Jumia One Loan – How to apply for Jumia One Loan, well we know not everyone is actually financially stable so sometimes we run short of funds but not to worry Jumia One Loan is available for you. So I suggest you keep reading to find out how to apply for this loan.
This article’s purpose is to enlighten you on the Jumia one loan its eligibility requirements, how you can apply for them, and related information.
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About Jumia One Loan
Jumia One Loan is one option. It is a fully automated rental platform powered by Jumia. They created a platform with a focus on making credit tools available to anyone and everyone; especially those who do not necessarily qualify for conventional bank loans.
Everyone has probably heard of Jumia at some point. It is an online retail company that provides an excellent shopping experience to its customers. Since then, the company has diversified its activities not only in the field of online shopping but also in other aspects.
How long does it take to get a Jumia One Loan?
Jumia One loan processing is one of the fastest in subprime loans. Loan options are offered to the applicant within 15 seconds and loan approval and payment are received within 5 minutes.
How accessible are Jumia One loans?
Jumia One loans are some of the most affordable loans you can get. They are available on the Jumia One platform 24/7. This means that every time you apply for financial assistance, you can enter the platform and immediately start the loan process. You can do the loan process on the Jumia One mobile app.
How much is available for loans?
First-time borrowers can borrow the sum of 10,000 nairas. You can get as much as 100,000 nairas based on your credit scores built up over time.
How long does it take to pay back the loans?
Loans like the Jumia One loans are loans regarded as money lender loans. They are short-term loans that provide financial help until the next paycheck comes in.
Pros and Cons of Jumia One loans
- The loan process is fast
- There is no need for a collateral
- There is no need for guarantors
Its cons are;
The maximum amount eligible for borrowing is low.
What type of loans can you get from Jumia One?
Jumia One Loans are in different categories. This is because Jumia has loan products to meet everyone’s needs. They are;
- Payday loans – A payday loan is a loan designed to provide financial assistance to employees. It works like an overdraft and is expected to be repaid with the borrower’s next paycheck. It is eligible for employees of any functional organization, from companies to ministries and other establishments.
- Education – available to anyone for use in pursuing their academics. Meant to aid educational expenses.
- Business – These loans were created to help businesses cover cash flow payments and aid overall transactions.
What is required to apply for a Jumia One loan?
These are the requirements that make you eligible for a Jumia One loan:
- Your bank details
- Bank verification number
- A mobile phone with an internet connection
- The Jumia One app
- Your application
Note: Jumia One loans are the best choice for those who want to get an unsecured loan; i.e. loans that do not require collateral or have a long and tedious application process. This is especially good if you don’t have an existing credit profile that wouldn’t normally qualify you for a bank loan.
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