Mynaira loan app will give you instant loan in Nigeria without collateral or paper work, you don’t need to visit any location, with your smart phone you are good to go. With Mynaira loan app you will obtain up to #50,000 Naira loan at a go.
Requirement to obtain loan form Mynaira loan app
Below are the requirement you must meet up with before you can obtain loan from this app, they are
Have good credit score
Have bank account and bvn
Be above 18 years of age
Have source of income
Have smart phone with which to download the loan app
How to apply for Mynaira loan
The first step to take is to head over to play store and download the loan app
Launch the app and 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
After the registration you will be login to your dashboard
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 Mynaira loan app
My naira loan app is new kid on the horizon, they are new and as such the maximum amount of loan you can obtain from them is #50,000 in fact if you are a first timer you will not be able to obtain up to this, but as you continue to to take loan and pay back regularly the amount of loan you can obtain will be increase
Mynaira loan interest rate and repayment period
Their interest rate is between 15% to 30% per year depending on the amount of loan secure. Their repayment period is between 7 days to 1 year. I don’t think it is up to a year. Their actual interest rate is between 7 days to 90 days.
If you are obtaining loan for the first time, your Interest rate will be high and your repayment will be short but as you continue to use the app, this will improve.
Paying back your Mynaira loan
This loan app follow the same procedure
Logging to your dashboard
Locate and click on loan rewound
There you will see deferent option to pay backing such as ATM, bank transfer and others
Chose one and make payment
Once you make payment, it will reflect on your dashboard
If it does not you should contact them asap.
What will happen if I default or refuse to pay back
If you default you will be punish with increase in your loan interest rate. If you then refuse to pay back they might send defamatory message to your contact which I think it worth it.
Also they will send your name and BVN to credit bureau for blacklisting which means, you will not be able to obtain loan again in Nigeria until you settle your debt and clear your name with credit bureau.
Is mynaira loan legit
Yes, mynaira loan app is legit, they will surely give you loan but they are not license by CBN nor insure by NDIC.
Our verdict on mynaira loan app
As stated above mynaira loan app is legit, they will surely give you loan. They have good review on play store perhaps because they are still new.
They have more than 10k download. The only thing I didn’t like about this loan app is that their processing fees is outrageous which is between 6% to 24%, haba! It is too much. Well they compensate it with Interest rate which is 0.5% per month.
Conclusion
Above is how to obtain loan from mynaira loan app. As you can see this loan app mean business they will surely give you loan but you should take loan that you can pay back to avoid had I know and embarrassment.
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