Olamide Famuwagun

How to Know if Your BVN is Blacklisted in Nigeria

May 2, 2024 by Olamide Famuwagun

Uh oh! BVN troubles?

Yeah, a blacklisted BVN can mean big trouble in Nigeria.

I mean there will be no new bank accounts, no loans, nada!

But don’t worry! This guide will help you know how to check if your BVN is blacklisted and get you back on track.

Let’s get your financial freedom again!

How to Check if Your BVN is Blacklisted in Nigeria

To check if your Bank Verification Number (BVN) is blacklisted, here are two methods you can use:

How to Check if Your BVN is Blacklisted in Nigeria Via BVN Online Portal

Visit the BVN portal. Then enter your BVN number. Click on “check BVN status”. If your BVN has been blacklisted, you’ll get the notice “Your BVN is blacklisted. Please visit any bank for further information”.

How to Check if Your BVN is Blacklisted in Nigeria by Visiting Your Bank

The most direct way to check if your BVN is blacklisted in Nigeria is to visit the bank where your BVN was registered and speak to a customer service representative about your BVN status.

How to Check if Your BVN is Blacklisted in Nigeria Via Customer Care

You can also call your bank’s customer service to inquire about your BVN status. They will be able to tell you if your BVN is on the blacklist and the reason for it.

Signs That Your BVN Might Be Blacklisted

Account Restrictions

You may notice sudden limitations on your bank account functionalities, such as withdrawal limits or transaction blocks that were not present before.

Loan Application Rejections

If your loan applications are consistently rejected without clear financial reasons or explanations, it could be an indication that your BVN is blacklisted .

Online Banking Issues

Difficulty accessing or using online banking services can also be a sign of issues with your BVN.

Bank Notifications

Direct communication from your bank regarding issues with your account or BVN should be taken seriously. This might include messages about suspicious activities linked to your accounts.

Frozen Bank Account

If your bank account gets frozen suddenly, it could be due to your BVN being blacklisted. You might not be able to perform any transactions until the issue is resolved .

Credit Bureau Report

Requesting a credit report from any of the licensed credit bureaus in Nigeria can also reveal if there are any issues associated with your BVN, such as being reported for unpaid debts or fraudulent activities.

What to Do If Your BVN is Blacklisted

1. Follow the rules for banking

Make sure that all banking rules and guidelines are followed. As part of this, you must keep accurate records and follow all rules and regulations for financial activities.

2. Keep your finances honest

Stay away from things that might be seen as fake or odd. Do not write bad checks, commit scams, or get into financial services without permission.

3. Manage loans and credit responsibly

Always make sure you pay back your credit card and loan bills on time. One of the most common reasons for being put on the BVN watchlist is not paying back loans.

4. Regularly checking the account

Pay close attention to all of your bank accounts that are related to your BVN. Regular monitoring helps find and report any deals or problems that aren’t supposed to happen as soon as possible.

5. Keep your private data safe

Make sure that no one else can steal or use your BVN or other private banking information. Do not give your BVN to people or businesses that you don’t know or trust.

6. Learn about how to be financially secure

Keep up with the latest information on how to keep your money safe and avoid scams. Banks and other financial institutions often give you tips and information on how to keep your funds safe.

7. For transactions, use safe channels

Always do business through official bank channels and stay away from public networks that aren’t safe, especially when you’re using the internet to do business or access your bank account.

Conclusion

Phew! Now you know how to dodge your BVN being blacklisted.

Remember, keeping track of the status of your Bank Verification Number (BVN) is important for keeping your access to banking services smooth.

After all, a blacklisted BVN can throw a wrench in your financial plans – from loan rejections to account closures, it’s no fun!

To protect the integrity of your BVN, you should keep an eye on your financial transactions, follow bank rules, and make sure you pay your loans on time. A BVN that is on a blacklisted can have serious effects, like making it harder to get loans, inability to open new bank accounts, or even find work. If you find out that your BVN is on a blacklist, you should contact your bank right away, pay off any loan, and if you need to, get legal help.

But hey, if you find yourself on the blacklist accidentally, don’t sweat it. Just reach out to your bank, clear any outstanding debts, and if needed, seek legal help. Remember, a proactive approach keeps your financial freedom flowing!

Keystone Bank Transfer Code, USSD Codes for Keystone Bank (2024)

April 22, 2024 by Olamide Famuwagun

Keystone Bank is a prominent financial institution in Nigeria that offers a range of banking services. Among these services, the USSD (Unstructured Supplementary Service Data) codes stand out as a convenient way for customers to manage their accounts using mobile phones, without needing internet access.

Today’s discussion focuses on the Keystone Bank USSD code, specifically designed for money transfers. I will provide step-by-step instructions on how to use the code to send money quickly and securely.

Let’s get started!

Keystone Bank Transfer Code

Keystone Bank has an easy-to-use USSD service that lets customers do a variety of financial tasks from their phones, without having to connect to the internet. *7111# is the Keystone Bank USSD number. All of Nigeria’s big mobile networks can use this service, including MTN, Glo, Airtel, and 9 Mobile. It can be used on both basic phones and smartphones.

You can make transfers using this code *7111*Amount*Account Number#. This code applies to transfers within the bank and other banks.

Step-by-step guide on how to initiate a transfer

Step 1: Activate the USSD Service

Before you can start transferring money, ensure that you have registered for Keystone Bank’s USSD service. If you haven’t already, you can activate it by:

Dial *7111# on your mobile phone.
Select the “Register” option from the menu.
Follow the prompts enter your Keystone account number and year of birth.
Create a 4-digit USSD PIN that will be used to authorize transactions.

Step 2: Start the Transfer Process

Once your USSD service is activated, you can initiate a transfer by:

Dial *7111# on your mobile phone.
From the menu, select the option to transfer funds.

Step 3: Enter Transaction Details

Input the amount you wish to transfer.
Enter the account number of the recipient. Ensure that this is entered correctly to avoid sending money to the wrong account.

Step 4: Select the Recipient’s Bank

If you are transferring to a non-Keystone bank account, you will need to select the recipient’s bank from a list of banks provided in the USSD menu.

Step 5: Authorize the Transaction

Enter your 4-digit USSD PIN to confirm and authorize the transaction.
Confirm all the details are correct before finalizing the transaction to prevent errors.

Step 6: Confirmation

Upon successful transaction, you will receive an SMS confirmation that the money has been debited from your account and sent to the recipient’s account.

List of Keystone Bank Codes for Transactions

Transaction Type	USSD Code	Description
Transfer (To Keystone Bank)	7111Amount*Account Number#	Transfer money to another Keystone Bank account.
Transfer (Other Banks)	7111Amount*Account Number#	Send money to accounts in other banks.
Airtime (Self)	7111Amount#	Purchase airtime for the phone number linked to your account.
Airtime (Others)	7111Amount*Phone Number#	Buy airtime for another phone number.
Check Balance	711100#	Check the balance of your Keystone Bank account.
BVN	5650# or 71116#	Retrieve your Bank Verification Number (BVN).
Activate USSD Banking	71110#	Register and activate USSD banking on your phone.
Purchase Data	71115#	Purchase mobile data.
Activate ATM Card	71119*123#	Activate your Keystone Bank ATM card.
Restrict Account	71119*11#	Block or restrict access to your account in emergencies.

Additional Information

1. Transaction Limits

The maximum daily transfer limit is N100,000 for a combination of intra-bank and inter-bank transactions. This limit can be adjusted by visiting a Keystone Bank branch or contacting customer service.

2. Charges Associated with Transfers

The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have established that a flat fee of N6.98 will be charged for each USSD transaction for financial services.

3. Troubleshooting Common Issues

If you forget your USSD PIN, you can reset it by dialing the USSD code *7111#, selecting the PIN reset option, and following the prompts. You may need to provide personal information to verify your identity.

Also, common causes of transfer failures include insufficient funds, incorrect account details, or exceeding transaction limits. Double-check the details before confirming a transaction. If problems persist, it may be due to network issues or restrictions on the recipient’s account. Contact Keystone Bank for assistance in such cases.

4. Keystone Bank Contact Information

You can reach Keystone Bank customer service for immediate assistance via their official customer service numbers, which Keystone Bank Contact Centre +234 (0) 700 2000 3000
Keystone Bank provides email support for less urgent queries or detailed assistance. Their customer service email is contactcentre@keystonebankng.com.
It is best to go to a local Keystone Bank store for personalized help, especially with things like changing your transaction limits or resetting your PIN.

Conclusion

The USSD service from Keystone Bank, which can be reached at *7111#, is a complete tool for doing a wide range of banking tasks without being connected to the internet. It can do many things, like send money between Keystone Bank accounts and to other banks, buy airtime, check account amounts, and more. Making sure that banking activities can be easily done on mobile phones is one of the best ways that this service improves financial access and ease.

How to Check Your MTN Number in 2024

April 12, 2024 by Olamide Famuwagun

We’ve all been there – needing to share your number but it’s mysteriously vanished from your memory.

LOL, don’t worry, my fellow MTN user!

Knowing your MTN number helps ensure you can easily share it for communication, register for services, and verify your identity when needed.

So ditch the stress and let’s explore how to check your MTN number and stay connected in 2024!

How To Check MTN Number Using USSD Codes

Dial the USSD code *123# or *663#.
Press the call button to send the request.
Look for an option labeled “Account Info” and select it
Select “My Number”
Your MTN phone number will be displayed on the screen.

Note: Once your number is displayed, you can write it down or save it in your contacts for future reference.

For more information on MTN, check out these guides:

How To Transfer Airtime on MTN

How To Borrow Airtime From MTN

Easy Way To Share Data on MTN

Alternative Method: How To Check MTN Number Using Phone Settings (For Android Users)

To check your MTN number on an Android device without using USSD codes, you can use the phone settings.

First, open the Settings app and scroll to “About phone” or “About device.”
Then, tap “Status” or “Phone identity” and select “SIM Status” to see your phone number.
This number is typically listed under “My phone number.”

Note: The steps may differ slightly based on your phone model and Android version. This method provides an easy alternative for users who may not remember USSD codes.

You can also check out my guide on How To Check Your Airtel Number in 4 Ways (2024)

Conclusion

Checking your MTN number can be done through two primary methods: using USSD codes by dialing *123# or *663# and following the prompts, or navigating through your Android phone’s settings to find your number under “About phone” or “SIM Status.”

If you encounter difficulties or need further assistance, contacting MTN customer service is always an option to ensure you have access to your phone number when needed.

Automating Loan Disbursement: Getting Funds to Borrowers Faster

April 8, 2024 by Olamide Famuwagun

When someone applies for a loan, it usually involves a lot of steps like filling out forms, checking details, and then finally getting the money.

This can be slow and sometimes things go wrong because it’s all done manually.

Well, there’s a better way!

Automated loan disbursement is here to slash the wait time.

Imagine getting the money you need fast, with fewer errors and a smoother process. Technology steps in to handle the heavy lifting, so you can ditch the loan blues and get on with your plans.

Sounds pretty sweet, right?

Let’s dive into how automated loan disbursement makes getting the funds you need a breeze!

The Problem with Manual Disbursement

Below are some of the problems involved in using manual disbursement:

Time Delays

With manual disbursement, everything takes longer because it’s done by people, not machines.

For instance, writing checks or setting up wire transfers can take days. Every step needs to be checked and approved by someone, which adds more waiting time.

Errors and Delays from Manual Data Entry

People have to type in all the information by hand, like how much money they need and their bank details.

It’s easy to make mistakes, like typing wrong numbers or mixing up accounts. When errors happen, everything stops until they’re fixed, leading to more delays.

Security Risks

Manual processes often involve a lot of paper and human handling, which can increase the risk of losing important documents or leaking private information.

If someone accidentally shares your details, it could lead to problems like identity theft or fraud.

These vulnerabilities can be a concern for both lenders and borrowers. Thankfully, advancements in financial technology have led to secure online platforms like Loanspot, which utilize high-tech security measures like encryption and secure identification to safeguard sensitive data throughout the loan process.

Speaking of disbursement, check out my guide on How Fintech is Revolutionizing Loan Disbursement and Collection

Benefits of Automated Disbursement

Speed

Automated loan disbursement systems significantly reduce processing time, allowing lenders to disburse funds faster to borrowers.

This translates to quicker access to capital, a benefit Loanspot prioritizes by leveraging automation in its marketplace model.

If you’re a borrower in need of fast and efficient loan processing, consider exploring platforms like Loanspot.

Accuracy

A lot of mistakes are avoided with automation because it uses set rules and data checking.

Computers don’t get tired or mix up numbers like people do, so fewer mistakes could happen when handling loans. The facts will be more accurate, and the whole process will be more solid.

Efficiency

Lenders can save a lot of time and money with automatic methods.

From applying to getting the money, these methods make the whole process easier by cutting down on the amount of paperwork and work that needs to be done by hand.

This means that lenders can handle more loans with fewer resources, which greatly reduces the costs of doing business.

Security

Automatic distribution can also be safer. To keep private data safe, digital systems can use high-tech security measures like encryption and secure identification.

This makes sure that users’ personal and financial information is safe and lowers the chance of data breaches.

How Loan Disbursement Automation Works

Loan disbursement automation transforms the traditional loan process, making it quicker, more accurate, and more secure. Here’s how it works:

Integration with Electronic Payment Platforms (ACH Transfers)

Automated loan disbursement systems are integrated with electronic payment platforms, like Automated Clearing House (ACH) transfers.

This means once the loan is approved, the funds can be transferred directly to the borrower’s account electronically, reducing the need for physical checks and speeding up the access to funds.

Real-Time Verification of Borrower Information

These systems include real-time verification features that check the borrower’s information instantly. For example, they can automatically verify the borrower’s credit score, employment details, and financial history as part of the loan approval process.

This instant verification speeds up the decision-making process and reduces the risk of errors.

Fraud Prevention Measures

Automated systems are equipped with advanced analytics and pattern recognition tools to detect unusual activities that could indicate fraud.

For example, they can identify inconsistencies in application data or unusual transaction patterns that may suggest fraudulent activities. By doing so, these systems help minimize the risk of financial fraud and protect both the lender and the borrower.

In addition, automated loan disbursement systems offer numerous advantages, including the ability to manage the entire loan process from application to disbursement efficiently.

They streamline operations by integrating with other financial and accounting tools, managing documents electronically, and providing comprehensive reporting and analytics capabilities

Lastly, they support the digital signing of loan documents and ensure compliance with relevant regulations and laws, enhancing the overall security and efficiency of the loan disbursement process.

Loan Disbursement Automation

There are a few important steps and things to think about when setting up an automatic loan distribution system. They include:

Assessment and Planning

To begin, look at how you currently pay out loans and figure out what parts could be automated. This means knowing how your work gets done, how many loans you have, and any problem areas, like delays or mistakes.

Cost

Setting up an automatic system costs money because you have to buy software, tools, and maybe even train staff.

Think about both the cost of setting up and the cost of running the business. To make sure that the technology will save money in the long run, it’s important to look at the return on investment (ROI).

Concerns about Security

Since loan payment involves private financial information, safety is very important. Make sure that the automatic system has strong data protection features, like security, safe data storage, and access controls, to stop people from getting in without permission and stealing data.

Choosing the Right Automation Provider

It is very important to choose a trusted automation provider. Look for companies that have worked with banks before and can offer strong, safe, and expandable options.

The service company should have good customer service and follow all financial rules.

Integration and Testing

The new system should work well with your current CRM, banking, and other systems that are similar. Before going live, all parts must be thoroughly tested to make sure they all work together quickly and effectively.

Training and Setup

Teach your employees how to use the new system correctly. To do this, they need to know how to use the automatic system to process loans, fix common problems, and deal with security measures.

Monitoring and Evaluation

As soon as the system is up and running, it should be constantly checked to make sure it’s doing what it’s supposed to do. Be ready to make changes based on comments and how the business needs change.

Conclusion

Automating the process of loan payment is a big step for banks that want to improve their service and business efficiency. Moving from human to automatic systems solves important problems like long working times, mistakes made by hand, and security holes.

Lenders can offer faster, more reliable, and safer services by connecting to electronic payment systems like ACH transfers, verifying client information in real-time, and putting in place strong scam prevention measures.

Xcross Cash Loan

April 7, 2024 by Olamide Famuwagun

Xcross Cash Loan is a mobile application that offers short-term loans to individuals in Nigeria. It provides a convenient and efficient way for users to access financial services directly from their smartphones. Through this app, users can apply for quick loans without the need for traditional banking procedures, making it a valuable resource for those in immediate financial need.

In this blog post, we will go more deeply into the features and capabilities of Xcross Cash Loan. We’ll look at user experiences, the terms and conditions of the loans the app offers, and how it functions. We will also talk about the terms of repayment, interest rates, application process, and general service dependability.

What is Xcross Cash Loan?

Xcross Cash Loan is a mobile application available in Nigeria that offers instant short-term loans. This app allows eligible users, particularly those between the ages of 20 and 55, to obtain loans without needing collateral or property documents. Users can borrow amounts ranging from ₦10,000 to ₦50,000, which can be increased with a higher credit limit attained through activities like referrals or viewing ads within the app.

The application process involves downloading the app, signing up with personal details including a Bank Verification Number (BVN), and then applying for a loan. The app evaluates the user’s creditworthiness, partly using the BVN, and decides the loan amount they can access. Repayment periods for these loans range from 3 to 6 months, with interest rates between 4% to 4.7% per month, which translates to an annual percentage rate (APR) of 24% to 56%.

What Xcross Cash Loan Offers

Xcross Cash Loan offers short-term loans ranging from ₦10,000 to ₦50,000. This range is designed to cater to immediate financial needs, providing a buffer for users in times of emergency or when unexpected expenses arise. The amount a user can borrow is influenced by their credit score and previous loan repayment history, with the possibility of accessing larger sums and better terms as their reliability as a borrower is established.

Repayment Options

Repayment periods for Xcross Cash Loan extend from 91 days to 180 days (approximately 3 to 6 months). This flexibility allows borrowers to choose a repayment schedule that aligns with their financial situation and income cycle. To repay an Xcross cash loan, the process typically involves the following steps:

Log in to the Xcross Cash Loan app.
Navigate to the dashboard or loan management section.
Select the loan you want to repay.
Choose the repayment method (direct app payment, bank transfer, etc.).
Follow the instructions to complete the payment.

Interest Rates

Interest rates for Xcross Cash Loan range from 4% to 4.7% monthly, which equates to an APR of 24% to 56%. These rates are relatively high, reflecting the short-term and unsecured nature of the loans. For example, if someone borrows ₦10,000 at the lowest monthly interest rate of 4%, and chooses to repay over six months, the calculation would be as follows:

Monthly interest: ₦10,000 x 4% = ₦400
Total interest over six months: ₦400 x 6 = ₦2,400
Total amount to repay: ₦10,000 (principal) + ₦2,400 (interest) = ₦12,400

How To Create an Account on Xcross

To create an account on Xcross Cash Loan App, follow these steps:

Download the Xcrosscash Loan App from the Google Play Store or App Store.
Open the app and complete the registration process by filling in your personal details, including your name and contact information.
Upload the required documents, such as a government-issued ID, proof of address, and income verification.
Specify the loan amount you need and the desired repayment term.
Submit your loan application for review.
Once approved, the loan amount will be disbursed to your bank account.

Xcross Cash Loan App

The Xcross Loan App makes it easy for people in Nigeria to get short-term loans. It gives out loans from ₦10,000 to ₦50,000 with terms of 91 to 180 days to pay them back. To apply, you need to download the app, register, and send in the necessary papers. Every month, interest rates run from 4% to 4.7%. The app’s algorithm checks a user’s creditworthiness to decide on loan amounts and terms. This lets qualified users get money quickly without having to put up security.

How To Borrow Money From Xcross

To borrow money from the Xcrosscash app, follow these steps:

Step 1: Open the Xcrosscash App

Start by launching the Xcrosscash application on your smartphone.

Step 2: Account Registration

On the sign-in and sign-up page, click the “Sign Up” button.
Enter your Bank Verification Number (BVN) and click “Next.” Your BVN helps verify your identity, including nationality and age.
Add your phone number to your account details.
You will receive a One-Time Password (OTP) via SMS. Enter this OTP to proceed.
After completing these steps, your account will be registered, granting you access to your dashboard.

Step 3: Accessing the Dashboard

On your dashboard, you can view outstanding loans, track repayment progress, and potentially increase your credit limit by completing simple tasks like sharing referral codes or viewing ads.

Step 4: Applying for a Loan

Select “Apply For A Loan” from your dashboard.
Enter the desired loan amount. The app typically allows loans ranging from ₦10,000 to ₦50,000.
Choose your repayment schedule, which can range from 3 to 6 months.
Input your bank account details for loan receipt.

Step 5: Loan Confirmation and Submission

Review your loan application details.
Confirm and submit your loan request.

Requirement

To receive a loan from Xcrosscash, you must meet the following requirements:

Be a Nigerian citizen and resident, aged between 20 to 55 years.
Have a functional bank account and a valid government-issued ID.
Provide your Bank Verification Number (BVN) for identity verification.
Pass a creditworthiness assessment, which considers your financial history and repayment capacity.

Xcross Customer Care/ Contact Number

For customer support and inquiries, you can contact Xcrosscash through their provided email address: xcross.tyz@gmail.com. Additionally, they have a contact number: 0810 141 3379, which you can use to speak with their customer service staff for any questions or complaints.

Abasiama Idaresit: Pioneering Innovator Transforming the Tech Landscape

April 4, 2024 by Olamide Famuwagun

A visionary Nigerian leader, Abasiama Idaresit, is making waves as an exceptional leader in the tech industry. His company, originally Wild Fusion, has evolved into the powerhouse Wild Fusion Holdings.

This entity spans Digital Marketing, Licensed Agency Banking, Fintech Infrastructure, and Digital Services, with operations in Nigeria, Ghana, and Kenya. Idaresit’s knack for surpassing benchmarks in the tech landscape of Africa is noteworthy.

Wild Fusion Holdings, under Idaresit’s guidance, has seen exponential growth from its beginnings as a digital marketing firm.

Idaresit, a London School of Economics alumnus, shared insights on the company’s growth trajectory, stating, “Our ethos and organizational culture has been instrumental to our success and the expansion of our client portfolio. Quality Service and Products, Value to Customers, and Excellence are very key components of our DNA. These values are sector, geography, and market agnostic. We have retained a number of our clients for over ten years in Nigeria and Ghana. We have thrived and will continue to thrive despite facing significant challenges.”

The CEO highlighted Wild Fusion Nigeria’s vital role in Wild Fusion Holdings and detailed the extensive services offered across its locations, including Digital Strategy, SEO, and Content Marketing.

“We also have a licensed Agency Banking Subsidiary and Lending Infrastructure Company as our subsidiaries. These two fintechs are also key subsidiaries driving technology penetration across Africa. Excellence is a key cultural attribute of Wild Fusion and this we have embedded in our services and products including our training programs that have a particular module ‘Business Ethics’ with a strong emphasis on Excellence. Acculturating new hires and existing employees is very critical to delivering excellence,” he explained.

Facing business challenges head-on, Idaresit perceives them as catalysts for growth. He shared insights into the specific hurdles in Nigeria’s business environment, from stakeholder interactions to FX liquidity challenges.

The CEO said, “In a bid to find solutions to the highlighted challenges as a company, we modified our working hours making it a lot easier and flexible for our employees to work remotely. This we have seen has reduced the cost of commuting which was quite burdensome and improved our talent retention efforts. With our FX liabilities, we have been able to negotiate flexible payment terms and relied on our international operations to insulate or ring-fenced our Nigerian operation from the FX headwinds. These headwinds aren’t peculiar to Nigeria alone, the Ghanaian Cedis has had its fair share of FX fluctuation challenges. Having a diversified Holdco in product, services and geographical spread also helps in mitigating some of these risks or challenges.”

The tech guru envisions Wild Fusion Holdings continuing to fortify its commitment to Africa and technology, aiming for significant stakeholder returns.

With plans to raise funds for further consolidation and expansion, he is optimistic about setting global benchmarks in the African Technology sector, demonstrating his resilience and long-term success amidst challenges.

Easy Buy: How To Apply For an Easybuy Loan

March 19, 2024 by Olamide Famuwagun

EasyBuy is a service that offers financing. It does this primarily through a mobile app. It allows customers to buy electronic devices and appliances on credit. It acts as a financial bridge between retailers and consumers. It provides loans or credit to help people afford items like smartphones, laptops, and home appliances. They pay in installments. EasyBuy mainly operates in places like Nigeria. It lets customers access these services easily through its platform. This makes tech and other high-value goods accessible to more people.

Also, EasyBuy loans exist to help people buy electronics and furniture. They are for those who lack the immediate funds to buy them outright. EasyBuy offers a flexible repayment plan. It allows consumers to acquire items immediately and pay over time. This makes it easier for people to access the latest technology. It helps them raise their living standards without the pressure of a one-time payment. This service is very helpful in emerging markets. An example is Nigeria, where access to traditional banks and credit can be limited.

How Easybuy Loan Works

1. Eligibility

You can get an Easybuy loan if you are the minimum age, usually 18 or older, and live where Easybuy services are available, such as in Nigeria. Potential borrowers must also have stable income. This is so they can meet the repayment terms.

2. Loan application process

To apply for an Easybuy loan, individuals can visit a partnered retail store or use the Easybuy mobile app. The process involves picking the product to buy. You provide personal and financial info. You also submit the necessary documents. These include a government-issued ID, proof of income, and sometimes a utility bill for address verification.

3. Loan details

The amount of the loan that Easybuy offers can vary. It typically lets customers finance purchases from a lower to a higher range. This depends on the price of the product and the customer’s credit. Repayment terms are designed to be flexible, with options to pay back in installments over several months. The down payment depends on the product’s cost and the loan terms. Customers might need to pay a percentage of the product’s price upfront.

Benefits of Using Easybuy Loan

1. Easy application process

Easybuy’s application process is simple and user-friendly. It lets customers apply for a loan with minimal hassle. You can complete the process online or in-store with just a few simple steps. This simplicity ensures that users can quickly access the financial services they need. They can do this without navigating complex procedures.

2. Potential for quick loan approval

One of the key advantages of Easybuy is the potential for quick loan approval. Once you submit the application and all needed documents, Easybuy processes it soon. This speed means that customers can get confirmation of their loan approval quickly. It lets them get funds for their purchases right away.

3. Financing option for desired purchases

Easybuy offers valuable financing. It is for individuals looking to buy electronics, furniture, and other high-value items. Through the loan service, customers can buy items right away and pay for them over time. It is an ideal solution for those who need to get goods without paying the full amount upfront.

4. Flexible repayment options

Easybuy provides flexible repayment options to accommodate the financial situations of different customers. Borrowers can choose from various installment plans. They allow them to spread the cost of their purchase over several months or even years. This flexibility helps people manage their finances better. It does this by aligning the repayment schedule with their income. It also aligns it with their spending patterns.

Easybuy Contact Information

Phone: You can reach out via +23418888188 between the hour of 9 am – 5:30 pm. Also, this is their Whatsapp line.
Email: For customer support, you can email Easybuy at support@easybuy.loans
Facebook: https://www.facebook.com/EasybuyinNigeria
X (Twitter): https://twitter.com/EasybuyNG
Website: https://web-tz.easybuy.loans/
Office Address: The Easybuy head office in Nigeria is situated at Number 9, Ogunnusi Road, Ogba, Ikeja, Lagos. This is the primary location for customer support and administrative operations. Also, Easybuy has established partnerships with several shops across Lagos, ensuring accessibility for customers in various districts.

Conclusion

Easybuy Loan offers a convenient way to buy mobile devices in Nigeria. You pay in installments, with just a 30% down payment. The rest is spread over 3 or 6 months. The service provides accessible financing. But, potential borrowers should be aware of the interest rates. The rates vary based on the repayment term. It’s important to research and understand these rates and any other terms before applying for a loan. For more detailed information and to explore their services, visit Easybuy’s website at https://web-tz.easybuy.loans/.

FAQs

How much is the down payment for Easybuy?

The down payment for Easybuy is usually about 30% of the price of the mobile device you want to purchase.

How do I check my Easybuy balance?

To check your Easybuy balance, you can use the Easybuy app where you can view your loan history and outstanding balance.

Does Easybuy require BVN?

Yes, Easybuy requires your Bank Verification Number (BVN) as part of their loan application process.

Moniepoint Loan – How To Get a Loan From Moniepoint

February 29, 2024 by Olamide Famuwagun

Moniepoint Loan is a financial service designed to offer quick financial assistance to those in need. You may be an individual facing urgent expenses. Or, you may be a business seeking swift cash flow. Moniepoint Loan offers a simple way to access funds. This service is for people or entities that need immediate financial help. The help is quicker than that of traditional banking loans. Moniepoint understands the urgency of unexpected financial needs. It strives to offer a helping hand to help its clients overcome their challenges quickly. Moniepoint Loan aims to be reliable. It focuses on speed and accessibility. It aims to help anyone in need of fast financial support.

Moniepoint Loan

Moniepoint Loan is a dynamic financial service. It is designed to provide quick and hassle-free loans to individuals and businesses. This service stands out. It can meet immediate financial needs through many loan options. These include personal loans for individuals and business loans for entrepreneurs and companies. These loans help to boost operations or manage cash flow challenges.

Moniepoint Loan has key features that make it an attractive option for those in need of quick financial help. Some of the key features are:

Easy application process
Fast loan approvals
Flexible loan amounts
Competitive interest rates
Convenient repayment plans

How to Get a Moniepoint Loan

You can apply for a Moniepoint loan in two ways. You can use the USSD code for quick access without the internet. Or, you can use the Moniepoint app for a more detailed process. Here’s how you can use each method:

Using the USSD Code:

Enter *888# on your mobile phone. This step starts the loan application process from your phone. You can use any type of mobile device.
Look for and select the menu option that allows you to apply for a loan. This option will be clearly labeled in the menu that appears after dialling the USSD code.
Follow the on-screen prompts to provide necessary information regarding your loan application. This includes details such as the desired loan amount and your preferred repayment period.
Complete the process by submitting your application. You’ll then wait for Moniepoint’s approval. It typically comes fast, depending on their criteria.

Using the Moniepoint App

Open the Moniepoint app on your smartphone. If you haven’t installed it yet, you can download it from your device’s app store.
Within the app, go to the “Loan” section. This area is dedicated to loan applications and information.
Moniepoint may offer you pre-approved loan offers. The offers depend on your eligibility and creditworthiness. Review these to understand what you qualify for.
If you’re eligible for a loan, choose how much you’d like to borrow. Moniepoint will outline the most you can apply for. This amount is based on their assessment.
Provide any additional required information or documents to support your loan application. This step is crucial for the final approval process.
Moniepoint will review your application. This review process is typically quick, taking a few minutes to a few hours.
Upon approval, you’ll receive a notification detailing the loan amount and terms. Review these terms carefully, and if you agree, accept the loan offer.
After you accept the loan terms, we will disburse the loan into your Moniepoint account. Then, it will be ready for use.

Moniepoint Loan App Download

To download the Moniepoint Loan App, follow these steps depending on your device:

For Android Users:

Start by visiting the Google Play Store on your Android device.
Use the search bar at the top of the screen to search for “Moniepoint.”
From the search results, select the Moniepoint app. Make sure you choose the correct app, as there may be multiple apps with similar names.
Tap the “Install” button to begin the installation process. Wait for the app to download and install on your device.
Once the installation is complete, tap the “Open” button to launch the Moniepoint app.

For iOS Users:

Go to the App Store on your iOS device.
Use the search feature to find “Moniepoint.”
When you’ve found the Moniepoint app, tap on “Get” to download and install it on your device.
After installation, open the app to start using Moniepoint’s financial services.

Moniepoint Eligibility and Requirements

To be eligible for a Moniepoint loan, applicants must:

Be at least 18 years old.
Be exclusive to Nigerian citizens.
Have a valid BVN linked to their Moniepoint account.
They have a history of using their Moniepoint account. They use it for transfers, bill payments, and airtime purchases.
Keep a good credit history. Show responsible repayment for past loans or debts.

Moniepoint Loan Approval and Disbursement

Moniepoint’s loan approval and disbursement process is swift and efficient. It reflects the platform’s commitment to timely financial support for its customers. Once an application is submitted, the time for loan approval is 24-72 hours. But, it generally follows a quick and simple process.

Moniepoint Loan Limit

Moniepoint provides two types of loans: business loans and overdrafts for individuals. Business loans offer up to ₦5,000,000. They may need collateral and a visit to Moniepoint for processing. These loans range from ₦50,000 to ₦500,000. They are for individual with short-term needs and no collateral.

Moniepoint Loan Interest Rate

The interest rate for Moniepoint loans varies. It ranges from 2% to 5%, depending on the loan amount. This rate applies to their overdraft products. The repayment period for loans extends up to 6 months. These rates are for the quick financial needs of their customers. They provide flexible and accessible loans for individuals and businesses in Nigeria.

Moniepoint Loan Terms and Conditions

Moniepoint loan terms outline who is eligible. They cover interest rates, repayment schedules, and fees. Borrowers must follow these terms. This will ensure smooth borrowing and repayment. You should review specific details with Moniepoint. These details include loan amounts and interest rates. The rates can be from 24% to 40% per year. Repayment periods are also included. This is to ensure you understand and follow their lending policies.

Moniepoint customer support

Customers can email Moniepoint at support@moniepoint.com for support. Or, they can email info@moniepoint.com for information. You can submit an issue by clicking the link provided on their website, and their support team will respond to you as soon as possible. Also, you can contact them by phone at 0201 888 9990.

Disclaimer: Always consider your ability to repay before taking out a loan. Ensure you fully understand the terms and conditions.

Conclusion

Moniepoint provides quick and easy loans for both people and businesses in Nigeria. The loans can be for up to ₦5,000,000 for businesses and ₦500,000 for people. The interest rates vary from 24% to 40% per year. This shows the importance of responsible borrowing. Customers should review loan terms carefully. They should reach out to Moniepoint’s customer support with any questions. Remember to borrow responsibly, understanding all terms and conditions to avoid financial strain.

Top 10 Loan Apps That Don’t Require ATM Card: Your Ultimate Guide

December 5, 2023 by Olamide Famuwagun

Accessing financial services has become convenient, with loan apps playing a significant role. These apps let you borrow money fast, without needing the usual documents like bank statements or pay stubs.

However, some of these loan apps stand out for not requiring an ATM card. This makes them even more accessible to a wider range of borrowers.

In this blog post, we will explore various loan apps that do not need an ATM card. Also, we will guide you on accessing loans through them.

Overview of Loan Apps in Nigeria

The loan app market in Nigeria has grown because more people can access credit quickly. This is because of financial inclusion, smartphones, and the need for fast credit. These apps made borrowing money easier than traditional bank loans. They succeed by avoiding strict bank requirements and delays, with easier eligibility criteria. This appeals to those without formal banking access or limited credit histories.

Loan apps’ popularity also stems from their convenience and accessibility. Available on smartphones, users can apply anytime, anywhere, with a streamlined, user-friendly process. Unlike traditional bank loans, these loans are approved and given within a few minutes. This swift turnaround makes them ideal for those facing urgent financial needs.

These apps have changed Nigeria’s financial system. They make it easier for people to access and use credit. Users can now manage finances, meet obligations, start businesses, and enhance overall well-being. However, some apps may charge extra fees, have high-interest rates, or be unfair. Make sure to carefully read and understand the terms and conditions before applying.

10 Loan Apps That Don’t Require ATM Cards

1. Branch

Branch is one of Nigeria’s most popular loan apps that offers loans without requiring an ATM card. It provides loans ranging from ₦1,000 to ₦200,000 with a repayment period of 4 to 40 weeks.

The interest rate ranges from 15% to 34%. To be eligible for a loan, you must have a BVN, a valid bank account, and a smartphone.

2. Aella Credit

Aella Credit is a popular loan app in Nigeria. It offers loans without needing an ATM card. It provides loans ranging from ₦1,500 to ₦1,000,000 with a repayment period of 1 to 4 months. The interest rate ranges from 4% to 29%. To be eligible for a loan, you must have a BVN, a valid bank account, and a smartphone.

3. QuickCredit

QuickCredit is a loan app that offers loans without requiring an ATM card. It provides loans ranging from ₦1,500 to ₦500,000 with a repayment period of 1 to 12 months. The interest rate ranges from 5% to 30%. To be eligible for a loan, you must have a BVN, a valid bank account, and a smartphone.

4. FairMoney

FairMoney is a loan app that offers loans without requiring an ATM card. It provides loans ranging from ₦1,500 to ₦500,000 with a repayment period of 1 to 6 months. The interest rate ranges from 10% to 30%. To be eligible for a loan, you must have a BVN, a valid bank account, and a smartphone.

5. Renmoney

Renmoney is a loan app that offers loans without requiring an ATM card. It provides loans ranging from ₦50,000 to ₦6,000,000 with a 3 to 24-month repayment period. The interest rate ranges from 2.76% to 9.09% per month. To be eligible for a loan, you must have a BVN, a valid bank account, and a smartphone.

6. Okash app

Okash app is a loan app that offers loans without requiring an ATM card. It provides loans ranging from ₦3,000 to ₦50,000 with a repayment period of 7 to 14 days. The interest rate ranges from 0.1% to 1% daily. To be eligible for a loan, you must have a BVN, a valid bank account, and a smartphone.

7. GTB Quick Credit

GTB Quick Credit is a loan app that offers loans without requiring an ATM card. It provides loans ranging from ₦10,000 to ₦5,000,000 with a 6 to 12 months repayment period. The interest rate ranges from 1.5% to 5% per month. To be eligible for a loan, you must have a BVN, a valid bank account, and a smartphone.

8. Branch Loan App

Branch Loan App is a loan app that offers loans without requiring an ATM card or BVN. It provides loans ranging from ₦1,000 to ₦200,000 with a repayment period of 4 to 40 weeks. The interest rate ranges from 15% to 34%.

9. Umba Loan App

Umba Loan App is a loan app that offers loans without requiring an ATM card or BVN. It provides loans ranging from ₦1,500 to ₦50,000 with a repayment period of 1 to 3 months. The interest rate ranges from 4% to 21%.

10. Aella Loan Credit App

Aella Loan Credit App is a loan app that offers loans without requiring an ATM card or BVN. It provides loans ranging from ₦1,500 to ₦1,000,000 with a repayment period of 1 to 4 months. The interest rate ranges from 4% to 29%.

How to Apply for Loans Without an ATM Card

1. Choose a loan app

Find a trustworthy loan app that doesn’t need an ATM card to give you the loan. Before you get a loan, think about:

● How much money you need

● How long it will take to pay it back, the interest rate, if you qualify,

● What others have said about it (even though you understand your personal need more)

2. Download and install the app

Locate the chosen loan app on the Google Play Store or Apple App Store and download it onto your smartphone. Install the app and follow the on-screen instructions to create an account.

3. Provide personal information

Please provide your details like:

● Full name

● Date of birth

● Phone number

● Email and address.

You may also be asked to provide your Bank Verification Number (BVN).

4. Complete the application

Please complete the loan application form. Give information about your income, job, and debts. Certain apps might ask you to connect your bank account or give other financial details.

5. Submit the application

After you finish filling out the application, make sure to review the details before submitting it. The loan app will assess your eligibility and creditworthiness.

6. Receive loan approval

Once your loan is approved, you’ll get a notification, and the money will go straight to your bank account or mobile wallet. The app will provide details about the repayment schedule and interest rates.

7. Repay the loan

Make payments on time as agreed to avoid extra charges and harm to your credit score. Certain apps allow you to pay back money differently, like taking it directly from your bank account.

Before you borrow, make sure you can repay it and read the loan terms carefully.

Conclusion

Loan apps make it easy to get credit without the usual bank loan obstacles. These apps are appealing to people with limited access to banking or credit. They have easy requirements.

But be careful with loan apps because some may charge hidden fees, high interest rates, or have unfair lending practices. Before applying for a loan, ensure you understand all the terms and conditions.

To find the best loan, consider different options based on your finances. Look at interest rates, repayment terms, and eligibility criteria.

GEEP Loan – How to Apply for a GEEP Loan

November 26, 2022 by Olamide Famuwagun

Struggling entrepreneur or everyday Nigerian hustler, listen up!

The Government Enterprise & Empowerment Programme (GEEP) might just be your savior.

Launched in 2016, this government-backed program offers interest-free, collateral-free loans specifically designed to help micro, small, and medium-sized businesses (MSMEs) like yours thrive!

Now, let’s dive into how the GEEP loan can empower your Nigerian entrepreneurial journey!

GEEP Loan - How to Apply for a GEEP Loan

Types of GEEP Loan

To help grow businesses, the GEEP funding scheme is divided into 3 categories. They include:

1. Trader Moni

This category is for small business owners who need money to expand their businesses.

Fruit sellers and small-scale shop owners can apply for the Trader Moni loan.

2. Farmer Moni

Business owners that need loans under this category have to first register with the CAC (Corporate Affairs Commission).

3. Market Moni

This category is solely for agro-based business owners. Agri-business owners who require money to expand their businesses can apply for the Market Moni category.

How to Apply for the GEEP Loan?

Here’s how you can apply for the GEEP loan:

1. Go to the official GEEP Registration Portal

2. Next, go to the GEEP Link (if the portal is open, you should see a link).

3. Thereafter, click the link and go through the guidelines carefully. Click on “Application” once you’re done with this.

4. When you are ready to apply physically, just go to the National Orientation Agency in the state you live in.

However, if a GEEP loan isn’t your cup of tea, then check out EaseMoni – A quick way to borrow instant loans.

Note: Customers are required to open an account with the Bank of Industry before application can commence. A customer identification number will be created at the end of the account opening process.

Documents for GEEP Account Opening

Schedule of the shareholders signed by the company secretary. (Shareholders Register) for new customers and a confirmation of earlier submissions for returning customers
Full Incorporation Documents:
- Photocopy of Certificate of Incorporation
- A certified true copy of Memorandum and Articles of Association
- Forms CAC 2.5 (Allotment of Shares)
- CAC 2.3 (Particulars of Directors)
- CAC 2.1 (Appointment of Company Secretary)
Means of identification of all Directors of the company (i.e., photocopy of International Passport/Driver’s License and National Identity Card) and BVN of the Executive Directors.(note that the ID of all Directors are needed for compliance and credit search)

Note: The loan application process will begin after the account is opened.

Maximum Loan Amount for a GEEP Loan

For the GEEP loan, the maximum loan amount you can apply for is N300,000.

On the other hand, you can apply for a minimum amount of N10,000.

These loans are primarily interest-free and do not require any collateral. Also, you can decide to collect either short-term or long-term loans.

If you own a small or medium-sized business, take advantage of this chance to apply for the GEEP loan.

Struggling to find the right loan? Compare offers from multiple lenders in minutes on this secure platform. Find the perfect fit for your financial needs.

Documents Needed to Obtain a GEEP Loan

Here are some important documents you’ll need:

1. BVN (See how to check your BVN)

2. Local govt of origin certificate

3. Passport photographs

4. CAC certificate for businesses eligible

5. A valid national ID

How can I contact GEEP?

Here are some ways you can reach GEEP loan:

Address: https://www.boi.ng/our-locations/

Phone Number: +(234) 7002255264

Website: www.growthplatform.me

Email Address: customercare@boi.ng

Conclusion

The GEEP loan is just what you need to kickstart your business.

This awesome scheme offers collateral and interest-free loans, so you can focus on what you do best – building your dream.

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