Mint loan app: how to apply, is it legit and interest rate - Startuppreneur
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Loan

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

Mint loan app will give you quick loan without collateral or paper work in Nigeria. You don’t need to visit any location before you will obtain the loan, everything will be done on your phone.

With mint loan app you can obtain up to #100,000 loan at go. Their loan processing is very fast once your application is successful you will be credited in 30 minutes time.

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Requirement to obtain loan form Mint loan app

To obtain loan from this app you need to meet up with the following requirement

Have bvn and bank account

Be above 18 years of age

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Have regular source of income

Have good credit score

Reside in Nigeria

Have smart phone with which to download the loan app

Once you meet up with this requirement, you can go ahead and apply for the loan

How to apply for Mint loan

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 mint loan app

With mint loan app you can obtain up to #100,000 loan at a go. if you are applying for the first time you will not obtain up to this, your loan limit might not be more than #30,000 but as you continue to use this loan app it will increase.

Mint loan app interest rate and repayment period

Mint loan interest rate is between 5% to 25% depending on the amount of loan obtain. Their repayment period is between 7 days to 180 days also depend on the amount of loan secure.

If you a applying for the first time, your loan interest rate will be high while your repayment period will be short. As you continue to use the app this will improve.

Paying back your mint 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.

Is mint loan app legit

Yes, mint loan app is legit they have given loan to many people in Nigeria but they are not license by CBN nor insured by NDIC.

Our final verdict on mint loan app

Mint loan app is legit they will surely give you loan, though they are not license by CBN yet.

They don’t charge for loan processing fee which is a good thing. They have good review on play store which means they are doing something good.

Since they are not license by CBN, exercise caution when taking loan from this app, only obtain loan that you know you can pay back.

Conclusion

Above is how to obtain loan from mint loan app. As stated above they will surely give you loan.

Don’t take more than you can pay back, try to avoid embarrassment. Also know that this loan app is not license by CBN, so exercise caution when dealing with them

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