Are you searching for an agent loan from Moniepoint? or do you want to know how to access the Moniepoint loan without a Collecteral? If so, you’re in the right spot.
We are happy to announce that Moniepoint Merchant Float is now online and available to everyone Moniepoint merchants.
Now you can get immediate loans in the palm of your hand, helping you meet the immediate needs of your business.
Table of Contents
Eligibility
To be eligible to gain access Moniepoint loan, you have to meet the criteria listed below.
- Participate in Moniepoint for at minimum three months, with the average weekly withdrawing at least N100,000 during the week.
- You must be an agent manager and fill out your KYC.
How do I apply to get Moniepoint Agent Loan
To obtain Moniepoint loans, you must follow the step-by-step guidelines provided below.
- Visit Moniepoint web application Portal via atm.moniepoint.com
- Log in using the details of your Moniepoint user name as well as your Password
- Click on Outlet Manager and Continue
- Scroll down and you’ll be able to see the amount of the Advised Loan.
- Click on Apply for a Loan
- Take advantage of loans designed specifically for you.
- The more withdrawals you complete, the greater the limit on loans.
Moniepoint Agent Loan Interest
Moniepoint Merchant loan Moniepoint Merchant loan Interest rate for each loan is 0.3 percent for every day, 0.0125 hourly.
Pay attention, if you pay in advance of 24 hours, you’ll save money. For instance, you collect float at 6 am. And use till 6 pm. It’s not necessary to wait until 6 am to pay. Pay at 6 pm, when you have finished working for the day. Only the hourly rate will be charged.
You may be requested to join a group before being allowed to get access to the Moniepoint Agent Loan.
But, be aware that group loans are currently in limbo. Agents may apply for loans by themselves through their manager profiles for agents.
Also, you need five reliable people within the Monipoint Bank family of agencies that can be accountable to each other. It does not matter if the individual is located in the United States or Rivers State.
Agents who have prompts for Group Loans, please follow these steps: Group Loans prompt on their profiles as manager of the agent Please clear the cache of your browser and log in again, and should the group loan icon persists, don’t be concerned, as the display will eventually be removed.
Moniepoint Agent Loan Frequently Asked Questions (FAQs)
How are Merchant Float Loan Amounts Calculated?
The amount of the loan is calculated based on your withdrawal performance in the last seven days.
Can I Lose Access to My Loan?
If you fail to meet bye requirements of the loan, you’ll be denied access to the loan limit.
Who Approves Merchant Float Loan Requests?
Aggregator, Super Aggregator, and Risk Officers at the Moniepoint HQ.
What are the Interest Payments Calculations?
A compounded rate of 0.0125 percent per hour on the balance that is most negative within one hour.
What are Default and Recovery States? What happens when you are in one of these States?
If you fail to repay your loan within 24 hours following acceptance or collection date, then the amount is declared in default.
A restriction is then imposed on the account of the loan. The funds are transferred to the loan account in a bid to collect the loan.
If you fail to repay the loan within 24 hours, your loan will be placed into recovery, and all accounts
Apply for a loan today and reap the benefits of a loan.
Moniepoint! Your trusted agency banking.
If you require us to assist you with more current information on the Moniepoint Agent loan, kindly be sure to ask any questions in the comments box below. You can also give us your contact number or email address to receive more information.