10 Apps for Instant Loan in Nigeria 2023 Without Collateral

There are a lot of apps that lend people money in Nigeria; some are trustworthy why some are not.

To make it easy and prevent scams, I research, list out, and explain the best and the most used apps for borrowing loans in Nigeria. To learn more about these loan apps, read the article below now.

Carbon Loan

Carbon, formally known as Paylater, is one of the leading and most rated apps to request a loan in Nigeria. With your smartphone, you can request up to N1,000 000 loan on carbon, investments, and management finance within a minute.

The carbon loan has a unique feature that makes it different from other loan apps in Nigeria; when requesting a loan, you don’t need to present collateral, No guarantors or paperwork. Also, when you request a loan and pay before the due date, you will be paid 10 – 100% cashback on the loan you borrowed.

Kindly download their app on play store or AppStore to sign up or visit their website for more info to get started with carbon.


Fair money is a digital bank that borrows people’s loans for personal use or to fund their business. They borrow loans without requesting collateral or presenting paperwork. If you sign up with fair money, you will be opportune to get loans from ₦1,500 – ₦1 million, have access to a bank account with free transfers, and a debit card for online and offline purchases.

Moreover, users on fair money can repay their loan from 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%). To benefit from fair money, kindly sign up with them by downloading their app on the play store or Appstore. For more info, visit the Fairmoney website.

Jumia Loan App

Being the most prominent and strongest e-commerce company in Nigeria, JUMIA allow individual and businesses to borrow loans online. With the jumia loan app, you can borrow up to N100,000 without presenting collateral or paperwork.

To be able to borrow a loan on jumia, you are required to download the JumiaPay Android app. The benefit of borrowing a loan on the jumia loan app includes ease to apply and require No paperwork, lending money within a few minutes, low interest on loans, easy repayment, and the ability to borrow big loans. To learn more about the jumia loan app, visit their website. 

Branch Loan App

The branch is a mobile loan app that gives instant loans from #2,000 to ₦500,000, invests, and earns 20% interest. Its loan terms range from 4-52 weeks, and its interest rate ranges from 17% – 40%.

When applying for a loan on the branch loan app, you don’t need to present collateral or any document, no rollover or late fee.

To get started with the Branch loan app, visit their website or download their app on Appstore or Playstore.

Quickcheck Loan

Quickcheck is a mobile loan app that uses machines to predict borrowers’ behavior before borrowing them money. The app is easy to use, and they lend faster than other platforms.

With Quickcheck, you can borrow #30,000 and pay an interest rate as low as 2% – 30%.

Learn more about them by visiting their website or downloading their app.

KwikMoney (MIGO)

The Migo app is one of the best mobile loan apps you can use to request a loan online. If you are willing to borrow a loan, you can try Migo because when requesting for a loan, you don’t need to present any document, and it takes 2 minutes to get their loan. You can borrow up to N500,000 on Migo, and the interest rate you will pay on Migo loan is 5 % to 15%.

Kindly visit their website or download their app on the application stores to enjoy their service.


Lcredit is one of the best apps to borrow a loan online; it is a platform that allows you to borrow loans up to up to ₦200,000 and pay flexible low interest when repaying the loan. Lcredit has the best interest rates, and it credit your account immediately you request for a loan. It has 30 days extension for payment.

To learn more about them, visit their website or download their app on AppStore or play store. 

Kia Kia Loan

KIA KIA is the Best Peer-2-Peer Lending Platform that allows Nigeria to borrow loans within a few seconds. It allows its users to Borrow loans at a flexible interest rate as low as 6.5% and Earn over 28% as a return on funds. With Kia Kia, you can borrow up to N10,000 to N100 Million and pay it back within 30 days or 24 months.

To get started with them, download their app on Playstore or AppStore.

Opay Loan – Okash

OKash is a Micro-lending product that is provided by Blue Ridge Microfinance bank to borrow people loans by downloading their app. When you sign up on opay loan app you will be required to add your bank info, your bank card for payment, and little questions to borrow grant you a loan up to #50,000 instantly.

The amazing fact about them is that they don’t request for collateral or paperwork before they borrow you a loan. To get started with opay loan download their app on play store.

Renmoney Loan

The fact that Renmoney loan app was added at the last part of this article doesn’t mean it is not the best. It is a great app that allows Nigerians to borrow a loan without a guarantor or collateral. Renmoney can lend you a loan as much as #6million naira and allow you to pay it back within three months or two years (24 months).

To get started with them, visit their site to learn more or their app on playstore.

In conclusion, using loans app like Carbon loans, Fairmoney, LCredit, and others can easily help you get a loan to finance yourself or your business. Signing up and unlocking the great benefit is the main way to earn the most on these platforms.

So if you have chosen one or two out of the loan app above, kindly go to read more about them on their website and download their app. If you have a question, kindly use the comment box below to drop your opinion.

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