Personal loan online App Review: Payday loan App for Nigeria

One thing is clear, the developers of this Personal Loan Online app are so lazy that they can’t come up with a proper brand name.

The app is one of the multitudes of payday loan apps on Google Play Store that provides short-term loan services in Nigeria.
The loan app is exclusively available to Android phone users and application process is 100% online.

Loan Personal app is still relatively new in the business and has just about 10k downloads so far on Google play store with mixed reviews. It uses a loan software to collect prospective customers information including phone records, banking transaction alerts, BVN to build the credit score of each borrower.

To qualify for a loan or higher amounts, be sure to keep good bank transaction messages on your phone and do not have outstanding debts with other loan apps!

Application is simple, just download the app from Google play store, provide some information about yourself, the algorithm will analyze your information, calculate your credit score and make you a loan offer all Within a few hours.

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

  • Download the Personal Loan App exclusively available on the Google Playstore and install 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 Kwow-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 identify.

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 it gets access to your phone book contacts, SMS, and other details it uses to build your credit score.

Is Personal loan app legit or scam?

Yes, Loan Personal app is legit, the app does give out loans but caution should be excesissed before taking any online loan. Always read other customer’s 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 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 own security while using loan apps in Nigeria.

What Personal loan app can improve?

It is annoying when you get a text message telling you your loan has been approved, only to register with your details and be told you don’t qualify for a loan and should reapply in 7 days.

Loan Personal has a very high application rejection rate. If you happen to receive a text, That’s just an ad campaign and it doesn’t guarantee you’ll be given a loan.

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.

Loan Personal app interest rate?

Loan time tenure: from 91 days to 365 days.
Loan amount range: from ₦5000 to ₦ 500,000.
Loan interest: the total interest range is from 2% to 24%. The equivalent monthly interest is from 1% to 2% and APR is from 12% to 24%.

Example Interest calculation:
If you borrow ₦10,000 and choose to repay it within 3 months, then your monthly interest and service charges will be 1% for 3 months totaling 3%. We will therefore charge you interest of 300 for the entire repayment period.
Your total repayment amount will be ₦10,000 + ₦10,000 x 3% = ₦10,300.
Your monthly repayment is (₦10,000 + ₦10,000 x 3%)/3 = ₦3,433.

This interest rate and tenure 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.

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.

What will happen if I don’t repay my loan or pay my loan late?

Late loan repayments automatically incur a fee of 2% per day. It is therefore advised that one does not exceed the due date. Repay the loan by its due date allows you to access larger loan sizes. Late repayments will affect your ability to get subsequent or larger loans. If you are very late on your payments, you will be reported to the First Central Credit Bureau. Blacklisting by the First Central Credit Bureau may affect your ability to borrow from other lenders.

Loan Personal app customer service number

Phone: 09021130189
Email: [email protected]


A writer! Columnist and an academic researcher


  1. Me I don’t just understand this app, is it that you people give loan even when the person did not request??

    I have taken loan 3times which I repaid before the due date, but I don’t understand the reason why you people will just give me loan of 12,000,00 which I did not request for and your expecting me to pay 18,000 plus in less than one week.

    Please I’ve sent you people’s 12,000,00 back to your account, you people are still telling me that is remaining 6,000 plus to balance up, please I didn’t request for loan and I’m not paying any balance of 6,000 plus, the 12k you people sent to my account I’ve resent it back immediately I saw the money in my account.

    I don’t want to believe that you people are scarmmers o, because this robbish is really annoying.
    I am not paying any money again I’m serious.

    1. Hello,l want to repay my loan now,how do l go about it.and am not pleased with the way you guys are increasing my repayment money when it has not pass the due l say pls how do l mk my repayment.

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