Fundy Loan App Review: online app in Nigeria

Fundy is a Naira cash loan app that provides micro loans for emergency uses. Online loan apps provide easy access to emergency loans with very minimal requirements. 

With just your BVN and an ID card, you can get cash limit of up to #100k sent to your bank account within minutes. You do need to have a good credit score, and good SMS banking record on your phone to qualify for higher amounts.

This loan app is relatively new and has so far gained over 50k downloads on the Google play store with mixed reviews. It uses loan software to collect prospective customers’ information including phone records, banking transaction alerts, and BVN to build each borrower’s credit score.

Because of their minimal documentation and no collateral requirement, online loans are very expensive with high-interest rates. They should not be taken to fund one’s lifestyle but rather should only be used for emergency needs.

How to Download APK and get a loan from Fundy loan app

  • Download the Fundy personal Loan App exclusively available on the Google Playstore and install it on your Android phone.
  • Register an account with your phone number.
  • Preferably the phone number connected to your BVN as a one time password will be sent to it for verification.
  • Fill in your basic Know-your-customer KYC information, including your residential address, next of kin and employment details
  • You will also be required to provide your Biometric verification number BVN.
  • You’ll be charged N30 to bind your ATM card to your account to increase your chances and get a higher loan amount.
  • A one-time password OTP will be sent to your phone to confirm your details.
  • After the submission of your loan application, the software will analyze your credit score and the final result will be shown in the APP.
  • The result should be displayed in less than two minutes and if you qualify for a loan, the loan amount will be disbursed into the bank account directly.
  • Make sure you’re using a good phone with enough memory space as you will be required to take a clear live selfie for identity.

The N30 charged to bind your ATM card to your account is refundable, but can take anywhere from 7 to 12 business days for the money to be refunded back to your bank account.

Your BVN is linked to your credit score, so if you have an outstanding loan with other lenders or didn’t pay other lenders as at when due, expect your application to be rejected.

Note that online loan apps are not licensed or regulated by any government agency in Nigeria, you are responsible for your own safety while taking a loan from them as there is no way to make complain about poor service.

What other borrowers are saying about Fundy loan app

These reviews are from users on Google play store.

Emmanuel Njoku wrote, “After taking a loan from these guys, they were threatening and sending messages to my contact on the date of repayment, not even after, I wasn’t even overdue yet, then I paid their loan and exorbitant interest, but they don’t want to clear the loan on the app, and it’s adding up overdue charges. Developer, contact the company to do something about it.”

Elabraham Egbeyemi wrote, “What the heck? After ur cc officers forced me to use ur loan platform promising only 15% interest, I went ahead to install & apply for a loan only for the d app to put d figure that is available to be loaned to me at #6300, and they put d repayment amount at a ridiculous 11k plus… WHAT THE HECK?? so I chose d cancel option when I was prompted to agree or reject, but to my astonishment, d loan was already credited into my account…WHY?? I’ll repay 7k, when due, and won’t pay a kobo more!”

What are the requirements?

  • Be a legal citizen or legal Resident of Nigeria
  • Be at least 18 years old.
  • Have a Monthly income source.
  • Bind your ATM card to your account
  • Provide details of two of your next of kins including their phone numbers.
  • Have a good credit score with no outstanding loans from other lenders.
  • Have an active bank account.
  • Your phone number must be the one connected to your BVN.
  • Have a valid government issued ID card.

Interest rate

*Loan products
Loan Amount: Minimum Loan 10000, Maximum Loan 100000
Annual interest rate: the lowest annual interest rate is 10%, the highest annual interest rate is 35%
Loan Term: The minimum loan term is 91 days and the maximum loan term is 365 days

Loan example:
Loan Amount = 20000 Naira
Loan Term = 300 days
APR = 10%
Calculation formula:
Total interest = loan amount * annual interest rate * loan term (days) / 365 (days)
Total interest = 20000 *0.1 *300 / 365 =1643.84
Total repayment = loan amount * annual interest rate * loan term (days) / 365 (days) + loan amount
Total repayment=20000 *0.1 *300 / 365+20000=21643.84

Note that this interest rate is just an example, your actual interest rate on the app will depend on your credit score and how much information the app can get from your device. Keep banking SMS records on your phone to increase your chances of getting a higher loan amount.

Fundy loan app customer service number

  • Service Hotline: 0818883539 (9am – 6pm(Mon-Fri), Sat-9am-5pm)
  • Service Hotline: [email protected]
    Office Address: 6 Harold Shodipo Crescent Ikeja Lagos Nigeria


A writer! Columnist and an academic researcher
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