Borome loan app review: is it legit, interest rate and how to apply - Startuppreneur
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Borome loan app review: is it legit, interest rate and how to apply

Borome will borrow you instant loan in Nigeria. Their loan processing is very fast within dive minute of successful aolicagion your koa with be disviuree. With Borome loan app you can obtain up to #100,000 loan without collateral or guarantor.

Requirement to obtain loan from borome loan app

Below are the requirement you need to meet up with before you can apply for borome loan

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Have source of income

Have bank account and bvn

Be above 18 years of age

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Have good credit score

Have smart phone with which to download the loan app

How to apply for Borome loan

To apply for borome loan app head over to play store and download the app

Register with your name, bvn and other details

After the registration you will be login to your dashboard

On your dashboard, 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 borome loan app

With Borome loan you can obtain up to #100,000 at a go with out collateral or guarantor.

But as a first timer the amount of loan you will be eligible to obtain will be less than this. You need to prove yourself by taking loan and paying back when due.

Borome loan interest rate and repayments period

Borome loan interest rate is between 10% to 15% depending on the amount of loan secure. The repayment period is between 7 days to 3 months.

As a first timer your interest rate will be high and your repayment period will be short, but as you continue to use the app this will improve.

Paying back your borome loan

You can pay back your loan through ATM card or ask for their account number. When paying back though account number ensure you have the correct account number to avoid story that touch.

Head over to your dashboard

Locate and click on loan repayment

There you will see deferent option to pay back

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

If you default you will be punish with increase in your interest rate. If you decide not to pay back at all they might send your name to credit bureau for black listing which means you will not be able to take loan again in Nigeria until you settle your debt and clear your name with credit bureau.

Is Borome loan app legit

Yes, it is legit they do give out loan to people but they are not license by CBN nor insured by NDIC

Our verdict on borome loan app

Borome loan app is legit, they will surely give you loan, but since they are not license by CBN, I will advice you to exercise caution when taking loan from them. Do not take loan that you can not payback to avoid embarrassment

Conclusion

As you can see Borome loan app will give you instant loan. The only problem with them is that you are not license by CBN which means that if any things goes wrong it will take time for CBN to interfere.

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