This article will help you learn about the 4 top instant loan apps in Nigeria.

There are certain circumstances that warrants us to seek loans at times, either for personal use or business purposes.

For instance, when we have financial difficulties, or bills to pay, and there is no money in handy; we will always have the urge to look for where to lay hands on instant cash.

And seeking for a loan is one of the easiest means.

In Nigeria today, there are scores of financial loan lending platforms that are offering services to people and businesses of all levels.

However, out of the many loan platforms we have in Nigeria, it is not all of them taht provide reliable and rewarding services for their customers.

The best loan services must be able to provide instant payment, have a low annual interest rate, and a longer repayment time frame.

Most importantly, they should be safe and have instant approval of loan requests.

In no particular order, let me present to you the 4 instant loan apps in Nigeria that providing financial credit services to people, established businesses, and most importantly, the often-ignored small-medium enterprises SMEs.

1. Okash.

Okash is one of the top instant loan app available in Nigeria.

The loan amounts on this app falls between ₦8,000 to ₦500,000.

Repayment periods is around 30 days to 1 year, and they have a monthly interest rates between 9.1%.

It is claimed on Google play that over 8 million customers rely on them for loans.

You can FOLLOW THIS LINK to download the Fair Money app and get your loan instantly.

2. Branch.

Branch was launched in 2017, and it is one of the top instant loan app that makes getting loans online very simple and easy.

This app uses the user’s phone data and SMS history to verify their identity and create a credit score. 

It is available in 4 countries: Nigeria, Kenya, Tanzania and India; but its loan amount and interest rate in each of these countries are quite different. 

In Nigeria, the loan amounts ranges from ₦1,000 to ₦200,000 with monthly interest of 1.6% and 23%, depending on the loan amount and repayment history.

Users on Branch have the option to choose repayment terms for up to 336 days, and a minimum of 60 days.

You can FOLLOW THIS LINK to download the Fair Money app and get your loan instantly.

3. Palm Credit.

Palmcredit is another top instant loan app which allows it’s customers to borrow money instantly online.

They have a flexible repayment plan that ranges from 7 to 14 days for a start, and

They have a flexible repayment plan that ranges from 7 to 14 days for a start, and 91 to 365days as you advance as a result of your repayment.

Their interest rate is not too high.

Loan amount on palmcreditc falls between the ranges of ₦5,000 to ₦300,000.

Palmcredit’s interest rate is between 4% to 24%.

Rollover or transaction charges are not applicable on; and if you can repay their loan on time, you will receive a reward with high credit score and reduced interest rate. 

You can FOLLOW THIS LINK to download the palmcredit app and get your loan instantly.

Read also: How To Start A POS Business In Nigeria In 2022 And Beyond.

4. Fair Money.

FairMoney is another top instant loan app available in Nigeria and India.

The loan amounts on this app falls between ₦1,500 to ₦500,000.

Repayment periods is around 61 days to 1 year, and they have a monthly interest rates between 2.5% and 30%. 

It is claimed on Google play that over 3 million customers rely on them for loans.

You can FOLLOW THIS LINK to download the Fair Money app and get your loan instantly.

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Last modified: November 4, 2021

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