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

FirstNell loan app review: how to apply, interest rate and is it legit

Firstnell loan app will give you instant loan on Nigeria, you don’t need to visit any location, with your phone you will secure the loan. Their loan processing is very fast within hour of submitting application your loan will be disburse.

Requirements to apply for Firstnell loan app

Like other loan app in Nigeria there are requirement you must meet up with before you can apply for loan, these requirements are


Have good credit score

Have bank account and BVN


Be a Nigeria and reside in Nigeria

Have smart phone with which to download the app

Have source of income

How to obtain loan from firstnell loan app

The first step is to 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 do so and proceed

After the registration 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

Click it and wait for disbursement

How much you can obtain from firstnell loan app

With firstnell loan app you can obtain up to #100,000 at a go without collateral or paper work.

As a first timer you might not obtain up to this but as you continue to take loan and pay back on time the amount of loan you can obtain will increase.

Firstnell interest rate and repayment period

Firstnell interest rate depend on the amount of loan obtain.

Their interest rate is between 4% to 10% and their repayment period is between 7 days to 3 month. As a first timer you will have short repayment period and high interest rate this is done to access your competency once you pass, it will change.

Paying back your firstnell loan

To pay back your first Nell loan head over to your dashboard

Locate and click on loan repayment

There you will see methods to payback your loan

Click on one and proceed

Once you make payment it will reflect on your dashboard, if it does not, contact them.

What will happen if you default

If you default you might be punish by increase in interest rate and if you decide not to pay back at all they might send your name, bvn and other details to credit bureau for blacklisting which means you will not be able to take loan again in Nigeria until you pay back your loan

Is Firstnell loan legit

Yes, they are legit, they have given loan to many people in Nigeria. They claim they are license by CBN but I don’t think so, I will advice you to exercise caution when taking loan from them, do not take loan that you can not payback.

Our verdict on firstnell loan app

First Nell loan app will surely give you loan in Nigeria but be careful, there are numerous complain about this loan app; they auto debit people even after they have pay back. Take caution when taking loan from them.


Address: Trans amadi industrial layout of community secondary school road, Port Harcourt, Nigeria

E-mail: [email protected]

Mobile: +234 8056294848


If you hate embarrassment do not take loan that you can not payback. Firstnell will surely give you loan but if you default they might take action that you will not like.

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