Top Loan Apps That Can Lend You Millions Without Collateral

As a business person or an individual, there will be times that things might get a little bit hard and there will be a need to look for an emergency fund. It could be money to meet personal needs or business needs. In the past, it was almost impossible to access an emergency loan in Nigeria. But these days, there are many loan apps in Nigeria that you can get a quick loan from without collateral.

All you need is download and install their app on your phone. And you can get a loan. Most ften without any paperwork.

How does loan apps work?
Loan apps works in this way: You download the app from your app store. Install it on your phone. open the app, register with you correct details and any document needed. Your credit score will be calculate and you get a loan offer. Once you accept loan, it will be credited into your account. You will have to pay back your loan before or by due date.

Majority of the loan apps in Nigeria do not require collateral or guarantors. So you do not need to worry about that.

Loan apps are very useful for emergency. When you need emergency loan, all you need is open the loan app and apply for a loan. Most loan apps work 24/7.

You may need money for house rents, school feels, for travel or business. Loan apps will always be resourceful in times like that. It is very advisable to have one or two installed on your phone. Because you never know when you may need it. There are loan apps available for Android, iOS, Blackbery and Windows phone.

Advantages of using loan apps
There are many advantages while you should use loan apps instead of regular money lenders.

1. Carbon (Paylater)
Carbon formerly known as Paylater is one of the top mobile phone loan apps available in Nigeria. It is easy to use and you can get a loan quickly without much delay. You can get loan up to ₦1 million from this app

It does not require a collateral or guarantor to get a loan from Carbon. All you have to do is download the app into your phone. Register with your accurate details and then apply for loan. The app is fast, you may get a loan offer in few minutes.

They charge a flexible interest rate from 5% to 15% depending on the amount and repayment period.

You can pay back your loan easily from the app using your ATM.

For android and iOS users, you can download the carbon app from Google play store or the app store.

2. FairMoney
With the FairMoney app, you can get a loan up to ₦150, 000 with just a few clicks. It is fast, easy and secure. This app is one of the most downloaded loans app in Google Playstore.

All you have to do is download the app, install it on your phone. Then you can proceed to sign up with your Facebook account or with your phone number. Then you answer a couple of questions. After that you will be sure to get a loan offer.

Once you get an offer, accept it and the money will be credited into your bank account. It is that easy.

They have a flexible interest rate. You can pay back your loan installmentally for up to 3 months.

You can download the FairMoney app from the Google play store to access their service. This app is not available for iOS, Windows and Blackberry.

3. Palmcredit
You can get an instant loan of up to ₦100, 000 from the Plamcredit app. This app is very popular among Nigerians. It is easy to operate and use. Typically, loan application are approved in about 5 minutes.

All you have to do is download the app and install on your phone. Open the app, register and apply for loan, get approval and receive the money.

The interest rate is from 14% to 24% depending on tenor and amount. You can loan for duration ranging from 91 days to 180 days. You do not need a collateral or guarantor.

To access loan, you can download the Palmcredit app from Google playstore.

4. Branch
Branch is one the the top loan apps in Nigeria. With branch, you can get up to ₦200, 000 loan from your phone without paper work or collateral.

All you have to do is download the app, create an account. Then apply for loan and you get your loan. It is that easy.

The loan term is from  4 to 64 weeks. And the interest rate ranges from 14% – 28%.

These app has been featured in Forbes, Bloomberg and more.

You can download the Branch app from Google Play Store

5. Aella credit
Aella credit is a mobile loan app that gives loan up to ₦100, 000 without collateral and paperwork. It is highly secured and quite popular.

To get a loan, simply download and install the app. Then you register. Fill the application form. And you can receive a loan without much delay.

The loan tenor is 30 to 60 days. And the interest rate varies from 4% – 29%.

You can download the Aella credit mobile app from the Google playstore.

6. QuickCheck
QuickCheck is a very popular mobile loan app in Nigeria that gives up to ₦200, 000 instant loan without any hidden charges.

To access loan you need to download and install the app. Give it permission to access your phone data in order to make you an offer. Apply for loan and once approved, you get the money in your bank account.

If you forget passwords too easily, with QuickCheck, you can login with your Facebook account.

7. Sokoloan
Sokoloan is one of the new and fast rising mobile loan apps in Nigeria. With this app you can apply for loan 24/7.

All you need is to download and install the app. Accept conditions. Sign up. Provide all needed information. Then apply for loan. If approved, you get your loan.

The loan tenor is from 91 days to 180 days. They run a 0.35% of daily interest.

You can download the Sokoloan app from the Google play store.

8. Kiakia
Kiakia is a web app that gives online loan to Nigerians. You can get loans instantly by just answering few questions.

Kiakia uses a different method to give its loan. You will need to access the web app and chat with Mr.Kiaia, a chat bot. Then you get your loan!

To get a loan, you can use your Android phone, iOS, Windows and Blackberry to access the Kiakia Web app and chat with Mr. Kiakia.


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