Add money is a another loan app in Nigeria, where you can obtain instant loan without collateral or paper work. You don’t need to leave your location before you will obtain this this loan, with your phone you are good to go.
With add money loan app, you can obtain up to #500,000 loan at a go. Their loan precessing is very fast, once your application is successful you will be credited in five minutes time.
Requirement to obtain loan from add money loan app
Below are the requirement you need to meet up with before you can obtain loan from this app
Have bvn and bank account
Have good credit score
Have source of income
Be above 18 years of age
Reside in Nigeria
Have smart phone with which to download the loan app
Once you meet up with the above requirement you can go ahead and apply for the loan
How to apply for add money loan
The first step to take is to head over to play store and download the loan app
Register with your name, bvn and other details
You will be ask to bind your ATM card which might attract #30 fee, do so and proceed
Once you are done with registration you will be login to your account
On your dashboard locate and click on loan
There you will see amount of loan you are eligible to obtain
Click it and wait for disbursement
How much you can obtain from add money loan app
Add money loan app is a big fish, with this loan app you can obtain up to #500,000 loan with out collateral or paper work.
If you are a first timer you will not be able to obtain up to this, you eligible loan might not be more than #50,00 but as you continue to use the app. This will increase.
Add money loan app interest rate and repayment period
Their interest rate is between 5% to 15% depending on the amount of loan secure and repayment period.
Their repayment period is between 90 days to 180 days, also depend on the amount of loan secure.
As a first timer you will receive high interest rate and short repayment period but as you continue to use the app, this will improve.
Paying back your add money loan
To payback your loan head over to your dashboard
Click on loan repayment
There you will see deferent option to pay back your loan
Click on one and make payment
Once you make payment it will reflect on your dashboard
If it does not you should contact them.
What will happen if I default or refuse to pay back
If you default you will be punish by Increase in your loan Interest rate which might be up to 2%.
If you abscond, your name and bvn will be send to credit bureau for blacklisting which means you will not be able to obtain loan again in Nigeria until you pay back and clear your name with credit bureau.
Is add money loan app legit
Yes add money loan app is legit, they will surely give you loan, but they are not license by CBN yet nor insure by NDIC.
Our final verdict on add money loan app
Add money loan app will surely give you loan in Nigeria, they are legit. They have good review on play store, though this might be due to low number of reviewer.
They do not send defamatory message to their defaulter’s contacts, but that does not mean you should take more than you can pay back.
The only problem with this loan is that it is not license by CBN so exercise caution when taking loam from this loan app
Contacts
Email：[email protected]
Contact number：+234 9133950663
Company name ：ROCK FINANCIALS LIMITED
Company address：2nd Floor, 13, King
Conclusion
Above is how to obtain loan from add money loan app, as by you have read above they will surely give you you loan, but take loan that you know you can pay back, to avid had I know. To much of loan is bad.
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