EaseMoni is an application for Android devices that is a mobile client of BlueRidge Bank. The utility allows residents of Nigeria to apply for microloans online without visiting the office.
Getting started
At the start, you need to log in with your phone number and some personal data. For verification, you have to provide photocopies of your ID. It may be a driver’s license, passport, or some other documents.
Next, it is necessary to fill out a short questionnaire providing your source of income. The request is processed within a few minutes, unlike Fadhili loans. If the loan is approved, it is credited to your bank account or debit card.
Loans
This service provides credits from 3.000 to 1 million Nigerian nairas for a period of 91 to 365 days. The interest rate is from 5 to 10% per month, respectively, from 60 to 120% per annum.
The amount of the commission depends on the size of the loan and the terms for which it was issued, as well as on your credit rating. Repayments are made in equal installments every month.
The application reminds you to refund the loan before a certain date. Payments can be made via bank transfer, debit card, or e-wallet. It is worth noting that the funds are provided without collateral, deposit, or a guarantee.
Features
- allows Nigerians to apply online for microloans;
- verification is required;
- the request is approved within a few minutes;
- reminds you to refund the loan before a certain date;
- app is free to download and use;
- compatible with current Android versions.
