SuperLoan Personal loan Review

SuperLoan app could also be a  Nigerian smartphone lending service that offers convenient personal loans with a credit limit of up to ₦100,000. A loan could also be a  type of loan that does not require collateral or a downpayment to obtain.  it’s usually short-term with very high-interest rates.

SuperLoan Personal loan Review

SuperLoan App personal loan

SuperLoan makes getting a personal loan simple by using the data on your phone including your information to verify your identity and create a credit score.

Please don’t take a SuperLoan to fund your lifestyle or service long-term debts. Short-term loans are helpful in emergencies but are often quite expensive in comparison to long-term loans and should be used with care.

Within its first 2 months, the 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 make the credit score of each borrower.

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

The application is simple, just download the app from the Google play store,  and provide some information about yourself, the algorithm will analyze your information, calculate your credit score and cause you to a loan offer Within some hours.

Download and get a loan from the SuperLoan app

Download the SuperLoan personal loan  App exclusively available Here below Download and install it on your Android phone.

Register an account along 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 getting a higher loan amount.

A one-time password OTP  are visiting be sent to your phone to confirm your details.

After the submission of your application, the software will analyze your credit score and thus the final result will be shown on the APP.

The result should be displayed in but two minutes and if you qualify for a loan, the loan amount are visiting 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.

Note that binding your ATM card with N30  doesn’t guarantee that you simply 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 cash to be refunded back to your checking 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 when due, expect your application to be rejected.

Your credit score could also be a  record of your previous borrowings, how early or late you create your payments, and cash transactions stepping into 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 figure out your banking transaction records, apps on your phone to figure out how you use other loan apps, and other details it uses to make your credit score.

SuperLoan Personal loan Review: Is the SuperLoan app legit or a scam?

Yes, the SuperLoan loan app could also be a  legit loan app that gives micro-loans to a maximum amount of N100,000 to customers but has really 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’re liable 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 doesn’t make transactions performed thereon secure. The play store merely provides an avenue for download,  you’re liable for your own security while using loan apps in Nigeria.

SuperLoan Pros

It’s legit, has been confirmed by the admin that they really do give loans.

Completely online with no collateral required.

High loan amount, up to 100k.

SuperLoan Cons

Has serious networking issues that prevent smooth registration.

Takes time to disburse loans after approval, and some customers take days even weeks before seeing an alert.

Short loan duration especially for brand fresh users, starts at just 7 days.

Very high-interest rates on small loan amounts.

High rejection rate.

The app only works on Android smartphones.

SuperLoan Interest rate?

SuperLoan offers:

1 Loan amount from ₦10,000 to ₦100,000.

2 Repayment from 91days to 365days.

3 Easy to urge a secure loan interest rate: as low as12% APR

SuperLoan Example

If the loan amount is NGN5,000, the loan term is 180days,  and thus the interest rate is 12%,  the whole interest should be NGN5,00012%= NGN600.  the whole repayment amount would be NGN5,000+ NGN5,00012%= NGN5,600.

This rate of interest and tenure is just an example, expect your loan amount and period to be significantly lower if you’re borrowing for the first time.  you’ll increase your amount by keeping good records and returning loans on time.

What are SuperLoan requirements?

Be a legal citizen or legal Resident of Nigeria

Be a minimum of  18 years old.

Have a Monthly income source.

Bind your ATM card to your account

Provide details of two of your next of kin including their phone numbers.

Have an honest 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 legitimate government-issued ID card.

SuperLoan app customer service number

• We are available 24/7  to assist   you with your request

• Service Email:

• Our Office Address: G.R.A, 21 1st Ugbor Road, Oka 300102, Benin City, NIGERIA

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

Late loan repayments automatically incur a fee of twenty-two per day.  it’s therefore advised that one doesn’t exceed the due date. Repaying the loan by its maturity allows you to access larger loan sizes. Late repayments will affect your ability to urge subsequent or larger loans.

If you’re very late on your payments,  you’ll be reported to the primary  Central Credit Bureau. Blacklisting by the first   Central Credit Bureau may affect your ability to borrow from other lenders.

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