Wondering Which App Gives Loan Faster in Nigeria? Many people today get loans for personal and business use, to pay bills and cover expenses, when they are having trouble with money or in an emergency. Today, banks are no longer the only ones who can give loans and are responsible for them.
There are now a lot of platforms and institutions that make it easy and quick to get small and medium-sized loans, with instant payments, low annual interest rates, and enough time to pay them back. These platforms are safe and reliable, and you can use them by downloading an app on your phone.
Find out about the 5 best loan apps in Nigeria by reading on.
1. ALAT
The first app on this list of the best loan apps in Nigeria is the first fully digital bank in Nigeria. This is a simple, digital platform that makes it easy to get loans quickly and without any paperwork. ALAT doesn’t need you to go to a physical location, and the time between accepting a loan and getting the money is only a few minutes.
Just do the following:
You can get the app from the Play Store or the App Store.
Sign up, then go to the menu and click on the loan option.
After you’ve turned in all the necessary paperwork, your risk store will be evaluated, and you’ll be given a list of loan options, along with the length of time and interest rate for each.
Your account will be credited once you click on the loan offer you want and accept it. With this platform, you can borrow up to 2,000,000 Naira without putting anything up as security.
ALAT loan also has a number of other services, like the Device-lending offer and the Goal-based loan, which let you get a loan to help you reach a certain goal or buy a device or gadget you want. The interest rate is also made to help the person using it. Salary earners can get anywhere from N50,000 to N4 million in just a few hours. They will have between 3 and 24 months to pay back the loan, with only 2% interest per month and a balance that goes down each month.
2. Carbon
This easy-to-use lending platform used to be called PayLater. You can get a loan within minutes. It lets you borrow money for a short amount of time to pay for immediate costs and emergencies. You can easily ask for and get a loan without having to fill out any paperwork. To check your loan credit, all you need is your bank verification number (BVN). With this app, you can get up to N20,000,000 with interest rates between 5% and 15%.
3. Branch
Branch is another trustworthy loan app that lets you get up to N200,000 in 24 hours with as little as N1000. Loans must be paid back within 4 to 40 weeks, and the interest rates vary based on the amount of the loan and the user’s history of paying back loans. You don’t need any collateral or paperwork to get a loan through this platform. All you need is your phone number and bank verification number.
4. PalmCredit
It’s easy to borrow money from the PalmCredit app and only takes a few minutes. It has a simple service that lets people who use the app get instant loans from N2000 to N100,000 without much trouble. People who want to get the loans, though, must be at least 18 years old. The app also rewards people who tell their friends about the loan service.
5. AellaCredit
AellaCredit focuses on lending to employees and lets its users get quick loans with interest rates between 6% and 20% per month. Loans must be paid back within 3 months. AellaCRedit also offers other financial services like investments, paying bills, and low-cost insurance.
