If you’re in urgent need of quick cash and can’t afford the long wait times that come with traditional bank loans, Nigeria’s digital lending space has a solution. Instant loan apps are now helping millions of Nigerians access credit within minutes — with no paperwork, no collateral, and minimal requirements.
In this guide, you’ll find five of the best instant loan apps in Nigeria that disburse funds within minutes directly to your bank account. Whether you need cash for school fees, medical bills, or business needs, these apps are among the most trusted for quick turnaround times.
Table of Contents
Best Instant Loan Apps in nigeria (top 5)
- FairMoney
- Loan Amount: ₦1,500 – ₦3,000,000
- Disbursement Time: Under 5 minutes
- Monthly Interest: From 2.5%
- Repayment Term: Up to 18 months
- Branch
- Loan Amount: ₦6,000 – ₦1,000,000
- Disbursement Time: Instantly after approval
- Monthly Interest: From 2.8%
- Tenure: Up to 52 weeks
- Easemoni
- Loan Amount: ₦3,000 – ₦1,000,000
- Disbursement Time: Within minutes
- Monthly Interest: Starts from 5%
- Tenure: Up to 12 months
- CashX
- Loan Amount: ₦5,000 – ₦300,000
- Disbursement Time: Within 5 minutes
- Interest Rate: 2% – 4%
- Repayment: 30 to 90 days
- Migo
- Loan Amount: ₦500 – ₦500,000
- Disbursement Time: Instantly via USSD or online
- Interest Rate: 2% – 15%
- No app required
1. FairMoney
FairMoney is one of the fastest loan disbursement platforms in Nigeria, offering loans from ₦1,500 to ₦3,000,000 — all processed in less than 5 minutes after approval. Designed for speed and simplicity, it doesn’t require collateral or paperwork. Whether you need money for rent, medical expenses, or business capital, FairMoney has you covered.
Features:
- Completely mobile-based application
- BVN required but no collateral
- Repayment terms of 61 days to 18 months
- Low starting interest from 2.5%
Let’s say you borrow ₦100,000 at a monthly interest of 10% for 3 months. That adds up to ₦10,000 interest per month, totaling ₦30,000 over the loan duration — meaning you’ll repay ₦130,000 in full.
Read full details and how to apply
2. Branch
Branch is more than just a loan app — it’s a complete financial service app that also includes bill payments and investments. When it comes to loans, Branch disburses approved funds within minutes, with loan amounts from ₦6,000 to ₦1,000,000.
Features:
- 100% app-based, no guarantors or documents needed
- Interest based on credit behavior
- Tenure up to 52 weeks
- Flexible interest from 2.8% to 23% monthly
For example, if you take ₦50,000 for 3 months at 10% monthly interest, you’ll pay ₦5,000 in interest monthly — totaling ₦65,000 for full repayment.
Read full details and how to apply.
3. Easemoni
Easemoni is ideal for first-time borrowers who need quick loans for emergencies or personal use. Backed by a licensed microfinance bank, it offers fast credit from ₦3,000 to ₦1,000,000 and disburses money within minutes of approval.
Features:
- Monthly interest starts at 5%, varies with user history
- Repayment ranges from 30 days to 12 months
- Application requires BVN and personal info
- Available only through the Easemoni app
Let’s assume you borrow ₦10,000 for 30 days at 5% interest. Your total repayment will be ₦10,500. However, some users report interest as high as 30% for first-time loans.
Read full details and how to apply.
4. CashX
If you’re after a short-term loan app with minimal interest and very fast disbursement, CashX should be on your radar. The app offers between ₦5,000 to ₦300,000 and delivers funds to your account in just a few minutes.
Features:
- Interest rate is flat: 2% to 4% based on credit profile
- No hidden charges or rollover fees
- Requires BVN and valid phone number
- Tenure usually ranges from 30 to 90 days
Imagine borrowing ₦50,000 for 30 days at a 3% flat rate. That’s ₦1,500 in interest, so your total repayment would be ₦51,500.
Read full details and how to apply.
5. Migo
Migo is different from typical loan apps — there’s no download required. You can borrow directly via USSD code or their website. With Migo, the disbursement is almost instant once your loan is approved.
Features:
- No paperwork or app installation
- Loans range from ₦500 to ₦500,000
- Interest from 2% to 15%
- Approval based on transaction history and credit score
Say you need ₦20,000 urgently and qualify for a 5% interest rate. That’s just ₦1,000 interest, making the total repayment ₦21,000.
Read full details and how to apply.
Conclusion
Instant loan apps are a game-changer for financial access in Nigeria, especially for those who can’t afford to wait days for loan approvals. Whether you prefer app-based platforms or USSD-powered services, the five apps above offer a combination of speed, flexibility, and relatively fair interest rates.
Before applying, always:
- Check your eligibility
- Review the exact interest shown during the application
- Borrow within your means to avoid defaults
If you want more options, explore our full Loan Application Blog Section for in-depth guides and real user insights.