LendNow - Online safe loan 1.1.5

LendNow - Online Safe Loan is a loan application designed for the Nigerian market, offering cash loan services with round-the-clock accessibility. The app facilitates easy loan approvals, providing users with flexible repayment plans that do not require collateral or a guarantor. Loan amounts are tailored based on risk evaluations to align with individual financial needs.

Loan Product Overview:

• Loan Amount: ₦3,000 - ₦300,000
• Loan Term: 91 days and above
• Interest Rate: 2.5% - 20%; Maximum APR of 19% per year
• Service Fee: None

Loan Calculation Example:

For a personal loan of NGN 10,000 borrowed for 99 days at an interest rate of 19% per year, the calculations would be as follows:

• Interest Payable = NGN 10,000 * 19% * 99 / 365 ≈ NGN 515.34
• Total Repayment Amount = NGN 10,000 + NGN 515.34 = NGN 10,515.34
• Monthly Repayment = NGN 10,515.34 / 99 * 30 ≈ NGN 3,186.47

App Advantages:

• Personal loans ranging from NGN 3,000 to NGN 300,000
• Completely paperless loan application process
• 24/7 access to personal loans
• Diverse payment methods for convenience
• Timely repayments can enhance credit scores and allow eligibility for higher amounts
• The Repay Later option enables users to pay a part of the loan on the due date while extending the repayment term multiple times

Loan Requirements:

• Age: 18 - 65 years old
• Bank Verification Number (BVN)
• A valid mobile number for emergency contact regarding the loan

Application Steps:

1. Install the LendNow app.
2. Log in by registering with your phone number.
3. Provide basic information to assess loan eligibility.
4. Submit your application for an instant loan.
5. If approved, the loan will be disbursed directly to your bank account.

Data Protection Policy:

LendNow is committed to safeguarding customer information and ensuring user privacy. The app is built with security in mind and will never share customer details with third parties without explicit consent. Personal information is solely utilized for verification and qualification assessment within the LendNow platform.