Online lending app in Nigeria
FAST MONEY - Quick Online Loans APP in Nigeria
is a
free-to-use
financial app
that operates in Nigeria. As an online
loan
platform, it allows eligible users to access emergency funds
up to 300,000 naira
, and with flexible payment terms. More importantly, it supports a fully online process, from registering for an account to applying for a loan. Packaged in an
intuitive app layout
, this is something even non tech-savvy users can enjoy.
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While there’s not much concern about the app since it works just fine, the biggest challenge with FAST MONEY - Quick Online Loans APP is its
exaggerated fees
.
Access extra funds, fast
In terms of app layout, FAST MONEY - Quick Online Loans APP sticks to
a streamlined design
without using too many effects and styling. You start by
registering for an account,
which can be done entirely on the app. Unlike other loan apps in the African nation, it doesn’t require a lot of documentation to get verified. It only requires an ID, bank details, and your
bank verification number
.
Eligible users can borrow anywhere
from 30,000 to 300,000 NRN
, with payment terms ranging from 91 days to 360 days. This makes borrowing funds convenient for users. It even advertises
in-app promos
, such as cash coupons released upon completing certain tasks. For example, users can enjoy 1,000 NRN off from their loan or a 20 percent discount on their next installment, incentivizing on-time payment.
While the transactions are mostly accessible and convenient for users, it’s worth noting that this loan platform imposes
hidden fees and excessive interest rates
. While it advertises loan interest rates, this can’t be further from the truth. Missing payments also mean getting a lot of calls and messages, with users reporting the platform resorting to
harassment and threats
to get the borrower to pay.
Use with caution
While it remains operational and with an unusually convenient loan application process, FAST MONEY - Quick Online Loans APP should be used with caution. From the technical side of the app, it works just as well as any other online lending platform. Facilitate all transactions online, choose the amount and payment terms that suit your needs, and more. However, make sure to assess the fees and rates involved.