Fairmoney App: Is it Legit? [Full-Review]

Fairmoney App: This page will give all you need to know about FairMoney Loan Application. You will get to know the requirements, eligibility, Interest Rates, Application method for fast loan approval, Repayment method, and additional Information regarding fairmoney loan application.

See how to apply for NYIF loan registration

The Fairmoney Loan Application can be a powerful monetary tool to achieve various short and medium-term money-related goals.

With the development of technology, it now only takes a few hours to get personal loan approval with a simple application like the Fairmoney app on your smartphone.

Personal loans like Fairmoney loans are unsecured commitments. This means that you do not need to provide any collateral to secure the loan.

As such, personal loans are an excellent alternative to refinancing credit card debt with a higher interest rate into a lower fixed rate commitment.

FairMoney app is one of the best mobile apps for fast online loans in Nigeria and this article explains how the loan applications work and offers the most ideal approach to get your loan approved as soon as possible.

Read all you need to know about Xcredit Loan app

What you need to know about FairMoney app 

What is the Fairmoney app?

FairMoney is a device loan app that offers interested borrowers one-time loans, installment loans, and payday loans.

The amount received will then be debited from your account at the specified interest rate.

Fairmoney Interest rates are determined by a variety of factors, including your payment history, credit rating, and borrowing costs.

Loan selection takes 15 seconds, and after each approval, the applicant receives funds within 5 minutes. 24 hours a day, 7 days a week.

Credits are transferred via a portable app for Android, and credits are selected in a fraction of a second.

Just four years earlier, in March 2018, FairMoney was launched in Nigeria.

Today, the organization has helped many people by distributing more than 1,500 loans per day.

Private companies have also succeeded in approaching their goals and, above all, access to finance made possible by the power of technology.

Customers can get FairMoney instant loans without collateral, extensive documents, or office visits, which usually makes consumers uncomfortable receiving money.

I think you should go through this before you apply for Branch Loan

Quick Disclaimer: We are not a fairmoney company; The information provided is for informational purposes and personal opinion based on what we have tried with the use of the application. Read their terms and conditions before proceeding to obtain a loan from fairmoney app.

Fairmoney App Brief introduction

FairMoney app is a lending app in Nigeria that offers its users an easy and hassle-free way to borrow money.

They launched FairMoney Loans in early March 2018. The online lending platform is now offering over one thousand five hundred loans daily to Nigerians.

Prior to its launch, FairMoney was able to help thousands of Nigerian and Nigerian businesses get a little closer to their dreams by providing them with financial assistance that they currently cannot afford. They have allowed people and small businesses to thrive regardless of the reality of their situation.

Fairmoney Loan

This loan platform offers you another way to get a loan in Nigeria without any collateral. With FairMoney Loans, you can get instant loans of up to #500,000 without the need for documents or even collateral. This happened in less than five minutes.

FairMoney Loan Application

This app helps you access important finances through the power of modern technology. It’s fast, reliable, secure, and best of all, it’s free!

This is a mobile banking application for Android that allows you to get loans and pay bills quickly and easily.

How much can I borrow from Fairmoney app and for how long?

You can access FairMoney loans ranging from #1,500 to #500,000 with loan terms of 60 days or more. The monthly interest rate also ranges from 10%-30% per month. The process does not require any additional fees or hidden fees when processing your loan.

Eligibility for FairMoney loans

There are no requirements to receive a FairMoney loan. Just enter the application and your loan will be processed. This is done without stringent processes such as documentation and warranties.

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How does a fairmoney loan app work?

With the FairMoney loan application, you can get an instant loan of up to 150,000 without collateral or documents.

They issue business loans and personal loans. All you have to do is download the FairMoney app, register, and follow the simple application process to get an instant loan in just 5 minutes.

FairMoney is a responsive, secure, reliable, and free Android mobile banking application available in Nigeria.

They make it quick and easy to get loans and pay bills. They also have a bonus for referred customers who recommend their friends to use the loan application.

Their products include:

Payday Loans – FairMoney payday loans are designed to provide monthly overdrafts to employees of companies, ministries, semi-governmental agencies, and other institutions.

Education – Anyone with a salary, self-employed or public and private business professionals, students, and public sector employees, including the public sector, is eligible for a personal loan.

Business – Loans help businesses meet cash flow payments as they fall due.

However, before you can get a loan through the application, you must meet certain requirements such as B. Age (minimum 18 years), bank security number, and smartphone.

It’s that simple.

How to apply for a FairMoney loan

Follow the steps below to get a loan from FairMoney app;

• Download the Android app from the Google Play Store.
• Sign up or log in with your phone number or Facebook account.
• Create an account as a new user or apply for a loan as an existing user.
• Get a down payment in your bank account in minutes.

FairMoney regards customer experience and customer satisfaction as top priorities. For this purpose, they have released a new app that does this perfectly. Easy to use and reliable, this app touts the next phase of growth as the easiest way to get a loan in Nigeria.

Getting a loan from FairMoney is very easy and of course, a very simple process that anyone can do. Here are some steps you can take to start preparing for mediation.

These steps can’t go wrong. It optimizes FairMoney app to make its services available to every Nigerian.

How do I borrow money from FairMoney app?

Are you in urgent need of money and have no other money than to borrow from FairMoney? The following guide will help you get a successful loan through the FairMoney loan application.

1. First, you need to download the FairMoney loan application from the Google Play Store as described above
2. Once downloaded, launch the app and click Start.
3. Enter your phone number.
4. A verification code will be sent to your phone. Enter it.
5. Create a secret PIN that is unique and known only to you and complete the registration process by entering your personal information.
6. After successfully registering in the FairMoney loan application, you can apply for your fast loan by following the instructions below.
7. Launch the FairMoney loan application and click Apply.
8. On the next page, fill in the required information such as name, address, nearest bus stop, etc.
9. You will then receive a loan offer.
10. Enter the loan amount of your choice as long as it does not exceed your limit and term.
11. Enter your bank details and the money will be credited to your account in less than 5 minutes if the loan is approved.

Fairmoney app Loan payment

• From your application home page, click Loan Details.
• Click the pay button.
• Select “Full Loan Amount” to pay off your loan once, or “Enter Amount” to select the amount you wish to repay if you are unable to repay it in full.
• Click Next and follow these options.
• When making a bank transfer, your Providus bank account number and unique account name will appear on the screen.
• Click on the copy and pay the loan amount to this account via the online banking platform or at the bank counter of your choice.
• For USSD transfers, your bank’s USSD code is accompanied by the principal loan amount, followed by the Providus bank account number to which the funds will be transferred.
• Copy the code and paste it into your phone dialer to pay off the loan.
• To transfer payment via debit card, select an ATM.
• The card registered in your account will be displayed.
• Select the card of your choice and click the “Payment” option.
• The loan amount is debited directly from the account connected to the ATM card.

How much can I borrow from FairMoney?

The minimum loan amount that you can get through the FairMoney Loan Application is 1500 and the maximum is 150,000 depending on your credit history.

Unlike C24 Loans, Palm Credit App, and others, the first amount is slightly higher.

Fairmoney Interest Rate

Fairmoney loan Interest Rate loans vary between 10% and 28% EIR and APR between 120% and 260%.

FairMoney loan terms range from 61 days to 180 days, allowing borrowers to repay their loans in installments.

How long does it take to get a FairMoney loan?

After successfully applying for a loan on fairmoney through the application, it only takes 5 minutes to process your loan and you will be notified whether your loan will be approved or rejected. If approved, your bank account will be credited immediately.

What will happen if I don’t pay my FairMoney loan?

We can advise you today to always pay your loan on time because there are many disadvantages. It is highly recommended to pay your fairmoney loan on time.

Every day after the agreed payment date, the FairMoney app charges an additional 1.5% interest on the amount you have to repay.

And not only that but you will also be reported by the Nigeria credit bureau which means you will lose the opportunity to get a loan from fairmoney and other loan platforms available in Nigeria.

Your account may be blocked and you will eventually be sued. You don’t want any of this, do you?

Fairmoney app Customer care 

You can contact Fairmoney’s customer service platform by sending an email to [email protected].

Address: 28 Pade Odanye close, off Adeniyi Jones, Ikeja, Lagos, Nigeria (No money in the office, everything is digital)

EMAIL

Customer service: [email protected]

PHONE

01 7001276 / 01 8885577.

FairMoney Loan App Summary

With Fair Money Loans you can pay your tuition fees as a student, start a new business of your choice or solve any urgent problem.

One of the best things about Fairmoney loan applications is that you get a notification a few minutes after applying for a loan.

We hope that this article is sufficient to give information about fairmoney interest rates. 

However, if you have additional questions, you can always visit their website or contact their customer service as described in the article above.

More information about FairMoney app reviews

Getting a loan can be a rigorous process with all the requirements and time required to process it. FairMoney makes it easy. This makes it a fast and reliable option that you can use anytime.

Loans approved within minutes

No collateral or guarantor required

We haven’t found a reason why you don’t want to use FairMoney app. This section will be updated as we do so.