imoney loan application is one of the best loan applications in Nigeria.
imoney loan applications make it extremely easy for Nigerians living in Nigeria to have free access to loans anytime, anywhere, and for any reasonable amount of money.
The imoney loan service allows students, self-employed, and other employed individuals to apply for and obtain instant personal loans directly to the bank accounts of the applicant’s choice.
This post will explain extensively how to apply for imoney, how to download the imoney app, how to calculate your repayment, and definitely the imoney loan requirement.
Table of Contents
How Do You Use Imoney
The imoney loan application is an Android application that gives you access to a soft loan of about 500 thousand nairas without any document or collateral security. With your Android phone of any version, you can access nearly 500 thousand nairas.
To successfully get at about 500 thousand nairas on imoney, you must have repaid any form of loan that you owe other loan applications as this is a significant criterion in getting the 500 thousand nairas. Getting a good credit score will increase your credit limit; applying for an imoney loan application is simply easy, like boiling water, as you will be required to fill in basic information about yourself, and I will strongly advise you to be truthful in all information that you fill in this process.
For first-timers on the imoney loan application, getting 500 thousand nairas your first loan application is not possible because of the credit score I explained earlier on.
How To Apply For A Loan From iMoney?
- Download the iMoney Personal Loan application, which can be obtained on Google Play Store, download and install it on any Android phone of any version of the operating system
- Register an account with your mobile number that is linked to your Bank Verification Number and National Identification Number
- The mobile number that you fill in, which is connected to your BVN, will receive a one-time password that will be sent to it for verification.
- You will be required to fill in your basic information, which includes your full name, residential address, next of kin and employment details, and other essential information about you.
- You will also be required to provide your Bank verification number, BVN. Please note that you can not use someone’s BVN during this registration
- You will need to connect your debit card or automated teller machine card of your card to your money account so that it will increase the chances of you getting a higher loan amount; 30 nairas will be deducted from your bank account in the process of confirmation
- A one-time password OTP will be sent to your mobile number as confirmation of the debit card and other vital information
- After the success of your loan application on the imoney loan application, the credit score software will scan your bank details and other financial records that you have done in the past, and the final result will be shown in the APP.
iMoney loan interest rate
Loan applicants must check the interest rate of a particular loan application before applying because getting the loan is not always the problem, but paying it back is another issue that most applicants face.
The interest rate offered on your iMoney loan is 12% – 36%APR, with a 0% service fee. For example, If you request a loan of ₦5,000 and the loan term is 180days, and the Interest rate is 18%, the total Interest will be ₦5,000 × 18% = ₦900. And the total repayment amount will be ₦5,000 + ₦900 = ₦5900.
Requirements for iMoney loan
It is essential to know the requirement of an imoney loan before you start applying, and reasonably enough, these requirements are pretty easy to come by, unlike other loan applications. The more eligible you are, the better and faster you get the desired amount.
- Android phone that is connected to the internet
- A subscriber Identification number, SIM card of MTN or Glo or 9mobile, or Airtel that is fully registered
- Applicant must be at least 18 years old
- You must be a Nigerian citizen and reside in Nigeria
- You must have Bank Verification Number, BVN
- You must have a reliable monthly source of income so that it will be easy to pay back the loan
- You will need a functioning bank account in any Nigerian commercial bank
- You must be truthful in all personal and third-party information that you give out during the registration process
Having met this requirement, you should be on your way to receiving your first loan from imoney.
iMoney Head office
iMoney runs an administrative head office in Lagos, Nigeria. The administrative office give order and monitors all agents that are scattered around major cities in Nigeria
Their administrative head office is at Sapetro Towers 1, Adeola Odeku Street, VICTORIA Island, Lagos, Nigeria.
iMoney Contact Number
For more information, complaint, or inquiries or to unblock your account, you should contact the imoney loan app in Nigeria using the below links to visit the official website and interact on their website Facebook and Twitter pages.
Website: money. ng
Facebook page: facebook.com/pg/iMoneytech
Email Address: help@imoney.ng
