Where Can I Get a Loan of 100k in Nigeria? Looking for an answer to that? Fortunately, you just landed on the right post.
In Nigeria, loan apps have made it easier for individuals to access loans without the need for collateral or a high credit score. However, due to a lack of trust in Nigerians, lots of loan apps in Nigeria only offer small loans of ₦5,000 to ₦10,000.
Thankfully, a few loan apps offer loans of ₦100,000 and even more to borrowers that meet their requirements. In this post, we will be discussing five loan apps that give 100K in Nigeria.
So, if you’re seeking “loan app that can borrow me 100k”, join me and let’s explore this post together!
Top 5 Loan Apps That Give 100K and Above in Nigeria 2023
1. Branch Loan App
The first loan app on our list is Branch. Branch offers loans of up to ₦500,000 with a flexible repayment period of up to 15 months.
The app has over 10 million downloads on the Google Play Store and offers loans at competitive interest rates. To be eligible for a loan on Branch, you must be a Nigerian resident with a valid bank account, a BVN, and a source of income.
To apply for a loan, simply download the Branch app, register, and fill in your personal and financial details.
Related: Top 10 Loan Apps that Give Higher Amounts in Nigeria
2. Fairmoney
FairMoney is another loan app that gives 100K in Nigeria. In fact, on this app, you can access loans of up to ₦500,000 with a repayment period of up to 6 months.
The Fairmoney app has over 1 million downloads on the Google Play Store and offers loans at competitive interest rates, making it very trustworthy.
To be eligible for a loan on FairMoney, you must be a Nigerian resident with a valid bank account and a source of income. To apply for a loan, simply download the FairMoney app, register, and fill in your personal and financial details.
Read Also: 8 Good Loan Apps Like Fairmoney in Nigeria
3. Carbon Loan App
If you own a business and asking where can I get a loan of 100k in Nigeria, Carbon doesn’t only give 100K loans, but you can access up to ₦1,000,000 on the app.
Carbon loan come with fair interest rates and a flexible repayment period ranging up to 6 months. Just like Fairmoney, the app has over 1 million downloads on the Google Play Store, which means it is reliable.
With just a valid bank account, a source of income, and a BVN, you can be eligible for Carbon loan. Also, no collateral whatsoever, or a guarantor is needed to get your loan application approved on the Carbon loan app.
4. Renmoney
The fourth loan app on our list is RenMoney. RenMoney is one of the most popular loan apps that give 100k and above in Nigeria. With a repayment period of up to 24 months, borrowers get loan offers worth millions of Naira on Renmoney.
The app has no collateral or paperwork requirements, making it easy to access loans. To be eligible for a loan on RenMoney, you must be a Nigerian resident between the ages of 22 to 59 years old, have a verifiable source of income, and a valid bank account and means of identification.
To apply for a loan, simply visit the RenMoney website or download the RenMoney app, fill in your personal and financial details, and wait for loan approval.
Check Out: How to Get Loan in Minutes in Nigeria
5. PalmCredit
The last on our list of loan apps that give 100,000 Naira in Nigeria is PalmCredit. PalmCredit offers loans of up to ₦100,000 with a repayment period of up to 180 days.
The app has been in existence for a very long time and has over 1 million downloads on the Google Play Store. To be eligible for a loan on PalmCredit, you must be a Nigerian resident between the ages of 18 to 55 years old, have a valid bank account, and a verifiable source of income.
To apply for a loan, simply download the PalmCredit app, register, fill in your personal and financial details, and wait for loan approval.
So, if you’re seeking loan apps that can borrow you 100k, those (above) are the popular loan apps that give 100k in Nigeria. However, it is important you compare the apps before settling for one. Let’s discuss more on that.
Comparison of Loan Apps
In comparing the loan apps listed above, it is important to consider the following factors:
- Loan amount: The maximum loan amount offered by each app.
- Interest rate: The interest rate charged on loans by each app.
- Loan tenure: The repayment period for each loan.
- Eligibility requirements: The requirements needed to be eligible for a loan.
- Application process: The ease and speed of the application process.
Note: Before applying for a loan on any of these apps, it is important to read and understand the terms and conditions, interest rates, and repayment schedule. It is also important to note that failure to repay loans on time can lead to additional fees, penalties, and a negative impact on your credit score.
See Also: List of Loan Websites in Nigeria
Conclusion
Loan apps are a great option for individuals in Nigeria looking to access loans of up to ₦100,000 quickly and conveniently. However, many Nigerian loan apps offer low amounts. With this post containing the ones that give 100,000 Naira and above, I believe we’ve given the perfect answer to the question “Where can I get a loan of 100k in Nigeria”.
