Mynaira loan app can give you a loan instantly in Nigeria without any collateral or paperwork, you don’t have to visit any place, using your mobile phone, you’re ready to go. Through Mynaira loan app, you can get up to 50,000 Naira loan in a single.
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The loan application form must be completed. Mynaira loan application
Below are the conditions you have to meet before you can get a loans through this app. they are
Have a good credit score
Have a bank account and bvn
You must be over 18 years old
Have a source of income
You must have a smart phone to download the app for loan
How do you apply for Mynaira’s loan
The first step is to go to Google Play Store then download the borrow application
Start the app and sign in using your name, bvn and other information
You’ll be asked to tie your ATM card to avoid a the fee of $30, so do it and continue
After registering, you will then be logged in to your dashboard
Find your dashboard and click on the loan
You will be able to see the what amount of loans you can get
Just click it and wait for the disbursement
How much can you borrow from Mynaira loan application
My naira loan application is the newest kid in the making It is a new app and the highest amount you can get from them is $50,000 in fact , if you’re first-time users you will not be able more than this amount, but when you continue borrow money and pay it back on a regular basis, the amount you are able to get will increasing.
Mynaira rate of interest and repayment time
The interest rate ranges from 15%-30 percent per year, based according to the value of the the loan secured. The period of repayment is 7 days and 1 year. I don’t believe it’s more than one year. Their real interest rate is between 7 and 90 days.
If you’re getting a loans in the beginning, you’ll experience a rates of interest will be very excessive and your repayment may be minimal, however, as you continue to make use of the app, the rate will decrease.
Paying back your Mynaira loan
This loan app follows the exact procedure.
Logging in to your dashboard
Find and click on the loan rewound
You will find a deferent payment options like ATM as well as bank transfer.
Choose one, and pay
When you pay the payment, it will show on your dashboard
If it is not, then you must contact them immediately.
What happens when I fail or refusing to pay
If you default , you’ll be penalized with an the increase in your loan’s interest rate. If you do not repay, they could send a an infuriating message to your contacts that I believe is worth it.
Additionally, they will forward your name as well as BVN to the credit bureau to be blacklisted, which means that you won’t be able to apply for a loan again from Nigeria until you have paid off your debt and clean your name with the credit bureau.
Is mynaira loan legit
Mynaira’s loan app is genuine and they’ll surely grant you a loan, but they do not licensed by CBN or insured by NDIC.
Our verdict on mynaira loan app
Like I said, the mynaira loan app is genuine and they’ll surely offer you a loan. They have a good rating on Play store, perhaps due to the fact that they’re still in the beginning stages of development.
There are more than 10k downloads. The only thing I did not dislike about this app is that the processing fee are outrageous. They range from 6 – 24%. Haba! It’s excessive. Then they compensate it with the interest rate, which is 0.5 percent per month.
This is how you can get the loan through mynaira loan app. As you can see , this loan app means business they’ll surely provide you with a the loan, however you must take loans that you are able to pay back, so that you don’t have to pay back and embarrassment.