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  Carbon

  Category: Safe Loan

  Interest rate: 15%

  Carbon is a trustworthy loan app authorized by the Nigeria government. They respect your privacy and won't call your contacts or guarantors. However, it's important to settle overdue payments promptly. Carbon is like a bank and can report unpaid debts to credit agencies, which might hurt your credit score. This could make it hard to get loans from other places, like banks, in Nigeria. It may take up to 6 months to rebuild your credit score, even after you pay off your debt.

  If you owe money to Carbon, try to pay it back gradually. You can split your payments over a few months, like paying ₦1,000 each month, based on what you owe. Don't rush to pay it all at once to avoid stress.

  Always pay back Carbon your loans. Don't borrow from other loan apps to pay them back, as this could make your financial situation worse.

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  Umba

  Category: Safe Loan

  Interest rate: 10%

  Umba is a secure loan platform approved by the Federal Government. They prioritize customer privacy and refrain from contacting your phone contacts or guarantors. However, it's crucial to settle overdue loans promptly. Umba is a registered Microfinance Bank and has the authority to report unpaid debts to credit bureaus, potentially impacting your credit score. This could hinder your ability to secure loans from other financial institutions in Nigeria, and rebuilding your credit score may take up to 6 months, even after repayment.

  If you have outstanding loans with Umba, consider repaying them at a manageable pace. You can spread your payments over several months, for example, ₦5,000 per month, depending on your outstanding balance. Avoid rushing to repay all at once to alleviate undue pressure.

  Always repay Umba in installments and refrain from borrowing from other loan apps to settle your debts. This practice may exacerbate your financial situation and lead to further difficulties.

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  Renmoney

  Category: Safe Loan

  Interest rate: 28%

  Let's dive into Renmoney and what you need to know about borrowing from them.

  First off, Renmoney is a legit and approved loan provider. That means they're all above board and have the necessary permissions to operate. You can trust them to handle your loan responsibly.

  Now, here's the good news: Renmoney won't tarnish your reputation. They're not in the business of defaming their customers, so you won't have to worry about receiving any embarrassing messages from them.

  But, and here's the important bit, if you default on your payments, Renmoney won't hesitate to report you to the authorities. So, it's crucial to stay on top of your repayments and honor your commitments.

  Speaking of repayments, Renmoney's overdue interest rates are pretty reasonable. However, if you've already paid off the capital and initial interest, you have the option to skip the overdue interest. Just make sure to clear your dues on time to avoid any issues.

  Now, here's a golden rule: never borrow from one loan app to pay off another. It's a recipe for disaster and will only land you in more trouble. Instead, only borrow from Renmoney when you have the means to repay, and spread your payments over several months if needed. Just make sure you stick to your repayment plan and pay them what you owe.

  For added peace of mind, consider installing Truecaller on your phone. This handy app can help you screen calls and avoid Renmoney's calls if you're not in the mood to chat.

  So, there you have it. Renmoney is a trustworthy loan provider, but it's essential to borrow responsibly and honor your commitments. With the right approach, you can make borrowing from Renmoney work for you.

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  FairMoney

  Category: Safe Loan

  Interest rate: 28%

  Let's talk about FairMoney and what you need to know to navigate your borrowing journey smoothly.

   

  First off, FairMoney is different from your typical loan app. They won't resort to defaming you or harassing your contacts if you fall behind on payments. Instead, they take a more professional approach and report any delinquent accounts to the appropriate authorities. It's a more respectful way of handling things, don't you think?

   

  Now, when it comes to overdue interest, FairMoney is pretty fair (hence the name). Their rates are reasonable, and if you've paid off the capital and initial interest, you can decide not to pay the overdue interest. It's a nice little perk that gives you some flexibility in managing your finances.

   

  Here's a golden rule: never borrow from another loan app to repay FairMoney. It's a slippery slope that can lead to even more debt. Instead, only borrow what you need when you have the money, and make sure to spread out your payments over several months. That way, you can stay on top of your finances without feeling overwhelmed.

   

  To help you avoid any unwanted calls from FairMoney, consider installing Truecaller on your phone. This handy app can identify incoming calls and allow you to block them if you prefer not to answer. It's a simple but effective way to maintain some peace and quiet.

   

  So, there you have it. FairMoney is a reliable option for borrowing money when you need it most. Just remember to borrow responsibly, stay on top of your payments, and you'll be well on your way to financial freedom.

  Take care, and happy borrowing!

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  EaseMoni

  Category: Mild Loan

  Interest rate: 30%

  Let's dive into EaseMoni and what you need to know:

   

  1. They're legit loan apps, fully registered and approved.

  2. You won't find them spreading rumors or tarnishing your name.

  3. If you don't hold up your end of the deal, they'll escalate the matter to the right authorities.

  4. Their overdue interest rates are fair, but once you've paid off the principal and initial interest, you can choose not to pay the overdue charges.

  5. Avoid the temptation to borrow from other loan apps to settle your debts. Instead, pay them back when you have the funds, even if it takes a few months.

  6. Use Truecaller on your phone to screen calls from them, giving you the option to dodge their calls if you're not in the mood to chat.

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What you should know

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  Any loan sharks that defame are never linked to the credit bureau in anyway and all they say to you are lies.

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  Loan shark money cannot help solve anybody matter to better 40% - 70% in 7 days, they are simply misery compounders!! Do away with them.

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  Loan Apps major aim is to make outrageous profit from people and render people bankrupt. Dont be a victim

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