Several loan apps in Nigeria offer quick and accessible financial solutions. Here are five notable options:

1. Branch

Branch is a digital finance app that provides instant loans without the need for physical documentation. With over 10 million downloads and a user rating of 4.5 stars, it offers personal loans ranging from ₦2,000 to ₦500,000 within 24 hours. Interest rates vary between 3% and 23%, with repayment terms from 62 to 365 days. Additionally, Branch allows users to save and transfer money through its virtual wallet.

2. FairMoney

FairMoney is a lending platform that provides quick loans within minutes. It offers short-term loans to cover immediate expenses and emergencies, requiring only your bank verification number (BVN) for credit assessment. Loan amounts can reach up to ₦20 million, with interest rates ranging from 5% to 15%.

3. QuickCheck

QuickCheck utilizes machine learning to predict borrower behavior and expedite loan applications. With over one million downloads and a user rating of 4.5 stars, it offers loans from ₦1,500 to ₦500,000, with a 5% interest rate for the first month and repayment periods between 91 and 365 days.

4. PalmCredit

PalmCredit is a reliable loan app that allows users to receive up to ₦200,000 within 24 hours, with a minimum loan amount of ₦1,000. Repayment periods range from 4 to 40 weeks, and interest rates vary based on the loan amount and repayment history. No collateral or documentation is required; only a phone number and BVN are needed.

5. Carbon

Formerly known as PayLater, Carbon is a simple lending platform that provides access to loans within minutes. It offers short-term loans to cover immediate expenses and emergencies, requiring only your BVN for credit assessment. Loan amounts can reach up to ₦20 million, with interest rates ranging from 5% to 15%.  Please note that loan amounts, interest rates, and repayment terms may vary based on individual profiles and the specific terms of each platform. It’s advisable to review the terms and conditions of each app before applying.