Gomoney loan: interest rate how to apply and is it legit - Startuppreneur

Gomoney loan: interest rate how to apply and is it legit

Gomoney is an online banking app. With this app you can make payment and receive money from people. Apart from payment processing they also offer instant loan to their customer. You don’t need collateral nor paper work to obtain this loan with your phone you are good to go.

Their loan processing is very fast but you will need to have account with the them and use the app for sometimes before you will qualify to obtain loan


Requirement to obtain loan from Go money loan app

Be a Nigeria and reside in Nigeria

You need to provide government issued I D card


Have source of income

Have smart phone with which to download the app

Have good credit score

How to obtain loan from gomoney

The first step is to head over to playstore and download gomoney loan app


Register with your name, bvn, and other details

After the registration you will be login to your dashboard

Make payment and receive money with the app

Locate and click on loan

There you will see amount of loan you are eligible to obtain

Click on this loan and wait for disbursement

How much you can obtain from gomoney

It depend on your credit score, you can obtain up to #500,000 at a go without collateral or paper work.

Gomoney interest rate and repayment period

Gomoney interest rate also depend on the credit score and the amount of loan obtain. It is between 5% to 10%. Their repayment period is between 1 month to 6 months.

Paying back your gononey loan

To pay back your loan, head over to your dashboard

Locate and click on loan

There you will see method to pay back your loan

Once you make payment it will reflect on your dashboard

What will happen if I default

If you default you will be punish by increase in your interest rate and if you decide lot to pay back at all, your name and bvn will be send to credit bureau for black listing which means you will not be able to obtain loan any where in Nigeria until you settle your debt and clear your name with credit bureau.

Believe me it is hard to clear your name, try as much as possible not to default

Is gomoney loan legit

Yes, gomoney loan is legit, they will give instant loan but take caution when dealing with them, do not take loan that you can not pay back.

Our verdict on gomoney

Gomoney loan app is one of the legit loan app in Nigeria, they will surely give you loan. They have good review and things on play store which shows that they are doing something right.


Though gomoney give out loan to people in Nigeria, I will advice you to take loan that you can pay back to avoid had i know
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