Best Loan App in Nigeria -A Review of Payday Loan Apps

Are you in need of emergency cash? Maybe to handle a pressing need? Well, here is my review of some of the most popular loan apps, in the hope of helping you select the best loan app in Nigeria.

I’d like to point out that many of these loan apps offer you loans in smaller sizes, and the more you borrow, the more credit score you build. So you shouldn’t expect too much on those emergencies. If you want to get a chance for higher loans, then you would have to build a good track record of borrowing and repaying the loans on time. Over time you should be able to borrow higher sums of money.

So don’t fall for their adverts that say you would be able to borrow 100K instantly. That’s simply not true advertising and won’t happen until you have built a good borrower record.

List of Best Loan Apps at a glance

  • Branch
  • Carbon
  • Palm Credit
  • Sokoloan
  • Fairmoney

My Recommended best loan app in Nigeria

My verdict for the overall best loan app in Nigeria is the Branch Loan App. This conclusion was reached after considering the parent company, Branch International, the regulating body, and the number of app installs and app reviews. Overall, this loan app got a check on every one of our metrics, leading us to make it the best loan app in Nigeria right now.

Branch Loan App

Branch is the product of Branch International, a company based in the USA, It was founded in 2015. The company has focused more on its offering in the African continent, which explains why you mainly have it in Nigeria, Kenya, and a ton of other African countries.

Branch has the best rating of any loan app when compared to the number of installs on Google play. That’s a 4.3 rating on over 10 million downloads.

The majority of customers have complained about how hard it was to repay their loans and how hard it could be to get in touch with customer support. Getting loans fast after you haven’t used the app for a while also seems to come with issues. No one has any idea of why this is so. So the main issue, in a nutshell, is that the app could have unexpected delays when it comes to how fast loans are approved and how fast your data is verified.

On average, for those looking at quick small loans, this app seems to be just perfect.


With 4.4 Rating and over 1 million downloads, Carbon is one loan app to try. The biggest issue according to customers is logging into the app, and some have even complained of having their new borrowing threshold reduced. What that means is that some people who have borrowed money and repaid on time, and who are now eligible to borrow more, wake up one day, and see that the app has reduced the amount they can borrow.

Some have also complained that the app’s processes and verifications are pretty steep, and I must say I experienced this when using the app.

On the plus, I think they deserve credit for customer support, and being able to resolve customer queries on time.

Palm Credit

Palm Credit sports 4.4 ratings on the play store with over 1 million downloads. I have personally noticed from my use and also from customer feedback that the app is pretty easy to use and the loans are not very hard to get. Customer service is also pretty top-notch.

On the minus, they seem to have one of the highest interest rates on the market, they are not available for users with iPhones, and some customers have complained about the fact that they don’t quickly get awarded a higher borrowing rate. On the technical front, I think the company needs to work on its app as many customers complain of glitches.


4.2 Google play ratings and over 1 million downloads. The company pretty much doesn’t do well on the customer support front, and for me, that’s bad. Customers have reported about how the company bombards them with messages in days leading to the repayment date of loans. It’s been reported heavily that the interest rates are too high, and the app has glitches, which caused deductions even after you have completed payment on a loan.

On the good, the app seems to have a neat design, and approving of loans is really fast.


The fifth app on this my list sports 4.0 rating on the play store and over 1 million downloads. Fairmoney comes with an instant credit system that enables them to make fast payments to customers. And for the most part, that is like the best feature I have personally noticed on any lending app. The company is selling itself as being fast with payments of loans to customers and verifying data.

The registration process is also seamless, while the app is neat and doesn’t require a lot of learning to understand the ins and outs.

On the not-so-goods of this app, many customers have not had a sort of promotion to be able to access higher amounts of loans, and contacting customer support is a hell of a job. They don’t have their contacts readily available, and to contact them, you’d need to search hard. That isn’t cool for a business in financial technologies. Some customers have also complained that the app glitches and debits them even after they have completely paid their loans.

So that’s it for me. Do you agree with my choice of Branch as the best loan app in Nigeria? Which of these loan apps have you used? Do you agree with my reviews of them or are there corrections you’d like to make? I’d love to hear from you.

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