Do you need instant loans in Nigeria or asking to know which app gives loans immediately in Nigeria? If you answered yes, then this post is gonna help a long way.
In Nigeria, obtaining instant loans has become increasingly convenient and hassle-free with the advent of various mobile loan apps.
These apps offer quick access to funds, flexibility in repayment options, and cater to the diverse financial needs of individuals.
So in this article, you’ll explore some popular apps that give instant loans in Nigeria.
I’ll be starting their loan disbursement speed, repayment flexibility, borrowing limits, and necessary requirements.
Without much Ado, let’s delve into knowing “Instant Loan in Nigeria – Which App Gives Loan Immediately in Nigeria”.
Instant Loan in Nigeria – List of Loan Apps That Give Loans Immediately in Nigeria (2023)
Many financial apps gives loan to borrowers in less than 24 hours time but those stated in this article tend to o be faster provided the loan is approved.
Below is a list of the finance apps that gives instant loan in Nigeria and indirectly, it provides a straightforward answer to the question “Which app gives loan immediately in Nigeria” today.
- Alat by Wema
- Quickcheck etc.
Above is the list of apps that gives instant loan in Nigeria in 2023.
Now let’s learn more about each of the lists below:
Alat by Wema
Alat by Wema is a mobile banking app that provides instant loan in Nigeria to its borrrowers.
With Alat, you can access loans swiftly, often within a few seconds to 5 minutes of application submission.
The app offers flexible repayment plans, allowing you to choose repayment durations that suit your financial capabilities.
The borrowing limits on Alat range from N1,000 to N5,000,000, depending on your creditworthiness.
Requirements usually include a valid bank account and BVN registration, being at least 18 years of age and a maximum of 65 years, having a stable source of income, etc.
Page Financial is another reliable loan app that offers instant loans in Nigeria to its prospective users.
This app provides a very fast or quick, straightforward loan process and funds are often disbursed within a few seconds once the loan request is approved.
Page Financial offers its amiable customers flexible repayment options, including, weekly, and monthly installments, and provides personalized loan limits based on your income and credit score.
Note: The borrowable amount usually varies based on your credit score. The maximum loan amount for first-time borrowers is N5,000 and the maximum for long-term users is N5,000,000.
This bank has had its requirements, which include the following:
- Valid bank account
- Must be at least 18 years old
- Must be willing to provide your bank verification number
- Willingness to provide the contact details of guarantors is also important
- Must be employed or self-employed etc.
- Carbon loan app etc.
This also serves as answer to “Instant Loan in Nigeria – Which App Gives Loan Immediately in Nigeria”?.
MySpecta is a reputable loan app that provides instant loans without collateral. The app prides itself on its speedy loan disbursement, with funds often credited to your account within a few seconds to 5 minutes once your loan is approved.
MySpecta offers individual borrowers flexible repayment plans, enabling you to repay the loan in installments over a specified period.
The borrowing limits on MySpecta can range from N10,000 to N5,000,000, depending on your creditworthiness.
To qualify as a borrower, you will need a bank account, a steady source of income, and a valid means of identification likewise other requirements similar to those mentioned earlier in this article.
Fairmoney is a user-friendly loan app that offers instant loans in Nigeria.
If you are still asking “Which App Gives Loan Immediately in Nigeria” fairmoney cannot be set aside from the list.
The loan application process is swift, and upon approval, funds are disbursed to your bank account within 5 minutes maximum except if there’s a network interruption. Fairmoney provides flexible repayment options, including weekly or monthly installments.
The amount of loan one can borrow from FairMoney loan app ranges from the sum of N2,500 to N5,000,000.
This loan app also allows users to make flexible repayment. However, for a loan to accrued to you, you must have met all the requirements.
Migo, formerly known as KwikMoney, is a popular loan app in Nigeria that offers instant loans with nothing but simple application process.
Migo prides itself on its instant loan disbursal, often transferring funds to your account within few seconds to minutes of approval.
Repayment flexibility is a notable feature of Migo, allowing borrowers to repay their loans in installments over a specified period.
The borrowing limits on Migo range from N500 to N1,000,000, depending on your creditworthiness.
To access a loan through Migo, you will need a bank account, a valid means of identification, and a mobile phone.
Okash is a reliable loan app that provides instant loans in Nigeria, particularly designed to meet urgent financial needs of individuals.
The loan application process is fast, and once approved, funds are disbursed to your bank account promptly. Okash offers its users flexible repayment options, including weekly or monthly installments, allowing borrowers to manage their repayments conveniently.
The borrowing limits on Okash can range from N3,000 to N500,000, based on your credit evaluation.
Requirements most times include having a bank account, a valid means of identification, proof of income, and being at least 18 years of age.
Also, before you can get the loan offer, you will need to download the app either from the Google Play Store or Apple app store depending on your phone type.
Renmoney is a reputable loan app that has extended features beyond loan offers. This loan is one of the loan apps that provided answers to the question” Which app gives loans immediately in Nigeria”.
It is a loan app that offers instant loans without collateral requirements to its users. The loan application process with Renmoney is quick and hassle-free, with funds often disbursed within a few minutes of approval.
When it comes to loan repayment, Renmoney loan app offers flexibility repayment period, it is a key feature of Renmoney, providing borrowers with various options to repay their loans in installments over a chosen duration.
With Renmoney financial app, the amount of loan you can get ranges from N50,000 to N6,000,000 depending on your credit score.
Also, before a loan can be accrued to you, it’s essential to be eligible by meeting their requirements which includes; proof of income, valid means of identification, provision of BVN, having a bank account etc.
Wecredit is yet another legitimate loan app, it is a reliable loan app and amongst the apps that offer instant loans in Nigeria in 2023, catering to both individual and business needs.
The Wecredit loan app process is quite simple and requires no collateral or any paperwork, everything can be done online just in few minutes.
You can get a loan just by downloading the app from app store, launch the app, fill the needed information and sign up. After sign up apply for the loan and while applying for the loan, you need to ensure you meet all the requirements.
After applying for the loan may be provided an instant loan but if not, you can try again.
Wecredit like other mentioned loan app mentioned earlier also provides flexible loan repayment options which allow users to conveniently borrow and repay their loans in weekly or monthly installments.
The borrowable loan amount ranges between N10,000 to N1,000,000.
The requirements you need to meet is also similar to those mentioned earlier in this article.
Palmcredit is one of the oldest and best loan apps that provide users instant loans in Nigeria today, this app maintains its trustworthiness and remains one of the very best today.
As an individual, you can get a loan that ranges from sum N2,000 to N500,000.
This loan will take nothing less than 5 minutes for disbursement once approved. However, it’s important you keep in mind that there may be delay caused by network errors sometimes.
Also, when it comes to loan repayment, Palmcredit offers its users a flexible loan repayment, they allow users to make repayment either monthly or weekly. But note, if the borrowed amount is on the lower side, the loan need to be repaid in two weeks time.
In terms of loan requirements, the Palmcredit loan requirements are simple as they don’t require any paperwork work or collateral.
Quickcheck is a popular loan app in Nigeria that provides instant loans to individuals with urgent financial needs. The loan application process is fast and straightforward, and funds are usually disbursed to your bank account within a few hours of approval.
Quickcheck offers flexible repayment options, including weekly or monthly installments, making it easier for borrowers to manage their repayments.
The borrowing limits on Quickcheck usually range from N1,500 to N500,000, depending on your creditworthiness and repayment history.
To access a loan, you will need a bank account, a valid means of identification, and proof of income.
Carbon Loan App
Carbon, formerly known as Paylater, is an old and widely recognized loan app in Nigeria that offers instant loans to individuals.
With Carbon, the loan application process is quick and seamless, and funds are usually disbursed to your bank account within minutes of approval.
Repayment flexibility is a key feature of Carbon, allowing borrowers to repay their loans in installments over a chosen period, thereby providing financial convenience.
The borrowable amount on Carbon loan app can range from as low as N1,500 to N1,000,000, depending on your creditworthiness and repayment history.
For you to qualify for Carbon loan, you will need a bank account, a valid means of identification, and proof of income, provision of BVN.
FAQs On Instant Loan in Nigeria – Which App Gives Loan Immediately in Nigeria (2023)
I have provided a list of frequently asked questions on related questions to “Instant Loan in Nigeria – Which App Gives Loan Immediately in Nigeria”, they can be seen below:
How quickly can I get a loan from these apps?
The loan disbursement speed varies depending on the loan app you choose. However, in general, many of these loan apps aim to provide instant loans, with funds often disbursed within minutes to a few hours of loan approval.
Are the repayment options flexible?
Yes, most of these loan apps offer flexible repayment options.
They provide choices for borrowers to repay their loans in installments over a specified period, such as weekly or monthly payments.
This flexibility allows borrowers to manage their repayments based on their financial capabilities.
How much can I borrow through loan apps?
The borrowing limits on many loan apps vary based on several factors, including your creditworthiness, repayment history, and the specific policies of the app.
The loan amounts usually range from as low as low as N500 to as high as N10,000,000, depending on the app and your individual circumstances.
What are the requirements to access loans through these apps?
The specific requirements may vary slightly among the loan apps.
However, common requirements include having a bank account, a valid means of identification (such as a national ID card or driver’s license), proof of income (salary account statement or utility bills), and sometimes, a valid Bank Verification Number (BVN).
Do loan apps require collateral?
Many of the loan apps mentioned in the list do not require collateral to access loans. They offer unsecured loans, meaning you can borrow money without pledging any valuable asset as collateral.
However, I’ll advise you to carefully review the terms and conditions of each app to confirm their requirements before applying.