7 Best Long-Term Loan Apps in Nigeria

Looking for the best loan apps in Nigeria with more than 3 months repayment period? Look no further you're not alone. Millions of Nigerians need access to money to start a business, expand their existing business, or cover unexpected expenses. But traditional banks can be difficult to qualify for a loan from, and the process can be long and complicated.

That's where long-term loan apps come in. These apps allow you to apply for a loan online, and you can often get approved and receive your funds within minutes. And because these apps are not subject to the same regulations as traditional banks, they may be more willing to lend to people with bad credit or no credit history.

This blog post will delve into best long-term loan apps in Nigeria in 2023.

7 Best Long-Term Loan Apps in Nigeria

Here are the 7 best long-term loan apps in Nigeria in 2023:

EazyCredit

EazyCredit is a mobile app that provides quick and easy loans to Nigerians. It is a product of RenMoney Microfinance Bank Limited, a licensed microfinance bank by the Central Bank of Nigeria.

EazyCredit offers loans of up to N500,000 with a repayment period of up to 6 months. The app is user-friendly and easy to navigate. To apply for a loan, simply download the app, create an account, and fill out the application form. You will need to provide your personal information, employment information, and bank account information. Once you have submitted your application, the app will review your information and make a decision. If you are approved, you will typically receive your funds within minutes.

EazyCredit is a good option for Nigerians who need a small loan quickly and easily. The app is also a good option for people with bad credit or no credit history, as EazyCredit does not require a credit check.

Kuda

Kuda is a digital banking platform that offers a variety of financial services, including loans. It is a product of Kuda Bank, a licensed commercial bank by the Central Bank of Nigeria.

Kuda offers loans of up to N2 million with a repayment period of up to 12 months. To apply for a loan, you will need to create a Kuda account and provide your personal information, employment information, and bank account information. Kuda will also review your credit history to determine your eligibility for a loan.

QuickCheck

QuickCheck is a mobile app that provides short-term loans to Nigerians. You can borrow up to N100,000 with a repayment period of up to 3 months. QuickCheck does not require any collateral or paperwork, and you can get approved for a loan in minutes.

QuickCheck is a good option for people who need a small loan quickly and easily. However, it is important to note that QuickCheck's interest rates are higher than those of some other loan apps.

Okash

Okash is a mobile app that provides quick and easy loans to Nigerians. It is a product of OPay Limited, a licensed microfinance bank by the Central Bank of Nigeria.

Okash offers loans of up to N500,000 with a repayment period of up to 12 months. To apply for a loan, simply download the app, create an account, and fill out the application form. You will need to provide your personal information, employment information, and bank account information. Once you have submitted your application, the app will review your information and make a decision. If you are approved, you will typically receive your funds within minutes.

Okash is a good option for Nigerians who need a small loan quickly and easily. The app is also a good option for people with bad credit or no credit history, as Okash does not require a credit check.

Branch

Branch is a mobile app that provides loans and other financial services to Nigerians. It is a product of Branch International Limited, a licensed microfinance bank by the Central Bank of Nigeria.

Branch offers loans of up to N500,000 with a repayment period of up to 12 months.Branch also offers competitive interest rates, and it allows you to spread your payments over three months or more, depending on your creditworthiness.To apply for a Branch loan, simply download the app, create an account, and fill out the application form. You will need to provide your personal information, employment information, and bank account information. Branch will also review your credit history to determine your eligibility for a loan.

If you are approved for a loan, you will typically receive your funds within minutes. You can repay your loan in installments over a period of 3 to 12 months

Carbon

Carbon is a mobile app that provides loans and other financial services to Nigerians. It is a product of Carbon Finance Limited, a licensed microfinance bank by the Central Bank of Nigeria.

Carbon offers loans of up to N1 million with a repayment period of up to 12 months. To apply for a loan, simply download the app, create an account, and fill out the application form. 

ALAT

ALAT is a digital banking platform that offers a variety of financial services, including loans. It is a product of Wema Bank, a licensed commercial bank by the Central Bank of Nigeria.

ALAT offers loans of up to N5 million with a repayment period of up to 12 months. To apply for a loan, you will need to create an ALAT account and provide your personal information, employment information, and bank account information. ALAT will also review your credit history to determine your eligibility for a loan.

ALAT is a good option for Nigerians who need a larger loan with a longer repayment period. The app also offers competitive interest rates and no collateral requirements.

Conclusion

There are a variety of long-term loan apps available in Nigeria. Each app has its own unique features and benefits, so it is important to compare the different apps before choosing one.

Once you have chosen a long-term loan app, be sure to read the terms and conditions carefully before you apply for a loan. Make sure that you understand the interest rates, repayment terms, and fees associated with the loan.