Moniepoint Loan – How To Get a Loan From Moniepoint

Last Updated on May 16th, 2024

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:

  1. Easy application process
  2. Fast loan approvals
  3. Flexible loan amounts
  4. Competitive interest rates
  5. 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:

  1. Enter *888# on your mobile phone. This step starts the loan application process from your phone. You can use any type of mobile device.
  2. 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.
  3. 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.
  4. 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

  1. Open the Moniepoint app on your smartphone. If you haven’t installed it yet, you can download it from your device’s app store.
  2. Within the app, go to the “Loan” section. This area is dedicated to loan applications and information.
  3. Moniepoint may offer you pre-approved loan offers. The offers depend on your eligibility and creditworthiness. Review these to understand what you qualify for.
  4. 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.
  5. Provide any additional required information or documents to support your loan application. This step is crucial for the final approval process.
  6. Moniepoint will review your application. This review process is typically quick, taking a few minutes to a few hours.
  7. 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.
  8. 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:

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

For iOS Users:

  1. Go to the App Store on your iOS device.
  2. Use the search feature to find “Moniepoint.”
  3. When you’ve found the Moniepoint app, tap on “Get” to download and install it on your device.
  4. 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 for support. Or, they can email 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.


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.

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