My Naira Loan App is one of the digital lending platforms in Nigeria that is designed to provide quick access to loans to the financially underserved or excluded population.
The mobile app makes it easy for individuals to access loans, pay bills, and do other financial transactions. This article will discuss the My Naira loan app – USSD code, interest rate, and repayment in detail.
What is My Naira Loan App?
My Naira Loan App is a digital lending platform that provides personal loans to individuals in Nigeria. The loan app is designed to help people access loans quickly without a lengthy application process. The app is available on both Android and IOS devices, making it easy for users to access loans and other financial services on the go.
My Naira loan app was developed by Moneypal Technology Limited in 2019 to provide loans to Nigerians who are underserved or excluded from traditional banking services. With a core objective of promoting financial inclusion through technology, the app has become one of the most popular digital lending platforms in Nigeria.
USSD Code for My Naira Loan App:
My Naira Loan App is accessible through USSD codes, which makes it easy for individuals with basic mobile phones to access loans. To access the My Naira loan app through USSD codes, dial *347*348# on your mobile phone and follow the prompts to sign up on the platform. Once registered, you can apply for loans and access other financial services available on the app.
Interest Rate on My Naira Loan App:
The interest rate on My Naira Loan App varies depending on the repayment period and the amount borrowed. The interest rate ranges from 4% to 34%, and it is assessed on a case-by-case basis. The interest rate is communicated to the borrower before the loan is disbursed, and it is included in the repayment plan.
Repayment on My Naira Loan App:
Repayment of loans on My Naira Loan App is a crucial aspect of the lending process. The app offers flexible repayment terms, allowing borrowers to choose a repayment plan that suits their financial situation. Repayments on the app can be made through different channels, including bank transfers, debit cards, and USSD codes.
The repayment period for My Naira Loan App ranges from 7 days to 6 months, depending on the loan amount and repayment plan chosen. Borrowers can choose to pay back the loan in a single installment or multiple installments, depending on their preference.
In conclusion, My Naira Loan App is a digital lending platform that is designed to provide quick access to loans to individuals in Nigeria.
The app is accessible through USSD codes, making it easy for people with basic mobile phones to access loans and other financial services. The interest rate on the app varies depending on the loan amount and repayment period, and borrowers can choose a repayment plan that suits their financial situation.
My Naira loan app is an efficient and effective way of accessing loans in Nigeria, and it is recommended for anyone looking to access quick loans.