Last updated on September 15th, 2023 at 02:48 pm
There are tens of loan apps in Nigeria today that function well, providing small-scale loans for customers who need them. However, for a while, people who need loans above the 100k mark found it difficult, as many apps do not offer up to that. If you are one, this article puts your search to an end as I will be discussing the best loan apps that can give more than 100k in Nigeria.
The tested and trusted applications that can give more than N100,000 instant online loans in Nigeria are:
Carbon is a rapid loan service available to you through your mobile phone. Also, they have two major packages available to salary earners only, and another for everyone else. Furthermore, you can use the app to pay other bills including recharge cards and PHCN.
Follow the steps below to obtain a Carbon loan:
Branch is an app that offers you a loan with no collateral. In reality, all you need to do is to register by providing your personal details. After registration, you can borrow as low as N1,000 or as high as N200,000 with considerable interest.
Follow the steps below:
Borrowing money from Branch is very easy and can be done within 20 minutes, or even less! You can follow the steps below to get access to a loan.
Now you can compare interest rates from different lenders with our loan simulator and get the best deal. Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today
This app makes it easier for individuals looking for quick cash to gain access. Furthermore, it focuses on employees with a stable income and is affiliated with different credit bureaus in Nigeria. This is because they make use of an algorithm to determine your creditworthiness before approving loans.
Follow the steps below:
Quick, easy, and stress-free like its name KiaKia, which means fast in Yoruba. This loan app offers you up to N200,000 with varying interest rates depending on the nature of the loan. Also, the term is within 7 to 30 days.
Follow the steps below to apply for a KiaKia loan:
Although not very popular, xCredit is one of the top loan apps in Nigeria that has put together a good loan package for customers. Currently, they offer a minimum loan of N2,000 and a maximum of N500,000. Also, their loan range spans about 5 months and they do not require collateral. However, you are expected to provide your bank account details.
Applying for an Xcredit loan is pretty simple. You just need to follow the steps below:
Read also the top 10 Best Loan Apps in Nigeria with low-interest
PalmPay, a widely recognized platform, operates as an automated lending service aimed at extending credit to underserved Nigerians and those excluded from financial opportunities across Africa. In essence, the PalmPay platform offers loans to individuals requiring financial assistance.
Via its app, you can get instant loans of more than 100k and an interest rate on a PalmPay loan is between 15% to 30% which varies within that range depending on the amount of loan you obtained and your credit score.
You can learn how to borrow money on Palmpay here.
Just like xcredit, 9ja cash is an application that is not well known, but works absolutely well. They allow you to borrow up to a whopping N300,000, for a tenor of 180 days. However, their interest rate could be quite exorbitant as it spans between 1% and 34%.
Honorary mentions include Palmcredit, 9credit, Lend Me, and Sokoloan. However, we did not include them on our list because they offer a maximum loan of 100K at the time of this writing. Although things could change in the future, they do not exactly fit into the requirements of this article. However, they are reliable and can be trusted to use.
To make a thorough and informed decision before deciding on a loan app, make use of this loan comparison platform that allows you to weigh the pros and cons of the different app offers within minutes. This ensures that as much as possible, you’re only going for the offer that works best for you.
The application procedure is simple and applies to all these applications. Simply start by downloading their official app from the Play Store and then registering. On successful registration, you can then apply for a loan. Also, note that while some apps put a cap on the maximum amount a new user can borrow and increase it over time, loanspot.africa has little to no hurdles.
The importance and use of loan apps are rapidly rising, with many citizens now starting to realize how easy it is to obtain a loan. Furthermore, you can rest assured that all the apps listed on our site are tested and trusted. You simply need to download and register to enjoy their loan benefits.