I first used the Branch loan app back in 2019, not expecting much after several frustrating experiences with other loan apps in Nigeria. To my surprise, Branch loan app was different — after entering just my BVN, personal details, and bank account number, ₦10,000 landed in my account in less than 10 minutes. I repaid early, hoping to get another loan, but the app kept telling me to “wait 30 days” over and over until I gave up and stopped using it.
Two years later, I tried again and was instantly approved for ₦30,000, which showed me how much the platform had improved. From my recent research and interactions with other borrowers, most users shared similar experiences — starting small and growing their loan limits up to ₦200,000 through consistent repayment. That’s when I realized that while Branch loan isn’t the best loan app in Nigeria, it has become one of the most reliable and trustworthy loan apps today.
Quick Navigations
What is Branch Loan?
Branch is not just a regular loan app in Nigeria. It’s more like a full online bank where you can borrow, transfer, pay bills, and even invest your money. The app works 24/7, and everything happens straight from your phone — no need to visit any physical office.
It’s licensed and regulated by the Central Bank of Nigeria (CBN), which gives it a lot more credibility than many random loan apps in Nigeria. Branch currently has over 50 million downloads, which shows how popular and trusted it has become.
Key Features of Branch Loan
- Loan Amounts: ₦6,000 to ₦1,000,000
- Quick Disbursement: Get money within 1–10 minutes after approval
- Repayment Periods: 62 days to 1 year
- Monthly Interest: 3% to 23%, depending on your credit profile
- No Collateral Needed: Completely paperless
- Free Transfers: First 2 transfers monthly are free
- 2% Cash Back: Earn cash back every time you pay bills or buy airtime
- Investments: Earn up to 23% interest annually
Eligibility Criteria for Branch Loan
Who Can Apply
Anyone with a valid Nigerian bank account and BVN can apply. You must be at least 18 years old and have a working smartphone with internet access.
Branch doesn’t require collateral, guarantors, or employment letters. However, your loan eligibility depends on your phone data and transaction behavior. The app uses smart data — like how you spend, your SMS alerts, and phone details — to determine your credit score.
Required Documents
- BVN (Bank Verification Number)
- Active bank account
- Valid phone number
- Android smartphone
- Some access permissions on your phone (to verify identity and assess eligibility)
No paperwork, no guarantor — everything is done directly on the app.
Branch Loan Interest Rates and Fees
Interest Rate Breakdown
Branch’s interest rates range between 3% to 23% monthly, depending on your risk profile. That means your rate can be lower if you have a good credit history or repay loans early.
For example:
If you borrow ₦60,000 at an APR of 181% per annum for 62 days,
Interest = (₦60,000 × (181% ÷ 365)) × 62 = ₦18,400.
Total repayment = ₦60,000 + ₦18,400 = ₦78,400.
You’ll make two payments of ₦39,200 each month.
Check how much your Branch loan will cost with our free loan calculator tool.
Additional Charges and Fees
Branch loan doesn’t charge loan origination or processing fees. There are no hidden costs, which is something I personally like about the app.
However, if you delay repayment, you might get charged a late payment fee. The amount depends on how long you delay, so it’s better to pay early.
How to Apply for Branch Loan
Step-by-Step Application Process
- Download the Branch loan App from Google Play Store.
- Sign up with your phone number and create an account.
- Enter your BVN and connect your bank account.
- Allow required permissions (for Branch to analyze your eligibility).
- Apply for a loan by choosing your desired amount and repayment date.
- Wait for approval — usually takes less than 10 minutes.
- Once approved, money is sent directly to your Branch wallet or bank account.
Application via Mobile App / Website
Currently, Branch works mainly through its mobile app. You can download it, register, and do everything there — from taking loans to investing. The branch loan official website is for information, not for applying.
Branch Loan Limits and Repayment Terms
Minimum and Maximum Loan Amount
Branch loans range from ₦6,000 to ₦1,000,000. New users usually start small, but as you build trust through repayments, your limit increases.
Repayment Duration Options
You can choose between 62 days to 1 year, depending on your loan type. The app automatically shows your repayment date before you confirm.
Late Payment Penalties
If you fail to repay on time, you might face:
- Late fees
- Reduced loan limit
- Possible suspension of borrowing privileges
To avoid this, it’s always better to repay before or on the due date.
Pros and Cons of Branch Loan
Advantages
✅ Quick disbursement — money in 1–10 minutes
✅ No paperwork, collateral, or guarantor
✅ 2% cash back for bill payments and airtime
✅ Simple, user-friendly app interface
✅ Transparent loan terms
✅ Investment options up to 23% returns
✅ Regulated by the Central Bank of Nigeria
Disadvantages
❌ Interest rates can be high for new users
❌ Some users face “wait 30 days” issues even after repayment
❌ Loan limit increases slowly for some people
❌ Works only through the mobile app (no web loan access)
Tips to Improve Your Loan Approval Chances
- Always repay loans early or on time.
- Keep the Branch app active and updated.
- Maintain a good bank transaction history.
- Avoid uninstalling the app — it affects your credibility.
- Use the Branch wallet regularly to show financial activity.
- Avoid taking loans from too many apps at once.
Frequently Asked Questions (FAQs) about Branch Loan
1. How long does it take to get a Branch loan?
Usually between 1 to 10 minutes after approval.
2. Can I apply without BVN?
No. BVN is mandatory to confirm your identity and prevent fraud.
3. What happens if I don’t repay on time?
You’ll be charged a late fee and may lose access to higher loan offers.
4. Does Branch report defaulters to credit bureaus?
Yes. Unpaid loans can affect your credit score.
5. Can I invest using the Branch app?
Yes! You can earn up to 23% per annum on fixed investments or 10% on Flexi investments.
Conclusion
Is Branch Loan Right for You?
If you want quick access to cash without stress, Branch loan is one of the most reliable options among loan apps in Nigeria today. The loan disbursement is fast, the process is simple, and there are no hidden fees.
My experience had its ups and downs — from that early frustration of being told to wait 30 days, to later returning and getting ₦30,000 instantly. But overall, Branch has grown to become a trusted online bank that not only gives loans but also helps users save and invest smartly.
If you’re consistent with repayments and patient enough to build your loan history, Branch can easily become your go-to online bank for instant cash loans, transfers, and even investment growth.
Try our free Loan Repayment Calculator
Before you apply for Branch loan, it’s smart to know exactly how much you’ll repay. Use our free loan calculator to estimate your total cost and monthly payment based on the amount and duration you choose.
