You might be asking yourself, “How can I get a loan without collateral?”.
When you need money fast and can’t wait for a loan from a friend or family member, it may seem like there aren’t many options left. However, there are actually several lenders out there who specialize in providing fair subprime loans to people without collateral.
These lenders understand that not everyone has an asset they can offer as collateral and so they’re willing to work with you on alternative ways of demonstrating your ability to repay the loan.
FairMoney launched in early March 2018 is a digital banking App in Nigeria that gives its customers a clean and stress-unfastened manner of lending money without collateral and the application process is done smoothly online.
Prior to its launch, FairMoney was capable of assisting a lot of Nigerians and Nigerian organizations inch a chunk closer to their goals by providing them with monetary backing they couldn’t afford at the time.
And as such, the digital banking platform has made it possible for individuals and small organizations to thrive even when they have no money.
The FairMoney Loan Craze
The FairMoney loan platform offers an extraordinary way to get a loan in Nigeria without collateral.
With FairMoney Loan, you could get an immediate mortgage of up to ₦1,000,000 with no need for any paperwork or collateral.
This makes FairMoney Loan an excellent option for those who may not have the required collateral for other loan options.
FairMoney runs on both web and Android or IOS versions enabling you get entry to important financial acquisitions. It is speedy, dependable, secure, and maximum of all, free!
The FairMoney Loan Craze is a recent craze that has swept the nation. People are borrowing money through the use of mobile apps.
In plain, FairMoney is a banking app that makes getting loans and paying back very speedy and clean.
How Much Can I Borrow from FairMoney and for How Long?
You can get a FairMoney Loan for amounts ranging from N1,500 to ₦1,000,000 with repayment terms of up to 60 days. And you can get a FairMoney Loan for as long as you need it, with a repayment period extending far above 3 months to as far as 12 months.
Also, the monthly interest rate is also between 10% and 30%. There are no longer any additional fees or hidden costs when processing your FairMoney loan.
FairMoney Loan Requirements
There are no requirements for obtaining a FairMoney mortgage. Simply download the app and begin processing your loan. This is done without rigorous due diligence such as documentation and collateral, but if you have a good credit score, you are good to go.
And what exactly do I mean by “good credit score?”
FairMoney requires prior banking experience via what I will refer to as traditional-digital banking integration, which can be accomplished via your BVN (Bank Verification Number) or Internet Banking.
That’s all there is to it. You are eligible for a loan once the validation is complete.
How to Apply for a FairMoney Loan
- Download the Android and iOS apps from the Google Play Store or Appstore, depending on your device.
- Sign up with the Forsige promo code ‘ZU6EM‘ to be eligible for N1000 in rewards and other future opportunities.
- Create a profile by inputting your details if you’re a new person, or start applying for a loan if you already have an existing account.
- Within minutes, you will be credited with money to your bank account.
Obtaining a loan on FairMoney is a simple and, of course, completely trustworthy procedure that can be carried out by anyone.
FairMoney Pros
- FairMoney loans are processed in minutes.
- There was no desire for collateral or guarantor.
- The repayment date can be pushed back.
- The interest rate is low.
- Excellent customer service in the event of a problem.
- Aside from the loan service, there are more App features to help you bank digitally.
FairMoney Cons
Too many promotional emails from Efe.
