11 Best Loan Apps in Nigeria Giving More Than 100k Loan

Are you in need of urgent and emergency cash to meet an important obligation? Find out the best loan apps in Nigeria for 2020/2021/2022 year periods with low interest rates, fast processing and disbursement, reliability and reputation and possibly
loan apps without BVN or ATM Card requirements.

Today we bring you our list of top 11 best loan apps in Nigeria by customer feedback and reviews that give the highest loans of up to N100,000 to N500,000 and some others up to N1,000,000 and even more, characterised by fast disbursement, no need of collateral or documentation and that are most trusted, most reliable and considered the best lenders in Nigeria for 2022.

Top 11 Best Loan Apps In Nigeria 2022 (Giving The Highest Loan, 500K And Above) And Reliable, Reputable.
11 Best Loan Apps in Nigeria Giving More Than 100k Loan

Have you ever found yourself in a challenging financial situation due to unexpected expenses lately? Has the persistent global economic meltdown been toll on your finances? Getting the best loan apps in Nigeria may seem daunting, but it isn’t really as difficult, thanks to many now available reliable digital lenders for quick cash and emergencies.

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Unexpected circumstances definitely occur which will necessitate you getting short tenure quick loans to meet them. You can get help in no time when such emergencies occur at a time you don’t have enough money on you from any of our list of top 11 best loan apps in Nigeria for 2020/2021/2022.

For putting a smile on the face of everyday Nigerians, digital lenders and loan apps to borrow money in Nigeria are highly regarded and sought after. QUICK LOAN ARENA, your personal finance and loan review digest have compiled a list of industry favorites best loan apps in Nigeria below to guide your choice of quick cash loans.

But first let us answer some very important and related frequently asked questions not just about the best loan apps in Nigeria, but also about fake and illegal loan apps that have almost taken over the digital space and how you can avoid falling prey to them.

Which are the best loan apps in Nigeria for 2022 (Giving N100,000 – N500,000)?

QUICK LOAN ARENA carried out an independent review which monitored the performance, reputation, highest loan amount, operational ethics, customer service, customer feedback, loan recovery method and by highest number of  downloads for 2022 year period among other criteria to determine our best loan apps in Nigeria list. They are the following

List of 11 Best Loan Apps in Nigeria Giving More Than 100k Loan

Below is our list of the top 11 best lending platforms in Nigeria which are among the most trusted, most reliable, giving the highest loan amount of N100,000 (N100K) and above and generally considered the best loan apps in Nigeria for 2020/2021/2022 year period.

For your quick and emergency cash loans, we made this careful selection by our thorough ongoing reviews, customer feedback and loan amount covering 2021 to 2022 year.

The reviews monitored the performance, reputation, operational ethics, customer service, customer feedback, loan recovery method and by highest number of downloads for 2021/2022 year period among other criteria to determine our best loan apps in Nigeria list. Enjoy!

  1. Renmoney — Best for Giving Out N20,000 to N6,000,000
  2. Branch — Best for Giving Out N100,000 to N500,000
  3. Carbon —  Best for Giving N50,000 to N1,000,000
  4. FairMoney — Best for Giving Out N20,000 to N1,000,000
  5. Aella Credit —  Best for Giving N50,000 to N1,000,000
  6. Umba — Best for Giving Out N10,000 to N500,000
  7. Money In Minutes —  Best for Giving N50,000 to N5,000,000
  8. Lendigo — Best for Giving Out N100,000 to N10,000,000
  9. Migo — Best for Giving Out N10,000 to N500,000
  10. QuickCheck — Best for Giving Out N20,000 to N1,000,000
  11. Baobab Loans — Best for Giving N50,000 to N50,000,000

1. Renmoney — Best for Giving Out N20,000 to N6,000,000

Top 11 Best Loan Apps In Nigeria 2022 (Giving Out 500K And Above)
11 Best Loan Apps in Nigeria Giving More Than 100k Loan

Renmoney is our 1st pick on the list of top 11 best loan apps in Nigeria for 2020/2021/2022. The platform is a fintech offering digital banking solutions that provides loans of up to N100,000 to ₦6,000,000. It operates with a microfinance banking license, regulated by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC).

If you are in Canada, these 10 cash advance loan apps could meet your emergency and quick cash loan request.

With Renmoney, you can apply for a convenient loan to meet daily urgent financial needs like growing your small business, renovating your home, buying a new car, paying rent, school fees, medical bills, etc..

About Renmoney loans

  • – If you pay on time, you get lower rates and longer time to repay on your next loan
  • – No paperwork, no collateral or guarantor needed
  • – No hidden charges, you always see your loan terms before you commit
  • – Minimum loan repayment period is 3 months
  • – Maximum loan repayment period is 12 months
  • – Monthly interest rates range from 2.65% – 9.89% and the maximum Annual Percentage Rate (APR) is 35.76%. No other fees are charged

CLICK HERE to apply for Renmoney Loans

2. Branch — Best for Giving Out N50,000 to N500,000

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022
11 Best Loan Apps in Nigeria Giving More Than 100k Loan

Branch is one of the best loan apps in Nigeria for instant cash and our 2nd pick on the list of 11 best loan Apps in Nigeria 2020/2021/2022 giving out loan amount from N100,000 to N500,000 and higher. The platform also count for one of the most reputable by customers’ feedback for 2022.

If you are USA, you can also apply for an emergency cash advance loan even if you have a poor or bad credit rating. If you need the top and best Apps For No Credit Check Loans, direct to your debit card, CLICK HERE.

You can simply apply through the Branch app and get approved in under 24 hours. Branch don’t charge late fees or rollover fees, nor put restrictions on how you spend your money, and our customer support team is available 24/7.

Branch app gives out quick loans between N2,000 to ₦500,000 without collateral, documents or guarantors. Its loan can be used to meet any financial obligation or expenses that cannot wait till payday.

Requirements are simple – all you need to apply is your phone number or Facebook account, bank verification number (BVN) and bank account number. They will also request access to the data on your phone in order to build your credit score.

To Apply for a Loan from Branch, CLICK HERE

3. Carbon — Best for Giving Out N50,000 to N1,000,000

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022
11 Best Loan Apps in Nigeria Giving More Than 100k Loan

Carbon, formerly known as Paylater, is our 3rd pick on the list of top 11 best loan apps in Nigeria for 2020/2021/2022 that give loan amount up to N100,000 in 2022. Carbon app gives as much as N500k and more to customers.

The organization is one of Nigeria’s best digital loan platforms giving instant loans ranging from N50,000 to N1,000,000 unsecured. Loan from Carbon do not require collateral or guarantors.

At your first try, you may not be able to access big funds, you start by borrowing small, and paying back as at when due, then you can have access to bigger funds. The loan platform is available 24/7. You can apply on weekends and holidays and get a quick loan.

Document requirements to access quick loan from Carbon

  • You need to download and use the Carbon app
  • You will be required to provide your basic details such as name, phone numbers and more
  • A photo of you which you may have to snap real time with your phone via the app
  • Bank Verification Number (BVN)
  • Bank account details
  • Your ATM card that will be used to pay back loan. You will also submit major details of the card. You will be billed an initial N50 or N100 to authenticate the card.
  • This is not frequent but you may be asked for a government issued ID

To download the app on Google Play Store CLICK HERE.

4. FairMoney — Best for Giving Out N20,000 to N1,000,000

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022
11 Best Loan Apps in Nigeria Giving More Than 100k Loan

FairMoney is our 4th pick in our list of top 11 best loan apps in Nigeria 2020/2021/2022 that give the highest loan amount up to N500k and more in 2022.

FairMoney is a licensed lender, and provides quick loans ranging between ₦1,500 to N100,000 to ₦1,000,000 with repayment periods from 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%).

According to FairMoney, you can get a loan disbursement under 5 minutes if you are eligible. No collateral or paperwork is necessary with the online loan company.

You can download the FairMoney app on Google Play Store by clicking here

5. Aella Credit —  Best for Giving N50,000 to N1,000,000

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022
11 Best Loan Apps in Nigeria Giving More Than 100k Loan

Aella Credit loan app exists to simplify and open up financial access for all in emerging markets by leveraging technology and widespread mobile adoption for Nigerian borrowers. It is the 5th pick on our list of best loan apps in Nigeria for 2020/2021/2022 by loan amount giving out up to N100,000 to N500,000 and higher.

Loan from Aella Credit ranges from ₦1,500 to ₦1,000,000 with a tenor of 60 days to 180 days. Our monthly interest rate ranges from 2% – 20% and APR from 22% – 264%/annum

You can download Aella Credit app on Google Play Store by clicking here.

6. Umba — Best for Giving Out N10,000 to N500,000

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022
11 Best Loan Apps in Nigeria Giving More Than 100k Loan

Umba is the 6th pick on our list of best loan apps in Nigeria by highest loan amount, giving out up to N100,000 to N500,000 and more in 2020/2021/2022.

The lender prides itself as the leading digital bank in Africa. The app allows users to apply, drawdown and repay loans directly from their smartphone or desktop computer.

Once an individual is verified, it makes lending decisions based on an assigned risk rating.

How To Get Started

Create your account
Apply in seconds
Receive an Umba Loan
Increase your loan limit every time you repay a loan on time

You can download the Umba app on Google Play Store by clicking here

7. Money in Minutes —  Best for Giving N50,000 to N5,000,000

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022
11 Best Loan Apps in Nigeria Giving More Than 100k Loan

Money in Minutes is our 7th pick on our list of best loan apps in Nigeria in 2020/2021/2022. It gives up to N100,000 to N500,000k and higher to customers. The platform is managed by MIM Finance Company, a UK-originated lending platform with presence across three (3) continents and Nigeria’s 1st Credit Membership that gives instant cash.

The platform has a robust and wide range of products to help you access affordable finance for various needs and purposes.

To apply for a Money In Minutes Loan, CLICK HERE

8. Lendigo — Best for Giving Out N100,000 to N10,000,000

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022
11 Best Loan Apps in Nigeria Giving More Than 100k Loan

Lendigo lending platform prides itself as Nigeria’s No 1 SME Finance Provider and the 8th on our list of best loan apps in Nigeria in 2020/2021/2022. The lending platform offers Nigerian SMEs easy, fast and flexible access to working capital according to their business requirements and suited to their finance needs.

Lendigo lending organization gives up to N100,000, N200,000 and up to N10million loan amount with very flexible tenure period and competitive interest rate, no hidden charges.

For instant, payday, emergency or advance cash loan if you are in Australia, CLICK HERE.

If you are a SMEs that provide Retail and Professional services as well as traders of general merchandise such as Electronics, Computing, Phones, Fashion & Apparel, Household Goods among others, then you can apply for Lendigo loan in minutes and get it processed for you.

Up to ₦10m Loan
Apply in Minutes
Low Interest Rate
Flexible Terms

To Apply for Lendigo Loan, Click here.

9. Migo — Best for Giving Out N10,000 to N500,000

Top 30 Best Instant Loan Apps In Nigeria By Reputation 2022
11 Best Loan Apps in Nigeria Giving More Than 100k Loan

Migo (formerly kwikmoney) is a cloud-based lending platform and the 9th on our list of best loan apps in Nigeria 2020/2021/2022 giving out up to N100,000 to N500,000k to N1,000,000 and more quick emergency loans.

Migo loan amounts range from N10,000 to over N500,000 but limited to N50,000 for a new customer.  You do not need any collateral, guarantor or documentation to request a Migo loan.

All you need is an android phone, your banking details including BVN and a complete online application form.

You can also get a Migo loan by dialing *561# for MTN, 9mobile, and Glo or *554*561# for Airtel. From the list, select “Request Loan” to see a list of your customized loan offers.

To apply for a Migo loan, CLICK HERE

10. QuickCheck — Best for Giving Out N20,000 to N1,000,000

QuickCheck: Top 11 Best Loan Apps In Nigeria 2022 (Giving The Highest Loan, 500K And Above) And Reliable, Reputable.
11 Best Loan Apps in Nigeria Giving More Than 100k Loan

QuickCheck is our 10th pick on our list of top 11 best loan apps in Nigeria for 2020/2021/2022, giving out up to N100,000 to N200,000 to N1,000,000 and more and one of the best for quick cash loans for 2022. The app uses machine learning to predict borrower’s behaviour and instantly evaluate loan applications.

You can begin your application by downloading the QuickCheck app from the Google Playstore. After downloading the app, sign in with your facebook email address and password and fill the provided fields correctly.

Why Use QuickCheck?

– Borrow up to ₦1,000,000
– Choose your payment tenure
– Fast and easy access to loans, with no hidden charges
– Account is credited as soon as the loan is approved
– No collateral or guarantor needed
– QuickCheck Loan App is extremely secure and reliable
– Artificial intelligence is used to run credit scoring, making loan decisions instant!
– We are available 24/7 to support you

To apply for QuickCheck loan on Google Play Store, CLICK HERE.

11. Baobab Loans —  Best for Giving N50,000 to N1,000,000

Top 30 Best Loan Apps By Reputation For 2022
11 Best Loan Apps in Nigeria Giving More Than 100k Loan

Baobab Microfinance Bank is our 11th pick on the list of best loan apps in Nigeria for 2020/2021/2022, giving out up to N100,000 to N200,00 up to N50,000,000. The platform requires little or no documentation. It gives out loans to individuals and business owners to enable them grow and expand their business. They have different categories of loans.

The loan organization claims it can make credit decision and disbursement with in 72 hours if all requirement are met and fulfilled. Baobab gives out loan between N20,000 to N50 million repayable in 1 to 24 month with minimum administrative procedures.

Baobab minimum loan amount is N20,000 and a Maximum amount of N50,000,000. Both depend on the borrower’s repayment capacity assessed based on verifiable business inventory and other criteria.

CLICK HERE to apply for Baobab Loans

Frequently Asked Questions (FAQs) About 11 Best Loan Apps in Nigeria Giving More Than 100k Loan

Can You Stop Loan Apps in Nigeria From Accessing Your Contacts?

The answer to this question depends on what action you have previously taken! Provided you have once downloaded the loan app and have collected a loan from the platform. You can no longer stop the app from accessing your contact because it is already safely stored in the app’s external database. Even though you later uninstall the app, it is still with them.

The best you can do is stop collecting their loan and repay any outsanding loan to avoid any further harrassment, threat or blackmail. Then uninstall the app.

Can Denying Loan Apps Permission Stop Them From Calling or Messaging Your Contacts?

YES. Once you deny a loan app permission to access your contact list, you automatically stop them from accessing, calling or messaging your contacts.

However if you deny any lending platform permission from accessing your contact, your loan will NOT be approved and you won’t get any funding from the loan app. So you have to decide on which one is more important to you.

Which is the fastest loan app in Nigeria 2021/2022?

According to customer feedback, Money in Minutes provides the fastest loans in Nigeria, with requests getting approval within few minutes. This app provides instant access to loans of up to 100,000 NGN, which may be granted on your mobile device at a rate that is, by all accounts, the quickest among the best loan apps in Nigeria.

How do I get loan apps in Nigeria to stop calling my contacts? How do you stop loan apps from accessing your contacts?

To stop loan apps from accessing your contacts or calling your contacts and family members, do the following:

  1. Don’t download any loan app on your phone.
  2. If you have already downloaded a loan app, don’t approve or collect any loan from the platform.
  3. If you have already collected a loan from the platform, delete and uninstall the app immedialy from your phone and do not reinstall or collect any further loan from the credit platform.
  4. Only download and patronize reputable loan apps that will not send shame or defamatory messages to your contacts, even if they have your phone contact access.

Which app in Nigeria provides loans without a BVN?

None. There is no reputable loan app in Nigeria that does not require a BVN. This is because the BVN is the most effective paperwork for the loan app in the event of default. A BVN is also the legal document needed to verify the identity of individuals requesting loans in Nigeria via loan apps.

How to report loan apps in Nigeria

In several instances, loan apps in Nigeria have been found guilty of using coercive or even unlawful methods to get loan repayments from borrowers. This tactic has become even more incessant following the plummet of the naira, which can no longer be considered a top African currency.

To report loan app harassment in Nigeria, send an email to lenderstaskforce@fccpc.gov.ng, which is the Federal Competition and Consumer Protection Commission, FCCPC. However, it is vital to note beforehand that this authority is strongly opposed to the practice of using loan applications in Nigeria since the FCCPC states that they are unregulated.

Which is the best loan app in Nigeria with the lowest interest rate?

There are quite a number of best loan apps in Nigeria. However among the most reliable loan apps in Nigeria, Branch’s 2.5% to 20% monthly interest is the most competitive. The loan app’s APR of 18% to 260% is considerably lower than that of Fairmoney, Carbon, Palmcredit, and other rivals in the mobile loan sector.

Can loan apps block my BVN?

No loan app in Nigeria can block your BVN, as this is an imperative action that can only be executed by the CBN. Instead, if you fall short of mobile loan standards, your identity will be reported to the National Credit Bureaus.
This financial body will label you a high-risk borrower, making it more difficult for you to get a loan from any loan platform in the future.

Having a negative rating with the Bureau may seem trivial at the moment, but if you plunge into a financial crisis and require credit, no Nigerian loan app would provide you with one owing to your poor credit history.

Can a loan app access my contacts if uninstalled?

A loan app cannot access your contact list if you already uninstalled the app from your phone. However it’s likely your contacts have been downloaded and stored in the app’s database outside your phone if you ever collected a loan from them. To stop loan apps from accessing your phone contacts again, safely uninstall the app and do not patronize them anymore.

How do I stop messages from loan apps?

To stop messages from digital lenders or stop loan apps from accessing your phone contacts again, safely uninstall the app and do not patronize them anymore. Also if you are owing any outstanding loan, pay down and let the app be aware that you have paid your loan to update your records.

Can you go to jail for not paying a personal loan in Nigeria?

In most situations, failure to repay a loan does not constitute a criminal offence since it is strictly a civil issue. Civil debts are those incurred via personal loans, wages, mortgages, or credit cards; thus, nonpayment of a loan does not result in imprisonment.

Nigerian law does not recognise nonpayment as a ground for incarceration since a person who loses his job, becomes ill, or is involved in an accident cannot continue paying his debt. Given this viewpoint, you mustn’t believe that halting payment has no repercussions since loan defaults may result in the seizure of assets or even your house.

If it can be proven that you sought a loan with the aim of never paying it back, you may be imprisoned. In the event that there is substantial evidence that you intended to perpetrate fraud, the nonpayment will be considered a “patrimonial offence”.

How to stop a loan app from accessing your contact?

  1. Don’t download any loan app on your phone.
  2. If you have already downloaded a loan app, don’t approve or collect any loan from the platform.
  3. If you have already collected a loan from the platform, pay back any outsanding balance, delete and uninstall the app immedialy from your phone and do not reinstall or collect any further loan from the credit platform.
  4. Only download and patronize reputable loan apps that will not send shame or defamatory messages to your contacts, even if they have your phone contact access.

How Do I Prevent Fake Loan Apps Like Sokoloan, LCredit and others From Calling Or Messaging My Contacts?

To stop fake loan apps from accessing your phone contacts generally or specifically stop scam platforms like Sokoloan or LCredit from messaging your list, do not download their apps on your phone. Do not approve or collect any loan from them.

Do not give them permission on your phone to access your contacts. That essentially means you cannot have access to collect their loans.



Do You Need Quick Or Emergency Cash From Reputable and Reliable Loan Apps In Nigeria?

Quick Naira App: N50k Fast Loan With No Collateral Or Document
Moneycabal.com is promoting ethical lending services in Nigeria in particular and globally in general. The website also in partnership with QUICK LOAN ARENA is fighting fake loan apps
and loan shark harassment against customers across board.

In need of an instant loan or an emergency cash loan? You can apply and get funded under 3 hours, a few more hours or within 24 days.

If you are in United States of America (USA), you can also apply for an emergency cash advance loan even if you have a poor or bad credit rating. If you need the top and best Apps For No Credit Check Loans, direct to your debit card, CLICK HERE.

These Top 10 Best Instant Loans No Credit Checks Guaranteed Online Approval are also highly recommended.

If you are in Canada, these 10 cash advance loan apps could meet your emergency and quick cash loan request.

For instant, payday, emergency or advance cash loan if you are in Australia, CLICK HERE.

CLICK HERE to apply if you are an unemployed in US.

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About the Author: Femi Adeoya

Mr Femi Adeoya is a Chartered Forensic Accountant and a Certified Fraud Examiner. He has over 20 years professional work experience in accounting, finance and business management processes. As an Accounting Software Expert, he has implemented and supervised accounting solution set up of over 50 small and medium businesses in Nigeria. As a passionate blogger, Mr Adeoya is an ardent writer and communicationist. He is the CEO of QUICK LOAN ARENA (quickloanarena.com), the number 1 loan apps review website in Nigeria. He is very passionate about the quick and instant loan industry in Nigeria and has written over 200 reviews on different loan apps and digital banks in Nigeria, USA, Canada and UK.

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