Floatr: Your Trusted Companion for Easy and Flexible Loans in Nigeria
Need a cash boost to navigate unexpected expenses or fuel exciting personal projects?
In today’s fast-paced world, access to quick and reliable financial solutions is more important than ever.
That’s where Floatr, the innovative Nigerian loan app, comes in.
Floatr empowers you to take control of your finances with instant microloans, flexible repayment terms, and a seamless user experience.
Floatr Loan Options
Navigating the loan landscape can be confusing. Floatr simplifies your choices by offering two main loan types:
Emergency Loans: Cover urgent expenses like medical bills or car repairs with loan amounts ranging from ₦5,000 to ₦300,000 and repayment periods between 84 and 196 days.
Personal Loans: Finance personal goals like business ventures or travel sprees with larger loan amounts up to ₦300,000 and longer repayment terms of up to 18 months.
Eligibility Criteria
Becoming a Floatr borrower is straightforward:
- Be a Nigerian citizen with a valid BVN-linked mobile number.
- Age between 20 and 55 years old.
- Have a consistent source of income.
Interest Rates
Floatr understands transparency is key. They ensure you know exactly what you’re getting into with their loan products:
Interest Rates: Daily interest rates range from 1% to 10%, translating to an Annual Percentage Rate (APR) between 36.5% and 360%.
Fees: A platform fee of 5% to 15% is also applied, depending on the loan amount and duration.
Repayment Made Easy
Floatr prioritizes your convenience with multiple repayment options:
- Direct Debit: Set up automatic deductions from your bank account for hassle-free repayment.
- Manual Transfer: Choose your preferred date and method to manually transfer your repayment amount.
Customer service
Floatr’s dedicated customer service team is readily available to address your questions and concerns through their app, email, or phone.
Taking the First Step:
Applying for a Floatr loan is a breeze:
- Download the Floatr app or access their website.
- Register with your BVN-linked mobile number and basic personal details.
- Select your desired loan type and amount.
- Go through a quick credit assessment.
- Get your loan decision and funds instantly upon approval.
FAQs
How soon can I get my loan after approval?
Once your loan is approved, funds will be credited to your bank account instantly.
What happens if I miss a repayment?
Late payments attract a penalty fee. Repayment defaults could negatively impact your credit score and future loan eligibility.
Is Floatr safe and secure?
Floatr takes data security seriously, employing industry-standard encryption and security measures to protect your information.
Can I apply for another loan before repaying my current one?
You can only apply for a new loan once you fully repay your existing Floatr loan.
Also Read: Borrow Smart: Navigating the World of Credit Cash Loan Apps in Nigeria
