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How To Apply For Fairmoney Loans, The Requirements And Interest Rate



    How To Get Fairmoney Loans, The Requirements And Interest Rate With All You Need To Know 




    In today's post, We will be showing you how to get a private or business loan in a stress freeway with little hobby and no collaterals from FairMoney, one of the lending platform in Nigeria. FairMoney can give you up to N100,000 or more, which are short time period loans for people or for small businesses. 


    About Fairmoney

    FairMoney is a financial lender that is certified and licensed in Nigerian to grant quick and immediate loans for people and small scale groups with no collateral.

    The Loan Requirements

    Incase you don’t have any loan document, or you have no collateral, then you have no problem. Fairmoney can still give you a loan without document or collateral.
    With FairMoney, you will only need to share your BVN during loan application and connect your ATM Card to authorize them to debit from your bank account for the repayment of the loan.



    Other Requirements You Should Have



    • Your information on your phone must be enough.
    • To be eligible for the loan, you must have increased phone usage like calls and SMS.
    • Your bank account must be active with revenue flowing in and out.




    Loan Duration And Amount You Can Get


    FairMoney will offers you loans from as little as N1, 500 to
    as much as N150,000 for a duration ranging from one to three months. Note that having a positive lending history, a better and fast loan repayment can give you good opportunity in getting more access to larger amount of loans for a longer duration.



    The Interest Rates


    For now, the Fairmoney loan interest rate can vary from person to person based on your profile, lending history and better repayment of loans as at when due. However, the interest rate per loan ranges from 10% to 30% per month.


    How To Apply For A Loan

    For you to apply for an instant loan from FairMoney, first, 

    • you need to have an android phone, 
    • then go to Google play store to download the FairMoney App. 
    • Once you have downloaded the FairMoney App from the Google play store, 
    • you will have to sign in with your Facebook personal profile account, 
    • then answer a few questions and verify your identity to get a loan offer. 
    • You must accept all terms and conditions for the loan, after which, 
    • you will receive your requested loan in less than 5 minutes into your preferred bank account.









    To Pay Back Your Loan


    Anytime you want to repay your loan, click on the App payment button and proceed.
    Or you can also make payment via bank transfer to

    Account Name:
    MyCredit


    Bank Name:
    Stanbic IBTC

    Account Number:
    0023462495




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