Here is a simple guide on how to apply for FairMoney loan and how to repay FairMoney loan. FairMoney is a mobile loan app in Nigeria that gives loans to borrowers without any collateral.
The mobile loan app is a product of FairMoney loan app and has more than 1 million downloads on Google Play Store with a rating of 4.5.
The minimum loan amount one can borrow from FairMoney loan app is ₦1,500 and maximum ₦150,000.
Their monthly interest rate ranges from 10% to 28% EIR and APR from 120% to 260%. FairMoney loan repayment period is between 61 days to 180 days permitting borrowers to pay back their loans in installments.
FairMoney Loan Requirements
- BVN phone number
- 18 years old and above.
- Citizen of Nigeria.
FairMoney Loan App Registration Process
- Download FairMoney loan app on Google Play Store.
- Open the app and click on ‘Get Started’.
- Enter your phone number.
- A verification code will be sent to your phone. Enter it.
- Create a secret PIN number and complete the registration process by filling your personal details.
How to Apply For FairMoney Loan
- Open FairMoney loan app and click on apply.
- Fill in answers to a few questions that will be posed to you.
- You will get a loan offer thereafter.
- Enter the loan amount within your limit and repayment period.
- Enter your banks details and the money will be credited to your account in less than 5 minutes.
How to Repay FairMoney Loan
- On the home screen of your app, click on the ‘loan details”.
- Click on the pay button.
- Choose “full loan amount” to settle your loan one-off or “enter amount” to choose the amount of money you would like to pay if you’re not in a position to settle it in full.
- Click next and follow the following options.
- For bank transfer, your unique Providus bank account number and account name will be displayed on the screen.
- Click on copy and deposit your loan amount to this account using the online banking platform or over the counter at any bank of your choice.
- For USSD transfer, the USSD code of your bank together with the loan amount to be repaid followed by the Providus bank account number where the money will be sent to.
- Copy the code and paste in on your phone dialer to repay the loan.
- For Debit card transfer, select ATM.
- The card(s) registered to your account will be displayed.
- Choose the card of your choice and click on the pay option.
- The loan amount will be deducted directly from the account that has been linked to the ATM card.
Email : email@example.com
Call : 01 631 6097
I hope that this simple guide on how to apply for FairMoney loan and how to repay FairMoney loan has been of great help to you.