instant loans with lowest interest


There are now more than a handful of loan apps in Nigeria. However as users complained, many of them provide loans at high and unsustainable interest rates. Some go as high as 5-10% per month.

If you are considering taking a loan online you definitely want to go for the ones with the lowest interest rates and favourable conditions.

GTBank Quick Credit

GTBank’s Quick Credit is one of the online loans with lowest interest rates. The Quick Credit for personal loan offers loans to individuals at 1.5% interest monthly.

Quick Credit for Small Business also offers loans at 1.5% interest per month.

Interest rate: 1.5% per month

Tenor: up to 12 months

Stanbic IBTC

Stanbic IBTC’s EZ Cash loan for small businesses offers up to N5 million without collateral.

Interest rates: 2.5% per month

Tenor: 6 – 12 months

Access Bank

Access Bank payday loan amount that varies depending on your salary.

Interest Rate: 5%

Tenor: 30 days


Renmoney offers up to N6 million in loans. without collateral.

Interest rate: 2.4% – 9.33% monthly

Tenor: 3 – 24 months


Branch offers loans of between N1,000 – N200,000 with no collateral.

Interest rate: 1.7% – 22% monthly (depending on your risk profile)

Tenor: 4 to 40 weeks


Carbon offers loans of up to N20 million to both individuals and businesses.

Interest rates: 1% – 21% per month (depending on amount, tenor and risk analysis)

Tenor: 1 – 12 months


Palmcredit, owned by Newedge Finance Ltd, offers loans of up to N100,000 to individuals.

Interest rates: minimum 4% monthly

Tenor: 14 – 180 days

Aella Credit

Aella Credit offers short term loans of up to N1 million.

Interest rates: 6 – 20%

Tenor: 1 – 3 months