Top 10 Online Loan Apps in Nigeria Without Collateral (2025 Update)

Getting access to quick and stress-free loans has become easier than ever in Nigeria, thanks to digital lending platforms. Whether you're dealing with an emergency or need urgent capital to support your hustle, these mobile loan apps offer instant loans without requiring any collateral or guarantor.

In this 2025 update, we review the Top 10 Online Loan Apps in Nigeria that are reliable, fast, and safe for individuals and small businesses.

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1. Carbon (formerly Paylater)

Website: www.getcarbon.co
Google Play Rating: ★★★★☆

Carbon is one of Nigeria’s most trusted and long-standing loan platforms. With just your smartphone and BVN, you can access loans from ₦5,000 to ₦1,000,000 instantly. The app also offers bill payments, savings, and investment options.

• No paperwork or collateral needed

• Fast disbursement

• Flexible repayment plans

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2. Branch

Website: www.branch.com.ng
Google Play Rating: ★★★★☆

Branch is a popular loan app in Nigeria that uses smartphone data to determine your creditworthiness. Loan amounts range from ₦1,000 to ₦500,000 with competitive interest rates.

• Simple registration

• No hidden fees

• Repayment between 4 to 40 weeks

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3. FairMoney

Website: www.fairmoney.io
Google Play Rating: ★★★★☆

FairMoney offers fast loans without collateral, and the app also lets users pay for utilities and buy airtime. You can borrow between ₦1,500 and ₦1,000,000 depending on your credit history.

• Instant disbursement within 5 minutes

• Interest rates from 2.5% monthly

• Repayment tenure: 1–18 months

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4. PalmCredit

Website: www.palmcredit.co
Google Play Rating: ★★★★☆

PalmCredit is a reliable online loan app that allows you to borrow up to ₦300,000 without collateral. Approval is quick and entirely mobile-based.

• Great for short-term needs

• Low-interest rates

• Early repayment earns rewards

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5. QuickCheck

Website: www.quickcheck.ng
Google Play Rating: ★★★★☆

QuickCheck uses AI to provide fast and secure loans to Nigerians. First-time users can get up to ₦10,000, which increases as you repay on time.

• Easy sign-up process

• No collateral

• Repay in 4 to 12 weeks

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6. Aella Credit

Website: www.aellaapp.com
Google Play Rating: ★★★★☆

Aella Credit targets both individuals and employees. With BVN and phone verification, you can access up to ₦1,000,000.

• No paperwork

• Fast approval within minutes

• Credit score building features

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7. Okash (by OPay)

Website: www.okash.ng
Google Play Rating: ★★★☆☆

Okash is a lending service powered by the OPay platform. It's well-known for its instant crediting and flexible repayment structure.

• Loans from ₦3,000 to ₦500,000

• Low credit barriers

• Integrated with the OPay wallet

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8. Renmoney

Website: www.renmoney.com
Google Play Rating: ★★★★☆

Renmoney offers larger loans and is ideal for business owners or salary earners. Though more documentation is required than others, collateral isn’t necessary.

• Loans up to ₦6 million

• Repayment tenure: 3–24 months

• Requires valid ID and bank statement

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9. Lendigo

Website: www.lendigo.ng
Google Play Rating: ★★★★☆

Lendigo is a business-focused loan platform offering collateral-free loans to SMEs in Nigeria. Great for small business owners and e-commerce sellers.

• Tailored for businesses

• Up to ₦10 million depending on revenue

• Requires business registration and account statements

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10. Migo (formerly KwikMoney)

Website: www.migo.money
Google Play Rating: ★★★★☆

Migo offers loans via USSD and mobile apps. It works seamlessly with telecom and bank partners, and doesn’t require any app download to get started.

• Loans up to ₦500,000

• No app required

• USSD: *561# (via partner banks)

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⚠️ Things to Note Before Using Loan Apps:

• Always read the terms and conditions carefully.

• Check for hidden charges or processing fees.

• Repay on time to avoid high interest and penalties.

• Only borrow what you can comfortably repay.

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Final Thoughts

In 2025, getting a loan in Nigeria no longer requires the stress of going to banks or providing collateral. These top 10 loan apps offer a convenient, fast, and secure way to access credit when you need it most.

Always make sure you are dealing with CBN-licensed lenders, and prioritize apps with positive user reviews and transparent practices.

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Which of these loan apps have you used before? Share your experience in the comments!

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