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Yeah9ja Loan App Review: Online loan app in Nigeria

Embarrassed to borrow money from friends and family during emergencies? Yeah9ja is a lending platform that provides convenient lending services for Nigerian mobile users. With simple steps and minimal documentation, users can get qualified loan products with a 100% online process. Once approved, the loan amount will be immediately transferred to the applicant’s bank account.

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

This loan 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 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 Yeah9ja loan app

  • Download the Yeah9ja 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 Yeah9ja loan app

These reviews are from users on the Google play store for Android. The app developers bought fake reviews that can mislead unsuspecting borrowers. Here are some of the reviews from actual Nigerian users.

Emmanuel! Ewuga wrote, “The app does not function well. Just to send verification code takes forever. For over 24hrs now I’ve been unable to get a verification code. This is not a true reflection of your claims about the company.”

EBUKA James wrote, “Registration was easy and user interface is friendly but i am still wondering why the loan i applied for has been approved and disburse but i haven’t not received it yet since yesterday.. You guys need to work on this because the repayment date is counting already.”

khadijah opeyemi wrote, “I dnt know y it’s taking so long to approve the loan, my loan as been under review since yesterday evening, nice app very easy to apply with no stress but the review is taking so much 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.

Interest rate

Loan Products
1. Top level: ₦5,000 – ₦50,000
2. Time of loan: More than 90 days while the longest time is 365 days
3. Loan request: Need to be at least 18 years old or above
4. Interest fee: 0%
5. Nigeria Citizenship

Fee detail
For example: If your loan level is ₦8000. Payment period is 180days, and the APR is 39.6%; the total Interest should be ₦8,000 * 39.6%/2 = ₦1584. And the total repayment amount should be ₦8,000+₦1584=₦9584.
If you choose to make a one-time repayment, then you will make a one-time repayment of ₦9584 after 180 days.
If you choose to make monthly repayments, your monthly repayment amount will be ₦9584/6 = ₦1597.4

Loan principal: ₦8000 (180 days)
Interest (total interest of the loan): ₦1584 (19.8% rate)
Total amount payable: ₦9584
APR: 39.6%

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.

Yeah9ja loan app customer service number

  • Service Hotline: 018883539 (9am – 6pm(Mon-Fri), Sat-9am-5pm)
  • Service Email: yeah9ja.cs@gmail.com
    Office Address: 2-4 Tobi Lawal Rd, Lagos Mainland 101245, Lagos, Nigeria

Ismaeel

Statistician with interests in finance, risk management, loan products and market surveys. I also write on crypto currencies, Forex and a variety of financial instruments.

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