Arvofinance is another loan app in Nigeria where you can obtain instant loan without collateral or paper work.
You don’t need to visit any location before you will obtain loan from this app, all the processing will be down on your smart phone. With this loan app you can obtain up to #1,000,000 loan at a go
What is Arvofinance
Arvofinance is is a loan app develop by Mead investment limited, it is a license loan app so you have noting to worry about.
Requirement to obtain loan from Arvofinance
Before you can obtain loan from this app you need to meet up with some requirement which are
- Have good credit score
- Be above 22 years of age
- Reside in Nigeria
- Have source of income
- Have smart phone with which to download the loan app
Once you meet up with this requirement you can go ahead and apply for the loan
How to apply for Arvofinance 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 Arvofinance
With Arvofinance, you can get up to #1,000,000 at a go, but as a first timer your loan amount will be be around #50,000. As you continue to take loan form this app and pay back on time the amount of loan you can obtain will be increase.
Arvofinance interest rate and repayment period
Arvofinance Interest rate is between 4% to 30% depending on the amount of loan obtain and the repayment period. Their repayment period is between 2 months to 6 months also depend on the amount of loan obtain.
If you are applying for the first time, your interest rate will be high and your repayment period will be short but as you continue to use this app, it will improve.
Repaying your Arvofinance loan
To payback your loan head over to your dashbaord
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 Arvofinance loan legit
Yes, this loan app is legit they will surely give you loan. They are license byy CBN and insured by NDiC so you have notting to fear.
Our final verdict on Arvofinance loan app
Arvofinance loan app is legit they will surely give you loan, as stated above they are license by CBN and insured by NDIC.
They have good review on play store which shows that they are doing something good.
Though this loan app is legit I will advice you to take loan that you know you can pay back to avoid had I know.
Conclusion
Above is how to obtain loan from Arvofinance they have given loan many people in Nigeria so they will certainly give you loan as long as you meet their requirement.
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