Fairmoney Loan; We believe many people are on the lookout for where to get loans for small businesses, personal developments, school fees payments and all, but in most times you may have to find it very hard to get around this as it is not just that easy to do.
Need I remind you that many loan apps that promise to give #50,000 without collateral actually do not do that but they go about starting your loans with #2,000 at most no matter how good your credit score is.
Now this is where Fairmoney comes into play as they do strive to [provide exactly what they promised the applicants.
- Disclosure: Here @profitablebusiness.com.ng, we independently research, test, and recommend the best loan and loan apps for you to secure a loan without any collateral. Feel Free to contact us for financial Advise.
Lets quickly dive into fairmoney Loans and explore what you can gain while trying to get loans from this top class loan provider in Nigeria.
What is fairMoney Loan?
This is a Nigerian based loan lending company which is founded with the sole aim of the financial problems you are facing now.
Fairmoney loan offers both personal loans, Educational loans, Business loans among many others.
The Fairmoney Loan is founded by Laurin Hainy whic its loan office is Felix Ojokpe.
I have take out my time to write extensively about the Fairmoney Loan as a result of the fact that getting a loan from Fairmoney Loan is quite easy, simple and not stress packed unlike many other loan providers who go about to promise heaven on earth.
It takes barely 48 Hours to get a loan from Fairmoney Loan.
That being said, we cannot deny the fact that Fairmoney loan have certain requirements you must fulfil to be able to be granted loan by them but these are not much as they are listed below;
FairMoney Loan Requirements
- A Smartphone.
- Your Facebook account (Not always necessary).
- Bank account (Where the money will be disbursed).
How to apply for FairMoney loan
Applying for a loan at Fairmoney loan is as easy as ABC, lets get started…
- First, download the FairMoney loan app on your Smartphone.
- Open the installed app and fill the necessary information needed from you.
- Fill in your first name, last name, and your fairMoeny referral code (It’s optional).
- Fill in your BVN and add your card details to the FairMoney app(Your BVN is 100% safe with FairMoney).
- Put in the amount you want and the period of time you want it and also provide your bank details.
- Once your loan is approved, FairMoney will send your money directly to your bank account.
FairMoney interest rate
FairMoney Loan interest rate is not constant as you already know and this is not just peculiar to fairmoney but many other loan providers for that sake, The interests varies and ranges from 10% to 30% per month depending on your credit score.
NOTE: Your interest rate depends on your credit score, you will get a very good interest rate if you have lower credit risk and you can as well get a higher interest rate if you have a bad credit score.
What happens if Fairmoney rejects your Loan?
Loans applied for at Fairmoney can be rejected of course this happen lesser than it does but if it ever happens, it is always due to one of the following reasons listed below;
- Having a bad credit score/history (Try fixing it before reapplying again).
- You provided misleading or false information during your loan application.
- FairMoney may think that you do not qualify for their loan or that you cannot pay back as at when due.
What to do to get loan Approved
If your loan gets rejected at the first or second application, try reapplying again in few weeks. Do not delete your SMS history, call history most importantly your bank alert history.
If you follow the steps mentioned above, we assure you that your next loan application will be successful.
FairMoney referral program
When you refer someone to get a loan from the loan provider, and the person happens to pay back his/her loan, you will automatically get a discount of N500 off your own loan payment.
Make you tell them to make use of your own FairMoney invite link that the only way FairMoney will know that you are the one that invited them.
We regret to tell you that there is no contact number or customer service number reason best known to them but we think that they do not want to attend any call for now.
Writing on the Fairmoney loan review, Fairmoney can only contact you when you fail to make a repayment of your loan on the agreed date.
FairMoney loan repayment
After getting approved on fairMoney, you are expected to pay back your loan with the interest as at when due.
NOTE: FairMoney does not allow rescheduling of repayment like other money lending companies i.e. make sure that repayment date is okay by you before you think of accepting the loan.
Below are the few ways by which you can make a repayment of your loan.
- ATM card (Make sure that is the same card you used when applying for the loan).
- Bank transfer.
- Cash deposit via the following account details..MyCredit as the account name, Stanbic IBTC is their bank name and their account number is 0023462495.
What you need to do after the Loan has been received
- Use the code on your FairMoney app in your transfer description.
- Send a screenshot of your payment to [email protected] for them to update their system after your repayment.
What makes FairMoney different from other Loan Providers?
Below is the cure difference they have between this particular lending platfrom and other lending platforms.
- Speed of delivery: You can get a loan instantly in 5 minutes, from anywhere in Nigeria.
- Flexibility: You can repay on or before your due date with a reduced interest rate.
- No hidden charges: There interest charges all-inclusive, ensuring transparency.
- The customers are King: There team is trained to treat you with the utmost respect at all times.
Is FairMoney legit?
Well, I do not believe I will be telling you about some loan app I have not had my own personal encounter with and this is just one of many of them
My opinion and with my experience with FairMoney so far, Fairmoney is legit i.e. they do not scam.
Every one of your documents is safe with them both your BVN and some other personal information about you.
Also from the reviews, I read online, I learned that fairMoney is sincerely giving out loans to Nigerians.
Wrapping up on Fairmoney
You might be a student or anything like that a business man, or a family man with a steady source of income of course and you one way or another fell short of cash, I could recommend Fairmoney Loan for am easy dash on funds pending when you get them again for a refund.
This is not one of these loan apps that will tell you they give #30,000 for first application and end up giving only #1000 or even less or a disappointing message of non qualification.
No, at Fairmoney, what you read is what you are getting.