Sokoloan offer instant loan in Nigeria without collateral or paper work using soko loan, you could receive up to 200,000 dollars in a single. Their loan processing is rapid once your application has been successful, you will be notified after 30 minutes.
The requirements to get a loan from Soko loan
Here are the conditions you have to comply with prior to obtaining a the loan offered by Sokoloan
Have a bank account and BVN
You can be a Nigeria and live in Nigeria
Are you able to earn a living?
You cannot have been in default on your loan prior to
Have a good credit score
A smart phone that allows you to download the application
How do I apply for a sokoloan
Step one is go to the playstore and download the sokoloan app.
Sign up with your name and additional details
You will be asked to upload your BVN and you must do this.
Also, you will be asked to secure your ATM card. You must do this.
After registration, you will be logged into 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.
Click on the loan to be approved and then sit back for disbursement
If all goes as planned, you should receive an alert for credit within 30 minutes.
Sokoloan Ussd code
Sokoloan doesn’t have a ussd code. The only method to get the loan they offer is by downloading their app from the Play Store or other app stores. After they’ve given their ussd codes, we will refresh this page.
What is the amount you can get from a sokoloan
With Sokoloan, you can get up to $200,000 with no any collateral or paperwork. For those who are first-time applicants, you will not be able to get the maximum amount, and your credit limit may not exceed $50,000 however, as you use the loans and repay them regularly, the amount you can get will grow.
Sokoloan Interest rate, and repay time
The interest rate ranges from 5 to 25%, based on the amount you earn and the time to pay back.
The time to repay also depends on the amount you obtained, and it ranges from 7 days to the period of 190 days. For first time applicants, you’ll be charged a high interest rates and a short time to pay, but which will increase when you continue to use the loans.
Paying back your sokoloan
You can repay your loan using an ATM card or request a the account number of your sokoloan and transfer funds to it. If you transfer funds, make sure you have the correct account number so that you don’t get a stories that could touch.
Is sokoloan legit
If they are offering a the loan, yes, sokoloan is legal however they do not have licensed by CBN or insured by NDIC therefore, be careful when you take a loan from them.
Our opinion on the sokoloan
Sokoloan will provide you with an instant credit in Nigeria However, if you do not pay, they will issue a defamatory email for your friends.
They’re not licensed by CBN and have received a number of negative reviews on the play store. At the date of this article’s writing, they are suspended on playstore. Be cautious when using loam from them.
Sokoloan can provide you with a quick loan with no collateral or guarantor. you can see, they do not licensed by CBN that means if something happens, it will be a long some time before CBN intervenes.
Make sure you take out a loan you’ll be able to pay back so that you don’t embarrass yourself.
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