Top 5 New Loan Apps In Nigeria 2023
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There are several new loan apps in Nigeria 2023 but which one are the best for individual and business owners when it comes to the legit new loan app you can trust anytime any day. available right now.

As the country’s credit facilities needs grows, new competitors in the online lending industry emerge.

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Top 5 New Loan Apps In Nigeria 2023

In this article, we will look into the top 5 new loan apps in Nigeria 2023, apps that give users instant loan in Nigeria and how much loan you can get on each of this loan app in Nigeria today.

The following are some, but not all, of the country’s new loan apps:


1. iMoneyPlus

iMoneyPlus is one of the best new loan app in Nigeria today, the loan platform can give an instant loan to help everyone in Nigeria who need money to grow their businesses, go shopping or any other emergencies. If you have any kind of money need, you can always go to iMoneyPlus.

To get loan from iMoneyPlus, you need to be:
1. A Nigeria Citizen
2. Between 18-65 years old
3. Regular source of income

Product Features(Loan amount, Loan tenure, Interest, Service fee, Loan Example)
1. Loans Amount: ₦8,000 to ₦200,000
2. Loan Tenure: 91 days ~ 365 days
3. APR: Minimum 12% to Maximum 50%
4. Service fee: 0%

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You can read more on iMoneyPlus Review here to get more insight about the loan platform.

2. Hcash loan App

Hcash is an intermediary loan platform in Nigeria that provides online loans to its users which can be operated through mobile app anytime and anywhere as long as users have access to the internet.

Users can get a loan of up to 1 million naira on Hcash loan app within 10 minute after application, the process is very easy and it doesn’t take much time to secure a loan on Hcash.

Hcash App Login | How to Login to Hcash App

It’s actually easy to login to your Hcash loan app
* After downloading Hcash loan app
* Click to open Hcash loan app
* Input your Username or Phone number
* Then, follow by the password you use when registering
* Then hit the enter or login button

Steps to apply a loan on Hcash:
1. Sign up
2. Fill in basic details
3. Apply for a loan
4. Wait for approval

To get loan from Hcash, you need to be:
1. A Nigeria Citizen
2. Between 18-65 years old
3. Regular source of income

3. LifeLine loan app

Lifeline is another new loan app in nigeria which offer to to every individual and the loan amount stand out from it competitors as user can apply for a cash Loan up to 300,000 naira in just a few minutes.

Lifeline made it know that getting a loan should never be hard and should be the most easiest thing anyone can do from their end. Lifeline is a safe and convenient cash loan service from whose base is in Nigeria.

Fees Related

  • Credit limit amounts: 3,000 to 300,000 naira
  • Service fee: 0.1% to 0.35% per day
  • Interest rate: Maximum APR is 20% per year
  • Repayment Period: 91 days – 365 days

Lifeline loan Example: for a cash loan with the principal amount of 20,000 naira with a 150 days loan period, the total service fee is N20,000*0.14%=N28, the total interest is N20,000*8.2%=N1640, and the total amount due would be N20,000+N28+N1640=N21668

Lifeline loan Eligible Qualification

  • 1 valid bank account
  • At least 18 years old
  • Nigerian Resident
  • 1 government-issued ID

How to Apply for Lifeline loan

Simply download the LifeLine loan app and fill in the loan application form. Then, wait for the quick loan evaluation, if approved, the loan will be deposited.

4. Fair Credit Loan App

Fair credit is another fast rising loan app in Nigeria 2023 and users can get a loan amounts range between ₦1,500 to ₦1,000,000 with repayment periods from 95 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 0% to 32%).

Fair credit is now more than just a loan app, they own a Microfinance bank that is duly licensed by the Central Bank of Nigeria. As such, all your deposits are insured with the Nigeria Deposit Insurance Corporation (NDIC).

Fair Credit Loan Eligibility:

  • Nigeria Resident.
  • 20-55 years old.
  • Source of a monthly income.

As they continued to seek a more efficient way to disburse loans to you and help you spend it, they realized that the customers need a simple way to receive and spend money. Hence, why they redesigned the app to accommodate these two key actions and more.

This is only just scratching the surface of what they are building for you. So, sign-up to be the first to know when we launch new features tailored to meet your needs. To sign-up, download fair credit app now.

5. TrueNaira loan app

TrueNaira is a new loan app that is fast rising which offer loan to individual Nigerians and users can get a loan for up to N1,000,000 as long as they have all the requirement need from the user.

TrueNaira Already have over 15,000 reviews overall from Google playstore and over 500,000 people have downloaded true naira loan app from the Google playstore, this includes those who use True Naira to get a loan and those who do not later get a loan from the app.

TrueNaira overall rating was around 4.8 star rating, this is about those people that share their experience about the app as review with what they feel about the app.

To apply for a loan on Truenaira, you just need to follow steps:

  • Download Truenaira app from Google play store
  • Create your account and apply a loan
  • Receive your loan straight into your bank account
  • Build your loan limit every time you repay a loan

Conclusion on New Loan Apps In Nigeria

If you are looking for new loan app in Nigeria that are more reliable and give you the best and peace of mind, then trying one of the above listed new loan app would be the great step you’d take to secure a loan in Nigeria today.

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