Gone are the days of lengthy paperwork and endless queues at banks for loans. In the digital age, financial empowerment is just a tap away. And here is what the Nairaplus loan app provides. In this article, we will delve quickly into the authenticity and mechanism of the loan app.
NairaPlus Loan App Review
The NairaPlus loan app is highly rated on the Google Play Store, with over 500,000 downloads, a 4.5-star rating, and 17,000 user reviews. Its user-friendly interface makes it easy to navigate, and the app only requires 12 MB of storage space to download. With the loan app, users can borrow up to NGN50,000, although first-time users may have a lower borrowing limit.
Being prompt in loan repayments, using the app frequently, and adhering to the terms and conditions can increase the user’s credit limit. NairaPlus is a legitimate financial technology platform that offers digital loans without collateral or property papers. Although the platform is facing some challenges, it is still worth considering.
Is NairaPlus Loan App Legit?
Based on research, NairaPlus appears to be a legitimate loan app. It is one of the quick loan apps on Google play store. Although, the platform is currently having some issues which are expected to be resolved in no time.
What is the Interest Rate for Nairaplus Loan?
They offer relatively low-interest rates, with yearly rates ranging from 16% to 21%. For example, if you borrow ₦1,000 through the app and set a repayment term of six months, the monthly interest rate will be 1.3% (7.9% over six months). This means the interest amount will be ₦79, and the total amount to be repaid will be ₦1,079.
Nairaplus Loan Defaulters
If you fail to make timely loan repayments on the app, the lender may take legal action to collect the outstanding amount. This could involve measures such as wage garnishment or bank account levies, depending on the loan agreement and local laws.
Additionally, Nairaplus has access to various permissions on your device, including contact, location, SMS, phone, photos, media, files, storage, WiFi connection, device ID, and call information.
It is essential to fulfilling your loan obligations, as failure to repay may lead to us contacting your contacts, posting on social media, and potentially pursuing legal action. Interest may continue to accrue based on the terms of the loan default agreement, with some lenders charging an additional 1.5% per day.
NairaPlus Loan App Download
To download the app, you need at least 12 MB of storage space.
However, please note that this app is currently only available for Android users and not accessible for iOS users.
You can download the app from the Google Play Store by searching for “Nairaplus loan app” in the search box and clicking on “install.”
Who is the owner of NairaPlus?
The ICIR found out that the loan apps, CashLion, including LCash, were all co-owned by Grola Tech Credit Limited, after tracking its debt collection team leader via a LinkedIn post.
Customer Care
If you have any questions and need clarification on some financial issues or you want to make loan repayments, you can reach out to their platform using the following contact information.
Head Office: Lekki, Lagos, Nigeria
WhatsApp: +2347030919031
Conclusion
If you’re looking for a hassle-free and quick way to borrow money then NairaPlus is your go-to app. With just a few taps on your phone, you can access quick funds for your personal or business needs. However, it is crucial to remember that timely repayment is essential to avoid any potential consequences.