GoldNaira Loan: App Download, How To Apply

GoldNaira Loan is a Nigerian company that grant quick and instant personal loans without document or collateral.

GoldNaira is among the numerous payday loan applications on Google Play Store that provides short-term loan options in Nigeria. For those who are an Android user then you can apply for the collateral-free loan. The application process is entirely online.

GoldNaira is still relatively new to the market and has only about 7k downloads on the Google Play Store but it has mixed opinions. It makes use of a loan application to gather customer information including phone records, bank notifications of transactions and BVN and credit scores of every borrower.

If you want to be eligible for loans or other amounts, make sure you keep a record of your bank transactions on your smartphone and don’t have any outstanding debts on other loan applications!

The application is easy, simply download the application from the Google Play Store and enter certain details about yourself The algorithm will then analyze the information you provide and determine your credit score, and then make an offer for a loan within a matter of hours.

How do you download the APK to receive a loan from GoldNaira Loan app

• Get this GoldNaira Application only available through the Google Playstore and install it on the back of your Android phone.
• Make an account by entering your mobile number.
• It is recommended that the number you have linked with your BVN as a one-time password will be provided to the BVN to verify your identity.
• Complete your essential Kwow-your customer KYC details, which include your residential address, your next of kin information and details about your job.
• It is also need to supply you with your Biometric Verification Number BVN.
• It will cost you N30 to tie an ATM account to the bank account to improve your chances of getting more money.
• One-time security code OTP is sent directly to you mobile to verify your information.
• When you submit your application to borrow, application will examine your credit score. The final results will be displayed in the app.
• The results should be visible within less than two minutes. If you are eligible for a loan, the amount will be deposited to your bank account immediately.
• Be sure to use an excellent phone that has enough memory capacity as you’ll be required to snap an unobstructed live selfie to identification purposes.

Your BVN is connected to the credit score you have. So should you have an outstanding loan with another lender or did not pay your other lenders on time you can expect to be denied.

Credit score a summary of previous borrowings and the time you pay your bills cash transactions coming into as well out of your account and other data.

After you download the app, it will have access to all your phones book’s contact information along with SMS and other information it utilizes to increase your score on credit.

Are GoldNaira loan app legitimate or a fraud?

The answer is yes, GoldNaira App is genuine and does offer loans, however caution must be exercised prior to taking any loan online. Read reviews of other customers prior to submitting an application for an loan in Nigeria.

You must be aware that these loan applications are not regulated or registered through CBN, CBN or any other government organization in Nigeria. You are accountable for the security of your transactions using them , and there’s no recourse to redress poor customer service.

Its availability in the Google Play Store does not ensure that transactions made on it are safe. The store is merely the possibility of downloading but you are ultimately responsible for your own security using loan applications in Nigeria.

What GoldNaira loan application could you improve?

The duration of loans is very limited You only have six days to repay your loan and interest. While the app claims to offer higher amounts of loan with longer terms for customers who have been repeat customers, there’s no guarantee of more time to repay your loans.

The process of distributing the loan is also extremely slow and can take anywhere from a few hours to days. Some customers have complained that their due date had begun to count prior to the date they got the loan.

GoldNaira also comes with a high rate of rejection for applications. If you receive a textmessage, it’s only an ad campaign, and doesn’t mean you’ll get an loan.

Since there are no laws in Nigeria and the vast majority app developers are loan sharks that could threaten to send out messages to family members of yours accusing you of being a fraud when you fail to pay your loan. It is recommended to stay clear of these apps if there are other alternatives.

GoldNaira loan app interest rate?

Time of loan: From 90 days until 365 days.
The loan amount ranges between N5000 and N 500 000.
The total interest range ranges from 24% to 2 percent. The monthly equivalent interest ranges between 1% and 22%, and APR is 12 to 24 percent.

Example Interest calculation
If you are able to borrow N10,000 and then decide to repay the loan in 3 months the monthly interest and service costs is 1%, for three months, which is 3 percent. This means that we will be charging you 300 interest for the entire period of repayment.
The total amount of your repayment will be N10,000 plus N10,000 + 3% = N10,300.
The monthly amount you pay will be (N10,000 + N10,000 3%) 3%)/3 = N3,433.

This rate of interest and time is intended to be an example, you can expect the amount and duration of your loan to be much shorter when you’re borrowing for this first time. You may be able to increase the amount by keeping accurate record and paying off your loan in full.

What are the conditions?

• Legal citizens or a legal resident of Nigeria
• You must be at the age of 18.
• A monthly income source.
• Make sure you connect your ATM card onto your account
• Give the details for two kin including their contact numbers.
• A good credit score without any outstanding loan from lenders.
• Maintain a account in your bank.
• Your phone number should be that of your BVN.
• You must have a valid government-issued ID card.

What happens if fail to repay my loan, or pay it off late?

Repayments that are late automatically result in an interest rate of 2.2% per day. It is advised to not overpay by the date of due. Paying the loan on its deadline allows access to larger loan amounts. In the event of late repayment, it will impact the ability of you to obtain future loans or bigger ones. If you are extremely late with your payments, you’ll be identified by the First Central Credit Bureau. The blacklisting process from the First Central Credit Bureau may hinder your ability to obtain loans from other lenders.

GoldNaira App customer service number

Phone: 09021130189
Customer Service Email: SachinRana8701@yahoo.com
Address: No 20 Adeniyin Jones, Allen Avenue lagos