GUIDE ON HOW TO GET A LOAN FROM FAIR MONEY

GUIDE ON HOW TO GET A LOAN FROM FAIR MONEY
GUIDE ON HOW TO GET A LOAN FROM FAIR MONEY
GUIDE ON HOW TO GET A LOAN FROM FAIR MONEY

Fair money is a money lending organization. A licensed financial Institution that offers instant loans to interested people. Fair money is directed by some Nigerian-French leaders. Fair money operates through their mobile app which can be easily downloaded online. You can download the app on the Google play store. Fair money is passionate about improving access to the financial services they render in the emerging world and going into exceptional depth to understand their client’s pain points.

According to Fair money, they are building the leading mobile bank for emerging markets. And this is obvious in the sense that they have obtained popularity in the market of financial services.

HOW TO GET LOAN INVEST EARN AND ENJOY BANKING SERVICES ON THE JUMIAPAY APP

With their international exposure, (with offices on 3 continents) and their impact-driven mission. They bring financial inclusion to under-banked people in emerging markets.

For about 7  years, a good number of lending platforms have sprung up in Nigeria. Notwithstanding, access to financial inclusion is still a major concern for many Nigerians. Access to credit to cover personal and business costs remains a huge equalizer in the growth and development of the economy. That is; people still find it very difficult to obtain loans when needed. This is caused by many reasons which include; finding a trusted platform to borrow, finding a loan lending organization that don’t require a huge interest rate, and also

At Fair money, the lending of finance products started because of the realization of the fact that there was a huge gap in the market because Nigerians within a certain demographic could not access credit facilities to power their businesses and lives, especially through traditional Financial institutions that are already in existence.

What is a Payday loan- Banks offering Payday Loans in Nigeria

The mission of Fair money, therefore, has always been to serve the needs of as many Nigerians as possible. And, their approach to achieving this involves the provision of millions of Nigerians with loans and capital to meet their immediate needs and in some cases, to grow their businesses and other cases as suitable to the user. And so far, we have acquired over 5 million happy users, 2 million bank accounts, and disbursed over N117billion loans since inception.

HOW TO GET A LOAN ON GOCASH

Fair money Loan Application Requirement

FairMoney Loan: Interest Rates Requirements & USSD code how legit

Obtaining a loan from Fair money is not difficult at all, more especially because you can make registration through the mobile app. The requirements for having a Fair money account are listed below;

  1. Basic information of such users; This includes the name, residential address, occupation, phone number, work details, name of a trusted friend, and email address. Note that when you are providing your details, make sure you provide your correct details. If those details are not correct, you might encounter issues while trying to continue your loan processing. Also, note that it’s preferable to submit your BVN linked number while starting your registration.
  2. Bank account details and bank verification number(BVN); Note that the details here must correspond with the details that you use in the bank.
  3. Automated teller machine card(ATM card); They will request this because it will be used for the payment of your loan.
  4. User’s photo; This isn’t difficult as a printed photo is not required. So far the registration is done on a mobile app, you’d need to use a smartphone or PC whose camera is functioning perfectly.
  5. Loans can only be gotten from the app.

GETTING A LOAN FROM FAIR MONEY

To obtain a loan from Fair money, as said earlier, you must download the Fair money app. Registration can’t be done on a website. And, presently, the app can only be downloaded on an Android phone. This means that you can not use the Fair money app on a PC. You can download this app on your android phone through the play store.

After downloading the app, you are to sign up with Fair money. Here, you will have to sign up with your details. You can sign up directly from Facebook if you have your Facebook account already logged in on your device.

The next thing to do is to answer some questions that would be asked from you. These questions are asked to know your details and for the mobile app to calculate the loan amount that will be offered to you. These questions include your type of job, your salary range, your expenses, the date you receive your salary, and the position you take in your immediate nuclear family. If you have a job that has good pay, you would have the chance to have a good loan amount offer.

After this, your loan amount offer will appear and you’ll click on the one you would want to accept. Then, you will receive the loan instantly. You can get loan amounts ranging from 1,500 naira to about 10,000 naira for a start and as you repay on time without defaulting, your loan amount gets higher and can increase to about 150,000 naira.

The interest rate of Fair money is very flexible, as repayment ranges between 4- 24 weeks. That means you can pay back either with monthly installments, weekly installments, or even daily, depending on how capable you are. The monthly interest rates range from 2% – 28% and the maximum annual APR is 13%.

To repay your loan, there are various ways to do so. At the point of registration, your ATM card details would have been collected and your repayment would be deducted directly from your bank account. You can also pay via bank transfer by paying to the following account details

Account Name: MyCredit

Bank Name: Stanbic IBTC

Account Number: 0023462495.

Make sure you add the code given in the app to your transfer reference/description. Also, make sure you have proof of payment. This can be in the form of a screenshot or a picture. FairMoney is a Nigerian company with headquarters in Europe. You can always trust that your information is safe with them. As they comply with European data security standards. FairMoney will never sell the information you shared to third parties nor can your information fall into the hands of fraudsters.

Fair money does not have any physical branch for now nor do they have a phone call customer centre for now but you can contact them through this email address help@fairmoney.ng. Their official website is fairmoney.ng.

As the name suggests, Fair money’s mode of operation is very fair because Fair money does not take up unnecessary and strict actions against customers who default in repayment of their loan in one way or the other. Some other loan offering schemes take drastic actions against customers to the extent that they post pictures of their customers on the internet as dead or as loan defaulters.  Fair money is therefore an advisable platform to go to when in need of money.

 

You Might Also Like

Leave a Reply