Menofund Loan, How to Apply, Interest rate, more

Menofund is revolutionizing the lending industry in Nigeria by providing instant collateral-free micro loans through a user-friendly web and mobile app.

This blog post covers the details of Menofund loans, the interest rates, repayment periods, and a step-by-step guide on how to apply for a loan.

Company and Loan Details

Company: Meno Finance Ltd
Website: www.menofund.ng
Contact: www.menofund.ng/#/faq
Privacy Policy: www.menofund.ng/#/privacy
Loan Amount: Up to N300,000
Interest Rate: 20% (30-day loans), 40% (60-90 day loans)
Loan Period: 61-90 days
Maximum APR: 40%

Interest Rates and Repayment Terms

Menofund offers flexible interest rates and repayment terms for its micro loans:

• 30-day loans have an interest rate of 20%.
• Loans with a duration of 60 to 90 days have an interest rate of 40%.
• The minimum repayment period is 61 days.
• The maximum repayment period is 90 days.
• The maximum annual percentage rate (APR) is 40%.

Example: If you borrow N100,000 for 90 days, you will pay back N140,000 (N100,000 + 40% interest).

How to Apply for a Menofund Loan

1. Download the Menofund app.
2. Register on the app using your phone number and email address that are linked to your income bank account.
3. Check your inbox or spam folder for the Menofund verification email.
4. Follow the one-time new user verification process stated in the verification email.
5. Log in to the app and borrow money based on your credit limit.
6. Pay back the loan within the stipulated period.

Note: If you are a new user, your credit limit will remain 0 until your one-time new user verification process is approved by Menofund. This may take up to 48 hours after you have completed the verification process.

Avoid Multiple Registrations

Ensure that you do not attempt to register more than once to avoid blacklisting.

Conclusion

Menofund is an innovative solution for Nigerians seeking instant collateral-free micro loans.

With flexible interest rates and repayment terms, Menofund provides a convenient platform to access funds for personal and business growth. To learn more about Menofund and apply for a loan, visit www.menofund.ng.