Compare All Loan Apps in Nigeria
Side-by-side comparison of 36 major loan apps. Find the best rates, highest amounts, and fastest approval times.
Lowest Interest
Kuda
From 0% flat
Highest Amount
Lidya
Up to ₦50.0M
Fastest Approval
Aella Credit
5 minutes
Full Comparison Matrix
| App Name | Loan Amount | Interest Rate | Tenure | Approval Time | Actions |
|---|---|---|---|---|---|
Access Bank PayDay Loan Access Bank | ₦25K - ₦10.0M | 1.5-2.5% monthly | 1-24mo | 24-48 hours | Apply Now |
Aella Aella Credit | ₦1K - ₦1.0M | 4-29% monthly | 14-365d | Instant-24 hours | Apply Now |
Aella Credit Aella Credit | ₦10K - ₦1.0M | 4-25% monthly | 1-6mo | 5 minutes Fastest | Apply Now |
ALAT Wema Bank | ₦5K - ₦2.0M | 3-5% monthly | 30-365d | 24-48 hours | Apply Now |
Branch Loan Branch | ₦1K - ₦500K | 4-21% monthly | 4-52weeks | 5-10 minutes | Apply Now |
Branch Loan Branch | ₦2K - ₦500K | 4-21% monthly | 4-48weeks | 5 minutes | Apply Now |
Carbon Carbon | ₦2K - ₦1.5M | 5-15% monthly | 7-365d | 5-24 hours | Apply Now |
Carbon Loan Carbon | ₦10K - ₦1.0M | 5-30% monthly | 2-12mo | 5 minutes | Apply Now |
Credit Direct Credit Direct Limited | ₦50K - ₦5.0M | 3-5.5% monthly | 90-540d | 24-72 hours | Apply Now |
FairMoney Loan FairMoney | ₦10K - ₦3.0M | 3-30% monthly | 2-18mo | 10 minutes | Apply Now |
FairMoney Loan FairMoney | ₦10K - ₦3.0M | 3-30% monthly | 2-18mo | 10-15 minutes | Apply Now |
First Bank First Bank of Nigeria | ₦50K - ₦10.0M | 2-4% monthly | 30-365d | 24-72 hours | Apply Now |
GTBank Guaranty Trust Bank | ₦10K - ₦5.0M | 1.75-3.5% monthly | 30-180d | Instant-24 hours | Apply Now |
GTBank Quick Credit GTBank | ₦50K - ₦5.0M | 1.33-2% monthly | 3-12mo | Same day | Apply Now |
Kuda Kuda Bank | ₦1K - ₦150K | 0% flat Lowest | 14-30d | Instant | Apply Now |
Kuda Overdraft Kuda Bank | ₦5K - ₦150K | 0-7% monthly | 1-30d | Instant | Apply Now |
Lidya Lidya | ₦150K - ₦50.0M Highest | 2.5-5% monthly | 90-365d | 24-48 hours | Apply Now |
Migo Loan Migo | ₦5K - ₦500K | 5-24% monthly | 14-60d | 2 minutes | Apply Now |
Mobile App Loan Loan Apps | ₦1K - ₦3.0M | 3-30% monthly | 7-365d | 5-15 minutes | Apply Now |
Moniepoint Moniepoint | ₦10K - ₦5.0M | 3-10% monthly | 1-12mo | 24 hours | Apply Now |
OKash OKash (Opera) | ₦3K - ₦500K | 5-29% monthly | 14-180d | 3 minutes | Apply Now |
OPay Loan OPay | ₦3K - ₦500K | 5-15% monthly | 7-30d | 2-5 minutes | Apply Now |
OPay OKash OPay | ₦5K - ₦500K | 5-15% monthly | 14-30d | 5 minutes | Apply Now |
PalmCredit PalmCredit | ₦5K - ₦500K | 7-24% monthly | 14-180d | 3 minutes | Apply Now |
PalmPay PalmPay Limited | ₦2K - ₦300K | 10-30% monthly | 7-30d | Instant | Apply Now |
PalmPay Loan PalmPay | ₦2K - ₦300K | 4-15% monthly | 14-30d | 3 minutes | Apply Now |
Paylater (Carbon) Carbon | ₦10K - ₦1.0M | 5-30% monthly | 2-12mo | 5 minutes | Apply Now |
QuickCheck QuickCheck | ₦2K - ₦500K | 5-30% monthly | 7-365d | Instant-5 minutes | Apply Now |
QuickCheck QuickCheck | ₦5K - ₦500K | 5-29% monthly | 15-90d | 5 minutes | Apply Now |
Remitly Remitly | ₦0K - ₦500K | 0-5% fee | 0-3d | Minutes to 3 days | Apply Now |
Renmoney Renmoney MFB | ₦50K - ₦6.0M | 2.5-5% monthly | 90-730d | 24-48 hours | Apply Now |
RenMoney Loan RenMoney MFB | ₦100K - ₦6.0M | 2.79-5% monthly | 3-24mo | 24 hours | Apply Now |
Traditional Bank Loan Nigerian Banks | ₦100K - ₦50.0M | 15-30% annual | 6-60mo | 1-4 weeks | Apply Now |
UBA Personal Loan UBA | ₦50K - ₦5.0M | 1.33-2.25% monthly | 3-18mo | 24-72 hours | Apply Now |
Wise (TransferWise) Wise | ₦0K - ₦1.0M | 0-2% fee | 1-3d | 1-3 business days | Apply Now |
Zenith Bank Personal Loan Zenith Bank | ₦100K - ₦5.0M | 1.5-2.5% monthly | 3-12mo | 24-48 hours | Apply Now |
Features at a Glance
Access Bank PayDay Loan
Access Bank
Key Features
- ✓Highest bank loan limit
- ✓Up to 24 months
- ✓Asset financing
- ✓Collateral options
Highest loan amount (₦10M)
Aella
Aella Credit
Key Features
- ✓Employer partnerships
- ✓AI scoring
- ✓Savings feature
- ✓Investment options
Higher limits
Aella Credit
Aella Credit
Key Features
- ✓Salary advance
- ✓Instant disbursement
- ✓Employer partnerships
- ✓Investment options
Employer-backed loans available
ALAT
Wema Bank
Key Features
- ✓No maintenance fees
- ✓Virtual cards
- ✓Group savings
- ✓Salary advance
Backed by Wema Bank
Branch Loan
Branch
Key Features
- ✓Very low start amount
- ✓Credit building
- ✓International company
- ✓Gradual limit increase
Start from ₦1,000
Branch Loan
Branch
Key Features
- ✓Credit building
- ✓Investment options
- ✓Bill payments
- ✓Bank transfers
Lower minimum loan
Carbon
Carbon
Key Features
- ✓No collateral
- ✓Savings feature
- ✓Investment options
- ✓Early repayment discounts
Most trusted loan app
Carbon Loan
Carbon
Key Features
- ✓Long tenure options
- ✓Credit building
- ✓Savings feature
- ✓Bill payments
Established since 2012
Credit Direct
Credit Direct Limited
Key Features
- ✓Salary advance
- ✓Asset financing
- ✓School fees loans
- ✓Medical loans
Multiple loan products
FairMoney Loan
FairMoney
Key Features
- ✓Highest loan amount
- ✓Longest tenure
- ✓FairSave feature
- ✓Virtual cards
Highest limit (₦3M)
FairMoney Loan
FairMoney
Key Features
- ✓Highest loan limits
- ✓FairSave savings
- ✓Virtual cards
- ✓Long tenure options
Highest loan limits up to ₦3M
First Bank
First Bank of Nigeria
Key Features
- ✓Salary account loans
- ✓SME loans
- ✓Asset financing
- ✓Overdraft
Oldest bank in Nigeria
GTBank
Guaranty Trust Bank
Key Features
- ✓Quick Credit
- ✓Salary advance
- ✓Mobile banking
- ✓USSD loans
Fastest approval
GTBank Quick Credit
GTBank
Key Features
- ✓Salary-backed
- ✓No collateral under ₦2M
- ✓USSD access
- ✓Online banking
Lower interest rates
Kuda
Kuda Bank
Key Features
- ✓Free transfers
- ✓Budget tracking
- ✓Zero fees
- ✓Overdraft
Completely free transfers
Kuda Overdraft
Kuda Bank
Key Features
- ✓Interest-free 14 days
- ✓Auto-repayment
- ✓Free transfers
- ✓Budgeting tools
0% interest for 14 days
Lidya
Lidya
Key Features
- ✓Large business loans
- ✓Revenue-based
- ✓Flexible repayment
- ✓No collateral under ₦5M
Much higher limits
Migo Loan
Migo
Key Features
- ✓USSD access (*561#)
- ✓No smartphone required
- ✓Instant disbursement
- ✓MTN partnership
Works on any phone (USSD)
Mobile App Loan
Loan Apps
Key Features
- ✓Instant approval
- ✓No collateral
- ✓Mobile access
- ✓24/7 availability
Instant approval in minutes
Moniepoint
Moniepoint
Key Features
- ✓Business loans
- ✓POS terminals
- ✓Invoice financing
- ✓Business tools
High business loan limits
OKash
OKash (Opera)
Key Features
- ✓Instant loans
- ✓No collateral
- ✓Flexible repayment
- ✓OPay integration
Very fast approval
OPay Loan
OPay
Key Features
- ✓OPay ecosystem
- ✓Instant wallet disbursement
- ✓POS integration
- ✓Bill payments
Fastest approval
OPay OKash
OPay
Key Features
- ✓Higher limits
- ✓POS services
- ✓Bill payments
- ✓Investments
Much higher limit (₦500K)
PalmCredit
PalmCredit
Key Features
- ✓Instant approval
- ✓No collateral
- ✓Flexible tenure
- ✓Repeat loans
Very fast approval
PalmPay
PalmPay Limited
Key Features
- ✓Instant approval
- ✓Cashback rewards
- ✓Bill payments
- ✓Free transfers
Instant disbursement
PalmPay Loan
PalmPay
Key Features
- ✓No collateral
- ✓Fastest approval
- ✓Low minimum amount
- ✓Cashback rewards
Fastest approval (3 mins)
Paylater (Carbon)
Carbon
Key Features
- ✓High-yield savings
- ✓Bill payments
- ✓Credit building
- ✓Virtual cards
Higher loan limits
QuickCheck
QuickCheck
Key Features
- ✓AI scoring
- ✓No collateral
- ✓Instant decision
- ✓Loyalty rewards
Fast AI approval
QuickCheck
QuickCheck
Key Features
- ✓AI-powered approval
- ✓Salary advance
- ✓Bill payments
- ✓Savings
Uses AI for better rates
Remitly
Remitly
Key Features
- ✓Express delivery
- ✓Cash pickup
- ✓Mobile money
- ✓First transfer free
Express delivery option
Renmoney
Renmoney MFB
Key Features
- ✓Low interest
- ✓High limits
- ✓24-month tenure
- ✓No hidden fees
Lowest rates in market
RenMoney Loan
RenMoney MFB
Key Features
- ✓High loan amounts
- ✓Low interest rates
- ✓Up to 24 months
- ✓Asset financing
Highest loan limit (₦6M)
Traditional Bank Loan
Nigerian Banks
Key Features
- ✓High limits
- ✓Lower annual rates
- ✓Collateral options
- ✓Relationship banking
Much higher loan limits
UBA Personal Loan
UBA
Key Features
- ✓Africa-wide presence
- ✓LEO chatbot
- ✓Mobile banking
- ✓Diaspora loans
Lower minimum (₦50K)
Wise (TransferWise)
Wise
Key Features
- ✓Mid-market rate
- ✓Multi-currency account
- ✓Debit card
- ✓Transparent fees
True mid-market exchange rate
Zenith Bank Personal Loan
Zenith Bank
Key Features
- ✓Salary-backed
- ✓Online application
- ✓No collateral under ₦2M
- ✓Instant credit line
Strong brand reputation
Head-to-Head Comparisons
Aella Credit
VS
RenMoney Loan
Winner: RenMoney (for large loans)
ALAT
VS
Kuda
Winner: Depends on needs
Traditional Bank Loan
VS
Mobile App Loan
Winner: Depends on your situation
Branch Loan
VS
OPay Loan
Winner: Branch for beginners, OPay for speed
Carbon
VS
Branch
Winner: Carbon (for larger loans)
Carbon Loan
VS
FairMoney Loan
Winner: FairMoney (for large loans)
Carbon Loan
VS
OPay Loan
Winner: Depends on loan size and tenure
FairMoney Loan
VS
Branch Loan
Winner: FairMoney for large loans
First Bank
VS
GTBank
Winner: GTBank (for speed and rates)
Frequently Asked Questions
Which loan app has the lowest interest rate in Nigeria?
Based on our comparison, Kuda offers the lowest starting interest rate at 0% flat. However, actual rates vary based on your credit history and loan amount.
Which loan app gives the highest amount in Nigeria?
Lidya offers the highest maximum loan amount of up to ₦50.0M. First-time borrowers typically start with lower limits that increase with good repayment history.
Which loan app approves fastest in Nigeria?
Aella Credit has the fastest approval time at 5 minutes. Most apps now offer near-instant approval for returning customers with good repayment history.
Are these loan apps registered with CBN?
All loan apps featured in our comparison are either registered with the Central Bank of Nigeria (CBN) or operate under licensed microfinance banks. We only include legitimate, regulated lenders.