Paymyrent Review – How To Use, Get A Loan, Invest in Nigeria, And More.
It is really smart to gather money here and there with the aim of using it to solve your problems, particularly rent.
If you have three save-up problems. One of them is probably to save up for rent, another to possibly purchase an item, and the last is to invest in getting more returns.
You might even consider getting a saving box for that or digging a hole around your house just to save money ( like it was being done in the olden times).
That would help curb that problem but then how effective is it?
How about the exorbitant charges by banks while trying to do that through your bank account?
Indeed, payment of rent is one of the pressing needs of an average Nigerian which in some cases results into being thrown out by landlords.
Rent is the reward for land and as such land is not readily available to everybody especially when you are not an indigene of that environment and rent is hard to raise sometimes, especially when you make unwise spending or involved in an inescapable event.
The lesser your taste the lesser your rent pay and the higher your taste the higher your rent payments. This is one issue for urban dwellers and settlers coming to start living in the city.
Even if it’s not in the city but in the village. As long as you don’t own the land or any landed properties you are required to pay rent and that is why PAYMYRENT is important.
What is Paymyrent?
Paymyrent is a house rent loan program that was founded by Damilare Ogunyemi. It is a savings platform that allows you to save and invest for your rent by any amount monthly, weekly, and even daily.
How Does It Work?
Paymyrent is a method devised to help tenants save their rent with little or no worries about losing money or how to get money for rent because that has been taken care of.
This increases saving drastically as it would always meet your needs. Complicated? Then let me further break it down.
Paymyrent simply acts like you saving money for rent. It’s like an organised collecting of stipends from your pockets to save up your house rent.
They say after all little drops of water make a mighty ocean and paymyrent act like a bucket that helps you collect these drops of water.
This would allow you to sleep calmly and soundly without thinking of how to raise rent at dying minutes or how to borrow unexpectedly and avoid being thrown out of your residence.
Who Can Use Paymyrent?
Almost everybody can use the paymyrent strategies without any misconception. Anybody, even your little kids.
All you have to do is to make provisions that will be a stipend to accumulate your rent and you are free from worry.
You can also use paymyrent for your shop rent or when renting any landed properties, even an office rent if you are a sole proprietor.
That’s just the tip of the iceberg of what paymyrent does for you and again it’s one very easy process and extremely helpful once you know the right buttons to push.
How safe is Paymyrent?
Before we proceed on how to use Paymyrent, this method is a very safe and reliable one as Paymyrent is an outgrowth of Confidence Micro-Finance Bank overseen by the Central Bank of Nigeria and every depositor fund is protected by NDIC.
The Nigeria Deposit insurance operation (NDIC) insures bank deposits of individuals and legal entities, whether they are from Nigeria or any other country but live in Nigeria.
How To Create An Account With Paymyrent?
It’s not a complicated process. Simply go to the Google play store on an android phone or the IOS app store on an iPhone and download the paymyrent app.
You can also use a search engine to create an account or log into an already existing account.
If you do not have a paymyrent account, create an account by following these steps.
- Input your first name, last and missile names.
- Input your email address and phone number for contacts.
- Referral code; this is gotten from the person who referred you to paymyrent. ( this is very optional)
- Enter your password to secure your account.
- Now that you have created a paymyrent account you need to activate it.
How To Activate A Paymyrent Account.
- Log into your paymyrent account using your details.
- Make a beginning saving to activate your account on paymyrent .
- Set your withdrawal account.
- choose savings plans which can either be (fixed or periodic).
What Is A Saving Plan?
This is a method which you use in saving your money. There are two types of saving plans on Paymyrent. They are Periodic saving plans and Fixed saving plans.
Periodic Saving Plans:
This plan allows you to save money up to any amount in a month for more than four months and have an investment return of 7% per deposit.
Fixed Savings Plan:
This is a fixed plan that helps you to save till you reach a particular target. This is done by deducting a fixed amount from you on a daily, monthly, or weekly basis. The interest rate is 20%.
Read Also:Â Best Loan Apps in Nigeria
How Much Can One Save In A Month, Day Or Week?
That is solely dependent on you. You can save as much as you want or can. However, you can only save a minimum of 200 naira daily, 1500 naira weekly, and 5000 naira monthly.
Can I Borrow From Paymyrent, What Are The Requirements?
Yes, you can borrow from Paymyrent however, you need to meet some requirements to be eligible for a loan on Paymyrent.
- You should have a steady flow of income.
- You should earn at least N70, 000 monthly.
- You should be residing in Lagos.
- And have a good working history.
How to get a loan on paymyrent
It is also very easy to get a loan on paymyrent all you have to do is to look for land or lease holding that is in partnership with paymyrent. And, as such, we mean landed properties that that have reached an agreement with paymyrent in Lagos.
To achieve this, you should visit the paymyrent website to pick a choice.
- Visit to inspect the property with a land agent after making your choice.
- Proceed by filling out a loan application, and submitting the requested documents on the website. When it is confirmed and approved you go ahead to lay 50% of the rental cost.
- Paymyrent would pay 100% of the total rental cost to the owner of the building.
- After this, monthly payment would be paid to paymyrent until you pay everything.
It is like buying an item in an office and you get to pay monthly for it with your salary. No stress, no inconvenience just paying fully for what you already own.
Read Also:Â Loan Apps Without BVN in Nigeria
This also works when renewing a lease. A lease is a consent a person or company gets to loan a property or land to another party in return for an amount and for a certain period.
This usually comes with terms and agreements between the lessor and the lessee. So when renewing a lease fill in the documents at the website for it to get approved.
Then you pay a processing fee of seven thousand five hundred naira ONLY and the loan gets credited to your account.
Monthly payments, of course, will be paid to paymyrent until you pay the total amount in full. That’s very easy, isn’t it?
Are there any interests I can get on paymyrent?
Yes, they are. I earlier mentioned that in a fixed savings plan you get an interest of 20% while a periodic plan gives you 7% on each deposit.
When Can I Borrow On Paymyrent?
Before you can borrow on paymyrent you need to be earning at least 70,000 per month and must have been with your company for a minimum of six months.
You are also expected to have a guarantor who earns higher than you and both of you must reside in Lagos.
Is Paymyrent Available In Other States?
No, company available in Lagos State for now.
How Can I Contact Paymyrent?
Paymyrent head office is located at 37, Akin Osiyemi Street, Allen Avenue, Ikeja, Lagos State, Nigeria.
You can also email them @support@paymyrent.ng
Conclusion
Don’t wait to be caught up by responsibilities like rent payment when Paymyrent has bridged the gap. Secure the future today, by joining Paymyrent. Create an account and enjoy optimal bliss!
