New Loan App Giving ₦10,000 to First-Time Borrowers — See Top 13 New Legit Loan Apps

Nigerians are witnessing a wave of new loan apps that promise quick access to instant cash without collateral. Some of these platforms even offer ₦10,000 free credit to first-time borrowers. With sudden bills, school fees, and emergencies always around the corner, these digital lenders have become a major relief for millions of Nigerians who need money urgently.

If you’ve ever been in a tight financial situation and needed cash within minutes, these loan apps can be a lifesaver. But before using any of them, it’s important to know which apps are legitimate, secure, and licensed by the Central Bank of Nigeria (CBN) or the Federal Competition and Consumer Protection Commission (FCCPC).

Here’s a detailed list of the top new loan apps in Nigeria for now, their features, and what to consider before choosing the right one for your financial needs.

1. Kash Loan Ultra — Instant ₦10,000 Loan for New Users

Developer: Credpay Fintech Limited
Rating: 4.5 ★ | Downloads: 10K+ | Size: 6.4MB

Kash Loan Ultra is one of the most trusted new loan apps in Nigeria. It offers quick loan approvals, low-interest rates, and no collateral requirements. Many first-time users reportedly receive ₦10,000 to ₦50,000 instantly after verification. The app is easy to use, lightweight, and ideal for students, small business owners, and salary earners.

Features:

• Fast loan approval and instant disbursement

• No paperwork or guarantor required

• Simple and user-friendly interface

• Flexible repayment periods

2. Jollof Cash

Developer: Boltbay Investments Limited
Rating: 2.9 ★ | Downloads: 1K+ | Size: 10MB

Jollof Cash provides instant loans with easy repayment options. Although new, it’s gaining popularity for its fast processing time and straightforward sign-up process.

Features:

• Instant cash transfer

• Simple repayment system

• Fast registration and verification

3. True Loan

Developer: KUDI PALLY TECH LIMITED
Rating: 4.4 ★ | Downloads: 10K+ | Size: 11MB

True Loan is one of the fastest-growing lending platforms in Nigeria. It has earned users’ trust through secure transactions and competitive interest rates.

Features:

• Safe digital lending platform

• Quick approval within minutes

• Competitive interest rates

4. Credit Direct Mobile

Developer: Credit Direct Limited
Rating: 4.6 ★ | Downloads: 1K+ | Size: 23MB

Credit Direct Mobile comes from a reputable financial institution. It offers higher loan amounts and structured repayment plans, suitable for salary earners and small business owners who need larger sums.

Features:

• High loan limits

• CBN-regulated financial provider

• Flexible repayment schedule

5. OxLoan Pro

Developer: Singularity Technology
Rating: 3.7 ★ | Downloads: 5K+ | Size: 11MB

OxLoan Pro provides fast personal loans with reasonable interest rates. It is designed for users who value safety and simplicity in borrowing.

Features:

• Moderate loan rates

• Simple verification process

• Secure transactions

6. Morecash

Developer: BFREEDOM OUTSOURCING

Morecash is aimed at premium borrowers who require larger credit lines and a VIP loan experience. It offers dedicated support and fast verification.

Features:

• Premium access to higher loan amounts

• Personalized customer service

• Quick processing time

7. Tide Cash

Developer: Anezi Martin Chibuike
Rating: 4.5 ★ | Downloads: 10K+ | Size: 6MB

Tide Cash is becoming one of Nigeria’s most downloaded new loan apps. It stands out for its quick approval rate and low data usage.

Features:

• Instant loan approval

• User-friendly interface

• Low data consumption

8. CredNow

Developer: Credility Fin Services
Downloads: 100+ | Size: 20MB

CredNow is an easy-to-use loan app designed for beginners. It provides small loans with minimal requirements and reliable customer support.

Features:

• No collateral

• Fast verification

• Simple repayment system

9. AppCredit

Developer: Newducks Nigeria Limited
Rating: 1.4 ★ | Downloads: 100+ | Size: 17MB

AppCredit allows instant approval, though users have shared mixed reviews. It’s still in development but provides quick access to small loans.

Features:

• Quick approval

• Instant disbursement

• Early-stage platform

10. VTMoney

Developer: FXKUDI INC
Downloads: 100+ | Size: 16MB

VTMoney combines personal lending with digital money transfer. It’s suitable for users who prefer an all-in-one financial app.

Features:

• Dual loan and transfer function

• Secure transactions

• Ideal for business users

11. RushCredit

Developer: Highcredit Nigeria Limited
Rating: 1.8 ★ | Downloads: 1K+ | Size: 6.2MB

RushCredit offers fast loans but has faced complaints about high interest rates. It’s best for users who need very short-term credit.

Features:

• Instant approval

• High interest rates

• Short repayment duration

12. HerMoney

Developer: HerMoney Finance Limited
Downloads: 100+ | Size: 5.4MB

HerMoney is designed for women entrepreneurs and small business owners. It provides affordable loans and a quick application process.

Features:

• Simple registration

• Low-interest options

• Ideal for women-led businesses

13. NMoney

Developer: FINNEW FINTECH LIMITED
Downloads: 500+ | Size: 16MB

NMoney provides secure and reliable loans for both personal and business use. It is gaining recognition for its safe lending practices.

Features:

• Secure transactions

• Moderate loan limits

• Transparent terms

How to Download Any New Loan App

You can download any of these apps from the Google Play Store or Apple App Store. Search for the app name, confirm the developer’s name, and tap “Install.” Always make sure the app is from a verified source before entering sensitive information like your BVN or bank details.

How to Choose the Best New Loan App in Nigeria

Before borrowing, check the app’s Play Store rating and user reviews. Compare interest rates, repayment duration, and fees. Avoid apps with hidden charges or poor customer service.

Always confirm that the lender is registered with the CBN or FCCPC. Licensed apps provide more security for your money and personal information.

Risks of Using New Loan Apps

While new loan apps are convenient, they come with risks. Some charge very high interest rates, up to 40–60% monthly, especially for short-term loans. Others misuse borrowers’ personal data, including contacts and photos.

Some unregulated lenders have been known to use harassment and blackmail during loan recovery. Borrowers should therefore only use apps that are transparent, registered, and have clear privacy policies.

Best Legit Loan Apps in Nigeria

If you prefer tried and trusted loan platforms, here are the top-performing apps to consider this year:

Frequently Asked Questions

Which new loan app gives ₦10,000 instantly?
Kash Loan Ultra and True Loan are among the few that offer ₦10,000 to ₦20,000 to first-time users without collateral.

Do loan apps require BVN?
Yes, most apps require BVN verification. However, some offer trial loans without BVN for smaller amounts.

Can I borrow without collateral?
Yes. All the loan apps listed above provide collateral-free loans.

How long does it take to get approval?
Most apps approve and disburse funds within minutes to one hour.

These new loan apps in Nigeria are transforming how Nigerians access quick funds. They provide a fast, digital, and stress-free way to borrow money without visiting a bank. However, borrowers must be cautious, compare interest rates, and choose apps regulated by the Central Bank of Nigeria or the FCCPC.

If used wisely, these platforms can serve as reliable financial tools for both personal and business needs.

ALSO READ: Best Loan Apps for Instant ₦10,000 in Nigeria Without Collateral