Getting quick loans with low-interest rates and no collateral is no longer a hassle nowadays. With the invention of loan apps, you can now borrow money in just a few clicks from the comfort of your home. However, not all loan apps offer loans with low-interest rates. Hence, you will be learning about a few loan apps in Nigeria with low interest rates. This will serve as a guide for when you are searching for loans.
What is a loan app?
A loan application is a digital app that borrowers use to apply for instant loans. Basically, a loan app is an app where you can take out fast loans. All you need to do is just download the app on your smartphone and apply for a loan through the app. Within a short time, the lenders will grant your loan depending on the terms and conditions of the loan.
Top 5 Loan apps in Nigeria with low interest
In no particular order, here is a review of the top 5 loan apps in Nigeria with low interest rates:
1. Carbon Loan App
Recently, Carbon has become a notable digital in Nigeria. Basically, this app not only offers you access to loans, but it also gives you investment opportunities and allows you to do funds transfers, bill payments, airtime purchases, etc.
All you have to do is download the app from the Play store. Thereafter, input your Biodata, submit all the important details, and then apply for your loan.
Get a loan up to N100,000 at the best affordable rates in Nigeria
2. Fairmoney Loan App
With the FairMoney loan app, you can get instant loans in minutes, purchase airtime and pay your bills all in one platform. Also, this app is known to offer low interest rates to customers. To start, just download the app and register on it.
P2Vest is another popular loan app in Nigeria, that offers Nigerians low-interest loans. Basically, this loan platform connects borrowers to legit lenders who need returns on their capital. Also, this app has a loan platform known as P2VFB.
The P2VFB platform allows businesses to operate and manage their lending activities. You can download P2Vest on your smartphone through the Play Store or App Store. This loan platform offers loans ranging from N5,000 to N2,000,000 with a tenure of 12 months.
4. Aella Credit
Aella Credit is another reputable loan app that guarantees quick loans. Basically, this platform gives loans of up to 1M, with an interest rate of about 6% to 20%. Also, they have a loan tenure of 1 – 3 months with zero late/rollover fees. All you have to do is download the app from Playstore for Android smartphones or the App Store for iOS phones.
5. Branch Loan App
Branch is another good loan app in Nigeria. Basically, this platform offers loan amounts ranging from ₦1,000 – ₦200,000. Loans from this lending platform have no late/rollover fees, have a monthly interest rate of 3% – 21%, and a 15% – 34% annual interest rate.
Borrowing a loan is very easy these days thanks to loan apps. However, you still need information on the loan app in Nigeria with low interest rates. Above, you will find all you need to know about the best loan apps in Nigeria that offer loans with low-interest rates.