Instant 50,000 Naira Loan in Nigeria: Top 10 Available Offers (2023)

In Nigeria, loan apps have made it easy for people and businesses to get loans without collateral or a good credit score. However, many apps only offer small loans of less than ₦10,000 due to a lack of trust. Luckily, some apps provide loans of ₦50,000 and even more to eligible borrowers. In this post, we’ll explore ten such loan apps that offer 50,000 Naira loans in Nigeria.

Eligibility Criteria:

To be eligible for a ₦50,000 loan in Nigeria, most apps require borrowers to meet these criteria:

  1. Be a Nigerian citizen.
  2. Have a valid bank account.
  3. Be at least 18 years old.
  4. Have either a BVN or an ATM card.
  5. Own a smartphone.

List of 10 Loan Apps That Offer 50,000 Naira Loans:

  1. Fairmoney: FairMoney is a reliable app that offers loans of up to ₦500,000 without collateral. The repayment period can be extended for up to 6 months. You need to be a Nigerian resident with a valid bank account and a source of income to apply.
  2. Branch Loan App: Branch provides loans of up to ₦500,000 with a flexible repayment period of 15 months. No collateral is required, but there is no loan extension feature.
  3. Carbon Loan App: Carbon offers loans ranging from ₦50,000 to ₦1,000,000 with low interest rates and a repayment period of up to 6 months. No collateral or guarantor is needed.
  4. Renmoney: RenMoney offers loans of millions of Naira with a repayment period of up to 24 months. No collateral or paperwork is required, and the app caters to both individuals and businesses.
  5. Okash: Okash provides personal loans from ₦1,500 to ₦1,000,000 without collateral. The application process is fast, and the interest rates are low.
  6. PalmCredit: PalmCredit offers loans of up to ₦50,000 with a repayment period of 180 days. To be eligible, you must be a Nigerian resident between 18 to 55 years old with a valid bank account and a source of income.
  7. Irorun Loan App: Irorun offers small personal loans with a repayment period of 15 to 30 days. The app is available on both Android and iPhone.
  8. Aella Credit: Aella Credit provides loans starting from ₦50,000 with low interest rates and flexible repayment terms.
  9. KiaKia: KiaKia is a P2P platform offering loans to individuals and businesses. Borrowers can access loans through their website.
  10. Quick Checks: Quick Checks allows instant personal loans within minutes. No collateral or guarantor is required, and the loan is disbursed to your bank account quickly.


Loan apps have become a convenient option for accessing quick loans in Nigeria. Before applying for a loan on any app, carefully read and understand the terms and conditions to avoid any issues. Remember, timely repayment is essential to maintain a positive credit score.

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