IMoney is a loan provider in Nigeria that lets in eligible users to use for and reap immediately private loans. This publish is all approximately how to get a mortgage from iMoney, the way to pay off, the interest rate, loan requirements, and lots of more.
What is iMoney, and the way does it work?
The iMoney app is a mortgage offerings provider that offers speedy and dependable loans for people without any paperwork or collateral. With your Android telephone, you may reap a loan quantity up to ₦500,000.
The mortgage application technique could be very clean, you simply need to fill in all important details surely. However, you most in all likelihood received’t be allowed to reap up to the maximum quantity in case you are a brand new person.
But as long as you continue to reap loans and also you pay on time, your credit rating will boom, whilst additionally upgrading your loan limit.
IMoney loan requirements
It is important which you realize the necessities and get them ready before you start your mortgage application at the iMoney cell app.
The more eligible you are, the quicker it would take to your mortgage utility to be approved. You can see the requirements underneath.
An Android cellphone (iMoney isn’t always to be had for iPhone devices)
You ought to be as a minimum 18 years old
You must be a citizen and resident of Nigeria
The applicant have to have a reliable monthly source of earnings
Your phone variety will also be needed
The bank account wide variety with which you’ll get hold of the borrowed amount
Your Bank Verification Number (BVN)
If you’ve got some of these requirements, then you definately are suitable to go. Just down load and installation the iMoney cellular app.
How to download the iMoney mobile app
You can download and install the iMoney Mobile app without delay from the Google Play Store. It has a small size of 7.6 MB and over 1 million downloads. It currently has a overview score of four.3 from over 34,000 customers.
How to get a loan from iMoney
Once you install the app, follow the stairs below to create your iMoney mortgage account.
Launch the app
The login and signup display could be shown
Sign up with your valid phone number
You will acquire a One Time Password (OTP). Enter the code to proceed
Fill on your common month-to-month income, Bank Verification Number (BVN) and other necessary info
Press the publish button and welcome to your dashboard
From your dashboard, you may view your profile, achieve loans, pay off loans and display your credit score score. To get a mortgage at the iMoney app, go through the subsequent strategies.
From your dashboard, navigate to the mortgage software segment
Select the quantity you want to achieve from the iMoney loan carrier. You can get among ₦5,000 to ₦500,000
Set your reimbursement plan. The shortest compensation term is 3 months, and the most is 6 months
Provide your account information
Cross-test all over again and put up
Your mortgage application could be reviewed, after which authorized or rejected.
How can I boom my chance of being usual for iMoney loans?
IMoney makes use of statistics stored for your phone, alongside information from other assets. This information is what’s used to simply accept or reject mortgage packages.
To growth your chances and price of approval, make certain to save the records in your cellphone, keep accurate credit with all other lenders, and efficaciously input your account details.
How lots mortgage can you get?
On the iMoney mobile app, you can get a mortgage among ₦five,000 to ₦500,000. You can’t achieve more than this quantity from iMoney.
IMoney mortgage compensation tenor
iMoney has a bendy repayment schedule. As a user, you may set your repayment plan to your choice.
You can repay your mortgage within three months (91 days) to six months (180 days).
IMoney hobby price
iMoney mortgage carrier prices an interest price of 12% to 36% each 12 months. Here is an example for a higher expertise of the breakdown.
If to procure an quantity of ₦5,000 at the iMoney mobile app and you set your repayment term to be 6 months, your:
Interest charge is eighteen%
Interest quantity may be ₦900
Total amount to be repaid may be ₦5,900
Repayment of loans
Early charge is permitted on the iMoney credit platform. This will growth your credit score score and upgrade your mortgage restriction.
To pay off your loan on the iMoney app, follow the steps below.
Launch the iMoney app to your phone
Click on “My Loan”
Select one in every of your loans
Press the “Repay In Advance” button
The records will be automatically loaded. Confirm if they’re correct
Tap on “Repay now”
Select your chosen Repayment method
On the subsequent web page, click on “Repay now” and entire your loan repayment
iMoney Head office
iMoney has a head office in Nigeria. From this workplace, they maintain the iMoney mortgage service and additionally attend to customer issues.
Their head workplace is located at Sapetro Towers 1, Adeola Odeku Street, VICTORIA Island in Lagos, Nigeria.
IMoney patron care and electronic mail address
For proceedings and enquiries, you may usually contact iMoney customer support thru their electronic mail deal with.