Most Reliable Loan Apps in Nigeria with low interest
We have so many reliable fintech startup loan apps in Nigeria with high-interest rates, this article will focus on the top 4 loan apps with reasonable interest rates and also fast disbursement of loans.
Top 4 Loan Apps in Nigeria
Carbon (Paylater): Pay later is one of the starters of online loan applications without collecting collateral. They have been in operating since 2016 popularly known as Paylater now Carbon. Since then, they have grown from just an app that gives out loans. You can now invest and create a saving goal with Paylater.
Effectiveness of Paylater
As a new user with good credit scores, you can get a loan starting from 5k or more than depending on your credit scores. The more you use and repay your loan the more your loan increases.
kuda Bank: Kuda Bank is a microfinance digital bank with over 1 million users, the app is available on both iOS and Android devices. Kuda giving of loans is based on how effective you use the app by features like saving, fund transfer, and bill payments. Then you will be qualified for their Kuda overdraft.
How does Kuda overdraft works ?
With Kuda Overdraft, you get the opportunity to withdraw more than what you have in your account with zero interest if you pay back that same day and 0.3% interest daily if you want to pay in the next 30 days.
Branch loan app
Branch is another nice online loan startup company like Paylater. With over 10m+ customers, they have proven to be one of the best even during the pandemic period branch was one of the few loan companies that were granting loans despite the fact that people are not paying up. They have low-interest rates compared to others and also have good customer representatives. Branch app is available on both Android and iOS.
Migo loan unlike paylater and brach, Migo doesn’t have an app, their operation is on their webpage and ussd code, so even with your non-android phone you can still get a loan on the go and get credited in 5min once your loan is approved.
How to apply for Migo loan
To apply for Migo Loan, dial *561# and follow the instructions, or visit Migo website put your phone number linked with your bank BVN for proper verification. You can also download Quickteller app to access the logo integrated API.