Top 15 Loan Organizations In Nigeria (Guaranteed!)

Top 15 Loan Organizations In Nigeria to Borrow Money

Are you in need of a loan in minutes, from loan organizations in Nigeria, delivered instantly into your bank account? We’ve got you covered.

Taking cognizant of the times we are in and how much the Covid-19 pandemic has caused, the Federal Government had to come up with policies that have affected the economy of Nigeria.

With the fluctuations in the prices of oil, you can now agree with me that these low-interest loan organizations have actually come in handy.

What is more thrilling about loan organizations in Nigeria is that they don’t take more than 24rs or even minutes to issue out these loans as soon as you finish filling the online form.

We’ve recently published an article about all the USSD code to borrow money in Nigeria. You should check that out.

So if you have been faced with the challenge as to where to get a loan within 24hrs or less, this article presents you with 15 loan companies in Nigeria to get a loan from.

Top 15 Loan Organizations In Nigeria Urgent Loans

If you need urgent loans online in Nigeria delivered right into your bank account, these loan companies are your go-to platforms.

Loan OrganizationsInterest Rates
Carbon LoansBetween 5 to 15%
Fair Money LoansBetween 10 to 30%
Branch InternationalBetween 15 to 34%
Migo LoansBetween 5 to 25%
Palm Credit.Between 4 to 24%

1. Carbon

Formerly (and popularly) known as PayLater, Carbon Loan is an instant online loan app that allows you to access a loan in Nigeria in minutes.

Loan organizations to borrow money in Nigeria

The 3-year-old loan app prides itself on its “simple digital finance management platform” that provides instant online loans to meet urgent and unexpected cash needs.

Cabon accesses your bank verification number (BVN) to determine your credit value. The loan amount is up to N 20 million, while the interest rates vary.

Carbon is available on the internet and in mobile apps (Android and iOS). It is considered as one of the best loan apps in Nigeria.

Their interest rates are between 5 and 15%. It depends on the term of the loan repayment and the amount of money you want to borrow.

In addition to being one of the top lending companies in Nigeria, Carbon provides a platform for its customers to top up airtime, transfer money, and pay bills.

To apply for cabon loan,

  • You need to download and use the Carbon app.
  • You must have your Bank Verification Number (BVN)
  • You must provide your basic details such as name, phone numbers, and more.
  • A photo of you which you may have to snap real-time with your phone through the app.
  • Account details.

Get Carbon is no doubt one of the best loan organizations in Nigeria.

2. FairMoney

FairMoney is a licensed loan app that offers quick loans to meet requirements such as bill payments.

You will need your bank verification number and debit card to get a loan (from 2,500 to 150,000.).

The loan interest for FairMoney starts at 10% and can be up to 30% depending on your profile. It is next onthe list of loan organizations in Nigeria.

It also has a duration of 4 to 26 weeks. If you repay your loan with FairMoney before the due date, you will be paying back at a reduced interest rate.

To sign up to FairMoney, you need the following;

  • Android phone.
  • Download the FairMoney app
  • Sign up with the phone number linked to your BVN
  • Fill in the online form to confirm your identity to receive a loan offer. If you accept it, you will receive an instant loanin your preferred bank account!

3. Branch

Here is another loan organization that provides fast online loans in Nigeria. You can get access to loans of N1,000 to N200,000 within 24 hours, with a repayment period of 4 to 40 weeks.

It is arguably considered to be one of the most reliable platforms that you can get an online loan because of the way it works.

The interest rate is between 15% and 34%. As a borrower, you don’t need income-generating assets or collateral to get a loan.

The interest rates are determined by several factors including the lender’s repayment history and the cost of lending to the branch.

The branch has made it easy for Nigerians to access loans from anywhere in the country with no physical obligations or collateral.

It is very easy to apply for a loan branch, simply follow the steps below;

  • Download the Branch app. Use your Android phone to download Branch from the Google Play store.
  • Create your account. Fill out a simple form in under 30 seconds and submit for a quick review.
  • Apply for the amount you need.
  • Receive the loan into your account.

No doubt, Branch International is one of the best loan companies in Nigeria and Africa.

Related: Top 10 Best mobile banking apps in Nigeria

4. Migo

Migo is an online automated moneylender that provides individual, installment, and salary loans to borrowers.

The borrowed amount will then be debited from your account. It has an interest rate of 5-50%.

For new users, the maximum amount to be loaned out Is N50,000 while the minimum amount is N10, 000.

The loan decisions in Migo are made available within 15 seconds and if it is approved, the applicant will receive the loan amount either in F minutes time, 24 hours or 7 days a week.

Such loans are usually given through Android mobile app with lending decisions make nearly instantly.

To be eligible to borrow money from Migo, you must have the following;

  • Android Phone
  • Valid bank details
  • Complete application
  • Payment card details

5. Palm Credit Loan

Palm credit is designed to allow Nigerians to obtain a loan easily, without the need for any heavy paperwork or collateral.

The services of Palm credit is efficient and easy for users to navigate and obtain loans. It is one of the leading loan organizations in Nigeria.

Palm Credit is a  platform for fast online loans in Nigeria.

Either you’re a business owner, self employed, employee, or student, you can access more funds between N1,500 and N100,000.

The interest rate is between 4% and 24%. As with other platforms, the bank verification number is one of their requirements.

To be able to apply for a loan through Palm credit, one needs to download the app, that is the only avenue for applying for Palm credit.

There are six steps in applying for a loan:

First and most important, download the app and provide the following information:

  • You bank verification number(BVN)
  • Your personal details
  • Phone number
  • Valid bank account details.
  • Your occupation information.
  • Then you get loan in minutes.

More Organizations For Bank Loan Without Collateral In Nigeria

Loan PlatformsInterest Rates
RenMoney2.8*% per month
Lydia3.5% per month
KiaKia3.5% per month
Social Lender
Quick CheckBetween 2to 30%

6. Renmoney

Renmoney is one of the best loan organizations in Nigeria providing micro business loans up to N6 million.

To get a Renmoney SME loan, you must have a good income statement in your business and have regular monthly earnings for repayments.

The minimum loan amount is N100,000 while the interest rate is 2.8% per month.

Renmoney is a microfinance bank that prides itself on being Nigeria’s most convenient lending company with innovations that deliver great service experiences.

Requirements for RenMoney Loans

  • You must have an existing and active bank account with a commercial bank in Nigeria.
  • Employee and business owner must verify their monthly income and must have a clean credit bureau.
  • You must fall within ages 22-59 years.
  • Your statement of account for up to six months is required, and there must be no issues of a returned cheque.
  • Have a recent passport photo and an identity card to prove that you’re a staff of your organization.
  • Your earning must be high as an employee or own a thriving business

7. Lidya

Lidya is one of the leading credit companies in Nigeria. It was launched in November 2016 with the aim of filling the credit gap in both Nigeria and emerging markets.

Companies looking for a loan with Lidya can do so online or on their mobile phone and make a decision within a few hours until all requirements are met.

The loan amount at Lidya is between N 150,000 and more at an interest rate of 3.5% per month


To be apply to apply for a loan on Lydia, you must:

  1. You must upload your six months bank statement
  2. You must have an active account with Bank Verification Number (BVN)

N/B: if you are applying for a company or business loan, you must show proof of ownership of the business which you must have been running for at least 6 months.

Also, Lydia only provides loans for already established businesses, not start-ups. The good news is that Lydia’s loan does not require collateral to give out the loan.

How to apply;

  • First, sign up for Lydia via the website
  • Select the type of loan you wish to apply
  • Get your loan deposited into your Lydia account

8. KiaKia Loan

KiaKia Loan is a platform where you can get a loan in Nigeria as an individual or as a company.

The lending platform, supported by Sterling Bank Plc, also enables savers to borrow money on negotiated interests through intuitive conversations.

The minimum loan amount starts at N50,000 with an interest rate of 3.5% per month

How to apply;

  • Visit the website and create an account with your accurate details.
  • Start an application chat on the site.
  • Upload a valid means of identification.
  • Enter your desired loan amount.
  • Choose the loan duration.
  • Upload a screenshot of your last 3 salary or business income alerts.

9. Social Lender

Social lender is a loan organization which was founded in 2014. It is based on a person’s reputation on social media, online and mobile platforms.

It makes it easy for people who are in need of immediate funds but have limited access to formal credit.

Social lender scores each user according to their social reputation, with its own proprietary algorithm to carry out social inspection or scrutiny of the user on social media and online platforms.

To apply for loan through social lender follow the steps below;

  • First download the social lender app.
  • Click on launch it after downloading the app then sign up
  • As soon as you have signed up, the apply for loan
  • Wait for loan decision
  • Receive loan

It is stress-free.

10. QuickCheck

QuickCheck offers up to NGN 500,000 instant loans online in Nigeria in minutes. For first-time users, however, you can only access up to 10,000 N for one month.

The repayment terms for quick check state that early repayment of loans guarantees lower interest rates and higher amounts.

In addition, loan interest is only paid for the number of days that you use the loan. As with other credit platforms, QuickCheck needs your BVN for security and verification purposes.

And bank account number for the payment of your approved loan.

More Organizations For 24hrs Loan In Nigeria

11. Fint Loan

Fint loan is a lending platform that connects lenders to borrowers. Here, investors register as lenders on the loan website and in turn connects lenders to borrowers who are in need of loans.

These loans come with a pre-agreed interest rate depending on the strain of the loan. If you are an investor or individual that wants to increase your income through lending, fint loan is the right platform for you.

Individuals can borrow as low as N 20,000 with a maximum of N 1 million, while companies can borrow up to N 20 million. It is one of the leading loan organizations in Nigeria.

You can access a loan by getting your company to sign up for a payday loan or you can go through the companies in partnership with Fint Loans.

Some of these companies in partnership with Fint loan are, Thrive Agric, First Registrars, Farm Forte, Vetiva, Paystack, Old Mutual.

One good thing about fint loan is that it has a calculator that can help you calculate your loan the repayment plan. To do this, Select the sector that applies to you, the amount of loan you are taking out and the duration. Then it will calculate how much you can repay each month.

Fint loan, though has its requirements which are listed below;

  1. You must have a valid Nigerian bank account
  2. You must have your BVN (bank verification number)
  3. You must be 21 years and above
  4. You have a statement of account
  5. A photocopy of your valid Nigerian ID card must be presented

12. C24 Loan

Are you in eligible for bank loans because of your thin credit files and you are looking for where to get loan other than the bank?

C24 is the right source as it is best for students, those in need of unsecured personal consumer loan. C24 gives retail loans for consumers looking for immediate financial solutions.

C24 loan has a minimum loan amount of N40, 000, while the highest limit for fresh customer is N750,000. For old or existing customers the limit is N1,000,000 depending on the borrower’s ability to pay back based on verifiable level of income as well as other selection criteria. These loans are usually designed to be short term bridge you over to the next pay.

The interest rate usually ranges from 12%-60% and the repayment structure is flexible, so you wouldn’t have to go bankrupt to pay back.

13. Jumia Loan

Created by Jumia, Jumia loan organization is a quick cash lending platform that gives users instant loans within 24 hours or few minutes after filling the form.

It is very easy to apply as it doesn’t require filling of long forms, it has a low interest rates and it takes few minutes to get the loan as soon as the application for loan is approved.

It doesn’t require any collateral. Not this loan is only available on the Jumia app.

To be able to apply for loan on the Jumia Platform, there are steps to follow;

  • First, you have to visit the JumiaPay Android app
  • Secondly, click on ‘loans’ on the ‘financial Services’ section.
  • Fill in the necessary details required of you.
  • Wait for approval, approval takes a few minutes after which you will receive an email requesting for your detail for disbursement.
  • As soon as you provide your details, instantly, the loan is paid into your account.

14. Okash Loan

Okash loan organization which is owned by Opera, one of the tech giants, is a lending platform in Nigeria.

This loan organization have proving to be one of the most reputable organizations that give out loans in Nigeria, all you need to do to get a quick loan from the organization is;

  • Download the Okash mobile app
  • Create an account with them.
  • Fill in your details where appropriate.
  • Wait for approval, within 24hrs you will get your loan.

Related: Top 10 Richest men in Uganda

15. Specta Loan

Specta Loans is a lending platform owned by Sterling Bank, which provides users with emergency loan in Nigeria.

The company offers 3 different loan products, including Specta4Business – for access to business loans, MySpecta – for quick loans of up to 5 million NGN in 5 minutes, and finally SpectaScore – for checking your creditworthiness and forecasting your network and finally.

It doesn’t require any collateral or paper work.

Summary Notes on Loan Organizations In Nigeria

As the current pandemic has put many in a financial fix, many have decided to apply for instant loans to meet their needs, if you are one of them, this article has been able to bring to you.

Still, it goes without saying that you need to check the terms, conditions, and interest rates of these 15 loan organizations in Nigeria.

Did you find this to be helpful? Let’s have your comments.

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