Ultra Naira Loan App (Download, Review, Alternative, is it legit?)

Ultra Naira is one of the loan apps in Nigeria; it is owned by Piska Tech Nigeria Limited, a registered digital lending company that has been in operation since 2020, and it has been approved by the Federal Competition and Consumer Protection Commission (FCCPC). The company business address is at 53 Ikorodu-Ososun Road, Lagos, and its email address is customerservice@ultra-naira.com.

In this review, we’ll break down everything you need to know about the Ultra Naira loan app: how it works, the interest rate, the user rating, how to download it, and what to watch out for before you hit that “Apply” button.

Lets get started…

Ultra Naira Loan App Features

Ultra Naira claims to offer personal and emergency loans to Nigerians without collateral, with loan amounts ranging from ₦10,000 to ₦500,000 and repayment terms between 91 and 180 days. Whether you need a loan for rent, medical expenses, or small business needs, you can apply for funding entirely with your smartphone.

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Ultra Naira Loan App Interest Rates

It Interest rates range from 8% to 30% APR, and it depends on your credit profile and loan term, with no extra signup fees, but the app charges ₦50 to link your ATM card, out of which ₦30 is refunded with a net charge of ₦20. For example, if you borrow ₦50,000 at 10% APR for 180 days, you’ll repay about ₦52,465 in total.

Eligibility and Application

To qualify, you must:

Be a Nigerian resident
Be 18 to 60 years old
Have a bank account
Provide basic personal info and ID

After downloading the app from Google Play, you will need to fill out a short KYC form. Approval is often granted in minutes, and funds are sent directly to your bank account.

Repayment

Loan repayment is automatic; you will be debited by your linked ATM card when your loan is due. There are no physical branches or cash repayment options; all transactions happen digitally.

Late Payments & Privacy

Ultra Naira warns that late repayments attract penalties and may harm your credit score, and they don’t publish exact late fees; borrowers are advised to repay early to avoid extra charges or harassment. Like many digital lenders, the app collects and analyzes data from your SMS, call logs, and phone usage to assess your creditworthiness. While the app says it uses encryption (SSL), users should be aware of these data access permissions.

How to Download

Go to Google Play Store
On your Android phone, open the Google Play Store app.
Search for “Ultra Naira.”
In the search bar, type “Ultra Naira Loan App” or just “Ultra Naira.”
Look for the Right App
Make sure the app is published by Piska Tech Nigeria Limited and has a decent star rating (usually around 4.2 stars).
Tap ‘Install.’
Click the Install button to download the app onto your device.
Open the App
Once installed, tap Open to launch the app.
Register Your Account
- Enter your phone number.
- Complete your profile with name, age, BVN, ID, and bank account
- Link your ATM card (₦50 will be charged, ₦30 refunded)
Apply for a Loan
Once registered, follow the prompts to apply for your desired loan amount, and if approved, the money will be sent to your bank account within minutes.

⚠️ Note: Ultra Naira is currently not available for Android and iOS (iPhone). You can only download Ultra Naira loan app latest version from the official website or Google Play Store, not any third-party site.

Ultra Naira Loan App Reviews

Ultra Naira has a 4.2-star rating on Google Play, with many users praising its fast approval and ease of use, and some users report high interest and aggressive debt reminders.

Here are some real user sentiments:

“I got the loan within 5 minutes — it really helped when I was stuck.”
“Good app, but the interest is a bit too high for short-term use.”
“They approved me fast, but the reminders before due date are aggressive.”

The feedback is mixed, but the app works well for many, not without complaints.

Pros and Cons

Pros:

No collateral required
FCCPC-approved
Instant loan approval and disbursement
High loan limits (up to ₦500k)
Clear repayment terms

Cons:

High interest rates (up to 30% APR)
Short repayment window (3–6 months)
Data privacy concerns (access to SMS/call logs)
Not regulated by CBN
Some reports of pressure during repayment

Final Verdict

Ultra Naira is one of the FCCPC-approved loan apps that offer fast loans with minimal paperwork. But due to its high interest and short terms, you should be cautious. Always read the fine print and avoid borrowing more than you can repay.