Best Loan App In Nigeria

Recently, a friend of mine who happens to be a pharmacist opens a modern bakery, few months after his house warming. So, I got engaged with him on how that was possible, and he told me he took a loan. A what? Loan!!!? Yes! But why, I asked? He said, was shocked that I could ask such a question. In his amazement; he asked, is there any business person who doesn’t need a loan? I was quiet, because I use to think taking loan for business expansion isn’t even advisable, but I was wrong. After that incident; I decided to do some research following the information he gave me.

Today, I will be discussing with you the Best Loan App In Nigeria without collateral. It is unfortunate that some of these loan apps aren’t what they claimed. So, I advise you to take this post seriously.

Maybe, in my next post, I will be telling you about some other loan apps you should stay away from. As they will rub you of your time, effort and money – one of them is PalmCredit (story for another day).

Best Loan App In Nigeria

There are my best Nigeria loan app, based on the following factors:

  1. Time of Loan Disbursement: By this, I mean the time it took this loan app to approve your loan and send you the required fund.
  2. Customer Service: This is talking of how fast this people respond to query via emails, whatsapp and other social media.
  3. Interest Rate: This is the amount you have to pay on every approved loan.
  4. Loan Tenure: This is the time given to pay the loan.
  5. App functionality



This is by far the easy and smoothest way to take loan in Nigeria. The Branch app has a smooth registration process and gives instant loan of 10,000 for new users. Branch makes it easy for people in Nigeria to access a loan, anytime, anywhere.

Why I Love Branch loan App

  1. Excellent customer service: Branch customer service is second to none. As their entire customer channels are working and very responsive.
  2. App is user friendly: This app is very user friendly; in design and use.
  3. Easy user registration: It is easy to register on this app
  4. Active notification feature: You will get real time notifications on your phone from Branch App; so, you don’t miss any important information.
  5. Quick loan disbursement: Branch disburses within an hour or less in most cases.
  6. Loan Tenure: With Branch you have flexibilities on your loan tenure; as you can chose your loan payment period. Usually, you can choose with 4 Weeks – 15 Months.

What I Don’t Like About Branch Loan app

  1. I think Branch has high interest rate of 20%. Although, this is still better when compared to some other loan apps. However, it is important you know that for every 5,000 from Branch; you pay 1,000 as interest within 30 days.
  2. Unfortunately, Branch cannot alter your repayment schedule after you’ve received a loan.


This another top loan apps in Nigeria; kwikmoney is a product offered by Mines, a global technology company that has developed a digital platform that enables institutions in emerging markets to offer credit products to their customers with ease and minimal risk. Fortunately, I got to know about them via my First Bank App.

Why I Like Kwikmoney

  1. Lots of channels to access the loan e.g ussd, bank app e.t.c
  2. Quick loan disbursement: Kwikmoney disburses within 5minutes or less in most cases.
  3. Good customer service: Kwikmoney customer service is not bad, but it is definitely not the best; as there are lots of rooms for improvement.

Why I Don’t Like Kwikmoney

  1. High interest rate
  2. Short loan payment tenure – 15 days
  3. Loan tenure not flexible


When you read about Opay; the first thing that comes to mind is Oride; which is just the bike rider business section of the company.

OPay is a mobile app that allows you to do lots of things; from buying recharge cards to buying data, foods, cloths; pay for hotels and Tv subscription. In addition to all that; Opay also give loan without collateral.

OPay is a one-stop mobile-based platform for payment, transportation, food & grocery delivery, and other important services in your everyday life. Millions of users rely on OPay everyday to send and receive money, pay bills, and order food and groceries.

Why I Love Opay Loan App

  1. It’s a complete mobile business app
  2. Good interest rate: I thing Opay has the best interest rate; considering the loan payment tenure.
  3. Long loan tenure: 15 days – 90 days
  4. New user can get 30,000
  5. Quick loan disbursement; usually within 30 minutes

Why I don’t like Opay Loan App

  1. Registration is complex
  2. Lots of processes to get loan

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