Deloan is another loan app in Nigeria that give out quick loan with out collateral. They have given loan many people in Nigeria.
You don’t need to visit any location before you will obtain this loan, all the processing will be done on your smart phone.
With deloan app you can obtain up to #100,000 loan without collateral or paper work. Their loan processing is very also hustle free.
Requirement to get loan from deloan app
Below are the requirements you eed to meet up with before you can obtain loan from this app
- Have good credit score
- Have bvn and bank account
- Be above 18 years of age
- Have regular source of income
- Have smart phone with which to download the loan app
Once you meet up with this requirements, you can go ahead and apply for the loan
How to apply for deloan app
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 dash 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 delaon app
With deloan app, you can obtain up to #100,000 loan without collateral or paper work. As a first timer you will not get up to this but as you continue to use the app your loan limit will be increased.
Deloan app Interest rate and repayment period
Deloan app interest rate is between 5% to 25% depending on the amount of loan obtain and the repayment period. As a first timer you will be given high interest rate while your repayment period will be short. As you continue to use the loan app this will improve.
How to pay back your deloan
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 wil 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 deloan app legit
Yes, this loan app is legit. If it is to give loan deloan app will surely give you loan. But they are not license by CBN nor insure by NDIC.
Our final verdict on deloan app
Deloan app will surely give you loan, They have good review on play store which is a good thing. They do not send defamatory message to their defaulter’s contact which is another good thing. Their loan processing is very fast within one hour of submitting application your loan will be disburse.
Since they are not license by CBN nor insure by NDIC you need to exercise caution when applying for loan on this app.
Above is how to obtain loan from Deloan app, as you have read above, deloan app is legit, they have given loan to many people in Nigeria but take loan that you know you can pay back to avoid had I know.
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