Foundone loan app is where you can obtain up to #100,000 loan with out collateral or paper work.
With this loan app you don’t need to visit any location with your smart phone you are good to go. Their loan processing is very fast, once your application is successful your loan loan will be disburse in minutes
Requirement to obtain loan from Foundone loan app
With Foundone loan app you need to meet up with some requirement before you can obtain loan from this app, these requirements are
- Have bvn and bank account
- Be above 18 years of age
- Reside in Nigeria
- Have good source of income
- Have smart phone with which to obtain the loan
Once you meet up with this requirement you can go ahead and apply for the loan
How to apply for Foundone loan 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 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 Foundone loan app
With this loan app you can obtain up to #100,000 loan without collateral or paper work.
If you are applying for the first time you will not get up to this but as you continue to use the app, the amount of loan you can obtain form them will be Increase.
Foundone loan app interest rate and repayment period
Their interest rate is between 5% to 20% depending on the amount of loan obtain and the repayment period. Their repayment period is between 7 days to 180 days all depend on the amount of loan obtain.
If you are applying for the first time you will be given high interest rate and short repayment period but as you continue to use the app, it will improve.
Paying back your Foundone loan
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 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 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 foundone loan app legit
Yes, this loan app is legit, they will surely give you loan but they are not license by CBN nor insure by NDIC.
Our final verdict on Foundone loan app
Foundone loan app is legit, they will surely give you loan, many people have receive loan from them.
Their loan processing is very fast within minute of submitting application your loan will be disburse. They do not harass their defaulters so you have noting to be afraid of, but they surely know how to get their money back.
They are not license by CBN nor insured by NDIC and this is a red flag. I will advice you to exercise caution when dealing with this loan app.
Foundone loan contact
Mobile: +234 09120180506.
Foundone loan app will surely give you loan but only take loan that you know you can pay back to avoid embarrassment and had I know.
Do you like this article?
Feel free to share it