Moninow Personal Loans

moninow is a digital lending app through which people can apply
for and obtain loans of up to ₦300,000 for a repayment period of 3 months
to a maximum of 6months.
• Minimum and maximum period for repayment: 3 months to 6 months
• Maximum Annual Percentage Rate (APR): 35%
• Full loan repayment period is not less than 60 days
• No collateral
• No hidden fees
• Flexible loan tenors: Between 3 months and Six months

Example interest calculation for a sample loan as follows

Principal: 100,000.00
Loan Interest: (APR): 30%
Tenor: 4 months

Annual Interest (: 100000 * 0.3) :30,000 Naira
Total Interest for 4 mths: 100000 * 0.3 *4/12 :10,000 Naira
Monthly Interest : 2,500 Naira
Monthly Repayment (principal + interest) :27,500 Naira
Total Repayment :110,000 Naira

As customers repay their loans on schedule, they increase their reputations
and amount eligible for subsequent loans. Customers are accessed based on performance on previous loans to arrive at the APR.
Read more
Collapse
Loading…

What's New

1. Improved workflow for existing and new customers.
2. FastCash Implementation.
Read more
Collapse

Additional Information

Updated
November 29, 2021
Size
38M
Installs
10,000+
Current Version
3.9
Requires Android
4.2 and up
Content Rating
Everyone
Permissions
Offered By
Moninow
©2022 GoogleSite Terms of ServicePrivacyDevelopersAbout Google Play|Location: United StatesLanguage: English (United States)
By purchasing this item, you are transacting with Google Payments and agreeing to the Google Payments Terms of Service and Privacy Notice.