A Guide to Securing 100k Loans and Above in Nigeria


In the quest for financial assistance, many Nigerians often find themselves in search of loan options that offer substantial amounts, specifically ₦100,000 and above. While numerous loan apps in Nigeria provide quick access to smaller loans without the need for collateral or high credit scores, securing a substantial loan can be a more challenging task. This guide aims to address this issue by presenting five trusted loan apps in Nigeria that offer 100k Loans and beyond. Whether you’re a business owner or an individual with financial needs, these apps provide viable solutions. Join us on this exploration as we delve into the world of loan apps in Nigeria.

Top 5 Loan Apps That Offer ₦100,000 and Above in Nigeria 2023

1. Branch Loan App

Branch stands as one of the pioneers in the Nigerian loan app market. With over 10 million downloads on the Google Play Store, it’s undoubtedly a trusted source for loans of up to ₦500,000. What sets Branch apart is its flexibility in repayment, extending up to 15 months. To be eligible for a loan on Branch, you must be a Nigerian resident with a valid bank account, a BVN, and a stable source of income. The app offers competitive interest rates, making it a preferred choice for many.

2. Fairmoney

FairMoney is another esteemed player in the Nigerian loan app ecosystem. This app allows borrowers to access loans of up to ₦500,000 with a repayment window of up to 6 months. Fairmoney boasts over 1 million downloads on the Google Play Store and offers loans at attractive interest rates, establishing its reputation as a trustworthy option. Eligibility requires Nigerian residency, a valid bank account, and a consistent source of income.

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3. Carbon Loan App

Formerly known as Paylater, Carbon is a prominent name in the Nigerian loan app sphere. It not only offers loans of ₦100,000 but extends its lending capacity to ₦1,000,000. Carbon features fair interest rates and a flexible repayment period that can stretch up to 6 months. Like Fairmoney, Carbon has garnered over 1 million downloads on the Google Play Store, solidifying its reliability. To be eligible for a Carbon loan, you need a valid bank account, a BVN, and a stable source of income. Importantly, Carbon doesn’t require collateral or a guarantor for loan approval.

4. Renmoney

RenMoney stands as one of the most popular loan apps in Nigeria, providing loans of ₦100,000 and above with a repayment period that can extend to 24 months. Renmoney’s loan process is hassle-free, with no collateral or extensive paperwork needed. Eligibility requires Nigerian residency, an age range of 22 to 59 years, a verifiable source of income, a valid bank account, and proper means of identification. You can apply for a Renmoney loan via their website or mobile app, making it a convenient choice.

5. PalmCredit

PalmCredit wraps up our list of loan apps offering ₦100,000 in Nigeria. It provides loans of up to ₦100,000 with a repayment window of up to 180 days. PalmCredit has maintained a presence in the market for a considerable time, accumulating over 1 million downloads on the Google Play Store. To qualify for a loan on PalmCredit, you must be a Nigerian resident aged between 18 to 55 years, possess a valid bank account, and have a verifiable source of income. The PalmCredit app is user-friendly, making it accessible for loan seekers.

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Comparison of Loan Apps

When considering these loan apps, several factors come into play:

  • Loan Amount: Each app offers varying maximum loan amounts.
  • Interest Rate: Interest rates differ among the apps.
  • Loan Tenure: The repayment period varies for each loan.
  • Eligibility Requirements: The criteria for loan eligibility differ.
  • Application Process: The ease and speed of applying for a loan can vary.

It’s crucial to review the terms, interest rates, and repayment schedules for each app before making a choice. Additionally, timely loan repayment is essential to avoid additional fees, penalties, and potential damage to your credit score.


While the Nigerian loan app landscape predominantly caters to smaller loans, there are reliable options for those seeking ₦100,000 and above. Branch, Fairmoney, Carbon, Renmoney, and PalmCredit stand as reputable choices for borrowers with diverse financial needs. As you navigate the world of loan apps, remember to assess your requirements, carefully read the terms and conditions, and ensure that your chosen app aligns with your financial goals. By doing so, you can confidently access loans that suit your needs in Nigeria.

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