Application Eligibility. 04 and is based upon you agreeing to make 5 payments of $128. 1. There are 173 legitimate loan apps in Nigeria, according to the latest approval notice issued by the Federal Competition and Consumer Protection Commission (FCCPC). Apply For ₦10,000 to ₦100,000 (Min loan amount = ₦10,000) (Max loan amount = ₦100,000) (Loan Tenure = 30 Days) FixedNira Finance. The list of fake loan apps in Nigeria is growing everyday especially due to the increase in mobile technology which has led to high demand for quick loans in Nigeria. Nicenaira is a payday loan app in Nigeria, in a normal term it is an… Read More. Using a $500 loan with biweekly payments as an example: 12 Month 1 Loan Term - A $500 loan would cost $1,880. 50 and has an APR (Annual Percentage Rate) of 482. Branch is one of the top loan apps in Nigeria. 1 lakh in just 3 mins! Take a look at the features and benefits of their flagship product -. The company equally provides loans to household individuals and. They presently have over 10 million downloads and give quick online loans with. Installment loans are convenient loans that are repaid in two or more payments over time. 1: Umba. At this place you can get a fast approval of your loan since the institution won’t cavil about your credit ratings score. 1. 07) with repayment periods from 61 days to 1 year at monthly interest rates between 2. What Is It About the Loan With Fitloan - (Original SpeedLoan) ? √Cash Loan Amount: ₦2,000 - ₦600,000 √Cash Loan Term: 91 days (shortest, containing renewal time) - 365 days (longest, containing renewal time) √Interest rate: Maximum APR is 20% per year √Transaction fee: 0. Aella Credit presently operates in Nigeria, Ghana, and the Philippines, allows users, particularly employees, to receive loans from ₦2000 to ₦100,000,000. 5% to 30%. More details. Moneytree also offers payday loans, title loans and business loans and sells prepaid debit cards. QuickCheck loan is disbursed through the mobile app, which users can download, install and apply for a loan. Loan Amount. *. FairMoney. com Get started. Irorun Loan App, one of the new loan apps in Nigeria, is making waves with its simple and customer-friendly approach. 51 due every two weeks and one final payment of $128. Popular budgeting app Moneytree will cease operations in Australia in January. Same day approval and funding - just complete a simple application. If you are an existing Moneytree Customer, and do not have an online account, you can register online or call 1-800-745-1011 24 hours a day, 7 days a week, for assistance. He sent me the details on WhatsApp. The Money Tree Loan App is a quick way to borrow money if you need it quickly. 99% (depending on lender). 33 due every two weeks and one final payment of $72. 82 which includes finance charges of $1,380. Similarly, imoney Nigeria, a lending app that is notorious for predatory loan terms and collection agents that use every foul tactic in the book, is known to be owned by XGO Finance Limited, which also owns two other loan apps: Credit9ja and XCredit. With over 10,000 daily loan disbursements, and over 5 million users enjoying banking, savings, and investment services, FairMoney helps the average Nigerian access finance tools to take control of both their life and their finances. 51 due every two weeks and one final payment of $128. Ajobox. In the bustling realm of loan apps in Nigeria, a multitude of options beckon to offer you swift. The face verification process might be a hurdle due to privacy concerns, technical challenges, or simply personal. 12% to 2. For charging clients questionable high interest rates. PalmCredit: Palmcredit is the next among all of the top lending applications in Nigeria. View this post on Instagram. Key Features and Benefits. Download Moneytree - Finance Made Easy and enjoy it on your iPhone, iPad and iPod touch. Nellis branch, our Flamingo Park branch, and our W. FairMoney. Just like Carbon, the Branch app unlocks more significant loan amounts when you make your loan payment early. 51 due every two weeks and one final payment of $128. With over 10 million downloads, FairMoney is arguably Nigeria’s most popular loan app. It is the only online banking app in Nigeria that lets you transfer money, gives you 2% cash back for every bill you pay, invest to earn up to 15% returns, and borrow money. Up to 260%. Some of the approved loan apps listed by the commission include Branch International Financial Services Limited, Fairmoney Micro Finance Bank, Pivo Technology Limited,. In an announcement last week, the. 613. Availability of funds: loan apps have certain amounts they have programmed their computers to borrow customers. 680. NerdWallet rating. It provides users with secure and convenient small loans. We reviewed nine popular lenders based on eight data points in the categories of loan details, loan costs, perks, customer experience and funding speed. Terms Available. Criteria for Selection: Choosing the Right Monthly Loan App in Nigeria. 4% – 9. Use the TrueNaira Loan app to get instant cash within 24 hours. 04 and is based upon you agreeing to make 5 payments of $128. With the Brigit mobile app, you can link a checking account that receives regular direct deposit paychecks and receive up to $250 in payday advance funds at no charge to you. your balance and more. 32%. How to identify fake loan apps in Nigeria. Cash Mall. 04 which includes finance charges of $271. The app offers loans ranging from ₦1,000 to ₦200,000 with interest rates that range from 14% to 28% and loan tenures ranging from 4 weeks to 15 months. 51 due every two weeks and one final payment of $128. Download FairMoney. This loan app has provided millions of users the opportunity to obtain loans with ease and a flexible repayment mode. On my list of loan giving apps in Nigeria, I have QuickCheck loan . We offer cash loan credit funds of up to NGN 50,000 with services. They wrongly accuse the person who took the loan of crimes, or even send scary pictures. The platform caters to a wide range of financial needs, providing loan amounts starting from NGN 3,000 and going up to NGN 500,000. Bring in any type of business or personal check to your nearest location in. Specta. The approved loan apps have been brought under the provisions of the Limited Interim Regulatory Framework and Guidelines for Digital Lending 2022 aimed at regulating their operations. Advertising. individuals and businesses) in need of cash. 49 with an APR (Annual Percentage Rate) of 363. You can borrow any amount up to your loan limit. 5% to 30% per month depending on the amount and term. Nigeria’s first-ever fully digital bank is the first on this list of best loan apps in Nigeria. *The Annual Percentage Rate ("APR") is the cost of your loan expressed as a yearly rate. You can borrow any amount up to your loan limit. Moneytree is a direct lender that offers installment personal loans in four states. Request for Sensitive Financial Information. In August, the commission requested Google to remove four apps from its Play store. 82 which includes finance charges of $1,380. The top 10 loan apps in Nigeria for 2023 include Paycredit, QuickCheck, Alat by Wema, Branch, Aella Credit, Carbon, KiaKia, FairMoney, Okash, Umba Instant etc. below are the lists of 10 best apps we’ve piled together that can be you to access loans in no time: Branch. dreams. For example, a $1,000 loan due in 30 days. Unlike most other cash advance apps, Brigit doesn’t ask users to provide a tip. Loan App Best for Fees Time to Fund Repayment term; MoneyLion. In Nigeria, the popularity of online lending is exploding. 04 and is based upon you agreeing to make 5 payments of $128. Moneytree. When they confirm your data, you can get a loan from them within 5 minutes. Very easy. On Palmcredit getting quick online loans is also very easy and quick. Limit Amount of ₦100,000 2. 1. Apply Now . Out of the total 173 instant loan companies, 119 have been given full approval to operate, while 54 are on conditional approval. 1 Subject to qualifications and limitations. 08%*. JumiaPay. Also, it might seem a little but it is wise to keep the amount small to avoid default payments on the part of the client. Your clients have worked hard, saved, and invested, all in the hope of creating a brighter future for themselves and those around them. Best instant personal loan apps in Nigeria with lowest interest rates. Experts attribute the pandemic, which caused millions of Nigerians to lose their jobs and dozens of businesses to close, as well as other factors for the rapid growth in the. • Receipt Matching. Top 10 Best Loan Apps In Nigeria. • Receipt Storage. Enter the details of your job, including the payment method, the date of your next paycheck, and your bank account details. Lydia assesses the credit risk of every business seeking a loan. This Nigeria loan app offers businesses credits of $500 and $50,000. Interest rate: 5% 4. Getting money quickly is needed today. Renmoney. QuickCheck. Enjoy an easy loan application on one of the best lending platforms in Nigeria. EaseMoni is another wonderful loan app in Nigeria for getting both short and long-term loans. Your loan limit is established after your application is approved and may be less than the maximum loan amount. 1. Receive updates about Moneytree products, offers and promotions. $15 per $100 up to $500 and $10 per $100 on amounts over $500 A payday loan costs $15 per $100 borrowed up to $500, and $10 per $100 on the amount over $500. One of them is MoneyTree Quick Loan. The UBA Personal Loan product is designed to support all salary earners in meeting their lifelong. 5 / 5: ★★★★★. Palmcredit. EaseMoni is a personal loan app with a Central Bank of Nigeria microfinance license. Identity verification: BVN is a unique 11-digit number that is linked to a person’s biometric data, such as their fingerprints and facial features. Contact our Customer Service department to ask general questions about our. FairMoney loan app 2. Installment loans are convenient loans that are repaid in two or more payments over time. Money In Minutes, one of the popular loan apps in Nigeria, offers its Elite Quick Loan at a very low-interest rate. ”. 5% to 17% depending on the loan amount and repayment term. LAST UPDATED: December 29th, 2022. You may choose this option once per 12-month period. 6. 1. In the bustling realm of loan apps in Nigeria, a multitude of options beckon to offer you swift financial assistance. After completing the login, you can access loans. If you have any questions, please call 1-800-745-1011. 2. 500 - 10,000 PHP. 1. *. Nigerian authorities have finally risen to the challenges and threats posed by illegal loan apps and loan sharks operating in the country by banning the operations of many of them. Renmoney App is one of the best loan apps in Nigeria with low interest rate. It offers borrowers single-payment loans, installment loans, and payroll loans. Aella credit. Just like Carbon, the Branch app unlocks more significant loan amounts when you make your loan payment early. Same day approval and funding - just complete a simple application. KashOn Loan App: Download And Apply Now. A business loan costs approximately $175 per $1,000 borrowed. Online advocacy groups and loan firm victims have devised ways to stop calls, alleged intimidation, and harassment by loan app debt collection agents because, according to them, regulatory. Download the Palmcredit App to get instant and flexible loans at affordable rates. Here’s why: Quick Processing: Many offer instant 5 million naira loan without collateral in Nigeria. Get Started Here. They also provide other financial services, such as check cashing and wire transfers. The Migo Loan App can help. 61%. 2. BACK TO TOP. Borrow money online with Easemoni app, downlaod Easemoni to get cash loan now!🎉. Palmcredit loan 4. A 14-day loan of $100 would cost $117. 04 which includes finance charges of $271. Launched in 2017, Moneytree connected to over 50 financial institutions in Australia and created a total net worth based on the user's bank accounts, debts, loans, investments, and superannuation. 2 /5. It is one of the best loan apps in Nigeria, with tight monthly interest rates ranging from 2. Age: From 21- 60 years; Min Loan:. - Custom repayment schedule - unlike the other lenders, we allow you settle your loan in split payments, pay parts of your loan whenever you have it. Business Loans. 3 Min Read. Licensed by. If you want to borrow money without BVN in Nigeria quickly, OKash can be your go-to option. Branch’s APR (Annual Percentage Rate) runs. Branch is one of the top loan apps in Nigeria. Kia Kia loans as it implies in Yoruba dialect means fast loan and of course the platform is not just on the list of best loan apps in Nigeria for fun, it appears to be a reliable loan platform that offers secure loans for small, medium and huge business enterprise. Carbon. Your initial loan limit is established based on: Your income; The information you provide on your loan application; The information in your consumer report provided by a consumer reporting agency It’s definitely one of the best loan apps in Nigeria. - Repayment periods between 90 days - 180 days. EasyCredit (1 million downloads) EasyCredit prides itself as a secure, reliable, and online loan app in Nigeria. Also Read: Lapo: How to Obtain a Personal Loan. *. 50, or 482. The Loan Apps are; Clan App, Nextpayday App, Aladdin Digital App. Once a loan app is banned, it will no longer be available on Google Play Store for download. Branch (10 million plus downloads) The branch is a platform that offers quick online loans in Nigeria. 4. com. The fees and interest for a business loan vary based on the amount borrowed and the length of the loan. Apply for approval. Moneytree is a family-run business that’s been providing retail financial services to Customers since 1983. You can apply for a SmartLoan loan 24 hours a day, 7 days a week with our quick application process that lets you know your status within minutes. Your loan limit is established after your application is approved and may be less than the maximum loan amount. 48%. 08%*. 57 with an APR (Annual Percentage Rate) of 363. After installation, launch the app. Limit Term: 2 months 3. Irorun Loan App. Interest: NGN 10,000 times 30%/365 times 91 equals NGN 748. 32 percent. Specta Loan App. Moneytree offers fast, flexible and immediate business loans. 1. '. in Industries, Tech News. To ensure safe borrowing, nairaCompare has curated a list of the 10 best loan apps in 2023 that have been approved by the central bank. Branch is a simple yet powerful mobile loan app in Nigeria and Kenya. *The Annual Percentage Rate ("APR") is the cost of your loan expressed as. Some of the notorious loan apps banned in Nigeria include GoCash, OKash, EasyCredit, Kashkash, Speedy Choice, EasyMoni, Sokoloan, BorrowNow, 9Credit among other. FairMoney Online Loan App answers your cash needs fast and easy! - Instant personal loans from ₹1,000 up to ₹60,000. √ A minimum loan of NGN 5,000 with a ID Card. Carbon. Same day approval and funding - just complete a simple application. Use Money Tree as your free money tracker to save money and build piles of cash. Carbon, also known as PayLater, is the top app on the list of the top loans apps in Nigeria. We empower individuals with credit, simple payments solutions, high-yield investment opportunities, and easy-to-use tools for personal financial management. Moneytree’s Customer Service Team is Open 24 Hours, seven days a week 364 days a year (every day except Christmas Day). 3 Month Loan Term: A $500 loan would cost $771. According to the motion, these unregulated Nigerian fintech companies shame, threaten customers for late payment of loans; Cognizance of the need to investigate activities these fintech companies. 6). EaseMoni. A business loan costs approximately $175 per $1,000 borrowed. Moneytree offers financial services to fit your needs, including check cashing, borrowing options, wire transfers, prepaid debit cards, money orders and more. QuickCheck loan is disbursed through the mobile app, which users can download, install and apply for a loan. 51 due every two weeks and one final payment of $128. If you want a loan with longer repayment term, consider taking a business loan from your commercial bank. FairMoney is another fast, reliable and free Android loan app that’s available in Nigeria and India. 4. Palmcredit How to Apply for Palmcredit Loan 6. 82 which includes finance charges of $1,380. Idaho: The cost of a $100 payday loan is $18. Moneytree Plan is a comprehensive solution with both goal-based and cash-flow tools that empowers you to be as customized as you need to be. Numerous loan apps in Nigeria currently offer various interest rates, repayment terms, and loan amounts. Please visit us at our N. The interest rates on QuickCheck loans range from 2% to 30%, with an equivalent monthly interest rate of 1% to 21%. Loans range from ₦1,500 to ₦500,000 with terms. 30-45 minutes, but can take longer. 49 with an APR (Annual Percentage Rate) of 363. DEFRAGMENT YOUR FINANCIAL LIFE Moneytree brings together everything. Loan amounts on this app range between ₦1,500 ($3. Apply online. Address: 60 Adeniyi Jones Ave, ikeja, lagos, Nigeria. Find a reliable IT financial service provider. Online loan apps are designed to provide quick cash for emergency use only. *. Loan App Loan Amount Offered Loan Tenure; Carbon (Paylater) N5000 to N1,000,000: 15 days - 180 days: Aella Credit: N5000 to N1,000,000: 14 days - 180 days: PalmCredit: N5000 to N100,000: 14 days - 120 days: Branch:Meet Carbon, a credit - led pan African digital bank, your all in one app for easy money management. With this product, you can cover medical bills, make home improvements, give your side. Check Out: Loan Apps that Give 1 Million Naira Loan in Nigeria. Online Loan Apps: Full List, Profiles of 7 Digital Money Lenders Shut Down by FG. Your initial loan limit is established based on: Your income; The information you provide on your loan application; The information in your consumer report provided by a consumer reporting agencyBusiness Loans. 51 due every two weeks and one final payment of $128. The interest rates can be as high as 75 per cent to 395 per cent per year. Branch. Loan apps in Nigeria provide a convenient and accessible way to borrow money quickly and easily; The top 5 loan apps in Nigeria are X, Y, Z, A, and B; To choose the right loan app for you, consider your borrowing needs, research and compare loan apps, and apply for the loan; Emphasize the importance of responsible borrowing and. Moneytree is not responsible for bank, processor and other third party posting delays or errors. 745. 50 per $100 borrowed. 5 Best Personal Loan Apps in Nigeria 1. 9. This process should take 10 to 20 minutes. Charges. The app is one of the best loan apps in Nigeria because; 1 Limit range from NGN10,000 to NGN300,000. Quickchek. Idaho: A payday loan costs $18. # RATES AND FEES # NIGERIA: Loans range loans from 10,000 to 300,000 with terms from 62 days to 180 days. TRADE DEPOT. The Moneytree story started from humble beginnings and our success has been built through hard work, happy customers, a great Team and a little bit of luck. In most instances funds are transferred in approx. Step 3. Sahara branch or visit us online. FINT is Nigeria’s first loan platform and that’s why it was able to make it to the list of how to get instant Loans in Nigeria. Under the address to the bank, “Dear Ma/Sir” should be written. With the Brigit mobile app, you can link a checking account that receives regular direct deposit paychecks and receive up to $250 in payday advance funds at no charge to you. Total Amount Disbursed: NGN 10,000 (10,000 – 0) Service Fee: NGN 20,000 x 0% = NGN 0. *. Next on my list of loan apps in Nigeria is Aella credit. From payday loans, to title loans and installment loans, we have a variety of. Download, install and launch the XCredit app on your phone. Call us today on 012716816 or send an email to: [email protected] Need a Loan of 50,000 Naira in Nigeria. For granting loans for only 7 days instead of the. Terms Available. 5% and 30%. The information you provide on your loan application; The information in your consumer report provided by a consumer reporting agency;The Nigerian government has delisted 37 suspicious loan apps, according to the Federal Competition and Consumer Protection Commission’s new report. Loan apps with low interest rates are top-rated among borrowers in Nigeria. Related: Loan Apps that Give Higher Amount in Nigeria. 50. Installment Loans are available from $50 to $5,000 1. For example, a $100 loan due in 14 days would have a total repayment of $116. At the end of the third quarter of 2022, the digital lending market was estimated to be worth over $1 billion. JumiaOne is yet another very reputable loan app that give instant loan without BVN in Nigeria. QuickCheck is a popular loan platform in Nigeria that gives Nigerians loans without collateral. Carbon, formerly Paylater, is a well-established player in the Nigerian loan app landscape. This makes it a very reliable way to verify someone’s identity. 50 and has an APR (Annual Percentage Rate) of 430. Also, it might seem a little but it is wise to keep the amount small to avoid default payments on the part of the client. Camelloan Cashlawn Nairaloan Eaglecash Moneytreefinance Made Easy Luckyloan, and Cashme. I received a call from their staff that they noticed I had a good credit rating and would like to offer me a loan of N50k for 30 days, to pay back 60k. Download Moneytree - Finance Made Easy and enjoy it on your. • Receipt Matching. Moneytree just played a fast one on me today. The Federal Competition and Consumer Protection Commission (FCCPC), which is the highest federal competition regulator in Nigeria, has approved the operations of 160 companies as digital money lenders in Nigeria. Snap Credit. Track and simplify your personal finances with our easy spending and payment options. Fill in your Bank Verification Number (BVN) and add your ATM card. Repayment Methods: Palmpay Wallet Fund & Debit Card. Branch is much more than an online loan app to borrow instant cash. Interest rates: 5. Features. The Fairmoney platform allows monthly instalment payments as the interest rate is flexible and user-friendly. Fairmoney one of the top 20 loan apps in Nigeria offers quick loans, and it enables you to borrow money in sums ranging from N15,000 to N1,000,000 at interest rates that range from 2. Many of our services are available online and we also have retail branches located throughout Southern California, Colorado, Idaho, Nevada, Washington, and British Columbia, Canada. 10. Fairmoney. Renmoney offers loans up to N6 million with interest rates starting from 2. The table below shows the list of the best 10 loan apps in Nigeria, the amount offered and the duration. 4. Quickcheck. Their personal cash loans range from ₦2,000 to. 6) to ₦500,000 ($1215. 14. Carbon, formerly known as Pay Later, is the first on our list of legit and good online loan app in Nigeria, It is one of the best loan companies that provides loans without collateral. Download and install the app. A move spurred by venture capitalists funding, as the fintech industry’s projected revenue grew from $414 million in 2014 to $608 million in 2018. Carbon (PayLater) Minimum loan amount: ₦1,500. Interest rates on Renmoney loans start. 2% to 35. 5% to 28. 13. 5. best loan app for iPhone. Loan amount up to 75% of net annual salary (for applicants with terminal benefit). One major red flag on loan apps is unavailability on Google Play Store. 50 per $100 A payday loan costs $16. The loans are quick, collateral-free, and need zero paperwork. You can borrow any amount up to your loan limit. 2 Flexible repayment between 91days to 365days. An app-based lending platform that provides quick loans ranging from N1,000 to N1 million. The maximum amount of loan is #250,000, with varying minimum loan amounts. High maximum APR of 35. Loan app; A simple way to get on top of your expenses and make your taxes quick and painless. KiaKia. CreditVille. Loan app; Moneytree loan app: can you rely on this lender . It will help you sort out your financial issues in real-time. Now, with all this my plenty of talk you may still be like, “please isn’t there a loan app in Nigeria with interest free loans?” abi there’s no non-interest loan in Nigeria. Contact Us: Customer Service Email: easemoni@blueridgemfb. The app makes it “super easy for anyone to borrow, invest and make payments” without excuses. Payday loans in California are fast, simple, and secure money loans. 6 by 566,000 users. Through its app, borrowers can apply for a convenient loan to meet needs like. Whatsapp customer number： （234）8179658371. ALAT. Check your loan balance, make payments and more. Borrow money online with Easemoni app, downlaod Easemoni to get cash loan now!🎉. When they confirm your data, you can get a loan from them within 5 minutes. 50 per $100 borrowed. 2 /5. Convenient, confidential and cost-effective, our products and services provide real options to help solve life's problems. Renmoney quick loan app. 9% in 2020, up from 72. Apply Now! The low rate you need for the need you want! Call. There are 119 loan apps approved to facilitate credit facilities safely and transparently.