Fint Loan is a distinctive financial product. The platform links lenders and borrowers. Investors register as lenders on the loan website, which connects them with borrowers in need of loans. These loans have an agreed-upon interest rate that changes with the loan’s term.
Fint loan services are available to both borrowers in need of money and investors looking to increase their capital by making loans to others.
While businesses can borrow up to N20 million, individuals can only borrow up to N20,000,000. You can obtain a loan by convincing your business to sign up for a payday loan or by going through businesses that are partners with Fint Loans. First Registrars, Thrive Agric, Old Mutual, Farm Forte, Vetiva, and Paystack are a few of these partners.
Apply For: CBN Non-Interest Loan 2023
Fint does not currently have a mobile app, hence their website serves as the primary operating platform.
You may determine your loan amount and repayment schedule with the Fint loan calculator. The amount you may repay each month is calculated once you select the sector that corresponds to you, the amount of credit you are taking, and the period.
Qualification Requirements For Fint Loan
Some of the requirements for Fint loans include
- You must be 21 and above
- Valid Nigerian bank account
- Bank Verification Number
- Account Statement
- Photocopy of a valid Nigerian identity card
How To Apply For Fint Loan
To apply for a loan on Fint, follow these steps
- Go to Fint’s website and click on the “Borrow” tab.
- Some details will have to be available to create an account. These details include your name, date of birth, email address, employment status and organization to create an account.
- After inputting the information, you will see an estimate of the loan amount you can borrow.
- Accept terms and conditions as well as the interest rate on the loan.
- You are to pay some money for your profile verification and credit history check.
- Once it is successful, upload the necessary documents requested.
- When you are verified, your loan request will appear on the platform.
- Once an investor funds the application, the money will get to your account.
It is significant to remember that the lender involved, not Fint, determines how quickly loans are disbursed. However, utilize this loan comparison platform to quickly analyze several offers and choose the finest one for you in order to make sure you’re obtaining the greatest loan for your particular need. When taking out a loan, you can never be too cautious.
Repaying a Fint Loan
Your account information is stored in the system, so when the term expires, the loan will be automatically deducted from your account. You will receive reminders prior to the scheduled date so you can repay the loan early. If you fail to repay the loan, the platform may report you to a debt collection agency, which will attempt to recover the loan. The platform will then send your payment to the lender from whom you borrowed money.
You will require insurance before taking out a loan on Fint to cover unforeseen situations that might prevent you from being able to repay the loan. Additionally, you will pay a commitment fee of 8% following loan repayment.
Interest rates vary depending on the industry and the lender, but they typically range between 39% and 39% annually.
By allowing consumers to invest in the money lending industry and by linking them with others who need to borrow money, Fint aids in the process of creating wealth. The platform is clear and uncomplicated, which makes the procedure quite helpful. We have a ton of additional postings that describe how to use services like Renmoney and others to receive quick loans in Nigeria.
Apply For: CBN Non-Interest Loan 2023