MoneyPal Instant Loan App Review, requirements and how to apply

With MoneyPal, you can get quick loans up the to sum NGN5million at amazing interest rates just in a few clicks.

The information provided in this article concerning this app is based on information available from the owners of the app.

MoneyPal is a retail lending app owned and operated by Zedvance Finance Limited that offers collateral-free loans of up to N5million with no hidden charges. With MoneyPal, you can quickly and easily access loans ranging from N1,500 to N5,000,000.

At Zedvance, they are committed to providing their customers with transparent and fair lending services. Their loans are designed to help you achieve your financial goals and are tailored to your specific needs. With MoneyPal, you can access collateral-free loans quickly and easily, without any paperwork or collateral.

 

Features Of MoneyPal Loan

Listed below are the main features of MoneyPal Loan as regards LOAN AMOUNTS, INTEREST RATES, AND REPAYMENT PERIOD:

1. Loan Amounts: The MoneyPal app offers loans ranging from a minimum of N1,500 to a maximum of N5,000,000

2. Interest Rate: Daily interest rates range from 0.5% to 1.4% for lower ticket loans and monthly interest of 3-4% for higher ticket loans (150,000 to 5,000,000).

3. Repayment Period: The minimum repayment period is 61 days, and the maximum repayment period is 365 days.

4. Annual Interest Rate: The maximum Annual Percentage Rate (APR), which includes interest rate plus fees and other costs for a year for lower ticket loans (1,500 to 100,000) is 365% and for higher ticket loans (150,000 to 5,000,000) is 57.24%

 

Example:

MoneyPal loan of N100,000 for 3 months

Interest: (0.5% daily *

90 days) = N45,000

Total payable amount: N100,000 + N45,000 = N145,000

Number of installments = 3

Repayment per instalment: N145,000/3 = N48,333.33

 

Note: The representative example above includes the principal, interest, and all applicable fees. Actual loan amounts, interest rates, and repayment periods may vary based on the borrower’s creditworthiness, income, and other factors.

Data Security with MoneyPal Loan App

Zedvance Finance Limited, the owner and operator of the MoneyPal app, is committed to protecting your privacy and ensuring the security of your personal information. To provide you with the best services and improve security, the MoneyPal app requires access to your location. However, they do not require access to your photos or contact list.

Zedvance may obtain information about you from third-party financial services to determine your eligibility for their loans. They store your personally identifiable information (PII) with topmost security and are NDPR compliant with approval from 2022. Their complete privacy policy is available at https://zedvance.com/privacy-policy.

 

How To Apply For And Get MoneyPal Loan

To get started, simply follow the steps below:

1. Download the app from Google play store.

2. Create an account using the phone number linked to your BVN,

3. Apply for your preferred loan amount.

Their loan application process is simple and straightforward, and you can get approval within minutes. Download MoneyPal today and experience the convenience of accessing loans on the go!”

Feedbacks From Customers Of MoneyPal Loan

Many customers of MoneyPal loan app who have used the app comment that it is quite good and worked well for them.

However some Customers of MoneyPal complain that the app sometimes malfunctions making it difficult for them to link their bank accounts  or perform other actions in the loan process.

Contact Details Of MoneyPal

For more information, complaints or other issues, do well to contact MoneyPal using the following email address:

[email protected]

 

In conclusion, the above information about MoneyPal Instant loan app is provided to assist you when you have need for loan to enable  you weigh this against other options open to you so as to take an informed decision.

 

Equally note that our website, growfinance, neither gives loans nor promotes any loan app over the other but merely gives information to the public based on information available from app owners

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