How To Get A Loan Within One Minutes In Nigeria

Getting a loan within one minutes in Nigeria today has become easy due to the advent of AI technology. You can now get quick loans in less than a minute without actually following through the traditional method of loan acquisition where you have to fill in different paper works before you’re granted any loan offer.

Today you can get a quick loan in less than a minute from just your mobile gadget. It is fast and easy. If you’re here looking for a way to get a quick loan in less than a minute then you’re in the right place.

In this article, I’ll be revealing various ways to get a loan in less than a minute as long as you’re having a smartphone, bank account, bank verification number, and internet connection.

So without wasting much time, let us dive into how to get a loan in a minute here in Nigeria without actually using any of your property as collateral.

List Of Companies That Offer Loans In A Minute In Nigeria

Below is the list of companies that offer loans within a minute in Nigeria

  • Paylater (Carbon)
  • Fair Money
  • Branch

Also Read: LAPO Microfinance Bank

There are so many lending apps out there that offer loans within a minute but we can not list them here because we don’t trust their services due to several complaints from customers regarding how their money is not safe or their account go compromised due to the service of these lenders they used.

The ones we mentioned above are rated 5 stars because of the quality service they have been rendering over the years and we at are recommending these apps.


Paylater Loan App (Carbon)

Paylater is one of the most popular money lending apps that offer quick loans within 1 minute without asking you to use any of your assets as collateral or fill some paper works before you can get loans

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Paylater is currently known as carbon after the name was changed by the owners for a reason well known to them. The app

Pros Of Paylater App

Paylater has so many reasons to be considered as the best money lending app that offers quick loans without collateral.

Below are some of the reasons why Paylater is regarded as an amazing mobile money lending app in Nigeria.

  • Faster Approval Process
  • No need for a guarantor
  • No stressful paperwork and documentation before offering a loan
  • No need of using your valuable assets as collateral.
Loan Within One Minutes In Nigeria


Cons Of Paylater App

For every good thing, there is always a bad part of it. But the case is different with the paylater mobile app. They tried to perfect everything about their app or service to the extent that you can not find any fault with it.

The only setback with the paylater mobile app that I have observed so far is the aspect of the low lending amount of N10,000 Naira.

If you’re getting a loan from them most especially if it is your first time, they usually lend our money as low as N10,000 Naira as a risk management strategy to avoid giving out loans to people who might end up becoming bad debtors.

Most lending companies offer a huge amount of money when you have a great credit score and a good inflow and outflow of monetary transactions taking place on their account.

If you’re seeking a huge amount as a first-time user of paylater, kindly know that you cannot get that from paylater. But as time goes on, they will eventually increase your loan offer when you prove to pay back your loan on or before the agreed date.

You can read everything about paylater loan and how to apply for a loan on paylater mobile application using your smartphone

Also Read:
Zenka Loan App


Fair Money Loan

Fair Money is another money lending app in Nigeria that offers quick loans without collateral within a minute after the application and approval of the loan you requested.

Fair Money, money lending app that allows you to borrow as low as N1500 – 1 million Naira within 1 minute of approval. The apps work with artificial intelligence and machine learning tech to evaluate their customers before lending out money.

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This technology uses the bank verification number to know the credit score of the applicant before giving out the loan. If a borrower passes the algorithm of the mobile app, it will automatically lend out the money.

Loan Within One Minutes In Nigeria
Fair Money Loan


How Does Fair Money Loan Works?

The app allows users to borrow money without using any of their assets as collateral. You can use the app to get a loan when you’re financially handicapped.

All you need to do is to download the loan app and get your first loan in just simple steps.

How Much Can One Borrow From Fair Money

Fair Money allows you to borrow a loan of N1,500 to 1,000,000 depending on your credit score. If you have a higher credit score, you can borrow up to 1 million within 1 minute of approval.

Fair Money gives you the grace to pay back your loan with an even longer duration of 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%).

What Is The Interest Rate Of Fair Money?

Fair money has an interest rate that ranges from 2.5% to  30% depending on how much loan you’re taking and the duration of the loan.

For example, if you’re taking a loan of  100,000 Naira intending to pay it back in 3 months, the interest rate for that loan will be 30% which is 30,000 Naira.

The app allows you to pay back the 100,000 Naira loan installed mentally for three months. From the 30% calculation, it means that you’ll be paying N43,333.

This simply means that you’re paying 130,000 Naira and 120% APR.

The Pros Of Fair Money

  • The loan is approved almost instantly
  • Great repayment plan
  • No collateral, guarantor, or paperwork.

The Cons Of Fair Money

Currently, we have not seen any reason why you shouldn’t use the fair money mobile app to get your quick loan as of the time of writing this article.

How To Download Fair Money Loan App

The Fair Money Loan App is available to only android users only. You can download the Fair Money Loan App from Google Playstore

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 Also Read: Migo Loan App

How To Apply For Fair Money Loan

For you to apply for Fair Money Loan, you need to have an android phone with the mobile app installed on it

Follow the step below to apply for a Fair Money loan.


Visit Google Play Store and download the Fair Money mobile app for free.


Go ahead and install the fair money mobile application

Step 3

Open the Fair Money mobile app and click on GET STARTED to proceed with the registration process.

Step 4

Enter a valid phone number (Preferable the one linked to your bank verification number)

Step 5

Fair money will send a verification code to your phone number, enter the code

Step 6

Create a security pin number (Ensure it is something you can remember easily)

Step 7 (Final Step)
Fill the form with your real details if you want to get a loan.
Note: Fair money will use the information you provided to evaluate you before giving you a loan. Make sure you don’t falsify any information or else your loan request will be automatically declined.

Branch Mobile App Loan

Branch Mobile App is another money lending app that has been in business for a very long time and they are still paying to date.

In other to secure a loan from a branch, you need to create a free account using your phone number or Facebook account, or bank verification number (BVN). 

This information will allow the branch to access your credit score for proper evaluation in other to know how much they can lend you.

Loan Within One Minutes In Nigeria
Branch Mobile App Loan


How Does Branch  Loan Works?

The branch mobile app allows you to get a loan without collateral. All you have to do is to download the mobile app, sign up with your real detail and request for loan.

Also Read: Auto Loans In Nigeria


What Is The Interest Rate Of Branch Loan?

The branch has an interest rate of 17% to 40%. The interest rate is determined by factors like loan amount and loan tenor.
Loan Terms: 4 – 52 Weeks
Late / Rollover Fees: None
Interest Range: 17% – 40%
Equivalent Monthly Interest: 1.5% – 20%
Equivalent APR: 18% – 260%
Borrowers are required to cover any bank transaction fees associated with repaying the loan. Standard SMS and data charges by your mobile carrier may apply.

The Pros Of Branch Loan

Instant loan approval
No need for a guarantor
No paperwork

The Cons Of Branch Loan

You must download the mobile application
You must attach a debit card


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