Formoney loan app is an online personal and safe loan service app in Nigeria. It gives fast loan approval to customers who are interested and who meet their requirements.
Formoney loan app offers loan of up to ₦100,000 to customers who apply for instant cash. So far, Formoney loan app has many positive reviews on playstore and many people have borrowed money from the loan app too. Infact, with just some few steps that I will show you in this article, you can get quick loan from formoney.
Before we start we the application steps, let’s look at some of the features of this loan app.
Loan amount
This loan app offers cash from ₦10,000 to ₦100,000.
Loan term
The loan period ranges from 91days to 365days. After which you are expected to repay
With this loan app, you can get easy and safe loan. They promise never to give out your information to any body or any 3rd party.
Note: make sure you are not owing any other loan app or financial institution before taking a loan from formoney, because it will be rejected.
You can also increase your credit limit or score as you payback you loan in time without any hitches.
Formoney loan interest rate
APRs from 12% to 24%(per year). This also means 1% to 2% per month.
Example:
If the loan amount is NGN5,000, the loan term is 180days, and the interest rate is 12%, the total interest should be NGN5,000*12%= NGN600.
The total repayment amount would be NGN5,000+ NGN5,000*12%= NGN5,600.
How to apply for formoney loan
1. Download Formoney Loan app from Google play store
2. Register an account with phone number.
3. Fill out basic information and submit loan application.
4. Receive your loan straight into your bank account.
Application requirements
1. Must be a Nigeria resident.
2. Must be between 18-60 years old.
3. Must have active phone number
4. Must have an Android phone with stable internet connection
5. Must possess valid documentation
Formoney customer care service
Formoney customer care is available 24*7 to assist you with your request. If you have any questions, feedback or enquiry, you can contact them through the details below:
• Service Email: [email protected]
• Office Address: 1B 8 Cowbell Way, Ilasamaja 102214, Lagos, Nigeria