Get 100K Naira Loan Offers In Nigeria November 2023 » Voice of Nigeria

Explore our detailed guide on top loan apps in Nigeria offering loans more than 100k. From Carbon to 9ja Cash, find the right fit for your borrowing needs today

Top Loan Apps in Nigeria Offering More Than 100k

In today’s Nigerian financial landscape, a multitude of mobile applications are at your service, offering quick, small loans to meet immediate needs. However, should your financial ambitions soar above the 100,000 Naira mark, your options dwindle, as the majority of these apps set their ceiling below your requirement. This comprehensive article will bridge the gap, presenting an in-depth analysis of top-tier loan apps designed to fulfill substantial monetary needs, providing you with more than 100,000 Naira, alongside their terms and usability.

Loan Apps Offering More than 100k

1. Carbon (formerly Paylater):

Carbon is a swift and handy loan service available right on your mobile device. They offer two primary packages – one for salary earners and the other for everyone else. Apart from loans, you can also pay bills including recharge cards and PHCN via the app.

Here’s how you can get a Carbon loan:

1. Sign up by giving them all your details like your name, phone number, and email.
2. You’ll need to take a photo of yourself using the app.
3. Click on the “Request a Loan” button.
4. Wait a little bit for them to check and approve your loan. It usually doesn’t take long.
5. Once your loan is approved, you can accept it and give them your card details. Usually, the loan can be for anywhere between 30 days to 12 months.

So, if you need an instant loan, Carbon might be a good choice for you. Just make sure to follow these steps, and you could have the money you need in no time

2. Branch:

As the name suggests, Branch extends its ‘branches’ to offer you a loan with no collateral requirement. Register by providing your personal details and borrow as low as N1,000 or as high as N200,000 with a reasonable interest rate.

Here’s how you can get a Branch loan:

Getting a loan from Branch is a quick and simple process that can be completed in 20 minutes or less. Just follow these steps:

1. Download the Branch Loan app from the Google Play Store (Note: There was no Branch Loan app available for iOS users when this post was published).
2. Create an account and fill out a straightforward form. Make sure to provide accurate information to prevent any delays in getting your loan.
3. Discover the amount of money you can borrow and apply for the loan.
4. Within 24 hours, you’ll have the money deposited into your bank account.

With Branch, it’s easy to access the funds you need without a lot of hassle. Just follow these steps, and you’ll be on your way to securing a loan

3. Aella Credit:

Focused on employees with stable incomes, Aella Credit is a fantastic app for those seeking quick cash. Their affiliation with various credit bureaus in Nigeria enables them to leverage an algorithm to determine your creditworthiness before loan approval.

Here’s how to use Aella Credit:

1. Download the Aella Credit app from either the Apple App Store or the Google Play store.
2. Create your account by filling out a simple form. They won’t ask for any unusual or personal information.
3. Update your profile; once again, no unusual requests.
4. Check your eligibility to see if they approve you for a loan and how much they’re willing to lend you.
5. Apply for the loan. Just because you’re approved for a certain amount doesn’t mean you have to borrow it all. Borrow only what you really need, as loans must be paid back.
6. Remember, loans come with the responsibility to repay. While they won’t ask for your kidneys during the process (just kidding), be responsible and borrow only what you genuinely require.
7. Receive the funds in your bank account

4. KiaKia:

Living up to its name, ‘kiakia’—meaning fast in Yoruba—this loan app ensures a quick, easy, and stress-free loan process, offering up to N200,000. Interest rates vary, and the loan term ranges from 7 to 30 days.

To apply for a KiaKia loan, follow these steps:

1. Visit the website and create an account, providing accurate details.
2. Initiate an application chat on the website.
3. Upload a valid means of identification.
4. Enter the amount of money you want to borrow.
5. Select the loan duration.
6. Upload screenshots of your last three salary or business income alerts.
7. If your application is approved, accept the loan terms and conditions.
8. Verify your bank account.
9. Finally, once everything is in order, you will receive the funds in your account

5. Xcredit:

Though not very popular, Xcredit is one of the top loan apps in Nigeria with a well-structured loan package for customers. Offering a loan range of N2,000 to N500,000 spanning around five months, they do not require collateral but expect you to provide your bank account details.

Here’s how you can apply for an Xcredit loan, and it’s quite straightforward:

1. Start by creating an account.
2. Then, apply for the loan you need.
3. Once approved, the loan amount will be deposited directly into your bank account.
4. As you repay your loans on time, your loan limit can increase over time

6. 9ja Cash:

9ja CashGet is a relatively unknown loan app in Nigeria that allows you to borrow up to N300,000 for a tenor of 180 days. The interest rate ranges from 1% to 34%, which is somewhat high.

To apply for a loan from 9ja CashGet, you will need to download the app from the Google Play Store or Apple App Store, create an account, and provide your personal information. Once your loan is approved, the funds will be deposited into your bank account within 24 hours.

9ja CashGet is a reliable service that has been in business for several years. However, it is important to note that the interest rate on 9ja CashGet loans is somewhat high, and there may be hidden fees.

If you are considering using 9ja CashGet to get a loan, be sure to read the loan terms and conditions carefully and make sure that you can afford to repay the loan.

Honorary Mentions

Apps such as Palmcredit, 9credit, lend me, and Sokoloan deserve mention for their reliability, even though they currently offer a maximum loan of 100K. But as their policies could change in the future, they are worth keeping an eye on.

How to Apply for a Loan

Applying for a loan is a straightforward process common to all these apps. Begin by downloading their official app from the Google Play Store and registering. Post successful registration, you can apply for a loan.

Please note that while some apps cap the maximum amount a new user can borrow and increase it over time, loanspot.africa offers little to no hurdles.

In conclusion, although these apps offer loans exceeding 100k, it is essential to consider their interest rates and terms before making a decision. Always remember, a well-informed decision is a wise decision. Happy borrowing.

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