7 Top Loan Apps That Give Higher Amounts In Nigeria 2023

Due to their accessibility and convenience, loan applications have grown in popularity in Nigeria over the past few years. Loan apps provide a quick and simple way to access cash, whether you need money to start a company, pay bills, or cover unforeseen expenses.

Despite providing instant cash, the majority of loan applications in Nigeria typically have very low limits, ranging from ₦2,000 to ₦20,000. However, that doesn’t mean there aren’t any lending apps with higher amounts, or “Higher Loan Apps,” as they are known in Nigeria.

We’ll talk about the best loan apps in Nigeria that offer higher amounts in this piece. You will therefore become familiar with the loan applications that offer up to millions of Naira, their interest rates, loan tenors, and other details.

Determinants Of Loan Eligibility

Before we even show you the first loan app in Nigeria that offers a larger amount, it’s critical that you understand what determines your eligibility for a loan.

Your ability to borrow money from a loan app relies on a number of variables. The following are some of the variables that affect the amount of the credit you can get:

Credit Rating

Your credit score plays a key role in determining the amount of money you can get from a loan application. You are more likely to be approved for a larger loan amount if you have a better credit score.


Another important aspect that affects the amount of loan you qualify for is your income. Borrowers must usually have a reliable source of income in order for loan applications to be approved.

Your chances of being approved for a larger loan sum increase with your income.

Repayment Record

Typically, loan applications look at your repayment past to assess your creditworthiness. You are more likely to be granted a loan for a higher amount if you have a past of timely loan repayment.

Loan Apps that Give Higher Amounts in Nigeria

Here are the top loan apps that give higher amounts in Nigeria:

1. Credit to Aella

Looking for a loan program in Nigeria that offers higher loan amounts? Another higher loan application to attempt is Aella credit. You have recourse to loans in the range of ₦2,000 to ₦1,500,000.

Aella loans have a comparatively long term of up to a year and a low interest rate that ranges from 2% to 20% per month.

You can obtain the app or submit an online loan application to Aella Credit. This app’s primary loan requirements are a high credit score, a reliable source of revenue, and BVN.

2. KwikMoney

KwikMoney is another loan app with a higher sum in Nigeria. This app, formerly known as Migo Loan, provides loans with amounts ranging from ₦500 to ₦500,000 with terms of 14 days to 6 months and interest rates of 10% to 25%.

You require a working bank account, a BVN, and a means of income in order to apply for a loan. According to KwikMoney, loans are disbursed within an hour of acceptance.

3. Okash Okash

Okash Okash is another well-liked loan company in Nigeria. With relatively low interest rates, this app provides higher loan limits varying from ₦6,000 to ₦500,000.

Applying for Okash loans is a very simple process. Your credit will be disbursed into your bank accounts in minutes after you download the app, create an account, and complete the online loan application.

4. RenMoney

Another higher lending application in Nigeria is RenMoney. The app provides loans with amounts ranging from ₦6,000 to ₦6 million and repayment terms of 3 to 24 months.

You require a working bank account, a BVN, and a means of income in order to apply for a loan. RenMoney typically demands collateral in the form of a vehicle or a piece of real estate for loans over one million Naira.

5. FairMoney

FairMoney is a loan application that provides loans with amounts varying from ₦1,500 to ₦1,000,000 and repayment terms of 61 to 180 days. Fairmoney has monthly loan interest rates ranging from 10% to 30%.

You require a working bank account, a BVN, and a means of income in order to apply for a loan. According to FairMoney, loans are disbursed within five minutes of acceptance.

6. Carbon

Over 1 million people have downloaded Carbon, one of the most widely used loan applications in Nigeria, from the Google Play Store. Loans from ₦ 1,500 to ₦ 20 million with a 2 to 6 month repayment term are available from Carbon.

The loan interest rates on this app vary from 2% to 30%. The length of the loan repayment time and the loan amount you request will, however, determine this.

7. Branch

Another well-liked lending app that offers higher amounts in Nigeria is ranch Branch, which has received over 5 million downloads on the Google Play Store.

Branch provides loans with terms varying from 4 weeks to 15 months and amounts ranging from ₦1,000 to ₦500,000. You must have a working bank account and a source of income in order to qualify for a loan.

You must have a Bank Verification Number (BVN), an active bank account, and proof of income in order to qualify for a loan.

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