Lairaplus (Laura plus) loan app review: interest rate, how to apply, is it legit

Lairaplus loan is another loan app in Nigeria that will give you instant loan without collateral or paper work, their loan processing is fast, once your application is successful your account will be credited in minutes.

You don’t need collateral or guarantor to obtain this loan, with your phone you are good to go

Requirement to obtain lairaplus loan

Below are the requirement you need to meet up with before you can obtain this loan

Have bank account

Have source of income

Reside in Nigeria

Have good credit score

Have smart phone with which to download the loan app

How to apply for lairaplus loan app

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

Register with your name, bvn and other details

You will be ask to bind your ATM card which might cost you #30, do so and proceed

Once you are through with the registration you will be logging to your dashboard

On your dashboard locate and click on loan

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

Take the loan offer and wait for disbursement

How much you can obtain from lairaplus loan app

With Laura plus loan app you can obtain up to #100,000 loan without collateral or paper work, but as a first timer your eligible loan amount will not be up to this, as you continue to take loan and pay back on time, the amount of loan you can obtain will increase.

Laira plus loan interest rate and repayment period

Lairaplus interest rate is between 5% to 20% depending on the amount of loan obtain. The to repayment period is between 7 days to 3 months also depend on the amount of loan obtain.

For example
If you obtain #10,000 loan for 1 month at 5% interest rate

The amount to repay at the end of the month is #10,500

Paying back your Laura plus loan

To pay back your loan head over to your dashboard

Locate and click on loan repayment

There you will see deferent method to repay your loan

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

What will happen if I default

If you default you will be punish with increase in your interest rate and if you decided not to pay back at all, your name and bvn will be sent to credit bureau for blacklisting which means you will not be able to take loan again in Nigeria until you settle your debt.

Is lairaplus loan legit

Yes Laura plus loan is legit, they will surely give you loan, but they are not license by CBN so exercise caution when taking loan from them.

Our verdict on lairaplus loan app

Lairaplus loan is legit, they will surely give you loan as long as you meet up with their requirement, but for the fact that they are not licence by CBN, I will advice you to exercise caution when dealing with them.

They have good review on play store which means they are doing something right

Conclusion

Lairaplus loan app will surely give you loan in Nigeria but I will advice you to take it slow, do not take loan that you know you can not pay back to avoid embarrassment and also since they are not license by CBN if anything happen it will take time before CBN will interfere

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