Best Loan App In Nigeria For Students


Students in tertiary institutions are always in dire need of money. On many occasions, there is no way to get money. Some of them resolve to ding illegal things to make money. Others disturb their financially unstable parent which would lead to no avail. However the case may be, it is not always easy. This article discusses the fundamental apps that a student can use to earn good money. Additionally, this article covers the topic: Best Loan App in Nigeria for Students.


Carbon, formerly known as Paylater is a platform used commonly by students to obtain loans. According to various reports, it is one of the first companies to take a big deal at helping students. In 2019, Paylater was officially known as Paylater. Carbon is just like any other platform because it saves, pays bills, and make payment on your behalf when you authenticate it. The process of registration is quite tricky. You would be asked to fill in your details such as your Bank Verification Number, Address, Office Address, etc. This information is used to process your loan offer. A new update to Carbon is that they allow an initial payment of N10,000 to you.

Access Bank Payday Loan

Access Bank payday loans are Access Bank lending services that are offered to both salary and non-salary workers who have an Access Bank account. You can borrow up to 100,000 Naira and repay it with 3% interest in 30 days. This is one of the Loan App in Nigeria for Students

You can apply for this loan by calling *901*11*1# on your bank-registered phone number to determine whether you are qualified. If you qualify, the amount of loan available to you will be shown. For the Payday loan service, Access Bank does not demand collateral or a guarantor.


In our list of Best Loan App in Nigeria for Students, it would be unfair to leave out Fairmoney. Fair money is one of the top finance platforms in Nigeria. It is quite popular because of its service in the Fintech industry. With Fairmoney, you are assured of receiving your loan offer within some minutes after approval. As a student, Fairmoney wouldn’t request any paperwork or contractual agreement with you.

The Fairmoney mobile app is available on Playstore. With Fairmoney you can pay bills and they give out instant loans to their clients without hassle. Fairmoney was launched in India. It has reportedly given out more than 10,000 loans to people around the world. You can get a repayment period of up to 1 year if you have good standing with them.


Branch is another great platform for students. For students who may be struggling financially, Branch is a good Fintech to get cash. The branch has its headquarters in the United States of America. But they have branches in Nigeria and Kenya. It can be downloaded on the Google Play Store app.

The branch now supports over 15 banks in Nigeria. You can create a branch account with your phone number and BVN. However, when it comes to loans you have to meet the terms and conditions with the Branch. Your application may take a while, but your loan application will be approved.


Palmcredit formerly known as palmcredit is one of the biggest loan platforms in Nigeria. For students, this is another app that gives loans. However, the case may be it is one of the Best Loan Apps in Nigeria for Students. The loan amount ranges from the least of N3,000 to N300,000. The amazing thing about this platform is that you can repay the loan amount easily without stress. A period of 3 to 12 months is enough for you to pay back the loan.

To support the claim of their popularity among student, Palm Credit boast downloads of up to 1 million. Also, they have positive reviews of more than 25,000. You would be asked to fill in your details such as your Bank Verification Number, Address, Office Address, etc.

READ ALSO: What Is The Best Loan App In Nigeria? Find Out

Migo Loan

Migo is another loan opportunity for students. Students can make use of this platform where they can get paid easily. Popularly known as kwikcash, this platform has proven to be an app where one can get a loan easily. It has its headquarters in the United States of America. Migo provides loans to individuals, organizations, and small businesses. To register, you can input your phone number after you finish installing the application. Enter your OTP and continue the process.


Okash is a Blue Ridge Microfinance Bank fintech product. Okash was included in the Opay app as a result of a collaboration between Blue Ridge Microfinance Bank and Paycom Nigeria Limited, the app’s proprietors.

Okash was separated from the Opay app in 2020 after receiving significant anger from customers due to its lending procedures. Okash offers to offer loans ranging from 3,000 Naira to 500,000 Naira with payback terms ranging from 91 to 365 days. That would be all for now on the Best Loan App in Nigeria for Students


Which app can I borrow money from as a student?






Can I borrow money from Gtbank?

Yes. It should be stated that the loan repayment should not be half of your salary.

How can I borrow money from Opay?

Simply dial *955# to proceed with the loan on your Opay account

Which app is the easiest and fastest way to borrow money?

Fairmoney is one of the most downloaded apps in Nigeria. It boasts over 5M+ downloads.

How does the Migo loan operate?

Migo is another loan opportunity for students. Students can make use of this platform where they can get paid easily.


Above is shown the list of banks one can borrow money from. It has also discussed the repayment plan which one can use to pay back the money. In all honesty, it has highlighted elaborately the Best Loan App in Nigeria for Students in Nigeria. It is also important to note that you need to research another loan platform to widen your explanation.

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