Star loan is another loan app in Nigeria that give out personal loan. Their loan is without collateral or guarantor and you don’t need to visit any physical address, with just a click on your phone you will get their loan. With star loan you can get up to #100,000, though it depend on your credit score.
What is star loan
Star loan is a loan app where one can access a personal loan in Nigeria. The app can be download on play store but currently they are not on app store.
Requirements to apply for star loan
Before you can take a loan from star loan there are requirements you must meet which are
- Have bvn
- Have bank account
- Be a Nigerian and reside in Nigeria
- Have good credit score
- Have phone number and email address
- You must not have defaulted on any loan before
How to apply for star loan in Nigeria
The first step to apply for loan is to head over to play store download the app and register
Register with your name, email address and others
You will be asked to link your ATM card, do so and proceed
After registration login in to your dashboard and locate loan option
Click it and apply for loan
You will be shown the amount of loan available for you.
After applying, they will review it and once accepted your bank account will be credited.
Note: their review process might takes time
Repayment of star loan
To repay your loan, head over to your dashboard
Locate loan repayment and click it
There you will see option to repay with your
ATM card or transfer into the bank bank account provided
I will advice you to pay with ATM card to avoid error
Amount you can loan from star loan
With star loan you can loan up to #100,000 though it depends on your credit score. As a first timer you might not get up to this but as you take loan and payback regularly the amount you can loan will increase
Star loan interest rate and repayment time
Their interest rate is between 5% to 30% depending on the amount of loan request for and repayment period. The repayment period is between 1 month to 6 months.
The repayment period is also determine by your credit score, if you have a good credit score you will be offer long repayment period.
Is Star loan legit
Star loan give loan to people but their review takes time. Star loan is legit but not advisable, there are a lot of negative review about them on play store and online. They are found of blackmailing people, sending derogatory words to peoples contact.
This is not a good loan app and I will advice you to stir clear of them.
Conclusion
To get loan is now easy in Nigeria, if someone is not careful he might fall into long life debt. Please take loan that you know you can pay back to avoid future problem.
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