FirstNell – provides short-term loans ranging from ₦50,000
FirstNell provides short-term loans ranging from₦50,000 to ₦250,000 with flexible repayment periods from 91 days to 365 days. The interest rates are reasonable, ranging from 0.0057% daily to a maximum annual percentage rate (APR) of 20.55%. Here is an example loan calculation:
- Loan amount:₦ 100,000
- Loan term: 12 months
- Interest rate: 20.55% APR
- Monthly payment: ₦10,045.8
- Total interest: ₦20,550
- Total repayable amount: ₦120,550
To qualify for a FirstNell loan, you must:
- Be a Nigerian citizen above 18 years old
- Have a valid Nigerian ID and proof of residence
- Have an active bank account
♫ FirstNell Loan Eligibility ♫
FirstNell is part of Merit Finance Credit Corporation Limited, which operates under the Soft Naira brand. FirstNell loans are approved and regulated by the Central Bank of Nigeria (CBN).
♫ First Nell ♫
Address: Trans Amadi industrial layout of community secondary school road, Port Harcourt, Nigeria
Email: service@firstnell.co
Phone: +234 8056294848.
Working hours:
Monday to Friday: 9:00 am to 6:30 pm
Saturday to Sunday: 10:00 am to 6:00 pm
Here are some additional details about FirstNell:
• FirstNell offers convenient, fast, and affordable short-term loans for Nigerians. They aim to provide financial inclusion and access to credit for underbanked individuals.
• Loan amounts range from ₦50,000 to ₦250,000, which is sufficient for everyday expenses or emergencies. Repayment periods can be flexible from 3 months up to 1 year.
• Interest rates are fixed and transparent at the time of application. They appear reasonable at 0.0057% daily up to a maximum of 20.55% APR. There are no hidden fees.
• Loan approvals are quick – within minutes after submitting all required documents like BVN, ID card copy, and bank account details. Funds are disbursed directly into the borrower’s bank account.
• Customers can build a good credit history with FirstNell by repaying loans on time. This can help access higher loan amounts and better terms over time.
• FirstNell loans are regulated by the Central Bank of Nigeria, which ensures customers are protected and the company follows responsible lending practices.
• The company has a physical office in Port Harcourt and is available via phone, email, and the FirstNell mobile app to assist customers and resolve issues promptly.
Hope this provides some additional context about FirstNell’s short-term loan offering. Please let me know if you have any other questions.
