Top 13 New Loan Apps in Nigeria 2025

Sometimes, no matter how careful we are with our finances, life throws unexpected expenses and emergencies our way. Whether it’s a surprise medical bill, urgent repairs, or late-month bills, a quick loan app can be a lifesaver.

There are a lot of new loan apps in Nigeria that are recently launched—some of them claim to offer short-term or instant loans to individuals and businesses without the need for traditional banking procedures.

In this article, we will list out the new loan apps and some of the best loan apps in Nigeria 2025, that are licensed by regulatory bodies such as the Central Bank of Nigeria (CBN) and the Federal Competition and Consumer Protection Commission (FCCPC).

However, for the new loan apps, there’s a high probability that some apps operate without proper licenses, posing potential risks to borrowers, particularly in areas like data privacy and loan recovery practices.

But let’s look at the top new loan apps in Nigeria, their features, benefits, and what you need to know before choosing the right one for your financial needs.

Let get started…

Discover the top new loan apps in Nigeria and their features in this article.

Top New Loan Apps in Nigeria 2025

Here are some of the new loan apps in Nigeria, along with their features and Google Play Store details:

1. Kash Loan Ultra

Kash Loan Ultra is one of the new loan apps in Nigeria, by Credpay Fintech Limited—a rising name in the country’s fintech space. Since its launch, Kash Loan Ultra has quickly gained the trust of users, boasting an impressive 4.5-star rating on the Google Play Store and over 10,000 downloads, this shows its growing popularity and reliability among borrowers.

Weighing just 6.4 MB, the app is lightweight and easy to install on virtually any Android device, making it accessible to users with limited storage or older phones. This app come with user-friendly interface and solid set of features. Kash Loan Ultra claim Borrowers can enjoy quick loan approvals, low-interest rates, without collateral—a major advantage for students, small business owners, and everyday Nigerians in need of fast financial relief.

Key details:

Company: Credpay Fintech Limited
Rating: 4.5 ★
Size: 6.4 MB
Downloads: 10K+

Key Features:

Claim to give quick loan, with low-interest rates, and no collateral required.

You can download the Kash Loan Ultra loan app here

2. Jollof Cash

Jollof Cash is another new loan app in Nigeria owned by Boltbay Investments Limited. The app currently holds a 2.9-star rating with 1,000+ downloads.

Key details:

Developer: Boltbay Investments Limited
Rating: 2.9 ★
Size: 10 MB
Downloads: 1K+

Features:

Instant cash disbursement, easy repayment plans.

3. True Loan:

True Loan is Developed by KUDI PALLY TECH LIMITED, and has emerged as one of the most trusted new loan apps in Nigeria. It boasts a strong 4.4-star rating and has been downloaded over 10,000 times.

Key details:

Developer: KUDI PALLY TECH LIMITED
Rating: 4.4 ★
Size: 11 MB
Downloads: 10K+

Features:

Secure transactions, quick approval, and competitive interest rates.

4. Credit Direct Mobile

Credit Direct Mobile, by Credit Direct Limited, is another notable new loan app among mobile lenders. It holds an impressive 4.6-star rating with over 1,000 downloads.

Key details:

Developer: Credit Direct Limited
Rating: 4.6 ★
Size: 23 MB
Downloads: 1K+

Features:

Offers higher loan amounts and flexible repayment terms, best for salary earners and business professionals.

5. OxLoan Pro

OxLoan Pro, by Singularity Technology, is another new loan app in Nigeria in 2025 with a moderate adoption, with a 3.7-star rating and 5,000+ downloads.

Key details:

Developer: Singularity Technology
Rating: 3.7 ★
Size: 11 MB
Downloads: 5K+

Features:

Secure transactions, reasonable interest rates.

6. Morecash

Morecash loan app, by BFREEDOM OUTSOURCING, is a newly launched loan app for premium users who need access to larger credit lines.

Developer: BFREEDOM OUTSOURCING

Features:

Offers VIP loans, personalized customer service, and higher borrowing limits.

7. Tide Cash

Tide Cash, by Anezi Martin Chibuike, is another new loan app that is rapidly gaining attention with a 4.5-star rating and over 10,000 downloads.

Developer: Anezi Martin Chibuike
Rating: 4.5 ★
Size: 6.0 MB
Downloads: 10K+

Features:

Quick loans, user-friendly interface.

8. Crednow

Crednow is a lightweight and easy-to-use lending app introduced by Credility Fin Services. It has over 100 downloads, signaling early adoption.

Developer: Credility Fin Services
Size: 20 MB
Downloads: 100+

Features:

Hassle-free loan application, reliable support.

9. AppCredit

Developed by Newducks Nigeria Limited, AppCredit is still in its early stages with 100+ downloads and a 1.4-star rating.

Developer: Newducks Nigeria Limited
Rating: 1.4 ★
Size: 17 MB
Downloads: 100+

Features:

Instant approval, but mixed reviews on reliability.

10. VTMoney

VTMoney, by FXKUDI INC, blends lending with digital money transfers. It currently has 100+ downloads.

Developer: FXKUDI INC
Size: 16 MB
Downloads: 100+

Features:

Combines personal loans and fund transfer capabilities, best for users looking for an all-in-one financial app.

11. RUSHCREDIT

RushCredit, a product of Highcredit Nigeria Limited, has a 1.8-star rating and over 1,000 downloads.

Developer: Highcredit Nigeria Limited
Rating: 1.8 ★
Size: 6.2 MB
Downloads: 1K+

Features:

Quick disbursement, but users complain about high interest rates.

12. Hermoney

Hermoney, from Hermoney Finance Limited, has had a quiet start with 100+ downloads.

Developer: Hermoney Finance Limited
Size: 5.4 MB
Downloads: 100+

Features:

Affordable interest rates, easy application process.

13. Nmoney

Nmoney is another one of the new loan apps in Nigeria, developed by FINNEW FINTECH LIMITED. With 500+ downloads, it is gradually gaining momentum.

Developer: FINNEW FINTECH LIMITED
Size: 16 MB
Downloads: 500+

Features:

Secure and reliable lending services.

How to download the new loan app

To download the above-listed new loan app, simply go to the Google Play Store if you’re using an Android device or the Apple App Store for iPhone users. In the search bar, type “the name of the new loan app you wish to download” and look for the official app. Once you find it, tap on the Install button to begin the download. As an alternative, you can also download it in the app’s official website—if available—for a direct and secure downloading.

How to Choose the Best New Loan App in Nigeria

Choosing the best new loan app in Nigeria requires careful consideration of several key factors to ensure you’re selecting a reliable, safe, and cost-effective option. First and foremost, checking ratings and reviews is essential. User feedback on platforms like the Google Play Store or the Apple App Store can offer valuable insights into an app’s credibility, customer service, and overall user experience. Pay attention to common complaints such as hidden charges, harassment, or difficulty in repayment — these are red flags that should not be ignored.

Another critical factor is to compare interest rates and repayment terms. Different loan apps offer varying interest rates, processing fees, and repayment durations. Some may appear attractive initially but could end up being costly in the long run due to high daily or monthly interest charges. It’s advisable to choose apps with low interest rates, minimal processing fees, and flexible repayment options that suit your income cycle.

Transparency is another major criterion. A trustworthy loan app should clearly disclose all associated costs, including interest rates, penalties for late payments, and other hidden charges. Avoid apps that do not provide upfront information or have unclear loan agreements, as this can lead to unexpected financial stress.

Lastly, verify that the loan provider is registered with the appropriate regulatory bodies in Nigeria, such as the Central Bank of Nigeria (CBN) or licensed by the Federal Competition and Consumer Protection Commission (FCCPC). Registration with these agencies indicates a level of compliance with financial regulations, which offers users some protection against fraudulent or exploitative practices.

By paying attention to these details, you can make a smarter, safer choice when selecting a new loan app in Nigeria, avoiding potential pitfalls and financial headaches.

Risks of Using New Loan Apps in Nigeria

Using new loan apps in Nigeria can be convenient, but it also comes with several risks that borrowers should be aware of before signing up. One of the most common issues is high interest rates. Many new or unregulated loan apps charge exorbitant interest, sometimes as high as 30%–60% monthly, especially for short-term loans. These rates can trap users in a cycle of debt, making it difficult to repay on time and leading to additional penalties.

Another serious concern is data privacy and security. Some loan apps request access to personal information such as contacts, messages, and location, which they may misuse. In extreme cases, borrowers have reported their private details being shared publicly or with third parties as a form of intimidation or blackmail. The lack of proper data protection measures in many of these apps poses a serious threat to users’ privacy.

Additionally, aggressive loan recovery tactics are a growing problem, particularly with lenders that operate outside regulatory oversight. Borrowers have reported instances of harassment, defamation, and threats when they miss repayment deadlines. These tactics are not only unethical but can also cause emotional distress and reputational damage. Unfortunately, because many of these new apps are not licensed by Nigerian financial authorities, they often operate without accountability.

To protect yourself, it’s crucial to research thoroughly before using any loan app. Stick to platforms that are transparent, have clear terms, and are regulated by the appropriate financial bodies like the Central Bank of Nigeria (CBN) or the FCCPC.

Best Loan App in Nigeria you should consider in 2025

1. ALAT by Wema

Best for: Salary earners & quick cash top-ups

ALAT is a full digital banking platform by Wema Bank. While it’s not a dedicated loan app, it offers a “Quick Loan” feature that allows users to access short-term funds with competitive interest rates. It’s reliable for salary top-ups or temporary financial needs.

2. Branch

Best for: Beginners & quick small loans

Branch is a widely-used loan app known for its simple interface and fast approval process. You can borrow between ₦1,000 to ₦200,000 with flexible repayment periods. It’s perfect for first-time users or small, urgent expenses.

3. FairMoney

Best for: Larger amounts & user-friendly experience

FairMoney offers up to ₦1,000,000 with repayment plans that suit your budget. It’s known for responsible lending practices and ease of use. If you’re facing an emergency or planning a major expense, FairMoney is a solid choice.

4. PalmCredit

Best for: Flexible credit lines

PalmCredit works like a virtual credit card. Once approved, you get a credit limit you can access anytime. Great for people who need ongoing access to funds without repeated applications.

5. Carbon (formerly Paylater)

Best for: Speed & transparency

Carbon is a pioneer in the Nigerian digital lending space. It provides short-term loans with a smooth application process. Great for users who need immediate cash with no delay.

6. Kuda

Best for: Kuda users who need overdrafts

While not a traditional loan app, Kuda Bank offers instant overdrafts to active users with good financial behavior. It’s a great option for Kuda account holders in need of short-term funds.

7. Aella Credit

Best for: Quick approval and simple applications

Aella Credit focuses on speed and simplicity. The approval process is fast, and funds are disbursed in minutes. Be aware that its interest rates may be slightly higher, so compare before borrowing.

8. Wema Loans

Best for: Structured loans with fixed terms

Wema Bank also offers personal loans outside its ALAT app. These loans may require more documentation but provide structured repayment with fixed interest rates — perfect for larger expenses.

9. Renmoney

Best for: Bigger loan amounts

Renmoney is a licensed microfinance bank that offers larger loan amounts compared to other digital lenders. It’s ideal for business owners or individuals looking to fund significant expenses. However, expect a more traditional (and thorough) application process.

FAQs on New Loan Apps in Nigeria

1. What are the best new loan apps in Nigeria?

Some of the new loan apps in Nigeria include Kash Loan Ultra, True Loan, Credit Direct Mobile, and Tide Cash. These apps have good ratings and offer competitive interest rates.

2. Do new loan apps in Nigeria require BVN?

Most loan apps require a Bank Verification Number (BVN) for verification and security purposes. However, some apps offer small loans without BVN.

3. Are these loan apps safe to use?

Yes, but you should only use apps that are registered and have positive reviews. Always check their privacy policy to ensure your data is protected.

4. Can I get a loan without collateral in Nigeria?

Yes, all the loan apps listed here offer loans without collateral, making them accessible to more people.

5. How fast do these loan apps disburse funds?

Most apps approve and disburse funds within minutes to hours, depending on the verification process.

Conclusion

These new loan apps in Nigeria can make a huge difference when you need urgent cash. With so many options available, always compare interest rates, read reviews, and ensure the app is trustworthy. Whether you need money for personal or business use, these apps offer a quick and hassle-free way to access funds.

Top 13 New Loan Apps in Nigeria 2025