Bear wallet loan app will give you instant loan in Nigeria without collateral or paper work, you done need to visit any location before you will obtain this loan, with your smart phone you are good to go. With Bear wallet loan all you can obtain up to #500,000 loan at a go.
Requirements to obtain loan from Bear wallet
Below are the requirement you need to meet up with before you can obtain loan from this loan app
Have good credit score.
Reside in Nigeria
Be above 18 years of age
Have bank account and bvn
Have source of income
Have smart phone with which to download the app
How to apply for Bear wallet loan
To apply for Bearwallet loan, 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 registrations you will be login to your dashboard
On your dashboard locate and click on loan
There you will see amount of loan you are eligible to obtain
Take the offer and wait for disbursement
How much you can obtain from Bear Wallet loan app
With Bear wallet you can obtain up to #500,000 without collateral or paper work, as a first timer you will not be able to pay up to this but as you continue to use the app, this will increase.
Bear wallet loan interest rate and repayment period
Bear wallet interest rate is between 10% to 15% depending on the amount of loan secure. Their repayment period is between 7 days to 90 days.
If you are a first timer your interest rate will be high while your repayment period will be short. As you continue to use the app this will improve.
Paying back your Bear wallet loan
To pay back your loan head over to your dashboard
Locate and click on loan repayment
There you will see deferent options to pay back your loan
Click one and make your 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 with increase in your loan interest rate and if you decide not to pay back at all your name, bvn and other details will be sent to credit bureau for black listing.
Which means you will not be able to take loan again in Nigeria until you pay back your loan and clear your name with credit bureau
Is Bear wallet loan legit
Yes, Bear wallet loan is legit, they do give out loan to people in Nigeria, but they are not licence by CBN nor insure by NDIC
Our verdict on Bear wallet loan app
Bear wallet loan app will surely give you loan. They have both positive and negative reviews on play store. Before obtaining the loan from this loan app you need to pay service fee of #8 which is not much.
The only problem they have is that they are not license by CBN so exercise caution when taking loam from this loan app.
Above is how to obtain loan from Bear wallet loan app, as you can see they will surely give you loan but do no take more than you can pay back to avoid had I know and embarrassment.
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