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Top 7 Loan Apps to get Instant Loan without Collateral In Nigeria 2021

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Loan is essential to business owners as well as individuals who are in need of extra-cash in handling some financial issues around them when all means of getting cash has been exhausted.

Banks do offer loans but the process of accessing loans from the bank can be arduous for small amount of loan for only a short period of time. The Fintech revolution in Nigeria has made it easier for individuals and business owners to access quick loans online with little or no stress.

In the course of this, we’ve reviewed eight (8) legit loan apps for your online loan.

Instant Loan Apps 2021

The following is a list of quick and instant loan apps in Nigeria.


Branch loan app

Branch is a simple loan app in Nigeria and Kenya. Getting instant loans on the Branch App is so fast and easy. With branch loap app, you’ll sort out your financial issues. The branch loan app is easy to navigate. You can download the app on Google play store.

Branch offers loans from ₦1,500 to ₦150,000. The Loan terms ranges from 4 – 64 weeks. Interest ranges from 14% – 28% with an equivalent monthly interest of 1% – 21%, depending on selected loan option.

Download Branch App for access to quick and instant loans.


Carnok loan app

Carbon offers loans of up to 500,000 Naira without any collateral. Once your loan request is approved, you’ll typically receive within 1 – 3 business days. Making on-time repayments increases your credibility and can grant you access to higher credit limits for your next loan.

Download the Carbon App to get quick loans at a very affordable rates.


PalmCredit is a virtual credit card that allows you access loans of up to ₦100,000 within minutes with the use of your mobile phone at anytime and anywhere you find yourself.

With PalmCredit, getting a mobile loan is supper easy. Apply for your credit limit in minutes, then take as many instant loans as you need without further any approval steps. It’s a credit revolution!
As soon as you repay your Palm credit loan, your credit score will be updated. Repay on time to raise your credibility and watch your limit grow to N100,000.

Download the Palmcredit App to get instant mobile loans at an affordable rates.

Aella Credit

Aella Credit is a platform that make it easier for Africans to gain access to financing. They mainly focuse on employee lending and empowerment, the company was affiliated with three main credit bureau agencies in Nigeria in providing quick and affordable loans with no paperwork to its customers.

Aella Credit uses a proprietary credit scoring algorithm in determining the credibility of its users.
Over five years of market data and analysis, this algorithm was built after the team gathered, they process an applicant’s eligibility by considering social and demographic factors as well as their debt to income ratio.

Download Aella Credit App now to get started.


Fairmoney loan app

FairMoney offers short-term loans to small businesses and individuals in Nigeria in helping cover their urgent needs, bills, business and a lot more. You access loans at any time and anywhere on FairMoney within 5 minutes.

Their packages include education loan, business loan, personal loan and more. With the use of technology advancement, they are able to provide a speedy and efficient loan app to all their esteemed customers.

fairmoney loan app nigeria


QuickCheck is another modern lending platform for small businesses and individuals. QuickCheck uses mobile technology to enabling individuals and small businesses to gain access to financial credit.

According to the platform, users can access quick and hassle-free loans of up to 30,000 Naira without any collateral for a duration of either 15 or 30 days.

The QuickCheck App is available on Google Playstore.


KiaKia is a mobile web app that allows you access personal and small business loans and also allows savers to lend out funds at very negotiated interests through intuitive conversations.

KiaKia utilizes psychometry, big-data, machine learning and digital forensics for its proprietary credit scoring and credit risk assessment algorithm to provide direct and peered personal and business loans to millions of individuals and SMEs without credit information.


While most of these online loan platforms claim to offer quick loans without any collateral, it is advisable to carefully go through their Terms & Conditions (T&C) before any application. Also consider the interest rate and payback period before applying because as a business owner you won’t like to go for a very short payback period loan unless you very sure you will earn back the money in no-time.

Please do well to share this article. Thanks for reading.


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