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Home Loan Download Nairamine Loan App Apk For Free

Download Nairamine Loan App Apk For Free

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NairaMine loan app is a Nigerian microlender offering rapid and safe loans. The mobile app lets customers take out up to N80,000 insecurely without collateral or documents.

Unsecured loans are one type of loan that doesn’t require collateral or a downpayment to get. It’s usually short-term and has exceptionally high rates of interest.

The Nairamine loan app will assist business owners in expanding their business and aid individuals who have urgent needs like utility bills that are not paid or car repairs in emergencies in the family. You can address critical requirements with their instant credit facility.

On the Nairamine loan app, there’s no long waiting, no long line, and no need for collateral. You just need an iPhone to access the instant money, which is then deposited directly to your account at the bank.

Don’t borrow money from an online loan application for your lifestyle. A short-term loan is helpful for situations of emergency, but it can be costly compared to longer-term loans. They should be treated with care.

The NairaMine loan app helps you get personal loans quickly, using the information on your phone that includes your details to confirm your identity and create credit scores.

A loan in Nigeria through banks and other official sources is lengthy and time-consuming. It requires documents like collateral, which many people still need to get. That’s why services like this are highly beneficial, particularly in times of need.

While the app is relatively new, the customer’s feedback is positive. The app has been downloaded over 50k times on Google Play Store, with mixed reviews. It utilizes loan software to collect information from prospective customers such as phone numbers, bank transactions, and BVN and credit rating of every borrower.

To be eligible for more significant amounts, keep a record of your bank transactions on your mobile, and don’t have any outstanding loans with other lenders!

How to download APK and receive a loan from the NairaMine loan app

  • Download the personal loan NairaMine App on the Google Play store and install it on your Android phone.
  • Make an account by entering your mobile number.
  • The preferred phone number connected to the BVN as a unique password will be provided to the BVN to verify your identity.
  • Input your basic Know-your-customer KYC details, including your residential address, next of kin, and employment information.
  • Additionally, you will be asked to submit your Biometric Verification Number BVN.
  • It will cost you N30 to tie the ATM debit card to your account to improve your chances of getting more money.
  • One-time security code OTP is sent directly to your mobile to verify your information.
  • After submitting a loan application, the program will examine your credit score. The final results will be displayed in the application.
  • The final result should be available within less than 2 minutes. If you’re eligible for a loan, the amount will be deposited to your bank account in approximately five minutes.
  • You must ensure you’re using a quality phone with sufficient memory capacity, as you’ll be required to snap an authentic live selfie for identification.
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It is important to note that affixing your ATM card by using N30 does not assure you that you’ll be able to receive a loan. However, it would help if you still got a credit score.

The N30 charged to bind the ATM credit card with your bank account can be refunded. It can take between 7 and 12 business days for the funds to be returned to your banking account.

Your BVN is tied to your credit rating. So you can expect to be denied if you have an outstanding loan with another lender or fail to pay any other lender on time.

A credit score is a summary of previous loans, the amount of time you pay your bills, and cash transactions that go in or out of the bank accounts and other data.

After downloading this app, you must agree to it to access your phone book contacts, which can serve as your guarantors. Also, you can use text messages to view your banking transactions and applications on your phone that check how you’re using different loan applications and other information it utilizes to increase your credit score.

While NairaMine offers loans to specific customers, there have been complaints that the app revoked funds from their accounts after binding their ATM cards. So be cautious when you use this loan app.

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Is the NairaMine loan app legitimate or a scam?

The NairaMine loan app is a legitimate loan application that offers micro and medium-term loans that can reach N80,000 to its customers. However, it is a bit expensive in terms of interest and bugs that impede easy registration. Be cautious before applying for any loan online. Be sure to read other customer reviews before using for loans in Nigeria.

It is essential to know that these loans aren’t registered or controlled through CBN, CBN, or any other government organization within Nigeria. You are accountable for your security when you make transactions using them, and you cannot claim redress for lousy customer service.

Additionally, its presence in the Google Play store doesn’t ensure that transactions on it are safe. The play store is an opportunity to download, and you are accountable for your security by using loan apps in Nigeria.


  • Registration is simple.
  • It is not a way to denigrate clients when they fall short of repaying their loans. This is in contrast to other loan applications that operate in Nigeria.
  • Students can use this in the event of an emergency.
  • It’s real; it’s been confirmed by the admin that they offer loans.
  • Online, no need for collateral.
  • A large loan amount, as high as 80K.


  • A short loan period begins in just seven days, specifically for those new to the loan.
  • High-interest rates for tiny amounts of loans.
  • High rate of rejection.
  • The app is only compatible with Android smartphones.
  • Problems with networking that could hinder card binding

When you take out a loan, be aware of the repayment schedule. If you are taking a 60-day loan with two installments of repayment, it could be that the app tries to debit your account automatically at the due date of the first installment and may make overdue charges before the expiration date of your 60 days.

You can modify your ATM card’s password to stop auto debit. The app was reported to purposely auto-debit customers, even after completing bank transfer transactions.

Since there are no laws in Nigeria, most applications are from loan sharks. They could threaten to send messages to your family members calling you a fraudster when you fail to pay your loan. Avoid these apps if there are other alternatives.

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If you’re being harassed or bullied by loan sharks in Nigeria, check out the following Group on Facebook in which you can get help and read about the experiences of others who loan applications have victimized.

What do other borrowers have to say about the Nairamine loan app?

Tejiri Uwuseba posted, “This app has nothing to do with anything more than an illegal app. How do you obtain a loan of 6500, and repay 10,000 in only 7 days? You are paying more than 50% interest on 6500 in 7 days time frame… These individuals are fraudulent and should be reported CBN …. It’s nothing but exorbitant.. I’m sure the people providing positive reviews here are employees and not their clients… It’s most hilarious part is when they begin calling you and pestering customers to make payments even though the loan isn’t due. 1 star is way too much for you folks.”

Ahmed Sule Ayogho wrote, “The interest is too high pls look into it.”

Odesanmi Temitope wrote “This app is good.”

Rate of interest?

Loanable amount: N 5,000 – N 50,000-Loan term: 91-180 days

The minimum annual rate of interest is 21%, and its maximum (APR) will be 26 percent (no additional charges)

-Daily rate: 0.06%-0.07%

For instance, if it is NGN 10,000, the loan will have a duration of 120 days and an interest rate of 21 percent.

The amount of the payment is calculated using the following formula:

Amount of loan * Interest rate/number of days * Amount of loan (10,000 * 21%/ 120 * 365 + 10,000) = NGN10,690

For instance, if the amount of the loan is NGN 10,000 with a tenure of 91 days and an interest rate of 26 percent

The amount of the payment is calculated using the following formula:

Amount of loan * Interest rate/number of days * Amount of loan (10,000 * 26 percent / 365 * 991 + 10,000) = NGN10,648

Be aware that this rate of interest and loan term is only an example. Expect your actual loan amount and duration to be less; however, you can increase the quality of your loan by paying back the loan in time and maintaining a good credit score.

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