Requirements
To get a loan from Nairago, you need to be:
1. A Nigeria Citizen
2. Between 18-65 years old
3. Regular source of income
Product Features
1. Loans Amount: ₦8,000 to ₦200,000
2. Loan Tenure: 91 days ~ 365 days
3. APR: Minimum 12% to Maximum 50%
4. Service fee: 0%
Breakdown
Example: If the loan amount is ₦5,000 and the APR is 36.5% per annul with a tenure of 180 days, the services fee is 0%:
Interest = ₦5,000 * 36.5% / 365 * 180 = ₦900
You will get ₦5,000 and should repay ₦5900 (5,000 + 900)
Lapo USSD Code, loan Interest Rate, Repayment, Application Form
Repayment Example:
If you choose to make a one-time repayment, then you will make a one-time repayment of ₦5900 after 180 days.
If you choose to make monthly repayments, your monthly repayment amount will be ₦5900/6 = ₦983
How to apply for a loan on Nairago:
1. Sign up
2. Fill in basic details
3. Apply for a loan
4. Wait for approval
App download
You can download the Nairago app from the play store
Read This: How to borrow money from palmpay – Loan USSD Code, App Interest Rate
NairaGo Contact Address
Any questions about using Nairago, please Contact:
Email: help@Nairago.cc
