With the high rate of inflation in Nigeria, getting access to quick cash is more important than ever. Prices of goods and services are getting higher, making the cost of living almost choking the living breath out of the living

For this cause, getting access to quick cash has become increasingly important, and loan apps have emerged as a popular solution. These apps offer easy and convenient ways to borrow money and get it delivered to your bank account in hours or less.

But among the vast array of loan apps available, there are those that come with stiff requirements and terms. The rejection rate of these apps is far higher than their approval rate, and you may end up wasting your time applying for these loans if you do not meet their criteria

So which loan app is sure to borrow you money right now? Read along, as we reveal a top ten list.

10 Loan Apps That Can Borrow You Money Instantly

The following list of apps are known for their fair terms, making it easier to get approved for a loan compared to other lenders.

1. Fairmoney:

Fairmoney is one of the most popular loan apps in Nigeria. It offers quick and easy-to-apply loans that come with fair terms. The app has a great user-friendly interface and strong customer support. Fairmoney makes sure that users enjoy a smooth borrowing experience when utilizing the app. You can access loans ranging from ₦1,500 to ₦2,000,000 with flexible repayment options.

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2. JumiaPay:

JumiaPay is a QuickCheck partner that not only simplifies online payments but also provides access to instant loans. With its extensive user base and seamless integration with the Jumia ecosystem, borrowers can easily access loans up to ₦3,000,000. The app’s transparent terms and competitive interest rates make it a reliable choice for quick financial assistance.

3. Branch:

Branch is another popular loan app that gives instant loans with no paperwork required. Through its innovative credit scoring model, Branch provides personalized loan offers that are tailored to users’ financial profiles. Borrowers can receive loans ranging from ₦1,000 to ₦200,000 within minutes directly to their bank accounts.

4. Aella:

Aella offers short-term loans with a hassle-free application process. They focus on helping individuals with emergency needs or those who need a quick financial boost. Download the Aella app to learn more about their loan products and eligibility requirements.

5. Carbon:

Carbon, which used to be known as Paylater, is a leading fintech platform offering instant loans to users across Nigeria. With Carbon, you can access loans up to ₦1,000,000 within minutes, without the need for collateral or paperwork. The app’s easy-to-understand interface and transparent terms make borrowing a seamless experience. Additionally, Carbon offers features such as bill payments, airtime purchases, and investment opportunities, empowering users to take control of their finances.

6. Renmoney:

Renmoney is a trusted name in the lending industry, that gives loans according to the repayment capability of users. Renmoney allows borrowers to access loans up to ₦6,000,000 with flexible repayment terms. Renmoney’s commitment to responsible lending ensures that users can borrow confidently while building their credit history.

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7. Umba:

Umba is another loan app that stands out for its innovative approach to lending. It gives instant loans based on users’ mobile data. With Umba, you can get loans of up to ₦250,000 without collateral or paperwork. Umba’s user-friendly app and transparent terms make it a preferred choice for those in need of quick financial assistance.

8. QuickCheck:

QuickCheck offers fast and reliable loans with minimal documentation. Leveraging artificial intelligence and machine learning, QuickCheck assesses borrowers’ creditworthiness efficiently. Users can borrow up to ₦500,000 with competitive interest rates and repay conveniently through various channels, including bank transfers and mobile wallets.

9. Okash:

Okash is a convenient loan app that provides small, short-term loans. Their application process is fast and easy, making Okash a good option for when you need a little extra cash quickly. Be sure to review the repayment terms before borrowing with Okash.

10. PalmPay:

PalmPay is a multifunctional app that offers not only payments and money transfers but also instant loans. With PalmPay’s Flexi Cash loan feature, users can apply for loans ranging from ₦2,000 to ₦100,000 with flexible repayment options. PalmPay’s partnership with leading financial institutions ensures that borrowers receive funds quickly and securely. Moreover, PalmPay rewards users with cashback and discounts for making transactions, enhancing the overall banking experience.

What You Need to Consider Before Borrowing:

While loan apps make it easy and quick to borrow money, it’s vital to borrow responsibly. Here are some key factors you need to keep in mind:

  • Interest Rates and Fees: Carefully review the interest rates and any additional fees associated with the loan. These can significantly impact the total repayment amount.
  • Loan Terms: Understand the loan duration and repayment schedule. Can you comfortably manage the monthly repayments within your budget?
  • Loan Amount: Only borrow what you absolutely need. Don’t get caught in a debt trap by borrowing more than you can manage.
  • Legitimacy of the App: Only borrow from licensed lenders regulated by the Central Bank of Nigeria (CBN). Verify the app’s licensing information before proceeding.
  • Data Privacy: Be cautious about apps requesting excessive data access. Reputable apps prioritize data security and adhere to relevant regulations.
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  • Can I borrow money from a loan app without BVN?

It’s highly unlikely to find a reputable, CBN-licensed loan app in Nigeria that doesn’t require your BVN.

  • What are the risks of using loan apps?

Unlicensed loan apps often have predatory practices like exorbitant interest rates, hidden fees, and aggressive collection methods. Avoid these apps at all costs.

  • What happens if I can’t repay my loan?

Failure to repay a loan can lead to additional late fees, damage your credit score, and potentially involve debt collection agencies. Borrow responsibly and only what you can comfortably repay.


The above-listed apps are genuine loan apps that allow you to borrow money instantly. However, even though these apps are valuable tools for quick access to cash, you need to practice responsible borrowing. Carefully research more on each of them, understand their terms and conditions, as well as their repayment plan, and then choose the one you think is best for you.


Many loan apps change their interest rates and repayment terms over time. Always review the terms and conditions carefully before downloading any loan app. B4loan doesn't promote any loan app, we just help you make informed decisions.

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