Monzo loan app is real or fake

Monzo Loan App Nigeria

Personal loans are now a common method to borrow money and with an excellent reasons. The money from a personal loan to pay for any purpose you’d like to such as consolidating the burden of debt, make your home more attractive or to purchase an event like a wedding. The best personal loans typically have lower interest rates than you’d pay for credit cards or other high-interest consumer debt like payday loans. This is where the monzo loan can aid.

The loan app is an Nigerian loan application that allows you to get short-term loans that range from N3000 to N50000. It is designed with a an easy and smooth interface for users and utilizes AI to evaluate your credit score on the basis of the information you provide . Monzo loan will transfer money into your account at the bank in under five minutes.

How to apply for Monzo loan?

The process of getting a Monzo loan app is possible conveniently online using:

Install and download your Monzo loan application via Google Play Store.
Give some details about yourself including your current employer number, ID card or BVN number , etc.
Check the accuracy of the information you’ve given
Make sure you have money in your account after you’ve been cleared. The entire process should not exceed 10 minutes.

Monzo loan app interest rate

Expect the interest rate on your loan will be between 5 and 30 percent monthly and a one-time origination cost ranging from N1000 to N6000.

Monzo loan app is real or fake

Monzo loan app is legit and had given several applicants loan in Nigeria.

Many of their customers have confirmed that they received the loan they requested from Monzo loan app. Check out other reviews of customers at Google Play. But, this application will contact your contacts and humiliate the person who is in default of the credit.

Monzo loan app will require authorization to gain access to your camera storage, location as well as your phone’s contact list. The requested information is designed to provide KYC details (part of it is required to assess your creditworthiness) because of a lack of an centralized data base for verification of addresses in Nigeria.