Need a moneylender that gives instant loan without having to stress you about providing security? Engage with Eloan.
Whatever you need the loan for, They are always available to cater to your needs. It could be used for house rent, improve home appliances, start a small business, upgrade or buy gadgets and even plan a date.
The loan comes with no care as to what you need the loan. For formality, you might be asked but does not influence the decision of the loan. The guiding principle for most loan is to have a source of living.
For eloan, it is basically for salary earners. Business owners might need to arrange a special meeting with them or discuss it over through their contact details which will be shared in this article.
Eloan may not be the popular choice but remains the right spot to visit when you are in an emergency situation and equally need an emergency loan to work it through.
Why you should choose eloan?
There are many reasons why you should get your loan from eloan, they are:
1. Ease of usage
It is very easy to apply for a loan on eloan but you need an android smartphone to access the service. With just that, you can have your way into getting a short term cover.
2. Repayment is made easy and flexible
There are good numbers of ways available to make your repayment convenient. Eloan offers both offline, online methods and even auto-debit channels to make sure your payments get to them in time.
Just select what is convenient for you and watch as you grow your credit score which could definitely prove a big deal someday.
3. Access to more fund
If you are a first time user, you may be restricted to a small amount until they are convinced you can be relied upon. The key to getting more funds is to repay the loan on time.
It is even better if it is paid before the repayment date. This really helps and raises your credit score.
4. Enjoy top-class protection
Eloan will ensure your data is secured using encryption. This is in line with regulations made by the apex financial institution to ensure customers’ sensitive data are well protected.
Aside from providing loans to deserving members of the public, one of the duties is to ensure that your data is free from prying eyes.
5. Paperless transaction and no need for office visitation
For those of us who dislike having to fill the paper, the good news is that everything is basically done online. There is also no need to visit the office. If you have an emergency situation, you can reach them through their contact details or visit their office if it remains the only option for you.
6. Anyone between the ages of 25 to 50 years can apply
The loan is not just for the young at heart, people not more than 50 years old can also apply for the loan.
The main condition is to have a verifiable and fixed-job.
How does eloan work?
The loan process is very simple to understand. Eloan gives out a loan from N5,000 to N100,000 with the repayment period ranging from 3 months to 6 months, that is 91 days to 180 days.
4.5% to 34% is the service and interest fee depending on how much loan you got and with an equivalent monthly interest of 3% to 39% and APR of 29% to 365%.
For instance, if you opt for a loan of N2,000 that is meant to go for a period of 6 months. E loan will charge 4.4% interest on the loan each month. 4.4 multiply by 6 (months) will give 26.4.
Therefore, you will be charged N526 for the interest rate. The total amount that will be recovered from you is N2,526 (the principal and the interest rate).
How to apply for the loan
- Go to your play store and download eloan app.
- After download and installation on your android phone, open the app and click on apply now.
- A new page will pop up asking you to provide your mobile number. Enter the number and make sure it is connected to banking details.
- Select the reason why you need the loan, the amount and repayment period.
- Provide other information requested including your bank account.
- Submit and wait for the approval. You will be contacted shortly regarding the status of your loan.
Eloan contact details
Address：Plot 9, Acme Rd, Agidingbi, Ikeja, Nigeria.
Facebook page: https://www.facebook.com/ELoanservicemanagement
Conclusion
Eloan is yet another moneylender that answers when you called. Although, there are several loan apps available on google play store, eloan serves the same purposes as the rest.
There are not much differences between the likes paylater, branch loan and creditwallet except for the credit limit.
Also, the APRs varies based on the respective loan providers and certain factors. However, loan can always be the best option when you are in a very tight postion.
