Best Loan App in Nigeria with Low Interest Rate 2024

Best Loan App In Nigeria With Low Interest Rate 2024

Easemoni

Easemoni is a loan app that offers loans to Nigerians with a flexible repayment plan.

The interest rates on Easemoni loans range from 5% to 20% per month, depending on your credit history and repayment capacity.

You can borrow between N5,000 and N500,000, with repayment periods ranging from 14 to 60 days.

Easemoni also offers a referral bonus program, where users can earn extra cash by inviting friends to use the app.

Okash

Okash is a popular loan app in Nigeria that offers loans to users with little or no credit history.

The app allowed users to borrow between N2,000 and N500,000 with interest rates ranging from 5% to 25% per month.

Read: Best Banks with Low Charges in Nigeria (2024)

Okash’s repayment period ranged from 14 to 60 days, depending on the user’s loan amount and creditworthiness.

The app also offered a referral bonus program for users who invited friends to join the platform.

Fairmoney

Fairmoney is a loan app that provides quick and convenient loans to Nigerians, with interest rates ranging from 4% to 20% per month and it’s one of the Best Loan App in Nigeria with Low Interest Rate 2024.

Users can borrow between N5,000 and N150,000, with repayment periods ranging from 10 to 60 days.

Fairmoney offers a fast application process, making it an attractive option for those in need of quick cash.

Renmoney

Renmoney is a digital lending platform that provides personal loans to Nigerians with interest rates starting from 2% per month.

As a user, you can borrow between N10,000 and N3,000,000, with repayment periods ranging from 3 to 12 months.

Renmoney’s loans are designed for individuals looking for longer-term financial solutions, as it offers a more structured and formal lending process compared to some other apps.

Aella Credit

Aella Credit is a loan app that offers loans to Nigerians with interest rates starting from 2% per month.

Being a user, you can borrow between N5,000 and N500,000, with repayment periods ranging from 14 to 60 days.

Aella Credit’s loan application process is simple and quick, making it a popular choice for those seeking immediate financial assistance.

To get started, you first have to download the app from the Google play store or Apple app store, follow the registration process and apply for a loan.

In addition, Aella Credit goes beyond being a loan app, you can save money, pay bills, buy airtime & data etc.

Palmpay

Palmpay isn’t primarily a loan app like okash, easemoni; rather, it is a digital wallet and loan app that provides loans to Nigerians with interest rates starting from 2% per month.

If you’re a signed up user, you can borrow between N5,000 and N500,000, with repayment periods ranging from 7 to 60 days depending on the amount of money you borrowed.

Palmpay also offers various features, such as mobile top-up, bill payments, and a referral bonus program.

Quickcheck

Quickcheck is a loan app that offers loans to Nigerians with interest rates starting from 5% per month.

With this uniquely designed loan app, you can get a loan which ranges between N1,000 and N100,000, with repayment periods ranging from 7 to 30 days.

Quickcheck’s loan application process is quick and easy, making it an attractive option for those seeking immediate financial assistance.

Carbon (formerly Carbon)

Carbon (formerly Paylater) is a loan app that offers loans to Nigerians with interest rates starting from 5% per month.

The minimum and maximum borrowing limits range between N1,000 and N100,000, with repayment periods ranging from 7 to 30 days.

Carbon’s loan application process is quick and easy, making it an attractive option for those seeking immediate financial assistance.

Branch

Branch is a digital lending platform like Aella Credit, Branch, Palmpay etc that provides personal loans to Nigerians with interest rates starting from 5% per month.

If you’re a user, you can apply for a loan which ranges between N1,000 and N150,000, with repayment periods ranging from 14 to 60 days.

Branch’s loan application process is simple and quick, making it a popular choice for those seeking immediate financial assistance.

Migo

The last but definitely not the least on Best Loan App in Nigeria with Low Interest Rate 2024 is Migo.

Migo is a loan app that offers loans to Nigerians with interest rates starting from 5% per month.

If you’re a signed up user, you can borrow between N1,000 and N100,000, with repayment periods which usually range from 7 to 30 days.

Migo’s loan application process is quick and easy, like other loan apps.

If you meet the Migo’s eligibility requirements, your loan should be disbursed in less than 5 minutes.

FAQs On Best Loan App in Nigeria with Low Interest Rate 2024

Here are some helpful frequently asked questions on Best Loan App in Nigeria with Low Interest Rate 2024 with their respective answers:

Which loan app has a lower interest rate?

As mentioned earlier, Carbon is a popular choice for instant loans at the lowest interest rates in Nigeria.

The app uses a unique algorithm to assess your creditworthiness and offers loans with competitive interest rates.

Carbon offers instant loans with interest rates as low as 5% per month. This makes it one of the most affordable options for borrowers in Nigeria.

Where can I get 50,000 Naira Loan Instantly in Nigeria?

While Carbon offers loans up to 500,000 Naira, other loan apps in Nigeria also provide instant loans of 50,000 Naira.

One such app is PalmCredit.

PalmCredit is another popular loan app in Nigeria that offers instant loans of up to 50,000 Naira. The app is known for its fast approval process and competitive interest rates.

Can I get a loan with low interest rate in Nigeria?

As mentioned earlier, Carbon is a popular choice for its low-interest rates, making it one of the best options for those looking for a loan app with the lowest interest rate in Nigeria.

Carbon offers loans with interest rates as low as 5% per month, making it one of the most affordable loan apps in the Nigerian market.