Here is a list of 20 popular loan apps in Nigeria,
1. Carbon (Formerly Paylater)
Owner: One Finance & Investment Limited
Launch Date: Launched in 2016
Types of Loans:
Personal Loans
Business Loans
Salary Advance Loans
Benefits:
Quick loan disbursement
Competitive interest rates
No collateral required for most loans
Requirements:
BVN
Valid means of identification
Bank account details
2. Branch
Owner: Branch International
Launch Date: Launched in 2017
Types of Loans:
Personal Loans
Business Loans
Benefits:
Instant approval
Low fees
Credit score improvement
Requirements:
BVN
Valid ID card
Bank account details
3. Renmoney
Owner: Renmoney MFB Limited
Launch Date: Launched in 2012
Types of Loans:
Personal Loans
Business Loans
Device Financing
Benefits:
Quick approval
Flexible repayment plans
Transparent terms
Requirements:
BVN
Valid means of identification
Bank statements
4. FairMoney
Owner: MyCredit Limited
Launch Date: Launched in 2017
Types of Loans:
Personal Loans
Business Loans
Emergency Loans
Benefits:
Affordable rates
No collateral required
Convenient repayment
Requirements:
BVN
Bank account details
Valid means of identification
5. KiaKia
Owner: KiaKia Bits Ltd
Launch Date: Launched in 2016
Types of Loans:
Personal Loans
Business Loans
Benefits:
Automated loan processing
Low-interest rates
Flexible repayment plans
Requirements:
BVN
Bank account details
Valid means of identification
6. Aella Credit
Owner: Aella 6Credit
Launch Date: Launched in 2017
Types of Loans:
Personal Loans
Business Loans
Group Loans
Benefits:
Fast disbursement
Secure transactions
High loan limits
Requirements:
BVN
Bank account details
Valid means of identification
7. QuickCheck
Owner: QuickCheck Global
Launch Date: Launched in 2016
Types of Loans:
Personal Loans
Payday Loans
Benefits:
Easy application
Fast approval
Credit score building
Requirements:
BVN
Bank account details
Valid means of identification
8. Palmcredit
Owner: Transsnet Financial Nigeria Limited
Launch Date: Launched in 2018
Types of Loans:
Personal Loans
Business Loans
Benefits:
Quick loans
Minimal paperwork
Accessible repayment options
Requirements:
BVN
Bank account details
Valid means of identification
9. Sokoloan
Owner: GreenHouse Capital
Launch Date: Launched in 2018
Types of Loans:
Personal Loans
Business Loans
Benefits:
Quick loans
Instant approval
Competitive interest rates
Requirements:
BVN
Bank account details
Valid means of identification
10. Lidya
Owner: Lidya Nigeria
Launch Date: Launched in 2016
Types of Loans:
Small Business Loans
Benefits:
Easy application
Fast approval
Tailored repayment plans
Requirements:
Business registration documents
Bank statements
Valid means of identification
11. Page Financials
Owner: Page Financials
Launch Date: Launched in 2014
Types of Loans:
Personal Loans
Investment Opportunities
Benefits:
Personalized loans
Investment options
Financial advisory services
Requirements:
BVN
Bank account details
Valid means of identification
12. QuickCredit
Owner: Mines.io
Launch Date: Launched in 2018
Types of Loans:
Personal Loans
Benefits:
Fast loans
Minimal paperwork
Quick approval
Requirements:
BVN
Bank account details
Valid means of identification
13. PayConnect
Owner: Unified Payment Services Limited
Launch Date: Launched in 2017
Types of Loans:
Personal Loans
Benefits:
Access to loans
Bill payments
Credit purchases
Requirements:
BVN
Bank account details
Valid means of identification
14. Fint
Owner: Jijitechnologies
Launch Date: Launched in 2019
Types of Loans:
Personal Loans
Business Loans
Benefits:
Loan options
Insurance products
Investment opportunities
Requirements:
BVN
Bank account details
Valid means of identification
15. CreditVille
Owner: CreditVille
Launch Date: Launched in 2013
Types of Loans:
Personal Loans
Business Loans
Benefits:
Competitive interest rates
Flexible repayment plans
Fast loan processing
Requirements:
BVN
Bank account details
Valid means of identification
16. C24 Limited
Owner: C24 Limited
Launch Date: Launched in 2012
Types of Loans:
Personal Loans
Business Loans
Benefits:
Loans for salary earners
Flexible repayment terms
Quick approval
Requirements:
BVN
Bank account details
Valid means of identification
17. SnapCredit
Owner: SnapCredit
Launch Date: Launched in 2015
Types of Loans:
Personal Loans
Benefits:
Quick loans
Convenient repayment options
Transparent terms
Requirements:
BVN
Bank account details
Valid means of identification
18. Zedvance
Owner: Zedvance Limited
Launch Date: Launched in 2018
Types of Loans:
Personal Loans
Device Financing
Educational Loans
Benefits:
Flexible loan options
Device financing
Education loans
Requirements:
BVN
Bank account details
Valid means of identification
19. Lmoney
Owner: Lmoney Nigeria
Launch Date: Launched in 2017
Types of Loans:
Personal Loans
Business Loans
Benefits:
Quick approval
Minimal documentation
Competitive rates
Requirements:
BVN
Bank account details
Valid means of identification
20. KwikMoney (Migo)
Owner: KwikMoney (Migo)
Launch Date: Launched in 2012
Types of Loans:
Personal Loans
Airtime Loans
Benefits:
Easy access to loans
Quick disbursement
Airtime loan options
Requirements:
BVN
Bank account details
Valid means of identification
What Makes Each App Stand Out:
Carbon (Formerly Paylater): Known for its user-friendly interface and quick loan disbursement.
Branch: Offers competitive interest rates and credit score monitoring.
Renmoney: Provides a range of loan options including device financing.
FairMoney: Known for its affordability and no collateral requirements.
KiaKia: Automated loan processing and low-interest rates.
Aella Credit: Offers high loan limits and fast disbursement.
QuickCheck: Easy application process and credit score building.
Palmcredit: Minimal paperwork and accessible repayment options.
Sokoloan: Instant approval and competitive interest rates.
Lidya: Specializes in small business loans with tailored repayment plans.
Page Financials: Offers investment opportunities along with personal loans.
QuickCredit: Known for fast loans and quick approval process.
PayConnect: Access to loans, bill payments, and credit purchases.
Fint: Provides a range of financial products including insurance and investments.
CreditVille: Competitive interest rates and fast loan processing.
C24 Limited: Offers loans for salary earners with flexible terms.
SnapCredit: Quick loans with transparent terms.
Zedvance: Provides flexibility with device financing and education loans.
Lmoney: Quick approval process and competitive rates.
KwikMoney (Migo): Easy access to airtime loans and quick disbursement.
Requirements to Obtain a Loan:
The general requirements for obtaining a loan from these apps typically include:
BVN (Bank Verification Number)
Valid means of identification (National ID, Voter's Card, Driver's License)
Bank account details
Proof of income (salary statements, business registration, or other relevant documents)
Some may require additional documents depending on the loan type, such as business registration for business loans or proof of employment for salary advance loans.
Users should always review the specific requirements of each app before applying for a loan, as they may vary slightly based on the app and the type of loan being applied for.
