One of the newest internet apps through which Nigerians can borrow money is called Irorun Loan. To provide you an understanding of how it functions, we have written this review.
You’ll probably get into a situation where you require quick access to money in the modern world.
However, obtaining a loan from a traditional lender can be difficult and time-consuming, particularly if you require the money quickly.
Fortunately, you may quickly borrow money from Irorun Loan without putting up any collateral and receive your money right in your wallet.
Download the app and sign up
The simplicity of getting started with an Irorun loan is one of its best qualities. You only need to download their mobile app from the app store or register for an account on their website.
You can apply for a loan by filling out the brief application form after creating your account, which just takes a few seconds.
Following the approval of your application, the loan amount will be deposited in your wallet, where you can quickly transfer the money to your bank account.
Irorun also offers flexible terms for repayment. You may select a duration of up to 180 days for repayment, depending on the size of your loan.
You may choose the loan period that works best for you thanks to this, and you’ll have plenty of time to pay it back without feeling rushed.
Every time you pay back a loan, you can also raise your borrowing limit, providing you additional access to money in the future.
Interest Rates on Irorun Loans
Microloans are offered by Irorun in sums between N5,000 and N50,000. You must be at least 21 years old to be eligible.
The loan term spans from 60 to 90 days, with interest rates of between 3% and 5% each month and an average annual percentage rate (APR) of 36%.
Let’s think about a common scenario. Let’s say you choose to borrow N10,000 for three months (90 days) at a monthly interest rate of 3%.
In such situation, you would pay N10,000 in principal plus N900 in interest over the course of the six-month period for a total repayment of N10,900.
There is no need for collateral or guarantors.
For its loans, Irorun often doesn’t require collateral or guarantors. However, further documents could be needed for loans that are larger than a particular sum.
However, all you have to do is download the Irorun app and submit an application from your smartphone.
Irorun takes into account a number of variables, including your credit score and previous loan performance, while determining the suitability of your loan request.
As a result, when completing the loan application form, precise information is crucial. Any fabrication could cause your loan application to be delayed and, in some situations, result in blacklisting.
Additionally, Irorun is dedicated to informing the appropriate authorities about fraud incidents.
Irorun Customer Care
Customer satisfaction is of utmost importance to Irorun. As a result, the platform invites suggestions and input to enhance its offerings.
Send an email to firstname.lastname@example.org to get in touch with their customer service department if you have any enquiries, comments, or suggestions.
Irorun offers a quick, dependable, and practical solution to get loans when you need them most.
The platform is a great choice for anyone searching for immediate access to funds because it offers flexible payback options, attractive interest rates, and no collateral requirements.
Irorun is therefore a viable option to think about if you’re in need of a loan and are in a bind.