EaseMoni loan app (also called Easy Money Loan App) is one of the best loan apps in Nigeria that offers quick, collateral-free loans. Easemoni claims to offer loans from ₦3,000 up to ₦2,000,000 with tenures ranging from 91 to 365 days.
Its interest rate ranges from 5–10% per month (roughly 60–120% APR), with no hidden fee in the whole process.
For example, if you take a ₦3,000 loan to be repaid over 91 days, it will incur 5% monthly interest (₦273), so the total repayable is ₦3,273.
If you applied for an EaseMoni loan by mistake, you are allowed to cancel the loan within 24 hours. You can repay the principal within 24h and ask customer service to close the loan.
In EaseMoni loans, late repayment (beyond a 1–3 day grace) incurs a rollover penalty of 1% per day. So you are advised to repay your loan in time.
The EaseMoni loan app, as of mid-2025, has a 4.7/5 rating from ~325,000 reviews on Google. With many user comments praising the app’s “quick, hassle-free” approval, user-friendly interface, and transparent terms.
For example, one recent review noted that “loans are disbursed instantly after approval…there are no hidden charges, and customer service is responsive and helpful.” Other user comments cite fast funding via linked bank accounts or OPay wallets.
However, independent forums and complaint sites report mixed experiences. PissedConsumer (a complaints site) shows a 3.4/5 average based on dozens of user reviews.
Complaints include issues like delayed credit report updates and customer support delays. In one case a user who paid on time still faced a “bad record” on the app, pleading for clearance.
Notably, a journalism investigation (FIJ, Sept. 2024) documented a Nigerian who was repeatedly called by EaseMoni (and sister lender OKash) on an account he never opened. The customer had to take and immediately repay a ₦32,000 loan to close the account, yet continued to be harassed by collection calls. This suggests some users face aggressive marketing or collection tactics despite EaseMoni’s public pledge not to harass borrowers. In summary, while the app store shows overwhelmingly positive feedback, third-party sources indicate notable customer service and communication issues for some borrowers.
Loan Amounts: From ₦3,000 to 2,000,000. First-time borrowers often start with smaller limits that increase with on-time repayment and credit scoring.
Repayment Period: From 91 to 365 days (3 months up to 1 year). Loans can be repaid in installments (e.g., 3 installments for a 91-day loan).
Collateral: without collateral.
Fees & Late Penalties: The app claims no hidden fees beyond interest. Only a late fee of a 1% daily “rollover” fee.
Interest Rates and Costs
EaseMoni loan app interest rates range from 5 to 10% per month (i.e., about 60–120% APR). The exact rate is different per user based on evaluation and product loyalty.
For instance, if you take a ₦100,000 loan at the minimum advertised rate (5% monthly) to be repaid over 3 months, the total repayable amount is ₦115,000 (interest ≈15%). At the maximum (10%/mo), it would cost ≈33% more.
You must be Nigerian residents aged 18–60 years. Other requirements include a valid BVN/NIN and bank account. You will be asked to provide your name, address, government ID (e.g., driver’s license), utility bill, email/phone, and specifically NIN and/or BVN.
Applicants with OPay accounts can access EaseMoni loans through the OPay loan feature.
How to download the EaseMoni loan app and apply for a loan
Download the App – Go to the Google Play Store and search for “easemoni loan app.” Click on Install and activate it on your Android phone.
Create an Account—Sign up or create an account with your phone number, NIN, or BVN and set up your profile.
Fill in Your Details—Fill in your personal information, such as your full name, BVN, NIN, bank details, and employment status.
Apply for Loan—Click on loan and choose the loan amount and repayment period, then click on submit for review.
Receive Your Funds—If approved, you will receive them directly to your bank account or OPay wallet.
Easemoni loan app is on the list of fully approved loan apps in Nigeria by the CBN and FCCPC. The loan app is owned by Blue Ridge Microfinance Bank and is partnered with Opay for loan services. The loan app clearly states that it protects user data and follows CBN lending regulations. The Easemoni loan app claims that user data are stored securely and not shared without users’ consent.
However, as with all loan apps, it’s important to borrow responsibly. Read the terms and conditions carefully, understand the repayment schedule, and avoid taking loans you cannot repay on time.
You can reach out to Easemoni on the above channel if you need an assistant.
EaseMoni Loan App Alternatives in Nigeria
The table below highlights EaseMoni alternative in Nigeria — FairMoney, Carbon, and PalmCredit — based on loan amounts, repayment terms, and interest rates.
App
Loan Range
Repayment Period
Interest Rate (APR)
EaseMoni
₦3,000 – ₦2,000,000
91 – 365 days
5–10% per month (≈60–120% APR)
FairMoney
₦1,500 – ₦3,000,000
61 – 540 days (2–18 mo)
~10–30% per month (≈120–360% APR)
Carbon
₦2,500 – ₦1,000,000
61 – 365 days
4.5–30% per month (≈5–36% APR)
PalmCredit
₦10,000 – ₦800,000
91 – 365 days
~24–36% APR
Key Insights
FairMoney is one of the Easemoni alternatives that offer loans of up to ₦3 million and longer repayment periods of up to 18 months, but its interest rates are relatively high, especially for repeat borrowers.
Carbon is another Easemoni alternative that can give loans up to ₦1 million, and with competitive rates starting from 4.5% per month, it is attractive to users who want both borrowing and financial management tools in one place.
PalmCredit is best for smaller loans; it offers loan amounts from ₦10,000 up to ₦800,000. And it is known for its quick disbursement and simple application process; the effective interest rates are on the higher side, ranging from 24% to 36% annually.
The Easemoni Loan app is one of the best loan apps in Nigeria for those looking for quick, short-term loans. It offers a flexible loan amount ranging between ₦3,000 and ₦2,000,000 with repayment terms ranging from 91 to 365 days.
The Easemoni loan approval is fast, with no extra service fees apart from interest.
Its requirement is simple: make it accessible for any person who may not qualify for bank loans. Interest rates can add up if you delay your loan repayment, so it is best to borrow and repay the loan on time.
If you are in an emergency situation and need emergency cash and also meet the basic requirements, an Easemoni loan can be a convenient and fast option.
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