Searching for the best loan app in Nigeria for Students? We have published the list of the best student loan apps in Nigeria. All these loan apps give instant loans without collateral.
Below is the list of the best loan app for students with higher amounts, low-interest rates, and long repayment terms and we guarantee that there are no hidden charges.
Best Loan Apps for Students in Nigeria
For Nigerian students looking for loans, FairMoney is one of the best loan apps for students. Since there are no requirements for obtaining the loans, it is quite well-liked among students.
With interest rates ranging from 10% to 30%, Fairmoney provides loans up to N500,000. Application is only accepted through the app, and payback durations are between one and eighteen months.
Additionally, the app provides a credit rating system that enables users with better credit scores to acquire loans with greater maximum amounts. Therefore, the amount of money you can borrow depends on how much you borrow and how much you repay without defaulting on the loans.
Renmoney offers loans with interest rates starting at 4.5% and amounts ranging from N6,000 to N6 million. The application process is quite simple because no collateral is needed, and the repayment durations, which range from three to twenty-four months, are also flexible. Renmoney also provides insurance services to safeguard borrowers from unexpected occurrences.
Okash is another popular loan app in Nigeria that provides loans for students without a guarantor, paperwork, or collateral. You can get loans in only a few minutes after downloading the app and signing up.
Okash loans provide monthly interest rates that range from 9% to 30% and various repayment durations. It also provides relatively large amounts and loans with comparatively long terms.
4. Irorun loan app
If you are a student looking for a small loan, then you can apply for one using the Irorun app. The app provides fast loans up to N50,000 with no documentation required.
The Irorun loan app is a very flexible alternative for students because of the extremely cheap interest rate and the loan tenure range of 2 to 6 months. Simply download the app, create an account, enter your information, and submit an application to get the loan.
5. QuickCheck loans
Quickcheck offers loans of up to ₦500,000 with interest rates ranging from two percent to thirty percent and repayment terms of up to 12 months. Quickcheck is among the best loan apps for students in Nigeria.
You may simply get QuickCheck loans by installing the app from Google play store or app store. After downloading the app, create an account, and apply for the loan. No guarantor or collateral is necessary, as is the case with others.
Branch is also one of the best student loan apps in Nigeria. Branch offers huge loan amounts with low interest rates. The loan amount ranges from N1,000 to N500,000 making it very ideal for students with low or high demand.
The repayment terms for each loan amount range from one to twelve months, with an interest rate starting from fifteen percent. To access loans on Branch, no collateral or documentation whatsoever is required, just like the other student loan apps on this list.