Home Loan Application How to borrow Money from Fairmoney and the requirements

How to borrow Money from Fairmoney and the requirements

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Fair Money is one of the fastest and most dependable apps for getting loans online without hassle. If you’ve been having problems taking a loan on FairMoney, I’m really glad to let you know that you’re at the right place.

Here in this post, you’ll be shown how to borrow money from FairMoney in a flash. All you have to do is sit back and read this article, and by the end of it, you’ll be able to do that.

What is Fairmoney all about?

Fair Money is a digital bank that was established in early March 2018. It is a platform that offers instant loans without the need for collateral. And to borrow money from the app is easy, once you meet the requirements you can borrow up to N500,000.

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It also offers up to thirty free transfers per month, high savings interest, a free debit card, and discounted bill payments. Additionally, you will receive a lot of cash back when paying any kind of bill, as well as rewards for referring others to the platform. There are also a ton of other enticing bonuses you can take advantage of.

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Requirements to borrow money from fairmoney.

Before you can get a loan from fair money, you must fulfill a few requirements on the fair money app. However, if you don’t know how to do so, this will walk you through the process you need.

  • Basic details about you, like your name, last name, and email
  • BVN, or bank verification number
  • True bank account information
  • mobile phone
  • A working smartphone

How to borrow money from fairmoney

To get loan from fair money, you need to follow the steps below;

  • Download fairmoney app to your smartphone
  • Then you sign up for an account 
  • You will have to answer a few questions for security purposes 
  • Location must also be enabled to  make fair money access your location 
  • Also, you have to provide at least three numbers which are family, colleague and friend 
  • Identify yourself whether you are a student or employee or an employer or unemployed
  • Provide your address 
  • Choose repayment term  
  • Bind your bank account where your loan will be deposited 
  • Also your ATM card
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You must have the sim you use for getting alerts in your smartphone in order to have a good credit score

NOTE: The requirement for ATM and your BVN is not meant to cause any harm. However, if you don’t repay your loan at the appropriate time, your money will automatically be deducted from your bank account, and as for your BVN when you refuse to pay back the loan you will report to the credit bureau.

Fairmoney interest rate and the repayment period

The highest amount that Fair Money can loan is only One Million Naira, and the lowest amount that Fair Money can lend is One Thousand Five Hundred Naira. Well, the repayment period ranges from Sixteen Days to One Hundred Eighty Days, and there are no hidden fees when processing the loan.

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Furthermore, if your fairmoney loan is about to be due you will be notified by the company in a polite way. However, you can extend your loan by 2weeks or one month with the addition of 3 days.

Conclusion on how to borrow money from fairmoney

I assured you that, this app is the best platform I ever trusted in lending their customers money with meager interest.

Finally, I know that most people are looking for an app that, will fetch them some little cash to invest as well as take care of their daily needs: I hereby draw their attention to this fairmoney app.

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