Fair Money is another money lending app in Nigeria that offers quick loans without collateral within a minute after the application and approval of the loan you requested.
Fair Money lending app allows you to borrow as low as N1500 – 1 million Naira within 1 minute of approval. The apps work with artificial intelligence and machine learning tech to evaluate their customers before lending out money. This technology uses the bank verification number to know the credit score of the applicant before giving out the loan. If a borrower passes the algorithm of the mobile app, it will automatically lend out the money.
Fair Money Loan company was launched around march 2018, ever since the company was introduced, they have lent out over 1 billion Naira to Nigerians, and currently the company boost of giving out over 1500 loans out on a daily basis.
This is a figure for a new company that is not even up to 4 years as at the time of writing this article. They were able to build a huge customer base due to their transparency and great customer support.
How Does Fair Money Loan Works?
The app allows users to borrow money without using any of their assets as collateral by just downloading the mobile application, filling in all the required details, and submitting the loan request. Upon approval of the loan, the borrower will automatically receive the fund in less than a minute.
To borrow money from fair money, you’ll need to download the Fair Money Application from Google Playstore for free.
Also Read: Get a Loan without BVN
What Is The Interest Rate Of Fair Money?
One of the interesting things about the Fair Money Loan Application is the interest rate. The application offers one of the best rates out there among its competitors in the lending business.
Fair Money Loan Application offers an interest rate of 10%-30% with a 60 days duration or tenor. With Fair Money Loan App you can borrow from N1,500-N1,000,000 at the time of writing this article. I believe with time the company will increase the maximum amount.
There are no hidden charges with the app, you get what you are being given. The more you pay back your loan, the more your credit score increases. This will allow the application to grant you loans frequently if you are able to maintain a good credit history.
How To Apply For Fair Money Loan
Applying for Fair Money Loan is pretty easy. All you need to do is to follow the steps below. Before you proceed, ensure that you have an android smartphone that can run the mobile application.
This process will take less than 5 minutes to complete and you’ll receive your money almost instantly if you’re qualified.
Install the fair money loan application
Open the fair money mobile application and click on the “Get Started” button to proceed.
Enter a valid phone number (Preferable the one linked to your bank verification number)
Fair money will send a verification code to your phone number, enter the code
Create a security pin number (Ensure it is something you can remember easily)
Fill the form with your real details if you want to get a loan.
Also Read: Auto Loans In Nigeria
How To Download Fair Money Loan App
As I have mentioned above earlier, for you to download the fair money mobile app you need to visit Google Play Store to download the application or better still you can click this link to download the APK version of the fair money mobile app if your device cannot access Google Play Store.
Fair Money Loan App Login
You can log in to the fair money mobile app by signing up and creating a unique password. Make sure that the password is unique and difficult to guess by an intruder who might get access to your phone. The app also has a biometric feature that allows you to automatically login into your device and authenticates transactions using your fingerprints.
Requirement For Fair Money Loan
Fair money does not have any requirements such as submitting a statement of account, signing a document, or bringing a guarantor.
All you need to do is to sign up and apply for the loan you want to borrow. Once the application evaluates your loan application, you’ll automatically receive the money within a few minutes.
How To Contact Fair Money Loan Customer Support
For any inquiry or problem you encounter, you can contact Fair Money Customer Support with the following details below.
Physical Address Of fair Money Customer Support
Customer Support Mail:
Fair Money Phone Number
01 7001276 / 01 8885577
Also Read: Paylater Loan In Nigeria
Fair Money Loan App Review (Legit or Scam?)
The Pros Of Fair Money
- Speed of delivery – You can get a loan instantly in 5 minutes, from anywhere in Nigeria
- Flexibility – You can repay on or before your due date No hidden charges
- No Third-Party– You don’t need to bring any guarantor even if you’re taking a loan of 1 million Naira.
The Cons Of Fair Money
Currently, we haven’t found any reasons why you should not use Fair Money Loan App. The App is op-notch with great features.
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