Wondering about New Loan App 2022 Today in Nigeria? If you are looking for a new loan app in Nigeria for personal or business use, you can’t go wrong with our top list of the New Loan App 2022 Today in Nigeria.
If you meet their requirements, these apps can help you get a loan quickly and with little or no paperwork.
Basically, you have to give your correct information, such as your BVN, bank information, a valid ID, and sometimes a statement from your salary account or your business’s CAC certificate.
Most banks have a long process, lots of paperwork, and high-interest rates, so there’s no doubt that the loan app is a good way to get safe, easy, and almost immediate cash loans in Nigeria.
But you should be aware that there are many fake loan apps in Nigeria that claim to be real. So, I suggest you go with any of the ones below. They have been tried and tested, and you can count on them.
Please also keep in mind that just because you can easily get a loan doesn’t mean you should do it all the time. Don’t ask for a loan unless you really need it and can pay it back.
If you don’t pay, it can hurt your credit score, which can hurt your online reputation and in some cases lead to legal action.
Only borrow money that you know you can pay back, or better yet, borrow from friends or family.
Most of these loan apps don’t require collateral or guarantors, so you don’t have to worry about that.
Interest rates are based on a number of things, such as your credit score, your history of making payments, and the amount.
Most of the time, your chances of getting a loan depend on your credit score, which is based on AI and the answers you give to a short question.
Loan terms range from 4 to 52 weeks, and monthly interest rates can be as low as 5% or as high as 30%.
When you apply for a loan, make sure you give the correct information and that you are in good standing with any other loan applications or banks you are using or have used in the past.
1. Alat By Wema Bank
Alat is a division of Wema Bank Plc that offers a full digital banking system, including instant loans and opportunities to invest.
As of right now, Alat is one of the trustworthy loan apps you can use to get fast loans without collateral.
To get started, download the Alat app for Android or IOS and sign up. If you already have a Wema Bank account, you can use that to sign up.
With Alat, you can instantly get up to 2,000,000.
Loans on the Alat App are made for people who get a salary, want to reach a goal or start a business, or want to buy something like a phone, laptop, or other device.
Another cool thing about the app is that you can add more money to your loan if you need it. You don’t have to wait until your loan is paid off to get another one.
Salary earners will like this app because they can borrow up to 4,000,000 Naira at 2% interest for up to 12 months.
EaseMoni is a new loan app in Nigeria that gives people and businesses loans of up to 1,000,000 Naira.
All you need to get started is your phone and the phone number that goes with your BVN. No need for any kind of collateral or proof.
EaseMoni uses AI to analyze and figure out if you are eligible for a loan. This makes it easy to give out instant loans.
BlueRidge, a Microfinance bank that is registered with CBN, owns EaseMoni.
The interest rate is between 5% and 10% per month, and it can’t be more than 100% per year.
3. Aella Credit
Aella Credit is a great loan app in Nigeria that lets you get your money quickly, usually within 5 minutes, and without any paperwork.
You can borrow up to 1,000,000 Naira without putting anything up as security.
To get started, you’ll need to download the app and sign up. After that, you’ll take a quick eligibility test to find out your credit score, which will determine the amount of the loan, how long it will last, and the interest rate.
The interest rate on Aella App loans ranges from 6% to 20% per month.
For every loan that is paid back on time, the interest paid is refunded in cash and you can borrow more money.
4. PalmCredit Loan
PalmCredit is an app in Nigeria that lets people borrow money quickly and at a low interest rate.
They are one of the few companies in Nigeria that offer instant online loans.
You’ll need to download the app and sign up before you can use it.
You can borrow up to 100,000 Naira without any paperwork or a guarantor, and if you make your payments on time, the loan amount will go up.
PalmCredit is a real company that you can trust. The CBN has fully licensed the parent company, Newedge Finance Ltd, to work as a finance company in Nigeria.
Loans range from 2,500 Naira to 300,000, and the time it takes to pay them back is between 4 and 26 weeks. The monthly interest rate is between 5% and 28%.
The PalmCredit application process is quick, and there are many ways to pay back the loan.
Before it became a Microfinance Bank, the Fairmoney loan app was a loan app.
It offers loans with amounts ranging from 1,500 to 1,000,000 and terms of 60 days to 18 months.
The interest rate varies from 10% to 30% per month.
FairMoney is real and you can count on it if you need cash quickly.
To get started, you’ll need to download the app and sign up by giving the required information, such as your BVN-linked phone number.
With Fairmoney, you can apply for a second loan before the first one is paid off, but this depends on how good your credit is.
The company used to be called KwikCash, but it changed its name to Kwickmoney and is now called Migo to make it seem like a global company.
You don’t need any kind of security or paperwork to get a loan. All you need is a phone number with a BVN.
Through their partners, you can also use the Migo web app to buy your favorite item now and pay for it later.
Depending on your credit score, Migo loans can range from 500 Naira to more than 500,000 Naira.
Most of the time, Migo starts with a small loan amount and increases your loan offers as you get to know the system and build trust in it.
Migo’s interest rates range from 5% to 25%, depending on how you’ve used the service in the past and how good your credit is.
QuickCheck is one of the top New Loan App 2022 Today in Nigeria. It has a low interest rate and gives loans right away if you meet their requirements.
Like all of the other loan apps in this guide, QuickCheck does all of its business through the app, without any collateral or paperwork.
QuickCheck uses machine learning to predict how borrowers will behave and evaluate loan applications right away. This makes it easy to get a loan right away.
Their app also has a nice user interface and is easy to use.
This app is worth checking out.
With QuickCheck, you can borrow anywhere from N1,500 to N500,000 at an interest rate between 2% and 30%.
Verdict On New Loan App 2022 Today in Nigeria
There are so many loan apps in Nigeria now that it can be hard to tell the real ones from the fake ones.
But with our list of the New Loan App 2022 Today in Nigeria, you can rest assured that you will get a real and trustworthy way to get quick cash for any emergency without any hidden fees.