Fairmoney Loan | How To Apply | Up To N150,000 | No Collateral

Did you know that with fairmoney loan app, you can borrow money up to N150,000 instantly directly to your bank account, without any form of collateral? Yes, it's possible, And in this article am going going to discuss about this following issues:

  • Fairmoney
  • Requirements
  • What makes fairmoney different from other lenders
  • How To apply
  • Reasons to trust fairmoney
  • Interest Rate
  • Repayment Channels


Fairmoney



Fairmoney is a licensed online lending platform In Nigeria and France, that provides fast, secured, reliable and free Android banking app, that make getting loans and paying bills fast and easy and also pays you a commission for each friends you refer.

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Now fairmoney is more than just a loan platform where you get fast loans, it also offers discounts on online payments, you also earn a -5% discount and also increases your credit score which helps you to borrow a larger amount of money immediately you top-up your line or purchase data on any network of your choice (MTN, Glo, Airtel and 9mobile) while using the fairmoney loan app in Nigeria.

Fairmoney Loan Requirements


Before requesting for a loan on fairmoney, make sure you have this following requirements:

  • An Android phone with an internet connectivity.
  • Fairmoney loan app (make sure that you have downloaded and installed the app on your phone).
  • Facebook ID
  • Bank account (where your money will be deposited).


What Makes Fairmoney Different From Other Lenders



  • No Collateral Or Paperwork - All you need is your phone number and BVN to apply for a loan of up to N150,000 from your phone.
  • Flexibility - You can repay your loan on or before your due date with a reduced interest rate.
  • Secured - Fairmoney will encrypt all the information you shared with them and protect your privacy from third party.
  • Speed Of Delivery - You will receive your loan instantly within 5 minutes directly to your bank account, anywhere in Nigeria.
  • No Hidden Charges - you will not be charged for any loan you borrow or any payments made by you.
  • Fast Customer Support System - They have a well trained customer care Services that response to all your issues instantly without delay.
  • Discount & Offers - You earn a 5% discount anytime you buy airtime and data.
  • Bonus Cash - You will be rewarded with a N500 discount off your next loan through refer and earn (when ever you invite your friends to get a loan with fairmoney.
  • Fair - No discrimination towards its users.
  • Stay In Touch - With fairmoney loan app, you can track your loan history and transactions.

How To Apply For A Fairmoney Loan



Are you in need of a personal or business loan? If yes, then, follow this methods:

  • Visit the Google play store by clicking here.
  • Download and install the Fairmoney loan app.
  • Sign in or create an account if you are a new user.
  • There are two ways to create an account, that is, through Facebook or your phone number.
  • Create your secret PIN.
  • Login and click on 'Apply' on the home page.
  • Answer a few easy questions
  • Receive a loan offer
  • Select amount and repayment period.
  • Accept the loan offer
  • Enter your bank details (your bank name, BVN, account number) to receive your loan (money).
  • Receive your loan within 5 minutes if being accepted directly to your bank account.

Why Should I Trust Fairmoney With My BVN Number


Fairmoney is a Nigeria-French company with European data security standards. Your bank verification number (BVN) is needed to verify that you are the owner of the bank account you provided and also make sure you didn't default from other companies.
Fairmoney will never disclose your data/information you shared with them to third parties.

Note

To know your BVN number, quickly dial *565*0# from the phone number linked to your bank account.

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Fairmoney Loan Interest Rate


By using the fairmoney loan app, you can access a loan starting from N1,500 to N150,000 for a period of one to three months with an interest rate of 10% to 30% per month depending on your profile. The better your lending history and positive behaviour, the more you can access and the longer the period.

Fairmoney Loan Repayment Channels


Is your loan approaching it's due date? If yes, then, worry not. Apply this following methods in other to pay up your loan balance:

  • Open the loan app and click on the 'Repay' button to pay with your ATM card.
You can also repay your loans through the use of bank transfer or cash deposit to the following details:

Account Name - MyCredit
Bank Name - Stanbic IBTC
Account Number - 0023462495

Please, don't forget to add up the code that is given to you through the app in your transfer reference/description.

Once Payment is done, send an email to help@fairmoney.ng with a screenshot of your proof of payment.

Note

It takes up to 24 hours to update your repayment.

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Fairmoney Loan Contact Form



At the moment, fairmoney.ng does not accept any phone calls, but you can still contact them by sending a mail at help@fairmoney.ng for any queries, comment or suggestions.

Late Repayment Fee On Fairmoney Loan


It is very important to repay your loan fees early or at when due, so as to avoid any penalties, and also to increase your loan amount anytime you choose to apply for a loan again.

Fairmoney.ng do not reschedule loan payment date, so you should take a loan only if you have the capacity to repay.

Here are they penalties/disadvantages of any loan repayment fee on fairmoney:

  1. You shall be charged a late fee of 1.5%  per day.
  2. You shall be suspended from using your fairmoney loan account.
  3. You shall be reported to the national credit bureaus (NCB). Once being reported, you will be ban from accessing any future loans with any loan Platforms.
  4. Fairmoney will automatically deducts your loan balance from any bank account being operated by you.

Conclusion

With fairmoney loan app, you can easily borrow money instantly within 5 minutes. Please try to pay up your loans balance as at when due to avoid any penalties.

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