Do you have accommodation problem, looking for loan to help pay house rent? Then worry no more as Monthly NG is there to help you. As long as you are in Lagos and have a job where you earn not less than NGN50,000, you can have access to Monthly NG rent loan up the sum of NGN5MILLION to pay your rent now and pay back later.
The information provided in this article concerning this app is based on information available from the owners of the app.
Rent Now Pay Later – Up to ₦5m in 24 hours
Requirements To Apply For And Get Monthly NG Loan
To apply for and get Monthly NG rent loan, you must meet the following basic eligibility criteria:
1. You must be aged 18 years or over
2. Your earning must be at least ₦50,000 a month
3. You must be Living & Renting in Lagos, Nigeria
Features/Benefits Of Monthly NG Rent Loan
1. Pay Bulk Rent Now and pay back monthly
Monthly NG helps you by paying your landlord and allowing you pay them back…monthly. Other benefits include Easy-access, zero – collateral, financing with a fixed monthly interest rate tailor-made for YOU and your pockets
2. Get Pre-approved in 24 hours
Sign up and enter your information to help them get to know you and your unique financial situation. Let them know how much you need and how long you want to pay back for. Get a verdict in just 24 hours.
3. Lowest Interest Rates
The faster you pay back, the cheaper it is. Interest on your rent financing is calculated on your balance remaining as opposed to your total initial finance amount.
4 Zero Collateral, Zero Cosigner
You do not need to submit any form of collateral or need to have a guarantor or cosigner.
5. Zero Harassment
They will never compromise your dignity or privacy. They understand life happenings and sometimes you can’t make payments exactly when you want to. They will never harass your colleagues or family.
6. Make payments through the app
Simply open the app to easily make payments when due or earlier through direct pay or to notify them when you’ve made a bank transfer.
7. Payment Period
Minimumrepayment period is 4 months.
Maximum repayment period is 12 months.
8. Interest Rate
Minimum annual percentage rate (APR) is 20.5%.
Maximum annual percentage rate (APR) is 62.6%.
Rate depends on personal circumstances.
For information on their private policy visit:
Loan amount: ₦500,000
Tenure: 12 months
Monthly repayment: ₦51,741.97
Total repayment: ₦620,903.64
One time fee: ₦20,000
Total cost: ₦140,903.64 (28.18%)
To get started simply download the app and proceed with the process.
Feedbacks From Customers Of Monthly NG
Many customers of Monthly NG who have used the app to access rent loan comment that it works well. They are also happy with the polite approach of the Customer Service officers.
Some Customers of Monthly NG however complain about delays in the registration process caused by the malfunctioning of the app giving problems in uploading bank statements.
In conclusion, the above information about Monthly NG rent 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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