Best Long-Term Loan Apps In Nigeria


Having a long-term loan helps you in many ways. When you obtain a long-term loan, the interest rate is reduced compared to a short-term loan. In other cases, it also helps give you a lift in your other businesses. The question that may arise is how can you get business loans in Nigeria.

This article will answer that question.

In this article, you will be reading about top loan apps in Nigeria that offer long-term loans. Without chatting much, let’s consider them;

1. Renmoney

Renmoney is a financial platform that is also known for offering loans to its customers. With Renmoney, you can get loans as high as 5,000,000 naira for starting up a business and others.

The Renmoney platform is trusted by millions around Nigeria and offers a repayment duration of up to 24 months, depending on the amount you borrow.

With Renmoney, you can make a loan request now and have it granted in the next 24 hours. The Renmoney app is also accessible and easy to use should you intend to borrow a loan via this method.

2. Fairmoney

Fairmoney has been in existence in Nigeria for several years providing financial solutions to Nigerians. Fairmoney allows you to borrow loans from the app and gives you loan plans that you can cope with.

With Fairmoney, you can borrow up to 5,000,000 naira which can be used to sort out your bills and other necessities. However, with Fairmoney, you can be given a payment period of up to 6 months depending on the amount you borrow.

You can get loans from Fairmoney with the Fairmoney app. It is accessible and allows you to borrow money from anywhere and anytime.

3. Carbon

When it comes to reliability in offering financial solutions, only a few loan apps beat Carbon. Carbon has set its standard as one of the best apps to provide loan services in Nigeria.

With the Carbon loan app, you could borrow loans as high as 5,000,000 naira to start your business or scale up. Regardless of how much you borrow, you could be given a repayment period of 12 months to pay back.

To get a carbon loan, you can use the recognized Carbon loan app. It is easy to use and has a good customer interface.

4. Branch 

Branch loan app is another app that has provided loan services to Nigerians for years. Using Branch, you can borrow up to 2,000,000 naira. With Branch, you could be allowed to repay in 12 months. However, this is depending on how much you borrow.

Aside from giving loans to its customers, Branch also helps its customers carry out other transactions with the app. With the app, you can pay bills, buy airtime, and also make transfers.

5. Aella Credit

Aella Credit is a top-notch platform that has been in the business of loan services for a long time now. They have proven to be reliable and trustworthy.

Aella Credit can provide loans up to 2,500,000 naira. You can use this loan to start the business you’ve always wanted to start or to pay off costs. You can receive a 24-month loan repayment duration from Aella Credit.

Once you request a loan using the Aella Credit app, you can get your application approved in minutes.

READ ALSO: Best Loan Apps For N10,000, N20,000, N30,000 Naira Loans In Nigeria

6. SnapCredit

Individuals in Nigeria can apply for long-term loans with SnapCredit, a reliable lending app. The app provides fast loan approvals, flexible payback schedules, and reasonable interest rates.

Borrowers using SnapCredit can obtain loans for amounts between N10,000 and N500,000, with terms varying from four weeks to twelve months.

The mobile app makes it easy to finish the loan application process.

Utilizing a unique credit scoring methodology, SnapCredit evaluates borrowers’ creditworthiness based on several variables, such as repayment capacity, work history, and financial behavior.

7. Palmcredit

Individuals in Nigeria can apply for long-term loans through the well-known loan app PalmCredit. With various payback schedules of 14 to 180 days, the app gives users access to loans with amounts ranging from N2,000 to N100,000.

According to PalmCredit, it uses a unique credit scoring algorithm that evaluates a borrower’s creditworthiness by looking at several variables, such as past transaction history and financial behavior.

Loan approvals are given out in a matter of minutes, and the application process is straightforward. Loan monies are transferred straight to the borrower’s bank account upon approval.


Can I repay my long-term loan early?

If the funds are available, you can repay your long-term loan early. This would cause a reduction in the interest rate and an extension of the repayment period the next time you attempt to take a loan from the same platform.

Do loan apps have requirements?

Loan apps do have requirements to meet before one can be eligible to borrow. Let’s go over the requirements:

– Bank Verification Number

– Proof Of Identity

– Proof Of Address

How long does it take to get a loan approved and disbursed through a loan app?

For some loan apps, it takes minutes. For others, it takes take hours sometimes up to 24 – 48 hours.

Does Fairmoney give out loans?

Yes. Fairmoney gives out both short-term and long-term loans. This you can use to start your business or sort out other problems.

Is the Carbon app CBN approved?

The Carbon Loan App is a CBN-approved platform. It has been in existence for years now delivering smooth services to its customers.


In this article, you’ve seen the apps that offer long-term loan deals in Nigeria. So if you want a loan that would be large enough and also that would allow a lengthy repayment period, then you know what to do.

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