Finding a loan of more than ₦1 million in Nigeria can be difficult if you are only looking at small short-term loan apps.

Some digital lenders, banks and platforms now publish loan products with limits of ₦2 million, ₦5 million, ₦10 million or more, although the amount a particular borrower receives depends on eligibility, income, credit history, account activity, loan purpose and the lender’s assessment.

This guide looks at 10 loan apps and digital lending platforms available to Nigerians whose published products can exceed ₦1 million.

The list is presented for information and comparison. It is not a ranking, and Naija Money Guide is not recommending that readers borrow from any particular provider.

Important: Loan limits, interest rates, fees, eligibility requirements and availability can change. A published maximum does not mean every applicant will qualify for that amount. Always check the lender’s current official terms before applying and calculate the total amount you will repay.

Quick Comparison

Provider	Published loan amount above ₦1m	Main type	Application channel
Renmoney	Up to ₦10 million	Personal loan	Renmoney app
Carbon	Up to ₦2 million	Personal loan	Carbon app
FairMoney	Up to ₦3 million	Personal loan	FairMoney app
Moniepoint	₦1 million and above	Business loan	Moniepoint app/dashboard
Stanbic IBTC EZ Cash	Up to ₦10 million	Personal loan	Stanbic app/Internet Banking/USSD
Access Bank	Up to ₦10 million	Personal/digital loan options	QuickBucks/AccessMore/USSD
GTBank QuickCredit	Up to ₦5 million	Salary/personal loan	GTWorld/Internet Banking/USSD
UBA Personal Loan	Up to ₦30 million	Salary/personal loan	Online/branch
Sterling Specta	Up to ₦5 million	Personal/business loan	Specta platform
FCMB EasyLift	Up to ₦2 million	Small-business loan	FCMB channels

Important: The figures above are published maximums or product limits, not guaranteed offers.

1. Renmoney

Maximum published loan amount: Up to ₦10 million

Renmoney is a Nigerian financial services provider offering loans and savings through its digital platform.

Its current app listing says customers can apply for loans of up to ₦10 million, subject to eligibility. The published loan range is ₦5,000 to ₦10 million, with repayment periods stated as 91 days to 12 months.

The app listing also provides a representative example for a ₦2 million loan, showing why borrowers should examine the complete repayment figure rather than focusing only on the amount they can receive.

Who may consider Renmoney?

The product is intended for eligible customers who meet Renmoney’s lending requirements.

Approval and loan size depend on the lender’s assessment.

How to apply

1. Download the official Renmoney application.
2. Register or log into your account.
3. Complete the required verification.
4. Select the loan option if it is available to you.
5. Enter the amount you want to request.
6. Review the repayment terms carefully.
7. Submit your application.
8. If approved, follow the instructions for disbursement.

What to check

Before accepting the offer, check:

• Interest rate
• Management or other fees
• Total repayment
• Repayment period
• Late-payment terms
• Eligibility conditions

Do not assume that because the maximum is ₦10 million you will automatically receive that amount.

2. Carbon

Maximum published loan amount: Up to ₦2 million

Carbon provides digital banking and lending services in Nigeria.

Its current loan information states that customers can access personal loans ranging from ₦10,000 to ₦2 million, depending on eligibility.

Carbon also states that higher loan amounts can be unlocked through repayment behaviour and other transactions on the platform.

How to apply

The general process is:

1. Download the official Carbon app.
2. Create your Carbon account.
3. Complete the required registration information.
4. Use the app to check whether you have an available loan offer.
5. Select your desired amount.
6. Review the loan information.
7. Accept the terms only if you understand the repayment obligation.
8. Complete the application.
9. If approved, the funds are credited according to the lender’s process.

Carbon says its loan application can be completed through the app and that eligible customers can receive funds after approval.

Important cost warning

Carbon currently publishes a range of monthly interest rates and gives representative examples on its website.

For example, its published example shows that borrowing ₦1 million for 12 months can result in a total repayment substantially higher than ₦1 million.

Therefore, never treat ₦1 million as the amount you will eventually pay back.

3. FairMoney

Maximum published loan amount: Up to ₦3 million

FairMoney is another digital financial platform offering loans in Nigeria.

FairMoney’s support information states that its app offers loans of up to ₦3 million, but the actual amount a customer qualifies for depends on the company’s credit policy and assessment.

According to its published guidance, factors that can affect a customer’s eligibility include outstanding loans, repayment history and credit score.

How to apply

1. Install the official FairMoney app.
2. Create or log into your account.
3. Complete the required verification.
4. Check your available loan offer.
5. Select the amount available to you.
6. Review the repayment information.
7. Accept the terms if you are comfortable with them.
8. Submit the application.
9. Follow the app’s instructions for disbursement.

How to increase your potential eligibility

FairMoney says customers may improve their chances of qualifying for higher amounts by:

• Repaying loans on time
• Avoiding excessive outstanding loans
• Maintaining regular activity on the platform
• Using other available financial services appropriately

 

However, these actions do not guarantee approval or a particular loan amount.

4. Moniepoint

Published business loan: ₦1 million and above

Moniepoint is particularly relevant for small-business owners, rather than readers looking for a general personal cash loan.

Its working-capital loan page currently states that eligible businesses can access a minimum of ₦1 million and more without collateral.

The published effective interest-rate range is 24%–40% per annum, although the actual offer and terms depend on the business and lender assessment.

How to apply

Moniepoint describes the process as:

1. Have a Moniepoint account.
2. Log into your business dashboard.
3. Check whether a loan offer is available.
4. Confirm your eligibility.
5. Select an available offer.
6. Review the terms.
7. Accept the appropriate offer.
8. If approved, the funds are paid to the account according to the lender’s process.

Moniepoint says loan repayment is automatically deducted according to the agreed payment plan.

Who is this suitable for?

This option is primarily relevant to entrepreneurs and businesses that need working capital.

It should not be confused with a general-purpose personal loan.

5. Stanbic IBTC EZ Cash

Maximum published loan amount: Up to ₦10 million

Stanbic IBTC’s EZ Cash is a digital personal loan that can be accessed through its banking channels.

The bank currently publishes a loan range of ₦50,000 to ₦10 million, with repayment terms of up to 24 months.

Who can apply?

Stanbic IBTC states that applicants need:

• A salaried account with Stanbic IBTC
• An active account for at least six months
• Age between 18 and 59
• Satisfactory credit checks
• Other applicable eligibility requirements

How to apply

The bank provides several application channels:

1. Open the Stanbic IBTC Mobile App.
2. Select the relevant loan option.
3. Complete the application.
4. Alternatively, use Internet Banking.
5. The bank also provides a USSD route: *909*44#.
6. Complete the required eligibility and credit checks.
7. Review the final offer.
8. Accept the loan terms if they are suitable.
9. Receive the funds if approved.

Important

Stanbic IBTC currently publishes a 4% monthly interest rate for EZ Cash together with other applicable charges.

Because the cost can be significant, calculate the total repayment before accepting the facility.

6. Access Bank

Published digital/personal loan limit: Up to ₦10 million

Access Bank provides several borrowing products through its digital and banking channels.

Its Small Ticket Personal Loan information states that eligible customers may access an amount up to 400% of monthly salary, subject to a maximum of ₦10 million and other conditions.

The bank also provides access through the QuickBucks app and AccessMore.

How to apply

Depending on the product:

1. Download or open the official Access Bank application.
2. Sign in to your account.
3. Select the relevant loan section.
4. Check your eligibility.
5. Select the available loan offer.
6. Review interest, fees and repayment conditions.
7. Submit the application.
8. Complete any additional verification required.
9. Receive the approved amount according to the product terms.

Access Bank also provides USSD access for some loan products.

Business borrowers

Access Bank also publishes business lending options above ₦1 million, including business loans and an Instant Business Loan that can provide up to ₦10 million without collateral for eligible customers.

7. GTBank QuickCredit

Maximum published loan amount: Up to ₦5 million

GTBank QuickCredit is a digital loan product for eligible salary earners.

The bank currently publishes a maximum loan amount of ₦5 million and repayment periods of up to 12 months.

Basic eligibility

GTBank states that applicants should meet conditions including:

• Salary account requirements
• Minimum income requirements
• Credit assessment
• No qualifying unpaid obligations
• Other applicable conditions

The bank’s published information specifies a minimum monthly salary of ₦30,000 for this product.

How to apply

Eligible customers can apply through:

• GTWorld
• GTBank Internet Banking
• GTBank USSD

The published USSD code is:

*737*51*51#

Application process

1. Log into GTWorld or Internet Banking.
2. Open the loan section.
3. Check your QuickCredit eligibility.
4. Enter or select the amount available.
5. Review the interest and other charges.
6. Choose the repayment period.
7. Accept the terms if appropriate.
8. Submit the request.
9. If successful, the loan becomes available according to the bank’s process.

GTBank currently publishes a 2.95% monthly interest rate and a 1% credit-insurance charge for QuickCredit.

8. UBA Personal Loan

Maximum published loan amount: Up to ₦30 million

UBA’s Personal Loan is designed primarily for eligible salary earners.

UBA currently publishes a maximum loan amount of ₦30 million, subject to salary, debt-service ratio and other conditions.

The repayment period can extend up to 60 months.

Who may qualify?

UBA states that applicants must generally:

• Be confirmed employees
• Have a UBA salary account
• Work for an employer on the bank’s approved list
• Meet the bank’s credit and documentation requirements

Documents may include

• Completed loan application
• Valid identification
• Payslip
• Bank statement showing salary inflows
• Employer-related documentation
• Staff identification

How to apply

UBA provides an online application route as well as branch support.

The general online process is:

1. Visit UBA’s official self-service platform.
2. Select Loan Services.
3. Complete the guided application.
4. Receive an eligibility assessment.
5. Submit the required documents.
6. Review the loan offer.
7. Accept the terms after understanding them.
8. After approval, the loan is disbursed according to UBA’s process.

Important

The ₦30 million figure is a maximum published product limit, not a promise that an individual applicant will receive ₦30 million.

Your salary, existing obligations and other eligibility factors can significantly affect the amount.

9. Sterling Specta

Published maximum: Up to ₦5 million

Specta is Sterling’s digital lending platform.

Its current website advertises loans of up to ₦5 million and describes different products for personal and salary-earner needs.

One of the listed products, Specta Xtreme, advertises loans of up to ₦2 million for personal and business purposes, while Specta Basic advertises community lending of up to ₦5 million for eligible salary earners.

How to apply

The process generally involves:

1. Visit the official Specta platform.
2. Choose the relevant loan product.
3. Provide the requested information.
4. Complete the required verification.
5. Allow the platform to assess your eligibility.
6. Review the loan offer.
7. Check the repayment obligations.
8. Accept the terms if suitable.
9. Complete disbursement requirements.

Important

The availability of a particular Specta product and the amount offered can depend on the applicant’s circumstances.

Do not assume that every customer can access the advertised maximum.

10. FCMB EasyLift

Published maximum: Up to ₦2 million

FCMB’s EasyLift is particularly relevant to small-business owners.

FCMB currently describes EasyLift as a small-business financing product with borrowing of up to ₦2 million.

This makes it different from a typical emergency personal-loan app.

Who may consider it?

The product is intended for eligible small-business operators who need funding to support business activities.

How to apply

The exact application route depends on FCMB’s current process and eligibility requirements.

A prospective borrower should:

1. Visit the official FCMB website.
2. Go to the loans section.
3. Select EasyLift.
4. Review the eligibility requirements.
5. Provide the requested business information.
6. Submit the application through the approved FCMB channel.
7. Complete any required verification.
8. Review the final offer.
9. Accept only after understanding the repayment terms.

What could the money be used for?

Business financing may be used for legitimate business needs such as:

• Stock
• Working capital
• Equipment
• Business expansion
• Other permitted business expenses

Always follow the specific terms attached to the facility.

Can You Really Get More Than ₦1 Million From a Loan App?

Yes, some digital lending products and banking platforms publish limits above ₦1 million.

However, there is an important difference between:

“The product has a maximum limit of ₦10 million”

and

“You will receive ₦10 million.”

The first is a product limit.

The second would be a guarantee—and lenders generally do not guarantee that every applicant will receive the maximum amount.

Your actual offer can depend on:

• Income
• Salary history
• Bank-account activity
• Credit history
• Existing loans
• Debt-service ratio
• Business performance
• Account history
• Loan purpose
• Internal credit assessment
• Verification results

Personal Loan vs Business Loan: Which Should You Apply For?

Before applying, identify the purpose of the money.

Personal loan

A personal loan may be designed for eligible individuals and can be used for permitted personal expenses.

Examples include:

• Education
• Medical expenses
• Home improvements
• Personal projects
• Other approved needs

Business loan

A business loan is designed around business activities.

Examples include:

• Inventory
• Equipment
• Working capital
• Expansion
• Business operations

If you need ₦2 million to purchase business inventory, a business-financing product may be more appropriate to investigate than taking a personal loan for the same purpose.

What Documents Might You Need?

Requirements differ between lenders.

Depending on the product, you may need:

• Valid identification
• Bank account
• BVN
• NIN or other verification information
• Proof of income
• Payslip
• Bank statements
• Employment information
• Business information
• Business transaction history
• Credit assessment

Do not send sensitive documents to a person claiming to be a loan agent unless you have independently verified the organisation and official application channel.

How to Increase Your Chances of Qualifying for a Larger Loan

There is no guaranteed method for obtaining a higher loan limit.

However, responsible financial behaviour can help lenders assess your creditworthiness.

Consider:

1. Pay existing loans on time

Late repayments can negatively affect your borrowing profile.

2. Avoid excessive simultaneous borrowing

Having many outstanding loans can affect your ability to qualify for additional credit.

3. Maintain accurate financial records

Business owners should keep records of sales, expenses and cash flow.

4. Keep your account information updated

Make sure your personal and employment information is accurate.

5. Build a consistent financial history

A lender may consider your previous account or repayment activity when determining eligibility.

6. Borrow only what you can repay

A larger loan is not automatically better.

The important question is whether the repayment fits your financial capacity.

How Much Will a ₦1 Million Loan Really Cost?

This is one of the most important questions borrowers should ask.

Suppose a lender offers:

Loan: ₦1,000,000

Do not assume your repayment is also ₦1,000,000.

You may have:

• Interest
• Management fee
• Insurance
• Processing charges
• Other applicable costs

The final amount may therefore be higher.

For example, Carbon currently publishes a representative ₦1 million, 12-month example with a total payable amount of ₦1.54 million.

This illustrates why borrowers should compare total repayment, not just the amount received.

7 Questions to Ask Before Accepting a ₦1 Million+ Loan

Before clicking Accept, ask:

1. How much will I actually receive?

Some fees may be deducted before disbursement.

2. How much will I repay altogether?

This is more useful than looking only at the headline loan amount.

3. What is the repayment period?

A shorter period can mean higher periodic repayments.

4. What happens if I pay late?

Understand penalties and other consequences.

5. Can the lender automatically debit my account?

Read the agreement carefully.

6. What happens if I already have another loan?

Existing obligations can affect your eligibility.

7. Can I comfortably afford the repayment?

If the answer is no, reconsider the borrowing decision.

Important Warning About “Instant ₦5 Million” Loan Advertisements

Be cautious when you see social-media advertisements promising:

• Guaranteed ₦5 million
• Guaranteed ₦10 million
• No verification
• No eligibility checks
• Everyone qualifies
• No repayment
• Government-approved free money

A genuine loan is not free money.

A loan creates a repayment obligation.

Also, an advertisement using the name or logo of a known bank or financial institution does not automatically prove that the person contacting you is an authorised representative.

Use the lender’s official website or application rather than a random WhatsApp number or social-media account.

How to Avoid Fake Loan Apps

Before downloading or using a loan application:

1. Search for the official company website.
2. Check who operates the app.
3. Check the relevant regulatory information.
4. Compare the app name with the company’s official information.
5. Read the privacy policy.
6. Read the loan terms.
7. Check the total repayment.
8. Avoid sending money to random individuals.
9. Never share your PIN or one-time password.
10. Keep copies of your agreement and payment records.

For digital lenders subject to the FCCPC framework, the Commission maintains published information on digital lending companies and apps.

The FCCPC also advises consumers to exercise caution with digital lenders that do not appear on its current approved list.

Why You Should Not Choose a Loan Based Only on the Maximum Amount

A lender advertising ₦10 million does not necessarily mean that it is appropriate for someone who needs ₦1.2 million.

Similarly, a lender offering ₦2 million may have a repayment structure that is more manageable for a particular borrower.

Compare:

• Total cost
• Interest rate
• Fees
• Tenure
• Monthly repayment
• Eligibility
• Purpose of the loan
• Consequences of default
• Customer support
• Regulatory information

The right question is not:

“Which app gives the biggest loan?”

It is:

“Which available financing option has terms I understand and can realistically repay?”

Frequently Asked Questions

Which loan apps in Nigeria offer more than ₦1 million?

Examples of platforms with currently published products above ₦1 million include Renmoney, Carbon, FairMoney, Moniepoint’s business lending, Stanbic IBTC EZ Cash, Access Bank digital loan products, GTBank QuickCredit, UBA Personal Loan, Sterling Specta and FCMB EasyLift.

The products differ significantly, and not every applicant qualifies for the maximum amount.

Can I borrow ₦1 million without collateral?

Some products above ₦1 million are advertised without traditional collateral requirements. However, eligibility, income verification, credit checks and other conditions may still apply.

“Without collateral” does not mean “without requirements.”

Can I get ₦5 million instantly?

Some lenders publish maximums of ₦5 million or more, but that does not mean every customer can receive ₦5 million instantly.

Approval and disbursement depend on the lender’s eligibility process.

Which loan app gives the highest amount?

There is no need to choose a lender solely based on the highest advertised maximum. Different products have different purposes and eligibility requirements.

A published maximum also does not mean that every borrower will qualify for that amount.

Can a salary earner get a loan above ₦1 million?

Yes. Some salary-based products published by Nigerian banks have limits above ₦1 million. Eligibility commonly depends on salary, employer, account history, existing obligations and credit assessment.

Can a business owner borrow more than ₦1 million?

Yes. Several Nigerian financial institutions publish business-financing products above ₦1 million. Business loans may require information about business activity and cash flow.

Does having a good credit history guarantee a large loan?

No. Credit history can be one factor in lending decisions, but lenders may consider several other factors.

Should I borrow ₦1 million if I do not have a stable income?

Borrowing without a reliable repayment plan can create financial stress. Before accepting a loan, make sure you understand how the repayments will be funded.

Final Thoughts

Loans above ₦1 million are available through a number of Nigerian banks, digital lenders and fintech platforms, but the maximum advertised amount should never be confused with guaranteed approval.

Renmoney, Carbon, FairMoney, Moniepoint, Stanbic IBTC, Access Bank, GTBank, UBA, Sterling Specta and FCMB all have published financing products that can exceed the ₦1 million level, although their target customers, application procedures and terms are different.

If you are considering borrowing, start with the amount you genuinely need rather than the maximum amount advertised.

Then compare:

Loan amount → Total cost → Repayment period → Monthly repayment → Fees → Eligibility → Consequences of late payment.

Most importantly, use the lender’s official application channel and verify current terms before submitting personal or financial information.

Financial Disclaimer

This article is for general educational and informational purposes only. Naija Money Guide is not a bank, lender, loan broker, financial institution or government agency. Inclusion of a lender or financial product in this article does not constitute an endorsement or recommendation.

Loan limits, interest rates, fees, eligibility requirements, regulatory status and application procedures can change. A published maximum loan amount does not guarantee that an applicant will receive that amount. Always verify current information directly with the relevant provider and read the complete loan agreement before accepting any credit facility.

Borrow only an amount you can reasonably afford to repay.