The firstnell loan app is one of the recently launched platforms offering loans to private individuals and businesses. This loan platform is well known by Nigerians for being fast in loan disbursement, approval of loans, and ease of application.
The low-interest rate is another essential benefit of this loan platform. In this article, we will discuss extensively how to apply for a firstnell loan and the eligibility requirements for application of a firstnell loan, and we will conclude this article by answering some of the most frequently asked questions you may have. Stay tuned.
Overview Of Firstnell Loan App
Firstnell loan platform is one of the newly launched loan platforms in the country. This loan platform was established as an answer to ever-increasing loan demands by business owners.
Over the last few decades, there has been an increase in the need for loans by business owners, especially start-up businesses.
What makes the firstnell loan platform unique and most desirable to business owners is that you do not need collateral to apply for the loan. The fear of most businesses and startups is the need for collateral. Most of the business owners do not have collateral and, as such, are afraid to obtain loans from banks.
However, the firstnell loan platform has breached this gap. With the firstnell loan platform, you do not need collateral to apply for the loan. The loan application process is very easy, all you need to do is to make sure you meet all the eligibility requirements, and you’re good to go.
Furthermore, the firstnell loan platform’s interest rate is low, which is why most people opt for this loan. On average, over 90% of people who obtain loan from the platform usually repays before the end of the period of the agreement. All of these show how unique the loan platform is.
How Firstnell Loan App Works
Every loan platform in the country has a unique mode of operation, and the firstnell loan platform is no exception. You need to understand how each loan platform works before you apply for a loan on that platform. Here’s how the Firstnell loan Platform works;
- The first thing you should remember is that the firstnell loan platform works on the principle of first come, first served. This means that if two people apply for the same amount of loan, choosing the same loan condition, the one that will be approved is the most eligible for the loan. And the eligibility is determined by the individual’s creditworthiness. We will discuss what creditworthiness score is later.
- Secondly, you will be required to provide all the necessary details completely. When providing these details, you must make sure they’re correct. Any incorrect details you provide will lead to the termination of your loan application process.
- You will have to meet all the eligibility requirements we will be listing in this article. The eligibility requirements are sets of things you need to complete before you are considered eligible to apply for this loan. Read this article to the end to find out the eligibility requirements.
This is how this loan platform works; understanding how this platform works before applying for a loan will make your loan application process easy and stress-free.
Eligibility Requirements For Firstnell Loan
- The minimum age requirement for the application of this loan is 18 years; this means that if you’re below the age of 18, you’re not eligible to apply for this loan.
- The maximum age requirement for the application of a firstnell loan is 60 years, so you must be between 18 and 60 to be considered eligible for the loan you wish to apply for.
- You must be a citizen of Nigeria, and foreign individuals are not eligible to apply for this loan.
- When providing your details, you must make sure that all the details you provided are correct. Providing any incorrect details can terminate your loan application process.
- Another important thing you must note is that you must have a high credit score. The benefit of having a high credit score is that it makes your loan be approved faster. The bank verification number you provided is used to check your creditworthiness score. They do this by checking how many loan platforms you’re owing, so if you owe any loan platform make sure you pay up. The more loan platforms you owe, the lower your creditworthiness score and the lower the chances of your loan application being approved. Having a high credit score goes a long way to determining if you’re eligible for the loan or not.
Benefits Of Firstnell Loan
There are numerous benefits of a firstnell loan. In this article, we will list a few of them, and they are;
- Low-interest rate: One of the critical benefits of the firstnell loan platform is the fact that the interest rate of this loan platform is low, which makes it easy for individuals to repay the loan they borrowed from the platform before the agreed period.
- No collateral: This is one of the main reasons why most business tart-ups go for this loan. You do not need collateral to obtain a loan from this platform, all you need to do is to make sure you meet all the eligibility criteria and provide the necessary documents, and you’re good to go.
- Fast Approval and loan disbursement system: The loan disbursement process of this firstnell loan is high-speed. When you apply for a loan on this platform and get approved, your loan will be disbursed to your standard bank account in a few minutes. This is why this loan platform is one of the best in Nigeria.
How To Apply For Firstnell Loan
The application process for the firstnell loan is similar to other loan platforms. To apply for a loan on this platform, follow the steps below
- The first thing you need to do is to download the tiger credit loan from the Google play store. Make sure you have a strong internet connection. Go to your Google play store, search for Firstnell credit loan, and download and install.
- After installing the app, open and register or sign up on the platform. Ensure you provide all the required information, and as needed, any wrong information will lead to the termination of your loan application process.
- Remember to put in your BVN, click on apply for a loan, and follow through the process. The tiger credit platform will access and verify everything you have inputted. And when successful, your loan will be disbursed to your standard account in a few minutes.
How To Contact Firstnell Loan Platform
The easiest and fastest way to contact the firstnell loan platform is through their official email address, which is; [email protected].
Frequently Asked Questions
Is the firstnell platform legit?
Firstnell platform is a very legit platform when it comes to giving loans to people. You can easily verify this by searching for the firstnell loan on the Google play store. You will find out that the platform has over 100,000 downloads with thousands of positive reviews and over 4.0-star ratings. This shows how legit the platform is.
How Much Can I Borrow from Firstnell Loan App?
The maximum amount of money you can obtain from the platform is N50,000, and the maximum amount of loan you can receive is N300,000.
What Is The Interest Rate Of the firstnell Platform?
The interest rate of a firstnell platform is between 10% to 30%, but this depends on the loan you borrowed from the platform.
Conclusion
With this loan platform, fast loans with a relatively low-interest rate. We believe you know the eligibility criteria and how to apply for this loan. Feel free to share your thoughts with us and also ask your questions in the comments section.
