In this article we shall be taking a deep inner look at Swift Naira Loan app, it is very important to know exactly how this platform works; their interest rates, customer reviews and most importantly legitimacy status (legit or scam).
It is no news that the economic situation in Nigeria at the moment is an eyesore; businesses are dwindling and tilting to a bad end, workers both in the private and public sectors are barely keeping up with surviving on monthly income.
In the midst of the economic pressure, loan apps have come in handy for Nigerians struggling to make ends meet. From granting medium terms and micro loans to giving flexible repayment plans, loan apps have been a source of support to many Nigerians
Today we will be reviewing Swift Naira loan app, with special attention on the loan application process and authenticity of the app.
What is Swift Naira Loan App
Swift Naira loan app is an app offered by Finnew Fintech limited on Google play store. The app offers micro and medium term loans ranging from N2,000 to N600,000. With over 500,000 downloads and 19,000 reviews on the Google play store, Swift Naira loan app is one of the leading loan apps in the Nigerian Fintech market.
How Does Swift Naira Loan App Work
Swift Naira loan app works pretty much like other loan apps in Nigeria. The loan app grants loans based on eligibility and rewards prompt repayment with limit increment.
To be able to apply for loans on Swift Naira, you must first of all download the app from the Google play store and sign up on the app. Swift Naira loan application requires you providing your personal information on the platform.
After you have provided honest information about yourself, your loan limit will be evaluated. Swift Naira loan only allows you to apply for a loan below or your exact limit amount; this means that you are not allowed to borrow above your loan limit. This however, is not much of a problem as your loan limit increases with time (as you borrow loans and make prompt repayment on the app).
Is Swift Naira Loan App Legit.
Yes! Swift Naira loan app is absolutely legit and true to their claims. The loan app has garnered thousands of positive reviews on the Google play store since its release in 2022.
How to Download and Get Started on Swift Naira Loan App
As mentioned earlier, getting a loan from Swift Naira loan app all starts from installing the app from the Google play store.
How to Install Swift Naira Loan App
Here is a step by step guide on how to get Swift Naira loan app on Google play store;
1. Open your play store app
2. Search for ‘swift Naira loan app’
3. When the search result comes up, click ‘install’
4. Swift Naira loan app will automatically be installed on your phone after its download.
How to Sign Up on Swift Naira Loan App
After installing Swift Naira loan app on your phone, you would be required to sign up on the app before you can access its features.
Here is a detailed step by step guide on how to register or sign up on Swift Naira loan app;
1. Open Swift Naira loan app on your phone
2. Grant the app permission to use some of your phone’s features
2. Agree to the displayed terms and conditions by clicking the ‘agree’ button
3. Enter your mobile number that is functional and click ‘get otp’
4. An OTP will be sent to your phone, enter the OTP and proceed with your registration
5. Enter your personal details (email address, house address, educational level, etc.) Click ‘next step
6. Provide 4 people from your contact list who can stand in as your guarantors, click ‘next step’ after this
7. Take a live photo of yourself or your ID card then enter the requested information and click ‘next step’
8. Your registration is complete and you now have unlimited access to all the features of the app.
How to Borrow Loan on Switch Naira Loan App
After signing up on the app, you can now access loans on Swift Naira loan.
Here is a step by step guide on how to apply for loans on Swift Naira loan app;
1. Login to Swift naira loan app.
2. Complete the loan application form in the app.
3. Wait for a Swift Naira to carry out a loan evaluation based on the information you have provided. (Loan evaluation might take some time).
4. Once the loan is approved you will receive the loan to your bank account instantly.
How to Repay Swift Naira Loan
It is advisable to always repay your loans on or before the due date to avoid messing up your credit score and your feature chances of borrowing.
Loan repayment on Swift Naira is quite flexible and can be done through various means, once you are ready to repay your swift Naira loan, login in to the app, locate the ‘repayment’ button and proceed with the on screen prompt.
Pros of Swift Naira Loan App
The following are the advantages of Swift Naira loan app;
1. It is quite easy to use.
2. Swift money grants medium term loans that can be used to offset needs and also start businesses.
3. Swift money loans are instant.
4. Swift money does not require collateral.
5. Swift money does not grant loans based on employment status and income power.
Cons of Swift Naira Loan App
A disadvantage of Swift Naira loan app is that it charges an unnecessary processing fee which some other loan apps do not.
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Frequently Asked Questions and Answers
Is Swift Naira loan app legit?
Yes! Swift Naira loan app is legit and has been used and reviewed by numerous Nigerians
What are the eligibility criteria to borrow money on Swift Naira loan app?
These are the eligibility criteria for loan application on swift Naira loan app;
1. You must be between the ages of 18- 60.
2. Must be a Nigerian resident.
3. Must have a valid bank account.
4. Must have a government-issued ID.
How much can I borrow on the Swift Naira loan app?
You can borrow up to N600,000 on Switch Naira loan app
What is the interest rate on the Swift Naira loan app?
Interest rate on maximum APR is 22% per year.
Does Swift Naira loan app charge processing fee?
Yes, Swift Naira loan app charges a processing fee. The processing fee for Swift Naira loan app is between 0.1% to 0.35%.
What are the loan terms on Swift Naira loan app?
The loan repayment period on Swift money is usually between 91 to 365 days.
Does Swift Naira loan app have customer care?
Yes! You can reach Swift Naira on these media;
1. Call: 08184250495
2. Email: Swiftnairahelp@yahoo.com
3. Head Office Address: 125, Olusegun Osoba Way, Oke Ilewo, Abeokuta, Ogun State, Nigeria.
What happens if I fail to repay my Swift Naira loan?
Failure to repay your loan on Swift Naira loan app might mess up your chances of getting future loans on the app and other loan apps too.
Final Verdict
Swift Naira loan app is legit. Since its release last year, it has served over N20,000 Nigerians and is still counting. If you are in need of micro or medium loans, give Swift Naira loan app a trial.
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