Ajomoni Loan App Review: Legit, Safe, and How It Works

Getting fast access to cash in Nigeria has become easier with digital lending platforms. One of the new players in the industry is Ajomoni Loan App, a mobile-based solution that promises quick, flexible, and transparent loans without collateral. If you’re wondering whether Ajomoni is safe, legit, or worth trying, this review will give you everything you need to know.

What is Ajomoni Loan App?

Ajomoni is a mobile micro-lending application developed by Eyocredit (Bluescape Advisory). The app provides personal loans to individuals who need urgent funds for emergencies, bills, business expenses, or school fees. Unlike traditional bank loans, Ajomoni requires no collateral, no guarantor, and everything is processed online.

Borrowers get same-day disbursement, flexible repayment schedules, and upfront information on charges without hidden costs.

Features of Ajomoni Loan

Ajomoni is designed for convenience and financial accessibility. Here are its main features:

• Loan Amount Range: From ₦10,000 to ₦1,000,000 depending on eligibility and repayment history.
• Repayment Period: Flexible duration from 91 days to 365 days.
• Interest Rate (APR): Between 5% and 36%, influenced by loan amount, duration, and credit profile.
• Service Fees: A processing fee ranging from 1% to 5% of the loan.
• Digital Application: 100% online process—download, apply, and receive money directly into your bank account.
• Revolving Credit: Offers the option to re-borrow without reapplying, useful for repeat borrowers.
• No Collateral: Loans are completely unsecured.
• Transparent Pricing: All charges are displayed before approval, so there are no hidden surprises.

Loan Breakdown Example

If you borrow ₦100,000 for 365 days at 5% interest plus a 2% service fee:

• Interest = ₦5,000
• Service Fee = ₦2,000
• Total Repayment = ₦107,000

Loan Eligibility

To qualify for a loan on Ajomoni, you need to:

• Be at least 18 years old
• Be a Nigerian citizen
• Own a valid bank account and active phone number
• Provide employment or income details

No collateral, paperwork, or guarantor is required.

Application Process

Applying for Ajomoni loan is quick and mobile-based:

1. Download the Ajomoni app from your phone’s app store.
2. Register using your phone number and verify your identity with a code.
3. Fill in basic details including bank account and income information.
4. Submit your loan request and wait for approval.
5. If approved, money is credited directly to your bank account—often within the same day.

Ajomoni Loan Interest Rates and Fees

Ajomoni charges an Annual Percentage Rate (APR) of 5% to 36%, depending on profile and loan type. In addition, a processing fee of 1% to 5% is charged.

Repayments can be set up automatically from your bank account, helping you avoid late payment penalties. Early repayment is also allowed, and in some cases, this may reduce your charges.

Reviews and Reputation

Ajomoni is still a new entrant in the Nigerian loan app market with limited downloads and reviews. Some users have reported smooth experiences with fast disbursements, while others are still waiting to test its reliability. Since it is FCCPC compliant, it operates under Nigeria’s digital lending regulations and has a privacy policy that ensures data protection.

If you’re trying Ajomoni for the first time, it’s best to start with smaller amounts until you’re confident about their service.

Pros of Using Ajomoni

• No collateral or guarantor required
• Fast approval and same-day disbursement
• Clear breakdown of fees and interest
• Repayment up to one year
• Revolving credit feature for frequent borrowers
• Safe and private, without harassment of contacts

Cons of Using Ajomoni

• Interest rates can go as high as 36%
• Still new, so limited customer reviews
• Customer support is not 24/7
• Requires access to personal data such as ID and location

Is Ajomoni Safe and Legit?

Yes, Ajomoni is safe and legit. The app:

• Is FCCPC compliant
• Protects users’ data through encryption
• Does not demand access to your phone contacts
• Provides loans without collateral or hidden charges

Unlike many aggressive loan apps in Nigeria, Ajomoni assures users that their contacts will not be called or harassed

Ajomoni loan app is a promising digital lending platform in Nigeria. With its transparent structure, fast application process, and flexible repayment options, it can be a useful option for individuals in need of urgent financial support. However, since it is still relatively new, borrowers should start small, test the platform, and avoid overborrowing to reduce risks.

Customer Support

• Email: support@ajomoni.com
• Phone: +234 816 274 3059
• Location: Lagos, Nigeria

Currently, there is no live chat feature, but responses are available via phone and email.

ALSO READ: Vidus Loan App Review: Features, Safety, Alternatives, and How It Works