Understanding Moniepoint business loan's interest rate before you apply
Here's everything you need to know about Moniepoint's business loan interest rate.
Temmy Samuel
Understanding Moniepoint business loan's interest rate before you apply
Moniepoint, one of the leading fintech companies with the largest agency banking in Nigeria, offers business loans, including working capital and overdraft facilities, with interest rates that vary based on business owner's loan amount, repayment plan, and transaction history. But on a norms, Moniepoint's interest rates range from 24% to 40% per annum. However, it's important to understand that Moniepoint does not offers personal loans for individuals; the platform primarily serves small and medium-sized enterprises (SMEs) who need quick access to working capital finance. Also Read: How AI-driven debt collection works . Moniepoint Loan's Interest Rate From the information we've gathered from entrepreneurs running businesses on the Moniepoint platform, Moniepoint's interest rates are influenced by specific loan terms and borrower profiles. A user on X (formerly Twitter) reported a daily interest rate of 0.54% on reducing balances for Moniepoint loans, with repayments …
About the author
Temmy Samuel
He is a seasoned journalist with extensive experience in consumer tech, economy, finance, business, money and politics. Currently chasing a BSc degree in Accounting.
