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Home Loan Download SoftPay Loan App: Apk For Free

Download SoftPay Loan App: Apk For Free

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The soft pay loan app gives you access to borrow money without stress or documentation, with their instant payment plan.

SoftPay loan application is a Nigerian lending service that utilizes artificial intelligence to evaluate customers’ credit scores and issue loans within a matter of minutes. The mobile app lets users get loans of up to N10,000 without no collateral and with minimal documents.

SoftPay Loan

Unsecured loans are an unsecured loan which doesn’t require collateral or a down payment to get. It’s usually short-term and has extremely high rates of interest.

Do not take out an online lending app to pay for your lifestyle. A short-term loan is useful for situations of emergency, but then be quite costly in comparison to long-term loans and must be handled with caution.

SoftPay loan application lets you get personal loans easily by using your phone, including your personal information to confirm your identity and establish your credit score.

The process of getting a loan in Nigeria via banks or other official sources is long and time-consuming. It requires documents like collateral, which many people do not have. That’s why services like these can be extremely useful, particularly in times of need.

Although the app is fairly new, the feedback from customers is positive. The app has had more than 10k downloads on the Google play store but with mixed reviews. The app uses a loan program to collect information from prospective customers such as phone numbers, bank transactions, and, and credit ratings of every borrower.

To be eligible for greater amounts, make sure you keep up-to-date bank transaction information on your mobile and don’t have any outstanding debts from loans from other lenders!

How do you download the APK to take a loan through the SoftPay loan application

  • Install your copy of the SoftPay personal loan app exclusively through the Google Play store and install it on the back of your Android phone.
  • Create an account using your telephone number.
  • The preferred phone number that is connected to the BVN as a unique password will be provided to the BVN to verify your identity.
  • Input your basic Know-your-customer KYC details, which include your residential address, your next of kin, and your employment information.
  • You’ll also have to supply the Biometric confirmation number BVN.
  • The amount you pay will be N30 to tie an ATM account to the account to improve your chances of receiving a loan and obtaining more money.
  • One-time security code OTP is sent directly to your mobile to confirm your account details.
  • When you submit your application to borrow, the application will evaluate your credit score. The final results will be displayed in the app.
  • The final result should be shown in no more than 2 minutes. If you are eligible for an advance loan, the amount will be paid directly into your bank account.
  • You should ensure that you’re using an excellent phone that has enough memory as you’ll have to snap a live selfie to verify your identification.
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It is important to note that affixing your ATM card with N30 doesn’t guarantee that you’ll be approved for a loan. You must still get a credit score.

The N30 charge to tie the ATM credit card with your bank account can be refunded, but it can take between seven to twelve business days for funds to be returned to your banking account.

Your BVN is tied to the credit score you have. So should you have an outstanding loan with another lender, or failed to pay any other lender on time you can expect to be denied.

The credit score you have is a summary of previous loans and the time you pay your bills cash transactions coming into or out of the bank accounts and other data.

If you download this application, you will need to agree to allow access to the contacts in your phone book that be your guarantors. text messages to view your banking transaction history, apps for your phone to observe how you are using different loan apps and other information it utilizes to increase your score on credit.

Is SoftPay the loan app legitimate or a fraud?

The SoftPay Loan app is indeed an authentic loan application that offmicroloansoans up to an amount of up to N30,000 to users, however, it is a bit expensive in terms of interest and bugs that hinder seamless registration. Be cautious before making any online loan. Be sure to read reviews from other customers before applying for an online loan in Nigeria.

It is important to be aware that these loan applications aren’t regulated or registered through The CBN or any other government organization in Nigeria. The responsibility lies with you for the security of your transactions using these apps and there isn’t any remedy for inadequate customer service.

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Its availability as a feature on the Google play store doesn’t ensure that transactions made on it are safe. The store only provides the possibility of downloading and you are accountable for your security by making use of loan apps in Nigeria.


  • Registration is simple.
  • Do not take advantage of customers who fall short of their loan repayments, unlike the majority of loan applications that operate in Nigeria.
  • Students may use it in emergencies.
  • It’s real, it’s been confirmed by the admin that they give loans.
  • Online, no need for collateral.
  • A large loan amount, that can reach 30k.


  • It takes time to pay loans following approval. Some customers may wait days, or up to weeks before they see alerts.
  • The loan’s duration, especially for those who are new to the loan, begins at only 7 days.
  • High-interest rates for very small amounts of loans.
  • High rate of rejection.
  • The app is only compatible with Android smartphones.
  • A relatively low maximum of just 30k

If you are taking out a loan, you should be aware of the repayment schedule. If you choose to take a 60-day loan that has two installments of repayment The app could attempt to automatically debit your account when the due date is the first installment. It may also charge you for overdue fees before the expiration date of 60 days.

You can modify your ATM card’s password to stop auto debit. The app was reported to purposely auto-debit customers, even after they’ve completed transactions through bank transfers.

There is no regulation in Nigeria and the vast majority of app developers are loan sharks that may threaten to send texts to your family members, calling them scammers when you fail to pay the repayment. Avoid these apps if there are other alternatives.

If you’re feeling threatened or bullied by loan sharks in Nigeria check out the following Facebook group in which you can seek help and read about the experiences of others who have been victimized by loans apps.

What other borrowers have to say about the Softpay loan app

Praise Oses has written, “Although the application process is simple, the results are extremely funny. Knowing that there is no loan approval, what is the point of not deducting a fee for binding the card? They’re employing this method to get people’s money. It’s a complete sham “

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GIDEON JOHNNY wrote, “The application is a simple and simple process for processing a loan. I have yet to receive the loan application. This is a very good application with no hassle.”

Franklin Doupere wrote, “This app is great for a simple registration and cash out, but its interest is at the high end of a chilly Please you guys need to increase your interest rate, thank you for your help. I gave it 3 stars.” Check out more reviews from borrowers on this page. Note that this application is awash in fake reviews on the Play Store. App developers may purchase fake reviews to increase the rank of their apps in the play store, but certain apps do it with malicious motives to deceive potential buyers.

Rate of interest?

Service rate for loans: 6 1 to 22 percent monthly interest 0.5 0.5%, an annual percentage rate (APR) for a soft pay loan is 120% x 30 percent.

If you want to apply for a loan amounting to NGN10,000, the period is 120 days. The annual service fee is 28%, and the rate of interest on the loan is 0%. So our APR is 28%.
So the daily Service fee rate=28%/365=0.077%, the Service fee for 120 days = is NGN10,000×28%/365×120= NGN921, the should repayment=NGN10,000+NGN921= NGN10,921.

Be aware that this rate of interest and loan term is only an example. You can expect the amount you pay and the duration to be lower However, you can enhance it by repaying the loan in time and maintaining a good credit rating.


  • You must be a legal citizen or a legal Resident of Nigeria
  • You must be at the age 18.
  • You should have a monthly income source.
  • Make sure you connect your ATM card to your account
  • Give the details about two next of kin including their telephone numbers.
  • A good credit score without any outstanding loans from lenders.
  • You must have a valid bank account.
  • Your phone number must match that of your BVN.
  • You must have a valid government-issued ID card.

SoftPay application customer care number

  • Service Hotline: 2348034063318 (9 am – 6 pm (Mon-Fri), Sat-9 am-5 pm)
  • Customer Service Email: SoftPaysever@outlook.com
  • Address:45 Adedoyin Rd, Lawanson 101241, Lagos, Nigeria
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