stand out as one of the best and reliable loan app in Nigeria.
- Quickbucks
I know that the fans of this particular loan app has been searching for their favorite loan app. The truth is that when you are good, you are good. The loan app is also among the reliable loan apps in Nigeria.
Quickbucks as the the name implies is always ready to give you quick cash as long as you meet up with their loan requirements. They are one of the online loan apps which can give you loans up to five hundred thousand naira.
Not just that, their interest rate is very low and repayment plans is one of the best in the industry.
- Okash
Okash is another reliable loan app in Nigeria you can trust when it comes to giving you instant loan. It was rumored before the okash is owned by opay one of the online digital bank in Nigeria. Some also said that the loan app has cut their ties with the Online digital bank Opay.
But according to the information we gathered, Okash is a loan app developed by OPay, offering instant loans without collateral. The app analyzes users’ mobile data and partner platforms to determine your credit score. Okash interest rates is one of the best and their repayment terms is up to 6 months.
- C24
C24 Loan App also known as C24 capital is another reliable loan app in Nigeria that offers instant loans to people.
C24 is a Nigerian loan app that focuses on personal loans with convenient repayment options. The app provides quick loan approvals and a very nice interest rates. C24 capital loan customer service is also very reliable and they are fast in loan disbursement. Their repayment terms is designed is a way you can make repayment by instalments and the period is up to 6 six months.
- Xcash
Xcash is a loan app that offers instant loans to people and they also gives small businesses in Nigeria loans up to one million Naira. The app utilizes data collected from users’ smartphones to assess credit score. Xcash loan app is known for its reliable loan disbursement and responsive customer support and that is the important thing that will help you to know a reliable loan app. Xcash loan app is the last on our list of the reliable loan apps in Nigeria.
We all know that the rise of loan apps in Nigeria has changed the lending industry. Reliable Loan apps has helped millions of Nigerians with access to quick and reliable loans. However, choosing the right loan app can be very hard due to the increasing number of loan apps available. That’s why we have taken our time to compile the list of reliable loan app in Nigeria you can trust.
Originally posted 2024-01-17 11:49:19.
