EaseMoni Review: Is the Loan App Worthwhile?

Easemoni is one of the financial apps that give money to anyone in need of urgent cash. If you’re in need of money to attend to something very urgent, you might consider getting easemoni loan.

Anyone can be out of cash while having bills to settle. And if that happens, borrowing money might be an option. However, each loan apps has its pros and cons, and choosing the one that suits you is necessary.

As a result, I’ll be discussing about easemoni in this post. So, you can decide if it’s good to get money anytime you want. Everything you need to know about the platform is right here in this article.

Let’s dive straight in.

About Easemoni

Easemoni is an instant personal cash loan app that gives access to money easily. They offer easy and quick approval of loan without collateral.

So, if you need to borrow money, you can easily get the cash within few minutes. All you need is just your phone and an internet connection.

about easemoni loan app

Easemoni has a microfinance banking license from the Central Bank of Nigeria. And they’ve been lending money to customers for about 6 months.

How Does Easemoni Work?

There isn’t much difference on how you’ll get a loan from easemoni compared to other money lending platforms. Mostly, you’ll just have to create an account, fill in the necessary details and get access to the money.

But in the case of easemoni, you might need an Opay account to access loan. Also, since conditions are always not the same for each platform that gives loans, you’ll want to know if this loan platform suits you. As a result, I’ve discussed certain things you should know in the next lines below.

How Much Money You Can Get From Easemoni

If you’re new to easemoni, you would want to know how much money you can borrow. Each platform has a maximum amount of money they can lend out.

But while each platform has a minimum and maximum amount of money they can loan out to their customer, it still depends on individual account history. So, this means that you might not be able to borrow up to the maximum loan amount.

Why is this?

You’ll have to input your BVN as part of the requirements before you can access the loan. Easemoni, just like other loan app will use your BVN to track your accounts history. And this is what they’ll use to determine how much loan you can get.

So, it all depends on how much money flows in your accounts. The more the money that flows in your account, the more money you can access.

Easemoni Interest Rate and Repayment Terms

All lending platforms have their interest rates and repayment terms. And the interest and repayment for loan is different for each loan platform.

As a result, you should know the interest rate and repayment terms of easemoni before you consider getting a loan from the platform.

See the interest rate and repayment terms below.

Easemoni Interest Rates

Interest rate is 5% to 10% monthly. So you’ll have to pay an interest of at least 5% for the loan.

interest rate and loan amount

For instance, if you get a loan that attracts exactly 5% interest rate, let’s assume #25,000, you’ll need to pay a 5% interest which is #1250.

I’m sure you know how much interest easemoni will charge for the loan now. Let’s talk about the repayment terms.

Repayment Terms

Easemoni require you to pay the loan within 91 days to 365 days. That’s within 3 months and 1 year. And you can repay the loan 3 times in 3 months.

For example, if you lend #45,000 and the interest is #3000, the total amount due would be #48,000. Then you’ll have to repay #16000 three times. This means that you will repay #16000 for the first, second and third month.

How to Create an Account and Get the Loan

You can easily get the money into your bank account within few minutes. Follow the guide below.

To get the loan, you’ll need to download the app from google play store or Apple store if you’re using iPhone. Then input all the required details which include your BVN.

If you’re using Opay, then you can easily access the money on your opay account dashboard. You just have to click on easemoni loan and follow the simple steps to get the loan.

As I’ve said, the maximum loan amount varies for individuals. So, it’s up to the platform to decide how much you can borrow.

Easemoni Review (Is the Loan App Worthwhile)

The platform has a transparent loaning system for customers to access loan easily. So, you can easily request for a loan, and they’ll credit your bank account within few minutes.

easemoni app ratings

Also, the safety of your data is one of the most important things you should consider when dealing with online lending platform. This is because breaching of data will make your account vulnerable to theft.

You don’t need to worry about your data with easemoni because they own a microfinance bank that is duly licensed by the Central Bank of Nigeria. All loans are insured with insurance coporation.

See reasons you might want to consider borrowing money from easemoni below.

  • Good interest rate
  • High loan amount
  • Safety of your data
  • Loan repayment reminder

They also reminds customers about repayment in case you forgot to repay your loan. Repaying your loan before the due date increases how much loan you can borrow.

FAQs about Easemoni

Here are answers to most of the questions people are asking about this loan platform below.

What is Easemoni Maximum Loan Amount?

You can borrow a minimum of #3000 to a maximum of #1,000,000 on the platform. However, the maximum loan amount varies for individuals. So, they’ll give you money due to your credit rating.

What is Easemoni Interest Rate?

The interest rate is within 5% to 10% per month. That’s 60% to 120% per year. So, the interest depends on how much money you borrowed and how long you borrowed it.

Is Opay Account Compulsory to get the Loan?

While it’s easy to get the loan with opay account, its not compulsory. If you don’t have opay account, you can create easemoni account with your number and BVN to get the loan.

How Do I Repay the Loan?

If you want to repay the loan via opay app, you’ll just need to login to your dashboard, then click the easemoni icon, after that, click on repayment to settle the loan.

How Can I Contact Easemoni Customer Care?

They have customer cares that attend to customers. If you need to contact the customer agent, you can reach out to them via phone (+2349087614150) or email ([email protected]).


Easemoni is one of the best apps that give loans. And if you need to borrow money, you can always count on them. But you have to keep up with the repayment terms, so you can have a good credit rating.

They have fair interest rate which is better than some other loan apps. I hope you found this easemoni review helpful.

If you need to ask a question, make use of the comment box below.

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This Post Has 9 Comments

  1. Dimma ufondu

    What’s the interest rate of 1millon naira

  2. Israel

    What is the interest rate of 1 million in a month?

  3. Ogbinaka jacob philip

    Wow I love this platform how do I apply

  4. Oluchi

    Ur interest rate is too high. How can you give me N16000 and in 1 month am paying N3,840 interest on top.

    Its too much. In ur advert you said 5 to 10 %, so why this high after tranfering the money.

    Am not happy..

    1. Mayaki simisola

      Am about to apply for loan but when I saw someone commenting on high interest rate, am not encouraged at all… I taught is 5 to 10%?

  5. Ifeanyi Felix egemba

    Please can I pay back my money now but they give me first of next month to pay back

  6. Ifeanyi Felix egemba

    I love the app they give me 6k to pay 7700 but I want to pay back now I don’t know if is nomal to pay before time

    1. Victor Odediran

      Hi Ifeanyi

      You can always pay back before your loan expires.

  7. Oyelakin Temilola

    They are thieves pls ppl beware of this app o. I collected 29000 from them on 21/9/23 n i was asled to pay 40500 in 4 instalments wch suppose to end on 19/11/23 but i paid the 1st on 4/10/23 n i paid the remaining money on 20/10/23 in wch i paid 10300 and 20600 same day cos they grant me another loan n keep pressing me to bal d former loan. Wch i just use d fresh loan given to me on that day to pay them bal of 30900 n they are still asking me to pay overdue pls ppl come to my rescue to help me report this scam app o vos its slready affecting my health. All customers beware easemoni is a scammers app. Thanks

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