When it comes to taking quick loans, only a handful of digital lenders can truly be trusted to deliver while keeping you safe. While most might abuse access to your information, a handful of others will treat you fairly as a lender as long as you stick to the terms of the lending contract. In recent times, most borrowers have experienced unfettered harassments from these digital lenders who reach out to third party contacts and beneficiaries to malign them.
Due to numerous cases of these abuses, the Nigerian FCCPC has cautioned a lot of digital lenders to desist from randomly calling and abusing borrowers. The alternative solution is to device other means of securing loans without going the misinformation and security information leaking route.
In this post, we have discussed the 15 best loan apps with the best interest rates you can go for today. Not only will these apps lend you money, they will also increase your borrowing limit gradually. The major setback for most lenders are the crazy interest rates attached to the borrowed amounts and the short turn around time. A short loan tenure makes paying back hard for borrowing customers.
So let’s have it – the best loan apps in Nigeria today!
FairMoney
FairMoney is one of the best digital lenders in the country. It gives both Personal and Business loan; least amount on personal loans is N10,000 and can go as high as N40,000 for new users. Business loans can get as high as N5 million Naira. Early repayment increases credit score and gives room to borrow higher amounts. Get started with FairMoney and you can borrow money within 24 hours. Download the app from Apple store or Google PlayStore.
FCMB FastCash
First City Monument Bank offers customers a quick, responsive loan service called FastCash. This loan is open to long-term customers who have used the bank’s services for years. FCMB’s FastCash can give borrowers as much as N150,000 for their cash needs depending on how often you borrow and the timeliness of repayments. If you have an FCMB account, now might be the best time to start using it while making inquiries about with your account officer on how to access the FastCash service.
Carbon
Carbon loan app gives loans but rather small amounts. The procedures are fairly straightforward but disbursed amounts are small. If you are looking at borrowing a decent sum of money, Carbon isn’t for you. However, if what you need is a quick, minute amount, download the Carbon app on your phone’s app store and apply for a loan.
Branch
Branch works similarly like Carbon but offers slightly higher loan amounts. The protocols to apply is simple but strict as all documentation must be done before money is disbursed to borrower’s account. App is available on Apple store and Playstore.
RenMoney
RenMoney is a friendly lender for both personal and business loans. Interested borrowers can get started by visiting the RenMoney website to apply. Documentation must be complete before any amounts are sent out, usually within 48 hours of approval. RenMoney offers a convenient repayment tenure and interest rate is fair compared to many lenders.
OKash
OKash is the lender application offered by Blue Ridge Microfinance Bank Nigeria. This platform offers quick disbursement of cash especially for emergency needs. Repayment is usually 14 days and interest rates are mid-range. OKash is one of the best digital lenders anyone can have on their speed dial. Quick disbursement, relaxed documentation and a friendly tenure are what makes OKash a good choice.
PalmCredit
PalmCredit is similar to OKash as it gives loans quickly and easily. PalmCredit is a top recommended digital lender for those moments when you need urgent cash for a personal issue. Start borrowing from PalmCredit by downloading the app today and filling in your details. Cash disbursement is fairly easy with this application.
QuickCheck
This loan company has strict protocols that must be passed before disbursing loans to anyone. The beautiful part of QuickCheck is their property purchase scheme. If you are looking to buy phones, gadgets and general appliances, QuickCheck can help you get funding to buy them while you pay back the loan. Apply for a loan on QuickCheck through their app on Apple or Play store.
XCredit
XCredit is similar to PalmCredit. Same documentation, loan amounts available and tenure. Users can download the app on Playstore, register and fill in personal details and apply right away. Loan disbursements is quick, usually within 24 hours.
PalmPay
PalmPay offers microfinance and digital banking to Nigerian customers. Fast, easy but secure banking are the trademarks of PalmPay. In addition to this, PalmPay users can access small term loans to solve their urgent needs. Download the PalmPay app and set up an account to enjoy digital services and lending.
Kuda
Kuda is a microfinance bank offering seamless, fast online banking to the Nigerian market. The awesome thing about Kuda is that they offer lending to active users who bank with them. As long as you have full documentation and have completed KYC on your account, you can access loans and overdrafts as an active Kuda Bank customer.
EasiMoni
EasiMoni offers fast and reliable digital lending to users. Amounts are usually below N30,000 for new users and tenure can range between 7 to 14 days. If you have emergency cash needs, EasiMoni is one app you can always depend on to disburse funds whenever you need it. Download the EasiMoni app on Google Playstore and start using it today when you have urgent cash needs.
EasiCash
Just like EasiMoni, EasiCash offers similar ease of borrowing money, tenure and interest rates. Users can access funds really quickly and pay back their loans within 14 days. Download EasiCash on the Google Playstore today and start borrowing and paying back today.
9jaCash
9jaCash offers decent and fast money lending with repayment pegged at 7 and 14 days. Unfortunately, the interest rate on this app is higher than most. The app platform disburses money within a few minutes after applying. 9jaCash is effective for quick disbursement of funds when you need it urgently.
9Credit
While 9Credit disburses money to borrowers in quick fashion, repayment period is usually 7 days and interest rate is high. If you must use 9Credit, only do so when you’ve exhausted every other option. In addition to high interest rate and a short tenure, borrowing from 9Credit means giving room to unwanted calls and harassments when you default on repayment by even a few hours.
