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Is Easemoni approved by CBN in Nigeria

Here's everything you need to know about EasiMoni Loan and whether it's approved by Central Bank of Nigeria (CBN).

EasiMoni is a loan service of BlueRidge Microfinance Bank (MFB) in Nigeria. The company, which is licenced and approved by the Central Bank of Nigeria (CBN), is responsible to give individual and businesses instant cash Loans without collateral or paperwork.

In others words, BlueRidge is a Microfinance Bank (MFB) licenced by CBN and insured by NDIC to offer microfinance banking services to the banked, underbanked and unbanked sectors of Nigeria. Furthermore, BlueRidge has chosen to operate in another dimensions different from other online loan providers.

The company economically empowers micro-entrepreneurs and unbanked people by providing no collateral loans using their apps; OKash and EaseMoni. You can definitely apply for Loans ranging from ₦4,000 to ₦1,000,000 with a repayment period of 14 days to 12 months. You can also take multiple loans with a total maximum value of ₦1,000,000.

All that's needed is a good credit history and any of the BlueRidge Loan apps. You can download both OKash app and EasiMoni app on the Google Play Store and Apple App Store. Once download, launch the app and begin with the process of loan application. Your personal information such as BVN, full legal name, address, selfie video and more will be required to complete the loan application.

In a nutshell, Easemoni is a Nigerian-based instant personal cash loan app that holds a microfinance banking licence issued by the Central Bank of Nigeria (CBN). The loan app is also duly approved by the Nigerian Deposition Insurance Cooperation (NDIC).

Lastly, EasiMoni is a Legit loan app; it has over millions of customers across the nation that have trusted the online loan app for their lending needs. With EasiMoni, you can enjoy swift and hassle-free loans approval without collateral or paperwork requirements.

EasiMoni Loan Repayment

Repaying your loan couldn't be simpler. Here's what you need to know about repaying your EaseMoni loan. First of all, you should know that there are two repayment methods; automatic debit via linked bank card and repayment via the EasiMoni app.

1. Automatic Debit: This is the simplest way to repay your loans. EaseMoni will automatically deduct the repayment amout directly from your linked bank card on the repayment date. Just ensure that your card has enough funds before the due date to avoid repayment issues.

2. EasiMoni In-App Payment: You can also easily repay your due loan by clicking the "Repay" button within the app. It's quick, hassle-free, and available whenever you need it. The app can also be used to make a full or partial payment of your outstanding Loans.

However, it's important to note that late loan repayments will incur a rollover interest of 1% per day. Make your repayments on time to avoid extra charges and maintain a good credit score for future loans. Furthermore, it's also important to let you know that EaseMoni offers a grace period of 1 to 3 days after the due date before late fees start accumulating.

About EasiMoni and OPAY

BlueRidge is currently in partnership with some popular FinTech apps in Nigeria; OPay and PalmPay. In OPAY, the loan company is providing instant personal cash advance and savings festures to the fintech customer via EasiMoni.

BlueRidge, through EasiMoni, is the third-party providers that's backing OWealth, Targets Savings, Fixed Savings, Spend and Save, and SafeBox.

PalmPay, on the other hand, is backed by BMFB Lenders Nig., Limited to provide loan and savings services such as Flexi, Target Savings, Fixed Savings, and CashBox in the fintech app.

OKash was once in the OPay App with EasiMoni. But as time goes on, OKash become a standalone online loan app. EasiMoni too is a standalone online loan, but it's also a third-party loan provider in the OPay App.

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About the Author

With five years experience in Media, Temmy Samuel's become a modern journalist, delivering impressive reporting about tech, finance, business and science around the world. More About Temmy

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