The Bear wallet loan application will provide you with a loan instantaneously in Nigeria without any collateral or paperwork, you don’t need to go to any spot to receive this loan. Using your mobile phone, you’re all set. The app Bear wallet loan you are able to get up to $500,000 in loans at once.
Table of Contents
The requirements to get a loan from Bear wallet
Below are the conditions you have to comply with prior to obtaining a loans from this app.
Have a great credit score.
Reside in Nigeria
Have at least 18 years old
Have a bank account, and Bvn
Have a source of income
A smart phone that allows you to download the application
How do I apply to get a Bear the wallet loan
To apply for a Bearwallet loan, go to the store on play to download the lending application
Sign up with your name, your bvn, and other information
Then you will be asked to tie your ATM card, which could result in a the fee of $30, so do it and then proceed.
After you have completed your registration, you will have a in your dashboard.
Find your dashboard and click on the loan
You will be able to see the what amount of loans you can qualify for.
Accept the offer and then sit back to wait for the disbursement
What is the maximum amount you can get from the Bear Wallet loan app
With Bear wallet you can access up to $500,000 with no any collateral or paperwork, as a first-time user, you won’t be able to make payments up to this amount, but as you use the app, the amount will rise.
Interest rate for Bear wallet loans and repayment time
The rate of interest for bear wallets ranges from 10% to 15% based upon the size of the loan that is secured. The repayment time range is seven days and 90 days.
If you’re first timers, the interest rate you pay will be higher and your repayment time will be limited. If you keep using the app, this will decrease.
You must pay back your Bear credit card
To repay your loan, go to your dashboard
Find and click on Repayment of loan
There are deferent options for repaying the loan
Select one, and then pay your bill
When you pay, it will be reflected on your dashboard
If not work, you should get in touch with them.
What happens when I fail or do not pay back
If you fail to pay on your loan, you’ll be penalized by increasing your rate of interest on your loan. In the event that you choose not to repay at all, your name, bvn number and other details will be submitted to the credit bureau to obtain a black listing.
This means that you won’t be able to borrow for the next time in Nigeria until you have paid the loan back and clean your name with credit bureau
Is Bear credit card legitimate?
Yes, the Bear wallet loan is legal and they offer loans to individuals who reside in Nigeria However, they are not licensed by CBN or insured by NDIC
Our opinion on Bear wallet app for loans
Bear wallet’s loan application is sure to provide you with a money. There are positive and negative reviews on the Play Store. Before you can get a loan through this app, you will need to pay a service fee of $8, which isn’t too much.
The only issue they face is that they do not have a licensed by CBN so be careful when using this loan application.
Here is how you can get loans from Bear the app for wallet loans As you can see, they’ll definitely give you loans, but make sure you don’t borrow more than you’re able to repay to avoid having embarrassment and shame.