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Many people who are familiar with online loan app may have come across this particular loan app called imoney loan app. The Imoney Loan app is one of the loan app you can find in the playstore. Though the app have many 5 star rating and also 1 star rating in the google playstore. You all know now that many people don’t believe in this Google playstore rating again due to some of this loan app will force users to give them 5 star rating in the play store before they can be able to access a loan or before they can be able to get a loan increase. Most of this online loan app don’t even keep to their promise of giving you an online loan only to get five star from play store and some are scam. In this post, we will be writing a review on Imoney Loan app whether it’s real or fake.
As we said earlier in our previous post about other loan apps, We don’t give review of any online Loan app which we have not used. We have made a list of the best online loan app in Nigeria that you can trust when it comes to getting an online loan, but unfortunately, Imoney did not make the list. Some may ask why, but not to worry as we are going to give you every details which you need about this Loan App.
Is Imoney Loan App Legit?
Imoney Loan app is a legit loan app when it comes in times of giving an instant online Loan. The Iomoney Loan App is a loan app that can be trusted. As i always say, Some of these new loan apps always have a problem, In Imoney Loan, The major problem they have is High Interest rate and Loan repayment period. Imoney will give you a loan of 8000 and expect you to payback 12,000 in 7 days which is very bad. That’s the reason why this particular loan app did not make the list of the best online loan in Nigeria. If they can work on the high interest rate and repayment period, they will be one of the best online loan app in Nigeria.
What Is Imoney Loan App Interest Rate?
According to Iomoney, Interest rates are determined by a number of factors, including your repayment history with IMoney and the cost of lending from them. So from our own experiment, Iomoney Interest Rate Ranges from 30% to 40%.