Osunloan app review: how to apply, interest rate and is it legit - Startuppreneur

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Osunloan app review: how to apply, interest rate and is it legit

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Osunloan app will give you instant loan in Nigeria without collateral or paper work. You can obtain up to #100,000 loan form this loan app and you don’t need to visit any location with your phone you are good to go.

Their loan processing is very fast within 1 hour of submitting application your loan will be disburse, though it can take more than this for first timer.

Requirements to obtain loan from Osun loan

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

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Be a Nigerian and reside in Nigeria

Have bank account and BVN

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Have good credit score

Have source of income

Have smart phone with which to download the app

How to apply for osun loan app

Head over to play store an download osunloan app

Register with your name and BVN

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You will be ask to bind your ATM card 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 osunloan app

With osunloan app you can obtain between #1,500 to #100,000 without collateral or paper work. As a first timer your eligible loan will be between #1,500 to #10,000 but as you continue to use the app this amount will increase.

Osunloan interest rate and repayment periods

Their interest rate is between 10% to 30% per annum, depending on the amount of loan secure and the repayment period.

The repayment period is between 7 days to 3 months. As a first timer your interest rate will be high and your repayment period will be short but as you continue to use the app this will be improve.

Paying back your osunloan

You can payback with ATM card or ask for their account number and transfer to it. When making transfer ensure you have their correct account number to avoid story that touch

Login to your dashboard

Locate and click on loan repayment

There you will see deferent method to payback your loan

Click it and make your payment

Once you make payment it will reflect on your dashboard

It it does not contact them

What will happen if I default

If you default, your interest rate will increase by 2% and if you decide not to pay back they might send defamatory message to your contact telling them all sort of rubbish.

Also they might send your name to credit bureau for blacklisting which means you won’t be able to loan until you settle your debt

Is osunloan app legit

Yes it is legit, they will give you instant loan without collateral but they are not license by CBN so exercise caution when taking loan from them

Our verdict on osunloan apl

Osun loan app is legit loan app, the have good review on play store and good rating which shows they are doing something good, the problem I have with the. is that they are not license by CBN. Well let see if they will do that in the coming days.

Conclusion

Above is how to apply for osunloan, they will surely give you loan but take loan that you know you can pay back to avoid embarrassment and know that if any thing goes wrong it will take time for CBN to interfere since they are not license by CBN.

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