Companies Granting Instant Online Loan in Nigeria 2023
There are companies granting instant online loans in Nigeria. If you need money urgently and you are out of cash, do not panic. We have made a list of online loan apps in Nigeria to choose from depending on your preference.
An online loan is a personal loan that is applied for and granted online. Everything is done seamlessly online in the comfort of your home with just your computer, smartphone, or tablet.
Companies Granting Instant Online Loan in Nigeria 2023
In no particular order, we will look out for some of these companies leading out loans. We have, however, given the list below based on acceptability by the public.
1. Branch
This is one of the top loan apps in Nigeria. They have up to 10 million downloads so far and still counting. Their loan repayment plan spans between 61-180 days.
The loan amount ranges from 2,000 to ₦500,000. This loan app requires no documentation.
2. FairMoney
This is one of the most downloaded loan apps in Nigeria, with over 10 million downloads. Their loan comes in as fast as 5 minutes.
All you need to access the loan is a smartphone, credit history, and data. Their loans span up to 1 million naira and SME loans up to 5 million naira.
3. Kuda
KUDA is popularly known as the Bank of the Free. It offers free short-term loans in the form of overdrafts to regular customers.
This overdraft requires no paperwork, and it comes with an interest rate of 0.3%. The overdrafts last for 90 days while repayments begin 30 days after you get the loan.
4. Quick Check
These QuickCheck loans are granted based on your credit score, data, and smartphone. They disburse urgent cash to customers to help them solve daily issues and they get to pay back this loan on the next payday.
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5. Carbon
Carbon makes installment payments easy for customers, as they have the liberty to pay an amount they are comfortable with each month.
The payment period is between 3-6 months, but when purchasing a product, 25% of the product price must be paid before it goes through.
This loan is best suitable during these ember months so you can get all you need and pay back conveniently within 3-6 months.
6. Aella
With 1 million+ downloads, they have experienced steady growth. They give out digital loans up to 1 million naira for 1-3 months with a competitive interest rate.
7. Palm Credit
Palm credit offers collateral-free loans at ₦100,000 with interest rates that range from 14% to 24%. The repayment plan is between 14 days to 180 days after the loan disbursal.
8. RenMoney
This is a widely known loan financing app in Nigeria. They offer up to 6 million naira in loans that span up to 730 days. They require a government ID, a utility bill, and a bank statement.
CSN Team.
