Alend loan app is one of digital lenders in Nigeria that claims to offer loans up to ₦2,000,000 in minutes.
But is Alend legit? Is it approved by the CBN?
In this review, we look at how it works, the interest rate, the loan amount, how to download it, and everything you need to know about the Alend loan app before borrowing money from them.
About the Alend Loan App
Alend Loan App is a mobile loan application that offer instant loans from 4,000 to 2,000,000 without collateral.
The app is available on the Google Play Store and Apple App Store.
It was developed by LITTLEANT LTD with an official website for applications.
Alend promises fast, easy, and flexible loans to millions of Nigerians.
Alend is a digital lender, meaning you can apply for a loan anytime and anywhere. And you can get your loan approved and disbursed within minutes after successful verification.
Its repayment options range from 3 months to 12 months.
Alend also promises “transparent” terms, with no hidden fees.
Alend loan app also comes with loan calculators, reminders, and customer support.
Loan Amounts and Tenure
Alend loan amounts range from ₦4,000 to ₦2,000,000, with repayment periods ranging from 91 days to 365 days depending on your loan plan.
This flexibility makes it suitable for both short-term and medium-term borrowing.
Interest Rates
Alend’s interest rate is 2% per month, and its annual rate ranges from 24% to 120% APR depending on user profile.
In some cases, users reported even higher charges.
For example, if you borrow ₦100,000 for 6 months at 2% monthly, you will repay ₦112,000 or more.
The rates are higher compared to bank loans but similar to many Nigerian loan apps.
Eligibility Requirements
To qualify for an Alend loan, you must:
Be a Nigerian resident
Be between 18 and 55 or 60 years old
Have a valid government-issued ID
Provide your BVN for verification
Own an active bank account for disbursement and repayment
The app does not require collateral or guarantors, making it easy for first-time borrowers.
Alend App Download and How to Apply for Loan
Download the Alend Loan App from Google Play or the Apple App Store.
Register with your phone number and create a profile.
Provide your BVN and valid ID for verification.
Select the loan amount and repayment duration you prefer.
Submit your application and wait for approval.
Once approved, the money is sent directly to your bank account.
Repayment can also be made directly through the app or bank transfer.
The Central Bank of Nigeria (CBN), through the FCCPC, is responsible for licensing financial institutions.
From our findings, the loan app is on the official list of approved lenders, and Alend is listed as a CBN-licensed loan app.
This means it operates with full CBN and FCCPC approval.
Remember, borrowing money from unlicensed apps can expose you to risks like harassment, data misuse, and hidden charges.
Alend reviews is mixed with 4.2/5 user ratings. Some borrowers say the app is fast, reliable, and user-friendly.
Some of its positive reviews are quick loan approval and clear repayment terms.
On the negative review there is a report of negative experiences such as unexpected charges, aggressive recovery calls, and even unsolicited loan offers.
Overall, reviews show that while Alend works for some, many Nigerians have faced serious challenges with the app.
Pros
Instant loan approval and disbursement
Approved by CBN/FCCPC
No collateral required
Loan amounts up to ₦2,000,000
Flexible repayment options
Cons
High interest rates
Reports of harassment and poor customer service
Risk of unsolicited offers or hidden charges
Alternatives
If you prefer safer options, here are some CBN-licensed loan apps in Nigeria:
FairMoney – Personal and business loans, CBN approved
Branch – Widely used and regulated, flexible loan plans
Alend Loan App is a lending platform that provides quick loans to Nigerians.
It is a convenient, digital, and CBN/FCCPC-approved loan app.
However, it comes with high interest rates and mixed user reviews.
If you decide to use Alend, read the terms carefully and borrow responsibly.
For more alternatives, click here to learn more.
Alend is a legit loan app, through which many people have received money.
However, some users complain about harassment and hidden charges.
Since it has mixed user reviews, you should be cautious.
2. What is the maximum loan on Alend?
Alend advertises loans up to ₦2,000,000.
The actual amount you can qualify for depends on your profile, BVN, and repayment history.
3. Does the Alend Loan App report to credit bureaus?
Yes, it can report to Nigerian credit bureaus. This means your repayment may improve your credit score, as a CBN-supervised lender.
4. How fast does Alend disburse loans?
Most users say disbursement happens within minutes to a few hours after approval.
The process is entirely online, and money goes directly into your bank account.
