Jumia One Loan Review: interest rate, App, how to access the loan
Oftentimes we get stranded when business opportunities come knocking at our doors. Capital is the soul of all business as the saying goes, so without money, life itself would be difficult.
This is the reason why Jumia has initiated a lending platform that provides you with quick financial assistance with no collateral or guarantor.
About Jumia One Loan
Jumia is a household name you must have heard or be familiar with at some point in time. It’s an online retail and wholesale company that gives satisfactory treats to its customers.
The company has thus modified its operations not only to online shopping but another aspect as well.
Jumia one loan happens to be one of the multiple aspects. This is a platform that loans money to people who need quick cash and it is fully automated by Jumia.
They initiated this platform to make it easy for the general public to access credit facilities most especially those that are not capable of getting loans from the traditional banks due to their research on the African population.
What type of loan can you get from Jumia one loan?
Jumia one loan comes in different levels and this is so because they want to make it accessible to all and sundry. The loans are:
- Payday Loans
- Education Loans
- Business Loans.
• Payday Loans:
payday loans are specifically designed for the working class to give them the best financial assistance they can get.
It is like an overdraft and is expected to be paid back before the borrower’s next paycheck.
It is available for any active employee ranging from the ministry’s private organizations, companies, and establishments.
• Education Loan:
education loan is created to provide financial support to students who are unable to meet up their educational demands. It is meant to aid their academic expenses.
• Business Loans:
business loans are created to provide cash flow progress and overall business needs.
How long does it take to get a jumia one loan?
Jumia one loan is one of the fastest lending platforms. The whole process does not take more than 5 minutes.
Once you meet their requirements, your money will be disbursed within seconds. Additionally, Jumia loan repayment is as easy as getting it.
They provide a flexible payment method that leaves you wanting to borrow more money.
How accessible are jumia one loans?
Jumia one loans are very easy to access, they are actively engaged 24 hours in 7days meaning,
you will always get the financial help you request on the platform at any given time. Your processing begins immediately you access their platform. The process is right on Jumia mobile app.
How much is available for loans?
Loan availability varies depending on the category you belong to. A first-timer can borrow #10,000 and continues to get more as you build up with them.
How long does it take to pay back loans?
Jumia’s one loans are short-term loans. They are regarded as a money lending company that provides financial assistance until the next paycheck comes.
Pros and cons of jumia one loans
- Zero collateral requirements
- Fast loan process
- No guarantor requirements
- The maximum amount you can borrow is low.
What are the Jumia one loan requirements?
Jumia on loan requirements are as follows:
- Your bank details
- Bank verification number (BVN)
- A mobile phone with a registered number
- Active Internet connection
- The Jumia app
- Your application
Frequently Asked Questions on Jumia One Loans
1. How can I get a loan from Jumia?
Getting a loan from jumia is very easy, here are the steps:
- First thing first, visit the Jumia pay android app
- Journey down the financial section then click “Loans”
- Provide all the necessary information they required
- You will receive an email requesting your disbursement details, this may take a minute tho
- Your account will be credited the moment you provide your details.
2. What is the interest rate on the Jumia loan?
Jumia one loans interest rate is 3.5% monthly plus 0/5% processing fee.
3. Is the Jumia loan, real?
Yes, it is real!
Jumia one loan is a reliable lending platform you can always find needful any time any day.
4. Why should I take a loan from Jumia one loans?
- Because it is easily accessible, no enormous forms to fill
- Your account will be credited in no time once you provide your details and other information as requested
- Jumiahas loan has low-interest rates
- They do not require collateral or guarantor
- Jumia one loan repayment is very easy
- Your interest rates will be reduced as you continue to make a bigger loan.
5. Can I get multiple loans at a time from JUMIA?
The answer is yes, you have the liberty of taking more than one personal loan. But it is advisable to avoid taking multiple loans due to some reasons.
One of the reasons is your inability to pay back at the appropriate time hence reducing your credit score. So lenders do not allow multiple personal loans.
6. Can I get a loan if I already have one?
Yes, you can! All you need to do is to qualify for another loan and it will be disbursed in your account. The same eligibility requirements still apply.
Jumia one loan provides the best lending service you can ever imagine hence the reason they are the best option when it comes to stress-free borrowing costs.
They require no collateral or guarantor thereby making borrowing easy and available err the fewer privileges at large.