HiFund Loan – Borrow Up To ₦150,000 Instantly Without Collateral

HiFund is an online lending platform that offers instant personal loans to individuals without collateral. Individuals can borrow a loan on the app just by providing some informations on their phones, such as device information to verify their identity. After you provide the required information, you can borrow up to ₦150,000 instantly.

There are several loan apps you can try right now, but HiFund has one of the best loan services. However, the maximum amount you can request is extremely low. Notwithstanding, let’s proceed with the platform.

What is Hi Fund?

When you have an urgent need, HiFund is a platform that may actually help you. It is a no-collateral credit loan platform that offers flexible and dependable loans with a credit limit of up to NGN 150,000. It merely makes use of the data on your phone, such as your phone information, to confirm your identity and make a loan to you.

For now, this platform is only available to Nigerian residents. This means, you can’t get any loan from HiFund if you don’t reside in Nigeria.

Is HiFund legit?

With the high negative reviews on Play Store, HiFund seem not to be 100% legit. After registering, you’ll be asked to bind your bank card, and they even request for the card pin, which is not necessary. If you indulge with them, you’ll be debited automatically of ₦20 for binding fee without putting your OTP pin. At the end, you may not receive your loan.

This loan company is also not transparent with their capital and interest rate. Finally, HiFund app has issues with bugs.

What HiFund offers

Below are the things offered by HiFund.

1. Credit limit range of ₦5000 up to ₦150,000

You can borrow a loan of ₦5000 up to ₦150,000 in the HiFund app. This is a personal loan platform, so you can’t borrow a huge amount of money. For now, the platform only has the lending limit of ₦1500,000.

2. 91 days to 12 months repayment period

You can choose a 91 days loan, which is close to three months, or you can extend your repayment period up to 12 months. However, each repayment period has its own rates and fees.

3. No collateral needed

HiFund Loan app offers loans to individuals without collateral. To successfuly get a loan on this platform, you only need to provide your device information, and bind your bank ATM card.

4. Security and confidentiality

HiFund protect all user data and will not leak data to third parties without the consent of the loan user.

5. Easy payment

Pay directly through the customer’s virtual account (VA)!

6. Easy to apply

All loan processes are done online. Easy data entry, simple process.

How to register on HiFund Loan

Registering on this platform is very simple. Below are the tips on how to register on HiFund.

  • Download HiFund loan app.
  • Sign up with your active phone number or email account.
  • Create and complete your profile to enable you apply for a loan.
  • Request for a loan and get the money credited to your bank account.

Steps to get a loan on HiFund app

  1. Download and install the HiFund app from Play Store.
  2. Register an account to gain access to the app.
  3. Fill out your needed information and submit.
  4. Choose your repayment period, which is usually from 91 days to 180 days.
  5. Wait for the review.
  6. Receive your loan into your bank account.

HiFund eligibility for loan

  • Borrower must be a Nigerian resident
  • Borrower must be between 18 to 55 years old
  • Active phone number must be provided

HiFund rates and fees

The maximum annual percentage rate (APR) for a loan on HiFund is 14%. There is a ₦20 fee that’ll be debited from your account once you bind your bank card.

Let’s calculate!

A loan of ₦5,000 plus interest of ₦5,000 x 14% (APR) x (120/360) days is ₦5,230, for instance, if you request for a loan of ₦5,000 with a 120-day loan term and 14% (APR) / year interest (no other costs)
Total payments per month: ₦1,307 = ₦5,230/4.

Opay is another platform that lends out loans without collateral. You may also want to know how to use Opay, borrow, transfer, invest and make money on the app.

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