| Interest Rate | 20% |
| Duration | 14 to 365 days |
| Access Level | Public |
| Company Name | Fair money microfinance bank |
| Phone 1 | 000 |
| Phone 2 | |
| Website or Store | |
| Address | |
| Category | Mild Loan |
| Company Email | |
| Views | 137 |
Fair money microfinance bank
FAQ
Can I Pay Loan Apps Gradually Until I Finish Paying Them?
Don't pay gradually if they keep adding overdue Interest. The best solution is pay at once. Gradual payment is possible, but your goal should be total freedom. Even if it takes 1–4 years, full payment in one go will give you lasting relief.
Can I still pay them if they defame me?
Fairmoney cannot defame you
Can loan apps post my pictures on social media?
They don't post pictures on social media
Can they auto-debit my account?
Yes, they can auto-debit your account. Because they are CBN licensed to prevent this, simply move your money to another account
Can they come to my house or office to arrest me?
They cannot come to your house or office. Even if they come, you should know your rights as a borrower
Can this loan app defame me?
No they cannot defame you
Can this Loan App Hack my Account
Don't worry, they can't hack into your bank. The real risk is if you gave them your banking password. For peace of mind, use an account you never registered with them.
Can you categorize this Loan Apps as a good loan apps?
Their interest is high. We can categorize Fairmoney as a moderate loan app
Do I need to Generate Disclaimer for this Loan App
You don't need a disclaimer, They cannot defame you.
Do you suggest I fight back against this loan app if they send abusive messages?
You need to fight back legally. Always fight back using the CBN policy
Do you think I should stop borrowing from this loan app
You should definitely walk away. Think of any loan over 7% monthly interest as quicksand for your money. You'll just sink deeper into debt. It's too dangerous and a single stumble can be catastrophic.
Explain How Credit Bureau Works
They cannot report you to the Credit Bureau because they operate illegally
From the menu, click "Resources => Check Credit Score for more Information about Credit Bureau and how it works
How a malicious loan app can compromise your details
Think of them as spies you willingly install. If you download an app outside the official app store, it can run in the background, reading your SMS and stealing two-factor authentication codes.
How do I get rid of their daily messages and calls?
To get rid of the daily spam, try Truecaller Premium on Android. It automatically identifies and blocks unwanted calls. The family plan offers wider protection. iPhone users can easily find an equivalent app to do the same job.
I received several emails from loan apps claiming to be from the court and other agencies. What should I do?
Reply to them from the Standpoint of CBN policy
They sent a message to me that they will block my BVN. Is it possible?
This is a pure lie! Your BVN is issued and managed by the government, not loan apps. They are criminals making empty threats. Be sure to archive everything they send on our website.
What will happen if I pay only the loan amount and interest, without paying the overdue charges?
Don't do it! That money only covers penalties, not the principal. Your loan remains unpaid. The best move? Hold your payments. It's an unsecured loan; wait and settle on your terms later.
When will they stop adding overdue interest?
The policy is clear: after 90 days, they must stop high interest and can only add 1% per month. Most apps break this rule. Never pay if you've already missed the deadline, as it can restart the 90-day cycle and your interest will grow.
Will this loan apps report me to the Credit Bureau?
Yes they will report you to the credit Bureau
About Fair money microfinance bank
Fairmoney is a digital bank that provides instant loans with no collateral required. Our mission is to provide financial access and inclusion to everyone, regardless of their credit score or financial history. Our vision is to create a world where everyone has equal access to financial services, enabling them to reach their full potential and achieve their financial goals.
At Fairmoney, we are committed to providing excellent customer service, being a cooperative partner, and ensuring ease of use and security for our customers. Our core values include transparency, integrity, and a focus on customer satisfaction.
With Fairmoney, you can get loans up to ₦1 million with repayment periods ranging from 61 days to 18 months. Our interest rates range from 2.5% to 30% (APRs from 30% to 260%), and our application process is quick and simple, taking just 5 minutes to complete.
We use innovative technology to provide quick and easy access to loans. Our instant loan app is safe and reliable, and our verification process is quick, taking just 2 hours. Our loans are available 24/7, and you can apply any day, night, weekend, or holiday.
In addition to instant loans, Fairmoney also provides a bank account with free transfers and a debit card for spending, giving you even more control over your finances. Our bank account has no fees, making it an affordable option for everyone.
At Fairmoney, we believe that everyone deserves access to financial services, and we are committed to making this a reality for all of our customers. Our goal is to provide our customers with the tools and resources they need to achieve their financial goals and live their best life.
So if you're ready to take your finances to the next level, download Fairmoney today and get started on your journey to financial success!
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