Fast cash loan apps in Nigeria

Once upon a time, getting a loan in Nigeria meant walking into a bank with a pile of paperwork, hunting for guarantors, and waiting days sometimes weeks for approval. For many people, it felt like chasing a shadow.

But then came the rise of fintech lending platforms, digital companies that decided to change the story. With just a smartphone, a BVN, and a few taps, Nigerians could now access fast cash loans without collateral.

This shift has given individuals and businesses a new kind of freedom: money when they need it most. Let’s journey through some of the most popular loan apps and see how they’ve rewritten the lending playbook.

Quick Loans Without Collateral In Nigeria

• Here is a look at the top peer-to-peer lending platforms in Nigeria.
• The most popular loan lending platforms compete with various interest rates.

Amazingly, Fin-tech companies are disrupting the lending industry with offers like quick, easy, and cheap loans with no collateral.

A distinguishing factor between fintech and the traditional banks is in the loans offered by Traditional banks come with high-interest rates, journey-of-no-return paperwork or requirements as well as provision of guarantors among others. This is where these fintech companies, otherwise known as lending platforms provide loans in simple and effective ways.

Read also: USSD codes for loans

Fast Cash Loan Apps in Nigeria

1. Paylater (carbon)

Carbon isn’t just a loan app; it’s a digital bank. With it, you can apply for loans anytime, 24/7, and receive funds instantly in your Carbon account.

• Requirements: BVN, mobile app
• Platform: Mobile App
• Interest rate: Flexible, improves with repayment history
• Loan tenure: Varies
• Repayment channels: Direct debit
• Extras: Earn up to 15.5% p.a. on investments, send money, pay bills, airtime recharge, and enjoy a Carbon debit card for better control of your finances.

Carbon rewards trust. The more you repay on time, the higher the loan amounts and the lower the interest rates you unlock.

2. Renmoney

Renmoney is designed for individuals who need more. Customers can access loans of up to ₦6,000,000 without collateral or guarantors.

• Requirements: BVN, bank statement, valid ID, employment letter, proof of steady income (22–59 years old)
• Platform: Internet
• Interest rate: 4% – 5% monthly
• Loan tenure: 3 to 12 months
• Repayment channels: Quickteller, cheque, POS, cash, online transfers

How it works: Apply online → Verify details → Receive funds within 24 hours.

Renmoney is best for borrowers who want higher amounts, longer repayment windows, and quick approval.

3. Aella Credit

Aella Credit focuses on employees who need quick access to cash. It’s available in Nigeria, Ghana, and the Philippines.

• Requirements: BVN
• Platform: Mobile App only
• Interest rate: 4% – 29% monthly
• Loan tenure: 1 – 2 months
• Repayment channels: Direct debit

Loan amounts range from ₦1,500 to ₦700,000. It’s short-term, simple, and perfect for workers who need emergency funds.

4. Migo (formerly Kwikmoney)

Not everyone has internet access — that’s where Migo shines. You can get loans via USSD codes or through its online platform.

• Requirements: BVN
• Platform: USSD, Mobile App, Internet
• Interest rate: 15% monthly
• Loan tenure: 1 month
• Repayment channels: Direct debit

How to apply:

• Dial *561# (MTN, 9mobile, Glo) or 554561# (Airtel) → Select “Request Loan” → Enter bank account → Register debit card for repayment.

It’s loans for everyone, even without a smartphone.

5. Rosabon Finance Quick Loan

Rosabon finance is one of the fastest and easiest ways to access a personal loan in Nigeria without collateral.

They offer an innovative lifestyle product for individuals who are looking to access quick cash for emergencies; be it medical or any other form of unforeseen expenses. They eliminate unnecessary paperwork, long approval time, giving you the opportunity to access as much as ₦1.5 Million within 24 Hours without any Collateral or Guarantor(s).

This innovative, easy-to-access product is transparent and flexible, comes with friendly interest rates and a flexible repayment structure of up to 6 months.

Gain quick and easy access to funds with RQL

How to apply for loan

•   Be in a paid employment
•   Be between 21 and 58 years
•   Have a current account
•   Have a pension account or tax ID
•   Have a valid Proof of Identification

Things to note

• Requirements: Employment letter, salary account, pension account or tax ID, Valid ID, Utility bill.
• Platform: Internet
• Interest rate: 4 – 6%
• Loan tenure: 3 to 12 months
• Top up: No
• Repayment channels: Cheque, Direct debit

6. Zedvance

Zedvance caters to salary earners, offering competitive interest rates.

• Requirements: Employment letter, salary account, official email, valid ID, utility bill
• Platform: Internet
• Interest rate: 4% – 4.5% monthly
• Loan tenure: 3 – 12 months
• Repayment channels: Cheque, direct debit

How it works: Register online or via MoneyPal app → Apply → Answer a few questions → Receive funds in minutes.

Borrowers can also access top-ups after repayment begins.

7. Page Financials

Page Financials is all about speed. You can get up to ₦5 million in less than 3 hours.

• Requirements: Employment letter, salary account, valid ID, utility bill
• Platform: Internet
• Interest rate: 15% monthly (0.5% daily)
• Loan tenure: 3 – 12 months
• Repayment channels: Cheque, direct debit

Clear terms, no hidden charges, and funds disbursed in record time.

8. FINT Loan

FINT helps match lenders (individuals looking to lend) with creditworthy borrowers for a competitive return and at an attractive interest rate.

The quick loan platform offers interest rates based on risk scores – using a numerical expression based on a level analysis of a person’s information.

FINT connects lenders and borrowers directly. It’s a marketplace where individuals fund each other.

• Requirements: Employment letter, salary account, valid ID
• Platform: Internet
• Interest rate: 3% – 5% monthly (based on risk score)
• Loan tenure: 3 – 12 months
• Repayment channels: Cheque, direct debit
• Charges: One-time verification fee (₦3,000) + closing fee (8%) + transfer fee (1.8% + ₦100)

Borrowers get fair rates depending on their creditworthiness, while lenders earn from their capital.

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Conclusion

Nigeria’s loan landscape has shifted. From Carbon’s all-in-one app to Renmoney’s large-ticket loans, from Migo’s USSD accessibility to FINT’s peer-to-peer model, there’s now an option for everyone.

But one rule remains: borrow wisely. While fintech makes loans faster and easier, interest rates are often higher than banks. Always compare platforms, understand repayment terms, and borrow only what you can repay.

With the right choice, these fast cash loan apps can be lifesavers — helping you handle emergencies, grow businesses, or simply stay afloat when cash runs short.