In this artilce you will see steps on How to Find Low-Interest Online Loans in Nigeria. It is now much easier to get a loan online here in Nigeria. A lot of mobile apps, as well as digital banks, are now giving very fast loans without even asking you for paperwork or collateral.
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If you happen to need money for your school fees or other emergencies, we will, through this blog post, help you to find the best online loans in Nigeria that have very low interest rates in 2025.
- Carbon (formerly Paylater)
If you are talking about reliability, Carbon is probably one of Nigeria’s most reliable loans platform. On this app, you can easily borrow between N2,500 to N1,000,000.
They have very low interest rates of around 1.75% monthly. You can also repay loans on Carbon within 2 to 12 months. If you pay your loan on time, Carbon will reward you with even much lower interest rates.
- FairMoney
FairMoney is more than a loan app; it is a digital company that can give you instant loans without asking for collateral. On FairMoney, you can borrow from N1,500 to a whopping N3,000,000.
Their interest rates start from 2.5% to 30% every month, although it is going to depend on, firstly, how much you are borrowing and then how long you are expected to keep the loan. They have a very good repayment process, as it can last up to 18 months.
- Branch
You can take a loan of up to N200,000 on the Branch loan app. Their interest rate is around 14% to 28% every month.
The app usually makes use of your phone data to see if you are qualified to take the loan. Once you are deemed eligible, you can get your money disbursed into your bank account within just minutes.
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- Aella Credit
Aella Credit is another credible loan app out there with very good interest rates, which stand between 2% to 20% every month.
You can borrow from N2,000 to a massive N1,500,000 from Aella. This loan can be repaid within a period of 2 to 12 months, and you don’t need to provide any collateral before getting a loan from Aella Credit.
- Palmcredit
With Palmcredit, you are sure of very fast loans of around N10,000 to N300,000. Their own interest rates start around 4% per month. They have a very good repayment rate; you can repay over a period of about 91 to 365 days. Their process is quick and fast, and you can do virtually everything through their app. - Okash (by Opay)
On Okash, which is owned by Opay, one of the biggest fintech companies in Nigeria, you can take loans of up to N3,000 to N1,000,000.
Their interest rate is about 3% to 15% every month. Your Okash is linked to your Opay account, which makes it very much easy for you to repay them.
- QuickCheck
You can get up to N500,000 worth of loan on QuickCheck. Their interest starts at around 2% every month.
To ascertain if you are qualified for their loan, the app makes use of technology to easily decide your qualification. You can repay your loan within a 91 days to 12 months period.
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We know some conditions might make it necessary for you to start looking for loans. These apps we’ve just mentioned in this blog post will help you to get loans that come with very low interest rates.
They’re stress-free, especially if you keep to their terms and conditions. We hope you borrow responsibly so that you can keep maintaining your credit score.