FairMoney is one of the quickest loan apps in Nigeria. It gives its users a simple, stress-free way to lend money.
Launched at the beginning of March 2018, the online lending company boast of over 1,500 loans to Nigerians every day.
Prior to launching, FairMoney was able to provide the financial support that thousands of Nigerians and Nigerian businesses needed to take a little step toward their goals. Despite the realities of their condition, they have made it feasible for individuals and small enterprises to prosper.
This loan platform offers you an alternative method of borrowing money in Nigeria, and it does it without requiring any type of security. With FairMoney Loan, you can obtain an immediate loan of up to ₦1,000,000 without having to go through stress. It would take no more than five minutes to complete the loan application process and get the credit alert.
FairMoney Loan App
The app uses the power of contemporary technology to assist you in gaining access to essential and emergency funds. The platform is fast, dependable, secure, and most importantly, free!
It is an Android banking app that makes applying for loans and paying payments incredibly quick and simple.
How much and how long can I borrow money from FairMoney?
Get loans up to ₦1 million, a bank account with free transfers, a debit card for spending, and more
Loan amounts range between ₦1,500 to ₦1,000,000 with repayment periods from 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%)
An example of a FairMoney loan:
Assuming you borrow ₦100,000 over 3 months
The Interest (total cost of the loan): ₦30,000 (30% rate)
Monthly repayments for 3 months: ₦43,333
Total amount payable: ₦130,000
Representative: 120% APR
FairMoney Loan Requirements
A FairMoney loan can be obtained without many requirements. Your loan will be processed after you simply sign up on the app. Without stringent due diligence procedures like documentation and collateral, you can easily qualify for a FairMoney loan.
How to Apply for a FairMoney Loan
To obtain a loan from FairMoney, adhere to the steps listed below:
- Get the Android app from the Google Play Store.
- Use your phone number or Facebook profile to register or log in.
- If you’re a new user, create a profile. If you’re an existing user, you can directly apply for a loan.
- Get money credited to your bank account within a short period of time.
Customer happiness and experience are very important to FairMoney. To this end, they recently released a brand-new software that does this flawlessly. The app announces its next stage of growth as the simplest approach to obtain a loan in Nigeria and is simple to use and dependable.
These actions can’t be flawed. It improves FairMoney so that everyone in Nigeria can utilize its services.
What is FairMoney Loan Interest Rate?
The interest rate on a fair money loan ranges from 2.5 to 30 per cent ((APRs from 30% to 260%)). However, it’s crucial to remember that the interest rate determined by the Fairmoney lending app is based on its historical performance.
FairMoney Loan Repayment
It is crucial that you pay back any money you have borrowed or collected through FairMoney on the specified date. Actually, Fairmoney isn’t flexible in that regard.
If not, you will likely start to accumulate charges. By providing you with these two repayment options below, the Fairmoney loan app has made it possible for you to pay back your Fairmoney loan.
How to Download Fairmoney Loan App
The fair money lending app is accessible on the Google Play Store and the App Store for Android smartphones.
iOS gadgets This indicates that you may now download the Fairmoney app for both Android and iPhone.
The methods for downloading and installing the Fairmoney loan app are listed below. If you want to download the fair money app for your Android device, this procedure will also work.
How to Download Fairmoney App on Android
- Go to the play store
- Search for “fair money loan app” online.
- If you have the app installed it will show an update button on the Fairmoney lending app page.
- If you haven’t downloaded the Fairmoney lending app yet, it will show install, which you can then click.
- On your Android smartphone, the Fairmoney lending app will be successfully downloaded.
How to Download FairMoney App On iPhone
The Fairmoney app download process on an iPhone is very similar to that on an Android device. You must be aware that there are minor differences between downloading an iPhone app and an Android app. See the steps below to download the Fairmoney loan app for your iPhone. These instructions will also assist you in installing the loan app:
- visit the app store
- Look up the Fairmoney loan app and click on it.
- If you want to update the Fairmoney lending app, click on update.
- Install the Fairmoney Loan App if you haven’t previously downloaded it.
Note: Fairmoney web software is currently only compatible with Android or iPhone smartphones.
FairMoney Loan Sign Up
If you want to use the FairMoney rapid lending app to apply for a loan, you must first register or create an account. The steps for setting up an account on the Fairmoney Loan App are listed below:
To begin with, there are two ways to register for the FairMoney lending app:
- Using Facebook
- Through telephone
Note: The phone number must match the one on your BVN else you will only be able to sign up for FairMoney using Facebook.
Using Phone Number
The methods to complete a FairMoney loan app sign-up using a phone number are listed below:
- Activate the Fairmoney Loan App
- Select Create Account.
- On the electronic form that is displayed to you on the FairMoney loan app, enter your personal information.
- Select “Submit”
- Make sure all the information is accurate because it will be necessary for your FairMoney loan app login.
Making Use of Your Facebook Account
It’s quite easy to register for a Fairmoney Loan App account using your Facebook account. There would no longer be any additional information required when making an account on Fairmoney using your Facebook account if you already have an active Facebook account. The Fairmoney app will take your Facebook information and use it to create your Fairmoney account once you decide to create it using your Facebook account; you won’t need to do anything else.
FairMoney Loan App Login Information
Logging into your Fairmoney instant loan account is as easy as signing up for the Fairmoney loan app.
You must take the following actions:
- Activate the Fairmoney Loan App
- Select Login.
- Type in your contact information, including your phone number and password.
- Select “Login”.
- Verify the phone number you entered when you completed your Fairmoney.
For more information, visit the official page of the FairMoney Loan App.