♫ Nell first ♫
Credit: ₦ 50,000 – ₦ ₦ 250,000
Loan Duration: Minimum 91 days, Maximum 365 days
Interest Rate: 0.0057 %
Maximum Annual Interest Rate Effective Annual Interest Rate: 20.55 % The
calculation is very simple. For example, if you select a loan with a term of ₦100,000 and a term of 12 months, the following details are displayed:
installment plans: 12.
Expense Amount: ₦100,000. Expense Amount = Capital – Expense ₦100,000 – ₦0 = ₦100,000.
PMT (Monthly Payment): ₦10045.8. PMT = ₦100,000 x (1 + 20.55%)/12 = ₦10045.8.
Total interest: ₦20,550.
Total: ₦120,550. Total Amount = Principal + Total Interest = ₦120,550.
Total interest: 20.55%. Gross Interest = Total Interest / Principal * 100% = ₦120,550 / ₦100,000 * 100% = 20.55%.
Monthly interest rate: 1.71%. Monthly Interest Rate = Gross Interest Rate / Interest Rate = 20.55% / 12 = 1.71%.
♫ At Fastnell ♫
1. Create an account.
2. Applies in seconds.
3. Receive the loan directly into your bank account.
4. Increase your credit limit each time you repay a loan.
♫ Credit Eligibility ♫
1. Nigerian citizens.
2nd place 18+.
3. Valid Documents and Evidence.
4. You must have a valid bank account.
♫ About First Nell ♫
Merit Finance Credit Corporation Limited is a systemically important microcredit company within the Soft Naira brand group of companies.
Merit Finance Credit Corporation Limited developed FirstNell as a free app.
All loan applications are approved and authorized by CBN (Central Bank of Nigeria) and will be notified in advance at the time of loan .
Address: Trans Amadi Industrial Layout of Community Secondary School Road, Port Harcourt, Nigeria
Mobile: +234 8056294848.
Monday to Friday: 9am to 6pm Until: 12:30 am
Saturday – Sunday: 10:00 am – 6:00 pm
What's new for FirstNell-Best Personal loan appsFirstNellMerit Finance Credit Corporation Limited built the FirstNell as a Free app.All loan applications are approved and sanctioned by CBN(Central Bank of Nigeria) and communicated upfront during Loan application.
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