Searching for a digital lending platform that offers collateral free loans, HiFund is one of the lending platforms you can checkout.
HiFund is one of the fastest growing digital lending platforms in Nigeria that is headquartered in Lagos which offers unsecured loans to their users.
In today’s guide, we shall be taking a look at HiFund loan amount, interest rate, their application process, eligibility criteria, and how to download the HiFund app.
Without further ado, let’s get started!
1. HiFund Loan Requirements
To qualify for the HiFund loan, applicants are expected to meet the following eligibility criteria, they include:
- The applicant must be a Nigerian.
- You must have a reliable and steady source of income.
- Intending applicants must have an active phone number.
- Valid ID card.
- You must be between the age range of 18 – 55 years.
2. HiFund Loan Amount
The loan amount that users can take from HiFund is not fixed. It varies due to some factors like the creditworthiness you’ve built with the platform overtime. The better your reputation with HiFund platform the higher the loan amount you can take and vice-versa.
However, the HiFund loan amount ranges from N5,000 – N150,000.
3. HiFund Loan Interest Rate
The HiFund loan interest varies depending on the loan amount and repayment plan chosen.
However, the Annual Percentage Rate(APR) of HiFund loans is pegged at 14%.
4. HiFund Loan Repayment Plan
The HiFund loan tenure ranges from 91 days – 12 months. The earlier you repay your loan, the lower the interest rate and vice-versa.
5. HiFund Loan Application
To apply for the HiFund loan, you’ll need to follow the steps below:
- Download the HiLoan app Google Play Store or Apple Store for Android & iOS users respectively.
- Register by filling in the necessary personal details.
- Fill the application form.
- Submit your application and wait for review.
- If you’re eligible, the loan amount will be disbursed to your account and that’s all.
6. HiFund Customer Care
For questions and inquiry, you can reach out to them via the following channel:
Or better still, you can visit their office at The Venia Place, Plot 8, Providence Street, Lekki Phase 1, Lagos Nigeria.
7. HiFund Loan Review
Just like other online lending platforms, users of this loan platform have different views about the HiFund loan app.
Some users complained that the platform delays in reviewing loan apps and they also keep adding interest to your loan amount even when you’ve paid off your loan.
On the other hand, some users expressed satisfaction for the seamless application process although they also recommended room for improvement since their platform is not yet popular like their competitors.
In all, these reviews are relative because individuals may have good or ugly experiences when using the app but the most important thing is to understand the mode of operation of HiFund platform and their terms before using their services.