10 Best Instant Loan Apps in Nigeria 2024 | Carbon | Fair Money | Branch

The best instant loan apps in Nigeria are contained in this article. Read further to know their requirements for the fastest loans you can get.

Quick Loan Apps in Nigeria

Are you looking for the best instant loan apps in Nigeria? Billzonthestreets brings to you, the top instant loan apps regarding borrowing money online in Nigeria.

The Nigerian economy has been in jeopardy since the novel pandemic broke, thus leaving a host of people cash-strapped. This also applies to the international scene, as a good number of businesses have closed down.

However, daily life has to be met. People need to meet expectations regarding cash, hence the establishment of many fintech financial firms. These firms encourage the Nigerian populace to apply for soft loans via their official apps.

Having to access loans from financial corporations can be quite tedious, as you have to fill out long forms, provide collateral, etc. These prerequisites for just a small amount of money seem hectic, hence the use of these loan apps as an alternative.

The flexibility in repayment of the loans and the small interest rates attract the average Nigerian, who needs a quick loan, to these firms.

To know the best quick loan apps in Nigeria, continue reading below, and see money borrowing firms online.

10 Best Instant Loan Apps in Nigeria 2024

Without further ado, here are the best instant loan apps in Nigeria. But first, have these documents and information at your fingertips, as the app would require them during registration.

  • Bank Verification number
  • Bank Account number
  • ATM card details

Carbon (Pay later) Instant Loan Apps

Carbon Quick Loan Apps in Nigeria

This seems to be preferred among other quick loan apps in Nigeria.

Asides from giving you instant loans, carbon (formerly known as pay later) also allows you to invest in several services at your fingertips. You go to sleep and your money works for you.

With Carbon, easy financial transactions are always just a click away.

  • No waiting time or stressful bank visits. Their service is available 24/7 – you can transact whenever and wherever you need it, right on your mobile device.
  • Minimal requirements. Just have an Android device, a data connection, and a valid ID.
  • You can get funds, no matter who you are. Whether you’re a student, salary earner, or self-employed, Carbon loans can help you achieve your goals.
  • They display all terms clearly before using any of their services. What you see is what you get. No hidden charges, ever.
  • Get rewarded for positive actions. By repaying loans on time, performing transactions, or referring friends, you earn rewards on the platform such as larger loans, better rates, and free cash!

I have listed other special features you can get from the carbon loan app below:

  • Store money securely in our Wallets. NO fees and you get paid a monthly interest.
  • Get instant loans 24/7. Cashback when you repay on time. Loan top-ups are available. No late fees.
  • FREE funds transfer to any Nigerian bank account
  • Earn up to 16% interest on investments
  • Recharge airtime, buy data or pay your bills – all free
The app was not found in the store. 🙁


Palmcredit Quick Loan Apps in Nigeria

Palm Credit is also another fast loan app in Nigeria that tops the list. They are accessible to adults 18 years and above. They offer flexible loan products with no rollover fees, no origination fees, and no transaction fees. Just Interest on loan disbursed.

  • The app grants qualified people loans between #2000 and #100,000.
  • Their loan payback duration ranges between 14 days and 180 days. This varies and takes into consideration, the loan amount requested and disbursed.
  • Loans Interest Rate: 14% to 24%, Equivalent Monthly interest 4% ~4.7%, the Annual Percentage Rate (APR) on a Palm credit loan is 48% ~56%.
The app was not found in the store. 🙁

FairMoney Quick Loan App

Fairmoney Quick Loan Apps in Nigeria

FairMoney is also a quick loan app in Nigeria that has stood the test of time. It is a fast, reliable, and free Android mobile finance app, available in Nigeria. It’s a service provided by MyCredit Investments Ltd, a licensed lender.

  • They make getting loans and paying bills fast. FairMoney lets you also earn bonus cash when you invite your friends.
  • FairMoney offers loan amounts ranging from N1500 to N500,000, depending on your credit assessment results.
  • You can have a repayment plan that is as early as 2 weeks, down to 12 months. You choose this.
  • The interest rate on loans is between 2.5% to 30%. This varies regarding the amount requested and the payment timeline.
  • There are no additional fees for processing your loan or any hidden costs associated.

FairMoney is also more than an app for loans. You can pay utility bills, purchase airtime, and request more services which also come with rewards. Always remember to loan what you can repay.

The app was not found in the store. 🙁

Branch Instant Loan App

Branch is also a fast loan app in Nigeria that disburses loans in a blink of an eye. They are quite fast and reliable. They offer loans ranging from N1000 to N200,000. Trust me when I say the process is easy and works for just about any class of person.

Loan repayment terms are between 14 days to 12 months. This depends on the loan amount. There are no origination charges or late fees, just an interest rate that is between 1.7% and 22% monthly on an initial loan.

Besides just being a loan app, Branch also offers investment services where you can invest your money and earn returns on your investment. You can also have a wallet from which you can send funds to any account for free.

The app was not found in the store. 🙁


Blackcopper aims to create a vibrant user community, in addition to offering routine banking services. They aim to provide the necessary network and financial assistance to individuals and small company owners so they may prosper in the economy.

The app offers very low-interest rates on loans provided. For instance, the interest on a loan of #50,000 is #7,500. The loan duration is 1 month, thus making it one of the most flexible instant loan apps in Nigeria.

Besides giving out fast loans, the app also offers investment and saving services. You can also pay bills with the app, ranging from power unit purchases to cable TV subscriptions, and internet data subscriptions.

The app was not found in the store. 🙁


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