Low Interest Loan Apps in Nigeria for 2022 (Top 20)
Loan Apps

Low Interest Loan Apps in Nigeria for 2022 (Top 20)

Wonder no more as there are now a plethora of low Interest Loan Apps in Nigeria. Some tariffs are reasonable, while others are not. If you are curious to know where to get quick loans from the comfort of your own home or office, with no collateral and a low interest rate then see more details below.

Low Interest Loan Apps in Nigeria for 2022 (Top 20)

I can still recall when individuals had to wait in line for a loan application in banking halls, even if it was only for a 5-digit amount like 10,000 naira.

The loan application process can take up to a month or longer in some cases. However, thanks to technological advancements, we can now obtain mobile loans within 24 hours to meet personal and corporate needs utilizing a smartphone, a mobile app, and an internet connection.

Here in this post i have discused the 20 top lending apps in Nigeria, in no particular order.

20 Low Interest Loan Apps in Nigeria for 2022

1. Lidya Loan

Lidya was among the first lending apps in Nigeria to provide small and medium-sized enterprises with accessibility to an unsecured fast online loan. Businesses can get N500 to N50,000 in credit using the platform.

Lydia evaluates the credit risk of every company that applies for a loan. It analyzes this information to generate a credit score that is unique to each company. Lydia also disburses loans in less than 24 hours.

Things to Take Note of:

  • Owning a business is a requirement.
  • Unspecified platform: Web Interest Rate (The company claims they are affordable)
  • The length of the loan is determined by the loan amount.
  • You can request more than one loans at the same time
  • Payment options include debit card and direct deposit.


2. Specta Loan

Specta, unlike Alat, is owned and managed by Sterling, a finance organization that does not require security, an insurer, or a bank presence to obtain quick loans.

Anyone can get a loan of up to N5,000,000 to suit your financial demands, regardless of your occupation or bank. The software is available for download on Google Play and has a variety of additional appealing features.

3. LCredit Loan App

LCredit lets individuals apply for personal online loans of up to N50,000 in seconds, depending on your age, monthly income, and previous debt. You only need to present a valid BVN and an Android phone to LCredit.

Personal loans with a beginning interest rate of 11.99 percent and a maximum limit of 36 percent are available through LCredit’s lending app for salaried and self-employed individuals.

LCredit is an app that can be downloaded for Android and iPhone. LCredit is registered and owned by Cashigo International Limited.

4. FairMoney Loan App

You may get a loan in minutes, buy airtime, and pay bills using your registered account with the FairMoney loan app.

Signup using the mobile number associated with your BVN to get started (an OTP will be sent to the registered number for verification) You must enter your contact information, as with any other loan application.

You can also go to the official fairmoney website to get more detailed information.

5. Branch Loan App

Branch is a loan app that is available in Nigeria as well as other nations.

The amount of a branch loan ranges from N1,000 to 200,000 dollars. This lending company’s loans have no late or rollover penalties, monthly interest rates ranging from 3% to 21%, and annual interest rates ranging from 15% to 34%.

Just go to the Google Play store and download an install the application, then follow the instructions.


6. Aella Credit

Aella Credit is also another popular loan app in Nigeria that offers quick loans. It offers loans up to N1 million with interest rates ranging from 6% to 20% and a loan term of 1 to 3 months with no late or rollover penalties.

One can have the application from the Google Play Store (Android) or the Apple App Store (iOS) or visit Aella for additional information.

7. PalmCredit

PalmCredit is a popular choice for Nigerians because it brightens your day by allowing you to get a loan of up to N300,000.

The PalmCredit app gives out loans with terms that begin from the period of ninety-one to one-hundred and eighty days (91 to 180 days). Talking about the interest of the loan PalmCredit takes just 14 – 24%. What this means is that, if you request an N100,000 loan for six months, your total payments will be N124,000. It’s that simple and good to go with.

For more additional and detailed information, you can download the PalmCredit loan app from the google playstore or visit any PalmCredit social media site.

8. QuickCheck

Quickcheck seeks to provide financial services to help people achieve their personal and professional goals.

You can, however, get a N10,000 naira loan for thirty (30) days if you’re a first-time customer.

If you want more details, please go to quickcheck.ng/faq/ and download and install from the Google play store.

9. Alat Loan

Wema’s Alat provides fast loans without the need for documentation or a trip to the bank. You can borrow up to N2,000,000 on specified terms and conditions, despite the fact that it is owned and managed by a bank.

This application may be downloaded from Google Play or the App Store, and the Alat website provides a great deal of information.

10. Carbon Loan App

Carbon has become a virtual bank, therefore we hope it continues in Nigeria for a long period of time, because it not only provides access to loans, but also investment, transferring of money, buying of vouchers/airtime, online payments of utility bills, and many others.

This is what you have to do, go to the Play Store and download the app. Fill in your biodata, submit all required information, including your BVN, and a loan amount will be calculated and approved for you based on the information provided.

Furthermore, should you need to return a loan on or before the due date, just fund your Carbon wallet with a bank transfer via the app’s USSD function?

11. Blocka Cash

In Nigeria, Blocka Cash offers simple and hassle-free loans. Blocka cash is available for download mostly on the Android and Apple app stores.

On Blocka, you can get a short-term loan for as little as N5,000 and as much as N50,000, depending on your credit score.

The following are the requirements for a Blocka cash loan:

  • Blocka cash loan app requires you to be up to twenty-one years (21) of age to benefit from the loan.
  • You need to upload either a National ID Card, Voter’s card, driver’s license, or any government-approved identification card.

Features of Blocka cash loan app

Blocka cash loans also include the following features:

  • iOS, Android, and Windows Phone
  • Loan rates range from N5,000 to N50,000.
  • Interest rate: 3% per month – a total of 10% per month
  • 36 percent to 120 percent Annual Percentage Rate (APR).
  • Duration of the loan: 60 to 180 days
  • Debit card, Quickteller, and direct transfer are all options for payment.

When determining whether you are eligible for a loan, Blocka Cash takes into account a number of variables. Past loan performance and credit score are examples of such factors.

James Crown Credit Limited, which has a money lender license given by the Ogun State Government of Nigeria, is the company behind the Blocka Cash app. Blockacash can be contacted at support@blocka.cash for more enquiries.

12. Okash

Recall the famous Opay app, which allowed you to conduct transactions, purchase airtime, pay bills, and book rides all at the same time? Okash is an Opay brand that was previously included in the Opay application..

Okash is now one of Nigeria’s independent lending applications, which means you may download and install just this loan app from the Playstore.

It allows you to borrow up to $50,000 without putting up any security, while the maximum loan amount you can get varies.

Therefore, if you’re interested in learning more about this loan platform, go to the Okash website.

13. JumiaPay

JumiaPay, a Jumia offering that provides users with fast loans, is the final lending app to be reviewed in Nigeria.

To request for a fast loan, download the app on Playstore, establish an account, scroll down to the ‘Financial Services’ section, and choose ‘Loans.’

The Jumia website has all of the information.

14. Migo Loan App

JumiaPay, a Jumia offering that provides users with fast loans, is the final lending app to be reviewed in Nigeria.

To request for a fast loan, download the app on Playstore, establish an account, scroll down to the ‘Financial Services’ section, and choose ‘Loans.’

The Jumia website has all of the information.

15. P2Vest

P2Vest is a prominent P2P new loan app in Nigeria that provides individuals with various loans. P2Vest is a peer-to-peer loan company that enables verified applicants with financial institutions searching for higher returns than savings accounts and fixed deposits.

P2Vest also offers a B2B loan platform called P2VFB, which allows firms to manage their money lending operations.

P2Vest is compatible with both iOS and Android devices. This peer-to-peer lending network offers loans ranging from N5,000 to N2,000,000 with a 12-month repayment period.

16. Page Financials

Page Financials is a CBN-licensed financial institution that provides personal loans in Nigeria. The organization states that applying for a loan with them is simple and straightforward, with a customizable documentation process.

Things to Take Note of:

  • iOS is the operating system.
  • Loan Amounts range from N100,000 to N5,000,000.
  • Rate of interest: (3.76 percent ) – Annual Percentage Rate (APR): 29 percent – 120 percent charged on a monthly basis
  • Loan terms range from 60 to 180 days.
  • Payment options include manual payment or auto-debit.

17. Kuda Loan

Kuda Bank is among Nigeria’s top famous online banks. Kuda gives its members a 0.3 percent daily interest overdraft (loans) of up to N50,000.

The amount of loan, however, may increase depending on how much you use the Kuda app.

18. Kredi Loan

Kredi is another fast-growing digital bank in Nigeria that also offers loans. Kredi has four loan types: Kredi SME Loans, Kredi Nano Loans, Kredi Salary Backed Loans, and Kredi Collateral Backed Loans.

The amount you can receive with Kredi is determined by your customer tier and the amount you are eligible and qualified for.

19. So kash

So Kash promises to be able to provide loans to both individuals and businesses in Nigeria. SoKash allows you to get up to N1 million Naira in 2 hours. There are no hidden fees, according to this loan app.

Using a credit bureau, this lending app assesses if you’re eligible for a loan. This is only applicable to individualis who have a decent credit score, individuals have a better chance of getting a SoKash loan accepted.

Things to Take Note of:

  • iOS, Android, and Windows Phone
  • Loan Amounts range from N3,000 to N1,000,000.
  • Rate of interest: 2% – 10% each month
  • APR (Annual Percentage Rate): NIL.
  • Loan terms range from 14 to 15 months.

SoftKash App/Web dashboard, direct paytack payment, direct debit card, and USSD are all options for making payments.

Additionally, You can also set your payment period with the SoKash loan app.

SoKash loan app is founded by EMA Finance.

20. Yescredit Loan

YesCredit is a lending application for the iPhone in Nigeria that provides a small loan amount.

These loans they provide out range from N5,000 to N50,000. It only takes a few minutes to get a YesCredit loan, and you can get it in your wallet and transfer it to your bank account right away.

Every time you repay your YesCredit loan, you increase your borrowing limit.

Things to Take Note of:

  • Platform: iOS
  • Loan 5,000 to 50,000 dollars
  • Interest rate: 4.5 percent to 35 percent, with a monthly interest rate of 5% to 29 percent.
  • APR (Annual Percentage Rate): 29 percent to 120 percent
  • Loan terms range from 60 to 180 days.
  • Direct transfer and debit/ATM card are the two methods of payment.


  • YesCredit will not issue you a loan unless you have collateral, guarantors, or papers. they give out loans to people who are 21 years and above.
  • They will, however, require additional paperwork for loans over a specified amount.
  • YesCredit is a product of YesCredit Limited, a Lagos State Government of Nigeria-licensed money lender.

Please contact Yescredit at support@yescreditng.com if you have any questions to ask or comment to make.

21. Irorun Loan App

Irorun is one of Nigeria’s newest iPhone loan apps. You can seek a loan through the Irorun app and have it disbursed to you in a couple of minutes.

Irorun believes that if you really want to acquire mobile loans in Nigeria with confidence, they should be your first pick. Irorun is primarily a micro-lending platform. They primarily focus on modest loans.

  • Platform: iOS
  • Loan Amounts range from N2,500 to N50,000.
  • Interest rates range from 4.5 percent to 35 percent per month, with a monthly interest rate of 5% to 29%.
  • APR (Annual Percentage Rate): 29 percent to 120 percent
  • Loan terms range from 60 to 180 days.
  • Payment options include manual payment or auto-debit.

These lending apps may ask for your bank account information as well as your BVN. Don’t mislead people with misleading information. So that you don’t get trapped while trying to achieve your goal, just borrow what you can afford to repay.

Early loan payback ensures an excellent credit score for larger loans and cheaper interest rates on subsequent loan requests.

Before applying for any loan, make sure you read the accompanying terms and conditions. Only use your bank account information on loan applications that have been confirmed.

I hope you you understand everything i have talked about here on low Interest Loan Apps in Nigeria for 2022. Feel free to share your thought below and I will be glad to respond to you.

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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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