Naira9ja Loan App: interest rate, how to apply, is it legit - Startuppreneur

Naira9ja Loan App: interest rate, how to apply, is it legit

Naira9ja loan app will give you instant loan without collateral or paper work. Their loan disbursement is very fast, once your application is successful you will secure the loan within 30 minutes. With this loan app you can obtain up to #500,000 loan at a go.

Requirement to obtain loan from Naira9ja

To obtain loan form Naira9ja you need to meet up with the following requirement


Be a Nigerian and reside in Nigeria

Have good credit score

You must not have defaulted on any loan before


Be above 18 years of age

Have bank account and credit card

Have a source of income

Lastly have smart phone with which to download the app

How much you can obtain from Naira9ja loan app

With Naira9ja you can obtain up to #500,000 loan without collateral or guarantor. But as a first timer the amount of loan you ate eligible for will not be up to this, you might not be able to obtain more than #50,000 loan depending on your credit score.

But as you take loan and pay back on time the amount you can obtain will increase.

How to obtain loan from Naira9ja

The first step is to head over to playstore

Download the app and register with your name and other details

You will be ask to submit your BVN, do so and proceed

You will will be ask to bind your ATM card, do so, they might charge #30 for that

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 on it and wait for your loan to be disburse

Niara9ja loan interest rate and repayment period

Their loan interest rate is between 5% to 25% depending on the amount of loan obtain and the credit score of the recipient.

The repayment period also depend on the amount of loan and credit score, it is between 30 days to 180 days.

As a first timer your interest rate will be high and the repayment period will be short this will improve as you continue to use the app.

Repaying your Naira9ja loan

You can payback your loan with ATM card or ask for their account number and transfer to it. Ensure you have the correct account number to avoid story that touch
On your dashboard

Locate and click on loan repayment

There you will see deferent option to payback
Chose one and proceed

Once you make payment it will reflect on your dashboard

If it does not, contact them and explain.

What will happen if I default

If you default you will be punish by increase in interest rate. If you decide not to pay back, your name and BVN will be forward to credit bureau for black listing, which means you will not be able to take loan again in Nigeria until you payback your debt and clear your name with credit bureau, believe the process is hard, so pay back your loan.

Is Naira9ja loan app legit

Yes the loan app is legit, they have given out loan to many people in Nigeria. The only problem is that they are not license by CBN so exercise caution when taking loan from this loan app.

Our verdict about Naira9ja loan

The loan app is legit, they will surely give you loan and their loan disbursement is very fast.

As at the time of writing this article they have good review on play store with some few negative review. Since the loan app is still new I will advice you to exercise caution when taking loan from this loan app.


Naira9ja will give you instant loan in Nigeria with out collateral or paper work, but they are not license by CBN which means if any thing goes wrong it will take time before CBN will interfere.

Also take loan you know you can payback to avoid embarrassment.

Do you like this article?
Feel free to share it

Back to top button