Moneyclub is a loan company in Nigeria located in Kaduna. They give out loan without collateral or paper work.
You don’t need to visit any location before you will obtain the loan, with just your phone you will secure the loan and also their loan processing is very fast within hour of submitting application your loan will be disburse.
Moneyclub loan app requirement
Below are the requirement you need to meet up with before you can obtain loan from money club
Have bank account and bvn
Have source of income
Have good credit score
Be above 18 years of age
Have smart phone with which to download the app
How to apply for moneyclub loan
The first step to take is to head over to plays store and download the moneyclub loan app
Register with your name, bvn and other details
Once you are done with registration you will be login to your dashboard
On your dashboard 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 money club loan app
With money club loan you can obtain up to #300,000 at a go. As a first timer you will not be able to get up to this, your eligible loan might not be more than #50,000. As you continue to use the loan app this will increase.
Moneyclub loan interest rate and repayment period
Their interest rate is between 10% to 19% depending on the amount of loan secure and the repayment period. The repayment period is between 90 days to 365 days also depend on the amount of loan obtain.
Paying back your moneyclub loan
To pay back your money club loan head over to your dashboard
Click on loan repayment
There you will see options 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 refuse to pay back you will be punish with increase In your interest rate, which is usually 2%. If you decided to abscond; your name, bvn and other details will be sent to credit bureau for black listing, which means that you will not be able to take loan again in Nigeria until you settle your debt and clear your name with credit bureau and trust me the process is hard.
Is money club loan legit
Yes money club loan is legit, they have given loan to many people in Nigeria but they are not license by CBN nor insure by NDIC
Our final verdict on money club loan app
Money club loan will surely give you loan, they have good review on plays store, they do not send defamatory message to their customer.
Also they don’t charge loan processing fee. The only problem with them is that they are not license by CBN so exercise caution when taking loam from them
Conclusion
Above is how to obtain loan from moneyclub loan app. Though they will give you instant loan I will advice you to take loan that you know you can pay back k that to avoid had I know and embarrassment.
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