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Olamide Famuwagun

Easemoni Loan – How To Apply For Instant Loans

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Easemoni is a popular personal loan app in Nigeria that specializes in microfinance. It provides quick and easy loans. It’s for individuals who need immediate financial help.

Easemoni focuses on offering microloans. They have small, short-term loans meant to help users meet immediate financial needs. You can use Easemoni loans for an emergency, personal expenses, or to support a small business.

In this blog post, I’ll give the details on Easemoni and the steps involved in applying. 

Easemoni loan

Understanding Easemoni Loans

The first thing you need to understand about the Easemoni loan is that it uses a mobile app for loan application and management.

The loan amount you can borrow from Easemoni ranges from a minimum of ₦3,000 to a maximum of ₦1,000,000.

As for repayment on Easemoni, the terms are flexible, ranging from 91 days to 12 months. This time allows you to choose a plan that fits your finances and income.

In addition, interest rates on Easemoni loans are competitive, ranging from 5% to 10% per month. The APR can range from 60% to 120%.

Benefits of Easemoni Loans

1. Convenience and ease of application

Easemoni simplifies the loan application process through its online platform. You can apply for a loan directly from your smartphone without the need for physical paperwork or visiting a bank.

2. Benefits for those with limited credit history

For individuals with limited or no credit history, traditional banks might not be an option. Easemoni potentially offers a solution by employing alternative credit scoring methods.

Many fintech companies analyze data like mobile phone usage, payment history on utilities, and even social media activity.

3. Faster loan approval times

Compared to traditional banking processes, Easemoni boasts of faster loan approval times. The Easemoni loan app processes things fast. You could get the money in your account within minutes after approval.

Eligibility for Easemoni Loans

Basic Requirements:

  • Applicants must be at least 18 to apply for a loan. 
  • You must be a citizen and resident of Nigeria. 
  • Bank verification number (BVN)
  • Valid phone number
  • Applicants should have a source of income. 
  • Currently, the Easemoni app is available for Android users, so having an Android device is needed to download and use the app.

Documents Needed:

  • Personal information
  • Bank account details
  • Proof of income

Easemoni Loan USSD Code

The Easemoni loan USSD code is *347*334#.

Using the USSD code greatly helps those without a smartphone. Once the correct USSD code is inputted, various loan options are displayed and you can choose the loan fit for you.

How To Apply For an Easemoni Loan (Step-by-Step Guide)

1. Download the Easemoni app

First, you need to download the Easemoni app from the Google Play Store.

2. Create an account and provide your basic information

After installing the app, open it and sign up for an account. You’ll need to provide basic info. This includes your Bank Verification Number (BVN).

You also need a valid phone number and some personal details. This information helps Easemoni verify your identity.

3. Specify your desired loan amount and repayment term

Once your account is set up, you’ll have the option to apply for a loan. Specify the amount you wish to borrow and the repayment term that suits you.

Easemoni offers loans ranging from ₦3,000 to ₦1,000,000, with repayment terms from 3 to 12 months.

4. Upload your required documents (if applicable)

The process may require you to upload certain documents for verification purposes. However, the Easemoni loan app has a minimal documentation process, so this step is often simplified or not necessary.

5. Submit the application

After you have entered the needed info, submit your application. Easemoni will assess your application.

6. Loan approval

Once your loan is approved, the funds will be directly deposited into your bank.

How To Repay Your Easemoni Loan

Here are different methods to repay an Easemoni loan:

  1. Repay through direct bank transfer.
  2. Use your debit card to make payments.
  3. Dial the *347*334# for repayment options.
  4. Make repayments through various E-Wallets.
  5. Choose the manual repayment option on the app for payment flexibility.

Importance of timely repayments:

  • To Prevent penalties
  • To Maintain a strong credit score
  • To Establish trust with the lender through financial discipline

Easemoni Loan App Download

Here’s how to download this app in simple steps:

1. Take your Android device and open the Google Play Store.

2. Next, search for ‘Easemoni’ and download the app.

Once you download this app, begin your registration process and apply for a loan when you are done. 

Important Considerations Before Applying for an Easemoni Loan

1. Transparency on interest rates and fees

Understand the interest rates and any fees associated with your loan. Easemoni claims to offer competitive interest rates ranging from 5% to 10% per month, with an APR of 60% to 120%.

They emphasize transparency and state that there are no hidden charges. Ensure you know the total cost of the loan, including interest and any fees, to avoid surprises​​​​​.

2. Comparison with other loan options in Nigeria

It’s wise to compare Easemoni’s loans with others. You should look at other banks and loan services in Nigeria.

Consider factors like loan terms, interest rates, eligibility criteria, and customer reviews. This comparison can help you find the best loan. It will meet your needs at the lowest cost.

3. Responsible borrowing practices

Borrow only what you need and what you’re confident you can repay within the agreed timeframe. Over-borrowing can lead to financial strain and difficulties in managing repayments.

Before applying for a loan, assess your finances. Understand your borrowing needs and plan your repayment strategy. Do this to ensure you can meet your obligations without stress.

Easemoni’s Customer Support Contacts

For any further questions about Easemoni loans, you can contact their customer service. Use the following details:

Conclusion

Easemoni is a key player in the Nigerian financial sector. They provide fast and easy loan services directly from smartphones. It emphasizes convenience, speed, and minimal documentation.

This approach offers a modern solution to immediate financial needs. Easemoni offers loans to many people.

This includes those with limited credit history. They use alternative credit assessment methods. This addresses a gap in traditional banking services.

Filed Under: Mobile Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

How To Liquidate Your GTB Salary Advance

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A Salary Advance is a short-term financial solution and financial institutions, such as GTBank, offer it to salaried individuals.

This facility lets employees access a portion of their expected salary early. It provides a lifeline during financial emergencies and requires no collateral.

Paying off such loans quickly is crucial. They have short repayment terms and it helps keep a good credit score and avoids interest and penalties.

In this article, I’ll tell you

Filed Under: Business Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

How to Link NIN/BVN to UBA Account in 2024

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The National Identification Number (NIN) and Bank Verification Number (BVN) are vital in Nigeria’s security system. The NIN is issued by the National Identity Management Commission (NIMC). It serves as an identity marker for citizens and legal residents.

The BVN was initiated by the Central Bank of Nigeria (CBN) with the Nigerian Interbank Settlement System (NIBSS). It uniquely identifies bank account holders.

The NIN and BVN are now integrated with banking operations, like those of the United Bank for Africa (UBA). Failure to comply may lead to banking restrictions starting from April 2024.

Here are the several ways to link your NIN/BVN to your UBA account:

To link your NIN/BVN through UBA’s online banking platform, follow these general steps:

  • Visit the UBA internet banking login page and log in.
  • Navigate to the NIN/BVN linking section. This may be found under account settings or security settings.
  • Enter your NIN/BVN details as prompted.
  • Submit the information to complete the linkage.

Note: For new users or anyone trying to reset their passwords, the UBA’s online platform offers self-registration options and password reset tools.

2. USSD code for linking BVN to UBA account

UBA provides a USSD code for linking your BVN to your account:

  • From the phone number associated with your UBA account, dial *919*6#.
  • Follow the prompts to enter your BVN.
  • Confirm the details and submit to complete the process.

3. UBA Mobile app

  1. Log into the UBA app.
  2. Go to the profile or settings section.
  3. Select the option to link your NIN/BVN and enter the necessary details.
  4. Submit your information for linkage.

4. Branch banking

Visiting a UBA branch is another option to link your BVN/NIN. You should bring relevant identification documents such as your ID card and NIN slip. At the branch, a rep will help you link your NIN/BVN to your account.

Conclusion

Linking your NIN and BVN to your UBA account improves security and it is important to link them now. Remember, from April 2024, all bank accounts not linked to their NIN and BVN will be frozen. Use this guide to act quickly.

FAQs

Can I link my BVN to my account by myself?

Yes, you can link your BVN to your bank account by yourself using online banking, USSD codes, or mobile banking apps.

How do I know if my BVN is linked to my bank account?

You can check if your BVN is linked by logging into your online banking platform or mobile app, or by contacting your bank’s customer service.

Can two BVNs be linked to one phone number?

No, a phone number can only be linked to one BVN, ensuring unique identification for each bank customer.

Can my BVN be linked to two numbers?

Yes, your BVN can be linked to more than one phone number, allowing for flexibility in receiving bank communications.

How long does it take?

Linking your BVN/NIN to your bank account is instant but can take up to 24 hours to reflect in the bank’s system.

What happens if I don’t link my NIN/BVN?

Failure to link your NIN/BVN can result in restrictions on your account, including limitations on transactions and potential account deactivation.

Filed Under: Business Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

How to Link NIN/BVN To Your First Bank Account in 2024

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FirstBank is one of Nigeria’s top financial institutions. For its customers, connecting their NIN and BVN to their accounts has many benefits.

It protects you as a FirstBank customer from identity theft and financial fraud. It also allows smooth transactions. 

In addition, the CBN has mandated linking NIN and BVN identifiers to bank accounts with a deadline of April 2024. Failure to comply will lead to the blockage of your account.

In this blog, I’ll show you how to link your NIN/BVN to your Firstbank account.

To link your National Identification Number (NIN) and BVN to your FirstBank account you can use these methods:

If you choose to link your NIN in person at a FirstBank branch, you’ll need your NIN slip, BVN, and FirstBank account details.

Here are the steps:

  1. Request a NIN linking form from the customer service representative.
  2. Fill out the form with the necessary details, such as your account details, NIN, and BVN.
  3. Submit the form back to the customer service for processing.
  4. Wait for SMS confirmation of successful linking.

FirstBank Online Banking

Here’s how you can link your NIN to your Firstbank account via online banking:

  1. Log into FirstBank’s Internet Banking with your credentials.
  2. Go to the NIN Linking Section.
  3. Enter your NIN and other needed information in the specified fields.
  4. Submit your NIN linkage request.
  5. You will get an on-screen confirmation. It will show that your NIN has linked to your FirstBank account.
  1. Dial the USSD code *894# with the phone number registered with your FirstBank account.
  2. Include your 11-digit BVN number. For example, if your BVN is 12345678910, you would dial *894*12345678910# on your mobile phone.
  3. After dialing the code, you will get a confirmation SMS from FirstBank.

4. FirstMobile App

The FirstMobile app offers another convenient means to link your NIN:

  1. Download and activate the FirstMobile app
  2. Log in with your credentials.
  3. Navigate to the section designated for BVN/NIN updates.
  4. Enter the necessary details, including your NIN or BVN.
  5. Submit the information to link your NIN to your FirstBank account​.

<<Related Article – How To Link NIN/BVN To GTbank Account Quickly

Firstbank Customer Care Contacts

You can get help with linking your NIN or BVN to your FirstBank account by contacting their customer care:

1. Phone Support

You can call FirstBank customer care at the following numbers for immediate assistance:

  • General inquiry: +234 1 905 2326, +234 708 062 5000, +234 1 448 5500
  • Specific service (FirstContact): 0700-FIRSTCONTACT (0700-34778-2668228)​​​​​​.

2. Email Support

For email inquiries or to file a complaint, you can reach FirstBank customer care through:

3. Social Media and WhatsApp

FirstBank is also active on social media and provides support through these platforms:

Conclusion

You must link your National Identification Number (NIN) and Bank Verification Number (BVN) to your bank accounts. This is not just a rule. It’s a step to make financial transactions in Nigeria secure and sound.

FirstBank customers have various convenient channels. These include in-branch visits, online banking, USSD banking, and the FirstMobile app. They are meant to make the process seamless.

FAQs

Can I link my BVN to my account by myself?

Yes, you can link your BVN to your bank account by yourself using online banking, USSD codes, or mobile banking apps.

How do I know if my BVN is linked to my bank account?

You can check if your BVN is linked to your bank account by logging into your online banking platform or contacting your bank’s customer service.

Can two BVNs be linked to one phone number?

No, a phone number can only be linked to one BVN, ensuring individual identity security and verification.

Can my BVN be linked to two numbers?

Yes, your BVN can be linked to multiple phone numbers, allowing flexibility in banking communications.

How long does it take?

The process of linking your BVN/NIN to your bank account is usually instant, but confirmation may take up to 24 hours.

What happens if I don’t link my NIN/BVN?

Failure to link your NIN/BVN to your bank account may result in restricted access to banking services and transactions.

Filed Under: Business Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

Bank Sort Codes in Nigeria & How You Can Find Them (2024)

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A bank sort code is a 9-digit special number that helps identify banks and their branches.

This code is crucial for moving money between accounts. Moreover, it is especially crucial for electronic transfers within Nigeria. It makes sure that the money goes to the right bank and branch.

In this article, we’ll be discussing the bank codes for each bank in Nigeria.

bank sort code

Complete Sort Codes of Banks in Nigeria

  • Access Bank Plc: 44150149
  • Diamond Bank Plc: 63150162
  • Ecobank Nigeria Plc: 50150311
  • Enterprise Bank: 84150015
  • Equitorial Trust Bank Limited: 40150101
  • Fidelity Bank Plc: 70150003
  • First Bank Of Nigeria Plc: 11152303
  • First City Monument Bank Plc (FCMB): 214150018
  • Finbank Plc: 85151275
  • Guaranty Trust Bank Plc (GTBank): 58152052
  • Keystone Bank: 82150017
  • Mainstreet Bank: 14150030
  • Nigeria International Bank (Citigroup): 23150005
  • Polaris Bank Plc: 76151006
  • Stanbic-Ibtc Bank Plc: 221159522
  • Standard Chartered Bank Nigeria Ltd: 68150057
  • Sterling Bank Plc: 232150029
  • United Bank For Africa Plc (UBA): 33154282
  • Union Bank Of Nigeria Plc: 32156825
  • Unity Bank Plc: 215082334
  • Wema Bank Plc: 35150103
  • Zenith Bank Plc: 57150013

Swift/BIC Codes

SWIFT (Society for Worldwide Interbank Financial Telecommunication) codes, also known as BIC (Bank Identifier Codes), are used internationally to identify banks for financial transactions.

Each bank in Nigeria has its unique SWIFT code, which is different from its sort code. This means that bank codes and swift codes are not the same.

Swift/BIC code

Here are the SWIFT codes for some of the major banks in Nigeria:

  • Access Bank Plc: ABNGNGLA
  • African Export-Import Bank: PASSNGLA
  • Asset Management Corporation of Nigeria: AMNGNGLA
  • Central Bank of Nigeria: CBNINGLA
  • Citibank Nigeria Limited: CITINGLA
  • Ecobank Nigeria Limited: ECOCNGLA
  • Fidelity Bank Plc: FIDTNGLA
  • First Bank of Nigeria Ltd: FBNINGLA
  • First City Monument Bank Limited: FCMBNGLA
  • Guaranty Trust Bank Plc: GTBINGLA
  • Heritage Banking Company Limited: HBCLNGLA
  • Jaiz Bank Plc: JAIZNGLA
  • Keystone Bank Limited: PLNINGLA
  • Polaris Bank Limited: PRDTNGLA
  • Stanbic IBTC Bank Plc: SBICNGLX
  • Standard Chartered Bank Nigeria Limited: SCBLNGLA
  • Sterling Bank Plc: NAMENGLA
  • United Bank For Africa Plc: UNAFNGLA
  • Union Bank of Nigeria Plc: UBNINGLA
  • Unity Bank Plc: ICITNGLA
  • Wema Bank Plc: WEMANGLA
  • Zenith Bank Plc: ZEIBNGLA

Learn more: USSD code for loans in Nigeria

Routing Number

A routing number, or a routing transit number (RTN), is a unique nine-digit code. It’s assigned to banks by the Central Bank of Nigeria (CBN). This number is essential for domestic bank transactions. It is used for fund transfers and for receiving international payments.

Also, you can use it for setting up direct deposits. Each bank has a distinct routing number. It aids in correctly directing funds to the appropriate accounts.

Routing numbers are only used for domestic transactions within Nigeria. They are not applicable for international transactions for which SWIFT codes are used.

Below are examples of routing numbers used by each bank in Nigeria:

  • Access Bank: 104014138
  • Zenith Bank: 057150013
  • First Bank of Nigeria: 011151003
  • Ecobank Nigeria: 050150010
  • United Bank for Africa (UBA): 033153513
  • Guaranty Trust Bank (GTCO/GT Bank): 058152052
  • Stanbic IBTC Bank: 221159522
  • Fidelity Bank Nigeria: 070150003
  • Union Bank of Nigeria: 032080474
  • Sterling Bank: 232150016

FAQs

Is bank code and SWIFT code the same?

No, a bank code and a SWIFT code are not the same. A bank code is a numerical code assigned to a specific bank within a country. A SWIFT code is an international bank code used for international transactions.

Where do I find my bank’s SWIFT code?

You can find your bank’s SWIFT code on its website, and bank statements, or directly contact the bank. It’s also sometimes listed in the account details section of your online banking portal.

Do all bank branches have a SWIFT code?

Not all bank branches have their own SWIFT codes. Some smaller branches use the SWIFT code of their head office or a larger branch. Only major branches or the head office usually have a unique SWIFT code.

Filed Under: Bank Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

How To Link NIN/BVN To GTbank Account Quickly

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Do you know you can link your NIN/BVN to your GTbank account by yourself?

NIN stands for National Identification Number while BVN means Bank Verification Number. Both of these are important in Nigeria.

Your NIN is your ID number for the government while your BVN helps banks protect your account.

If you fail to link your National Identification Number (NIN) and Bank Verification Number (BVN) to your GTBank account before April 2024, the Central Bank of Nigeria (CBN) has announced that accounts will be frozen starting from this date​​.

So, let me teach you how to link your BVN/NIN to your GTbank account.

Here are 3 ways to link your NIN and BVN to your GTbank account:

1. USSD code

To link your BVN, dial *737*20*BVN# from the phone number linked to your GTBank account. This will link your BVN easily. Currently, there is no USSD code to link your NIN. You can try the other two options below. 

2. GTbank website

To use the GTBank website for linking your NIN and BVN:

  1. Visit GTBank’s self-service portal at www.gtbank.com.
  2. Login with your Internet banking credentials or register if you haven’t already.
  3. Navigate to the NIN/BVN linking section and follow the prompts to enter and submit your NIN.

Please note that you’ll need your internet banking details to log in and complete this process.

3. GTbank Branch

You can visit any GTBank branch if you prefer in-person help. Bring the following:

  • Your GTBank account details
  • Your NIN slip
  • Your BVN number

Approach the customer service desk, and they will guide you through the process of linking your NIN to your account.

Requirements For Linking BVN/NIN To GTBank Account 

To link your BVN/NIN to your GTBank account, you will need the following:

  1. Your GTBank account number
  2. Your National Identification Number (NIN): 
  3. Your Bank Verification Number (BVN)
  4. The phone number registered with GTBank: 
  5. Access to GTBank’s internet banking
  6. A valid ID and your NIN slip

<<Recommended – How To Check NIN on Airtel

GTbank Customer Care

To contact GTBank customer care in case you encounter any issues while linking your BVN?NIN, you can use the following phone numbers:

  • +234 1 2715227
  • GTConnect: +234 1 448 0000
  • +234 700 4826 66328
  • +234 802 900 2900
  • +234 803 900 3900
  • +234 813 985 6000
  • +234 904 700 0000

You can also visit their Help Centre at https://www.gtbank.com/help-centre/contact-us for more information and assistance. Also, you can email gtbankmailsupport@gtbank.com.

Issues That Might Arise During Linking of BVN/NIN

1. Incorrect NIN number

If you enter an incorrect NIN, the system will not be able to match your identity, leading to a failed linking attempt.

Double-check your NIN before submitting it to ensure accuracy. If you continue to face issues, contact GTBank customer care for assistance.

2. Technical difficulties

Sometimes, technical glitches, like network problems or maintenance, can interrupt linking.

If you encounter any technical difficulties, try the process again after some time. If the issue persists, reach out to GTBank customer care for help.

3. Mismatched information

The information on your GTBank account must match the details associated with your NIN and BVN. If there’s a discrepancy (e.g., different names or phone numbers), the linking might fail.

Make sure all your records are consistent. Update any old information with the bank or the National Identity Management Commission (NIMC) as needed.

4. USSD code not working

The USSD code for linking may not work. This could be due to issues with your mobile network or because you’re dialing from a phone number that’s not linked to your GTBank account.

Make sure you’re using the correct phone number and USSD code. If problems continue, consider using another linking method or contacting customer support.

3. Website login issues

You might have trouble logging into GTBank’s internet banking to link your NIN. This can be due to forgotten login details or website problems.

If you can’t log in, follow the website’s instructions for getting back or resetting your credentials. Or, use a different method for linking your NIN/BVN.

Conclusion

You must link your National Identification Number (NIN) and Bank Verification Number (BVN) to your GTBank account.

Act now to keep your account current and in good standing. The linking deadline is April 2024. GTBank has made it easy to link your NIN and BVN, whether you want to use the USSD code, the internet, or go to a branch in person. 

FAQs

Can I link my BVN to my account by myself?

Yes, you can link your BVN to your account yourself using your bank’s USSD code service, internet banking, or mobile banking app.

How do I know if my BVN is linked to my bank account?

You can check if your BVN is linked to your bank account by logging into your internet banking or mobile banking app, or by contacting your bank’s customer service.

Can two BVNs be linked to one phone number?

No, a phone number is typically linked to one BVN to maintain the uniqueness of each individual’s banking profile.

Can my BVN be linked to two numbers?

Yes, your BVN can be linked to more than one phone number, allowing for flexibility in receiving banking alerts and performing transactions.

Filed Under: Guides [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

How To Link Your NIN To Airtel, Glo, MTN & 9Mobile in 2024

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In Nigeria, the directive to link your National Identification Number (NIN) with your SIM cards across various telecommunications networks—Airtel, Glo, MTN, and 9mobile— aims to combat crimes, like fraud and terrorism.

Your NIN verifies the identity of every mobile number and secures your mobile number from unauthorized use. It guarantees uninterrupted access to essential services.

This article explores how to link your NIN to Airtel, Glo, MTN, and 9Mobile.

There are 3 ways to link your NIN to your Airtel:

1. Via USSD Code

  • Dial *996# on the phone using the Airtel line you wish to link.
  • Input your VNIN in the space provided. If you don’t have a VNIN, dial *346*3* NIN121097#.
  • Wait for the message confirming your submission.

2. Via the Airtel-NIN Portal

  • Visit the Airtel-NIN official portal using your phone or computer.
  • Fill in your phone number, email address, and Virtual National Identification Number (VNIN). If you don’t have a VNIN, dial *996*3#.
  • Click on the submit button and wait for a confirmation message.
  • An OTP will be sent to your Airtel line for verification.
  • Enter the OTP and click confirm

3. Via the NIMC Mobile ID App

  • Download and install the NIMC Mobile ID app from the Google Play Store or Apple App Store.
  • Launch the app and scan the QR code on your NIN slip or type in your NIN.
  • Create a 6-digit PIN to secure your app and data.
  • Tap on “My Devices,” then “Add Device.”
  • Enter your Airtel phone number and submit. An OTP will be sent to your Airtel line for verification.
  • Enter the OTP and confirm

4. Via SMS

To link NIN to Airtel using SMS, send a new message starting with the word “NIN” followed by a space, and then your 11-digit NIN number.

For instance, if your NIN is 12345678903, you should type “NIN 12345678903”. Send this message to 121. This direct method ensures that your NIN is submitted for linkage with your Airtel number.

How To Check if NIN is Linked To Airtel Number

To check if your NIN is linked to your Airtel number, follow these steps:

  • From your Airtel line, dial *996#.
  • Navigate through the menu by following the prompts to check your NIN status.
  • You will receive information on the screen about the linkage status of your NIN with your Airtel number.

If your Airtel number has been blocked, you might need to visit an Airtel store with your NIN and a valid ID to link your NIN to your Airtel number. The staff can assist you in linking your NIN. 

Or, to link your NIN to your Airtel number after being blocked, you can use the USSD code *993#. Follow the on-screen prompt to finish the linking. 

<<Recommended – How To Check Your Airtel Number

how to link NIN to airtel

You can link your NIN to MTN using the following methods:

1. USSD Code

  • Dial the NIN code for MTN, *996# from your MTN line.
  • Follow the prompts accurately to input your 11-digit NIN.
  • Complete the process as directed by the prompts.

2. Using the MTN NIN Linking Portal

  • Visit the MTN NIN linking portal: Open your web browser and go to the MTN NIN linking portal.
  • Fill in the necessary information: Enter your NIN, phone number, and email address. After entering these details, click on ‘Next’.
  • Verify your information: Check the information you’ve provided for accuracy. You will then receive an OTP via SMS to the phone number you provided. Enter this OTP to validate your details.
  • Wait for a message to confirm that your NIN linking was successful.

How To Check if NIN is Linked To MTN Number

  • Dial *996# from your MTN number.
  • Follow the on-screen instructions to select the option for checking NIN linkage.
  • The system checks the status of your NIN linkage with your MTN number and informs you if it’s successfully linked.

To link your NIN to your MTN SIM and unblock your line, follow these simplified steps:

  • Dial the USSD code MTN provided for NIN linkage, which is *996*NIN# from your MTN line. Follow the prompts to complete the process.
  • Visit the MTN online NIN submission page or use the MTN mobile app.
  • Enter your NIN and follow the instructions to complete the linkage.

Visit the MTN service center for help, if your line has been blocked. The staff can help ensure your NIN is correctly linked to your SIM and assist in unblocking your line.

<<Learn More – How To Borrow Airtime From MTN Using Quick USSD Code

how to link NIN to MTN

To link your National Identification Number (NIN) to your 9mobile SIM, you can use a USSD code or the 9mobile online portal. Here’s how to do it:

1. Using USSD Code

  • Dial *996# on your phone.
    • Reply with ‘1’ to confirm if your NIN is already linked
    • If not linked yet, enter ‘2’ and then your 11-digit NIN.
    • For information on NIN Registration centers across Nigeria, select option “3”.
  1. Go to https://nin.9mobile.com.ng using a web browser.
  2. Fill in your 9mobile number. Also, include your NIN and any other needed info.
  3. Follow the on-screen instructions to finalize the linking process.
  • If 9mobile has blocked your line, the best approach is to go to a 9mobile service center. They can guide you through linking your NIN to your SIM. They can also help unblock your line.
  • 9mobile may offer a USSD code or an online portal for linking your NIN to your SIM. However, if your line is blocked, you might need to verify it at a 9-mobile office.
  • Most importantly, for the 9mobile office, you must provide your NIN and the phone number you wish to link. The service representative will help you complete the linkage and unblock your line.

<<Learn More – How To Transfer Data on 9mobile

how to link NIN to 9mobile

To link your NIN to your Glo number, follow these steps:

1. USSD Code 

  1. Dial *996# on your Glo mobile phone
  2. Follow the on-screen instructions carefully.
  3. Enter your 11-digit National Identification Number (NIN) carefully.
  4. Wait for a message from Glo to confirm that your NIN has been linked to your number.

2. Online Portal

  1. Visit the Glo NIN Portal online.
  2. Fill in your full name, phone number, National Identity Number (NIN), and email address.
  3. Enter the two-digit numbers shown on the screen for CAPTCHA verification.
  4. Click on the submit button to complete the process.

How To Check if NIN is Linked To GLO Number

  • Dial *996# on your Glo phone.
  • Use the menu options to select the service for the NIN status check.
  • The feedback will confirm if your NIN is linked to your Glo number or not.

To link your NIN to your Glo SIM and unblock your line, follow these simplified steps:

  1. Retrieve Your NIN: If you don’t already know your NIN, you can retrieve it by dialing *346# from your phone. This USSD code allows you to find out your NIN, though charges may apply.
  2. Link Your NIN to Your SIM
  3. Via the NIMC Mobile ID App: Download and log into the NIMC Mobile ID App using your NIN. Tap on “My Devices,” then “Add Mobile Number” to enter the phone number you wish to link. Confirm by entering the OTP sent to your phone.

Note: If your SIM is blocked, the best way to resolve the issue is by visiting a Glo customer service center. They can assist with linking your NIN to your SIM directly and help with unblocking your line.

To link Glo to NIN online, use the GLO Nigeria online registration portal.

<<Learn More – How To Transfer Airtime on Glo Via USSD Code

how to link NIN to Glo

Conclusion

You can easily link your NIN number to your SIM card. It shouldn’t be a problem with the NIN link code. Follow the steps we have listed to understand how to link NIN to Airtel, MTN, GLO, and 9Mobile.

Filed Under: Guides [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

Moniepoint Loan – How To Get a Loan From Moniepoint

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Moniepoint Loan is a financial service designed to offer quick financial assistance to those in need. You may be an individual facing urgent expenses.

Or, you may be a business seeking swift cash flow. Moniepoint Loan offers a simple way to access funds. This service is for people or entities that need immediate financial help.

The help is quicker than that of traditional banking loans. Moniepoint understands the urgency of unexpected financial needs.

It strives to offer a helping hand to help its clients overcome their challenges quickly. Moniepoint Loan aims to be reliable.

It focuses on speed and accessibility. It aims to help anyone in need of fast financial support.

Moniepoint Loan

Moniepoint Loan 

Moniepoint Loan is a dynamic financial service. It is designed to provide quick and hassle-free loans to individuals and businesses.

This service stands out. It can meet immediate financial needs through many loan options.

These include personal loans for individuals and business loans for entrepreneurs and companies. These loans help to boost operations or manage cash flow challenges.

Moniepoint Loan has key features that make it an attractive option for those in need of quick financial help. Some of the key features are:

  1. Easy application process
  2. Fast loan approvals
  3. Flexible loan amounts
  4. Competitive interest rates
  5. Convenient repayment plans

How to Get a Moniepoint Loan 

You can apply for a Moniepoint loan in two ways. You can use the USSD code for quick access without the internet. Or, you can use the Moniepoint app for a more detailed process.

Here’s how you can use each method:

Using the USSD Code:

  1. Enter *888# on your mobile phone. This step starts the loan application process from your phone. You can use any type of mobile device.
  2. Look for and select the menu option that allows you to apply for a loan. This option will be clearly labeled in the menu that appears after dialling the USSD code.
  3. Follow the on-screen prompts to provide necessary information regarding your loan application. This includes details such as the desired loan amount and your preferred repayment period.
  4. Complete the process by submitting your application. You’ll then wait for Moniepoint’s approval. It typically comes fast, depending on their criteria.

Using the Moniepoint App

  1. Open the Moniepoint app on your smartphone. If you haven’t installed it yet, you can download it from your device’s app store.
  2. Within the app, go to the “Loan” section. This area is dedicated to loan applications and information.
  3. Moniepoint may offer you pre-approved loan offers. The offers depend on your eligibility and creditworthiness. Review these to understand what you qualify for.
  4. If you’re eligible for a loan, choose how much you’d like to borrow. Moniepoint will outline the most you can apply for. This amount is based on their assessment.
  5. Provide any additional required information or documents to support your loan application. This step is crucial for the final approval process.
  6. Moniepoint will review your application. This review process is typically quick, taking a few minutes to a few hours.
  7. Upon approval, you’ll receive a notification detailing the loan amount and terms. Review these terms carefully, and if you agree, accept the loan offer.
  8. After you accept the loan terms, we will disburse the loan into your Moniepoint account. Then, it will be ready for use.

Moniepoint Loan App Download

To download the Moniepoint Loan App, follow these steps depending on your device:

For Android Users:

  1. Start by visiting the Google Play Store on your Android device.
  2. Use the search bar at the top of the screen to search for “Moniepoint.”
  3. From the search results, select the Moniepoint app. Make sure you choose the correct app, as there may be multiple apps with similar names.
  4. Tap the “Install” button to begin the installation process. Wait for the app to download and install on your device.
  5. Once the installation is complete, tap the “Open” button to launch the Moniepoint app.

For iOS Users:

  1. Go to the App Store on your iOS device.
  2. Use the search feature to find “Moniepoint.”
  3. When you’ve found the Moniepoint app, tap on “Get” to download and install it on your device.
  4. After installation, open the app to start using Moniepoint’s financial services.

Moniepoint Eligibility and Requirements

To be eligible for a Moniepoint loan, applicants must:

  • Be at least 18 years old.
  • Be exclusive to Nigerian citizens.
  • Have a valid BVN linked to their Moniepoint account.
  • They have a history of using their Moniepoint account. They use it for transfers, bill payments, and airtime purchases.
  • Keep a good credit history. Show responsible repayment for past loans or debts.

Moniepoint Loan Approval and Disbursement 

Moniepoint’s loan approval and disbursement process is swift and efficient. It reflects the platform’s commitment to timely financial support for its customers.

Once an application is submitted, the time for loan approval is 24-72 hours. But, it generally follows a quick and simple process.

Moniepoint Loan Limit

Moniepoint provides two types of loans: business loans and overdrafts for individuals.

Business loans offer up to ₦5,000,000.

They may need collateral and a visit to Moniepoint for processing. These loans range from ₦50,000 to ₦500,000. They are for individual with short-term needs and no collateral.

Moniepoint Loan Interest Rate

The interest rate for Moniepoint loans varies. It ranges from 2% to 5%, depending on the loan amount. This rate applies to their overdraft products.

The repayment period for loans extends up to 6 months. These rates are for the quick financial needs of their customers.

They provide flexible and accessible loans for individuals and businesses in Nigeria.

Moniepoint Loan Terms and Conditions

Moniepoint loan terms outline who is eligible. They cover interest rates, repayment schedules, and fees. Borrowers must follow these terms.

This will ensure smooth borrowing and repayment. You should review specific details with Moniepoint. These details include loan amounts and interest rates.

The rates can be from 24% to 40% per year. Repayment periods are also included. This is to ensure you understand and follow their lending policies.

Moniepoint Customer Support

Customers can email Moniepoint at support@moniepoint.com for support. Or, they can email info@moniepoint.com for information.

You can submit an issue by clicking the link provided on their website, and their support team will respond to you as soon as possible.

Also, you can contact them by phone at 0201 888 9990.

Disclaimer: Always consider your ability to repay before taking out a loan. Ensure you fully understand the terms and conditions.

Conclusion 

Moniepoint provides quick and easy loans for both people and businesses in Nigeria. The loans can be for up to ₦5,000,000 for businesses and ₦500,000 for people.

The interest rates vary from 24% to 40% per year. This shows the importance of responsible borrowing.

You should review loan terms carefully and reach out to Moniepoint’s customer support with any questions.

Remember to borrow responsibly, understanding all terms and conditions to avoid financial strain.

Filed Under: Business Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

Top 10 Loan Apps in Nigeria (2024) +User Ratings

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The current inflation in the country also means increased expenses, hence, our curation of the top 10 best loan apps in Nigeria.

Don’t let financial worries dampen your spirit. Thanks to convenient loan apps, getting quick, legal, and secure financial assistance is sure with this list of trusted loan apps.

Ditch the stress and jump straight to convenience with these top-rated loan apps.

Let’s dive in!

<<Recommended – Top Best Loan Apps in Nigeria With Low-Interest

1. Branch Loan App

  • Downloads: 10M+
  • Rating: 4.5⭐
  • Loan Range: ₦2,000 – ₦500,000
Branch loan app

Branch, licensed by the Central Bank of Nigeria (CBN), is one of the best loan apps in Nigeria. This app is known for offering quick loans within minutes.

In addition, the Branch provides personal cash loans. The loans range from ₦2,000 to ₦500,000. The repayment period is 61-180 days.

For more information, you can visit the Branch website.

Carbon Loan App

  • Downloads: 1M+
  • Rating: 4.3⭐
  • Loan Range: ₦1,500 to ₦1 million
Carbon loan app

Carbon is rated 4.3 out of 5 stars by over 1M users. This positions it as one of the best loan apps in Nigeria. Carbon offers loans without collateral, from ₦1,500 to ₦1 million, with a repayment period of up to 64 weeks.

For a 3-month loan of ₦50,000, you’ll pay 2% monthly interest, making the total repayment ₦53,000 after 90 days.

Additionally, we noticed a delay in confirming repayment while testing the Carbon app. You may notice that you keep getting notified to repay your loan even after you have done so.

For more information, you can visit the Carbon website.

3. FairMoney Loan App

  • Downloads: 10M+
  • Rating: 3.1⭐
  • Loan Range: ₦1,000,000 (Individuals), ₦5,000,000 (SMEs)
Fairmoney loan

Fairmoney holds a strong position as a top mobile app for loans as it is licensed by the Central Bank of Nigeria (CBN). It has over ten million downloads and a 3.1-star rating on the Google Play store.

This loan app caters to both individual and business needs. It offers short-term loans up to ₦1,000,000 for individuals and up to ₦5,000,000 for SMEs.

FairMoney simplifies the loan process. They provide quick loans in just 5 minutes without needing paperwork or collateral.

For more information, you can visit the Fairmoney website.

4. Aella Credit Loan App

  • Downloads: 1M+
  • Rating: 3.2⭐
  • Loan Range: ₦1,500 to ₦1,000,000
Aella Credit app

Aella Credit stands out in the money lending market as one of the best. It offers a comprehensive range of personal and business loans.

It offers an interest rate from 4% to 29% per month, catering to loan demands ranging from ₦1,500 to ₦1,000,000.

Aella Credit has over 1 million downloads and a 3.2-star rating. It’s recognized for its competitive interest rates and streamlined application process.

For more information, you can visit the Aella Credit website.

5. PalmPay

  • Downloads: 10M+
  • Rating: 4.5⭐
  • Loan Range: ₦10, 000 to ₦200, 000
Palmpay loan app

The Palmpay loan app enables users to access loans up to N1 million at a 16% annual interest rate. PalmPay offers quick and easy money lending, making it one of the best loan apps in Nigeria.

You can also pay bills and invest in it. The app is available on the Google Play Store and Apple Store. It demands a phone number and BVN for loan applications.

It has a 4.5-star rating with over 10 million downloads.

For more information, you can visit the Plampay website.

6. Opay (Okash Loan App)

  • Downloads: 5M+
  • Rating: 4.4⭐
  • Loan Range: Loans up to ₦500,000
Opay loan app

Okash, under the umbrella of Opay, is a significant player in the digital loan app market. It offers instant loans up to N500,000.

Its interest rates range from 10% to 30% per month. The app facilitates various services, including money transfers, bill payments, and online shopping.

On Google Play Store, it has a 4.4-star rating with over 5 million downloads.

For more information, you can visit the Okash website.

7. Alat by Wema bank

  • Downloads: 1M+
  • Rating: 3.9⭐
  • Loan Range: Loans up to ₦5M
ALAT by Wema loan app

Alat, a product of Wema Bank and licensed by the Central Bank of Nigeria (CBN), blends digital banking with money lending services. The app offers a variety of loans, including salary-based and business loans.

Alat is available for download on the Google Play Store and App Store. This highlights its convenience for users seeking quick loans without traditional banking processes.

It has a 3.9-star rating and over 1 million app downloads.

For more information, you can visit the Alat by Wema website.

8. PalmCredit

  • Downloads: 10M+
  • Rating: 4.2⭐
  • Loan Range: ₦2,000 to ₦100,000
Palmcredit loan app

PalmCredit, with a 4.2 rating on the app store, offers small, short-term loans ranging from ₦2,000 to ₦100,000. These loans come with interest rates between 14% and 24%.

PalmCredit is licensed by the Central Bank of Nigeria (CBN) and is known for its straightforward and quick approval process. It is often completed within minutes. It is a favored option for those needing urgent, smaller loans.

9. CredPal

  • Downloads: 1K+
  • Rating: 3.9⭐
  • Loan Range: ₦5,000 to ₦500,000

CredPal, licensed by the Central Bank of Nigeria (CBN), is rated 3.9 out of 5 stars by over 1,000 users. You can get a collateral-free loan with CredPal of up to ₦500,000 for up to 180 days at 4-9% interest rates.

They also offer a Buy Now Pay Later service for items with a limit amount of ₦100,000, and a limit term of 2 months.

For more information, you can visit the CredPal website.

10. Renmoney

  • Downloads: 1K+
  • Rating: 3.9⭐
  • Loan Range: ₦6,000 to ₦6,000,000 
Renmoney loan app

Renmoney is rated 3.7 out of 5 stars by over 2,000 users which makes it one of the best loan apps in Nigeria. You can borrow up to ₦6,000,000 without collateral and repay in 3 – 24 months.

If you take a loan of ₦2,000,000 for a 12-month tenure, you’ll pay back ₦214,667 monthly. And by the 12th month, you’d have paid back ₦2,567,000.

For more information, you can visit the Renmoney website.

How To Choose The Right Loan App

1. Consider the interest rates and fees

Compare the interest rates and fees across different loan apps. Look for information on the annual percentage rate (APR). The APR includes both the interest rate and any additional fees. It gives a true sense of the loan’s cost.

2. Consider the repayment terms

Make sure you review the repayment schedule options before applying for any loan. Ensure the terms allow enough flexibility for your financial situation.

3. Check the user reviews

As I have done with the list of loan apps above, search for reviews on various platforms, such as app stores, social media, and financial forums. Pay attention to comments about the app’s reliability, customer service, and user experience. Look for patterns in feedback that could show potential issues or strengths.

4. Determine the loan amounts

Determine the exact amount you need before searching for apps. Then, check which apps offer loans that match your required amount. Don’t borrow more than you need. This helps in avoiding over-indebtedness.

5. Investigate the security and privacy

Investigate the app’s security measures and check its privacy policy to understand how your information will be used and protected.

Look for information on their website or in the app description about data encryption. Also, look for information on their website or in the app description about regulatory compliance.

6. Look out for their customer service behaviors and acts

Test the app’s customer service by contacting them with questions or concerns. Check if they are responsive, helpful, quick, and satisfactory in addressing your query.

<<Learn More – Top 10 Instant Loan Apps Without BVN in Nigeria

Loan Application Process

Applying for a loan via mobile apps in Nigeria has streamlined the traditional lending process. It has made it faster and more accessible.

Below are the steps for applying for any loan via mobile apps:

  • Download and install the loan app (after researching and reviewing for the best)
  • Register and set up your profile
  • Complete the application form
  • Check eligibility and submit the required documentation
  • After submitting your application and documents, the app will process your request. This involves a credit check and verification of the information provided.
  • If approved, the loan amount will be disbursed directly to your bank account or mobile money wallet, as per the app’s specific process.

Loan Apps Required Documentation

The documentation required can vary from one app to another, but generally includes:

  • Valid identification. It can be a government-issued ID such as a National ID, Passport, or Driver’s License.
  • Proof of income (optional)
  • Bank account details
  • Some apps may require a recent photo for identity verification purposes.

Loan App Approval Timeframes

One of the advantages of loan apps is their quick processing times. Approval timeframes can vary, but here’s what you can expect:

  • Instant to a few hours
  • Up to 24 hours

Tips for a Smooth Application Process

  • Ensure all documents are clear and legible before uploading.
  • Provide accurate and truthful information to avoid delays or denials.
  • Have all required documents ready before starting the application to speed up the process.
  • Read the terms and conditions carefully before accepting the loan.

Conclusion

To sum up, it’s easier to move around in the money world now because of new ideas. These best loan apps in Nigeria show how things are changing.

As we looked at these loan apps, it’s clear they make it easy for people to have more control over their money.

Filed Under: Business Loans [yotuwp type="channel" id="UCKa64vRWgsmaiTOgO80eFnA" ]

NIRSAL Loan – How To Apply & How To Check NIRSAL Loan With BVN

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NIRSAL (Nigeria Incentive-Based Risk Sharing System for Agricultural Lending) is a lending platform for farmers and people who work with food in Nigeria. Its main job is to help them get the money they need to grow more food and take care of their farms.

Most banks are afraid they won’t get their money back, so, getting money from them will be hard. That’s where NIRSAL steps in. It promises these banks to help if things don’t go as planned, making the banks more willing to lend money.

So, in short, NIRSAL’s purpose is to make it easier for people who grow our food to get the support they need. This way, they can grow more food, make their farms better, and everyone has enough to eat. 

In this article, we will explore the types of NIRSAL loans, eligibility, how to apply for a NIRSAL loan & how to check your NIRSAL loan status.

Nirsal loan website

Types of NIRSAL Loan

Here are the types of NIRSAL loans:

1. Anchor Borrowers’ Programme (ABP)

The ABP is an initiative by the Central Bank of Nigeria. It aims to create a mutual relationship between smallholder farmers and large agro-processors.

The goal is to increase farm output and productivity. Farmers will receive the needed inputs and resources. In return, these farmers supply raw materials to the processors.

This ensures a stable input supply and helps national food security. This program is key because it reduces imports of things we can make here.

2. Agric, Small Medium Enterprise Scheme (AGSMEIS)

This scheme supports the growth of small and medium enterprises (SMEs). It focuses on agriculture and other key sectors.

These include creative industries (arts, fashion), manufacturing, and ICT. AGSMEIS provides loans of up to N10 million at a 9% annual interest rate.

They do not require collateral and the program aims to foster innovation and boost the production of SMEs.

3. COVID-19 Targeted Credit Facility (TCF) Loan

The COVID-19 TCF Loan was introduced in response to the coronavirus pandemic. It provides relief to households and SMEs hurt by the economic downturn.

The facility offers accessible loans. They help beneficiaries manage the financial challenges of the pandemic. The loans support economic activities. They help sustain livelihoods during and after the crisis.

4. Nigerian Youth Investment Fund (NYIF) Loan

The NYIF is a groundbreaking initiative. It aims to harness the entrepreneurial potential of Nigerian youth. The fund seeks to back innovative ideas, projects, and enterprises.

The NYIF is committed to creating a minimum of 500,000 jobs. It offers loans at a 5% annual interest rate. The loans aim to encourage youth entrepreneurship.

They see it as a way to drive job creation, economic growth, and social innovation.

5. Non-Interest TCF Credit for SMEs and Households

This loan has no interest. They are a part of NIRSAL’s response to the needs of SMEs and households. They need financial support but without the burden of traditional interest rates.

These loans are tailored to help build or expand businesses and maintain lifestyles. They are great for those who prefer or need non-interest financial products.

6. AGSMEIS Non-Interest Loan

This is a variant of the AGSMEIS loan. It extends the scheme’s benefits to businesses and entrepreneurs. They seek financing without interest and support business growth.

Additionally, they help businesses in farming, the arts, and other sectors. This promotes economic variety and sustainable development.

Eligibility for NIRSAL Loans

To qualify for a NIRSAL loan, you must fulfil the following requirements:

  1. Applicants must be Nigerian citizens or operate a registered business within Nigeria​​.
  2. Applicants need to be engaged in the agricultural sector or related value-chain activities​​​​.
  3. You need a business plan. It should outline the reason for the funding, the expected outcomes, and the repayment plan.
  4. Some loans may need collateral. Or, applicants might join a group collateral arrangement.
  5. You often need a satisfactory credit score or a good credit history. They show you can repay the loan.
  6. This includes financial statements. Also, you need proof of business registration with the Corporate Affairs Commission (CAC). You also need proof of business ownership and address.

How to Apply for a NIRSAL Loan

You apply for NIRSAL funding through a structured process. Here’s a step-by-step guide on how to apply for a NIRSAL loan:

Step 1: Determine loan or support type

First, find the NIRSAL loan or support program that suits your needs best. Assess the project or business. Check if it meets the eligibility criteria of the NIRSAL program you picked.

Step 2: Gather the required documentation

Prepare all necessary documentation that will support your application. This includes:

  • A completed application form from the NIRSAL website or a bank.
  • A detailed business plan or proposal.
  • A feasibility study or market analysis to prove the viability of your project.
  • Financial statements show your financial history. They include balance sheets, income statements, and cash flow statements. They also include projections.
  • Collateral documentation, if applicable, to secure the loan.

Step 3: Submit the application

Once all your documents are ready, submit your application through one of the following channels:

  • An authorized financial institution or bank that partners with NIRSAL for the disbursement of funds.
  • If you applied through the NIRSAL website. You can use it to submit your application online.

Step 4: Application review

After you submit, the financial institution or NIRSAL will review your application. They will asses your eligibility, the project’s viability, and your ability to repay the loan.

The thoroughness of your submitted documentation plays a crucial role in this step.

Step 5: Funding approval and disbursement

If your application is successful, you will be notified of your loan approval. You will then receive the funding under the conditions outlined in the loan agreement.

You must carefully review the loan’s terms. They include interest rates, repayment schedules, and other obligations.

Note: After receiving the funding, you must follow the repayment plan in the loan agreement. Paying on time is crucial. It keeps a good credit history and future financial eligibility.

Nirsal loan disbursement analysis

NIRSAL Loan Interest Rates and Repayment Terms

The NIRSAL interest rate initially was set at 5% per annum until February 28, 2021. After the moratorium, the interest rate rose to 9% per year.

This started on March 1, 2021. For working capital loans, the maximum period is one year without an option for rollover. Term loans are available for a maximum of three years and include at least a one-year moratorium.

How to Check NIRSAL Loan With BVN

To check the approval status of your NIRSAL loan with your BVN, you can follow these steps:

  1. Go to the official NMFB loan portal.
  2. Look for the option that says “Check Loan Status” on the menu bar at the top of the page.
  3. From the drop-down menu, select the loan program you applied for.
  4. Input your Bank Verification Number (BVN) in the space provided.
  5. Click on “Submit” to view the status of your loan application.

How to Get a Reference Number for a NIRSAL Loan

To get a reference number for a NIRSAL loan, you typically receive it when you apply for the loan.

If you’ve applied and haven’t noted your reference number or need help, the best approach is to contact NIRSAL Microfinance Bank. They can give exact help on getting your reference number.

How to Check NIRSAL AGSMEIS Loan Approval

To check the approval status of your NIRSAL AGSMEIS loan, follow these steps:

  1. Visit the NIRSAL Microfinance Bank (NMFB) official portal.
  2. Look for the “Loan Application” or “Check Loan Status” option.
  3. Enter your BVN (Bank Verification Number) in the required field.
  4. Follow any additional instructions to complete the verification process.

How to Check Your NIRSAL Loan Status

To check your NIRSAL loan status, visit the NIRSAL Microfinance Bank (NMFB) portal or website. Look for a section such as “Loan Application” or “Check Loan Status.”

You will need to enter your Bank Verification Number (BVN) in the specified field. Follow any additional instructions provided to complete the verification process. 

Pros & Cons of NIRSAL Loan

Pros

  • They have a wide range of loan offerings
  • Their rates are competitive

Cons

  • Lots of paperwork for a large amount of loans
  • You need a guarantor to access some loans
  • There is compulsory training for recipients

NIRSAL Loan Frequently Asked Questions

Is Nirsal a loan or grant?

NIRSAL is not a grant. It provides loans for agriculture and related sectors in Nigeria. The aim is to boost growth and sustainability.

How long is the Nirsal loan for?

NIRSAL loan durations can vary. Terms are usually from six months to one year. 

Is Nirsal Microfinance Bank giving out grants?

NIRSAL Microfinance Bank focuses on providing loans rather than grants. It aims to offer money to eligible people and businesses in farming. This support aims to foster growth and development.

Are there any alternative lenders or loan options available for those who don’t qualify for NIRSAL loans?

Although this blog post focuses solely on NIRSAL loan options, there are other alternative lenders within the agricultural space that can provide loans for you. One of these agricultural loan options is the Bank of Agriculture loan.

Conclusion

NIRSAL loans give hope to people in Nigeria’s farming industry. These loans provide the money needed to grow their dreams.

NIRSAL offers different loan choices, and fair interest rates to help people and businesses overcome money challenges and achieve their goals.

Remember, thorough research and understanding of specific eligibility requirements are crucial before applying.

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Disclaimer : Loanspot is not a Lender and we do not offer loans to customers. Loanspot offers Lending Technology Infrastructure to Lenders empowering Lenders to offer loans to their customers Effectively, Securely and at Scale. We are NDPR Certified and Compliant.

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