Soft naira loan app: interest rate, is it legit, and how to apply

Soft naira loan will give you infant loan in in Nigeria without collateral of paper work. You don’t need to visit any location, with your phone and BVN you will secure the loan. With Soft naira loan you can obtain up to #200,000 loan.

Requirements to obtain loan from soft naira loan

Below are the requirement you need to meet up with before you can obtain loan from soft naira

Have back account and BVN


Have source of income

Be above 18 years of age

Have good credit score.


You must not have defaulted on any loan before.

Have smart phone with which to download the app

How to apply for Softnaira loan

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


Launch it and register with your name and other details

You will be ask to submit your BVN, do so.

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


After the registration you will be login to your dashboard

There you will see amount of loan you are eligible for.

Click this loan and wait for disbursement


It shouldn’t take more than 30 minutes if everything is right.

How much you can loan from soft naira loan

With soft naira loan you can obtain up to #200,000 at a go but as first timer your loan will not be up to this, it will be between #10,000 to #30,000 until you prove your self by taking loan and paying back regularly.

Soft naira loan interest rate and repayment period

Soft naira loan interest rate is between 10% to 25% depending on the amount of loan obtain and the credit score of the recipient.


The repayment period is between 7 days to 90 days also depend on the amount of loan secure.

For first timer your interest rate will be high and the repayment period will be short, this will improve as you continue to take loan from the app.

Repaying your soft Naira loan

You can pay back your loan 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 the dashboard

Locate and click on on loan repayment

There you will see deferent method to pay back


Click one and make payment

Once you make payment it will reflect on your dashboard

What will happen if I default

Soft naira loan is still new, they do not send defamatory text to defaulters contact yet, we don’t know it they will do this.


If you default they will increase your interest rate and if you decided not to pay back at all they will send your name, BVN and other details to credit bureau for black listing , which means you will not be able to take loan again in Nigeria until you settle your debt.

Is Softnaira loan legit

Yes, the loan app is legit,. they give out loan to people in Nigeria but they are not license by CBN so take caution when taking loan from them

Our verdict on Softnaira loan

Softnaira loan is legit, they have good review on play store and good rating, which means they are doing something right. Since they are new I will like you to take caution when taking loan from the app.



Soft naira loan really give loan to people, but since they are not license by CBN, you should take caution, do not obtain more than you can pay back to avoid story that touch and know that if anything goes wrong it will take time for CBN to interfere.

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