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Quick Loan Apps in Nigeria – Their Pro and Cons


The advancement in technology has made almost everything possible and this is not limited to acquiring loans from financial institutions without necessarily being physically present at the bank. Although, depending on what you intend doing with the fund, you can only have access to small amount of loans.

However, with that being said, these apps have been saving so many Nigerians from undue embarrassment and some emergency situations.

1. Pay Later  (Now Carbon): Paylater is one of the earliest app to have graced the industry, giving out loans to users upon registration and fulfilment of certain conditions which include providing correct personal and bank details, including BVN.

Paylater is a simple platform that provides short-term loans to help cover unexpected expenses or urgent cash needs. You can apply for a Paylater loan 24 hours a day, 7 days a week with a quick loan application that lets you know your status within minutes, and credits your account immediately. It’s fast, secure and reliable. Currently available in Nigeria and Ghana.

Paylater (Carbon) is not only a loan servicing platform, it also serves as a mobile wallet platform providing gateways to so many bill payments including PHCN, Cable TV, Internet etc. They most likely give out loans upon successful registration but may never grant further loans if a user default, doesn’t really matter for how long.

Aside loan, Carbon looks a very good platform for payment which include transferring money to different bank users at a very low rate


Nigeria understands that you can need cash at any time. Whether it’s Medical bills, School fees, payday advance or unexpected cash problems, QuickCheck has got your back when it comes to getting small loans in Nigeria.

3. Branch:

Branch, up there with Paylater is one of the earliest loan app in Nigeria and have serviced loan for a great number of users subject to attaining their requirements. They normally start with as low as N7,000 for starters and it takes a while to upgrade

Branch makes it easy for you to access credit anytime, anywhere. Complete our application in seconds and receive your loan straight to your account. It’s fast, convenient and reliable. Available in Kenya, Tanzania and Nigeria.

4. Palm Credit:

Palmcredit is one of the newest loan apps which offers loans of up to ₦100,000 within minutes on your mobile phone. Their requirement is not out of this world but the downside is, unlike other apps, they charge daily fee of up to N150 to defaulters.

The list goes on and on but you can easily get the apps on respective Mobile OS Market including Google Play store and ios store

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