How to Borrow Money from Easemoni in Nigeria: If you’re looking for a fast digital loan in Nigeria without collateral or paperwork, Easemoni offers personal loans from ₦3,000 to ₦1,000,000, with repayment terms between 30 days to 12 months. Interest rates typically start from 5% monthly, but users may experience higher real-world charges depending on credit history. Powered by a licensed microfinance bank, Easemoni is one of the most widely used loan apps in Nigeria.
In this guide, you’ll learn exactly how Easemoni works, the actual interest rates users face, eligibility requirements, the real application experience, and what to expect when it’s time to repay.
Table of Contents
What is Easemoni or Easemoni Loan?
Easemoni is a mobile-based lending platform developed by Blue Ridge Microfinance Bank, a financial institution licensed by the Central Bank of Nigeria (CBN). Unlike traditional loans, Easemoni does not ask for collateral, guarantors, or face-to-face interviews. All loan applications and approvals are handled digitally through their mobile app.
The platform is targeted at Nigerians who need quick access to cash, either for emergencies, bills, personal projects, or short-term business needs.
How Much Can I Borrow from Easemoni?
Loan amounts on Easemoni range from ₦3,000 to ₦1,000,000, depending on your creditworthiness. New users typically start with small limits but can gradually unlock larger loan amounts through responsible borrowing and timely repayments.
Repayment periods vary and can range from 30 days to 12 months, allowing users to choose terms that suit their income cycle.
Easemoni Loan Interest Rates: What I Really Pay
Officially, Easemoni claims its monthly interest rates start at 5%, with an Annual Percentage Rate (APR) of up to 120%. However, based on user experience, real-world charges tend to be higher, especially for first-time or low-score borrowers.
Example 1 (official estimate):
For a ₦3,000 loan with a 91-day tenure at 5% monthly interest, you repay ₦3,273 total (₦1,091/month).
Example 2 (real user experience):
Borrowing ₦10,000 for 30 days often results in ₦3,000 interest, bringing the total repayment to ₦13,000—a flat 30% monthly rate, not 5%.
Interest rates are determined by:
- Your credit history
- Repayment behavior
- Internal risk assessment algorithms
Unlike some shady lenders, Easemoni does not charge hidden fees, and loan terms are usually shown clearly before you confirm the loan.
Who Is Eligible for an Easemoni Loan?
To qualify for an Easemoni loan, you have to meet the following conditions:
- Be a Nigerian resident with verifiable identity.
- Age between 18 and 60 years of age.
- Own a smartphone with internet access.
- Have a functional Nigerian bank account.
- Possess a valid BVN (Bank Verification Number).
- Pass the in-app credit evaluation system.
No collateral or guarantor is required at any stage.
How to Apply for Easemoni loan (Step-by-Step)
To apply for Easemoni loan, follow these instructions:
- Download the Easemoni App: Visit the Google Play Store and search for “Easemoni.” (The app is currently not available on iOS.)
- Register and Create an Account: Sign up using your phone number and follow the verification process. You’ll need to provide basic information such as your full name, date of birth, and contact details.
- Complete KYC: Provide your BVN, link your bank account, and upload any required verification details such as a selfie or government-issued ID. This step is necessary for unlocking loan offers.
- Credit Assessment: The app runs a background evaluation based on your BVN data, phone behavior, and financial profile to determine your loan eligibility.
- Apply for a Loan: Once eligible, choose the loan amount and repayment duration you prefer. Carefully review the interest rate, repayment schedule, and total amount payable before submitting your request.
- Wait for Disbursement: If your application is approved, the funds will be credited to your linked bank account or Easemoni wallet—usually within a few minutes.
Easemoni Repayment Methods
Repaying an Easemoni loan is straightforward. Here are the available options:
- Automatic Debit: Easemoni can automatically debit your linked bank account on the due date.
- Manual Repayment via App: You can log into the app and make repayment via your preferred payment method.
- Bank Transfer (where supported): In some cases, you can use direct transfer to settle the balance.
Easemoni also sends multiple reminders as the due date approaches.
What Happens If I Don’t Repay on Time?
Failing to repay on time can have serious consequences:
- Late fees or penalties may apply.
- Easemoni may restrict access to future loans.
- Your credit report may be negatively affected.
- In extreme cases, users report receiving frequent calls or messages urging repayment.
To avoid problems, always borrow within your means and set reminders for repayment dates.
Is Easemoni Legit?
Yes, Easemoni is a legitimate and licensed financial service. It is owned by Blue Ridge Microfinance Bank, which operates under regulations from the Central Bank of Nigeria (CBN). This gives it a level of credibility and oversight that many unlicensed loan apps do not have.
Additionally, Easemoni states that user data is secured and handled according to regulatory standards, with insurance protection for financial operations.
How Can I Contact Easemoni Customer Support
If you need help or want to make an inquiry, Easemoni has multiple support channels:
- Customer Service Email: easemoni@blueridgemfb.com
- Phone Support: 02014111222
- WhatsApp Line: +234 817 965 8371
- Office Address: No. 77 Opebi Road, Ikeja, Lagos, Nigeria
Summary: What Makes Easemoni Worth Using?
Advantages:
- Quick, fully online loan process
- No collateral or paperwork required
- Transparent loan terms (interest and repayment)
- Backed by a CBN-licensed financial institution
- Multiple repayment options
Limitations:
- Interest rates can be high for first-time borrowers
- Not available on iOS (Android only)
- Loan limits are low initially and increase over time
Frequently Asked Questions
1. How much can I borrow from Easemoni?
You can borrow between ₦3,000 and ₦1,000,000, depending on your credit profile. New users often start with lower amounts, but responsible repayment can increase your limit over time.
2. What is the interest rate for Easemoni loans?
Easemoni advertises interest rates starting from 5% per month, but real users have reported charges of up to 30% monthly, especially for short-term or first-time loans.
3. Do I need collateral or a guarantor to get a loan?
No. Easemoni does not require collateral or guarantors. All you need is a smartphone, BVN, and a functional bank account to apply through the app.
4. What happens if I don’t repay my Easemoni loan on time?
Late repayment may lead to penalties, restriction from future loans, or even negative credit reporting. Easemoni also sends frequent reminders until repayment is made.
5. Is Easemoni a legitimate loan app?
Yes, Easemoni is owned by Blue Ridge Microfinance Bank, which is licensed by the Central Bank of Nigeria (CBN). It’s a regulated digital lending platform.
6. How can I contact Easemoni customer support?
You can reach Easemoni through multiple channels:
- Email: easemoni@blueridgemfb.com
- Phone: 02014111222
- WhatsApp: +234 817 965 8371
- Office Address: No. 77 Opebi Road, Ikeja, Lagos, Nigeria
Conclusion
Easemoni provides a fast and convenient way to access personal loans in Nigeria without dealing with the traditional hurdles of banks. While the advertised interest rates may be lower than what users experience, the platform remains a valid option for those needing urgent funds.
To make the most of Easemoni:
- Use it for short-term needs, not long-term debt.
- Repay loans before or on the due date.
- Borrow only what you can comfortably repay.
- Build a good repayment history to increase your loan limit.
Download the Easemoni app from the Play Store, follow the steps, and take control of your financial needs today—responsibly.
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