Connect with us

Finance

Does Moniepoint Give Loan?, Limit, Requirements, Interest, Apply

Published

on

Does Moniepoint Give Loan?, Limit, Requirements, Interest, Apply

Does Moniepoint Give Loan?, Limit, Requirements, Interest, Apply

Do you need a loan to meet an emergency need or to kickstart your business then you think about moniepoint. But wait, does Moniepoint give loan and can you get a loan from moniepoint?

Don’t worry, in this blog post, you shall find an answer to this popular question (does moniepoint give loan). However, before getting into answering the question, let me first unveil what moniepoint is all about.

What is Moniepoint?

According to Wikipedia, moniepoint which was formerly TeamApt is known as a Fintech company which is based in Lagos Nigeria providing banking services through their banking app. 

This company was founded by Tosin Eniolorunda as the CEO and Felix Ike CTO as far back as 2015. 

This reputable Fintech company was previously founded under the name, TeamApt  and received licence from the Central Bank of Nigeria in the year 2019. 

So now, let’s go see answer the does moniepoint give loan.

Does Moniepoint Give Loan In Nigerian?

In this section, I’ll not only provide answer to the question (does moniepoint give loan) but also show you the moniepoint loan limit, moniepoint loan interest rate, moniepoint loan requirements, how to apply for moniepoint loan easily in 2024.

So, does moniepoint give loan?

The answer is nothing but “Yes”. However, you should understand that moniepoint is quite different from other apps or platforms that give loans. 

Moniepoint gives loans to businesses and SMes.

Now let’s see the moniepoint loan limit.

Moniepoint Loan Limit

Based in the research conducted, moniepoint give loans starting from N1 million, as you can see, it steer clear from other loan apps where you can borrow as low as N1,000.

Moniepoint mainly focuses on empowering individual businesses and SMes with their loan which start from N1 million.

Now let’s get into finding out the moniepoint loan interest rate.

Moniepoint Loan interest Rate

Moniepoint as a legitimate banking platform backed by the Central Bank of Nigeria (CBN) has a flexible and interest rate which ranges between 24%- 40% per annum and the approval process is usually between 24-72 hours.

You need to meet the moniepoint loan requirements that is why I also have to provide them here.

Moniepoint Loan Requirements

Since moniepoint mainly provide loans to businesses and SMes, their requirements is quite different from others. The moniepoint loan requirements are as follow:

  • You need a Moniepoint Business Account accessible via the app or web portal
  • You need a fully verified Moniepoint Business Account Business Name Certificate of Registration (CAC)
  • Business Ledger Valid for Six Months
  • A Good Credit Score/History
  • You must be at least 18 years of age.

Those are the essential moniepoint requirements you must meet before you can get a loan. Now let’s see how to apply for moniepoint loan in 2024

Does Moniepoint Give Loan?, Limit, Requirements, Interest, Apply

Does Moniepoint Give Loan?, Limit, Requirements, Interest, Apply

How to Apply for Moniepoint Loan

The process of getting a loan from moniepoint is quite simple if only you follow the steps I’ll be providing in this blog post. 

Kindly follow the step by step here.

Download App: First and foremost, you need to first download the moniepoint app. Please do note that the moniepoint app you will download is the Business Banking App.

Read: How to Apply for Flexi Cash Loan on PalmPay

Ensure you see “Moniepoint Business Banking” tag on whichever you are going to download on the Google play store or Apple App Store.

Launch And Sign Up: After you have successfully downloaded the moniepoint business banking app, launch it.

After that, open an account providing your name, BVN, NIN, password and other essential account opening requirements. After that, click on the option to login. 

Apply for Loan: After you’ve successfully signed up and login, locate the “Application Button” on the app.

Tap on it, answer every necessary question as well as provide everything requirements from you. Enter the amount of money you want to borrow. 

Wait for Review: After you’ve applied for the loan, kindly note that your loan will not be approved or disapproved immediately, the loan review usually takes 24 to 72 hours, you need to patiently wait for the final review.

If finally approved, you will find your loan in your Moniepoint account.

Conclusion

You’ve just found the answer to the question “does moniepoint give loan) and I’ve answered it. 

However, while the answer is ‘Yes’, kindly note that your loan may not be approved at the first trial, you may need to try again after disapproval or seek for an alternative.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending