LifeLine Loan App Review: loan app in Nigeria

LifeLine loan app is an online loan platform that offers fast micro and medium loans to Nigerian residents. The Android app allows users to borrow between ₦1,000 to up to ₦500,000 unsecured with no collateral and minimal documentation. When a customer makes the online application, the computer will check their credit score and make them an offer, thereby giving customers 24/7 access to loans.

An unsecured loan is a type of loan that does not require collateral or a downpayment to obtain. It is usually short-term with very high-interest rates.

Do be careful when taking loan from this app as most of the reviews on their play store page is fake. App developers that buy fake reviews are usually up to no good.

Do not borrow from an online loan app to fund your lifestyle. Short-term loans are helpful in emergencies but can be quite expensive and should be used with care.

This app has so far gained over 10k 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 the credit score of each borrower.

Because lending decisions are made by the computer, to qualify for higher amounts, be sure to keep good bank transaction messages on your phone and not have outstanding debts with other loan apps!

Note that online loans like these are usually much more expensive with very high-interest rates because they are unsecured and require minimal documentation to get.

How to Download APK and get a loan from LifeLine Loan app

  • Download the LifeLineLoan App 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 in about 5 minutes.
  • Make sure you’re using a good phone with enough memory space as you will be required to take a clear live selfie for identification.

Note that binding your ATM card with N30 does not guarantee that you will get a loan, you still have to pass the credit score check.

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.

Your credit score is a record of your previous borrowings, how early or late you make your payments, cash transactions going in and out of your bank account among other information.

When you download this app you have to consent to it to get access to your phone book contacts that will serve as your guarantors, SMS to see your banking transaction records, apps on your phone to see how you use other loan apps and other details it uses to build your credit score.

Although this app gives some customers loans, others have complained that the app deducted money from their banks after binding their ATM cards, be careful when using this loan app.

Is LifeLine loan app legit or a scam?

Yes, LifeLine loan app is a legit loan app that gives micro and medium-term loans up to a maximum amount of N500,000 to borrowers but has high-interest rates and bugs that prevent smooth registration. caution should be taken before taking any online loan. Always read other customers’ reviews before you apply for a loan in Nigeria.

You should know that these loan apps are not registered or regulated by the CBN or any government agency in Nigeria. You are responsible for the security of your transactions with them and there is no way to seek redress for poor customer service.

Also, its availability on the Google play store does not make transactions performed on it secure. The play store merely provides an avenue for download, you are responsible for your security while using loan apps in Nigeria.

Requirements to obtain a LifeLine  loan

  • Have a bank account and bvn; your eleven-digit BVN will be used to check your credit score.
  • Have source a of income
  • Have a good credit score; if you have a history of late payments with other loan apps you might be denied a loan or be given a very high-interest rate.
  • Reside in Nigeria
  • Have a smart phone with which to download the app; the app is only available on the Google play store accessible only with an Android smartphone.

Because there is no regulations in Nigeria, most of these apps are loan sharks who might threaten to send messages to your family members calling you a scammer if you default on your repayment. It is best to avoid these apps if you have other options.

If you’re being threatened or bullied by any loan shark in Nigeria, see this Facebook group where you can find support and read about the experience of others who have suffered bullying from loan apps.

What other borrowers are saying about LifeLine loan loan app

These reviews were written by users on the Google play store.

Nneka Samuel wrote, “So annoying. I have been trying to upload my picture and it’s telling me such useless timeout when am following the instructions. Please work on your app more to avoid such annoying and useless scenes.

Shola Thomas wrote, “This app is not encouraging with their interest rates and the cheap lies told by their agents to just recover loans before due dates. They say they want to upgrade but will block you after payment. Its a fraudulent app. Now u want to borrow me 10,500 for seven days and disburse 6,300?”

Blessing wrote, “This app is the worst app ever,i made payment of the loan you guys disbursed to me but it didnt reflect that i have paid due to the problem from your angle am very sure and because of your issue ,you guys are now charging me interest for money that i have paid back,you really need to work on your network issue because it very obvious you are extorting extra money from your customers.pls clear up that issue o because am not paying any money again o😠😈👎”

Interest rate?

✔Credit limit amounts: 3,000 to 300,000 naira
✔Service fee: 0.1% to 0.35% per day
✔Interest rate: Maximum APR is 20% per year
✔Repayment Period: 91 days – 365 days  
✔Example: for a cash loan with the principal amount of 20,000 naira with a 150 days loan period, the total service fee is N20,000*0.14%=N28, the total interest is N20,000*8.2%=N1640, and the total amount due would be N20,000+N28+N1640=N21668

Note that this interest rate and loan duration is just an example, expect your actual loan and duration to be much lower, but you can improve it by paying back your loan on time and keeping a good credit record.

Lifeline loan app customer service number

  • Consumer hotline: 09049008610
  • Customer Service Email:
  • Office: 77 awolowo way , ikeja Lagos


A writer! Columnist and an academic researcher
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