How to get instant online loan


You may be a small or large-scale business owner, a farmer or a civil servant and you are looking for firms that give out loans either for business, education or other purposes. In this article, I will be showing how to get an instant loan online. I will list out the reliable Institutions you can get a loan from, the requirements and the processes involved.

Asides from commercial banks, there are other financial institutions where you can get a loan online with or without collateral. Some have very high-interest rates while some have low-interest rates. There is a growing number of digital service financial institutions that can provide you with quick loans, some of these institutions give out instant loans online within 24hrs and some in less than five minutes. However you should be careful with the kind of platforms you apply for loans, I will recommend that you check each mobile app ratings and reviews on your play store or apple store because some loan apps can be fraudulent, before giving out loans there will ask you to bind your credit card by requesting for your card details and pin, some might end up withdrawing all your money while some will charge a fee of just 50 naira.

Before getting a loan on any app, it is also pertinent to take note of all their policies and interest rates, some institutions’ interest rates are quite high and you might end up paying up to 3 or 4 times the money you borrowed if you exceed the fixed repayment date.

Steps to get an instant loan online

  • Search for Instant loan apps in Nigeria on google or on play store
  • Download a trusted app to your device
  • Register on the app with your details, phone number, email etc. When you log in to the app you can start your application, most apps will request your BVN, address, full name, nin, place of birth, state of origin, guarantor etc. according to their company policies.
  • They will review your application and if you qualify for a loan you will be credited instantly.

List of Recommended financial institutions


Branch Loan app is another reliable loan platform their loans are one of the quickest in Nigeria. If you qualify for a loan you can get credited by branch within 5 minutes their loans start from ₦1,000 to ₦200,000 and their loan duration is 4 to 40 weeks. . Branch interest rate starts from 15% up to 34%.

To get a loan on branch app you don’t need any collateral or income-generating assets to get a loan, you don’t even need any guarantor. Their Interest rates depend on the amount and your repayment history.

Branch has made it easy for Nigerians to access loans from anywhere in the country with their mobile app without physical engagement or collateral.

Fair money

FairMoney is a registered financial institution in Nigeria that gives out instant loans for urgent needs like hospital bills, school fees etc. When applying for a loan they will request your  Bank Verification Number (BVN) and your will need to bind your debit card, don’t freak out fair money is a safe and popular platform, your details are safe with them. Fair money gives out loans starting from 2,000 naira up to 150,000 naira their interest rate is from 5% and can grow to about 28% depending on how much you want to borrow. Their loan duration is from 4 – 26 weeks. Note that If pay your loan before the fixed repayment date it will be at a lesser interest rate.


Okash loan is a loan app in Nigeria from the OPay group Founded by the internet giants Opera Mini, OPay is a mobile-based platform that offers essential services. With this platform, you can get a loan in Nigeria at any time within a few minutes. On Okash you can get loans up to N50,000 which is the maximum, and the minimum loan amount is  N3000.

Below are the requirements for Okash loan application;

  1. The applicant should be a resident of Nigeria
  2. The age bracket of the applicant has to be in the range of 20-55 years.
  3. You must have a source of monthly income.
  4. You must have a Valid ID Card which you will submit during your application
  5. You have to provide your Bank verification (BVN) Number


Just like OPay, palmplay is a mobile-based banking platform where you can do transfers and pay all your bills with ease there are also food delivery services and a whole lot of other services, as a constant palm play user you will be qualified for the Palmplay OK card, where you can be given a loan from 10,000 up to 150,000 depending on your repayment history and transaction rate on the app. Palmplay will give you up to 2 weeks to repay your loan with 0% interest when you exceed the due date daily interests start adding up.

Before granting you access to the OK card palm play will require you to install a plugin on your device which will limit your phone when your loan is overdue.


The above-listed institutions are not the only platforms that give out loans but they are the few recommended ones you are safe to deal with, these are the most popular and most reliable platforms. You should note that some of these platforms are fraudulent so you have to be careful.