Top Loan Websites In Nigeria

Which are the top 10 online loan websites in Nigeria?

Once in a while, we need some additional cash, maybe for emergency reasons, where do you turn when you are in a situation where you need a loan urgently in Nigeria?

A few people use credit cards with high-interest rates and a compulsion to spend more. Credit cards may not be the best choice.

In the event that this circumstance sounds familiar, you might need to think about a personal loan. You should check out our latest list of best loan apps in Nigeria.

Various kinds of lenders offer quick loans, including conventional physical banks and online lenders.

They serve borrowers with changing credit scores, income, and other qualifying requirements.

This guide clarifies websites to get online loans in Nigeria. Picking the correct lender and terms can spare you a lot of Naira.

Top 10 Online Loan Websites In Nigeria

Though the final choice of loan platform to choose will be up to you, we have given a review of the top 10 loan websites in Nigeria.

The loan platforms and their presence on this list have been well scrutinized for the features and products they offer to their users.

1. Carbon Loan App

Online loan websites - Carbon Paylater

Carbon, formerly known as Paylater takes the lead on the list of top online loan websites in Nigeria. It is one of Nigeria’s leading digital financial platform that gives quick loans to its users.

They issue loans through their fast loan app in Nigeria. It is called the Carbon loan app.

With over 40 employees, they have a presence in Nigeria, South Africa, United Kingdom, Ghana, and Portugal.

Loans from Carbon do not require collateral or guarantors. At your first try, you may not be able to access big funds, you start by borrowing small, paying back, then you can have access to bigger funds.

They empower individuals with access to credit, simple payment solutions, high-yield investment opportunities and easy-to-use tools for personal financial management.

The leadership of the organization centers around Chijioke Dozie who is the founder and CEO of the company, Ngozi Dozie and Emeka Mordi who is the COO of the Carbon loan app.

Before you can access loans from Carbon however, you have to be able to meet all of their requirements which includes:

  • Downloading the carbon Paylater app on Google play store for Android users or on Apple’s app world for iPhone users
  • Personal information about yourself such as name, address, phone numbers and more
  • A photo of you taken real-time with your phone via the app
  • Bank Verification Number (BVN)
  • Bank account details
  • Payment of an initial N50 or N100 to Authenticate the atm card to be used for your loan repayment.
  •  A government-issued ID (which is in rare cases).

One of the best features of the Carbon loan app is the fact that you can obtain your loans within 5 minutes of application, which can also be completed in no time.

Carbon is no doubt one of the top 10 fintech companies in the country.

They give loans at an interest rate between 5-15% depending on the loan amount, loan tenor and credit history.

For any further information, you can visit their website at www.getcarbon.co and you can also contact their customer care service at 01-460 9945 or 01-631 1215 or better still through their mail at customer@carbon.ng.

2. Branch Loan International

Online loan websites - Branch International

Second, on my list of online loan websites in Nigeria is The branch International.

It is an online moneylender platform whose mission is to deliver world-class financial services to the mobile generation.

Applying machine learning, Branch has created an algorithmic approach to determine credit worthiness via customers’ smartphones.

While this tech-forward approach requires transparency and trust, it also enables a fair, secure and convenient path for customers to build capital and save for the future.

The easy loan can be obtained through the app that is easy to download by everyone as long as you have a smartphone and internet service.

The rest is just as easy as ABC. The platform is built on transparency and trust evident through the ownership of the loan app which includes Matt Flannery and Daniel Jung who are co-founders of the Branch loan app.

Obtaining loans in Nigeria through the branch website is easier than ever before as long as their requirements are met.

The good thing is, it’s not that much. All you need is to have a smartphone to download the Branch app through the Google play store or Apple’s app world for Android and iPhone users respectively.

You also need your Bank verification number, personal details and a simple photo of you. And less we forget, you can’t be underaged and by that we mean not less than 21 years old.

If you meet all these requirements, you are free to proceed to download the Branch loan app and apply for a loan.

Within 24 hours of a loan application, we bet you will be smiling to the bank. Yes, that’s Branch International for you.

Branch loans are given at varying interest rates which is between 1-21% depending on your credit score, loan amount and tenor.

Through the loan app, you can obtain loans between N1, 500 – N150, 000. There is also an easy way for loan repayment through the loan app, everything is just made easy for you.

3. Palmcredit Loan

Online loan websites - Palm Credit

Palmcredit loan is also one of the most popular loan websites in Nigeria, and for years now, the company have been consistently operating to standard.

They offer two categories of loans to their users namely Palmcredit Airtime Loan which you can borrow up to N10, 000 airtime to repay within 2 weeks and Palmcredit Installment Loan, which you can borrow from N2000 to N100, 000 loans.

Before you are qualified to be eligible for the Palmcredit loan, you have to be able to satisfy all their requirements which are not really different from other loan companies mentioned in this post.

All you need is a smartphone to download the app for quick loans online, on the Google play store only (not available for iPhone users).

You must be within the age range of 18-60, have a bank account with a bank verification number, a valid phone number and a means of identification.

Palmcredit loans are given out at interest rates between 14% to 24%, equivalent Monthly interest 4.6%, the Annual Percentage Rate (APR) on a Palmcredit loan is 56.78%.

Through the Palmcredit app, you can repay your loans with an atm card registered with the platform or through the account number provided.

Note that if you plan to repay your loans through their account number, you are required to notify their customer service 72 hours prior.

Their customer care service details are 017001000 or their mail at palmcredit.service.ng@transsnet.com. You will get an immediate response from them.

4. C24 Loans

C24 is also one of the best online loan websites in Nigeria that provide retail loans without collateral for consumers in need of quick credit.

Their minimum loan amount is N40,000 and the maximum loan amount for a new customer is N750,000, while for existing customers, you can get up to N2,000,000.00.

Both depend on borrower’s capacity to repay an assessed loan based on verifiable income level and credit history.

They classify their loans into business loans and personal loans.

The business loan is usually for self-employed and entrepreneurs who are looking to start up a business or expand their various businesses.

Personal loans are for individuals who have temporary financial difficulties to overcome like paying for school fees, medical fees or emergencies whatsoever, and quick cash loans.

The requirements for C24 loans include:

  • You must be employed for a minimum of 6 months.
  • Your salary should be received through a bank account.
  • You have to be at least 22 years of age.
  • A functional bank account with BVN
  • A good credit history, which means you cannot get this loan if you are a loan defaulted.

If you can satisfy these requirements, nothing can stop you from easily getting that desired loan within 5 minutes.

Now, you might be wondering about their interest rates and repayment procedures.

C24 loans charge an interest rate of 4% monthly which is quite low compared to the other loan platforms on this list.

The only other charge you pay aside this is the Management fee of 4% of the loan amount. This is a one-time payment.

Also, C24 loans can be repaid without stress. All you need to do is repay through the credit card registered with the platform.

5. FairMoney Loan

Online loan websites in Nigeria - Fint Loan

Also on the list of best loan companies in Nigeria is Fair Money.

With the FairMoney loan app, you can get instant loans up to ₦500,000 without collateral or paperwork.

They give business loans and personal loans, you just need to download the FairMoney app through the Google play store, sign up and follow a simple application process to get the instant loan online.

FairMoney app is a fast, secure, reliable and free Android mobile app, available in Nigeria.

They make getting loans and paying bills fast and easy. You can also earn bonus cash when you invite your friends.

Requirements to satisfy before obtaining loans include:

  • A smartphone.
  • Facebook account.
  • A bank account with Bank verification number. It’s that simple.

FairMoney Loans range from ₦1,500 to ₦500,000 with a loan tenor of 4 – 26 weeks. There are no additional fees or hidden costs for processing your loan.

Interest rates range from 10 to 30% depending on the amount, tenure, etc. For further inquiries about this loan, you can visit their website at www.fairmoney.ng.

More instant loan platforms are listed below:

6. RenMoney Loan

Loan websites in Nigeria - Renmoney

RenMoney MFB Limited (formerly RenCredit) is also on the list of top online loan websites in Nigeria.

The company is a consumer finance organization founded in Lagos in 2012, under a unit Microfinance Banking with expertise in the provision of credit.

In December 2013, RenCredit MFB Limited was re-branded to RenMoney MFB Limited – the name by which they are now known.

You can borrow money online in Nigeria through Renmoney, which is the first Micro Finance Bank (MFB) to launch Cloud technology with minimal fixed asset investment in Nigeria.

They have a functional platform that guarantees and ensures an efficient & scalable operational system.

There are requirements you have to follow however Before you can obtain any loans from the Renmoney platform. These include:

  • Be between ages 22 – 59 years.
  • Employed or self-employed with a steady income.
  • Have a functional bank account with a bank verification number.
  • Identification – International Passport, Driver’s License, National ID Card.
  • You must have a clean Credit Bureau Report.
  • You must not have a history of returned cheques in your account.
  • A recent passport within the last 6 months.
  • Salary bank statement for the last 6 months (must be stamped by the bank).

If you find yourself eligible through the requirements listed above, you can proceed to apply for a loan accessible only through their official website at www.renmoney.com. RenMoney has different categories of loan which are – Cash Loan, Fixed Deposits, Target Savings, Smartphone Financing, Loan@Work, School Fees Loan, and Point-of-Sale (POS) Loan. Whichever category of loan you want can easily be chosen through their website.

Through this loan platform, you can obtain quick loan on this loan website within the range of N50,000 – N2 million which can be processed and obtained within 24 hours.

However, the amount of loan you can borrow has limits dependent on your credit history, loan risk, type of loan etc.

Interest Rate: 35.76%. Total amount payable: ₦2,715,200. Maximum Annual Percentage Rate (APR): 35.76%. No other fees.

Hope you’ve found the best instant loan organizations in Nigeria from the list given so far? There’s more..

7. Fint Loans

Online loan websites - FairMoney

FINT is next on the list of top loan websites in Nigeria and is one of the.

They offer loans to users at an incredible 2% interest rate, which is one of the lowest among loan platforms in Nigeria.

The platform has a major purpose of connecting lenders in need of high returns on investment and borrowers who need attractive quick money and short-term or business loans without collateral or guarantors that can be obtained within 24 hours of application.

It has a simple and transparent system, which makes the process fast and efficient. It stands out the experience in inclusion, qualification, and service of high quality.

Through FINT loans, you can obtain a fast cash loan up to N1,000,000 as long as you are eligible, and have a clean credit history.

The only form of application for FINT loans can only be done through their website which you can visit at www.fint.ng.

FINT loan application can be completed within 5 minutes and you can get disbursed almost immediately.

However, you need to satisfy requirements to be eligible to obtain a loan from the platform which is simply being at least 21 years old and you must have a steady income source.

8. Kiakia Loan

kiakia fast loans in Nigeria
kiakia loans

The full name of this loan is the Sterling bank Kiakia loan as it is a subsidiary of the Sterling bank Group, one of the oldest banks in Nigeria.

KiaKia is an online moneylender that provides direct personal loans at flexible rates, and also match borrowers with individual or corporate lenders at mutually-agreed rates.

They offer loans from N10,000 and N200,000 for a minimum duration of 7 days and a maximum of 30 days.

Responsible borrowers who earn financial responsibility trust points over a period of time will be able to access much bigger amounts at longer tenure and more flexible interest rates.

Kiakia’s services are best for individuals ineligible for the typical bank or credit union loans, and those facing financial hardship.

This loan is however available only through their official website at www.kiakia.co with requirements such as A valid ID card, An email address, A bank account (Preferably a sterling bank account).

Their interest rates are also okay ranging from 5.6% – 24% depending on loan risk and credit history.

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9. CreditVille Loans

Creditville loan site
Creditville loan site

Creditville is another online moneylender that provides Payroll based consumer loans to eligible individuals through their employer.

The amount borrowed is then deducted from your monthly salary.

CreditVille can provide an urgent or emergency online loan in Nigeria quickly in your account within 6 hours after meeting the necessary conditions and documentation.

It is best for anyone looking for an unsecured personal consumer loan, students and individuals ineligible for typical bank loans due to thin credit files.

They also have products such as salary advance, business loans, and cab lease/hire purchase to cater to the pressing needs of their users.

To apply for Creditville loans, you are required to visit their online portal at www.Creditville.ng.

Through Creditville, you can obtain quick loans ranging from N200,000 – N2,000, 000 with interest rate of 6-31% though you have requirements to satisfy like:

  • Age between 25 and 60 years
  • You need a Guarantor for this loan I.e a staff of any commercial bank or a senior civil servant of level 14 and above.
  • A current account with a commercial bank in Nigeria
  • A verifiable monthly salary income
  • A clean credit history
  • No history of returned cheque in your account.

If you satisfy these requirements, it will definitely be an easy application process for you.

10. Okash

okash online loans in nigeria
Lookash money lender

Okash is also on the list of best loan websites in Nigeria. Opay’s automated lending service focused on increasing access to credit.

Loan decisions are provided within 15 seconds and if approved, the applicant receives fast loans online within 2 hours of application.

The loans are delivered via an Android mobile app that can be downloaded through the Google play store for Android users, with lending decisions provided almost instantly.

The usual amount for new borrowers is N10,000.

Loan products from this app include payday loans, business loans, and education loans.

Loans through this app are given at an interest rate of 23-35% per annum depending on loan risk and your credit history.

The requirements to get this  loan includes:

  • Valid bank details
  • Valid ID card
  • BVN number
  • Android Phone
  • The age range of 20-55 years old
  • Complete Okash application

Obtaining loans online in Nigeria has never been easier than it is today.

So, why don’t you grab this opportunity to take that loan and solve that emergency issue troubling you today.

Loan Websites In Nigeria (summary)

There you have the list of loan websites in Nigeria.

Most personal loan amounts vary between the platforms listed here largely due to their financial pulling power.

What usually determines you being granted a loan majority of the time depends on your need, loan risk, and creditworthiness.

As easy as it might be to obtain these loans today, it is advisable to borrow amounts you can repay as this will directly affect your general creditworthiness.

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