Are you looking for a loan company that grant loan for housing rent then Paymyrent is your best option in Lagos and other states in Nigeria.
Paymyrent, an internet-based savings platform that allows users save and save to pay their rent. In this article you’ll learn how to make use of Paymyrent and how to obtain a loan, the best way to invest with Paymyrent and more.
What exactly is Paymyrent as well as how exactly does it function?
Paymyrent is a home rent loan platform, which was created in the year 2016 by Damilare Ogunyemi. It’s also a platform for savings that allows you to save money and invest in your rent.
You can save each day either weekly or monthly, and then use the savings to pay for your next rent after your savings maturing. Apartments and houses to rent are extremely costly in Lagos. It’s not difficult to observe, because housing is extremely scarce.
Paymyrent assists users in planning in advance for the expenses, while making money through the process. In essence, you can perform three different tasks on Paymyrent.
- Get a loan if the rent on your house is due
- Save and save to pay for the upcoming rent on your house
- Locate and find an apartment available to lease
Is Paymyrent secure?
Yes It is. Paymyrent is the product from Confidence Microfinance Bank. Confidence MFB is licensed and is regulated through the Central Bank of Nigeria (CBN).
Your savings and investments through Paymyrent are protected through the NDIC. Remember that any money that you earn through Paymyrent can be invested in other platforms and companies.
This is to ensure every user earns a high return from their investments.
Where to get loan for house rent in lagos?
With Paymyrent, you can easily get a loan for house rent in Lagos and any other state in Nigeria. Try the Paymyrent platform and witness a fast payment structure.
How do I use Paymyrent? Downloading the mobile app
You can make use of Paymyrent using your web browser as well as download the mobile application on your mobile.
If you have an Android device and you’re an Android user, then visit the Google Play Store to download and install the Paymyrent mobile application.
If you have an iPhone device You can also install and download Paymyrent on your phone. It’s possible to do it via the iOS App Store.
How do you save money and invest in the Paymyrent platform?
Savings plan for periodic periods
Two savings options available on Paymyrent. Paymyrent platform. The first is called the Periodic savings plan which allows users to save money for a time period that is not shorter than 4 months.
The periodic savings plan provides an investment return of 77% for each deposit.
What is the minimum amount you can save when you join the Paymyrent Plan for savings on a periodic basis?
The amount you are allowed to save through Paymyrent is dependent on the plan you choose in your plan for savings. If you decide to save:
- Every day, the minimum amount you can afford to save is N200.
- The minimum amount you can save is N1,500.
- Monthly, the minimum amount you could save is N5,000.
Fixed savings plan
The other is a fixed program that lets you customize your savings. It is possible to input the amount that you wish to save and set a deadline for it.
Contrary to the periodic savings plan, which is a 7 percent and the Paymyrent Fixed plan offers an interest rate of 20 percent.
How can you start saving on Paymyrent
- Log in into Your Paymyrent account.
- Then, you must make sure that you have activated you account, making the first payment through the Paymyrent platform.
- Then, you can set up your withdrawal account.
- Once you have that, you can select a savings plan and begin saving to pay for your next rent
Rent loans through Paymyrent What are they?
If you’re saving money for your rent but then realize that you do not have a enough amount, you may be qualified for a loan to pay rent.
Paymyrent lets its users get loans for housing without the need for collateral. The house needs to be picked from Paymyrent’s website and then processed by their agents prior to when you are able to take out the loan.
You’ll pay 50 percent of your rent and Paymyrent will pay the rest 50 percent in your name. Following that, you’ll pay the remaining 50 percent to Paymyrent by way of monthly installments.
What are the requirements for obtaining an installment loan for rent on Paymyrent
You need to provide documents and satisfy certain conditions before you can get an installment loan through Paymyrent.
These are the conditions you need to meet before you can apply for an advance on your rent through Paymyrent.
- The applicant must reside or employed in Lagos State
- You should have a stable source of income each month
- Your salary per month is due to be deposited in a savings account or a current account with the account of a Nigerian bank
- The user must earn at least N70,000 before they can apply for a rent loan through Paymyrent
- There’s no need for collateral, you’ll have to provide a guarantor with a salary more than you earn per month.
- In addition to working in Lagos You must have been a part-time employee of a registered firm for at minimum 6 months
Here are the necessary documents:
- A copy of your contract or confirmation letter
- An utility bill from the last 3 months. You can make use of your PHCN bill
- The tax ID for your pension account (if applicable)
How to obtain a loan to rent on Paymyrent
- In on your Paymyrent account, go to your dashboard and click “Properties”
- Look for a house and choose the property you want to purchase
- Request an inspection through an agent of Paymyrent
- Check your work
- You must approve the apartment you’d like to purchase
- Return on the Paymyrent platform and make an application for a loan to rent
The documents and requirements you provide are thoroughly scrutinized. If all is well the loan is approved. In this case you’ll be required to have to pay 50 percent of the rent.
Paymyrent will settle the remaining half for you and you are able to repay it monthly.
Paymyrent’s head office
Paymyrent has an office in Lagos from where they handle the financial and housing services they provide.
If you’re located in Lagos and you’re in Lagos, you are able to visit the Lagos office to submit complaints or inquire about.
Paymyrent headquarters are located in 37 Akin Osiyemi Road, Allen Avenue, Ikeja, Lagos State, Nigeria.
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