Fair credit loan app can provide you with a loan instantaneously within Nigeria that does not require collateral and papers. The process for processing loans is rapid once you have been successful. Your account will be debited and make sure you don’t spend time. Fair credit loan allows you can avail of up to 200,000 dollars in loans in a single start
Table of Contents
The requirements to apply for a loan fair credit loan application
Here are the requirements you need to satisfy before you can get a loan through this app.
Have a bank account and BVN
Find a source of income
Have a great credit score
You cannot have been in default on any loan in the past.
You must be over 18 years old
A smartphone that allows you to download the application
Fair Credit Loan App
How can you obtain a loan through fair credit
Step one is going to the play store
Download the app, and then sign up using your username and additional information.
If you are asked to upload your BVN to do this and then proceed
Your BVN is used to determine your credit score as well as how much you’re qualified to borrow.
Once you’ve completed your registration, you’ll be able to able to log in to your account
In your dashboard, locate and click on the loan
Here you will find the amount of loans you can get
Click here for this loan, and then wait for the loan to be paid.
If all goes well, you will see a credit alert within 1 hour time.
The amount you can borrow through this loan application
With a credit loan, you can receive up to 200,000 dollars in loans without collateral or paper. For a new borrower, you may not be able to make the amount, but as you continue to borrow money and pay it back regularly, the amount that you can get will rise.
The interest rate for Fair credit loans and repayment term
The interest rate ranges from 5 to 30 percent dependent on the amount of loan obtained along with the credit scores of the loanee.
The repayment time frame also depends on the loan amount you obtained, and it ranges from 14 days and 30 days.
The repayment of your fair credit loan
You can repay the loan by ATM card or request the account number of your bank and transfer funds to it. If you transfer money, make sure your account is in good order to make sure you don’t get caught in a story that touches you.
On your dashboard, locate the loan repayment option and click on it.
You will also see deferred payback options.
Choose the one you like and continue
The payment will show up on your dashboard
If they don’t respond.
What happens in the event of a default
If you default, you’ll be punished by an increase in interest rate, and if you fail to repay your loan, the loan, your name as well as BVN will be sent to a credit bureau to be blacklisted, which means that you won’t be able to obtain a loan from Nigeria until you have paid off your outstanding debt.
Is fair credit loan legit
Yes, the loan is genuine They provide loans to individuals without asking for any fee as a processing fee. However, they’re not licensed by CBN or insured by NDIC therefore, you should be careful when you are taking loans from them.
Contacts for Fair Credit Loans
Customer service phone
012271660
The verdict of fair credit loans
Fair credit loans can provide you with a loan however if you fail to pay it back, it will cause problems. They may send defamatory messages to your contact list to make you appear less reputable, so use care when you take out a loan.
If you have to take a loan from this app, you can take out a loan you can repay. Reviewing their website on the Play Store, you’ll see that they have a lot of negative reviews.
Conclusion
This is how you can get credit from Faircredit, however as you can tell, they offer loans to individuals but in the event of a default, there could be problems so be careful when you apply for a loan through this application to avoid embarrassing yourself.
Additionally, they do not have a license from CBN so if one issue occurs, it could take time before they will be able to interfere.
