Top 10 Loan App In Nigeria With Low Interest (APPLY in 5 Minutes)

In today’s world, obtaining loans with short repayment terms, cheap interest rates, and no requirement for collateral is no longer a difficult task. You can get a loan in just a few clicks from the convenience of your own house thanks to the development of loan applications on mobile devices.

However, not all lending apps provide loans with interest rates that are competitively priced. As a result, you are going to get some information about loan apps in Nigeria that have cheap interest rates. When you are looking into various financing options, you can use this as a reference point.

Applications for loans in Nigeria with cheap interest rates

What is an application for a loan?

Borrowers submit their requests for instant loans through the use of a digital software known as a loan application. To put it simply, a lending app is an application that allows users to obtain quick loans.


The application for the loan can be made directly through the mobile software, which can be obtained by simply downloading it to your smartphone. Your loan application will likely be approved in a brief period of time, subject to the lenders’ approval of the terms and conditions of the loan.

The top ten loan applications in Nigeria, offering cheap interest rates

The following is a rundown of the best five loan applications in Nigeria that offer competitive interest rates, in no particular order:

1. Carbon Credit

Carbon has emerged as a prominent digital player in Nigeria in recent times. This app, in its most basic form, not only provides you with access to loans, but it also provides you with opportunities to engage as well as the ability to perform activities such as the transfer of funds, the payment of bills, the purchase of airtime, and other similar activities.

You only need to download the software from Google’s Play store in order to use it. Following that, you will need to enter your biodata, send in all of the pertinent information, and then apply for your loan.

2. Fairmoney Loan

You can get instant loans in just a few minutes with the FairMoney loan app, as well as settle your bills and buy airtime all from the same centralized location. Additionally, it is well known that this app provides customers with cheap interest rates. Simply downloading the program and creating an account on it is the first step.

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3. P2Vest

P2Vest is yet another well-liked loan app in Nigeria that gives Nigerians access to loans with cheap rates of interest. This lending platform basically acts as a matchmaker, putting borrowers in touch with legitimate lenders who are looking for returns on their investments. In addition to that, the P2VFB loan platform can be accessed through this program.

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The P2VFB platform makes it possible for businesses to handle their lending activities and carry out their lending operations. P2Vest is available for installation on your mobile device through either the Play Store or the App Store. This online lending service provides loans with terms of one year and amounts varying from 5,000 to 2,000,000 Nigerian naira.

4. Aella Payment

Aella Credit is yet another reputable mobile lending application that can provide loans quickly. A credit of up to one million dollars can be obtained through this platform, and the interest rate ranges from 6% to 20%.

Additionally, they offer loans with terms ranging from one to three months and do not charge any costs for late payments or rollovers. The application can be obtained from either the Playstore for Android-based smartphones or the App Store for iPhones and iPads. All that is required of you is to download it.

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5. Branch Loan App

Branch is yet another excellent mobile lending application available in Nigeria. This platform, in its most basic version, makes available loan amounts ranging from one thousand to two hundred thousand yen.

The interest rate on loans obtained through this online financing platform ranges from 3% to 21% per month, and it ranges from 15% to 34% per year. There are no fees charged for late payments or rollovers.

6. Specta Loan Program

Specta is an internet lending platform that, based on an individual’s creditworthiness, can provide loans of up to 5 million naira to qualified borrowers. The risk assessment determines the range of the interest rate, which can be anywhere from 25.5% to 28.5%.

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You can apply for personal loans, wedding financing, medical financing, holiday financing, project financing, and education financing all through the Specta Loan app.

7. Zedvance Loan Program

MoneyPal is the name of the program that is utilized by Zedvance. Individuals can quickly and easily register for loans on their mobile devices through the MoneyPal Loan App, and if approved, they could receive a loan of up to 5 million naira in as little as 5 minutes.

The application procedure for the MoneyPal app, which presently has a rating of 3.7 on the Google Play store, is very simple and does not require any stress on the user’s part. There is no requirement for collateral or any kind of documentation, and accepted loans can be disbursed within minutes of receiving approval. The interest rate offered by Zedvance is extremely low at 3.5% per month, but there is an upfront fee for administration of the loan.

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8. KiaKia Lending App

Through the use of online psychological intelligence, Mr. KiaKia determines whether or not you are creditworthy. KiaKia is currently doing business in a number of African nations, including Nigeria and Ghana. It provides extremely fast lending services that don’t require collateral.

After it has been approved, the funds will be added to your account in a matter of minutes. At the present, there is no borrower’s App available through the KiaKia platform. The use of mobile and desktop web applications is required for any and all borrowing services. To register, please visit the KiaKia website here. The annual percentage rate of interest is as low as 6.9% in some cases.

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9. Lcredit Loan App

Lcredit gives out loans to individuals through the use of their lending application. They also offer very reasonable interest rates in comparison to the market average. Their annual percentage rates of interest range from 36.5 percent all the way up to 300 percent, but it all depends on the customer’s financial history.

The L-Credit Application Process Is Broken Down Into Six Easy Stages

Download App in an Android device.
Install the LCredit Loan Program by going to the Google Play store.
Complete the required fields on the internet registration form.
Please submit your BVN information; we do not require any additional documentation.
First, get approval, and then submit.
Your money will be deposited directly into the bank account you provide within a few minutes.

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10. GroFin Loans

After completing out the application form, GroFin grants small and medium-sized business loans to applicants, thereby assisting business owners in overcoming obstacles to the expansion of their companies. The greatest amount of time a borrower has to make payments on a GroFin loan is two years.

The application process for a GroFin loan in Nigeria and South Africa consists of six steps.

Please check out their website. Complete the evaluation form found online. Please take note that the document you are using to evaluate me is not an application form. If you are eligible, a representative from GroFin will get in touch with you. The completion of the online assessment questionnaire will serve the purpose of determining whether or not you are eligible.
You will be given permission to complete out the application form as soon as you are contacted about it.
Following the submitting of your application, GroFin will conduct a document review.
After verification of the documents, the loan will be approved and then disbursed into the account you provide.


About Samuel 637 Articles
Samuel is an SEO technician and Content developer with over 5 years of work experience. He is known for his love and passion for helping others achieve their financial goals and dreams. This lead to the birth of Finwealthonline. His love for many has to lead him to help thousands of students seeking financial loan advices, app reviews with the right information. Samuel being the CEO and founder of Finwealthonline will continue his good work on helping people with the right information that will lead to achieving their financial dreams and goals.

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