Many people see loan apps as a quick way to borrow money for emergencies like school fees, medical bills, or business needs. Getting a loan from a bank is a long process, and it requires collateral. This is why Swift Naira loan apps are one of the popular options to borrow money.
About Swift Naira Loan App
Swift Naira loan app is one of the digital lenders in Nigeria that provides instant personal loans without collateral. The app is suitable for individuals who need quick cash. Swift Naira loan amounts range from ₦2,000 to ₦600,000.
The app promises quick approval, with a simple one-click application process.
Key Features and Services
- Instant loans: It provides quick, collateral-free cash loans.
- Flexible repayment terms: Loan tenors range between 91 and 180 days.
- Online application process: the loan application process is entirely online and can be completed within minutes.
- 24/7 approval service: Loans can be processed at any time of day.
- Customer support: In-app chat and customer support are available.
- Eligibility: You must be a Nigerian resident aged 18 to 60 with a valid ID and bank account.
Interest Rates
The Swift Naira loan app interest rate is very high: its interest rates range from 109% to over 200% APR, with daily penalties of about 5% when overdue.
Repayment terms are around 91 to 180 days, but some loans have much shorter terms in practice.
Compared to mainstream loan apps, Swift Naira’s interest rates are among the highest in Nigeria.
Legitimacy
The Swift Naira loan app is owned by Linwood Tech Services Ltd, and it partners with Finnew Fintech Ltd for licensing. The app is listed on the list of FCCPC-approved digital lenders in Nigeria, giving it a form of regulatory backing.
The Swift Naira loan app does not hold a direct Central Bank of Nigeria (CBN) license. Although it claims compliance, the company provides limited official contact details, and its main website is inaccessible as of August 2025.
The app was recently removed from the Google Play Store, maybe because of FCCPC policy violations.
See Also: 30 Best Loan App in Nigeria 2025 Review
Swift Naira Loan App User Reviews
Many users recommend it for quick loan disbursement and a simple application process. Some also highlight good customer support.
But others complain about high interest rates, with some users citing daily charges of 5% or more on overdue loans.
There is also a complaint of hidden charges and aggressive debt collection practices, including harassment, threats, and contacting borrowers’ family or friends.
While some borrowers find the app helpful in emergencies, many others warn about predatory terms and unethical practices.
See Also: Loan Calculator (For Loan app and Bank in Nigeria)
How to Download and Apply for a Loan
- First, download the app (when available) and install it.
- Register and create an account with your phone number, BVN, or NIN.
- Select loan amount and repayment term within the allowed limits.
- Submit your loan application and await approval (often instant).
- Receive funds directly into your bank account.
- Repay the loan through the app before the due date to avoid penalties.
And you must be 18–60 years old, have a valid government ID and BVN, and have an active bank account.
See Also: Credit Moi Loan App (Tloan) Review: Download, Is It Legit?
Security and Data Privacy
The app claims to use bank-grade encryption to secure all personal and financial details.
The policy states that user data is confidential and is being used only for loan evaluation. But there’s concern about how it is actually handled, especially given complaints of harassment during debt collection.
See Also: Top 10 Loan App That Gives ₦50,000 Instantly in Nigeria (With or Without BVN)
Swift Naira Loan App Red Flags
- The app is not on the Google Play Store, which is a major concern.
- Many users report harassment and intimidation tactics by debt collectors.
- There are allegations of fraudulent use of personal data, including claims of BVN misuse.
- Report of unclear and hidden charges that shock borrowers after taking loans.
- Limited official contact information and lack of a physical office raise trust issues.
Because of these red flags, you should exercise extreme caution when using Swift Naira.
You can visit Swift Naira website for more info.
Summary
The Swift Naira loan app claims to offer fast loans, but based on our review, it comes with very high interest rates, opaque terms, and numerous complaints about aggressive practices.
Although the app is FCCPC approved, it is not as trustworthy as other licensed alternatives like Branch, Palmcredit, Carbon, or FairMoney. You should be cautious when using this app.
