Lucky Loan App Review: Instant loan app in Nigeria

Lucky loan is an app from Good Luck Technology LTD that provides emergency loan services to Nigerians up to the tune of N500,000.

The app is relatively new on the Google play store and like most loan apps uses Artificial Intelligence AI to analyze prospective customers financial records, including the bank transaction SMS on their phones and their credit worthiness from other lenders. To qualify for a loan and get a high loan amount always keep your bank transaction records on your phone.

The loan application process is quick and easy online loans with no paperwork! And no collateral required. You get a revolving loan with higher amount every time you repay your previous loans.

If you need quick loans, maybe it’s for that purchase you just can’t wait for, or to take advantage of a great deal before you miss the opportunity. Or, perhaps an unexpected expense has come up and you don’t want to compromise your lifestyle.

How to Download and Apply for Lucky loan app?

  • Download and install the Lucky loan App from Google play store
  • Register for an account using your 11 digit BVN number and your phone number
  • Provide some information about yourself including your date of birth
  • Verify your identity and that the information you’ve entered is correct.
  • You will be required to bind your ATM card to your account as a means of repayment.
  • The app will go through your contacts and keep a record of your frequently called contacts in the background
  • Get money sent directly to your bank account, loan disbursement usually happens in minutes if you’re qualified.

What are the requirements?

  1. Be a Nigerian citizen or legal Resident.
  2. Be between the ages of 18-55 years old.
  3. Have a Monthly income source.
  4. Bind your ATM card to your account
  5. Provide the contact number of three of your friends or family that will be verified.

Lucky loan app interest rate?

Loan period: 91 days to 365 days as advertised on the app tho first time borrowers get less than 7 days loan tenure.
Loan amount: from NGN 20,000 to NGN 500,000.
Loan interest: ranges from 4.5% – 34% with an equivalent monthly interest of 3% – 29% and APR of 29% – 365%.

if you choose a 6-month loan and borrow NGN 1,000, AngelLoan charges an interest rate of 4.4% per month. And the interest rate is 26.4%, we would charge you GNN 263 as interest of 6-month repayment period. Total amount of repayment is NGN 1,263.

This interest is just as an example, expect your loan amount and period to be significantly lower if you’re borrowing for the first time. You can increase your amount by keeping good records and paying back loan on time.

Is Lucky loan app legit?

Yes Lucky Loan app is legit and does give out loans to customers but with extremely high interest rates most especially for first time borrowers. Read other customer’s reviews on play store before you apply for a loan.

What Lucky loan app can improve?

There is a lot to be improved on this loan app.

First, the loan interest rate on the app is extremely high especially for first time borrowers. The app can also trick borrowers into taking the extremely high interest. for example, when you apply for a loan the app will calculate how much you qualify for and make you a loan offer.

But your loan offer already contains the interest. You might qualify for N11,000 but only N7,000 will be disbursed to your account for a seven day tenure and the remaining N4,000 calculated as interest. Some customers have also complained of hidden charges in addition to all these.

Lucky loan app also has some bugs, some customers have complained about not being able to input their date of birth.

This app is also known to call defaulting customers who are unable to repay their loans on time and send them threatening messages. They might also send similar messages to your contacts.

Loan amount for first time borrowers is extremely small, starting from N2,000 which doesn’t seem to improve much for repeat borrowers.

Lucky loan app customer service number

Email:[email protected]


A writer! Columnist and an academic researcher


  1. This app is a very bad app they debited me twice when my loan is not even due pls band this app they are scarm

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