| Interest Rate | 30% |
| Duration | From 30 days |
| Access Level | Public |
| Company Name | Sixth Penguin Limited |
| Phone 1 | 08188313151 |
| Phone 2 | |
| Website or Store | https://sixthpenguinlimited.com/ |
| Address | No 2 Joel Ogunnaike Street. G.R.A Ikeja. Lagos State. |
| Category | Mild Loan |
| Company Email | info@sixthpenguinlimited.com |
| Views | 30 |
Sixth Penguin Limited is a licensed money lending company established in 2021 and based in Lagos, Nigeria. Our primary mission is to address the financial needs of salary earners, including Public Servants, Civil Servants, and Bankers who may need financial support for various personal expenses, such as rent, school fees, and medical bills. In addition to our core services, we provide specialized loans for students seeking education financing for international studies, as well as vacation loans for those planning leisure trips abroad.
To apply for a loan, please follow the steps below:
Step 1: Provide Basic Information
Please answer the following questions (1-5) and send your responses via email to info@sixthpenguinlimited.com or via WhatsApp at 08188313151.
- Surname
- First Name
- Middle Name
- Date of Birth (D.O.B)
- BVN (Bank Verification Number)
Additionally, please provide:
- A passport photo
- Visit our website: sixthpenguinlimited.com
Step 2: Calculate Your Loan
- Visit our website and select Calculator.
- Choose the type of loan calculator that fits your need, for example, Calculate Loans for Salary Earners.
- Fill out the required information and submit the form to estimate the loan amount and repayment terms.
Step 3: Begin Your Loan Application
- Navigate to Services on our website.
- Choose the loan type you wish to apply for, such as Apply for Loan - Salary Earners.
- Click Get Started, fill out the application form, and submit it for review.
Step 4: Loan Review and Approval
If your loan application is approved, please follow these steps:
- Request for the Terms and Conditions of the loan, and review it carefully.
- Request the Requirements and Procedures document, and review it thoroughly.
Step 5: Confirm Understanding and Complete Pre-Approval Requirements
Once you have read, understood, and are comfortable with the Terms & Conditions and Requirements & Procedures, you may proceed by making the following upfront payments:
- A. Insurance Fee
- B. VAT
- C. Refundable Retention Fee
You may also choose to add the following fees to your loan repayment amount:
- D. Search Fee
- E. Agreement Contract Fee
- F. Loan Form Fee
Step 6: Final Approval and Disbursement
- Sign the Loan Agreement.
- Receive the approved loan amount directly to your account.
If you have any questions or need assistance, please contact us at info@sixthpenguinlimited.com or via WhatsApp at 08188313151.
Expert Counsel
While loan apps may appear to provide a quick fix for financial issues, they often carry considerable risks. Here are ten essential tips to consider when using these online lending platforms:
- Expect Intense Communication for Late Payments
Even a single day of delay in your repayment could result in aggressive messages, particularly on messaging apps like WhatsApp. If you encounter such harassment, don’t hesitate to block the sender for your own peace of mind. - Refrain from Borrowing from Multiple Sources
Turning to other loan apps to cover existing debts can ensnare you in a vicious borrowing cycle. This strategy typically exacerbates your financial difficulties rather than alleviating them. - Be Cautious of High Penalty Interest Rates
Late payments can trigger daily interest penalties ranging from 5% to 7%. These rates can rapidly inflate your debt, making it even harder to repay. - Download Apps Only from Reputable Sources
Always download loan apps from reliable platforms like the Google Play Store. Obtaining apps from unofficial sources can jeopardize your personal information and expose you to fraud or harassment. - Consider Alternatives to Loan Apps
Many loan apps are designed to entrap users in cycles of debt, often jeopardizing their financial well-being and privacy. It might be wiser to seek out safer, more reliable financial alternatives. - Be Mindful of Short Repayment Terms
Some loan apps may impose repayment periods as brief as 6 to 14 days, complicating timely payments and increasing your risk of falling into further debt. - Safeguard Your Personal Reputation
In certain instances, loan apps may contact your friends or family to publicly shame you. While the damage can be disheartening, avoiding the loan is a more prudent choice than succumbing to pressure. - Cease Borrowing to Regain Control
To break free from predatory lenders, stopping further borrowing is crucial. Though it may be a challenging step, it’s essential for regaining control of your financial situation. - Utilize Call Management Applications like Truecaller
Truecaller can effectively block unwanted calls from loan apps, helping to alleviate stress and minimize harassment from lenders. - Report and Block Threatening Messages
If you receive menacing messages, especially through platforms like WhatsApp, take prompt action by blocking the sender and reporting them to WhatsApp and the Google Play Store. This helps safeguard others from similar harassment.
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