Menofund - Instant Loan

Menofund positions itself as a prominent web and mobile application offering non-collateralized microloans to Nigerians. The platform facilitates a streamlined loan acquisition process, allowing new customers to register and potentially receive funds within five minutes, contingent upon the completion of a one-time user verification.

Security and reliability are underlined by partnerships with licensed financial entities, including a payment gateway and a commercial bank. Menofund operates under Meno Finance Ltd, a licensed money lending institution in Nigeria that collaborates with both local and international investors to provide fintech solutions throughout Nigeria and West Africa.

• Interest rate for 61 days: 30%
• Minimum repayment period: 61 days
• Maximum repayment period: 90 days
• Maximum Annual Percentage Rate (APR): 50%

For instance, if a borrower takes out a loan of N100,000, the interest accrued after 61 days would amount to 30%, resulting in a total repayment of N130,000.

Users are directed to review the privacy policy for additional information.

The process to obtain a loan is outlined as follows:

1. Download the Menofund app.
2. Register using the phone number and email linked to your income bank account.
3. Check your inbox or spam folder for the Menofund verification email.
4. Follow the one-time user verification instructions provided in the email.
5. Log in to the app to borrow funds based on your credit limit.
6. Repay the loan within the specified period.
7. Avoid multiple registrations to prevent blacklisting.
8. Please note that new users will see their credit limit set to zero until their verification is approved, which may take up to 48 hours following completion of the verification process.

For further information, please visit www.menofund.ng/#/faq.