Looking for a quick loan in Nigeria? You’ve probably come across the LendSafe Loan App. When you need money urgently, getting a loan should be quick and hassle-free. That’s what LendSafe promises.
I took some time to look into the LendSafe loan app, how it works, and what it really offers. In this review, I’ll share everything you need to know about it—from the loan amounts and interest rates, to the requirements, user reviews, and whether it is truly CBN approved.
About LendSafe Loan App
LendSafe is a digital lending platform that provides quick personal loans without collateral in Nigeria. The app promises same-day approval, flexible repayment plans, and secure data processing.
What makes it stand out is the use of AI-driven credit scoring, fraud detection, and automated verification. With this, the app promises fast and reliable loan services to Nigerians who need money urgently.
The company is owned by Smartloans Integrated Services Limited, a Nigerian company established in 2021, and is located at No. 7, New Hospital Road, Karu, AMAC, FCT, Nigeria.
LendSafe claims compliance with data protection laws and transparency—with the aim of making borrowing simple and convenient.
See Also: Full list of Loan Apps with Low Interest Rates in Nigeria 2025
Quick Facts
| Feature | Details |
|---|---|
| Company | Smartloans Integrated Services Limited |
| Year Established | 2021 |
| Loan Range | ₦5,000 – ₦60,000 (some users report up to ₦100,000 with good repayment) |
| Interest Rate | 0.08% daily (about 29.2% per year); extra fees apply for late payment |
| Tenure | 91 – 180 days (some users report up to 365 days) |
| Requirements | Nigerian resident (18+), BVN, bank account, valid ID, smartphone |
| CBN Status | Approved – listed as Smartloan (LendSafe) on the FCCPC/CBN list |
Requirements
To qualify for a loan on LendSafe, you need to meet the following criteria below:
- You must be a Nigerian resident aged 18 years or above.
- You must have a Bank Verification Number (BVN) and NIN.
- You must have a valid bank account.
- You must have a functioning phone and network access.
If you meet the above requirement, you can apply for a loan without collateral or a guarantor. The entire application is processed online, making it best for people who want quick loans without paperwork.
See Also: Best Loan Apps Without Face Verification in Nigeria 2025
Interest Rate
LendSafe claims that its interest rate is 0.08% daily, which equals about 29.2% annually.
Example:
- Loan amount: ₦60,000
- Tenure: 91 days
- Interest: ₦4,368
- Total repayment: ₦64,368
This looks affordable, but many users complain that the actual cost is much higher due to hidden charges and late payment penalties.
Some borrowers claim that they were charged between ₦300 and ₦500 daily for late fees—which can quickly push your loan balance out of control.
See Also: Top 10 Loan App That Gives ₦50,000 Instantly in Nigeria 2025
Loan Amount
The app focuses on small, short-term loans for emergencies, with loan amounts ranging from 5,000 to 100,000 based on individual creditworthiness.
- Minimum loan: ₦5,000
- Maximum loan: ₦100,000 (though first-time users start at ₦3,000)
Loan limits can increase over time as you repay your first loan, and some borrowers claim they were able to access up to ₦100,000 as they paid their first loan. The app is still a microloan app, which is not suitable for anyone looking for large sums of money.
Legitimacy—Is LendSafe licensed by CBN?
LendSafe clearly states that the company has been registered with the Federal Competition and Consumer Protection Commission (FCCPC).
One fact-checker (Bonewssng) claims that some of the app marketing is misleading, with deepfake promotional content. But from our findings, the app is on the list of loan apps approved by CBN; it appears as number 202 on the FCCPC-approved lenders list. As shown in the screenshot below:
Despite CBN approval, there are many user complaints of hidden fees, harassment, and non-transparent practices.
The app users’ experience is mixed, with positive and negative feedback. But the truth is that the app is a legitimate loan app that does disburse loans, but you should be careful.
Reviews
LendSafe has mixed reviews on app stores. On the Apple App Store, it has a 4.1-star rating from thousands of users. Many users highlight the app’s fast loan approval and disbursement and easy application process.
Others complain of aggressive debt collection, threats, and unexplained fee increases.
Some borrowers even report paying 40–60% more than the advertised cost, making it a risky option if you can’t repay on time.
Pros and Cons of LendSafe Loan App
Pros
- Fast disbursement, often within minutes of approval
- No collateral or guarantor required
- Simple requirements (BVN, ID, bank account, smartphone)
- CBN/FCCPC approved
Cons
- High interest rates
- Hidden charges
- Strict penalties for late repayment
- Aggressive debt collection
- The Lendsafe App is not in the Play Store.
- Small loan amounts (₦5,000 – ₦60,000 for most users).
- Customer service response can be inconsistent.
How to Download and Apply for a Loan
- Download the app—Search for LendSafe on the Apple App Store and install it.
- Sign up—Register with your phone number and verify using the OTP sent to you.
- Then Enter your BVN, bank details, and valid ID (such as NIN).
- Apply for a loan – Select your preferred loan amount and repayment term.
- Approval and disbursement – Once approved, the money is sent directly to your bank account.
- Repayment – Pay back on or before the due date. Early repayment is allowed without extra charges, but late repayment attracts penalties.
You can download the lendsafe app on Apple store and the Smartloans Integrated Services Limited website
Conclusion
The LendSafe Loan App is one of the digital lenders that offer quick loan without collateral. It is easy to use, with simple requirements, and fast loan processing—making it helpful option in emergencies.
There are frequent complaints about the app hidden charges and harsh debt recovery practices.
If you choose to borrow from LendSafe, make sure you only borrow what you can comfortably repay on time to avoid unnecessary fees. Better still, you can also consider this alternative loan apps that are safer and more transparent.
