Alend loan app is digital loan mobile platform in Nigeria that claim to offer personal to business loan without collateral. Alend is design for those who need quick cash without long processing-like those in emergency for quick cash.
The app is available on google play store and with over 1,000,000 downloads, making it popular lender in Nigeria.
But, is alend loan app approved by cbn? What is it interest rate, requirement, how to Apply and user reviews. In this article we talk about how safe Alend loan app is, interest rate, requirement e.t.c. so stay tuned.
Is Alend loan app approved by cbn? How safe is it?
In Nigeria, it is required that online loan apps register with the CBN through the Federal Competition and Consumer Protection Commission (FCCC) to curb the industry from unethical behavior, data breaches, harassment, loan scams, and other illegal activities. But as of May 2025, the Alend loan app is listed among the loan apps approved by the Central Bank of Nigeria (CBN) and the Federal Competition and Consumer Protection Commission (FCCPC).
This means that the Alend loan app is fully approved by the CBN or FCCPC, and it is developed by LITTLEANT LTD and is available on both Google Play and the Apple App Store. Now let look at it look amount and repayment terms.
Loan Amount and Repayment terms
Alend claims to offer flexible loan options that are designed to meet a wide range of your financial needs. Its loan amount is based on whether you need a small amount for urgent personal expenses or a substantial sum for long-term goals. Alend loan amounts range from ₦4,000 for immediate necessities such as school fees, utility bills, or urgent repairs.
You can also borrow Up to ₦1,000,000 for business growth, household improvements, or major purchases.
Repayment Options
Borrowers can choose Repayment periods range from 61 days to 12 months, making it flexible to manage payments without unnecessary pressure.
Interest Rates
Alend says their Annual Percentage Rate (APR) on loans ranges from 24% to 260% per annum, and it depends on the loan amount, repayment duration, and creditworthiness of the borrower.
Eligibility Requirement
To qualify for Alend loan, you must:
- Be a Nigeria resident
- 18 to 80 years old
- You must have a bank Verification number (BVN)
- Have active bank account or mobile account
- Valid documents and proof
How to Apply for Alend loan
Alend loan app loan application is a straightforward process, follow this steps:
- First download Alend loan app from the google play store or apple store
- Create and verify your account using your BVN
- Fill out the loan application form with your personal and financial details
- Choose your loan amount and repayment plan
- Submit your application
If your loan application is successful, you will received fund instantly.
See Also: How to Delete Your Data from Loan Apps on iPhone and Android
Alend loan App key details
Alend offers flexible and accessible loan solutions for the financial needs of Nigerians. Its loan amounts ranged from as low as ₦4,000 for urgent, short-term expenses to ₦1,000,000 for more significant financial goals such as business expansion or home improvement.
Borrowers can select repayment terms that span from 61 days to 12 months. This flexibility helps users align their loan repayments with their income flow, reducing financial stress.
Alend Annual Percentage Rate (APR) interest rates range from 24% to 260% per annum, depending on the loan amount, duration, and the applicant’s credit profile. It operates 100% online, which means there is no collateral required. Applicants can access loans through a fast, secure digital process that eliminates the need for physical paperwork or in-person visits.
It claims to offer quick approval times and instant disbursement. That sounds good for individuals seeking fast financial assistance without the complexities of traditional banking.
Alend loan app Review
Pros:
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Fast loan disbursement
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Easy-to-use app
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No collateral required
- 4 out of 5 rating on google play store
Cons:
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Limited control over approved loan amount
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Customer support could be more responsive
Alend loan app has a 4.3 review rating on the Google Play Store with a mix of positive and negative feedback. For instance, one user, Rukayat Damilola, shared a positive experience with Alend, citing the app’s reliability, fast processing, and convenience in handling emergency financial needs. She also praised the straightforward process and recommended the app to others looking for a hassle-free solution.
However, another user, Regina Sylvester, pointed out a key concern: that the app disbursed a higher loan amount than she requested, forcing her to repay more than intended. She complained that despite entering a specific amount, she was credited with ₦98,200 instead of ₦10,000. And when she contacted customer care, the issue could not be resolved, and she had to repay the full amount with interest. This raises concerns about loan amount transparency and customer control.
Conclusion
The Alend loan app provides quick ways for Nigerians to access loans. It comes with flexible loan amounts, simple loan terms, and a straightforward application process, making it easy for those in need of immediate financial assistance. Before applying for a loan, make sure you understand the terms and conditions of the loan.
