To Get a 10 million Naira Loan in Nigeria 2023: I understand the fact that there are lot of businesses out there that would need a quick loan of upto 10 million Naira to start a business or take care of an emergency, I have take off the stress from you by doing the research to find you some deals with very low interest rates, so you don’t need to look any further.
In Nigeria, it’s hard to get a big loan because most lenders only give out small loans, usually for less than 100,000. This is mostly because so many people don’t pay back their bills.
Most of the time, the payment terms for these lenders are short, which is not good for companies.
Even if it’s your first time borrowing, you might be able to get a loan of 10,000,000 or more from a few lending sites. In this post, we’ll look at some Nigerian lenders who give out 10 million Naira.
So, if you’re looking for “How to get 10 million Naira loan in Nigeria,” come with me and we’ll look at what’s out there.
How To Get a 10 Million Naira Loan in Nigeria 2023
1. Standard Chartered Loan
Standard Chartered is one of the most well-known banks that lends business owners up to 10 million Naira to customers who qualify to get or recieve a loan from them. In fact, it offers loans for as much as 20 million Naira.
Standard Chartered loans are easy to get, but borrowers must meet certain requirements, show proof, and fill out an application form. If the loan is accepted, the money will be sent to your bank account in a few days.
The rules of the loan say that principal and interest are to be paid back every month.
Most Standard Chartered loans have low interest rates and are easy to pay back. Also, the length of the loan can be up to 6 years, and buyers can use a calculator to figure out their interest rates.
2. FCMB Bank Loan
FCMB is a well-known Nigerian bank that gives loans of up to 10 million Naira without security. This loan deal is mostly for small and medium-sized businesses (SMEs), and the terms are flexible.
The interest rates on FCMB SME loans are very low, at 2.5% per month, which is equal to 30% per year. Also, the length of time you have to pay back the loan is open. You can choose between 30, 60, or 90 days.
To apply for this loan, you must have an account with FCMB, make a good amount of money, and make sure that your account gets money every month. You can also check your qualifications by calling your account officer.
You can ask for a loan from FCMB through their online banking platform or by going to their branch and talking to their account officer.
3. AGSMEIS Loan
Last yet not least, if you own a small business in Nigeria and need money to help it grow, AGSMEIS loans are made just for SMEs in Nigeria, especially those in the farm industry.
The Central Bank of Nigeria and Banker’s groups have given their blessing to the lender. AGSMEIS gives business loans of up to 10 million Naira with low interest rates of only 9% per year.
The loan is mostly given out through the NIRSAL Microfinance bank, but you can also get it through other banks that AGSMEIS has accepted.
You can apply for an AGSMEIS loan with just your phone and BVN if you have all the necessary documents and meet the criteria.
If you are looking for loan apps in Nigeria that can give you up to 10 million Naira, the ones listed above are popular choices. Still, you need to look at both of them before choosing one. Let’s learn more about that.
Getting different loan offers for 10 million Naira in Nigeria can be tricky sometimes most especially if you don’t know how you can navigate or who to reach out for help or guide in the aspect.
When comparing the 10 million Naira loans offered in Nigeria without collateral from the above loan apps, keep the following in mind:
Loan amount: The most you can borrow with each app.
Interest rate: How much each app charges for interest on loans.
Loan term: How long each loan takes to pay back.
Eligibility: standards are the things you have to do to be able to get a loan.
Application process: How easy and fast it is to apply.
Important reminder: Before you ask for a loan on any of these apps, make sure you read and understand the terms and conditions, interest rates, and repayment schedule. It’s also important to remember that if you don’t pay back loans on time, you may have to pay extra fees, face fines, and see your credit score drop.
Conclusion on How To Get a 10 Million Naira Loan in Nigeria 2023
Online lenders are a great choice for people and businesses in Nigeria who want to borrow 10 million Naira quickly and easily. Several Nigerian loan apps, however, offer smaller amounts.
If you ask yourself that i need 10 million naira and where can you get it, so you all it now in front of you now as you just read through the 3 platform that can offer you urgent loan in nigeria. Some of them will also give you 2 million naira loan without collateral, so you have no excuse not to start that your evergreen business this year.
This post has information about apps that offer 10 million Naira loans without collateral or more. This is the best answer to the question “Where can I get a 10 million Naira loan in Nigeria?” or if you ask yourself how can i get 1 million naira loan in nigeria, it’s not a must you request for a loan of 10 million naira, you can definitely go less just as much loan you want to start business.