1. Always confirm on our site before making ANY payment whatsoever. If the payment is not on your transaction page, NEVER make the payment!! NaijaLoan will never ask you to make a payment that is not on your transactions page!
2. Never share your password with anybody. Not even with us!! We will never ask for your password. Anyone that claims to be our representative and asks for your password is a scammer.
3. Never participate in any promo that is not stated on our site. If you received any message stating that we are doing a promo, login to our site to confirm. If you can't find such promo on our site, then it's a SCAM.
4.Note that anybody can send BULKSMS with any name. We will never send you bulksms to make any payment that cannot be found on your transactions page. Please take note. And lastly, anyone that contacts you, and claims to be our admin or agent is a scammer! You can only reach us via [email protected].
NaijaLoan is a member-to-member lending platform, with a vision of creating wealth with minimal risk to our members.
As a NaijaLoan member, you can earn up to N120,000 monthly, while starting with just N1,000.
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How it Works
NaijaLoan is an innovative member-to-member lending platform where all members are lenders and borrowers at the same time.
Member-to-Member lending means whenever you are giving a loan, you are giving it directly to a member on the platform, and whenever you are requesting for a loan, another member on the platform will give you the loan directly. We are the middle-man that connects everybody. That is, we are not the one giving you the loan, neither are we the one borrowing from you.
But how can all members be lenders and borrowers at the same time? That's tough to answer, but you will get it, do not worry. Scroll down to the next question for explanation.
As we said, all members on Naijaloan are lenders and borrowers at the same time.
That means, whenever you give a loan, you are also borrowing from the platform. So let's say you give a loan of N5,000 (on level 2), you will get N10,000 back (the N5,000 you gave + N5,000 interest). But at the same time, it means not only are giving a loan of N5,000, you are also borrowing N10,000.
You are confused right? Don't worry. It will get simpler.
Here is the scope. You gave a loan of N5,000 in order to get N10,000 right? That's right. You will get your N10,000 without stress. But whenever you upgrade (let's say from level 2 to level 3), you will have to pay back the N10,000 you are owing the platform (that N10,000 we said you borrowed). And that N10,000 you paid will upgrade you to level 3, where you will get N20,000 in return.
So in other words, you paying N10,000 to move from level 2 to level 3 means you have paid back the money you borrowed & you are also giving a new loan at the same time.
In summary, whenever you give a loan on NaijaLoan, you are borrowing & lending at the same time.
Whenever you give a loan, you are actually lending to the platform.
That means the whole community will be responsible for the loan. If one member fails to pay, other members will be directed to pay you.
"You said whenever I'm giving a loan, I'm also borrowing. If I refused to pay back the borrowing aspect, will I still get back the amount I loaned + interest?"
Like we said before, if you give a loan of N5,000, you will get N10,000 back (and you are also borrowing N10,000). The N10,000 you will get back is a guarantee. Whether you paid the money we said you owed or not, you will always get the amount you loaned + the interest.
It's only when you are upgrading that you will pay back the N10,000 we said you borrowed. And by paying it back, you will also get N20,000 (the loan you gave + interest).
Are you confused?
What we mean is that if you do not upgrade, then you are not owing us (the community) any money.
And if you upgrade, not only are you paying back the money we said you owed us, you are also giving us a loan at the same time.
NaijaLoan operates what is called a Progressive Level System. And this is what enables your N1,000 to turn to N120,000.
Check below for how the progressive level system works.
There are 6 progressive levels on NaijaLoan, and no member can risk more than N1,000, as everybody has to start from level 1.
Get ₦5,000 (1 day)
Withdraw & upgrade to level 2
Get ₦10,000 (2 days)
Withdraw & upgrade to level 3
Get ₦20,000 (4 days)
Withdraw & upgrade to level 4
Get ₦40,000 (6 days)
Withdraw & upgrade to level 5
Get ₦80,000 (8 days)
Withdraw & upgrade to level 6
Get ₦120,000 (10 days)
Withdraw your N120,000 & spread the good news
Please Note: Members that have Completed Level 6 will be required to pay a fee of N10,000 to NaijaLoan. This fee is to enable us cover the costs associated with running the platform.