SpeedLoan is a mobile loan app in Nigeria that offers instant cash loans of up to ₦600,000 for a period of 91 to 365 days. The maximum APR is 20%, and the transaction fee is between 0.1% and 0.35%.
Here are some key things to note about SpeedLoan:
- Eligibility: You must be a Nigerian resident aged 18 to 60 with a valid government-issued ID and a valid bank account.
- Loan terms: You can borrow between ₦2,000 and ₦600,000 for a period of 91 to 365 days.
- Interest rates: The maximum APR is 20%.
- Fees: The transaction fee is between 0.1% and 0.35%.
- Repayment: You will repay your loan in monthly installments, including principal and interest.
To apply for a loan with SpeedLoan, you will need to download the app and create an account. Once you have created an account, you can complete a loan application form. The app will then evaluate your creditworthiness and make a decision on your loan application. If your speedloan is approved, you will receive the money in your bank account within 24 hours.
Here are some tips for using SpeedLoan responsibly:
- Only borrow what you want can afford to repay.
- Be sure to read and understand the terms and conditions of your loan agreement before signing it.
- Make your loan repayments on time to avoid late fees and penalties.
- If you are struggling to repay your loan, contact SpeedLoan immediately to discuss your.
Overall, SpeedLoan is a convenient and easy-to-use loan app that can be a helpful option for Nigerians who need quick access to cash. However, it is important to borrow responsibly and to be aware of the interest rates and fees associated with SpeedLoan loans.
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