Best loan app in Nigeria 2022

Loan apps give quick and instant credit and are different from the traditional loans that are available with money deposit with financial institutions in Nigeria which takes forever to process. The lending process for loan apps is quick, with no need of any collateral, documentation or guarantor.

In this article, I will give out the top five (5) best loan apps in Nigeria with less documents details that customers privacy with friendly customer care

Carbon ( Paylater )

Carbon, formerly and popularly known as Paylater, is the first on our list of the top 5 best loan apps In Nigeria. This lending app gives instant cash to borrowers once application has been approved to its users. Quick cash loan from Carbon do not require collateral, documents or guarantors.

At your first try, you may not be able to access big funds, you start by borrowing small, and paying back as at when due, then you can have access to bigger funds. The loan platform is available 24/7.


Branch instant loan app is the 2nd best loan app in Nigeria and, like Carbon, progressively unlocks more significant loan amounts.

Among the best digital money lender in Nigeria, Branch’s 1.5% to 20% monthly interest is the most competitive. The loan app’s APR of 18% to 260% is considerably lower than that of Fairmoney, Carbon, and other loan app in the mobile loan sector.

Fair money

Fair money can be regarded as the third best loan app in Nigeria 

Fair money Loan amounts range between ₦1,500 to ₦1,000,000 with repayment periods from 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%)


Easemoni can be regarded as the fourth best loan app in Nigeria with less interest and friendly customer services officers

Moreover EaseMoni allows a maximum period of 24 hours from the moment of disbursement within which the loan can be cancelled. If you have applied for the loan by mistake, please repay the principal within 24hours, then contact our customer service at your earliest convenience to clear the loan.


Newcredit is regarded as the fifth instant loan app in Nigeria  in our list. The personal loan app that gives Nigerian collateral-free loans of up to N300,000. The app uses Artificial Intelligence (AI) to analyze prospective customers financial records, including the bank transaction SMS on their phones and their credit worthiness from other lenders.

Manuel Santibenez
Manuel Santibenez is the Editor and Publisher of Daily Gist Hub. A native of Kwara state and a Christian by faith. He bagged his Diploma Certificate in Public Administration at the Ogun State Institute Of Technology Igbesa. His networth is estimated around $50k
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