FairMoney – online loan Nigeria
Mobile app loans up to ₦1,500,000 disbursed in 2 minutes with interest from 10% monthly.
Applying does not commit you to a loan agreement.
Screenshot of https://fairmoney.ng
FairMoney – Instant Digital Loans Nigeria
FairMoney is a digital bank and lending platform that offers instant personal loans, savings accounts, and banking services to millions of Nigerians. Originally launched as a digital lender in 2017, FairMoney obtained a microfinance bank licence from the Central Bank of Nigeria (CBN) in 2021, expanding its product range to include savings accounts and bill payment services. The company is backed by prominent international investors including Tiger Global and Flourish Ventures, and has grown to become one of Nigeria's most widely used mobile lending apps, with several million users.
FairMoney offers personal loans from ₦1,500 to ₦3,000,000 with repayment terms of 2 to 18 months. Monthly interest rates start from 10% and vary based on the applicant's credit profile and loan history with FairMoney. Applications are made entirely through the FairMoney mobile app. After downloading the app, you create an account, verify your BVN, and request a loan amount within your pre-approved limit. Funds are disbursed within 5 minutes for eligible applicants.
FairMoney is licensed by the CBN and is a member of the NDIC. As a fully licensed microfinance bank, FairMoney offers the security of regulated banking alongside its lending services. The app includes a savings account feature where you can earn interest on deposits. FairMoney reports to Nigerian credit bureaus, so responsible borrowing contributes to a positive credit history. FairMoney is suitable for Nigerians who want a comprehensive digital banking app with convenient access to personal credit.
✓ Pros
- CBN licensed microfinance bank
- Funds in 5 minutes for eligible users
- Loans up to ₦3,000,000
- Also offers savings accounts
- Millions of active users
✗ Cons
- Starting interest rate from 10% per month
- New users start with very low limits
- Rates vary significantly by credit profile
Loan example
Representative example: A personal loan of ₦100,000 over 3 months at 10% monthly interest. Monthly repayment approximately ₦40,211. Total amount repayable: ₦120,634. Total interest: ₦20,634.
Loan requirements
- ✓ Valid BVN
- ✓ Active Nigerian bank account
- ✓ Valid government-issued ID
- ✓ Smartphone with FairMoney app
- ✓ Nigerian phone number
- ✓ Minimum age 18 years
Loan features
- Personal loans from ₦1,500 to ₦3,000,000
- Terms 2 to 18 months
- Interest from 10% per month
- Savings account included
- 5-minute disbursement
- CBN licensed MFB
Frequently asked questions
2 minutes after submitting your application.
The minimum amount at FairMoney is ₦1,500.
How to log in and sign up to FairMoney
FairMoney is used through its official app and website (fairmoney.ng). To sign up, download the official FairMoney app or open its website, then register with the details requested — usually your phone number and BVN — and complete the short verification. To log in, open FairMoney and sign in with the phone number or email you registered with. Never share your login code, OTP or PIN with anyone, and only use the official FairMoney channels.
FairMoney customer care and contact
For help with your account, repayments or complaints, contact FairMoney through the support options inside the official app or on fairmoney.ng. FairMoney is operated by FairMoney. Be cautious of anyone asking for an upfront "processing", "clearance" or "insurance" fee before disbursement — legitimate lenders deduct any fees from the loan, never before it. You can also compare FairMoney with other lenders before you decide.