EaseMoni is a mobile loan app that provides short-term loans to individuals in Nigeria. The app is available on both Android and iOS devices.
In this article we'll take a closer look at EaseMoni loan, its user-friendly USSD code, transparent interest rates, and the smooth repayment process. With just a few taps on your phone, EaseMoni opens the doors to easy borrowing without the hassle of lengthy paperwork or complex procedures.
About EaseMoni loan
EaseMoni loan is a financial service that offers quick and convenient loans to individuals in need of immediate funds. It provides a hassle-free borrowing experience through a user-friendly platform, ensuring that borrowers can access the funds they require swiftly and easily.
With EaseMoni, the loan application process is simplified, allowing users to apply for loans using their mobile devices without the need for extensive paperwork or complex procedures. This streamlined approach enables borrowers to receive the funds they need promptly, addressing their financial needs in a timely manner.
Transparency is a key aspect of EaseMoni loan. The platform aims to provide borrowers with clear and understandable terms, including interest rates and repayment schedules. By ensuring transparency, borrowers can make informed decisions and understand the costs associated with their loans, empowering them to manage their finances effectively.
EaseMoni loan also offers flexibility in repayment options, allowing borrowers to choose a repayment plan that suits their financial circumstances. This flexibility ensures that borrowers can comfortably meet their repayment obligations without undue strain.
EaseMoni loan USSD code
The EaseMoni loan USSD code is *347#. To apply for a loan using USSD, simply dial *347# and follow the instructions. You will be asked to enter your phone number, BVN, the amount of loan you want, and the repayment period. If your application is approved, the loan funds will be credited to your bank account within minutes.
Here are the steps on how to apply for an EaseMoni loan using USSD:
- Dial *347# on your phone.
- Enter your phone number.
- Enter your BVN.
- Select the amount of loan you want.
- Select the repayment period.
- Confirm your details.
You will receive a confirmation message if your application is approved. The loan funds will be credited to your bank account within minutes.
EaseMoni loan Interest Rate
The interest rate on EaseMoni loans depends on the amount of the loan and the repayment period you choose. The interest rate for a 14-day loan is 1% per day, the interest rate for a 21-day loan is 0.75% per day, and the interest rate for a 28-day loan is 0.6% per day.
For example, if you take out a 14-day loan of ₦5,000, the interest you will pay is ₦500. The total amount you will repay is ₦5,500.
The interest rate on EaseMoni loans is higher than the interest rate on bank loans. However, EaseMoni loans are also much faster and easier to get. If you need quick access to cash, an EaseMoni loan may be a good option for you.
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EaseMoni loan Repayment
There are two ways to repay your EaseMoni loan:
- USSD: You can repay your loan by dialling *347# and following the instructions.
- Online: You can also repay your loan online through the EaseMoni website or app.
To repay your loan using USSD, simply dial *347# and follow the instructions. You will be asked to enter your phone number, BVN, and the amount you want to repay.
To repay your loan online, simply log in to your EaseMoni account and click on the "Repay Loan" button. You will be able to enter the amount you want to repay and your bank details.
The repayment period for EaseMoni loans is also flexible. You can choose to repay your loan within 14, 21, or 28 days. The interest rate on your loan will depend on the repayment period you choose.
If you repay your loan before the due date, you will not be charged any late fees. However, if you repay your loan after the due date, you will be charged a late fee. The late fee will depend on the amount of your loan and the length of time you are late.
It is important to make sure that you repay your loan on time. If you default on your loan, your credit score may be affected. This could make it difficult to get a loan in the future.
FAQS
What is the interest rate for Easymoni?
The interest rate on EaseMoni loans depends on the amount of the loan and the repayment period you choose. The interest rate for a 14-day loan is 1% per day, the interest rate for a 21-day loan is 0.75% per day, and the interest rate for a 28-day loan is 0.6% per day.
For example, if you take out a 14-day loan of ₦5,000, the interest you will pay is ₦500. The total amount you will repay is ₦5,500.
How do I repay my EaseMoni loan?
There are two ways to repay your EaseMoni loan:
- USSD: You can repay your loan by dialling *347# and following the instructions.
- Online: You can also repay your loan online through the EaseMoni website or app.
To repay your loan using USSD, simply dial *347# and follow the instructions. You will be asked to enter your phone number, BVN, and the amount you want to repay.
To repay your loan online, simply log in to your EaseMoni account and click on the "Repay Loan" button. You will be able to enter the amount you want to repay and your bank details.
How much can I borrow on EaseMoni?
The maximum amount you can borrow on EaseMoni depends on your credit score and repayment history. However, the minimum amount you can borrow is ₦3,000 and the maximum amount is ₦100,000.
Is EaseMoni a legit loan app?
Yes, EaseMoni is a legitimate loan app. It is regulated by the Central Bank of Nigeria (CBN) and has been in operation since 2018. EaseMoni has a good reputation and has been reviewed positively by many users.
What happened to Easemoni loan?
EaseMoni is still operating and is one of the most popular loan apps in Nigeria. However, there have been some reports of users having difficulty repaying their loans. In some cases, users have reported being charged excessive interest rates or being harassed by debt collectors.
Conclusion
In conclusion, EaseMoni loan offers a convenient and accessible solution for individuals in need of quick funds. Through their user-friendly platform and USSD code, borrowers can easily apply for loans without the hassle of extensive paperwork or complex procedures. The transparent interest rates ensure that borrowers are well-informed about the costs associated with their loans, enabling them to make informed decisions.
EaseMoni also prioritizes flexibility in repayment options, allowing borrowers to choose a plan that suits their financial capabilities. This ensures a smoother repayment process and helps borrowers manage their loan obligations effectively.