Liberty Loan is a brand new startup on the scene although they are late to the loan application game, they are taking on the competition by surprise. Liberty Loan offers loans that can be up to $50,000 to one person at a time and up to $4m for businesses.
The loan that they provide is without collateral, and you do not require a guarantor. Utilizing your smartphone from the comfort of your house you can secure the loan
What exactly is the liberty loan app?
Liberty Loan Company is a finance firm that offers loans to people as well as businesses in Nigeria and beyond. Not only that, but you can also invest your money in them and earn up to 30 percent interest per year.
The requirements to obtain a credit from liberty loan
As with other loan companies they require you to meet specific conditions before you can get a loan from this company. The requirements for this loan company are
Find a source of income
You must have an account with a bank and BVN that they utilize to determine your credit score
Use a valid email address
You should not have defaulted on your loan before
You must be connected to the Internet.
How do I apply for a liberty loan
To apply for a Liberty loan, visit their site
Register and log in to your dashboard
On your dashboard, you’ll have a loan option. Click it.
Next, the page is going to detail the amount of loans available to you.
During registration, you will be asked to supply your BVN along with other pertinent details about you.
Liberty Loan USSD code
You may also take advantage of Liberty’s loan by using the USDD code *347*505#. it’s quick and efficient however, you may not be able to get the loan you need for your business using this USSD code.
How much can you loan from the liberty loan
With a liberty loan, you can get up to $50,000 in loans for yourself and up to $4m for business.
If you are a first-time borrower, don’t expect to receive this amount. It will most likely be lower than this, but if you stick to the website, you’ll be able to get more.
Rate of interest for Liberty loan
Their interest rates are between 5 to 30 percent dependent on the amount of loan you’d like to take out and the time frame for repayment. The period of repayment is from 90 days to 180 days. also depending on the credit score.
How do I pay back the liberty loan
You can repay the loan using an ATM card or call them to request the account number.
How long will it take to obtain the liberty loan?
They’re quick in loans, with a loan payout within 24 hours after application the account is funded.
Is the liberty loan legitimate?
Yes, the loan is legitimate but they aren’t recognized by CBN and are not covered by NDIC at the time of this article’s writing.
What I like about the liberty loan
- The loan they receive is quick
- They offer loans to individuals and businesses.
- There is no need for collateral or the services of a guarantor
What I dislike is the Liberty loan
- The interest rate they pay is higher than the average.
- The repayment time is very too short for the first-timer.
Liberty Loan is the most trusted loan company in Nigeria You can get the loan without collateral or guarantee.
If you don’t wish to take the process of visiting their website or app, you can utilize their USSD code *347*505#.