Best Loan Apps for iPhone in Nigeria 2024

Hey there, Nigerian iPhone users!

Nigeria! Looking for the best loan apps for your iPhone in 2023? You’re in luck! There are a ton of great options out there, and we’ve done the legwork for you to narrow it down to the best of the best.

In this blog post, we’ll list and review the top loan apps for iPhone in Nigeria, based on factors such as interest rates, loan amounts, repayment terms, and ease of use. We’ll also give you some tips on how to choose the right loan app for your needs and how to get the most out of it.

So whether you’re looking for a quick loan to cover an unexpected expense or a larger loan to finance a new business venture, we’ve got you covered. Read on to learn more about the best loan apps for iPhone in Nigeria in 2023!

Table of Contents

Best Loan Apps for iPhone in Nigeria 2023

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Here’s our list of the best loan apps for iPhone in Nigeria 2023:

  1. Renmoney
  2. Carbon
  3. Pompeii
  4. Aella Credit
  5. Kuda
  6. Borome
  7. P2Vest
  8. Irorun Loan App
  9. KiaKia Loan App
  10. Credpal

Let’s take a closer look at each of these apps:

Renmoney

Renmoney is a loan app that offers quick and easy loans to individuals and businesses. Renmoney loans are available to anyone with a BVN and a valid bank account. You can borrow up to N6 million with no collateral required. Renmoney loans have a repayment period of 3 to 60 months, and interest rates start at 2.76% per month.

Carbon

Carbon is a good option for people who need a larger loan. It offers loans up to N1 million, with repayment terms ranging from 3 to 12 months. To get a loan from Carbon, you’ll need to download the app and create an account. Once your account is verified, you can apply for a loan in minutes. Carbon will then use your phone data to determine your creditworthiness and loan offer. If you’re approved, you’ll receive your loan within 24 hours.

Pompeii

Pompeii is a newer loan app in Nigeria, but it has quickly become one of the most popular. Pompeii offers loans ranging from N5,000 to N500,000 with interest rates starting at 1.5%. Pompeii’s loan app is very easy to use and users can get their loans approved within minutes.

Aella Credit

Aella Credit is a good option for people who need a large loan with a long repayment term. It offers loans up to N5 million, with repayment terms ranging from 3 to 24 months. To get a loan from Aella Credit, you’ll need to download the app and create an account. Once your account is verified, you can apply for a loan in minutes. Aella Credit will then use your phone data to determine your creditworthiness and loan offer. If you’re approved, you’ll receive your loan within 24 hours.

Kuda

Kuda is a digital bank that also offers loans to its customers. Kuda offers loans ranging from N1,000 to N1 million with interest rates starting at 5%. Kuda’s loan app is very easy to use and users can get their loans approved within minutes.

Borome

Borome is a loan app that offers loans to students and young professionals. Borome offers loans ranging from N5,000 to N500,000 with interest rates starting at 3%. Borome’s loan app is easy to use and users can get their loans approved within minutes.

P2Vest

P2Vest is a peer-to-peer lending platform that allows users to borrow and lend money directly to each other. P2Vest offers loans ranging from N10,000 to N5 million with interest rates starting at 5%. P2Vest’s loan app is easy to use and users can get their loans approved within a few days.

Irorun Loan App

Irorun Loan App is a loan app that offers loans to micro, small, and medium-sized enterprises (MSMEs). Irorun Loan App offers loans ranging from N10,000 to N5 million with interest rates starting at 9%. Irorun Loan App’s loan app is easy to use and users can get their loans approved within a few days.

KiaKia Loan App

KiaKia Loan App is a loan app that offers quick and easy loans to Nigerians. KiaKia Loan App offers loans ranging from N1,000 to N100,000 with interest rates starting at 5%. KiaKia Loan App’s loan app is very easy to use and users can get their loans approved within minutes.

Branch

Branch is one of the most popular loan apps in Nigeria, and for good reason. It’s quick and easy to use, and offers loans up to N500,000. To get a loan from Branch, you’ll need to download the app and create an account. Once your account is verified, you can apply for a loan in minutes. Branch will then use your phone data to determine your creditworthiness and loan offer. If you’re approved, you’ll receive your loan within 24 hours.

FairMoney

FairMoney is another popular loan app in Nigeria. It offers loans up to N1 million, with repayment terms ranging from 3 to 12 months. To get a loan from FairMoney, you’ll need to download the app and create an account. Once your account is verified, you can apply for a loan in minutes. FairMoney will then use your phone data to determine your creditworthiness and loan offer. If you’re approved, you’ll receive your loan within 24 hours.

Palmcredit

Palmcredit is a great option for people who need a small loan quickly. It offers loans up to N300,000, with repayment terms ranging from 1 to 6 months. To get a loan from Palmcredit, you’ll need to download the app and create an account. Once your account is verified, you can apply for a loan in minutes. Palmcredit will then use your phone data to determine your creditworthiness and loan offer. If you’re approved, you’ll receive your loan within 24 hours.

Okash

Okash is a good option for people who need a quick loan with a short repayment term. It offers loans up to N500,000, with repayment terms ranging from 15 to 90 days. To get a loan from Okash, you’ll need to download the app and create an account. Once your account is verified, you can apply for a loan in minutes. Okash will then use your phone data to determine your creditworthiness and loan offer. If you’re approved, you’ll receive your loan within 24 hours.

QuickCheck

QuickCheck is a good option for people who need a quick loan with a short repayment term. It offers loans up to N100,000, with repayment terms ranging from 15 to 90 days. To get a loan from QuickCheck, you’ll need to download the app and create an account. Once your account is verified, you can apply for a loan in minutes. QuickCheck will then use your phone data to determine your creditworthiness and loan offer. If you’re approved, you’ll receive your loan within 24 hours.

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Umba

Umba is a loan app that offers quick and easy loans to individuals. Umba loans are available to anyone with a BVN and a valid bank account. You can borrow up to N200,000 with no collateral required. Umba loans have a repayment period of 3 to 6 months, and interest rates start at 15% per annum.

ALAT

ALAT is Nigeria’s first fully digital bank, and it also offers a loan app. ALAT loans are available to anyone with a BVN and a valid bank account. You can borrow up to N500,000 with no collateral required. ALAT loans have a repayment period of 3 to 12 months, and interest rates start at 11% per annum.

List of top loan apps in Nigeria

Loan Apps for iphone

Here are the top 10 loan apps for iPhone in Nigeria in 2023:

  1. Carbon
  2. Branch
  3. FairMoney
  4. Palmcredit
  5. QuickCheck
  6. Okash
  7. Aella Credit
  8. Umba
  9. Renmoney
  10. Kuda

Here are 20 more loan apps for iPhone in Nigeria in 2023:

  1. Borome
  2. P2Vest
  3. Irorun Loan App
  4. KiaKia Loan App
  5. Credpal
  6. Zedvance
  7. Migo
  8. Paylater
  9. Sokoloan
  10. EasyCredit
  11. CashAdvance
  12. C24 Loan
  13. KashKash
  14. LoanPro
  15. Creditville
  16. OneFi Africa
  17. mCash
  18. LendMe
  19. Page Financials
  20. Quick Credit

These apps offer a variety of loan amounts, interest rates, and repayment terms. Some apps offer loans as small as N1,000, while others offer loans as large as N500,000. Interest rates can range from 3% to 30%, and repayment terms can range from 30 days to 12 months.

Can loan app work on iPhone?

Yes, loan apps can work on iPhone.

In fact, there are many loan apps that are specifically designed for iPhone users. These apps are typically easy to use and offer a variety of features, such as instant loan approval, flexible repayment terms, and competitive interest rates.

Here are a few of the most popular loan apps for iPhone:

  • CASHe
  • Umba
  • Carbon
  • Fairmoney
  • P2Vest
  • Aella Credit
  • Branch Loan App
  • PalmPay Loan App
  • Opay (Okash) Loan App
  • Palmcredit
  • QuickCheck

To use a loan app on iPhone, you will typically need to create an account and provide some basic information, such as your name, address, date of birth, and income. You may also need to provide a copy of your government-issued ID and proof of income.

Once your account has been approved, you can start applying for loans. The loan application process is usually very quick and easy. Most loan apps will provide you with an instant decision on your loan request.

If your loan is approved, the funds will be deposited into your bank account within a few minutes or hours. You can then use the loan funds to pay for whatever you need, such as medical bills, tuition, or home repairs.

What loan app can I download on iPhone in Nigeria?

There are a number of loan apps available for iPhone users in Nigeria. Here are a few of the most popular:

  • Carbon is a mobile banking and loan app that offers instant loans of up to ₦1 million. To apply for a loan, you simply need to create an account and provide your basic information. Carbon’s loans have interest rates of 5%-30% and repayment terms of 2-6 months.
  • Branch is another popular loan app in Nigeria. Branch offers loans of up to ₦500,000 with interest rates of 15%-30% and repayment terms of 1-6 months. To apply for a loan, you need to create an account and provide your basic information, as well as your social media accounts. Branch uses your social media data to assess your creditworthiness.
  • FairMoney is a loan app that offers loans of up to ₦500,000 with interest rates of 10%-28% and repayment terms of 1-6 months. To apply for a loan, you need to create an account and provide your basic information, as well as your bank account details. FairMoney uses your bank account data to assess your creditworthiness.
  • PalmCredit is a loan app that offers loans of up to ₦200,000 with interest rates of 15%-30% and repayment terms of 1-6 months. To apply for a loan, you need to create an account and provide your basic information, as well as your bank account details. PalmCredit uses your bank account data to assess your creditworthiness.
  • Aella Credit is a loan app that offers loans of up to ₦1 million with interest rates of 5%-30% and repayment terms of 3-6 months. To apply for a loan, you need to create an account and provide your basic information, as well as your bank account details. Aella Credit uses your bank account data to assess your creditworthiness.

Is FairMoney loan app available on iOS?

The short answer is no. FairMoney is currently only available on Android devices.

There are a few reasons for this. First, the FairMoney app is still under development, and the team is focused on making it the best possible experience for Android users. Second, the iOS development process is more complex and time-consuming than the Android development process.

However, the FairMoney team is working on developing an iOS app, and they hope to have it available in the Apple Store soon.

In the meantime, if you have an iPhone or iPad, you can still access FairMoney services through their website. Simply go to fairmoney.io and create an account. You can then log in to your account and apply for a loan or manage your existing loans.

How can I get a loan on my iPhone in Nigeria?

It’s easier than ever to get a loan in Nigeria, thanks to the many loan apps available on the App Store. To get a loan on your iPhone, you’ll need to download and install a loan app, create an account, and provide your basic information, such as your name, email address, and phone number. Some loan apps may also require you to provide your Bank Verification Number (BVN).

Once you’ve created an account and provided your information, you’ll be able to select the loan amount and repayment terms that you want. Most loan apps offer loans ranging from ₦1,500 to ₦1,000,000, with repayment terms ranging from 1 month to 12 months.

Once you’ve selected the loan amount and repayment terms that you want, the loan app will review your application and give you a decision. If your application is approved, you’ll receive the loan funds in your bank account within minutes.

Can I use Palmcredit on iPhone?

Yes, you can use Palmcredit on iPhone. The Palmcredit app is available on the App Store. To download it, simply open the App Store and search for “Palmcredit.” Once you’ve downloaded and installed the app, you can create an account and start using Palmcredit to apply for loans, make payments, and manage your finances.

How to borrow money from PalmPay on your iPhone

PalmPay is a mobile money platform that offers a variety of financial services, including loans. To borrow money from PalmPay on your iPhone, you’ll need to download the PalmPay app and create an account. Once you’re logged in, follow these steps:

  1. Go to the Finance tab.
  2. Tap on Flexi Cash.
  3. Tap on Borrow Now.
  4. Select the amount of money you want to borrow and the repayment period.
  5. Review the loan terms and tap on Confirm.

If you’re a new user, you’ll need to provide some additional information, such as your name, address, and phone number. PalmPay will then review your application and let you know if you’re approved. Once you’re approved, the loan funds will be deposited into your PalmPay wallet immediately.

What app can I download to borrow money instantly in Nigeria?

Here are some of the best apps you can download to borrow money instantly in Nigeria:

  • Branch: Branch is a popular loan app that offers loans from ₦2,000 to ₦500,000. You can apply for a loan in minutes and receive the funds in your bank account within 24 hours. Branch does not require any collateral or documentation.
  • FairMoney: FairMoney is another popular loan app that offers loans from ₦1,500 to ₦500,000. FairMoney is known for its fast and easy loan application process. You can apply for a loan in minutes and receive the funds in your bank account within minutes.
  • Palmcredit: Palmcredit is a virtual credit card that allows you to access loans of up to ₦100,000. Palmcredit does not require any collateral or documentation. You can apply for a loan in minutes and receive the funds in your Palmcredit account within minutes.
  • Carbon: Carbon is a mobile banking app that also offers loans. You can borrow loans from ₦5,000 to ₦1 million on Carbon. Carbon does not require any collateral or documentation. You can apply for a loan in minutes and receive the funds in your Carbon account within minutes.
  • Okash: Okash is a loan app that offers loans from ₦5,000 to ₦1 million. Okash is known for its fast and easy loan application process. You can apply for a loan in minutes and receive the funds in your bank account within minutes.
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Is Branch app available for iOS?

Yes, the Branch app is available for iOS devices. You can download it from the App Store.

How to download the Branch app on iOS

  1. Open the App Store on your iPhone or iPad.
  2. Search for “Branch”.
  3. Tap the “Get” button next to the Branch app.
  4. Enter your Apple ID password to confirm the download.
  5. Once the app has downloaded, tap the “Open” button to start using it.

What can you do with the Branch app on iOS?

The Branch app allows you to get instant paycheck advances with no physical documentation. You can also use the app to track your spending and budget your money.

What can you do with the Branch app on iOS?

The Branch app allows you to get instant paycheck advances with no physical documentation. You can also use the app to track your spending and budget your money.

To get a paycheck advance from Branch

  1. Open the Branch app and tap the “Get Advance” button.
  2. Enter the amount of money you need and the date you want to be repaid.
  3. The app will review your request and let you know if you’ve been approved.
  4. If you’re approved, you’ll receive the money in your bank account within minutes.

To track your spending and budget your money

  1. Open the Branch app and tap the “My Money” tab.
  2. You’ll see a breakdown of your spending by category.
  3. You can also create budgets for different categories of spending.

Is the Branch app safe to use?

Yes, the Branch app is safe to use. It is licensed and regulated by the appropriate authorities in the countries where it operates. Branch also uses industry-standard security measures to protect your data.

Can loan apps blacklist your BVN?

Short answer: No.

Only the Central Bank of Nigeria (CBN) can blacklist your BVN. Loan apps do not have the authority to do so.

However, loan apps can report you to the Credit Bureau Association of Nigeria (CR бюро), which can negatively impact your credit score. If you have a low credit score, it can be more difficult to get approved for loans and other financial products in the future.

So, while loan apps can’t blacklist your BVN, they can make it harder for you to borrow money in the future if you don’t repay your loans on time.

What is a BVN?

A BVN, or Bank Verification Number, is a unique 11-digit number that is assigned to each bank customer in Nigeria. It is used to verify your identity and protect your finances from fraud.

What is the Credit Bureau?

The Credit Bureau is a private company that collects and maintains credit information on individuals and businesses in Nigeria. This information is used by lenders to assess your creditworthiness when you apply for a loan.

How can loan apps affect my credit score?

If you default on a loan from a loan app, the app may report you to the Credit Bureau. This will have a negative impact on your credit score, and it may make it more difficult for you to get a loan from other lenders in the future.

What should I do if a loan app is threatening to blacklist my BVN?

If a loan app is threatening to blacklist your BVN, you should first try to resolve the issue with the app directly. If you are unable to resolve the issue, you can contact the CBN or the Credit Bureau for assistance.

Can I borrow money from Opay?

Answer: Yes, you can borrow money from Opay. Opay offers Merchant Loans to merchants who use the OPay app or POS to perform transactions. The loan amounts range from N2,500 to N5,000,000, with a loan term of 91 to 356 days. The interest rate is 3% for short-term loans and up to 15% for long-term loans.

To apply for a Merchant Loan, you need to:

  1. Download the OPay app and create an account if you don’t already have one.
  2. Update the app to the latest version.
  3. Click on “Merchant Loan” on the homepage.
  4. Review and agree to the terms of service.
  5. Enter your desired loan amount and term.
  6. Submit your application.

Your loan application will be reviewed and you will receive a decision within 24 hours. If your loan is approved, the funds will be deposited into your OPay wallet immediately.

To be eligible for a Merchant Loan, you must:

  • Be a registered merchant on OPay.
  • Have a good credit history.
  • Be actively using the OPay app or POS to perform transactions.

How to increase your loan limit:

You can increase your loan limit by actively using the OPay app or POS to perform transactions like withdrawals, transfers, and bill payments. The more active you are, the higher your loan limit will be.

Here are some tips for getting a Merchant Loan from Opay:

  • Make sure you have a good credit history.
  • Be actively using the OPay app or POS to perform transactions.
  • Provide accurate information on your loan application.
  • Be prepared to submit any supporting documentation that may be required.

Is it safe to borrow money from Opay?

Yes, it is safe to borrow money from Opay. Opay is a licensed and regulated financial institution. They use the latest security technologies to protect your data and your money.

Can FairMoney borrow me 500k?

Yes, FairMoney can borrow you 500k. In fact, they can lend you up to 1 million naira. FairMoney is a digital bank and instant loan app that provides collateral-free personal loans in Nigeria. They offer a variety of loan terms and interest rates, so you can find a loan that works for your needs.

To apply for a FairMoney loan, you’ll need to download the FairMoney app and create an account. Once you’ve created an account, you’ll be able to see your eligible loan amount and interest rate. You can then select your desired loan amount and repayment term.

FairMoney will then review your application and make a decision within minutes. If your loan is approved, you’ll receive your funds directly into your FairMoney account within 24 hours.

What happens if I don’t pay FairMoney?

You’re probably wondering what happens if you don’t pay FairMoney. Well, I’m here to tell you.

First of all, it’s important to note that FairMoney is a reputable lender. They’re not going to come after you with a baseball bat if you miss a payment. But there are still some consequences you should be aware of.

Late fees

If you’re late on a FairMoney payment, you’ll be charged a late fee. The amount of the fee will vary depending on how late you are and the size of your loan. But it’s generally around 10% of your monthly payment.

Suspension of your account

If you’re more than 30 days late on a FairMoney payment, your account may be suspended. This means you won’t be able to take out any new loans until you repay your outstanding debt

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Report to national credit bureaus

FairMoney is required by law to report to national credit bureaus, such as CRC and First Central. If you default on your loan, it will be reported to your credit report. This will damage your credit score and make it more difficult and expensive to borrow money in the future.

Collection action

If you still haven’t repaid your loan after 90 days, FairMoney may send your account to collections. A collection agency is a company that specializes in collecting debts. They will use a variety of methods to get you to repay your loan, including phone calls, letters, and even legal action.

So, what should you do if you can’t afford to make a FairMoney payment?

The best thing to do is to contact FairMoney as soon as possible. They may be able to work with you to create a repayment plan that fits your budget. It’s also important to remember that FairMoney is a human company. They understand that things happen, and they’re willing to work with borrowers who are facing financial hardship.

Is Renmoney on the App Store?

Yes, Renmoney is on the App Store. You can download it for free on your iPhone or iPad.

The Renmoney app is a convenient way to get a loan without having to go to a bank. You can borrow up to ₦6 million and repay in 3-24 months. The app also offers competitive interest rates and flexible repayment options.

To get a loan on the Renmoney app, simply download the app, create an account, and enter your personal and financial information. The app will then review your application and give you a decision within minutes. If you’re approved, the money will be deposited into your bank account within 24 hours.

What can you do with the Renmoney app?

With the Renmoney app, you can:

  • Get a quick loan in as little as 5 minutes
  • Save money with competitive interest rates
  • Invest your money in mutual funds and other products
  • Manage your finances all in one place

Is the Renmoney app safe?

Yes, the Renmoney app is safe to use. It is regulated by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC). The app also uses the latest security features to protect your data.

How do I download the Renmoney app?

To download the Renmoney app, simply go to the App Store and search for “Renmoney MFB”. Once you have found the app, tap the “Get” button to download it.

Is Newcredit on iOS?

You’re probably wondering if Newcredit is available on iOS, and the answer is a resounding yes! In fact, the Newcredit app for iOS has been available since July 2023, and it’s a great way to get quick and easy loans on your iPhone or iPad.

To download the Newcredit app for iOS, simply head to the App Store and search for “Newcredit.” Once you’ve found the app, tap on the “Get” button to download it to your device.

Once the app is installed, you’ll need to create an account using your phone number and other personal information. Once your account is created, you can start applying for loans immediately.

The Newcredit app is quick and easy to use. To apply for a loan, simply enter the amount of money you need and the repayment period you prefer. The app will then review your application and give you a decision within minutes.

If you’re approved for a loan, the money will be deposited into your bank account within 24 hours. You can then repay your loan using the app or through your bank account.

Does Kuda give loans?

Yes, Kuda gives loans. They offer two types of loans:

  • Overdrafts: Overdrafts are short-term loans that you can take anytime as long as you use your Kuda account regularly. They have a daily interest rate of 0.3%.
  • Personal loans: Personal loans are one-off payments that are made into your Kuda account and repaid in fixed monthly payments. Kuda offers personal loans of up to ₦200,000.

To apply for a Kuda loan, you will need to have a Kuda account and be at least 18 years old. You will also need to provide your Bank Verification Number (BVN) and a valid ID.

To apply for an overdraft, simply open the Kuda app and tap on the “Borrow” tab. You can then select the amount you want to borrow and tap on “Request overdraft.” Kuda will review your request and let you know if you have been approved within minutes.

To apply for a personal loan, open the Kuda app and tap on the “Borrow” tab. Then, tap on “Apply for loan.” You will need to provide some basic information about yourself and your finances. Kuda will then review your application and let you know if you have been approved within 24 hours.

If you are approved for a loan, the money will be deposited into your Kuda account immediately. You can then use the money for any purpose you need.

Kudo Overdrafts

Kuda does not offer traditional loans, but it does offer overdrafts. Overdrafts are short-term loans that you can take out from your Kuda account if you need a little extra cash. To be eligible for an overdraft, you must have a Kuda account and use it regularly. Kuda will automatically assess your eligibility for an overdraft and offer you one if you qualify.

How Kudo overdrafts work

To take out a Kudo overdraft, simply go to the Borrow section of your Kuda app and enter the amount you want to borrow. Kuda will then review your request and approve it if you are eligible. You can then use the overdraft funds to pay for anything you need.

Interest rates and repayment terms

Kudo overdrafts have a daily interest rate of 0.3%. You must repay your overdraft within 30 days. If you do not repay your overdraft in full by the due date, you will be charged a late fee.

Benefits of Kudo overdrafts

One of the biggest benefits of Kudo overdrafts is that they are very easy to get. There is no paperwork required and you do not need a guarantor. Another benefit is that Kudo overdrafts are very flexible. You can use the funds to pay for anything you need, and you can repay the overdraft at any time.

Drawbacks of Kudo overdrafts

The biggest drawback of Kudo overdrafts is the high interest rate. At 0.3% per day, the interest rate on a Kudo overdraft can quickly add up. Another drawback is that you must repay your overdraft within 30 days. This can be tight if you are not expecting to have the money available by the due date.

Conclusion

I hope this blog post has helped you learn more about the best loan apps for iPhone in Nigeria in 2023. Whether you’re looking for a quick and easy loan to cover an unexpected expense or a larger loan to consolidate your debt, there’s an app out there that’s right for you.

I know that choosing the right loan app can be a daunting task, so I’ve done my best to provide you with all the information you need to make an informed decision. I’ve also included links to each app’s website so that you can learn more about their specific features and requirements.

If you’ve found this blog post helpful, please consider sharing it with your friends and family. You can also support me by following me on social media or subscribing to my newsletter. I’m always working on new content, and I’d love to have you along for the ride.

P.S. If you have any questions about loan apps in Nigeria, please feel free to leave a comment below. I’m happy to help!

Richard okechukwu Chinedu

FinTech enthusiast with a passion for making financial technology accessible and understandable. I break down complex concepts into actionable insights to empower readers to navigate the ever-evolving world of FinTech.

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