10 Best Instant Loan Apps In Nigeria For Students 2022
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10 Best Instant Loan Apps In Nigeria For Students 2022

A list of the 10 best instant loan apps in Nigeria For Students will be provided in this post to help all students who are in need of funds for tuition fees and other academic materials.

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To find out the top rapid loan applications for students in Nigeria that are safe to download and run without shame or threat to clients, you need seek no further than the Google Play Store or the Apple Store. If you’re in the market for a quick loan, you’ll want to check out the best 10 lending apps in Africa.

We’ve put together this list of the top 10 best rapid loan applications in Nigeria for students in case you’re in need of some quick cash for small expenses or urgent demands that can’t wait.

Top 10 Instant Loan Apps In Nigeria For Students

Here are our top seven rapid loan apps for students in Nigeria. All you have to do is make sure you’re over the legal drinking age. No collateral, documentation or guarantee is required to use these sites. There is no requirement for you to visit any office or provide any hard copies of any documents. You’re ready to go with your smartphone.

Let’s take a ride together. Among the first ten are:

FINCA Microfinance Bank QuickCredit Loan App QuickCheck Loan App Wema Bank In Partnership With MOD Group FairMoney Loan App Borrowing for Education Costs

Application for a School Fees Advance from Aella Credit, Money In Minutes, Xcrosscash, or AccessBank 1. Eight of the best Nigerian instant loan apps without BVN for GTB school fees


1. GTB School Fees Advance

Nigerian Student Loan Apps That Disburse Money Right Away. Is there anything in this for you?

Advance payment of up to N5 million in school fees. Per request, the maximum term is limited to four months.
The interest rate is really reasonable. Principal and interest are paid in equal monthly installments.

How to Apply for School Fees Advance

Your child’s or children’s school fees can be paid immediately with an instant loan.

School Fees in Advance Application

Submit the Application Form and the Employer’s Undertaking Form as soon as they are complete.

Bills for school fees and credit insurance should be provided.

A corporate Guarantee or a GTBank-domiciled employee terminal benefit should be obtained.

2. Carbon Loan App

One of Nigeria’s top digital rapid loan platforms, Carbon (previously Paylater), provides quick loans to students, employees, unemployed, and entrepreneurs alike. They have a presence in Nigeria, South Africa, the United Kingdom, Ghana, and Portugal, with more than 40 employees. Carbon is widely considered to be Nigeria’s best and most trustworthy loan app. It comes in second place on our ranking of Nigeria’s best instant loan apps for students and other Nigerians of all walks of life.

From the best lenders in Nigeria, here are the top 10 platforms where you may get a loan in just a few minutes!

Collateral or guarantors aren’t necessary with Carbon’s digital lending. Starting with little loans and repaying them when they’re due will provide you access to larger sums of money in the long run, if you’re successful in your initial attempts.
You can access the loan platform at any time. Weekends and holidays are no problem when it comes to applying for a quick loan.

How To Apply for Student Loan from Carbon App

Download and utilize the Carbon app to get the most out of this service. (A DOWNLOAD LINK IS INCLUDED BELOW.)

You will be asked to submit your name, phone number, and other personal information.

A picture of yourself that you may be required to take in the moment using the app on your phone.

Verification Code from the Bank (BVN)

Details of a bank account

Using your ATM card to pay back the loan. In addition, you’ll have to provide important information about the card. A one-time authentication fee of N50 or N100 will be charged.

How to Download Carbon Loan App

Download the app from Google Play or Apple App Store to begin the process of securing a loan. A version for Android and an iOS version are both available.

To download the app on Google Play Store CLICK HERE.

To download the app on Apple Store for iOS devices, CLICK HERE.


3. QuickCredit 

You may get a loan quickly with QuickCredit

QuickCredit is the third most popular student loan app in Nigeria, because to its easy-to-use technology. The website offers short-term loans to help students, workers, and company owners deal with unforeseen bills and urgent cash demands.

You can borrow up to 100,000 with loan terms of up to 90 days from QuickCredit and have your money transferred to your bank account in just a few minutes.

To satisfy your immediate financial demands in as little as 24 hours, Quick Credit offers a no-paperwork, no-delay lending option.

How To Apply For Student Loan From QuickCredit Lending Platform

Getting a QuickCredit Student Loan;

Create an Account

There are three ways in which you can sign up for the service: on their website, through our MoneyPal app, or by messaging Zee on Whatsapp.

App;ly/Borrow money.

Complete our short application form and we’ll get back to you in less than five minutes.
the spraying of money onto an enormous credit card by a man

Money is received.

Within five minutes of approval, the monies are normally in your account.

  • To register and apply for loan through their website CLICK HERE.
  • To download the app on Apple Store for iOS devices, CLICK HERE.

4. Wema Bank In Partnership With MOD Group

In Nigeria, Wema Bank and MOD Group have teamed together to offer instant loans to students using their mobile apps.

Nigerian Student Loan Apps That Disburse Money Right Away

School Fees Advance Package offered by Wema Bank and MOD Group for students who desire to study abroad is highly regarded.

In cooperation with MOD Group (an education advisory organization), Wema Bank is offering a new loan package that provides up to N5,000,000 in school fees in advance for the payment of primary, secondary, and undergraduate/postgraduate school tuition in Nigeria and overseas over a 12-month period.

You can acquire a student loan to study abroad with the Wema Bank School Fees Advance Package.

As long as you’re enrolled in an undergraduate or postgraduate degree, you’ll be eligible for loans of up to ten million yen from the bank’s recognized partners.

Are There Any Restrictions On Who Can Use This Educational Loan Program? Who Is Qualified?

Any parent whose child has a Royal Kiddies or Purple Account, or who has been properly referred by MOD Education Nigeria Limited, or who fits the bank’s loan eligibility standards, is eligible to apply for this loan.

Applicants must be salaried, self-employed, Wema Bank workers, business owners, and employees of recognized organizations, such as corporations, to be eligible.

How To Access The Wema Bank School Fees Advance Package In Nigeria

Instructions for the Nigerian Wema Bank School Fees Advance Package

1. Start by putting it into practice.

Apply by completing the online form.

2. The second step is to verify your eligibility.

You will be contacted by a counselor by phone or email.

3. Protect Your Offer

Get a scholarship from a university that is a part of a consortium.

4. Pay back the loan.

Congrats. You can now apply for a student loan.

5. Apply for a Visa

You’ll receive your visa with the help of a counselor.

6. Additional Services

Receive further financial and educational aid.

If I’m a parent, do I need a Wema Bank account in order to use the school fees advance?

There is no need for a Wema Bank account if the parent does not have one or if the parent’s pay is not or cannot be domiciled in Wema Bank. Instead, an irrevocable standing order or post-dated checks must be in place.

What’s the procedure for getting your money back?
A DSR (Debt Service Ratio) of 30-60% of the net monthly earnings of the parent or guardian must not exceed the monthly payments of equal principle and interest.

Is there a way for me to pay for my child’s education while he/she attends school abroad?
Yes, the facility for paying school fees in advance can be utilized to pay for fees in other countries.

I have some money saved up for my child’s school expenses, but I need the bank to cover the remainder. Is this feasible?

Yes, you can do that.

What is the method by which the school receives the tuition?

The bank will make the payment on behalf of the parent/guardian and send it to the school.

Is it possible for a person to apply for a study-abroad program?

An exception to this rule is if the borrower already has an established firm with a steady cash flow to cover the monthly repayment of the loan.

Wema Bank’s school fees advance program can be applied for by clicking this link.

5. FairMoney 

FairMoney is the fifth app in our list of the best rapid loan apps in Nigeria for students and all other citizens.

Loan terms range from 61 days to 18 months and interest rates range from 2.5 percent to 30 percent each month, depending on the amount borrowed (APRs from 30 percent to 260 percent )

Features of FairMoney loan

1. Loans of up to a million yen are available.

2. 61- to 18-month repayment durations are available.

3. The annual percentage rate (APR) ranges from 30 to 260 percent.

4. Early repayment might result in interest savings of up to 90%.

5. There are no additional charges or fees that you didn’t know

FairMoney loan example.

Three months’ worth of 100,000 loaned

Cost of borrowing: 30,000 yen (interest) (30 percent rate)

Three payments of 43,333 each:

130,000 is the total sum owed.

APR of 120 percent serves as an example.

FairMoney allows you to: – Open an account and receive money from anyone in Nigeria; – Deposit funds into your account; – Send money to anyone in Nigeria for free; – Send money to yourself for free. You can apply for a loan and get a response right away. Make a payment on your debts.

CLICK HERE to go to the Google Play Store and get the app for your Android smartphone.

Learn about the FairMoney online loan program by clicking here.

For further information, please visit their website by clicking on the link provided below.

In-Depth Analysis

5. QuickCheck 

QuickCheck is a well-known digital lending platform that utilizes machine learning to predict borrowers’ behavior and analyze loan applications in real time.

Students and other Nigerians can use its digital financial services to get closer to their individual and commercial goals. Students and other Nigerians alike can use the site, which functions in the same way as other Nigerian rapid lending apps.

How To Apply For A Student Loan With QuickCheck Platform

QuickCheck’s Student Loan Application Process

Create a User Account

The software is free to download and you may sign up for an account.

Apply for a Loan.

Submit an application and we’ll run a credit check right away to see if you’re eligible.

How to Get Paid

As long as you meet the requirements, your money will be transferred to your bank account in no time.

  • To download the app on Google Play Store for android devices, CLICK HERE.
  • To get more information about QuickCheck online loan CLICK HERE.

6. FINCA Microfinance Bank School Fees Loan

The FINCA Microfinance Bank School Fees Loan is a short-term credible loan that is designed to help parents and guardians pay for their children’s educational expenses, including tuition fees, uniforms, books, lunches, and school buses.

In order for parents or guardians to acquire this loan, the children’s school does not need to have an account with FINCA.

What’s the point of getting a loan from FINCA Microfinance Bank?

1. Your children will never miss a day of school thanks to this loan, which ensures that their tuition is always paid on time.

2. You don’t have to worry about paying for all of your children at once.

3. Taking out a company loan isn’t a problem at all.

4. Flexible collateral makes it easy to get your hands on.

5. Life and disability insurance.

6. Because the entire session money has been paid, it provides a sense of security.

7. A lower balance means a lower interest rate.

8. There are no immediate savings.

FINCA Microfinance Bank Contact Address and Location

Plot 20 Wetheral Road

Owerri Municipal, Imo State, Nigeria

+234(0) 701 777 1072


7. Aella Credit

Nigerian students and graduates, as well as workers, can use Aella Credit, a respected lending platform that aims to simplify and open up financial access in emerging countries by utilizing technology and widespread mobile uptake. It comes in at number 7 on our list of student-friendly fast loan apps in Nigeria.

Aella Credit offers simple solutions, such as rapid loans, instant cash, investment options, and bill payment services, to enable students and other consumers become financially independent.

An Overview of Aella Credit Loan App

Install the Aella app on your phone.

You can download the Aella Credit app from the Google Play Store or the Apple App Store.

Second, create an account.

It takes less than a minute to fill out your information and submit for a review.

3. Make sure your profile is up to date.

Answer a few short questions about yourself to freshen up your profile.

4. Verify Your Eligibility to Participate

To find out how much money you’re entitled to borrow, simply click the “Check Eligibility” button.

5. Seek a loan.

In as little as five minutes, funds will be transferred to the account you specify.

Your bank account will be debited

Repayment of loans can be made through the App or by transferring funds straight to your own bank account. Increasing your credit score will allow you to borrow more money at a better interest rate.

8. Money In Minutes

Students and other qualifying borrowers can turn to Money In Minutes, one of the most trusted rapid loan apps in Nigeria. Digital lender MIM Finance Company, a UK-based lending platform with a presence in three (3) continents and Nigeria’s 1st Credit Membership, is in charge of the digital lender.

Students, people, and businesses may rely on Money In Minutes to help them meet their short- and long-term financial demands because to the company’s two decades of experience. In the words of the company, “Affordable and stress-free financing shouldn’t be for the fortunate few, but for ambitious and diligent citizens that can demonstrate the ability to afford repayments.”

To apply for a Money In Minutes Student or other loan, CLICK HERE.

9. Xcrosscash

Xcrosscash is a new platform that we evaluated for its suitability as a credible source of student loans in Nigeria. Your credit limit might be activated, and you can take out an emergency cash advance from the lender.

There are a variety of ways to increase your credit limit, which means you can have a reduced interest rate and a longer tenor by taking advantage of it.

Highlights of the package: Xcrosscash Loan Features

Repayment terms range from ninety days to 180 days, and interest rates can range from 4% to 4.7% per month.

Per year, the annual percentage rate (APR) ranges from 24% to 56% Xcrosscash charges a monthly interest rate of 4% if you borrow 10,000 for a six-month period.

The APR is 48 percent, with a 24 percent interest rate. Repayments of 24,00 over 180 days. NGN124,00 is the total cost of the transaction.

Xcrosscash Loan Requirements

A Nigerian between the ages of 20 and 55

How to Apply for Xcrosscash Loan

Xcrosscash’s Loan Application Process

cash can be yours in only three easy steps:

You can activate your credit limit within minutes of signing up for an account.

Make a bank transfer of money to your account.

As long as you maintain a solid repayment record, you can increase your credit limit by engaging in some light-hearted activities or increasing the system’s limit.

Xcrosscash is an Android app that you may download and use.

Obtaining funds is a breeze while using Xcrosscash.

There are no delays in receiving money. Our service is open around the clock, so you may acquire the money you need whenever you need it.

Xcrosscash can help you achieve your financial goals, whether you’re a salaried employee or a self-employed entrepreneur.

Rewards are given to those who do good deeds.

You can earn a free interest rate on this app if you pay back your loans on time.

Xcrosscash Contact Address and Location

• You can reach us at any time • Our service email is xcross.tyz@gmail.com • Our office address is 50c Sauket St, Ikeja GRA, Ikeja, Lagos, Nigeria.

You can download the Xcrosscash loan app on Google Play Store by clicking here

10. AccessBank Advance for School Fees

School fees can be paid with an AccessBank loan. This is the 10 best instant loan apps in Nigeria For Students.

Are you looking for a low-interest loan to help you pay for college, univeristy or polytechnic? In addition to short-term financing for school fees, Access Bank

Advance for School Fees offers finance for pre-primary through post-graduate studies, as well as payment for professional certifications.

You must, however, open an account with the bank in order to take advantage of this loan offer for students in Nigeria.

AccessBank Advance Loan Features and Interest Rate

AccessBank Advance for School Fees has a number of advantages.
The annual interest rate is set at 20%.
There is a 1% management fee.
Repayment should be spread out over a period of four to six months.
Fees can be paid quickly and easily to the school.
You can get refinanced.
Documents that are required to be sent
Loan application form completed
Identifying Factors
Letter of Acceptance, Tuition Bill, and Credit Report
Accepted terms sheet and offer letter.

The mechanics of How AccessBank Advance Loan works

Fill out the attachments with accurate information by downloading and completing the forms.

Don’t know how to do this? We’ve got you covered!). It’s a piece of cake! Scan your signature with a scanner app on your phone,

then save the image as a.png file. The image should be copied and pasted into the form.)

At your branch, fill out the form and bring in all the necessary documentation.

Loan applications are being reviewed for approval.

It has been determined that you are eligible for a loan, and you will receive an offer to accept.

The loan is disbursed to your account and remitted to the institution once the offer letter has been signed and returned by you.

If you’re looking to refinance, you’ll need to show proof of payments made.

To Apply for the AccessBank Advance for School Fees, Click here.

That has been 10 best instant loan apps in Nigeria For Students. If this article has been of help to you, why not share it with friends on social media through any of the sharing buttons below?

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Ekemini Ekpo

Loan money apps is a platform/blog that seeks to inform and educate people on various day-to-day technological activities. Vist our Quora Space to learn more

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