Moniepoint – online loan Nigeria
Moniepoint provides personal and business loans to individuals and SMEs via its popular mobile banking platform with millions of active users.
Applying does not commit you to a loan agreement.
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.
✓ Pros
- CBN licensed commercial bank
- Loans up to ₦1,000,000 personal / higher for businesses
- Backed by major international investors
- Extensive POS agent network (business data)
- Fast 24-hour loan decisions
✗ Cons
- Personal loans primarily for existing Moniepoint users
- Business loans require Moniepoint account history
- App-only application process
Loan example
Representative example: A personal loan of ₦300,000 over 6 months at 2.5% monthly interest. Monthly repayment approximately ₦54,218. Total amount repayable: ₦325,308. Total interest: ₦25,308.
Loan requirements
- ✓ Active Moniepoint account
- ✓ Valid BVN
- ✓ Valid government-issued ID
- ✓ Nigerian phone number
- ✓ Smartphone with Moniepoint app
- ✓ For business loans: 3+ months transaction history on Moniepoint
Loan features
- Personal loans from ₦50,000 to ₦1,000,000
- Terms 1 to 12 months
- Interest from 2.5% per month
- Business loans for SMEs
- CBN licensed commercial bank
- App-based application and management
Frequently asked questions
24 hours after submitting your application.
The minimum amount at Moniepoint is ₦50,000.
How to log in and sign up to Moniepoint
Moniepoint is used through its official app and website (moniepoint.com). To sign up, download the official Moniepoint 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 Moniepoint 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 Moniepoint channels.
Moniepoint customer care and contact
For help with your account, repayments or complaints, contact Moniepoint through the support options inside the official app or on moniepoint.com. Moniepoint is operated by Moniepoint MFB Limited. 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 Moniepoint with other lenders before you decide.