Free
In Nigeria V1.0.1.2
5.0 (1 million +)
Security Status
in Nigeria
in Nigeria
Free
In Nigeria V1.0.1.2
5.0 (1 million +)
Security Status
Personal loans have become a popular way for people to access funds quickly and conveniently in Nigeria. With the increasing use of smartphones, there has been a rise in the number of personal loan apps available for Nigerians to access loans. However, when it comes to repaying these loans, many Nigerians are still unsure about the repayment methods available. In this article, we will explore the different repayment methods for personal loan apps in Nigeria.
1. Direct Debit Repayment Method
Direct debit is one of the most common repayment methods used by personal loan apps in Nigeria. This method involves linking your bank account to the loan app, and the loan repayment is automatically deducted from your account on the due date. This method saves time and reduces the risk of forgetting to repay the loan.
2. Card Payment Repayment Method
Free
In Nigeria V1.0.1.2
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for Android
Card payment is another repayment method available for personal loan apps in Nigeria. This method requires you to enter your card details on the loan app, and the loan repayment is deducted from your card on the due date. This method is convenient for those who do not want to link their bank accounts to the loan app.
3. Bank Transfer Repayment Method
Bank transfer is another repayment method available for personal loan apps in Nigeria. This method involves transferring the loan repayment amount directly to the loan app’s bank account using your bank’s mobile app or internet banking platform. This method is suitable for those who prefer to make manual payments and want to have control over their loan repayments.
4. Payroll Deduction Repayment Method
Payroll deduction is a repayment method that allows borrowers to repay their loans directly from their salary. This method is suitable for employees who have a regular salary and want to ensure that their loan repayments are made on time. The loan app will deduct the loan repayment amount from the borrower’s salary before it is paid into their account.
5. USSD Repayment Method
USSD repayment method involves the use of Unstructured Supplementary Service Data (USSD) codes to repay loans. This method requires the borrower to dial a specific code on their mobile phone and follow the prompts to complete the loan repayment. This method is suitable for those who do not have access to smartphones or internet banking platforms.
6. Cash Payment Repayment Method
Cash payment is another repayment method available for personal loan apps in Nigeria. This method involves the borrower visiting the loan app’s office or partner location to make a cash payment for the loan repayment. This method is suitable for those who prefer to make manual payments and want to have control over their loan repayments.
In conclusion, personal loan apps in Nigeria offer different repayment methods to suit the preferences of borrowers. It is important to choose a repayment method that is convenient and easy to use to ensure that loan repayments are made on time. Borrowers should also read and understand the terms and conditions of the loan before applying to avoid any surprises during the repayment period.
Free
In Nigeria V1.0.1.2
5.0 (1 million +)
Security Status
in Nigeria
in Nigeria
Free
In Nigeria V1.0.1.2
5.0 (1 million +)
Security Status
LairaPlus is one of the best loan apps in Nigeria with low interest.
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