One of the yardstick to measure economy progress in a society is the easy access to finance either for business purpose or personal thanks to tech development, there are now many loan company or app that will give you loan instantly in Nigeria, one of this loan app is I money loan.
I money loan want to make live easier for Nigeria by providing instant loan, you can get their loan with just a tap on your phone and you know what their interest rate and pay back period is affordable, this will be explained further in the next section.
You can get a loan of up to #500,000 with lmoney loan app but as a first timer you won’t be able to access this kind of money. It’s a gradual process once you pay back regularly the amount you can access will increase.
Imoney loan requirements
Like other genuine loan app in Nigeria, lmoney also have some requirement you need to meet before you can get a loan from them. You don’t need to fret they are things you already have.
You must be a citizen of Nigeria and recide in Nigeria
You should have a mobile phone
You should have bank account
You should be above 18 years of age
Bank verification number
Imoney interest rate and pay back period
Lmoney interest rate depend on the payback period and the amount of loan taken but usually it is between 12% to 36% and their payback period is between 3 months to 6 months.
How to get a loan form lmoney
To get a loan from lmoney is easy they are quick to approve loan application. As long as you have not defaulted on any loan before, your loan will be approve.
Download lmoney loan app on play store. As at the time of writing this article lmoney is only available to android user.
Once you download the app, launch it and sign up
Fill your correct details such as bvn, income per month, name, address, phone number and others.
On the app you will see deferent tab, navigate to loan tab and click on it
It will prompt you to fill your bank details, amount you want to loan and the pay back period. The length of the payback period and amount you loan will determine your interest rate.
Imoney loan repayment
On lmoney you have various way to pay back your loan, you can even pay in advance, this will quicken your process for another loan. You can pay back on your phone through your bank or use a credit card.
You can do this by login to the app
Click on loan repayment
It will show you deferent method to pay back your loan
Chose a method and click on repay now.
Imoney address and contact
Sapetro Towers 1, Adeola Odeku Street, VICTORIA Island in Lagos, Nigeria.
Email address: [email protected]
Is lmoney loan app legit
Currently lmoney loan is legit there are numerous people who have gotten loan from them, they have 4.3 star rating on play store which further proof that they know what they are doing but that doesn’t mean they can not go bad tomorrow.
There has been cases of loan app that was doing right and suddenly change, my advice is that get loan you can pay back from them to avoid embarrassment.
Though they have not been calling out people names on the internet but that doesn’t means they can’t do it if they become desperate.
Above is an article about lmoney loan, it is short because lmoney has not become a household loan brand at the time of writing this article, we will continue to update the article, if there is any information about lmoney that you need to know.
Again, I will advice you to take loan you can pay back.
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