If you are a student in Nigeria and in need of immediate financial assistance, you no longer have to worry about the stress of borrowing money from friends or family. Thanks to the advancements in technology, there are several loan apps available that allow students to obtain loans quickly and easily using just a smartphone and an internet connection. In this article, we will be discussing the best loan apps for students in Nigeria, where you can acquire instant loans for personal or commercial purposes.
- Branch Branch is a popular loan app for students in Nigeria that also operates in other countries such as Kenya, Mexico, and India. With Branch, you can easily apply for a loan and have the money deposited directly into your bank account. You can borrow loans as low as ₦1000 and as much as ₦200,000 through the Branch loan app, making it a convenient option for students in need of emergency cash.
- Aella Credit Aella Credit is another loan app in Nigeria that offers speedy loans with interest rates ranging from 6% to 20%. You can borrow loans up to 1 million with a loan duration of 1-3 months and no late/rollover penalties. The Aella Credit app is available for download on both Android (Playstore) and iOS (App Store) devices, and you can apply for a loan from anywhere at any time.
- PalmCredit PalmCredit is considered one of the best loan apps in Nigeria for students. With PalmCredit, you can borrow loans ranging from ₦2,000 to ₦100,000 directly from the app. The loan duration ranges from 91 to 180 days, with interest rates between 14% and 24%. To be eligible for a loan on PalmCredit, you need to meet their age requirement of 18 years and above.
- QuickCheck QuickCheck’s mission is to provide financial services to help people and businesses achieve their goals. As a first-time customer, you can obtain a loan of up to ₦10,000 for a period of 30 days. QuickCheck app allows you to acquire immediate loans directly into your bank account at any time of the day or night, making it a convenient option for students in need of quick cash.
- Alat Alat by Wema is another loan app that provides access to rapid loans without the need for documentation or a visit to a bank. Although it is owned and managed by Wema bank, you can borrow up to ₦2,000,000 (subject to specific restrictions and limitations) through the Alat app.
- Okash Okash is an independent loan application in Nigeria that was formerly featured in the Opay app. With Okash, you can borrow loans quickly and easily by downloading the app from the Playstore (Android) or the App Store (iOS). Fill out all the required information to utilize the app and have access to fast loans.
- Blocka Cash Blocka Cash offers simple and convenient loans for students in Nigeria. You can get a short-term loan on Blocka Cash for as little as ₦5,000 and as much as ₦50,000, depending on your payment history. However, you need to be at least 21 years old to apply and may be required to show a valid government ID.
- Lidya Lidya is one of the first loan applications in Nigeria that provides access to secured fast online loans to small and medium-sized enterprises. While it may not be specifically designed for students, it could be a viable option for students who are running their own businesses or need a higher loan amount.
In conclusion, these are some of the best loan apps for students