Are you looking for Best loan service to invest on your business or to pay your Bill, School Fees, House Rent, Etc, if your answer is yes then you are at the right place.
Since 2015, Nigerians has suffer alot in hand of government due to Corruption, Low Electrical Power Supply, Bad Roads, Insecurity, Lack Of Employment… Etc, there are many Nigerian graduates who are not able to get a job and lack of funds to establishe their personal business.
With this list of Best Load App, you can pick on and requst a load for your business or other things, some loan services has high rated interest with some have low interest
Top 5 Best Loan Apps In Nigeria 2021
- Below are the list of 5 trusted loan app we have in Nigeria
1. FairMoney Loan
With FairMoney Loan, you can enjoy up to 12 months instalment repayment on FairMoney. This is dependent on your credit score and history, their Interest is not fixed.
You can pay the lowest interest in the country with early and on-time repayment.
FairMoney Loan amounts range between ₦1,500 to ₦500,000 with repayment periods from 61 days to 1 year at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 360%)
AN EXAMPLE OF A FAIRMONEY LOAN:
Borrow NGN100,000 over 3 months
Interest (total cost of the loan): NGN30,000 (30% rate)
Three monthly repayments: NGN 43,333
Total amount payable: NGN130,000
Representative: 120% APR
Their monthly interest rates range from 2.5% to 30% (APRs from 30% to 360%).
How To Get Loan On Fair Money & Eligibility
You need an Android phone to download the FairMoney app and Sign up with the phone number linked to your BVN, answer a few questions and confirm your identity to receive a loan offer.
Avoid typing false information or else your loan Application will ne decline, if you use your real information, you will receive your loan instantly in your preferred bank account!
2. PalmCredit Loan
Palmcredit is another best loan app that provides loan to users of the app. One distinctiveness of the app to other loan apps is that all processes are performed with the app, rather than redirecting to affiliate websites.
PalmCredit frame and loan duration take 91 days to 180 days.
Loan interest is between 14% to 24% while the annual loan interest is between 48% to 56%
How To Get Loan On Palm Credit & Eligibility
People above 18 are eligible to use this service and the loan amount start from N2,000 to as high as N100,000.
To get your interest loan on PalmCredit, you need to download their app and sign up then fill all the fiel correctly.
3. KwikMoney Loan / Migo
Kwikmoney or Migo as is another best quick loan app in Nigeria, this loan app platform is very flexible to us as it enable users to apply for loan through their website.
With KwikMoney Loan App, you don’t need to download any App, all processes are done on their website, their service is very simple as they offer a more straight way to get a loan; as easy as just dialing a code the same way you borrow credit through your sim, with Kwikmoney loan app, you don’t need to spend more for time filling loan form.
The interest rate of KwikMoney started from 5% to 25% on the loans requested.
How To Get Loan On KwikMoney & Eligibility
KwikMoney offers loans starting from N500 up to N500,000 (the maximum limit increase as you continue lending and repaying your loans)
4. Okash Loan
OKash app is one of the best loan app in Nigeria also highly rated for best apps for quick loans, okash app was featured in Opay app before but it has now been moved to become an independent app on its own for convenience.
Okash loan system gives up to N500,000 maximum loan.
Okash Loan Interest
This loan app offers an annual interest rate of 36.5% to 360%
How To Get Loan On O kash
all you need to do is to download the app from GooglePlay and apply for a loan with your Okash app. After downloas, open the app and sign up with your phone number, fill in your personal information, and complete the registration. Just log in, apply for the loan and see how simple it is using Okash mobile app loan.
5. MoneyPal Loan
MoneyPal is another top rated loan app for requesting your medium loans In just a few click, you can control your finances with a few clicks by providing loans for entrepreneur business and enterprise business owners.
MoneyPal Loan Interest
Monthly Interest Rate: 3.5%. Management fees (charged upfront): N9,500. Total amount payable: N734,000. Fees are subject to change and will be affected by customer risk.
How To Get Loan On Money Pal & Eligibility
Representative example: Loan amount of N500,000 borrowed for 12 months. You can download the MoneyPal mobile apl and request your loan. Make your fill your form with valid information in order to avoid decline.
The list of 5 best loan services we mentioned above are the best loan app currently, it’s left for you to decid the best for your self.