15 Apps to Borrow Money Online in Nigeria in 2025

While access to quick cash can make the difference between grabbing an opportunity and letting it slide away, borrowing from the right platform can decide how seamless the process will be and how much you can borrow. With that, knowing the apps to Borrow Money Online in Nigeria is a great advantage.

Gone are the days of endless lines in microfinance banks while weeks slide by in paperwork for approvals. Once you have your phone and a valid Bank Verification Number (BVN) handy and you can apply for collateral-free loans with transparent fees and same-day disbursement.

In this writing, we have narrowed the options to the best Apps to Borrow Money Online in Nigeria, which were all reviewed and rated based on interest rates, loan limit, approval speed, repayment flexibility as well as user experience.

Which is the best app to borrow money in Nigeria?

Actually, the best app to borrow money in Nigeria depends on what you’re looking for financially – lowest interest rates, highest loan ceiling, or fastest approval. But, for most people, the apps that stand out are Carbon and Branch. Carbon lends funds of up to ₦1 million with low-interest rates, credit score tracking, and even investment features.

Branch, on the other hand, is a digital bank offering instant loans, utility payments, and a debit card. Both apps are licensed, user-friendly, and very trustworthy, hence the reason why they are the best in Nigeria.

Also see: How to Apply for Long Term Loans in Nigeria

Which app allows me to borrow money instantly?

If you are interested in instant loans, then Branch and Palmcredit are two of the fastest available on the market. It takes Branch just a few seconds to approve a loan using phone data and transfer the funds directly to the bank account of the user.

It operates in a similar way as Palmcredit which boasts same day approval, no documentation, usually 5 minutes on credit editing your cards and instant online money lending. The two are excellent apps to borrow money instantly in Nigeria – right at that moment.

Read also: Boodle Loans: how to Apply

15 Apps to Borrow Money Online in Nigeria

There are a lot of apps available for to borrow money online in Nigeria. These apps are well known digital financial platforms which unique features. Each of the apps listed below is detailed with loan ranges, interest rates, eligibility, and disbursement times.

Branch
Carbon (formerly Paylater)
FairMoney
OKash
Palmcredit
WeCredit
QuickCheck
Renmoney
Umba
Aella Credit
ALAT by Wema Bank
Sôkôloan
Lendigo
Migo (formerly Kwikmoney)
Kiakia

1. Branch

Branch has remained one of the most reputable apps that borrowing money online in Nigeria, granting loans instantly and without requiring cumbersome documentation or collateral. Loans can be accessed depending on user needs from around ₦2,000 to ₦500,000 or even higher- with more flexible repayment options.

Apart from lending, the app provides services such as bill payments and investments, everything right on the mobile platform.

Loan Range: ₦2000–₦500 000
Interest: 4–15 % monthly
Tenure: 4–52 weeks
Requirements: BVN, valid ID, smartphone
Disbursement: Minutes after approval

2. Carbon (formerly Paylater)

Among the most trusted apps for online borrowing, Carbon has grown to encompass everything a user might need: loan payments, bill payments, credit scores, and investments. One can apply for loans with Carbon up to ₦1 million; one decision can be returned in minutes, and older users get rewarded for early repayments.

Loan Range: ₦5 000–₦1 000 000
Interest: 5–30 % per loan
Tenure: 61–182 days
Requirements: BVN, smartphone, debit card
Disbursement: Under 1 hour

3. FairMoney

FairMoney gives quick loans collateralized against nothing and provided directly to mobile users. Loan amounts range from ₦1,500 to ₦1 million, all while providing options for utility bill payments and a debit card service. Of the money borrowing apps in Nigeria, FairMoney is unique for combining the features of mobile banking with personal lending.

Loan Range: ₦1,500–₦1 000 000
Interest: 4–15 % flat rate
Tenure: 91 days
Requirements: BVN, ID, proof of income
Disbursement: 5–10 minutes

4. OKash

OKash is a sub-product of the OPay platform where users can get loans without going through the traditional credit checks. Offers for loans begin at ₦3,000 and can go up to ₦500,000 depending on your profile.

It is one of the more lenient apps to borrow money online in Nigeria towards users that engage in OPay transactions.

· Loan Range: ₦3 000–₦300 000

· Interest: From 0.2 % per day

· Tenure: 91 days

· Requirements: BVN, phone number

· Disbursement: Instant

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5. Palmcredit

Palmcredit is a user-friendly app that allows for easy short-term loans with no collateral or guarantor required, starting from ₦2,000 and increasing according to repayment history, maxing out at ₦300,000. This application remains among the very top choices in Nigeria for short term loaning and quick money disbursement.

· Loan Range: ₦2 000–₦300 000

· Interest: 1 % per month

· Tenure: 7–90 days

· Requirements: BVN, valid ID

· Disbursement: Within 1 hour

6. WeCredit

WeCredit is an up-and-coming platform offering soft loans to Nigerians with little or no documentation. It offers competitive interest rates, personalized credit limits based on your transaction history, and is among the newer applications offering loans in Nigeria; focused on salary-earners and students.

· Loan Range: ₦10 000–₦200 000

· Interest: 10–30 % APR

· Tenure: 7–30 days

· Requirements: BVN, smartphone

· Disbursement: 5–10 minutes

7. QuickCheck

QuickCheck is a tech-driven lending platform that uses AI and data science to give intelligent loan decisions within minutes.

It provides loans worth up to ₦500,000 with only your phone data and BVN for eligibility. It is one of the more intelligent apps to borrow money online in Nigeria targeting low-risk borrowers.

· Loan Range: ₦2 000–₦500 000

· Interest: 1–30 % per month

· Tenure: 7–30 days

· Requirements: BVN, basic KYC

· Disbursement: Under 30 minutes

8. Renmoney

Renmoney is a digital lender providing bigger loans to smooth personal and business clients with clean credit histories.

Ranging from ₦50,000 to ₦10,000,000, it is among the most potent app to borrow money in Nigeria. Renmoney also operates formalized KYC procedures, including ID verification and bank statements.

· Loan Range: ₦50 000–₦10 000 000

· Interest: 1.33–3.42 % monthly

· Tenure: 6–60 months

· Requirements: BVN, proof of income, valid ID

· Disbursement: 24–48 hours

9. Umba

Umba is a mobile banking application with instant credit plus fully digital account experiences. Users can borrow small loans beginning at ₦1,000 and aspire for high limits gradually.

It ranks during the top in modern apps to borrow money online in Nigeria due to its low fees and transparent loan terms.

· Loan Range: ₦1 000–₦500 000

· Interest: 5–20 % flat

· Tenure: 7–91 days

· Requirements: BVN, smartphone

· Disbursement: Within 1 hour

10. Aella Credit

Aella Credit caters to both individuals and businesses, especially those looking for flexible short-term loans. Loans range from ₦5,000 to ₦1 million, depending on your risk profile and credit score. Aella also bundles financial services like health insurance and investment options for its users.

· Loan Range: ₦5 000–₦1 000 000

· Interest: 5.99 % monthly

· Tenure: 7–91 days

· Requirements: BVN, valid ID

· Disbursement: Less than 1 hour

11. ALAT by Wema Bank

ALAT is the first fully digital bank in Nigeria and offers salary-backed loans to its eligible customers. It loans up to ₦5 million with a repayment period extending to 12 months.

Among banking apps to borrow money in Nigeria, ALAT has earned a reputation for its speed, simplicity, and reliability, thanks to its affiliation to a bank.

· Loan Range: ₦20 000–₦5 000 000

· Interest: 1.33 % monthly

· Tenure: 6–12 months

· Requirements: BVN, proof of income

· Disbursement: Same day for salaried clients

12. Sôkôloan

Sokoloan app is used for granting short-term loans to Nigerians so that they may solve their immediate financial crunch. Borrowers may access loans within a range of ₦3,000-₦150,000 with very little documentation.

It is one of the fastest apps to borrow money online in Nigeria, looking best in emergencies with quick repayment.

· Loan Range: ₦3 000–₦150 000

· Interest: 5–30 % APR

· Tenure: 7–30 days

· Requirements: BVN, ID

· Disbursement: Instant

Also read about Latest List of Federal Government Loans and Grants in Nigeria 2025

13. Lendigo

Lendigo is a loan app mainly focused on small and medium-sized enterprises in Nigeria. It provides working capital loans ranging from ₦100,000 to ₦10 million, depending on the business profile.

It’s perfect for business owners looking for serious capital and one of the very few business-focused apps to borrow money in Nigeria.

· Loan Range: ₦50 000–₦10 000 000

· Interest: 1–3 % monthly

· Tenure: 6–60 months

· Requirements: BVN, business documents (for SMEs)

· Disbursement: 24–72 hours

14. Migo (formerly Kwikmoney)

Migo allows its users to borrow money through USSD codes or web access, thus foregoing the need for a mobile app. Loan offers vary from ₦500 to ₦500,000 with flexible repayment requirements.

It stands out among the apps to borrow money online in Nigeria most accessible to even those without a smartphone or any data.

· Loan Range: ₦500–₦500 000

· Interest: 1–3 % daily

· Tenure: 3–90 days

· Requirements: BVN, valid ID

· Disbursement: Instant

15. Kiakia

Kiakia is a peer-to-peer lending platform using intelligent bots and algorithms to match borrowers with private lenders. Loans can go as high as ₦500,000 depending on your profile and transaction history. It’s one of the few apps to borrow money in Nigeria that combines P2P financing with fast tech-driven approval.

· Loan Range: ₦20 000–₦500 000

· Interest: 2–14 % monthly

· Tenure: 3–9 months

· Requirements: BVN, bank statement, valid ID

· Disbursement: 24 hours

FAQs

Can FairMoney borrow me 200k?

FairMoney offers loans of up to N3,000,000 for a period of up to 24 months

Does OPay give loans?

Accessing Merchant loans on OPay comes with a 3% interest rate for short-term loans and up to 15% interest rate for long term loans

Can I borrow from Lapo online?

You can now apply for our SME loans online

Conclusion

The availability of apps to Borrow Money Online in Nigeria has opened the avenues of credit, making the process of borrowing money faster, more transparent, and increasingly personalized.

So, if you are looking for emergency funding, trying to scale a startup, or just smoothing out your monthly cash flow, these apps offer competitive rates, flexible tenures, and seamless digital experiences to handle your needs.