Ajax loan app: interest rate, how to apply, is it legit - Startuppreneur

Ajax loan app: interest rate, how to apply, is it legit

Ajax loan will give you instant loan in Nigeria without collateral of paper work, you don’t need to visit any location before you will obtain the loan, with your phone you are good to go.

With ajax loan app you can obtain up to #100,000 at a go. Their loan processing is also fast within 1 hour of submitting application your load will be disburse.


Requirements to obtain loan from ajax loan app

Like many loan app in Nigeria you need to meet up with some requirements before you can apply for ajax loan

  • Have bvn and bank account
  • Have good credit score
  • Have source of income
  • Be above 18 years of age
  • Have smart phone with which to download the loan app

How to apply for ajax 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 loan you can obtain from ajax loan app

With ajax loan app, you can obtain up to #100,000 loan without collateral or paper work.

But as for first timer you will not get up to this, as you continue to take loan from this app your eligible loan amount will be increase.

Ajax loan app interest rate and repayment period

Their interest rate depend on the amount of loan obtain and the repayment period, it is between 5% to 25%.

Their repayment period is between 7 days to 180 days. If you are applying for the first time, your interest rate will be high while your repayment period will be short but as you continue to use the app, this will improve.

Repaying your ajax 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.

Trust me this process is usually time consuming, your best bet is to pay your loan as at when due.

Is ajax loan app legit

Yes this loan app is legit they have given loan to many people in Nigeria. But they are not license by CBN nor insure by NDIC.

Our final verdict on ajax loan app

Ajax loan app will surely give you loan they have given loan to many people in Nigeria.

They do not harass their customer but they surely knelt how to get their money back. Their repayment period is short and their interest rate is high especially for the first timer, also they are not license by CBN so exercise caution when taking loan from this app.


Above is how to obtain loan from ajax loan app, as you have read above they will surely give you loan, but do not take more than you can pay back to avoid had i know.

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