FAQs

Frequently Asked Questions

Who can apply for a loan?

Applicants must be 18 years and above and a resident of Lagos State with a verifiable source of income.

How much can I borrow?

The minimum amount is 2,000 and the maximum is N20,000. As you fulfil your loans, you'd increase the amount you can borrow.

How do I apply?

By downloading the app and filling out the required details, your loan can be ready in minutes.

How long does a long decision take?

Loan decisions are made and communicated to you in minutes!

What can I use the loan for?

Any short term financial situation qualifies.

How much does the loan cost?

Interest and Repayments rate are dependent on loan amount and duration. Both are displayed together for easy reference.

Why was my application declined?

You may not meet all the qualifying criteria at the time of applying. Not an issue, you can always apply again.

How do I repay the loan?

Your account will be debited through either your Visa or MasterCard details provided. Otherwise you can always transfer loan payment to our bank account and this will be reflected. This will be provided upon request. Please state clearly your loan ID on each repayment via transfers.

Can I have multiple loans or vary the terms of an existing loan?

Loans are one at a time only and the terms of an existing loan like rollovers are not allowed.

Can I prepay loans before due dates?

Absolutely YES and this further improves your chances of higher loan sums.

What if I am unable to pay due to circumstances beyond my control?

Please call our help lines for this or simply email us help@mylendme.co. Please note that late repayments may affect your chances of applying again and defaults will impair your chances of getting loans from financial institutions.

Can I edit my records?

Yes please go to the personal information page and use the edit button.

How do I check my BVN details?

Dial *565 *0# from the number linked to your bank account. A service charge may apply.

I'm worried about my personal information safety. Can I trust LendMe?

We use best in class data and security encryption techniques to store your details. Your personal data is never monetised.

Why do you need my BVN?

We want to be sure that you are who you say you are and avoid someone else using your details to secure a loan. Your BVN details will be verified but note that this information doesn’t give unauthorized access to your bank account.

What are app permissions for?

These allows us access to your phone details from where we can build your credit profile

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