Micromoney is an establishment under the ordinance of the apex bank to provide excellent money lending service to deserving members of the public.
You have access to loan without having to make that long queue or finding means to meet up of stringent conditions common to approving a loan.
No one will ever ask you if you are using the loan to cover your tuition fees, wedding or blowing it for your spouse. The process has been made so easy to the extent that you don’t even need to make a physical appearance before getting your loan approved.
Micromoney is the idea of Lead Generation Company Limited, a company who specialises in providing short term facilities for urgent financial needs. This facility is available in Nigeria, Cameroun, and Zambia and can be accessed anywhere you are in respective countries.
Benefits of choosing micromoney
- It is quick to set up.
- No collateral and guarantor needed to get loan.
- Total transparency on the platform. Easily calculate how much you are paying back using the loan calculator.
- Money disbursed to any payment system after approval.
- Avoid having to wait long before being approved.
- Workers can have the financial freedom they deserve.
- No question asked on what loan is for.
How does micromoney work?
For most loan apps in Nigeria, the starting point is to download micromoney app from play store. Although the app is available on the play store for download, I will take a different approach this time.
Follow the steps to collect your first loan:
- Enter https://www.micromoneyafrica.com/ on your smartphone’s browser or on your computer’s browser.
- When on the site, you will scroll along the line to match your loan amount and also the repayment period.
- Enter your phone number and email address. Thereafter, take your cursor to “apply now” and click on it.
- Another page will open up, fill in the fields and add 3 images of your bank statement for the last 3 months. Let the image shows your full information like your bank name, account no and names.
- Click on “finish” to complete your loan request.
Update: The website is temporarily down for now, we will notify you when there are new changes. Thank You. The app is still working.
Now that you have done the most important part. There are some things you need to understand when using micromoney.
Amount to be taken should not be more than 40% of your salary. The minimum money that can be released to you is NGN1,500 while the maximum is N150,000. Loan repayment period is from 14 days to 28 days.
It might take a while before you get a status report on loan request, at times it might take hours before you receive a call due to the number of applicants in waiting.
Upon approval of your loan, you will need to provide some certain information such as BVN, account name and number, bank name, after that, you will have the fund sent to your bank account in few minutes.
Your first loan will be paid into your bank account, subsequent ones can be paid into bank account or any other payment system you provided.
Micromoney contact details
- Phone number/WhatsApp no: 09035344469
- Email: contactus@micromoney.africa
- Website: https://www.micromoneyafrica.com
Conclusion
The road to financial independence is not a get rich quick approach, not even living without debt like most people would have thought. Sometimes, it could mean you have someone to rely on when you want to make that huge payment, which of course is available through micromoney.
Micromoney won’t be up there on my top 10 if I am to select best loan apps in Nigeria with no collateral. The tenor is too short compared to others, even the interest rate does not excite me a bit. However, it does what it promises to do which is granting you easy approval of loans within the shortest time frame.
