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Is Naira Plus loan app legit, What is the interest rate for Nairaplus loan, and Is Nairaplus registered? These are common questions we receive from our readers since we started writing about loans.
We all know how financial needs can arise unexpectedly. Whether it’s for emergency expenses, education, or business growth, having access to quick and convenient loans can be a game-changer. Nairaplus Loan App is one such platform that offers a hassle-free borrowing experience. In this blog post, we will explore the requirements and step-by-step process to apply for a loan through the Nairaplus Loan App.
What Is Nairaplus Loan App?
Nairaplus Loan App is a user-friendly mobile application that enables individuals to access instant loans directly from their smartphones. With its simple interface and quick approval process, Nairaplus aims to provide financial assistance to Nigerians when they need it the most. To get started, let’s first understand the requirements to apply for a loan through the app.
Eligibility Criteria:
To be eligible for a loan through the Nairaplus Loan App, you need to meet certain criteria, which include:
- Age Requirement: You must be between 18 and 60 years old.
- Nigerian Citizenship: You need to be a citizen of Nigeria.
- Bank Account: You must have an active bank account in your name.
- Employment Status: Some lenders may require you to have a stable source of income, while others may not have strict employment criteria.
- Credit History: Your credit history may be taken into consideration, but Nairaplus also caters to individuals with limited or no credit history.
- Android phone to download the Nairaplus loan app from Play Store.
- BVN is also required to complete your verification.
See also: How To Get My NIN Online In Nigeria
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How to apply for a loan via Nairaplus loan app:
The process of applying for a loan through Nairaplus Loan App is straightforward. Follow these steps:
- Download and Install: Visit the official app store (Available for Android only) and search for “Nairaplus Loan App.” Download and install the app on your smartphone.
- Open the app you downloaded and wait for the welcome screen to appear, then click on Create an Account: Open the app and create an account by providing your basic information and agreeing to the terms and conditions.
- Complete profile: Fill in your personal and financial details accurately to increase your chances of loan approval.
- Select loan amount: Click on the “obtain loan” button on your app dashboard to choose the loan amount you require and the repayment duration that suits your needs.
- Submit application: Review your application and submit it for verification.
- Loan approval: Once your application is approved, the loan amount will be disbursed to your bank account.
See also: 5 Best Instant Loan Apps Without BVN In Nigeria
Nairaplus minimum and maximum loan amount
Currently, the minimum loan amount is 2,000 Naira while the Nairaplus maximum loan amount is 50,000.
What is Nairaplus interest rate?
The annual interest rate for the Nairaplus loan is relatively low. It is within the range of 16%-21% yearly.
NB: To easily get approved for your Nairaplus loan application, make sure you always repay on time and do not join the Nairaplus loan defaulters list.
Conclusion:
The Nairaplus Loan App provides a convenient and accessible way for Nigerians to secure quick loans. By meeting the eligibility criteria, submitting the required documents, and following the application process, you can avail yourself of the financial assistance you need. Remember to borrow responsibly and repay your loans on time to maintain a healthy credit profile.
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