NairaMax loan app provides loan for people in urgent need of money up the sum NGN150,000 to attend to their needs.
The information provided in this article concerning this NairaMax loan app is based on information available from the owners of the app and in no way represents the opinion of growfinance and it’s authors.
Need a loan to take care of urgent or long term needs? Need money for accommodation, education, business expansion, mobility, or for professional courses? Try NairaMax, and get access to do more!
Legitimacy Of NairaMax Loan App
The Federal competition and consumer protection commission (FCCPC) is a Nigerian Federal Government Commission aimed at protecting consumers including loan product consumets from unfair business practices. FCCPC as part of it’s mandates has approved some loan apps. Access the full list in the FCCPC website to get details directly
Availability Of NairaMax
The app is available to serve customers in Nigeria only.
How to Apply For And Get NairaMax Loan
If you live in Nigeria, need quick cash to settle emergencies, and have an smart phone, all you have to do is following the steps below:
Step 1: Download Naira Max app from Google play store;
Step 2: Register with Nigeria mobile number;
Step 3: Fill in your basic info and memberships;
Step 4: Submit your application and wait for the review.
If you are not eligible, you may apply again.
Benefits Of NairaMax Loan
1. No collateral or guarantor needed;
2. Easy & simple to submit a loan application;
3. NairaMax is carried by Trustrock Fintech Nigeria Limited licensed and approved to carry on FCCPC.
Requirements To Apply For And Get NairaMax Loan
To qualify for and get NairaMax Loan, you must meet the following basic eligibility criteria:
1. You must be at least 20 years of age.
2.They may require that you provide a valid Government ID.
3. You must have a phone number for registration.
Features Of NairaMax Loan
1. Loan amount: ₦5,000~₦150,000
2. The loan term can be between 91 to 365 days.
3. Interest rates with a range of 0.056% to 0.096% per day.
4.Maximum annual interest rate APR: 20.44%~35.04%
Loan Example:
If your approved loan amount is ₦10,000 and charge 0.06% daily interest rate, the repayment term is 180 days. The calculation is as below:
Loan Principal: ₦10,000
Total Interest: ₦1,080 = ₦10,000 * 0.06% * 180
Total Amount Payable: ₦11,080 = ₦10,000 + ₦1,080
Monthly Repayment: ₦1,846.66 = ₦11,080 / 6
APR: 21.9%
NairaMax Privacy & Permissions
They take privacy seriously – all data you choose to share with them is encrypted and your personal information will never be shared without your consent.
NairaMax is committed to the provision of financial services at affordable rates to low-income and middle-income people with limited access to a formal banking system.
Reviews From Customers Of NairaMax Loan
Many customers of NairaMax who have accessed the loan via the app comment that it works well and fast. They are happy with the service.
However, some Customers of NairaMax are unhappy with the app for not succeeding in getting the loan they needed through it.
For a detailed individual reviews from Customers of NairaMax, go to Google play store.
Contact Details Of NairaMax
They would love to hear from you! So you may contact them via:
Email: [email protected]
In conclusion, the above information about NairaMax loan app is provided to assist you when you have need for online loan to enable you weigh this against other options open to you so as to take an informed decision. We equally advise that you check up our posts on risks associated with online loans, savings and transactions.
Equally note that our website, growfinance, neither provides loans and other banking services nor promotes any app over the other but merely gives information to the public based on information available from app owners such as the owners of this NairaMax app.
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