Top 5 Long-Term Loan Apps in Nigeria 2024 [& Their Interest Rates]

  • November 19, 2023

Long-Term Loan Apps in Nigeria: Are you looking for a loan app where you can borrow huge amounts with a long tenure of up to 3 years? Nairarush has got some solutions for you.

In the bustling heart of Nigeria’s financial landscape, the demand for efficient and accessible loan options is soaring. More and more Nigerians are exploring digital solutions to their long-term financing needs.

With that in mind, it’s essential to navigate the sea of apps that promise to offer the best long-term loans.

This guide aims to help you uncover how to get a long-term loan in Nigeria with ease and precision, as we delve into the top 5 loan apps with long term repayment policy that are reshaping how we borrow money for a long time in Nigeria.

What is a Long-Term Loan?

Before we start our journey into the world of digital lending, it’s essential to understand the terrain.

Long-term loans are, as their name suggests, loans that are repaid over an extended period, typically over a year.

They can be a financial lifesaver in situations that require significant funding, such as starting a business, buying a house, or investing in education.

However, it’s crucial to consider the advantages, such as smaller monthly repayments, against potential drawbacks like the total interest paid over the loan’s lifetime.

Check Out: How to Get 2 Million Naira Loan without Collateral in 5 Minutes

Top 5 Long Term Loan Apps in Nigeria

To save you the hassle, we’ve taken a deep dive into each app, unravelled their features, and reviewed their user experiences. Here are the best:

1. Renmoney

Long term loan apps in Nigeria

Renmoney is a renowned Nigerian fintech company that offers a variety of loans to meet customers’ unique needs, one of which includes long-term loans.

Renmoney offers loan amounts from N5,000 up to N6,000,000 with repayment plans that span up to 24 months.

The interest rates are competitive and reflect market conditions and the borrower’s credit score. Renmoney has made the loan application process seamless with its online platform.

The application requires personal and employment details, along with supporting documents like bank statements.

With an overall positive rating, customers often highlight Renmoney’s prompt service and easy-to-use app interface.


  • Loan Tenure: 3 to 24 Months
  • Loan Amount: ₦5,000 to ₦6,000,000
  • Interest Rate: 2.4% – 9.33%
  • Repayment Method: Wallet funds or Bank transfer.


  • High loan amount up to N6,000,000.
  • Flexible repayment up to 24 months.
  • Fast and smooth online process.


  • Requires various documents like bank statements.
  • Interest rate depends on credit score.

Check Out: How to Borrow up to 6 Million from Renmoney

2. ALAT by Wema

ALAT by Wema is Nigeria’s first fully digital bank. Apart from regular banking services, it provides loans, including long-term ones.

Depending on your credit score, ALAT by Wema offers loans up to N2,000,000. The repayment period can be extended up to 18 months.

As one of the best loan app with long term in Nigeria, the loan application process is completed within the app. Users need to fill out the form and upload the required documents for approval.

ALAT is highly praised for its innovative banking solutions. Customers appreciate the app’s user-friendliness and swift loan approval.

Users enjoy the convenience and innovation, though some have reported occasional technical glitches.


  • Loan Tenure: Up to 18 Months
  • Loan Amount: ₦50,000 and above
  • Interest Rate: 2%
  • Repayment method: Wallet funds or Bank transfer.


  • First fully digital bank in Nigeria.
  • Quick loan approval.
  • Loans up to ₦50,000,000


  • Limited to app users.
  • Some users report technical glitches.

Related: How to Get Instant 50K Loan in Nigeria

3. Aella Credit

Another long term loan app in Nigeria is Aella Credit. It is a major player in the Nigerian financial market, providing loans to employees of partner companies and individuals.

Aella Credit offers loans from N2,000 to N1,500,000 with a repayment period of up to a year depending on the loan amount and the borrower’s credit rating.

The loan application process on the Aella Credit app is swift, as it involves downloading the app, filling out the application form and uploading the necessary documents. The loan approval usually happens within minutes.


  • Loan Tenure: 2 – 12 months
  • Loan Amount: ₦1,500 to ₦1,500,000
  • Interest Rate: 2% – 20%
  • Repayment method: Bank transfer.


  • Fast approval, usually within minutes.
  • Loans targeted at employees and individuals.
  • Repayment period up to 12 months.


  • Partner company employees get priority.
  • Lower maximum loan amount (N1,500,000).

4. Zedvance

Zedvance prides itself as a customer-centric company providing fast and flexible consumer loans including long-term loans.

This app provides loans from N2,500 up to N5,000,000. The repayment period can span up to 18 months depending on the borrower’s credit score and loan amount.

As a loan app with low interest and long term, Zedvance’s loan application process is simple and can be completed within the app, with approval usually granted within 24 hours.


  • Loan Tenure: Up to 18 Months
  • Loan Amount: ₦2,500 to ₦5,000,000
  • Interest Rate: Varies
  • Repayment method: Bank transfer.


  • Customer-focused approach.
  • Loans up to N5,000,000.
  • Approval within 24 hours.


  • Credit score heavily influences the loan.

Read Also: Best Monthly Loan Apps in Nigeria

5. Page Financials

long term loan in Nigeria

Last but certainly not least on our list of online loan with long term payment in Nigeria, Page Financials, a retail financial service provider. They offer a range of services including long term loans in Nigeria.

Loan amounts of up to N5,000,000 can be availed with a flexible repayment tenure of up to 12 months. The loan application can be completed online.

After entering personal and employment details and uploading necessary documents, users can get approval within hours.


  • Loan Tenure: 3 – 12 Months
  • Loan Amount: ₦100,000 to ₦5,000,000
  • Interest Rate: 3.1%
  • Repayment method: Bank transfer.


  • Diverse financial services.
  • Loans up to N5,000,000.
  • Quick online approval.


  • Requires multiple documents for approval.

How to Choose the Best Long-Term Loan App for you

The secret to successfully securing a long-term loan in Nigeria lies in your choice of loan app.

An ideal app should offer competitive interest rates, clear repayment terms, transparency in charges, exemplary customer service, and a seamless user experience.

So how do you sift through the noise to find these gems?

Check Out: 10 Best New Loan Apps in Nigeria

Tips to Successfully Acquire and Repay a Long-Term Loan

Once you’ve decided on an app, it’s crucial to understand how to use your long-term loan wisely.

Start by maintaining a good credit score – this increases your chances of loan approval and potentially lowers interest rates.

Be diligent about your repayments, as failing to repay can harm your credit score and incur penalties.

Lastly, use your loan for the intended purpose to ensure that you’re investing in something that will offer a return, whether financial or otherwise.

See Also: How to Get a Payday Loan in Nigeria

Additional Features to Look Out For in Long Term Loan Apps

In today’s digital age, loan apps with long term are constantly innovating to make the user experience more comfortable and efficient.

Look out for apps that offer features like loan calculators, automatic repayment reminders, and personalised loan recommendations.

Long-Tenure Loan Apps in Nigeria – FAQs

To further assist you on this journey, we’ve answered a few frequently asked questions about how to get a long-term loan in Nigeria and how to borrow money for a long time in Nigeria.

What is the maximum amount I can borrow from a long term loan app in Nigeria?

The maximum loan amount depends on the app, your credit score, and your repayment capacity.

How quickly can I get a loan from an app for long term loan in Nigeria?

With the right documents, some apps can approve your loan within 24 hours.

What are the best apps for loans with long tenure in Nigeria?

The best loan apps with long tenure in Nigeria include Renmoney, Aella Credit, Page Financials, ALAT by Wema, and Zedvance.


Navigating the landscape of long term loan app in Nigeria can seem daunting. However, armed with the right knowledge, you can find the perfect app to meet your financial needs.

As you set out on your journey to borrow money for a long time in Nigeria, remember that the power of choice is in your hands. You can navigate through the long term loan apps in Nigeria provided in this article.