Twaleloan App: Legit Or Scam? [The Truth]

Loan apps are  fast becoming the go-to institution for many Nigerians in the midst of the economic depression in the country. Many Nigerians are now falling back on loans from loan apps to make ends meet. 

There are several loan apps and institutions that provide financial assistance to Nigerians and one of such is “Twaleloan apps”. In this article, we will place focus on the Twaleloan app and its features as well as it’s pros and cons, frequently asked questions and answers and of course, how to register and apply for loan on the app. 

What Is Twaleloan App? 

Twaleloan is an app that helps you get a mobile loan without having to provide a collateral. The app allows users to borrow as many times as they want within their credit limit.

Twaleloan gives loans as low as N3000 and as high as N100000, depending on how good your credit score is. 

On twaleloan, all you need to access a loan are just BVN, bank account and of course, the phone number that is linked to your BVN. 

How Does TwaleLoan App work?

Twaleloan just like most other loan apps in Nigeria function strictly online, this means that loan application, loan assessment, approval and disbursements are carried out only online via the app. 

Twaleloan provides micro and medium term loans for customers. On the app, you can apply for loans as small as N3,000 to meet basic needs or you can get a medium term loan at about N100000. 

To be able to register on Twaleloan, you need to be between the ages of 20-60 years, have your BVN and your NIN. These are the most important requirements for registering on twale and without either one of the two, you cannot successfully register on the platform. 

Is Twaleloan App Legit? 

Yes, twaleloan app is legit. Twaleloan app does give loans to successful applicants who pass their assessments. Despite the above fact, some users have called out the loan app for being sketchy and reportedly deducting money from their accounts without proper course. 

In the words of  one of their users; 

“Stay away from this fraudulent app that charges 50 naira for card binding without approving your own. 8 of us tested them and that was how it happened to all of us. They rarely approve any loan but go ahead deducting people’s 50 naira making it look as if your loan has been approved whereas they will later reject your loan. Download this app at your own peril.”

Although these accusations are unconfirmed, it is advisable that you do further research before applying for a loan with twalelaon.

How to Download and Get Started on Twaleloan

To get started on your registration with twalelaon, you need to first get the app on your phone. 

Twaleloan app is available on Google play store so to download the app, you would first need to locate your play store, open it and search for ”twaleloan app and  click the “install” button.

How to Register on Twaleloan App

To register on twaleloan, follow these easy steps; 

1. Open the twaleloan app 

2. Click the “get loan” button

3. Enter the phone number linked with your BVN and click the “message logo” an otp will be sent to you, enter the OTP in the requested place. 

4. Grant the app permissions 

5. Enter how much loan you and the requested information and click “verify” 

6. On the next page enter your bank account details and click “next”

7. On the next page, enter your employment status and your monthly income then proceed to click “next” 

8. Enter your personal details and provide your guarantors then click “submit”

9. Take a photo of yourself and submit, note that your selfie has to be in a well lit environment so your face can be visible. 

Your loan limit will be calculated almost immediately after registration and twaleloan will inform you when it is ready. 

How to Borrow Loan on Twaleloan App 

After you have successfully registered on twaleloan app and your loan limit has been calculated, you can easily apply for a loan by clicking “get funds” just below your loan limit on the twaleloan app. 

How to Repay Loan on Twaleloan App 

Repaying your loan on or before the due date is very essential in maintaining a good credit score and increasing your chances of getting future loans. Here is how to repay your loan on twaleloan app; 

You can repay your twaleloan through direct card deduction. This happens when you program the app to deduct your loan equivalent or a fraction of it from the bank card that you entered during registration.

You can equally repay your twaleloan through the prepaid method. To repay using the prepaid method; 

1. Click on repayment on the home page

2. Choose the contract you want to repay

3. Enter your pin 

Pros of Twaleloan App

1. Perhaps my most favourite thing about twaleloan app is that it’s very first with loan limit calculation and within a minute after registration, you can get to see your loan limit. 

2. Fast and easy application process.

Cons of Twaleloan App

One of the cons of twaleloan app is their inability to manage and organise orderly transactions of customers, this has caused a dissatisfaction among their customers and users who claim they are being scammed by twaleloan app for unchecked and undue deductions from their accounts. 

Frequently Asked Q & A 

What is the loan interest rate on twaleloan? 

Twaleloan’s interest rates range from 16% to 35% APR (Annual Percentage Rate).

Who is eligible to borrow loans on twaleloan App? 

Nigerian residents between the ages of 20 and 60, with a valid BVN are eligible to apply for loans on Twaleloan. 

What are the loan repayment plans on twaleloan app?

The loan repayment plans for twaleloan differ but it usually lasts 91 to  365 days.

What will happen if I don’t repay my loan on twaleloan? 

Of course you don’t need to be told the importance of a good credit score. Failure to repay your twaleloan when due will have you mess up your credit score, this will prevent you from borrowing money in the future within and outside the app. Apart from a bad credit score, twaleloan might also report you to National Credit Bureau for failing to repay your loan. 

Does twaleloan have customer care? 

Yes! Twaleloan has customer care services both on and Offline.

You can email them at or visit their physical branch @ 25 Wemco Road, CITC House, Ogba, Lagos, Nigeria to lodge your complaint. 

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Final Verdict

Twaleloan app is a legit loan app that delivers micro loans to customers to meet their daily  needs. While the loan app is an actual one, apply caution in your dealings with them as the allegations of undue deductions from users account is yet to be cleared. 

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About Stefan C.

Focused On bringing you the best educational and finance related topics that will impact your life and the lives of millions.
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