Prime wallet loan app review: how to apply, interest rate, is it legit - Startuppreneur

Prime wallet loan app review: how to apply, interest rate, is it legit

Prime wallet is one of the loan app in Nigeria that give out instant loan without collateral or paper work. With prime wallet you. Can obtain up to #100,000 loan at a go.

Their loan processing is very fast once your application is successful your bank account will be credited.


Requirement to obtain loan from prime wallet loan app

Though their loan processing is not hard, you can obtain the loan with your smart phone yet there are some requirements you need to meet up with before you will can obtain the loan and they are

Have source of income


Have bvn and bank account

Have good credit score

Be above 18 years of age

Reside in Nigeria


How to apply for prime wallet loan app

The first step to take is to head over to play store and download the loan app

Register with your name and other details.

You will be ask to bind your ATM card which might attract #30, do so and proceed

Once you are done you will be logging to your dashboard

On your dashboard locate and click on loan

There you will see mount of loan you are eligible to obtain

Take the offer and wait for disbursement

How much you can obtain from this loan app

With prime wallet loan you can obtain up to #100, 000 at a go but as a first timer your eligible loan amount will not be  to this. As you continue to take, the amount you can borrow will increase.

Prime wallet interest rate and repayment period

Prime wallet interest rate is between 5% to 15% depending on the amount of loan obtain, their repayments period is between 7 days to 3 months.

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

Paying back your prime wallet loan

To pay back your loan head over to your dashboard

On your dashboard locate and click on loan repayment

There you will see different option to payback your loan

Click on one and make payment

Once you mame payment it will reflect on your dashboard

If it does not contact them.

What will happen if I default

If you default you will be punish with increase in loan interest rate which can be up to 2%. If you decided not playback at all, they might send a defamatory message to your contact.

Also they might send your Name, BVN and other details to credit bureau for blacklisting which means you will not be able to take loan again in Nigeria until you pay back your loan.

Is prime wallet loan app legit

Yes prime wallet is a legit loan app, they have given loan to a lot of people in Nigeria. The only problem with them is that they are not license by CBN nor insure by NDIC.

Our verdict on prime wallet loan app

Prime wallet loan is one off the genuine loan app in Nigeria. Since they are not license by CBN, I will advice you to exercise caution when taking loan form them


As you can see prime wallet will give you instant loan in Nigeria, but do not take more than you can payback to avoid embarrassment and had I know

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