Moniepoint – online loan Nigeria

Moniepoint – Business and Personal Loans Nigeria

Moniepoint (formerly TeamApt) is one of Nigeria's fastest-growing fintech companies and licensed commercial banks, serving millions of individuals and businesses across the country. Originally known for its point-of-sale (POS) terminal network and business banking services, Moniepoint obtained a commercial banking licence from the Central Bank of Nigeria (CBN) in 2023, expanding its product range to include personal banking, loans, and savings for individuals. The company is backed by major international investors and has been recognised as one of Africa's fastest-growing tech companies.

Moniepoint offers personal loans from ₦50,000 to ₦1,000,000 and business loans for SMEs on its platform. Monthly interest rates start from 2.5% for eligible customers. The application is made through the Moniepoint app — download, register, link your BVN, and check your pre-approved limit. For business loans, you need to be an active Moniepoint business account holder with a proven transaction history on the platform. Personal loan decisions are typically made within 24 hours and funds are disbursed directly to the account. Repayment terms range from 1 to 12 months.

Moniepoint is licensed by the CBN and is a member of the Nigerian Deposit Insurance Corporation (NDIC). As one of the fastest-growing banks in Nigeria, Moniepoint's reach through its extensive POS agent network gives it unparalleled data on business and personal cash flows, enabling better credit decisions. Moniepoint is particularly well suited for traders and business owners who process transactions through Moniepoint POS, as their transaction history directly supports their loan application. Personal loan applicants also benefit from competitive rates on the platform.