In 2025, Nigeria’s financial institutions continues to grow, driven by digital innovation and the growing demand for accessible credit. With inflation and economic challenges pushing many Nigerians to seek quick financial solutions, loan apps have become indispensable for addressing urgent needs like paying bills, funding businesses, or covering emergencies.
The Federal Competition and Consumer Protection Commission (FCCPC) has approved over 400 digital lending platforms by May 2025, ensuring a mix of secure and regulated options for borrowers.
However, with so many choices, selecting a trustworthy app with low interest rates and flexible terms can be daunting. This blog post highlights 7 new loan apps in Nigeria for 2025, focusing on their features, loan offerings, and why they stand out. Each app is FCCPC-approved or licensed by the Central Bank of Nigeria (CBN), ensuring reliability and transparency.
1. True Loan
Developed by KUDI PALLY TECH LIMITED, True Loan is a rising star with a 4.4-star rating and over 10,000 downloads. It emphasizes secure transactions and quick approvals, offering loans up to ₦300,000 with repayment terms of 91 to 365 days. Interest rates range from 3% to 15% monthly, depending on the borrower’s credit profile. True Loan’s focus on transparency and competitive rates makes it a reliable choice for salaried individuals and small-scale entrepreneurs.
2. Credit Direct Mobile
Credit Direct Mobile, operated by Credit Direct Limited, is tailored for salary earners and business professionals. With a 4.6-star rating and over 1,000 downloads, it offers higher loan amounts—up to ₦1,000,000—with flexible repayment periods of 3 to 12 months. Interest rates start at 2.5% monthly, and no collateral is required. Its seamless application process and high user satisfaction make it a top contender for those seeking substantial loans.
3. OxLoan Pro
OxLoan Pro, by Singularity Technology, is a newer entrant with a 3.7-star rating and over 5,000 downloads. It provides loans from ₦10,000 to ₦300,000 with reasonable interest rates (4% to 20% monthly) and repayment terms of 91 to 365 days. The app’s secure transactions and straightforward interface appeal to users seeking quick financial relief without complex requirements. While its adoption is moderate, its potential for growth is evident.
4. Morecash
Morecash, developed by BFREEDOM OUTSOURCING, targets premium users needing larger credit lines, offering loans up to ₦2,000,000. With a focus on business owners and high-income individuals, it provides flexible repayment options and interest rates starting at 3% monthly. The app’s 4.2-star rating reflects its growing popularity, though its premium focus may limit accessibility for smaller borrowers.
5. Jollof Cash
Owned by Boltbay Investments Limited, Jollof Cash is a new app designed for quick, collateral-free loans ranging from ₦5,000 to ₦500,000. Its repayment terms span 91 to 365 days, with interest rates between 3% and 18% monthly. Jollof Cash’s intuitive design and fast disbursement process make it a go-to for Nigerians needing urgent funds. Its FCCPC approval ensures compliance with regulatory standards.
6. Zelia Financing
Zelia Finance is tailored for students and SMEs, offering loans from ₦10,000 to ₦1,000,000 with interest rates as low as 1.5% monthly. It emphasizes secure transactions and fast response times. Though it has less than 3-star rating, Zelia Finance is gaining popularity for its low rates and accessibility, particularly among young borrowers.
7. Tide Cash
Tide Cash is a new app with a 4.1-star rating, offering loans up to ₦500,000 without collateral. Its repayment terms range from 91 to 365 days, with interest rates of 3% to 22% monthly. Tide Cash’s focus on quick approvals and transparent terms makes it a strong contender for Nigerians seeking flexible and accessible credit.
Tips for Choosing a Loan App
- Verify Licensing: Ensure the app is FCCPC-approved or CBN-licensed to avoid loan sharks. Check the FCCPC’s list of approved lenders for confirmation.
- Compare Interest Rates: Rates vary widely (1.5% to 30% monthly). Opt for apps with transparent and competitive rates.
- Read Reviews: Check Google Play Store ratings and user feedback to gauge reliability.
- Understand Terms: Review repayment periods and hidden fees before committing.
- Borrow Responsibly: Only take what you can repay to avoid debt traps or harassment.
Have you tried any of these apps? Share your experiences in the comments below, and let’s keep the conversation going!
