5 Instant Loan Apps in Nigeria That Send Money Within Minutes

If you need urgent cash and don’t have the time to deal with bank queues, instant loan apps in Nigeria are a quick solution. These mobile platforms allow you to borrow money within minutes, straight to your bank account, without collateral or paperwork. Whether you’re covering school fees, emergency bills, or boosting your business capital, these loan apps are designed for speed and convenience.

In this article, you’ll discover some of the most reliable instant loan apps in Nigeria that disburse funds fast and come with flexible repayment plans.

FairMoney Loan App

FairMoney is one of the fastest lending platforms in Nigeria, offering loans from ₦1,500 up to ₦3,000,000. Applications are processed in under five minutes, making it a top choice for urgent financial needs.

Features of FairMoney

• Completely mobile-based, no paperwork required
• BVN needed but no collateral
• Repayment period between 61 days and 18 months
• Interest rates starting from 2.5% monthly

For example, if you borrow ₦100,000 for three months at 10% monthly interest, you’ll repay ₦130,000 in total.

Branch Loan App

Branch is more than just a loan service. Aside from quick loans, the app also provides bill payment and investment options. Loans range from ₦6,000 to ₦1,000,000 and are disbursed instantly after approval.

Features of Branch

• 100% app-based, no guarantors or documents required
• Interest varies depending on your credit history
• Loan tenure up to 52 weeks
• Interest rates from 2.8% to 23% monthly

For example, borrowing ₦50,000 for three months at 10% monthly interest means you’ll repay ₦65,000 in total.

Easemoni Loan App

Easemoni is designed for people who need short-term loans quickly, especially first-time borrowers. Backed by a licensed microfinance bank, Easemoni offers loans between ₦3,000 and ₦1,000,000 within minutes of approval.

Features of Easemoni

• Monthly interest starts at 5%
• Repayment period ranges from 30 days to 12 months
• Requires BVN and personal details for application
• Available only via the Easemoni app

If you borrow ₦10,000 for 30 days at 5% interest, your repayment will be ₦10,500.

CashX Loan App

CashX is a short-term loan provider that disburses funds within minutes. With amounts ranging from ₦5,000 to ₦300,000, it is well-suited for borrowers looking for smaller, fast loans.

Features of CashX

• Loan disbursement in less than five minutes
• Interest rates between 2% and 4%
• No rollover fees or hidden charges
• Tenure from 30 to 90 days

For instance, a ₦50,000 loan for 30 days at a 3% interest rate means you’ll repay ₦51,500.

Migo Loan Service

Unlike most loan apps, Migo does not require an app download. You can access loans through USSD codes or their website, and disbursements happen almost instantly once approved.

Features of Migo

• No collateral or paperwork
• Borrow between ₦500 and ₦500,000
• Interest rates from 2% to 15%
• Approval based on credit score and transaction history

For example, borrowing ₦20,000 at 5% interest will require you to repay ₦21,000.

Instant loan apps have transformed access to credit in Nigeria by making funds available within minutes. Platforms like FairMoney, Branch, Easemoni, CashX, and Migo offer fast disbursement, flexible repayment options, and user-friendly processes. Before taking a loan, always check the interest rate displayed in the app, confirm your eligibility, and borrow only what you can comfortably repay. This way, you’ll avoid unnecessary debt and maintain a healthy credit profile.

ALSO READ: CashX Loan App Review – Features, Interest Rates, Eligibility and Alternatives