Why You Should Use Only CBN-Approved Loan Apps

I believe at this point we all know what the CBN stands for right? So we don’t assume wrongly, CBN stands for Central Bank of Nigeria. The CBN regulates and controls all our financial institutions ensuring they practice fairness, transparency, and overall economic stability.

Why You Should Use Only CBN-Approved Loan Apps

Now that we know what CBN is and what it does, we are going to delve into why it is very important for you to use CBN-approved loan Apps.

Using loan apps can be a difficult task, especially with the Fintech space littered with an avalanche of fake apps and fraudsters that are ready to cash in on customer’s ignorance. Below are some of the benefits of using CBN-Approved loan apps.

  • Safety

This is easily the number one benefit of using CBN-approved loan apps. Safety is very important when dealing with money, especially with the surge in cyber threats and crimes. These CBN-approved apps provide security for your personal and financial information. They do this by following strictly cyber security standards.

  • Terms and Conditions

Another benefit of using CBN-approved apps is the transparency exhibited in their terms and conditions. They have no hidden fees and their terms are clear. All the necessary details from interest rates to repayment timelines are clearly stated.

  • Interest Rates

CBN-approved apps ensure they adhere to the CBN standards and that is also reflected in their interest rates. They follow the regulatory interest rate caps set by the apex bank. CBN-approved apps do not charge ridiculous charges and this means you can access loans at competitive pricing.

  • Regulations

As stated above, CBN-approved apps adhere strictly to CBN guidelines that are put in place to protect you and other borrowers. They are consistent in following regulations and whether it is loan disbursement, collection practices, or grievance redressal, CBN-approved apps act within the confines of CBN guidelines.

  • Credit Score

CBN-approved loan apps ensure borrowers who borrow and repay loans regularly are rewarded with improved credit scores. If you want to have a very good credit score, ensure you repay your loans within the stipulated period.

  • Customer Service

CBN-approved apps have the best customer care service. If you are facing any issues or you have queries, these apps always ensure you are swiftly and effectively attended to

  • Hitch-free Application Process

CBN-approved apps do not expose borrowers to the rigour of lengthy paperwork or long waiting times. These apps operate a hassle-free, streamlined application process, quick verification, and faster loan disbursements.

  • Repayment Plans

CBN-approved apps offer several convenient repayment plans. They allow bank transfers to mobile wallets and several other easy-to-use repayment channels.  These easy repayment options make repayment simple for borrowers.

  • Financial Education

Aside from giving or lending you money, Many CBN-approved apps also educate borrowers by providing educational resources, tips, and financial advice to help them make informed decisions and better manage their finances.

List Of CBN-Approved Loan Apps In Nigeria

Now that we are done with all the benefits you stand to gain by using CBN-Approved loan apps, below is a comprehensive list of some of them you can use in 2023:

  1. Trade Lenda Com Limited
  2. Rock Financials Limited
  3. Red Harbor Fintech Limited
  4. Hometown Fintech Limited
  5. Blue Ridge Microfinance Bank Limited
  6. Provest Limited
  7. Credit Tech Lending Company
  8. Phoenix Payment Solution Limited
  9. Windville Financial Nigeria Limited
  10. Orcom And Orcom Bussiness Support Limited
  11. Penaid Limited
  12. Renmoney Microfinance Bank Limited
  13. Dover Credit Limited
  14. Maywood Lending Limited
  15. Value Driver Technology Solution Limited
  16. Rockit Lenders Nigeria Limited
  17. Afrofirst Mobile And Technology Company Limited
  18. Crossroads E-Payment Systems Limited
  19. Neo-Link Technology Company Limited
  20. Afrowide Development Ltd
  21. Lantana Technology Limited
  22. Trade Depot
  23. Flo Wood Lending
  24. Linkpark Technology Nigeria Limited
  25. New Credage Nigeria Limited
  26. Easycheck Finance Investment Limited
  27. Swipebill Technologies Nigeria Limited
  28. Orange Loan & Purple Credit Limited
  29. Pockful Finance Limited
  30. Fairmoney Micro Finance Bank
  31. Keenest Tech Service Limited
  32. Bestfin Nigeria Limited
  33. Pivo Technology Limited
  34. Blackcopper Service Limited
  35. A1 Capital Solution Limited
  36. Fluna Capital Limited
  37. Red Planet Nigeria Limited
  38. P2vest Technology Limited
  39. Nextpayday Limited
  40. Creditwave Finance Limited
  41. Pay Financial Technology Service Limited
  42. Tajow Investment
  43. Rubystar Global Limited
  44. Sycamore Integrated Solutions Limited
  45. Xgo Finance Limited
  46. Keowope Capital Limited
  47. Rank Capital Limited
  48. Giasun Technology Nigeria Limited
  49. Branch International Financial Services Limited
  50. Hollandale Nigeria Limited
  51. Mim Finance Company
  52. Irorun Technologies Limited
  53. Oxymon Solution Limited
  54. Skitloan Nigeria Limited
  55. Betterlending Company Limited
  56. Applink Capital Nigeria Limited
  57. Arve Limited
  58. Papichou Technology Limited
  59. Liberty Assured Limited
  60. Primera Microfinance Bank
  61. Aella Financial Solutions Limited
  62. Fast-Point Integrated Limited
  63. Newedge Finance Limited
  64. Trafalgar Associate Limited
  65. Supreme Help Cooperative Society Limited
  66. Junk Merchant
  67. Grolatech Credit Limited
  68. Mangnet Lending Limited
  69. Princep Credit System Limited
  70. Berly Spring Global Limited
  71. Csense Limited
  72. Fubri Century Company Limited
  73. Quark Financial Nigeria Limited
  74. Maven Finance Limited
  75. Raceova Nig. Limited
  76. Paycredit Limited
  77. Mino Sparks Limited
  78. Piska Tech Nigeria Limited
  79. Niz Services Limited
  80. Edmond Solutions Company Limited
  81. Fintcred Innovation Limited
  82. Regxta Global Service Ltd
  83. Carbon Microfinance Bank Limited
  84. Uni Technology Nigeria Ltd
  85. Yes Credit Company Limited
  86. Afrosay Fintech Limited
  87. Omalend Service Limited
  88. Yegon Tech Limited
  89. Menacred Company Limited
  90. Letshego Microfinance Bank Ltd
  91. Creditville Microfinance Bank Ltd
  92. Singularity Technology Nigeria Ltd
  93. Ucplus Advance Limited
  94. Go Harvest International Limited
  95. Finesest Limited
  96. Altracred Finance Investment Limited
  97. Veendhq Limited
  98. Fezotech Nigeria Limited
  99. Econ Mart Fintech Limited
  100. Ted Rocket Limited
  101. Crossroads E-Payment Systems Limited
  102. Be Resources Limited
  103. Pennee Technologies Limited
  104. Lendvisery Services Limited
  105. Jm Rubinus Limited
  106. Ragekay Global Investment Limited
  107. Consynergy Limited
  108. Apex Lending Limited
  109. Ibs Golden Investment Company Limited
  110. High Credit Nigeria Limited
  111. Paylater Hub Limited
  112. Otp Internet Technology Limited
  113. Payhippo Limited
  114. Moblaspay Company Limited
  115. Crevance Credit Limited
  116. Finnew Fintech Limited
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