Faimony is one of the loan company in Nigeria that give quick loan to people. Though their main target is personal loan they also give out loan to business in Nigeria and you know what the loan is collateral free and required no guarantor.
Fairmoney was founded in 2018 to help out people that need to offset some emergency bill with loan. Since their inception have given out loan to many people and as at the time of writing this article they disburse loan to more than 1000 people per day isnt that good.
Their loan if very fast and you can have access to loan of #150,000 and their interest rate depends on the amount of loan taking.
Though this article is about how to apply for a loan with Fairmoney, we also touch other things like their contacts, loan requirement and payback period in short you can call this a review.
Fair money loan requirement
Before you can access a loan from Fairmoney you need to meet up with their requirement don’t fret they dont demand much it is something you already have
- Your name, valid email address and other personal information
- Bank verification number
- Bank account number
- Your ATM card
- Your photograph
- Phone and internet connection
- Fair money app, you can download it on play store.
How do I apply for Fairmoney loan
They first step is to head over to play store and download fair money app, if you are iPhone user you won’t be able to download it because it is not yet available on app store.
You can click here to download the app
After you download the app, the next thing is to sign up , to make it seamless you can sign up with your Facebook.
After the sign up you will be ask some question, these questions are some of the factor that will determine your credit score and amount of loan you can take.
Once you answer the question you will be given a loan offer accept it and your account will be credited, if out did not see any offer that means they did not consider you worthy of their loan you can apply again after 15 days .
How much loan can you get with Faimoney
Though amount you can get depend on your credit score, the minimum is #1500 and maximum is #150,000 at a go. The more you take their loan and pay back on time the more the amount of loan you can access.
How long does Fairmoney take to disburse loan
Once your account is approved, click on the on the loan offer your account will be credited within 5 minutes
Fairmoney interest rate
Faimoney interest rate ranges from 5% to 30% droning on the amount of loan and the payback time. The amount ranges from 4 weeks to 24 weeks
Repaying your fairmoney loan
There are many ways to pay back your loan you can pay back with your credit card or with bank transfer or with bank deposit.
Paying with credit card can be frustrating sometime that is why many people use bank transfer.
Before using bank transfer or deposit make sure you contact them before and after the transaction. Below is the Fairmoney official bank account
Account Name: MyCredit
Bank Name: Stanbic IBTC
Account Number: 0023462495.
28 Pade Odanye close, off Adeniyi Jones, Ikeja, Lagos, Nigeria (No money in the office, everything is digital)
01 7001276 / 01 8885577